About God Bless Bitcoin:
God Bless Bitcoin asks the timely question: How do we fix our broken money? Through in-depth conversations with blockchain and interfaith religious leaders (including Mark Cuban, Cathie Wood, Rabbi Michael Caras, Fr. Robert Sirico, Tony Hawk, Tim Draper, the film exposes the broken, unjust, and immoral nature of our current fiat-based monetary system, one that is intimately connected to the military industrial complex and the propagation of war. The film also shows how and why members of the poor and middle class feel an financial squeeze even when they work hard and lead fiscally responsible lives. God Bless Bitcoin ultimately suggests the ways in which Bitcoin can present alternatives to our current system that are more just, equitable, and peaceful.
Interview with the Producers: Brian and Kelly Estes:
1. What are the first steps to using Bitcoin and making it your primary currency?
Because bitcoin is taxed as property in the United States, it is very cumbersome to use as currency. Instead, people use it to store their value for the future since it can’t be diluted by the money printer. In other parts of the world where it’s not taxable, it is used as currency and works well. How the US government decides to treat bitcoin will determine how quickly it becomes an alternative currency here. For the foreseeable future, it’s great for Americans to think about bitcoin as their savings account, and their dollars as their checking account. To be clear, bitcoin will not replace the dollar; rather it will be the base layer of our economic system.
2. In simple terms, what are the main benefits of Bitcoin?
Because there are only 21 million bitcoin that can ever be created, the limited supply protects our purchasing power. Because bitcoin is decentralized, no one entity can use it to control others. Around the world, governments use money as a weapon to sanction nations they don’t agree with, to control behaviors in their own citizens that they don’t agree with, and ultimately, to maintain their power. Bitcoin stops all of that.
3. Is Bitcoin safe?
The bitcoin network has never been hacked, so it’s extremely safe to use. However, bitcoin exchanges that custody bitcoin get hacked frequently, so people need to be careful when storing their bitcoin. Bitcoin is a bearer instrument, which means “he who holds it, owns it.” Therefore, just like cash or your credit cards, if you don’t safeguard it, you can lose it.
4. What would you say to those who are skeptical of Bitcoin?
The most important thing to do is educate them. Nobody wants to use something that they don’t understand. We hope that our film provides a simple explanation of bitcoin and how it works so that people become comfortable enough to learn more about it on their own. There is an amazing website, hope.com, that has all kinds of free educational tools on it that people can use as a resource in their bitcoin journey. There is also a lot of misinformation out there about bitcoin that makes people wary. We always hear about how bitcoin is used by criminals or for nefarious purposes, that it is bad for the environment. To correct this misinformation and help people feel more comfortable with bitcoin, we made a short film that dispels the fear, uncertainty, and doubt (FUD) that surrounds it. “What the FUD” is available for free on our website godblessbitcoin.com. This is just another educational tool to help make people comfortable with bitcoin.
5. How would you predict the future of Bitcoin?
It will take about 120 years for the bitcoin network to reach the 21 million mark. Today, there’s about 19.7 million bitcoin that have been issued. The current rate of issue is 3.125 bitcoin per ten minutes or 450 bitcoin a day. This issuance rate gets cut in half about every 4 years; there have been 4 of these 32 “halvings” so far. Once the last bitcoin is issued, which is basically a reward to incentivize people to clear transactions on the network, the network is designed to be supported by small transaction fees. As for the value, as time passes, the value will become more stable because more of the world will have adopted it. In our opinion, bitcoin becomes the monetary layer of the world just like gold was for 3500 years until 1971.
Thank you to Brian and Kelly Estes for taking the time for this interview. You can watch the God Bless Bitcoin for free online here.
Disclosure: This is a sponsored post on behalf of Review Wire Media for God Bless Bitcoin.