For this episode of Bitcoin Magazine“Meet The Taco Plebs” was joined by the moderator of the podcast “Down The Rabbit Hole” and the Swan Bitcoin employee, Kaz Bycko.
In this episode, we’ve delved into Bycko’s past and talked about what brought him to Bitcoin. As he explained his story about the rabbit hole more and more, I kept seeing similarities with mine. We both got into Bitcoin during our final years of college, then immersed ourselves in college and after college we started pursuing full-time careers in space.
We then delved into what changed in Bycko’s life personally after we found Bitcoin, and why he values Bitcoin so much more. Remember, you are not changing Bitcoin. Bitcoin changes you. After talking a little about high and low time preferences, he pointed out that time preference is more than just your spending habits. How you spend your time and what you do is an important factor in someone’s happiness and success.
Below are some of Bycko’s most interesting thoughts that were shared during the interview. See the full episode for more information.
How did you find Bitcoin and fall into the rabbit hole?
My bitcoin rabbit hole story started when I was in high school (around 2013-2014). At that time, I was taking a college-level government course and began exploring the world of politics, government, and business. At that point in my life, I had no idea what money really was. I was mainly interested in the intersection of how the monetary system works and how it affects geopolitics. Sometime this year I saw a documentary called “The Zeitgeist” that opened my eyes to how broken the monetary system was.
Somewhere deep in the dark crevices of the internet, I remember a thread talking about Bitcoin. I barely gave him the time of day. Fast forward two years to College Kaz. This is where my tech rabbit hole began and I started delving deep into internet privacy, computer security, hacking, etc. This was my second encounter with Bitcoin. I saw all of these sites talking about Bitcoin and the dark web etc and I said, “Woah. That’s pretty cool. “The concept of a hard-to-understand currency that can be used as a medium of exchange on the Internet piqued my interest (little I knew).
How did Bitcoin change your life?
Bitcoin has fundamentally changed my life. It has changed how I define value, how I experience time, my diet, my optimism, my personal finances and much more. Recently, Bitcoin has changed the message I have to the world and how I spend my time expressing it. Two years ago I never thought I’d start a podcast.
What is the most amazing thing about Bitcoin for you?
The difficulty adjustment – it is not enough to have a tightly closed supply. When I first got to Bitcoin, I hardly noticed it. Now I believe it is the most important element of proof of work and fundamental to Number Go Up technology.
How would you advise someone to learn about Bitcoin? What are your favorite podcasts, articles, and books?
My first advice is always: buy some bitcoin. Once someone is worth $ 10, they are more likely to get the itch of, “Okay, now I have some … what is this?” My next recommendation is to read “The Bitcoin Standard” and access Bitcoin Twitter. After that, I informed them about my favorite Bitcoin podcasts: “Tales From The Crypt”, “Bitcoin Rapid Fire” and “Stephen Livera Podcast”.
What’s your best bitcoin pitch?
The wealth rises sharply due to the monetary devaluation. Every day, money saved in dollars and fiat currencies slowly depreciates as new money is created to ease the debt burden of borrowing. Average, everyday people bear the brunt of this practice. Before Bitcoin, the only way to escape this cycle of serfdom was to invest in stocks, bonds, or gold, all of which can be confiscated by the same people who depreciate the currency. Now we have Bitcoin – the insurance policy that pays out the crazier and more ruthless governments and central banks that choose monetary and fiscal policies.