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When Bitcoin first appeared out of digital thin air, it was hailed as having the potential to upend the way people spent money. But more than a decade later, cryptocurrency is still only trickling into the mainstream.
This week, Tesla bought $1.5 billion worth of Bitcoin and said it plans to start accepting it as a form of payment for its electric vehicles. The price of Bitcoin immediately spiked as the move seemed to signal a shift toward broader acceptance of cryptocurrency in general. But is this just another fleeting Elon Musk stunt, or will it actually be a sustainable way of doing business?
This week on Gadget Lab, WIRED staff writer Greg Barber joins us to talk about Tesla's crypto plans, the reemergence of Dogecoin, and why the blockchain hasn't exactly revolutionized currency yet.
Show Notes:
Read Greg’s story about Tesla and Bitcoin here. Read more about how WIRED lost over $500,000 in Bitcoin here. Don’t miss Greg's CRISPR cow cover story. And here’s a good David Bowie playlist.
Recommendations:
Greg recommends the cooking website The Woks of Life. Mike recommends the Off the Record: David Bowie podcast from iHeartRadio. Lauren recommends the New York Times documentary Framing Britney Spears on Hulu.
Greg Barber can be found on Twitter @GregoryJBarber. Lauren Goode is @LaurenGoode. Michael Calore is @snackfight. Bling the main hotline at @GadgetLab. The show is produced by Boone Ashworth (@booneashworth). Our theme music is by Solar Keys.
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