Banking on Bitcoin Documentary Quiz

The primary technology that underlies Bitcoin, as discussed in the documentary, is blockchain. Blockchain is a decentralized digital ledger that records and verifies transactions across multiple computers. It ensures transparency, security, and immutability of the data. Bitcoin, being a cryptocurrency, relies on blockchain technology to maintain a secure and transparent system for recording and verifying transactions.

Charlie Shrem is the correct answer because he is the co-founder and CEO of BitInstant, a company that was featured in the documentary. This implies that he played a significant role in the company's operations and its portrayal in the film.

"Banking on Bitcoin" was released in 2016.

Satoshi Nakamoto is widely believed to be the pseudonymous person or group of people who created Bitcoin. The true identity of Satoshi Nakamoto remains unknown, but the Bitcoin whitepaper, which outlined the concept and technology behind Bitcoin, was published under this name in 2008. Nakamoto also released the first version of the Bitcoin software and mined the first block of the cryptocurrency, known as the Genesis Block. Their invention revolutionized the world of finance and led to the development of numerous other cryptocurrencies.

Satoshi Nakamoto was considered revolutionary because of his anonymity. By choosing to remain anonymous, Nakamoto challenged the traditional notion of a centralized authority in the financial system. This anonymity allowed for the creation of Bitcoin, a decentralized digital currency that operates without the need for intermediaries such as banks or governments. Nakamoto's decision to stay anonymous also added to the intrigue and mystique surrounding Bitcoin, contributing to its widespread adoption and impact on the financial industry.

The reason for the clash between Bitcoin and the regulators was that Bitcoin was used for illegal activities, the regulators didn't understand Bitcoin, and Bitcoin was too volatile.

The significance of "Silk Road" in the story of Bitcoin is that it was a notorious online black market that used Bitcoin. Silk Road was an underground marketplace on the dark web where illegal goods and services were bought and sold using Bitcoin as the primary form of payment. It gained notoriety for facilitating the sale of drugs, hacking tools, counterfeit money, and other illegal activities. The use of Bitcoin on Silk Road highlighted the potential anonymity and untraceability of the cryptocurrency, which raised concerns about its use in illegal transactions and led to increased scrutiny and regulation of Bitcoin.

The original promise of Bitcoin, as highlighted in the documentary, was to democratize finance and eliminate the middleman. This means that Bitcoin aimed to provide financial access and services to everyone, without the need for intermediaries such as banks or financial institutions. By doing so, Bitcoin sought to empower individuals and give them more control over their own finances, while also reducing the fees and restrictions imposed by traditional financial systems.

Erik Voorhees was one of the prominent early advocates for Bitcoin featured in the documentary. This suggests that he played a significant role in promoting and supporting the adoption of Bitcoin during its early stages.

The Winklevoss twins launched Gemini. Mt. Gox was a cryptocurrency exchange that was not associated with the Winklevoss twins. Silk Road was an online black market that was shut down by the authorities. Satoshi Square is a public Bitcoin meetup group. Therefore, the correct answer is Gemini.