Bitcoin, since its inception in 2009 by the pseudonymous creator Satoshi Nakamoto, has been a tale of innovation, risk-taking, and revolution. But beyond the code and the whitepaper, Bitcoin’s story is intertwined with the lives of the mavericks who took the early plunge into this brave new world. Let’s dive into the stories of some of the most influential figures from the early days of Bitcoin, exploring their roles, contributions, and legacies that helped shape the cryptocurrency space into what it is today.
Gavin Andresen: The Core Developer and Satoshi’s Successor
When Satoshi Nakamoto mysteriously disappeared from the scene in 2011, they entrusted the keys to the Bitcoin kingdom to Gavin Andresen, a software developer from Massachusetts. Andresen became Bitcoin’s de facto lead developer, guiding the project’s technical direction and nurturing the early Bitcoin community.
Andresen is perhaps best known for founding the Bitcoin Foundation, aiming to support the development and adoption of Bitcoin. Under his stewardship, Bitcoin’s software underwent significant improvements in scalability, security, and user interface. However, his strong support for increasing the block size limit as a scaling solution stirred debate within the community, ultimately leading to the Bitcoin Cash fork in 2017. Despite the controversy, Gavin Andresen’s legacy is that of a true pioneer who dedicated himself to making Bitcoin accessible and secure.
Charlie Shrem: The Bitcoiner Who Dreamed Big
Charlie Shrem was one of Bitcoin’s first true entrepreneurs. At just 22 years old, he co-founded BitInstant in 2011, a platform that enabled users to purchase Bitcoin quickly and easily. BitInstant quickly became one of the most popular ways to buy Bitcoin in its early days, processing up to 30% of all Bitcoin transactions at its peak.
Shrem’s charm and visionary ideas made him a celebrity in the crypto community, but the rapid success came at a cost. In 2014, Shrem was convicted for indirectly facilitating drug transactions on the infamous online marketplace Silk Road, leading to a two-year prison sentence. Despite his fall from grace, Shrem remains a vocal advocate for Bitcoin and has continued to build in the space, becoming a notable podcaster and investor.
Erik Voorhees: The Libertarian Visionary and Serial Entrepreneur
Few in the Bitcoin space embody its libertarian ethos like Erik Voorhees. Known for his deep commitment to financial sovereignty and freedom, Voorhees has been at the forefront of Bitcoin’s journey as a serial entrepreneur. In 2011, he founded SatoshiDice, a Bitcoin-based gambling platform that became wildly popular and gave many their first taste of the cryptocurrency.
Later, Voorhees founded ShapeShift, a cryptocurrency exchange that allowed users to swap digital assets without creating an account. His push for privacy, non-custodial exchanges, and resistance to intrusive regulation made him a hero to many. However, in response to increasing regulatory pressures, ShapeShift eventually introduced user accounts, a move that was met with mixed reactions. Despite this, Voorhees continues to be a leading voice advocating for the principles of decentralization and privacy in the crypto world.
Jeff Garzik: The Developer with a Vision for Scaling
Jeff Garzik was another of the key early developers who contributed significantly to Bitcoin’s growth and technical evolution. A highly respected open-source coder, Garzik worked directly with Satoshi Nakamoto, implementing code and proposing improvements that would help solidify Bitcoin’s infrastructure.
Garzik was a passionate advocate for scaling solutions to address Bitcoin’s growing popularity and transactional throughput. Like Gavin Andresen, Garzik supported increasing the block size limit, positioning him on one side of the contentious Bitcoin scaling debate. He later co-founded Bloq, a blockchain startup focused on providing enterprise solutions for blockchain technology. While Garzik’s positions have sometimes been polarizing, his dedication to advancing Bitcoin’s technology has left an indelible mark on the space.
Jared Kenna: The Serial Entrepreneur of Bitcoin Exchanges
Jared Kenna entered the Bitcoin scene as an early miner and investor who made a fortune buying Bitcoin when it was worth pennies. He was among the first to recognize the need for reliable and user-friendly exchanges, and he set out to build one himself. In 2011, Kenna launched Tradehill, one of the first Bitcoin exchanges in the U.S., which quickly became the second-largest trading platform for Bitcoin at the time, only behind Mt. Gox.
Tradehill faced several challenges, including regulatory pressure and banking hurdles, which eventually led to its closure. Despite these setbacks, Kenna continued to be a proponent of the cryptocurrency space. He later went on to explore new ventures, such as a brewery in San Francisco that accepted Bitcoin as payment and an artisan incubator supporting artists and craftsmen using blockchain technology. Jared Kenna’s early vision and willingness to risk it all for Bitcoin cemented his place in the annals of crypto history.
