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 · Cryptocurrency: Coinbase Offers Interest to Park Cash · 1 Apr 2019 podcast

I don't know exactly off the top of my head how old the idea of proof of stake is, but certainly less than 10 years old.

But as soon as you had some of these altcoins that were based on it, but proof of stake, it's at least five or six years old, the whole idea of it.

So this has been an ongoing process.

You know, it's existed.

What hasn't existed is the idea of just sort of packaging it as a packaging it and marketing it as a way to earn money on your cryptocurrency investment.

That's kind of new before the real carrot and stick of it was you're involved in the network and you are processing transactions and you are validating and you are voting on governance issues.

You're really part of the network.

And it was attractive to people who sort of philosophically wanted to be part of that network.

Now it is really just kind of being sold as an investment.

And what's interesting is, you know, to get back to your original question, yes, this is another way that people are trying to figure out how can we attract capital to this market?

How can we get people involved?

How can we get people literally and figuratively invested in this and bring in capital so that we can keep growing this, bring in capital, bring in interest, keep this thing going and keep growing it?

So it is, you know, yes, for Coinbase, it's a way to just kind of, you know, get customers, get clients, get capital.

But for the industry as a whole, it is something that I'm seeing emerge in response to, I think, in response to the fact that you have this prolonged downturn, this prolonged bear market.

And a lot of the momentum that drove, certainly that drove that 2017 mania has just gone.

Yeah, absolutely.

J.R., thanks for having me.

WSJ Your Money Briefing · Bitcoin: The Crypto Winter of Our Discontent · 20 Mar 2019 podcast

Sure.

And that's not even the worst.

I mean, it was down more.

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