19 Burst results for "Vigna"

"vigna" Discussed on KNX 1070 NEWSRADIO

KNX 1070 NEWSRADIO

01:34 min | 1 year ago

"vigna" Discussed on KNX 1070 NEWSRADIO

"Ten minutes on the five is learning new cash to tell you about ten central loss Angeles and getting reports on the one oh one. Northbound before the one ten they're also saying it's possibly the one ten northbound before the one on, once it's at that juncture, you get a car crash there. That is blocking lanes backup on the northbound one and one from Vigna's northbound side of the one ten slow from ninth mid city, ten eastbound at fear factor. Two car crash, there blocking lanes causing injuries. There are injuries ambulance. His are on the way for that one. So watch out as you approach, and they're still working on this crash in Sherman oaks one westbound for the four oh, five three car crash. It's over on the right shoulder, but it's causing a pretty heavy backup. They do have tow-trucks on the scene. You're backed up now from Woodman and in Santa Clarita, five northbound past magic mountain Parkway. Watch out for a bicycle some dropped it in the second lane from the left we have six cars right now that pulled over to the right shoulder with flat tires also couple in the center divider. So look for HP to possibly run a break, try to clear that one out of the way southbound fed of the, the five in Santa three is slow and go just because there's Cal trans work there. They've taken away the right lane between has Canaan road. Magic mountain Parkway plus east and westbound magic mountain Parkway connector road to the to the five. And also, these westbound lions on ramp is shut down. Right now, the downside is backed up between McBain Parkway and lions next report at twelve five. I'm Laura Nickerson. With more traffic reports, more often KNX ten seventy NewsRadio. Sixty five degrees bourbon, look, no, an ad from dad. All right. Save money on car insurance when you bundle home and auto with.

Santa Clarita Sherman oaks Vigna Laura Nickerson Woodman Santa HP Sixty five degrees Ten minutes
Google is everywhere! Because, it's free. Is this predatory pricing?

The Indicator from Planet Money

08:50 min | 2 years ago

Google is everywhere! Because, it's free. Is this predatory pricing?

"Vigna. And Thomas says, one of the keys to what he calls Google's monopolistic behavior was making the Android operating system free be did claim that Google providing of Android for free, constituted predatory pricing predatory pricing. This refers to a strategy that companies will use to drive competitors out of business or to block entry to new competitors by offering a product or service at such a low price that they cannot compete thereby claiming the entire market for itself. Now, it is weird to think of free as a price, but it is. It is zero dollars and that is today's indicator zero dollars and the predatory pricing aspect was not part of the European Commission's official ruling against Google. But Thomas says that it was an important part of his firm's initial complaint to the EU and it was one of the economic underpinnings of what he calls Google's cellphone monopoly. And here's how that worked in Google case according to Thomas. So Google bought the Android operating system back in two thousand five started offering it to phone makers for free. It was sort of awesome open source thing that was going to help make competition in the cell phone market easier. Take a huge expense out of the equation for people who wanted to. Make new cell phone and make a larger platform for app developers, very of the people by the people for the people. Exactly. Thomas says that cell phone makers just got addicted to not having to pay for the operating system that was used on their phones. They got addicted to not having to worry about the cost. They could just invest in building the body of the phone, the brain of the phone. It was free soon Nokia Motorola, and everyone else which is counting on not having to pay for an operating system and the price competition among smartphones got fierce why this is nominally so important is that phone manufacturers have very low profit margins, whether or not Google is breaking any trust laws. The fact that Android is so big witness has been really profitable for Google. Just this year. Google is expected to take in sixty billion dollars from mobile ads. There are companies that make apps the compete with Google apps opera and fire. FOX are alternative search. Apps to Google Chrome scout and mapquest compete with Google maps and those apps want to get on your phone except when you get your phone, Google's apps are already they're, they're pre installed, and this is where the monopoly idea comes in. The EU says, Google is using its all powerful Android operating system to force us all to use Google apps and to be fair, Google is not blocking other apps. They're just getting their own apps in front of you I, but and this was in the EU decision. Inertia is a powerful force tar. Cal, Shane is the editor of research buzz, which reports online search. She says, yeah, you could ignore the preinstalled chrome browser and downloading fire FOX apper an opera search app or a mapquest app or whatever. But why would you is right there knowing, I mean, yeah, you can move out to that university other options. But in your shis suggest you won't. You use the apps that are there Google apps as a result, the eaves. Says, Google collects even more

Google European Union Thomas Vigna United States Apple Nokia Motorola Youtube Mondo Samsung Mapquest Stacey Manic Smith European Commission
Google is everywhere. Ever wondered why?

The Indicator from Planet Money

08:50 min | 2 years ago

Google is everywhere. Ever wondered why?

