Bitcoin was only launched in 2009, a mere 14 years ago. That means that all Bitcoin companies are also quite new, as the infrastructure – blockchain explorers, exchanges, and so on – are even newer than 2009, with no such companies or products existing when Satoshi Nakamoto mined the Genesis block that January afternoon.
One of those companies is Coinbits, the bitcoin-first app which claims to be the first bitcoin-only exchange. This week on the Invezz podcast, I spoke to Dave Birnbaum, Director of Product, about what it’s like working on the design side of Bitcoin.
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Dave described his journey through Silicon Valley and down many different avenues in the tech world, before he finally came upon Bitcoin. First paid in the novel cryptocurrency back in 2013 for working on a website back in 2013, he thought little of it. Fast forward to 2016, however, and Dave began to get more and more into it, before studying it in depth during the pandemic.
Today, he works for Coinbits. The app has pushed the idea of dollar-cost averaging hard, their “round-up” feature proving popular among users. This allows the rounding up purchases, with the round-up amount invested in Bitcoin, thus allowing users to purchase Bitcoin incrementally. Dave chats about how this has fuelled usage of the app, and how the platform has evolved since its inception.
Of course, the bear market is an unavoidable topic. While prices have rebounded in the last quarter, many companies are still struggling in the industry, with layoffs commonplace over the last year and volumes suppressed across the space. I asked Dave about working in such a volatile industry, and how this has fed through to Coinbits.
A variety of topics were touched on, but more than any other, Dave gave his thoughts on product design and Bitcoin – how he got into it, where he believes it is headed, what advice he would give for anyone thinking about working in the area, and more.
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