Empire

Inside Bitcoin’s Early Days | Pete Rizzo and Charlie Shrem

Mar 5, 2024
Bitcoin early adopters, Pete Rizzo and Charlie Shrem, discuss the origins of BitInstant, the Mt. Gox hack, and the block size wars. They share insider stories from the early days of Bitcoin, highlighting cultural divides and future outlook.
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ANECDOTE

Early Bitcoin Focus

  • In the early days of Bitcoin, around 2011-2013, the focus wasn't even on "crypto," it was solely on Bitcoin.
  • Charlie Shrem joined the Bitcoin Talk forum in May 2011, shortly after Satoshi Nakamoto's disappearance.
INSIGHT

Bitcoin Meritocracy

  • Early Bitcoin adopters were often technical misfits on society's fringes.
  • The community was a meritocracy, valuing contributions over financial gains.
ANECDOTE

BitInstant Funding

  • BitInstant, founded by Charlie Shrem, provided temporary credit for faster Bitcoin transactions.
  • In a seed round, they sold 15% of their company to Roger Ver.
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