In 2009, a mysterious computer programmer using the pseudonym Satoshi Nakamoto created a new digital currency called Bitcoin. Five years later, they cryptocurrency has catapulted to the world's main stage. But what's behind Bitcoin's exploding popularity? Does it stand to completely redefine money as we know it, or will it be undone by controversy before it ever has the chance? In 2010, a bitcoin was valued at less than $1. Last December, the price for a single bitcoin soared to more than $1,100. Consequently, Bitcoin has piqued the interest of some of Wall Street's most prominent investors, with venture capitalists pouring more than $98 million into cryptocurrency startup companies to date. But while the Bitcoin market is growing more popular in the mainstream and as more bitcoin business are founded each day, the virtual currency now faces some serious hurdles that could jeopardize its long-term viability. Federal agencies have grown concerned over Bitcoin's role in facilitating illegal purchases through a number of online black market websites, including Silk Road, which was shut down by the FBI last October. Even more disconcerting, a coding error known as a "transaction malleability" has allowed thieves to steal hundreds of millions of dollars' worth of bitcoins in recent months, and because the industry has little oversight or regulation, little can be done to bring the perpetrators to justice. As politicians in Washington and throughout the world consider ways to better regulate the industry, Elite Daily sat down with some of the foremost experts on Bitcoin to discuss the currency's rise to prominence and whether it's a short-term fad or something with the potential to revolutionize the global financial market as we know it. Check out more Documentaries from Elite Daily: bit.ly/1seY9nq Subscribe now for more videos from Elite Daily: www.youtube.com/subscription_center?add_user=elitedaily Narrated by Kelly Foss, courtesy of Eusonia Studios Executive Producer: Greg Parker Produced By: Tyler Gildin @TylerGildin, Max Grunner @MaxG718, Kelly Foss @CWKellyFoss, Aaron Kaufman @Aaron_Kaufman Directed By: ManuallFocus @ManuallFocus Director of Photography: Sean Horan @seanhhoran Camera Operator: Sincere Dennis @i_amsin Video Editing: Greg Parker, ManualFocus, Sean Horan Artwork & Animations: Robert Rodriguez www.elitedaily.com Facebook: www.facebook.com/EliteDaily Twitter: twitter.com/EliteDaily Instagram: instagram.com/elitedaily G+: plus.google.com/+elitedaily What is Elite Daily? We proclaim ourselves to be the voice of Generation-Y and never disappoint. As the premier online destination for aspiring men and women alike, Elite offers a forum of peer-to-peer interaction in an increasingly digitalized world. The site consistently delivers diverse content with a fresh, relevant voice that appeals to the divergent perspectives represented within our ADD generation. Bitcoin: Your Guide To Understanding Digital Currency [Documentary] | Elite Daily www.youtube.com/elitedaily

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