Paul Vigna

speaker

1,291 appearances 13 recordings 1 series first heard Jul 2017 last heard Apr 2022

Paul Vigna’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Does Bitcoin Have a Place in an Investment Portfolio? · 30 Apr 2021 podcast

You'd put some money into it and they buy Bitcoin on your behalf.

And then you have a Bitcoin wallet and you have an account and you can buy and sell on their exchanges, on their platforms.

WSJ Your Money Briefing · Gold Had a Great Year, But Will It Remain a Safe Haven? · 29 Apr 2021 podcast

I mean, look, if you bought Bitcoin this time in 2020, you have made a lot of money.

If you bought Bitcoin at this time four years ago or eight years ago, you're a millionaire or maybe a billionaire.

WSJ Your Money Briefing · Bitcoin: What Could Trigger Another Rally? · 17 Dec 2019 podcast

No, there hasn't been.

And the problem is that in 2017, what you had was the culmination of several years worth of development in Bitcoin, not just technically, not just companies being formed and startups and businesses.

But socially, as a movement, I think it's really important to remember that Bitcoin, as much as it is a technology, it was also a social movement.

And in 2017, that exploded.

So you had this very sort of thinly traded asset that suddenly becomes extremely popular.

People jump into it and it drives the price up very, very high.

While that was going on in 2017, you had this concurrent phenomenon called the ICO market exploding, the initial coin offering.

They were basically trying to take the IPO model and transfer it over to digital tokens.

Well, it's not a bad idea, but the way it was carried out, it was extremely rife with fraud and just very, very bad practices.

And while Bitcoin was reaching this peak in popularity, you also had this peak in just

bad projects, nefarious projects, a lot of fraud.

I mean, look, what happened was Bitcoin became valuable and it attracted a lot of bad actors.

The problem now is that the good people that were interested and probably got burned have gone away.

And a lot of what's left are the bad actors.

A lot of those probably are people that opened a wallet, you know, downloaded the software or opened an account on Coinbase or blockchain or one of these other ones.

Hey, my neighbor made a lot of money.

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