Welcome to another round of Bitcoin News’ interview series where we dive into the stories of Bitcoin operators to help readers get a better understanding of what makes Bitcoin businesses “tick”.
Our goal is to put together the most in-depth set of interviews with similar themes to provide insight into what it takes to run a Bitcoin company and the ethos and values of different Bitcoin firms in the industry.
From Bitcoin OG’s to Startups to Operators, we dive into discussions with anyone and everyone in the Bitcoin world to help provide newcomers with a fun and interesting Bitcoin encyclopedia of knowledge and wisdom that may one day help them should they wish to contribute to Bitcoin.
Read on below for our latest interview with Itai Turbahn, co-founder and CEI of Dynamic.
Bitcoin News: When was the first moment you became passionate about Bitcoin? Where were you and what makes that moment memorable?
Itai: I first encountered Bitcoin shortly after taking a distributed systems class as an undergrad in 2011. The transition from studying theoretical concepts to encountering a real-world application of them was fascinating.
The idea that a decentralized network could be used for peer-to-peer value transfer really struck a chord with me. The potential for disruption in traditional financial systems was clear, and I quickly became excited by the possibilities Bitcoin could offer.
However, it wasn’t until two years later that I moved from theoretical enthusiasm to active participation in the space, and by that point, I felt like I was catching up to what had already begun to gain traction.
Bitcoin News: What do you interpret to be Bitcoin’s core philosophy? How do you best embody this ethos on a regular basis?
Itai: I align with the idea of shared infrastructure for the collective good. Imagine a railway system—if every company built its own tracks, it would be highly inefficient.
Instead, a shared set of rails allows for multiple companies to run their trains on the same network, maximizing efficiency and innovation. I believe Bitcoin embodies this same philosophy, offering open, decentralized rails for financial transactions.
By creating a system that anyone can use, innovate on, and build around, Bitcoin opens up a world of opportunities. I try to live by this ethos by working towards projects that focus on enabling this shared infrastructure, where innovation can happen on top of an open and accessible base.
Bitcoin News: In your particular niche, how do you measure success? Which singular factor contributes most to achieving this metric?
Itai: Success for me is ultimately measured by the degree of adoption and seamless integration of crypto-based solutions into everyday life. Whether it’s crypto wallets in every app or decentralized solutions becoming mainstream, success lies in mainstream adoption.
The singular factor that contributes most to achieving this is simplicity—making the complex world of cryptocurrency accessible and understandable for everyone, without sacrificing security or functionality.
Bitcoin News: Where do you see the greatest potential for innovation within the Bitcoin space?
Itai: The potential for innovation within Bitcoin’s space lies primarily in simplifying user experience and expanding beyond just a store of value.
We’re just scratching the surface in terms of creating efficient and secure infrastructure that makes Bitcoin easier to use, whether for everyday payments, smart contracts, or more. Innovations in scaling and cross-chain interoperability are key to unlocking Bitcoin’s full potential.
Bitcoin News: Would you consider yourself a Bitcoin maximalist? If yes, why? If no, why not?
Itai: I wouldn’t consider myself a Bitcoin maximalist. I’m more of a cryptocurrency maximalist because I believe in the utility and use cases of multiple cryptocurrencies.
Just as the internet accommodates a variety of applications, the crypto ecosystem requires different blockchains and protocols to serve diverse needs.
Decentralization, in my view, demands that there be a variety of competing systems, all of which can innovate in their own unique ways. Bitcoin is undoubtedly foundational, but it’s not the only tool for every use case.
Bitcoin News: What lessons from Bitcoin’s “early days” do you wish new entrants knew?
Itai: The most important lesson from Bitcoin’s early days is “Hodl.” Early adopters knew that the value of bitcoin would fluctuate drastically, but their belief in its long-term potential kept them engaged.
Patience and resilience in the face of volatility were crucial to Bitcoin’s journey. For new entrants, understanding that Bitcoin isn’t just a short-term investment but a long-term revolution in how we think about money is critical.
Bitcoin News: Which are your most impactful Bitcoin relationships, and how do you maintain/nurture them over time?
Itai: The most impactful relationships I’ve had in the Bitcoin space have been with fellow builders and developers. The shared goal of making Bitcoin and cryptocurrency more accessible and functional has created a strong sense of collaboration.
I maintain these relationships by staying involved in community forums, attending conferences, and keeping in touch with fellow builders through social media and regular check-ins. Sharing knowledge and resources is key to nurturing these relationships.
Bitcoin News: Does Bitcoin’s global nature positively or negatively impact the niche you operate in?
Itai: The global nature of Bitcoin has a limited direct impact on my niche, which is focused on underlying infrastructure. While the price of bitcoin itself doesn’t necessarily affect the work I do, it serves as a valuable proxy for the overall adoption of decentralized financial systems.
As more people become familiar with Bitcoin and its potential, there’s a greater need for solutions that can abstract away the complexities of crypto, which is exactly where our work fits in.
Bitcoin News: What’s the most impactful event on your roadmap for 2025 and why?
Itai: While I can’t share the specifics of our roadmap, the core focus for 2025 is simplifying the user experience across all crypto interactions. Imagine a world where crypto complexity is hidden from the end user—whether it’s managing wallets, funding, or interacting with decentralized applications.
Our goal is to prepare for a future where crypto is seamless, integrated, and accessible, enabling mass adoption without the need for specialized knowledge.
Bitcoin News: What advice would you give to a fresh Bitcoiner aiming to leave their mark on the ecosystem?
Itai: My advice would be to focus on building. The crypto ecosystem is rich with technical tools and frameworks that allow you to create something meaningful.
Build something, share it with the community, get feedback, and iterate. The more you engage with the ecosystem in a constructive way, the more you’ll grow as a part of it. And don’t be afraid of failure—it’s part of the process.
Bitcoin News: When Bitcoin has reached global adoption, how would you like your contribution to Bitcoin’s history to be remembered?
Itai: Dynamic’s role is in the background—our company isn’t focused on being in the spotlight. However, I’d be content if, one day, I were to look over someone’s shoulder on a train, bus, or plane, and see an application powered by Dynamic.
It’s about contributing to the infrastructure that allows others to build, thrive, and innovate. The quiet, behind-the-scenes role of enabling crypto adoption is what I’d consider a fulfilling legacy.
Bitcoin News: If you could go back in time and ask Satoshi just one question, what would it be?
Itai: I’d ask Satoshi why he decided to remove op_cat from Bitcoin’s scripting language. It seemed like such a useful and powerful operation, and I’ve often wondered what led to its removal. It’s one of those small decisions that could have had a big impact on how Bitcoin’s scriptability evolved.