"Eight started out with just with this funny little irony that occurred to me because I was googling Google the company specifically. I was looking into this story about Google getting hit with a Mondo fine from the European Union for antitrust violations get alert of this card. If five point one billion dollars, the big fine. The us complaint was all about mobile. The EU said Google had been abusing its dominance in these cell phone operating system arena. Google makes the Android operating system and the operating system is basically your phones little tiny brain. It runs the software. It runs all the apps and systems on your phone and Android is also the operating system on eighty percent of the world smartphones, basically, unless you have an iphone, you're almost certainly using Google's Android operating system on your phone. And the EU said Google has used its Android system to force cell phone makers companies like Nokia and Motorola. And Samsung to pre install other Google products on their phones, specifically apps like the chrome up and the Google search app with the idea being that Google created this operating system monopoly in part of the cell phone market and then started to abuse it. But how did Google allegedly pull this off? How did it get every cell phone maker in the world except apple to use Android? Well, according to the complaint filed with the EU Google took over the operating system universe the same way, it gets all to do everything else. It made it free. This is the indicator. I'm Stacey manic Smith and I'm Garcia today on the show the price of free.

Google European Union Thomas Vigna United States Apple Nokia Motorola Youtube Mondo Samsung Mapquest Stacey Manic Smith European Commission
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:55 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"Masters in business on bloomberg radio my guest today is paul vigna he is the co author most recently of blockchain and the future of everything let's talk a little bit about some of the specifics of blockchain and crypto currency and what i'm i'm comfortable getting into the weeds here but before we do let let's start out a little basic what is a digital distributed ledger so that is that sort of that is the heart of the bitcoin program and it has come to be called by a couple of names call it distributed ledger technology blockchain technology just blockchain but what it essentially is is a program that is designed to maintain this online leger it's a live ledger that is not operated from anyone central server in other words p morgan has ledger of every transaction on j p morgan servers and j p morgan maintains it and only j p morgan can see what does it track what is it keel kemp before we even get into that just what this is is a program that can run on any number of computers every computer that is running the program live has an identical copy of the ledger every transaction that goes into that ledger gets updated on every single computer at basically at the same time the transactions are secured crypto graphically so it's virtually impossible to change them so what you have is a live transaction history that is transparent because it's on any number of computers and anybody can see it and it is impossible to change that's what it essentially is so that means that means it's a legitimate record of each transaction and it's theoretically anak right and bitcoins block chain has never been hacked here a lot of stories about hacking in this world it's always some company that got like mild cox like mount god has got hacked or someone's wallet got broken into that's possible too but the the ledger itself the transaction history bringing is never been attacked he's been attacked it has never been hacked now you said what can you do with that well the question is and that's why you have this sort of explosion in interest the answer is anything that can be digitized and recorded and tracked potentially this is still early days potentially could be done with this program so in other words the first application of this technology was bitcoin let's track a peer to peer transfer transaction exchange value exchange currency could you use it for land registries could you use it for identification could you so many things now that people realize that you can use this fork potentially can artists use it to protect their copyright and maybe make some money and trend tracker things their works are being used so anything that's transaction digitally you could keep a perfect so perfect example we were talking about the financial crisis earlier murders is a sort of unspoken villain of the crisis this is the electronic registry of mortgages and they were so overwhelmed right the number of transactions and collateralized mortgage is all put into other derivative products that very often when there is a default and people would go to court to defend it the people who thought they own the mortgage couldn't prove actually on the mortgage if you went to court with a lawyer you very often one because the people suing you couldn't demonstrate right with the appropriate party they were the mortgage elder it's amazing so theoretically could solve for something exactly and it's you know it's amazing i always think of this two thousand seven leman brothers reports record revenue record earnings best year in the company's history two thousand seven hundred and fifty years they've been around two thousand seven best year nine months later they're out of business how is that possible reba wanna five right mortgage total accounting fraud exact moving fifty billion dollars in liabilities off the books which which to this day dick fold still claims was legit yes hilarious so this is a really interesting program essentially what you have is would prevent that sort of fraud theoretically if it was implemented if the industry would accept it as a standard that's the other thing i mean one big problem for the banking industry is that this is too transparent to transports it is i mean you know listen you've been in the markets a long time i mean you know that information and having having it before other people are all virtues if you're trading they are a feature not a bug exactly you could you could.

paul vigna bloomberg fifty billion dollars fifty years nine months
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:05 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"In business on bloomberg radio my special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of cryptocurrency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first first gig oh my god well i mean it was quite simply it was money for the reason that you might think most people get into finance i was just look i was working at a weekly newspaper i had done been there a few years making no real money you make no money at community journalists right it's fun to good place to learn the ropes but we make no money at it needed a job brecca make some money dow jones was hiring doc i it was nineteen ninetyseven so everybody was hired everybody was hiring dow jones was hiring editor so i took the editing test i passed the editing test i do nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interest i literally past the editing test say hired me as an editor and my first job was rewriting press releases and that's what i did that's how i started out rewriting press release how how did you find your way to down jones market so i spent a few years on what was called the spot news desk in that press release rewrite job which was actually another great education in journalism and realize it says to me well it was it was it was a grind it was that's what i was thinking you learn a lot about find your constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there awhile in two thousand and five started at market talk with john shiffman and it was sure it was great it was just the two of us it was it was actually a great job because you're right i think our limit was one hundred word words right so these tight little commentaries on which is about today yeah exactly right so that was that was how i kind of got out of editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was that was our only kind of remet and i did that for a long time love to john had a great time doing it we were kind of left out on our own in the newsroom nobody body you could see that by the voice voice you very often don't get right and the voice was my voice in john's voice and from that i moved over to one of the blogs and then in two thousand thirteen i heard about bitcoin and my first reaction to bitcoin was this is an online scam this is an internet joke we are not writing about this we're not writing about this because i was going to go so how much bitcoin did you buy ten dollars was the answer is euro right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more about it and the more and more heard about it the more i read about it and then i started to become interested and at the time now this is twenty thirteen is the spring of two thousand thirteen at the time the wall street journal had nobody writing about bitcoin entities had nobody exactly i was writing for our money beat blog and so i had a pretty wide pretty wide latitude and what i want to write about my mic covered was the market was the market economy i could write about anything within that pretty much everything which is pretty much exactly which was great so because i had that latitude to read about whatever i wanted to write about and i was.

