Ep 29 - Kyle Samani on Why Bitcoin as Digital Gold Might Be a Myth
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Saurabh. Hey, Joel. Pleasure to be on the show. Thanks for having me on.
So we typically get into people's background, but I think I have a different idea of how to do that here. Kyle, I mean, while I was preparing, I was going through your blog way back till January of 3rd, 2013. I think that's when you started writing publicly. Yeah. And since then, you've written about bunch of topics like from health care to monitor reviews to Apple Watch, Google Plus, and whatnot. And interestingly, in 2015, I see this article titled Bitcoin will disrupt working capital management. Right? So let's just start there.
Oh, man. I don't even remember the post you're referring to. You said 2015? 2015.
Yeah. I think November 2015.
I mean, that's wow. That's before I even really got into crypto. I honestly don't even what did I say?
Oh, you're basically saying that Bitcoin will be the payment rails of the Internet. And since we can make more frequent and micro level payments, it'll improve working capitals of, like, typical businesses. That was the thesis. I
see. I see. I mean, it's very funny to reflect on that. At the time, you know, I was 25 years old at that time, and it was very biased towards there's always a new technology, and the new technology always wins at the expense of the old technology. And I didn't appreciate inertia and a bunch of other things. I also did not understand fully how Bitcoin worked. I just never bothered to really understand proof of work and and all the scalability challenges as of that time or the correct understanding of that blog post. I was very pro new software things without much regard for other variables. To
be honest, I think if you replace Bitcoin with stablecoins, I think that blog post still kind of holds true.
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