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Money Talks from The Economist

Money talks: I am Bitcoin

Money Talks from The Economist

The Economist

News, Business, Economy, Finance & Economics, Business News

4.41.2K Ratings

🗓️ 3 May 2016

⏱️ 23 minutes

🧾️ Download transcript

Summary

Craig Wright claims to have founded the cryptocurrency. Our technology and business affairs editors debate whether his 'proofs' add up. Plus China's looming debt crisis - and the economics of Game of Thrones

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Transcript

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0:00.0

Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey.

0:11.0

So no excuses not to visit your in-laws this Christmas.

0:16.5

Trains now on Uber. T's and C's apply check the Uber app.

0:24.0

The Economist. Hello, I'm Andrew Palmer, the Business Affairs Editor,

0:28.0

and this week on Money Talks, our Asia Economics Editor warns that China may be doomed to a debt crisis.

0:33.4

It's very difficult, very rare for a country to amass that amount of debt and that's short of the time

0:39.1

without encountering a serious problem.

0:41.4

We'll hear from a specialist on Game of Thrones about how the

0:44.0

books author deals with the realities of banking and economics. He really has

0:48.0

thought a lot about how finance underpins the quest for power which is what really lies at the heart of the novels.

0:57.0

First though will the real Satoshi Nakamoto please stand up.

1:01.0

Craig Stephen Wright and Australian computer scientist

1:04.0

said this week that he in fact is the author of the white paper published in 2008

1:09.2

on Bitcoin, a cryptocurrency and the writer of its first software.

1:14.3

Ludwig Siegel A, our technology editor, joins me now to discuss our take on whether or not

1:18.6

Mr Wright's claims stack up.

1:20.8

Ludwig Craig Wright talked to you for an economist piece this week. What did you make of his claims?

1:26.0

So when I met him he walked me through his cryptographic proof, the proof that shows that he has certain type of data that only Satoshi Nakamoto could have.

1:35.0

That's the proof basically.

1:36.0

And it looked very legit. I mean, it looked as if it checked out.

1:40.0

I got a bit suspicious when I then put it to him, why don't you kind of take, I send you a message of an article of mine and you kind of sign this a message with your key and thus prove that you are Satoshi Nakamoto because that's kind of a more independent, a better quality proof.

1:57.5

He said no he wouldn't do that because it was too complicated.

...

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