paul vigna bloomberg seven years ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:45 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"Paul vigna he is the author of two books on blockchain and bitcoin let's let's continue the conversation about how bitcoin move from this little niche anarchist friendly crypto currency to entering the mainstream you're describing the reward for people who actually helped run the program was there would be awarded a bitcoin mom which there were merely twentyone million potential coins to be made how did that leap from that period to bursting into the mainstream so the program is released in two thousand and nine two thousand nine two thousand ten it is like i said at this small group of coders tinkerers program mors lowercase libertarian separate bunks and you know twenty people argue is it a currency is not whatever i'm gonna call it a currency for night it really had no actual value right i mean it was it was a program that these guys were using there was nothing in the real world you could do with it you could argue that any currency's value is only the populaces willingness to assign it a value of course so so no consi has value and less people are willing to use it as the the very first time bitcoin gets used to buy something in the real world is twenty ten this programmer in florida says that he on a on a message board he says i will give anyone ten thousand bitcoin if you'll buy me two pizzas so in other words he wants to show that bitcoin can be used to buy things but he can't do it directly because no one's gonna take bitcoin costa to start out it's just amongst the pizza places don't have a coin swipe here for bitcoin so this guy and it's a pretty famous story you know he he has his open offer he says i'll give anyone ten thousand bitcoin if you buy me two pizzas and he does that for about two weeks and people are sending pizzas to his house and he's setting him ten thousand multi pizzas multiple pizzas the first one was i figured they early in may and then he kept this thing open for about two weeks and he prayed spent about two hundred thousand bitcoin on it which is today a fortune oh my god but that was the first time that it was proven that you could actually use this to buy something in the real real world it could actually work as a currency at that point it starts changing now people realize there's something here and of course at the very beginning it's really only being used basically on the dark web right i mean people want to buy and sell things legally illegal solely he was the early criticism that i recall hearing about this is used for drugs this is used for human trafficking this is used to by hit men this is used for all sorts of nefarious things and therefore it will never be a credible i mean the answer to that is there to answer that the first answer is yes it is being used for that but that is not the main it really isn't the main use of it it's still there and look the media we love sensational stories we tell those stories but it really is a very small percentage of overall bitcoin traffic and the other pushback is used for this always the dollar so is the year i mean every currencies you so does criticism of bitcoin that's criticism currency of unions for that right so twenty ten twenty eleven twenty twelve people start realizing this can be used to buy and sell things and what is the price of bitcoin back then oh i think it's in the single dollars okay i mean we pulled up the chart we could find out to do that i it it is in single dollars around the same time i in twenty twelve it starts getting out of this small sort of cypher punk program our community and it starts permeating a little bit into the mainstream really into sort of more than the tech press the tech mainstream from their probably around two thousand thirteen and start hitting the mainstream mainstream because i remember i reading about it in in early twenty thirteen july twenty twelve it finally gets over ten right exactly wow ten dollars right so in twenty thirteen it kinda has its first wave of mainstream awareness almost runs by november that year it's just under a thousand dollars it goes self is a great run from ten bucks also remember to and your audience will appreciate this and you will.

Paul vigna two weeks thousand dollars ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:49 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"You're listening to masters in business on bloomberg radio my special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of cryptocurrency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first first gig oh my god well i mean it was quite simply it was money for the reason that you might think most people get into finance i was just look i was working at a weekly newspaper i had done been there a few years making no real money you make no money at community journalists it's fun to good place to learn the ropes but we make no money at it so i need a job right can make some money dow jones was hiring doc i was nineteen ninetyseven so everybody was higher everybody was hiring dow jones is hiring editors so i took the editing test i passed the editing test i do nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interest i literally past the editing tests say hard me as an editor and my first job was rewriting press releases and that's what i did that's how i started out rewriting press release how how did you find your way to dow jones market so i spent a few years on what was called the spot news desk during that press release rewrite job which was actually another great education in journalism and realize it sounds horrific to me well it was it was it was a grind was that's what i was thinking yes you learn a lot about find you're constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there awhile in two thousand five i started at market talk with john shiffman and it was it was great was just the two of us it was it was actually a great job because you're right i think our limit was one hundred word words right so is he's tight little commentaries on which is about today yeah exactly right so that was that was how i kind of got out of editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was it that was our only kind of remet and i did that for a long time loved at john and i had a great time doing it we were kind of left out on our own in the newsroom nobody bothered you could see that by the voice it had a very often don't get right and the voice was my voice john's voice and from that i moved over to one of the blogs and then in two thousand thirteen i heard about bitcoin and my first reaction to bitcoin was this is an online scam this is an internet joke we are not writing about this we're not writing a lot since i was going to ask you to so so how much bitcoin did you buy it ten dollars was going to ask the answer zero right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more it and the more and more i heard about it the more i read about it and then i started to become interested and at the time now this is twenty thirteen is the spring of two thousand thirteen at the time the the wall street journal had nobody writing about bitcoin entities had nobody exactly i was writing for our money beat blog and so i.

