S17 E2: Tyler Spalding on Bitcoin Payments, Non-Scammy Altcoins & Bears

Tyler Spalding is a 2011 bitcoiner whose main focus is payments. As the co-founder and former CEO of Flexa, he has a very unique insight on the cryptocurrency industry. This episode was recorded on the road after visiting the Bear Sanctuary in Romania.

00:00:47 – Introduction & Tyler’s Visit to Romania Tyler discusses his trip to Romania, the bear sanctuary, and his passion for supporting bears globally.

00:04:11 – Background: NASA, Payments, and Early Tech Career Tyler shares his background in aerospace engineering, work at NASA, and transition into software and payments.

00:10:09 – Discovering Bitcoin & Early Involvement Tyler recounts learning about Bitcoin in 2011, reading the white paper, and early mining experiences.

00:12:26 – Bitcoin as Payments vs. Store of Value Tyler explains his initial focus on Bitcoin as a payment system and how his views evolved over time.

00:17:26 – Money, Debt, and the Nature of Currency Discussion on the historical relationship between money and debt, and how Bitcoin fits into this context.

00:20:44 – Bitcoin as Commodity, Not Money Tyler argues Bitcoin is more like digital gold than money, and discusses synthetic assets and stablecoins.

00:22:59 – The One Token Dilemma & Use Cases Exploration of Bitcoin’s dual role as payment and store of value, and the resulting community debates.

00:28:46 – Spending Bitcoin: Early Purchases & Experiences Tyler shares stories about spending Bitcoin, including buying Cubs World Series tickets and other goods.

00:35:38 – Freedom of Choice & Critique of Maximalism Tyler advocates for utility maximalism and criticizes toxic Bitcoin maximalism and intolerance toward altcoins.

00:39:25 – Bitcoin’s Usefulness & 21 Million Narrative Debate on what makes Bitcoin useful, the 21 million supply, and the impact of other crypto projects.

00:41:59 – Altcoins’ Positive Impact on Bitcoin Tyler explains how Ethereum and other projects have benefited Bitcoin’s growth and adoption.

00:45:38 – Digital Gold Narrative & Custodianship Discussion on the digital gold narrative, Bitcoin’s slow/expensive transactions, and the rise of custodians.

00:47:42 – Podcast Sponsors & Wallets Host and Tyler discuss various sponsors, wallets, and services in the crypto ecosystem.

00:55:26 – Use Case Magazine & Documenting Crypto Adoption Tyler introduces his magazine “Use Case,” which documents real-world crypto use cases and includes a hardware wallet.

01:00:48 – Blocksize Wars: Big Blocks vs. Store of Value Tyler reflects on the blocksize wars, his initial support for big blocks, and how his views have changed.

01:09:47 – Forked Coins & Handling BCH Tyler discusses his approach to Bitcoin Cash after the fork and the uncertainty at the time.

01:17:33 – Bitcoin Cash, Scaling, and Miner Dynamics Analysis of Bitcoin Cash’s technical progress, miner incentives, and its ongoing relevance.

01:23:10 – Multiple Currencies & Historical Parallels Comparison of today’s crypto landscape to historical periods with many local currencies.

01:27:47 – Bitcoin’s Uniqueness & Market Realities Debate on whether Bitcoin is truly unique and the challenges of paper Bitcoin and institutional adoption.

01:30:03 – Network Usage vs. Price Focus Tyler emphasizes the importance of real network usage and adoption over price speculation.

01:31:59 – Crypto Celebrities & Community Engagement Stories about working with celebrities and community members in crypto promotional campaigns.

01:46:08 – Five Legitimate Altcoins & Decentralization Tyler lists Ethereum, Zcash, Solana, and others as legitimate projects, and discusses what makes a project a scam.

02:11:55 – Monero, Zano, and Privacy Coins Discussion of Monero, Zano, and the technical and community differences among privacy coins.

02:20:58 – Current Projects: Flexa, AMP, and Anvil Tyler describes his ongoing work with Flexa, AMP, and the Anvil DeFi protocol for collateral management.

02:26:05 – Proof of Stake vs. Proof of Work Tyler explains his pre