Encore: Crypto Wars | Generate Coins | 1

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 17 May 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

It’s 2009 and in a modest suburban home, a monetary revolution is beginning. It’s called bitcoin and it arrives with a whimper. There’s just no compelling reason to swap dollars for this worthless digital token. But then, a wannabe crime lord spots bitcoin’s potential and enacts a plan to filthy rich.

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Transcript

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0:00.0	Hey, Prime members, you can listen to Business Wars Add Free on Amazon Music.
0:04.8	Download the app today.
0:06.8	Could 2023 be the year of the cryptocurrency rebrand?
0:11.4	Cryptocurrency firms are desperate for a refresh after the series of catastrophes that define
0:16.1	2022.
0:17.9	The implosion of firms like Sam Bankman-Freed's FTX led to a crypto-winter, an increased
0:24.9	regulatory scrutiny.
0:27.2	Whether the industry can develop new tools and shed its baggage remains to be seen, but
0:31.8	it's not the first time cryptocurrency has gone through upheaval.
0:35.5	Wondery is launching a brand new mini-series on the fall of FTX on May 22nd, so to get
0:41.5	you ready for that, we're presenting an encore of our Ambia World Winning Season, Crypto
0:46.3	Wars.
0:57.2	It's late 2011 in a coffee shop in Austin, Texas.
1:02.2	Ross Ubracch scowls at the computer code on his laptop.
1:06.4	He's building a website called Silk Road.
1:10.1	He wants it to be like eBay, a trusted online marketplace where anyone can buy and sell
1:14.9	goods, only for drugs.
1:18.5	But right now, his code won't talk to the payment system the site will depend on.
1:24.2	The tall 20-something runs his hands through his wavy, Auburn hair as he works to get
1:29.0	them to play nice.
1:32.2	Ubracch checks who's calling.
1:34.1	It's the owner of the remote cabin he rents out near Bastrop.
	...

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