paul vigna bloomberg seven years ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:56 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"Ritholtz on bloomberg radio my guest today is paul vena for the past twenty years he has been a journalist covering markets and the economy for such august outfits as dow jones and the wall street journal he is the co author with michael casey of two fascinating books on blockchain and bitcoin his first book was the age of crypto currency how bitcoin is challenging the global economy and his latest book the truth machine blockchain and the future of everything was just released to excellent reviews paul vigna welcome to bloomberg barry hilts how are you very very well let let's jump right in to the bitcoin conversation you know more about this than just about anybody i know that's totally untrue i know some sino some about it well you don't know the people i know and apparently everybody else knows less than you so it's a flawed data sal which circles you're that's right but let me ask you this question what was the initial idea behind the entire concept of bitcoin the initial idea the so this comes out in october two thousand and eight some guy named saito she nakimora nobody knows who he is is that a real name is that nobody knows what his real name is who he is if it's a team of people you know the whole mystery so this white paper comes out toshi knock emoto bitcoin a i forget the exact title but basically the point is what he is creating is a digital version of cash so in other words here shopkeeper and i come in for a cup of coffee or whatever i hand you a five dollar bill that is the transaction whatnot komodo was trying to do was replicate that transaction digitally on the internet meaning no paper no credit card notepaper no credit card and also an immediate transaction between just you and i that nobody else sees in other words hardy no government no banks no credit card nobody just buyer and seller buyer and seller peertopeer electronic money that was the original idea sounds like a good idea sounds like sounds like a simple idea right and remember this is two thousand and eight was right in the middle of the financial crisis where confidence in banks and governments are at record lows so all right so he comes up publishes this white paper how do you get from the white paper published just released it online originally it was to this thing it was on an email list sir you know one of those desires unless yeah so so how do you get from a white paper to an actual blockchain technology and a coin that starts to appreciate in value almost immediately with the white paper was describing was.

paul vena dow jones wall street journal michael casey barry hilts bloomberg paul vigna saito twenty years five dollar
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:05 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"In business on bloomberg radio my special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of cryptocurrency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first first gig oh my god well it was quite simply it was money enough for the reason that you might think most people get into finance i was just like i was working at a weekly newspaper i done been there a few years making no real money you make no money at community journalists fun to good place to learn the ropes but we make no money at it so anita job right can make some money dow jones was hiring was a doc i was nineteen ninetyseven so everybody was higher everybody was hiring dow jones is hiring editor so i took the editing test i passed the editing test i do nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interest i literally past the editing test say hard me as an editor and my first job was rewriting press releases and that's what i did that's how i started out rewriting press release how how did you find your way to dow jones market too so i spent a few years on what was called the spot news desk during that press release rewrite job which was actually another great education in journalism and realize it sounds horrific to me well it was total it was it was a grind it was that's what i was thinking you learn a lot about fight you're constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there awhile in two thousand five started at market talk with john shiffman and was sure it was great it was just the two of us it was it was actually a great job because you're right i think our limit was one hundred word right words right so these tight little commentaries on which is about today yeah exactly right so that was that was how i kind of got out of editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was that was our only remet and i did it for a long time loved at john and i had a great time doing it we were kind of left out on our own in the newsroom nobody bothers you could see that by the voice it had a very often don't get right and the voice was my voice and john's voice and from that i moved over to one of the blogs and then in two thousand thirteen i heard about bitcoin and my first reaction to bitcoin was this is an online scam this is an internet joke we are not writing about this we're not writing about this because i was gonna ask you to show so how much bitcoin did you buy ten dollars was the answer is zero right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more about it and the more and more heard about it the more i read about it and then i started to become interested and at the time now this is two thousand thirteen is the spring of two thousand thirteen at the time the wall street journal had nobody writing about bitcoin entities had nobody exactly i was writing for our money beat blog and so i had a pretty wide pretty wide latitude and what i want to write about my mic covered was the markets it was a market economy so i could write about anything within that pretty much everything which is pretty much right exactly which was great so because i had that latitude to read about whatever i wanted to write about and i was.

paul vigna bloomberg seven years ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:47 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"In business on bloomberg radio my special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of crypto currency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first first gig oh my god well i mean it was quite simply it was money for the reason that you might think most people get into finance i was just like i was working at a weekly newspaper i had done been there a few years making no real money you make no money community journalists fun it's a good place to learn the road oops but we make no money at it so i need a job right to make some money dow jones was hiring it was i it was nineteen ninetyseven so everybody was hiring everybody was hiring dow jones is hiring editors so i took the editing test i passed the editing test i knew nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interest i literally past the editing test say hired me as an editor and my first job was rewriting press releases and that's what i did that's how i started out writing press release how how did you find your way to dow jones market so i spent a few years on what was called the spot news desk during that press release rewrite job which was actually another great education in journalism and realize it says horrific to me it was the total it was it was a grind i'm yeah that's what i was thinking you learn a lot about your constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there awhile in two thousand five i started at market talk with john shiffman and it was it was great it was just the two of us it was it was actually a great job because you're right i think our limit was one hundred words right so is these tight little commentaries on which is about today yeah exactly right so that was that was how i kind of got out of editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was that was our only remet and i did that for a long time loved at john and i had a great time doing it we were kind of left out on our own in the news remote bobby you could see that by the voice it had a voice very often don't get right and the voice was my voice and john's voice and from that i moved over to one of the blogs and then in two thousand thirteen heard about bitcoin and my first reaction to bitcoin was this is an online scam this internet joke we are not writing about this we're not writing about this condition so so how much bitcoin did you buy at ten dollars mass audience zero right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more about it and the more and more i heard about it the more i read about it and then i started to become interested and at the time now this is twenty thirteen is the spring of two thousand thirteen at the time the wall street journal had nobody writing about bitcoin entities had nobody exactly i was writing for our money beat blog and so i.