Erik Voorhees: The Libertarian Visionary and Serial Crypto Entrepreneur
Erik Voorhees is one of the most prominent early Bitcoiners, known for his staunch libertarian views and belief in financial sovereignty. Voorhees’ involvement in Bitcoin began in the early 2010s when he started exploring its potential as a means of decentralizing finance and promoting individual freedom. He quickly became a key advocate, openly opposing the traditional banking system.
Voorhees founded multiple crypto businesses, most notably SatoshiDice, an online betting platform built around Bitcoin, which quickly became a massive success, driving a significant portion of Bitcoin transactions during its time. He later sold SatoshiDice for over 126,000 BTC in 2013, marking one of the first large Bitcoin business exits.
However, Voorhees is perhaps best known for founding ShapeShift, a cryptocurrency exchange that allows users to swap digital assets without handing over personal data, aligning with his libertarian values of privacy and decentralization. Over time, Voorhees became a well-known figure who consistently championed crypto’s ideals of freedom and financial independence, serving as both a critic of regulation and a promoter of decentralized technologies.
Jeff Garzik: The Developer Who Saw the Potential
Jeff Garzik was one of the earliest contributors to the Bitcoin codebase after Gavin Andresen. He was a well-established open-source developer before discovering Bitcoin in 2010 and quickly became an influential voice in its development. As one of the main coders, Garzik worked closely with Andresen and other core developers to improve Bitcoin’s scalability and security, helping to lay the groundwork for the software we know today.
Garzik’s influence also extended into the corporate world. He co-founded Bloq, a blockchain solutions provider that aimed to bridge the gap between traditional business practices and the new decentralized era of cryptocurrencies. Garzik played a significant role in the early discussions about Bitcoin scaling, though he often took a more neutral stance compared to other, more divisive figures in the community. A builder at heart, Garzik’s contributions were essential to establishing Bitcoin as a reliable, open-source platform.
Jared Kenna: The Entrepreneurial Miner and Exchange Operator
Jared Kenna entered the Bitcoin scene as an early miner and investor who made a fortune buying Bitcoin when it was worth pennies. He was among the first to recognize the need for reliable and user-friendly exchanges, and he set out to build one himself. In 2011, Kenna launched Tradehill, one of the first Bitcoin exchanges in the U.S., which quickly became the second-largest trading platform for Bitcoin at the time, only behind Mt. Gox.
Tradehill faced several challenges, including regulatory pressure and banking hurdles, which eventually led to its closure. Despite these setbacks, Kenna continued to be a proponent of the cryptocurrency space. He later went on to explore new ventures, such as a brewery in San Francisco that accepted Bitcoin as payment and an artisan incubator supporting artists and craftsmen using blockchain technology. Jared Kenna’s early vision and willingness to risk it all for Bitcoin cemented his place in the annals of crypto history.
Zhou Tong: The Enigmatic Chinese Exchange Tycoon
Zhou Tong, often called the “young Bitcoin millionaire,” founded BTCChina (now BTCC), the first and largest Bitcoin exchange in China. At a time when Bitcoin was still a fringe asset and its potential misunderstood by much of the world, Zhou Tong’s exchange paved the way for the rapid growth of Bitcoin adoption in Asia.
BTCChina quickly became one of the largest and most influential crypto exchanges globally, providing a gateway for millions of users to buy and sell Bitcoin. Tong’s rise to prominence came alongside the explosion of Bitcoin’s popularity in China, but he was also ahead of his time in understanding the potential risks and rewards of the emerging crypto economy. Under his leadership, BTCChina became a major player until regulatory crackdowns in China forced the exchange to adapt and pivot its operations. Today, BTCC operates as a cryptocurrency mining pool and wallet service.
Zhou Tong’s impact on the Asian market helped drive Bitcoin adoption on a global scale and proved that the cryptocurrency movement was not just limited to the Western world.
The Dreamers, the Builders, and the Rebels
The early pioneers of Bitcoin came from diverse backgrounds, but they shared a common vision: to create a new financial ecosystem that empowered individuals over centralized authorities. From developers like Gavin Andresen and Jeff Garzik, who contributed to Bitcoin’s code and shaped its technology, to entrepreneurs like Charlie Shrem and Erik Voorhees, who saw opportunities to build businesses and promote adoption, their contributions laid the foundation for the thriving, dynamic crypto world we know today.
Each of these early figures faced their own challenges — be it legal troubles, debates over Bitcoin’s future, or the volatile nature of the market — but their dedication and passion have left an indelible mark on the crypto landscape. Together, they took a concept that was little more than an experiment in decentralization and transformed it into a multi-billion dollar phenomenon, forever altering the way we perceive money and finance.
As we move forward, it’s essential to look back and remember the contributions of these pioneers — the dreamers, the builders, and the rebels — who helped turn the vision of Bitcoin into a global movement.
The Pioneers of Bitcoin: A Journey with the Early Movers & Shakers was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.