Who is Erik Voorhees?

Why was Erik Voorhees a Bitcoin Legend?

Erik Voorhees

Erik Voorhees has made a significant impact on the Bitcoin community, becoming a respected advocate for decentralized finance.

A Journey of Principles

• Global Influence: Originally from Colorado, Erik has lived in several cities, including Dubai and New York. He currently resides in Zug, Switzerland, known for its crypto-friendly environment.

Blockchain LLC founder Nic Carey and Voorhees at their college graduation in 2007.

• Core Beliefs: He argues for the separation of money and state, viewing Bitcoin as a technology that operates beyond the reach of corrupt man-made laws. Erik Voorhees believes that protocol-based rules create a more stable and resilient financial system.

Discovering Bitcoin

Erik Voorhees first bought Bitcoin in 2011 at $30

• First Purchase: Erik first bought Bitcoin in 2011 at $30, feeling he had missed the boat. However, when the price dropped to $2, he seized the opportunity to buy more, demonstrating his dedication to the cryptocurrency.

Bitcoin and the separation of money and state by Erik Voorhees

• Libertarian Beliefs: A passionate libertarian, Erik began a blog when Bitcoin hit $12, calling it “the separation of money and state.” He drew inspiration from notable economists like Mises and Hayek.

Erik Voorhees Blog

The Rise of BitInstant

Erik Voorhees joined BitInstant in 2012

• Erik Voorhees joined BitInstant in 2012, boosting its success.

Erik Voorhees At PorcFest 2012

• At PorcFest 2012, BitInstant’s booth sold thousands of Bitcoins for under $7, showcasing its prominence at a major freedom conference.
• Global Promotion:

Erik Voorhees explained how BTC was a better money — a digital gold.

• By age 25, Erik was traveling globally, advocating Bitcoin as a superior form of money, often referred to as digital gold.
• He celebrated Bitcoin’s first halving when the price was $12.
• Key Events:

Erik Voorhees At Money2020 in 2012

• At Money2020 in 2012, Erik ensured Bitcoin had a booth right next to PayPal, highlighting the competition between decentralized and centralized finance.

BitInstant raised millions

• BitInstant’s peak performance saw it handle 30% of USD exchange volume, with Bitcoin purchases available at CVS and Walgreens.
• Startup Contributions:

Erik taking a photo of one late-night CEO poker game

• BitInstant became central to the 2013 Bitcoin startup scene, with Erik documenting a late-night CEO poker game with pots reaching 100 BTC.

Erik founded FeedZeBirds

• Erik also founded FeedZeBirds, an app that rewarded users with Bitcoin for their tweets.

Innovative Projects

SatoshiDice

• SatoshiDice: Erik’s most successful venture was SatoshiDice, a fair dice game that handled over 50% of all Bitcoin volume at its peak. It brought online gambling to the US during a time when the industry faced significant challenges.
• FeedZeBirds: This app rewarded users with Bitcoin for tweeting, further promoting the use of cryptocurrency.

Paid dividends to shareholders — directly in Bitcoin

• SatoshiDice and FeedZeBirds were unconventional, going public on Bitcoin stock markets, allowing users to buy shares and receive dividends directly in BTC

Facing Regulatory Challenges

SEC sued Erik and shut his companies down

• Legal Battles: Erik faced major challenges, including lawsuits from the SEC that led to the shutdown of BitInstant.

Charlie Shrem was thrown in jail

• Imprisonment of his friend Charlie Shrem.
• Launching ShapeShift: Undeterred, he launched ShapeShift in 2014 under a pseudonym. This decentralized exchange emphasized user privacy and did not require KYC (Know Your Customer) compliance.

Advocating for Bitcoin

Eric launched ShapeShift

• ShapeShift’s Growth: Erik’s exchange thrived, experiencing 1,000% annual growth while maintaining a commitment to privacy and decentralization.

Erik was sued by the SEC again in 2023

• Regulatory Pressure: In 2023, Erik faced another lawsuit from the SEC. However, ShapeShift’s decentralized structure helped protect it from regulatory scrutiny.

• Defending Bitcoin: Erik continues to advocate for Bitcoin as a solution for sound money and financial freedom. He has openly challenged figures like Elizabeth Warren and Sam Bankman-Fried regarding their regulatory stances.

Legacy and Future

• Engaging with the Community: Erik remains a vital figure in the cryptocurrency space, promoting the idea that financial transactions should be free and voluntary.
• Navigating Challenges: His experiences with regulatory pressures have led him to make tough decisions, such as implementing customer accounts for compliance, while still advocating for the principles of financial freedom.

Erik Voorhees is a true legend in the Bitcoin community, embodying innovation and resilience. His journey reflects both the challenges and triumphs of the cryptocurrency movement, establishing him as a key figure in the ongoing pursuit of financial freedom and decentralization.

As Erik continues to champion Bitcoin, his influence will resonate for years to come.