paul vigna bloomberg seven years ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

02:56 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"Ritholtz on bloomberg radio my guest today is paul vena for the past twenty years he has been a journalist covering markets and the economy for such august outfits as dow jones and the wall street journal he is the co author with michael casey of two fascinating books on blockchain and bitcoin his first book was the age of crypto currency how bitcoin is challenging the global economy and his latest book the truth machine blockchain and the future of everything was just released to excellent reviews paul vigna welcome to bloomberg barry ritholtz how are you very very well let let's jump right in to the bitcoin conversation you know more about this than just about anybody i know that's totally untrue i know some sino some about it well you don't know the people i know and apparently everybody else knows less than you so it's a flawed data sal which circles you're on that's right but let me ask you this question what was the initial idea behind the entire concept of bitcoin the initial idea the so this comes out in october two thousand and eight some guy named saito nakimora nobody knows who he is is that a real name is that nobody knows what his real name is who he is a team of people the whole mystery so this white paper comes out to toshiaki komodo bitcoin a i forget the exact title but basically the point is what he is creating is a digital version of cash so in other words if you're a shopkeeper and i come in for a cup of coffee or whatever i ain't you a five dollar bill that is the transaction whatnot komodo was trying to do was replicate that transaction digitally on the internet meaning no paper no credit card no no paper no credit card and also an immediate transaction between just you and i that nobody else sees the words hardy no government no banks no credit card nobody just buyer and seller right just buyer seller peertopeer electronic money that was the original idea sounds like a good idea sounds like good idea sounds like a simple idea right and remember this is two thousand and eight was right in the middle of the financial crisis where confidence in banks and governments are at record lows so all right so he comes up publishes this white paper how do you get from the white paper published so he just released it online originally it was to this thing think it was on an email list sir you know one of those lists yeah so so how do you get from a white paper to an actual blockchain technology and a coin that starts to appreciate in value almost immediately with the white paper was describing was.

paul vena dow jones wall street journal michael casey barry ritholtz bloomberg paul vigna saito nakimora twenty years five dollar
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:05 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"In business on bloomberg radio my special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of crypto currency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first first gig oh my god well i mean it was quite simply it was money for the reason that you might think most people get into finance i was just like i was working at a weekly newspaper i had done been there a few years making no real money you make no money at community journalists fun too good place to learn the road oops make no money at it so anita job brecca make some money dow jones was hiring doc it was nineteen ninetyseven so everybody was higher everybody was hiring dow jones was hiring editor so i took the editing test i passed the editing test i do nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interest i literally past the editing test say hard me as an editor and my first job was rewriting press releases and that's what i did that's how i started out rewriting press release how how did you find your way to downtown's market so i spent a few years on what was called the spot news desk during that press release rewrite job which was actually another great education in journalism it realize it sounds horrific to me well it was it was it was a grind yeah it was it was a festival what i was thinking you learn a lot about finding you're constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there awhile in two thousand and five started at market talk with john shiffman and it was sure it was great it was just the two of us it was it was actually a great job because you're right i think our limit was one hundred words right right so these tight little commentaries on which is about mauri today yeah exactly right so that was that was how i kind of got out of editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was it that was our only kind of remix and i did that for a long time love to john and i had a great time doing it we were kind of left out on our own in the newsroom nobody bothered you could see that by the voice it had a voice very often don't get right and the voice was my voice in john's voice and from that i moved over to one of the blogs and then in two thousand thirteen i heard about bitcoin and my first reaction to bitcoin was this is an online scam this internet joke we are not writing about this we're not writing about this condition so so how much bitcoin did you buy it ten dollars the answer is euro right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more about it and the more and more i heard about it the more i read about it and then i started to become interested and at the time now this is twenty thirteen is the spring of two thousand thirteen at the time the the wall street journal had nobody writing about bitcoin entities had nobody exactly i was writing for our money beat blog and so i had a pretty wide pretty wide latitude and what i wanted to write about my my covered was the market was the market economy so i could write about anything within that which is pretty much everything which is pretty much right exactly which was great so because i had that latitude to read about whatever i wanted to write about and i was.

