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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.


#515: A Bet Over Bitcoin

February 5th, 2014

Episode 665 of 964 episodes

Ben Horowitz is a big-time venture capitalist. His firminvested in Facebook and Twitter. More recently, his firminvested some $50 millionin startups related to bitcoin, the virtual currency that works like online cash. Ben thinks bitcoin is going to change the way people buy and sell stuff on the Internet. Felix Salmon, a high-profilefinance blogger at Reuters, is a prominent bitcoin skeptic. So when Felix recentlypublished an essaycalling bitcoin a bubble that was sure to burst, Benposted a commentchallenging him to a bet over the future of bitcoin. "I said, 'Why don't we just bet?'" Ben told us. "And I've read enough of Felix's stuff to know that would be irresistible to him." "He's right about that," Felix said. "Being challenged by Ben Horowitz is kind of a high point of my career. So I immediately said yes." When we heard about the challenge, we invited Felix and Ben to come on Planet Money to hash out the details of the bet. Basically, we offered to be their bookie. Fortunately for us, they accepted. For more on the bet, see our post:A Venture Capitalist Is Betting A Pair Of Socks (And $50 Million) On Bitcoin's Future

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