This week, “60 Minutes” studies on the rise and fall of bitcoin over the previous decade. Andy Courtroom, the producer of the story, talked with 60 Minutes Time beyond regulation’s Ann Silvio about how tough it was to elucidate bitcoin and the thriller behind the cryptocurrency’s creator. Under is a transcript.
ANDERSON COOPER: What is a cryptocurrency?
NEHA NARULA: A cryptocurrency is a — let’s have a look at. How do I– how do I do that?
ANDERSON COOPER: As a result of if you cannot describe it (LAUGH)–
NEHA NARULA: I do know, I am trying–
ANDERSON COOPER: –I am sunk.
ANN SILVIO: Andy, you and Anderson Cooper reported on the cryptocurrency, bitcoin. Reporting this story, as I perceive it, was form of an odyssey. Was it a tough matter to understand?
ANDY COURT: Yeah. Nearly everybody is aware of the phrase. And it is wonderful it is sort of change into a part of our lexicon now. However we still– most of us do not actually know what it is.
ANN SILVIO: Anderson’s making an attempt to determine what it is (LAUGHTER) in your interviews. He is kind of–
ANDY COURT: One among the joys was sort of watching Anderson (LAUGH) attempt to wrap his thoughts round this factor.
ANDERSON COOPER: There is no precise coin.
NEHA NARULA: That is true. That is one thing that journeys individuals up–
ANDERSON COOPER: I do know this is a dumb query, however I am unable to–
NEHA NARULA: No, no.
ANDERSON COOPER: –get previous that.
NEHA NARULA: It took me a short while too.
ANDERSON COOPER: I am so antiquated, I am unable to think about issues that don’t have a bodily part.
MARCUS STRENG: It is actually summary for lots of people–
ANDERSON COOPER: Do not patronize me. (LAUGHTER)
ANN SILVIO: You spoke with an MIT professor, Neha Narula. Did she assist clear some issues up for you–
ANDY COURT: Yeah, I imply, I believe Neha is superb at ex– bringin’ issues again to earth.
ANDERSON COOPER: So are you able to buy– you possibly can buy– parts of a Bitcoin?
NEHA NARULA: Oh yeah. You should buy a v– you should buy a really small quantity of a Bitcoin, sure.
ANDERSON COOPER: You do not have–
NEHA NARULA: One ten-millionth of a Bitcoin. It is known as a Satoshi.
ANDERSON COOPER: Named after the one that d–
NEHA NARULA: Named after the creator.
ANDERSON COOPER: So who made Bitcoin?
ANDY COURT: Once you ask about the creator, who created this, who invented this, they have to be an actual genius, everybody’s like, we do not know.
ANN SILVIO: Satoshi Nakamoto, right–
ANDY COURT: Satoshi Nakamoto.
ANN SILVIO: Satoshi Nakamoto is a faux title for someone?
ANDY COURT: It is the title that seems on the paper.
ANN SILVIO: Had been you in a position to be taught something extra about who Satoshi Nakamoto is?
ANDY COURT: No. (LAUGHTER)
ANN SILVIO: Did you attempt?
ANDY COURT: A bit. However actually, I imply, it– it is simply mission unimaginable.
NEHA NARULA: He is a fantasy. I imply, he– he doesn’t– nobody is aware of who he is. Some individuals have claimed to be Satoshi Nakamoto. However we now have not seen any definitive proof.
ANDY COURT: Folks communicated by e mail with Satoshi. Laszlo Hanyecz, one among the individuals in our story, communicates– has instructed us he communicated by e mail with Satoshi.
LASZLO HANYECZ: Sure, I did. I corresponded with– with the inventor.
ANDERSON COOPER: Have you learnt who he or it is?
LASZLO HANYECZ: I don’t.
ANDERSON COOPER: What did you discuss?
LASZLO HANYECZ: Simply– simply talked store, actually. , “Hey, I — you realize, I am unable to get this code to work.”
ANDY COURT: So, there was a interval when individuals have been speaking to Satoshi. They have been figuring out the technical issues. They have been revising the code.
ANN SILVIO: Has Satoshi been speaking with anybody recently?
ANDY COURT: No. There was some extent the place Satoshi simply stopped. Simply pale away.
ANN SILVIO: I perceive Satoshi is sitting on a small fortune that has not been redeemed–
ANDY COURT: Proper. Past the thriller of who it– this particular person truly is, Satoshi Nakamoto, is the query of why not contact any of this cash.
LASZLO HANYECZ: Properly, I imply persons are protecting observe of his Bitcoins. , as a result of they know that he mined all the early blocks. And– he hasn’t spent them.
ANDERSON COOPER: Actually?
LASZLO HANYECZ: Yeah. They’re– they’re nonetheless there. None of them have been touched. So– you realize, some individuals assume he is useless. Some individuals assume he is simply laying low. However as a result of it’s– it is not owned or managed by anyone– it’s– it actually belongs to the web. It belongs to– to everybody. And it is nearly like Satoshi got here and gave us Bitcoin as a gift and simply kinda left.
The video above was produced by Ann Silvio and Lisa Orlando. It was edited by Lisa Orlando.