paul vigna bloomberg seven years ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:47 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"Business on bloomberg radio my special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of cryptocurrency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first gig oh my god i mean it was quite simply it was money by not for the reason that you might think most people get into finance i was just like i was working at a weekly newspaper i had done been there a few years making no real money you make no money at community journalists fun it's a good place to learn the ropes but we make no money at it so needed a job right to make some money dow jones was hiring doc i it was nineteen ninetyseven so everybody was hired everybody was hiring dow jones is hiring editor so i took the editing test i passed the editing test i knew nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interesting i literally past the editing tests say hired me as an editor and my first job was rewriting press releases and that's what i did that's how i started out writing press release how how did you find your way to dow jones market so i spent a few years on what was called the spot news desk during that press release rewrite job which was actually another great education in journalism it really it sounds to me well it was total it was it was a grind it was that's what i was thinking you learn a lot about you're constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there while in two thousand five started at market talk with john shiffman and it was it was great it was just the two of us it was it was actually a great job because you're right i think our limit was one hundred words these words right so is these tight little commentaries on which is about today yeah exactly right so that was that was how i kind of got editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was it that was our own remit and i did that for a long time love to john and i had a great time doing it we were kind of left out on our own in the news you could see that by the voice it had a very often don't get right and the voice was my voice john's voice and from that i moved over to one of the blogs and then in two thousand thirteen i heard about bitcoin and my first reaction to bitcoin was this is an online scam this internet joke we are not writing about this we're not writing this i was gonna hit so how much bitcoin did you buy it ten dollars was the answer zero right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more and the more and more i heard about it the more i read about it and then i started to become interested and at the time now this is twenty thirteen is the spring of two thousand thirteen at the time the wall street journal had nobody writing about bitcoin entities had nobody exactly i was writing for our money beat blog and so i.

paul vigna michael bloomberg seven years ten dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

04:44 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"Paul vigna he is the author of two books on blockchain and bitcoin let's let's continue the conversation about how bitcoin move from this little niche anarchist friendly crypto currency to entering the mainstream you're describing the reward for people who actually helped run the program was there would be awarded a bitcoin mom which there were merely twentyone million potential clients to be made how did that leap from that period to bursting into the mainstream so the program is released in two thousand and nine two thousand nine two thousand ten it is like i said at this small group of coders tinkerers programmers lowercase libertarian cyberpunk and you know twenty people argue is that a currency is not whatever i'm gonna call it a currency for it really had no actual value right i mean it was it was a program that these guys were using there was nothing in the real world you could do with it you could argue that any currency's value is only the populaces willingness to assign it a value of course so so no country has value unless people are willing to use it exactly right the the very first time bitcoin gets used to buy something in the real world is twenty ten this programmer in florida says that he on a on a message board he says i will give anyone ten thousand bitcoin if you'll buy me two pizzas so in other words he wants to show that bitcoin can be used to buy things but he can't do it directly because no one's gonna take bitcoin costa start out it's just amongst it's just the pizza places don't have a big point swipe here for bitcoin so this guy and it's a pretty famous story you know he he has this open offering says i'll give anyone ten thousand bitcoin if you buy me two pizzas and he does that for about two weeks and people are sending pizzas to his house and he's setting him ten thousand multi pizzas multiple pizzas yeah the first one was i figured they early in may and then he cut this thing open for about two weeks and he prayed spent about two hundred thousand bitcoin on it which is today a fortune oh my god but that was the first time that it was proven that you could actually use this to buy something in the real world it could actually work as a currency at that point it starts changing now people realize there's something here and of course at the very beginning it's really only being used basically on the dark web right i mean people want to buy and sell things legally legally so he was the early criticism that i recall hearing about this is used for drugs this is used for human trafficking this is used to by hit men this is used for all sorts of nefarious things and therefore it will never be a credible well i mean the answer to that is there are two answers to that the first answer is yes it is being used for that but that is not the main it really isn't the main use of it it's still there and look brennan media we love sensational stories and we tell those stories but it really is a very small percentage of overall bitcoin traffic and the other pushback is used for this always the dollar so is the year i mean every currencies you so reluctant criticism of bitcoin that's criticism currency jones for that yeah right so twenty ten twenty eleven twenty twelve people start realizing this can be used to buy and sell things what is the price of bitcoin back then oh i think it's in the single dollars okay i mean if we pulled up the chart we could find out to do that i it's it it is in single dollars around the same time and we're not to go into a holiday in two thousand twelve it starts getting out of this small sort of cypher punk program our community and it starts permeating a little bit into the mainstream really into sort of more than detect press the tech mainstream from there probably around two thousand thirteen and starts hitting the mainstream mainstream because i remember i reading about it in early twenty thirteen july twenty twelve it finally gets over ten dollars exactly wow ten dollars right so in twenty thirteen it kind of has its first wave of mainstream awareness almost runs by november that year it's just under a thousand dollars it goes yourself is a great run from ten bucks yeah i also remember to in and your audience will appreciate this and.

