Nov. 21, 2019

Bitfinex CTO Paolo Ardoino on the 2012 Bitcoin Wild West of Hacks and Scams. Is the Lightning Network the Future?

Bitfinex CTO Paolo Ardoino on the 2012 Bitcoin Wild West of Hacks and Scams. Is the Lightning Network the Future?

Paolo Ardoino and Charlie Shrem discuss the 2012 Bitcoin Wild West, and how tokenizing debt is one of the greatest economic experiments in history.


Crypto trading has changed a lot since the beginning. Anyone who joins an exchange today really can’t appreciate how much trading Bitcoin back in the day was like the wild, wild west; full of scams and Ponzi schemes. In this episode, my guest Bitfinex CTO, Paolo Ardoino shares with me the innovations he’s used to improve the Bitfinex platform and prevent hacking. After the Bitfinex hack, I found their decision to spread the loss across their user base through an exchange created token morally questionable. Learn how I changed my mind and now consider it one of the greatest economic experiments in history.

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BitPay gives you the tools to live life on crypto. Whether you want to send crypto to friends, use crypto to buy video games or computer parts, or turn crypto into gift cards for more than 100 mainstream brands, the BitPay app has you covered. You can hold your own private keys in a secure wallet while accessing the best of crypto commerce. Get started at bitpay.com/wallet.

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Bitpanda is a fintech based in Vienna, Austria founded in 2014 by Eric Demuth, Paul Klanschek and Christian Trummer. The company is a firm believer in the innovative power of cryptocurrencies, digitised assets and blockchain technology. Bitpanda’s mission is to tear down the barriers to investing and bring traditional financial products to the 21st century. Today, Bitpanda has more than 1 million users and 120 team members. With a PSD2 payment service provider license, state-of-the-art security and streamlined user experience, Bitpanda has grown into a popular trading platform for newbies and experts alike. Users can currently trade Bitcoin, Ethereum, gold and over 20 other digital assets.

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Pepo was founded by Jason Goldberg, who has been building user experiences for creators and communities for decades. Jason has worked at AOL, Jobster, Social Median, and more recently he connected designers at Hem and Fab. Visit us at Pepo.com/stories for more information.

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If you enjoyed this conversation, share it with your colleagues & friends, rate, review, and subscribe.This podcast is presented by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at: https://www.blockworksgroup.io