Paul vigna ten dollars two weeks thousand dollars
"vigna" Discussed on Bloomberg Radio New York

Bloomberg Radio New York

03:36 min | 2 years ago

"vigna" Discussed on Bloomberg Radio New York

"My special guest today is paul vigna he is the co author along with michael casey of two very interesting books on blockchain and bitcoin the first is the age of crypto currency his most recent book is the truth machine blockchain and the future of everything let's talk a bit about your career as a journalist covering markets and the economy and how that morphed into your coverage on bitcoin how did you get into financial journalism what what led you to your first first gig oh my god well i mean it was quite simply it was money not for the reason that you might think most people get into finance i was just like i was working at a weekly newspaper i had done been there a few years making no real money you make no money at community journalists right it's fun to good place to learn the ropes but make no money at it so i need a job right can make some money dow jones was hiring doc i it was nineteen ninety seven so everybody was higher everybody was hiring dow jones was hiring editors so i took the editing test i passed the editing test i knew nothing about finance i did not go to school for finance real i didn't know i didn't study it at all i interest i literally past the editing tests say hired me as an editor and my first job was rewriting press releases and that's what i did that's how i started out rewriting press release how how did you find your way to dow jones market too so i spent a few years on what was called the spot news desk during that press release rewrite job which was actually another great education in journalism it realize it sounds horrific to me well it was it was it was a grind i'm yeah that's what i was thinking you learn a lot about five you're constantly looking at what companies are telling you and if your if your being discerning about it you're trying to find the holes in it so i learned a lot about finance doing that then i spent a few years on editing desk and then i had a friend who was on market talk so in two thousand and five now i've been there awhile in two thousand five i started at market talk with john shiffman and it was sure it was great it was just the two of us it was it was actually a great job because you're right i think our limit was one hundred words these words right so is these tight little commentaries on which is about today yeah exactly right so that was that was how i kind of got out of editing and into writing and i did that for probably seven years again another great education right fast right analytically and write short that was it that was our only kind of remet and i did that for a long time love to john and i had a great time doing it we were kind of left out on our own in the newsroom nobody bothered you could see that by the voice it had a very often don't get right and the voice was my voice in john's voice and from that i moved over to one of the blogs and then in twenty thirteen i heard about bitcoin and my first reaction to bitcoin was this is an online scam this is an internet joke we are not writing about this we're not writing about this jesus i was going ask you to so so how much bitcoin did you buy ten dollars was going to ask the answer is zero right so my first reaction was probably what everyone's reaction is is that this is some kind of scam and i thought we're not writing about this no way but like i said earlier it was starting to permeate into the mainstream you're starting to hear more and more about it and the more and more i heard about it the more i read about it and then i started to become interested and at the time now this is twenty thirteen is the spring of two thousand thirteen at the time the the.

paul vigna michael casey seven years ten dollars
"vigna" Discussed on Masters in Business

Masters in Business

02:56 min | 2 years ago

"vigna" Discussed on Masters in Business

"I fail so for a while in the nineties and early 'oughts i thought i was going to make a careers a screenwriter really yeah i did i thought i love movies i like telling stories i'm going to be a screenwriter have you written a screenplay everett written like ten you know bossom software read some books try to figure out what's the maya had hebrew screenplay wrote a bunch of them never sold one never got close any of them no this is this is before bitcoin so one day i'm walking down the street near city this really happened walking down the street new york city a guy comes walking up the street he's on his cell phone and he said i hear him say this he says i've got one day to get a script steve shemi and i've got a million dollars and i my first thought was i've i've got a script all my like this is operatives walking up the street at you guys says i've got a million dollars need to get a script steve russia me and i'm thinking i have a script and i literally within within five seconds is how fast it went i literally talked myself out of going up to the guy saying i've got your script right now i i said and that was the end of your screen writing maybe my script isn't right for steve shimmy i don't know if he's the best character would he really be interested in it on opportunity walked up the street and me me and i and i talked myself out of it why did i talk why night just who cares if it's right for steve bouche emmy like here's a guy looking at by a script i've got a script talk to him and i didn't do it and i regret it my whole life and to the books how i learned from it is to the books that's when i realized bitcoin was a story i was not going to let it go you are not gonna get steve oh she's not gonna steve bouche myself again tell us the sort of advice you would give to a millennial or someone who just graduated college you said i'm interested in becoming a journalist or writer yeah i would say it's really it's it's two words don't stop don't don't stop and it's funny i learned this i actually learned taught you talking about tennis for a while i was running i was jogging and what i realized jogging was that as long as i didn't give up i could build up my endurance whether iran for ten minutes or for an hour with our felt good i felt bad i was into it i wasn't into it as long as i kept doing it and convince myself i was going to keep doing it i would get better at it so if i didn't run for a day if an rough for two days if i run for a week i was going to go back to and keep doing it and i did that for a while and eventually i got pretty good at it and i realized too like in your career that is the only thing you can control is is you right don't stop especially in journalism journalism is a war of attrition i have seen i'll show of of good writers over the years just give up and get out of.

million dollars one day five seconds ten minutes two days
"vigna" Discussed on Masters in Business

Masters in Business

02:37 min | 2 years ago

"vigna" Discussed on Masters in Business

"Idea that you could create a product a hard product newspaper sell ads in it and make a business on that is gone the wall street journal does a wonderful newspaper it really does i love our newspaper the times does a great newspaper that that is a business model has been blown to hell and in my mind nobody is actually figured out what the new business model is i think that the two papers your names along with the washington post in the t that have a paywall up that charged for online s that's the model and and it looks like the whole fake news and the whole facebook twitter real fake news not what the president calls fake news but actual russian botts and other other on santa fake news is become this kind of buzzing hot hotrolled it's propaganda and it is i'm hoping that sends more people into the arms of the wall street journal the new york times washington post f t because i've written about noise of written at signal you can't just take something of the web and say oh i read it on the internet that's a joke now right you know it's so maybe that will imbue to the benefit of the big bull pre to hawes yeah i i think it's interesting in that we think we're living in such a different time and everything's different everything's changed and it really hasn't the tools have changed politicians of always lied political parties have always spread you know lies about their opponents i mean these things are not knew what to do is how you can influence and the job of journalism has always been to independently verify facts to independently tell the truth as best as we can get to it at that time that has not changed and that will continue to be what our business is the problem is just trying to do that profitably and i think what you're you know you can see propublica is a really interesting effort the washington post the washington post did that was a big publicly traded company that bought a lot of pieces when things were hot things turned in things turned south they went private they sold off a lot of the business they got back to their zora buys them he's got back to their core which is washington right now and so the the business what what we do hasn't changed trying to figure out a way to do it profitably that is a big challenge for us right now tell us about a time you failed and what you learn from the experience time.

wall street journal facebook president botts the new york times propublica washington post zora washington
"vigna" Discussed on Masters in Business

Masters in Business

03:48 min | 2 years ago

"vigna" Discussed on Masters in Business

"So there's so many questions i did not get to during the broadcast portion let's spend some time on on those questions before i get to my favorite podcast questions that i ask every money okay one of the things that i had to ask is so you write the age crypto in twenty fifteen what made you think that there was an audience for a book on crypto i it's interesting because the whole thing goes back to that conference in twenty thirteen i was talking about where i go to this conference and i realize that there's just this tremendous energy around this thing i realized this is a story to be told and i go back to the news room and i'm talking to another reporter this dave anoint very good reporter when i'm telling him about the conference in these crazy people and he he he's listening to me and he looks at me says sounds like something like a louis had write a book about and the storm my fingers like bang lightbulb oh my god this is and i've been looking for a long time i wanted to write a book i've always wanted to write yeah i wanted to write a book i never found a good topic and he said that to me and i realized i just been handed a great topic and nobody else's done it yet i'm the i'm the first one there was that was this book literally age of cryptocurrency was that the first book on this topic by the time that went out a few other people had also written their books i don't i don't remember if netanyahu poppers book came out right before or right after hours around the around the the new york times digital gold poppers book is a good book to goal yeah i shouldn't plug a competitor's book but whatever you know you get a free one from me with daniel so i mean at that by the time our book came out other people had gotten onto this this idea to that there were books to be written but i think poppers book in our book where the i mean stream books the first ones by bid publishing houses to go out was made twenty six oh that's the paperback i'm sesa favor back digital gold bitcoin and the inside story of millionaire's trying to reinvent his book so anyhow so twenty thirteen i realize the book to be written i spend a lot of time actually at the time i wanted to convince the journal to let me write an e book no one else has done this let's do this quick get out quick and i remember i went home to my wife and i said i have this great idea i said i wanna write i'm going to try to do need book about bitcoin and she said slows down she says let me get this straight she says you want to write a digital book about a fake currency she said you want to write an electronic book about a digital currency and i said yeah and you wanna writer fake book about fake currency as it yeah she's all right like just good do i don't wanna hear another word until you get a check for me like just she thought it was in co crazy and again you know that's because you know people who grew up our generation we're used to tangible things right sony how come up with this idea i try to sell it to the journal they eventually don't want to do it and then by that by that time mike casey my co author also started getting interested in bitcoin so we put our heads together mike written some books he had an agent we go to the agent she loves the idea and we find a publisher and we sell it january twenty fifteen at comes out and so you be you beat popper by like five months right so we beat popper so i guess we were the i mean stream book to too so here's the question i have with you my experience with writing a book was that it was like a phd you know it was it was your graduate yes it was it was exhaust eating.

five months
"vigna" Discussed on Unchained

Unchained

01:45 min | 2 years ago

"vigna" Discussed on Unchained

"Hi everyone welcome to unchained the podcast we hear from innovators pioneers and thought leaders in the world of blockchain and cryptocurrency i'm your host laura shin this is a special south by southwest episode recorded at the founders organization unofficial south by southwest event called the initial taco offering the full day of talks and docomo's during the session i interviewed michael casey and paul vigna coauthors of the recently published book the truth machine the blockchain and the future of everything michael is a senior adviser at the mit media lab and a former wall street journal reporter paul is a current wall street journal reporter who covers crypto fulltime we have a great and wideranging discussion at everything from the sec subpoenas to how crypto could be used to solve problems like climate change thank you to the founders organization for hosting the initial taco offering and thank you to everyone who came out this special south by southwest episode of unchained his brought to you by pre sheet founded my at stevens appreciate his building those valuable relationships on earth today pre sheet his recognizing group for a big achievement in the crypto space who will be recognized today for their achievements stay tuned to find out this episode is brought to you by quant stamp kwan stamp is building the first smart contracts acuity auditing protocol designed to secure all smart contracts and the cost effective enfield will mattress being developed by team of peach with over five hundred google scholar citations they're about to finish y combinator winter eighteen batch to learn more or requesting on it visit www dot qua stamp dot com well thanks for coming everyone i'm going to be releasing this as a special episode of my podcast unchained special south by south west episode i hope you guys are having a great south by southwest.

laura shin docomo senior adviser reporter stevens michael casey paul vigna wall street journal sec