1
00:00:00,000 --> 00:00:01,840
Joe, welcome to Presidio Bitcoin.

2
00:00:02,140 --> 00:00:03,000
Thank you for having me.

3
00:00:03,280 --> 00:00:05,020
Yes, I'm so excited to have you here.

4
00:00:05,700 --> 00:00:13,080
Joe Carlo is the co-owner of Pink Owl Coffee, a cafe that started in San Rafael, California, and now has three different locations.

5
00:00:14,000 --> 00:00:18,240
Joe and his partner, Sandra, founded Pink Owl with a mission that runs deeper than great coffee.

6
00:00:18,780 --> 00:00:22,820
They also donate a portion of their revenue to breast cancer research.

7
00:00:23,820 --> 00:00:31,760
Pink Out Coffee is also one of the first businesses to adopt Bitcoin payments via Square as part of their strategy to hedge inflation and build value.

8
00:00:33,420 --> 00:00:36,280
So, this is very exciting that you're here.

9
00:00:36,840 --> 00:00:42,580
And Joe is also here tonight to attend our Builder Meetup, which we're about to go to after this.

10
00:00:42,700 --> 00:00:43,300
Right after this.

11
00:00:43,500 --> 00:00:44,460
Yes, it'll be fun.

12
00:00:44,980 --> 00:00:45,720
I'm excited.

13
00:00:46,160 --> 00:00:46,700
Yes, me too.

14
00:00:46,700 --> 00:00:56,020
So my first question for you is, Joe, can you just tell us a little bit about your story and how you and Sandra decided to start Pink Al Coffee?

15
00:00:56,020 --> 00:01:16,880
Yeah. So, Sandra was diagnosed with breast cancer in 2018. And I was in the finance corporate world and she was in the holistic medicine world. And it was kind of hard for her to continue to do her field.

16
00:01:16,880 --> 00:01:21,440
so we said it would be really cool to come up with this community coffee shop

17
00:01:21,440 --> 00:01:25,160
just a one little stand or location

18
00:01:25,160 --> 00:01:28,020
and we can both work at it together

19
00:01:28,020 --> 00:01:31,960
that's how Pink Owl was started

20
00:01:31,960 --> 00:01:35,260
we wanted a name that no one had

21
00:01:35,260 --> 00:01:37,860
so if you went to New York, you went to London, you went to Paris

22
00:01:37,860 --> 00:01:41,960
or anywhere, there's another Pink Owl coffee in the world

23
00:01:41,960 --> 00:01:45,740
so a couple bottles of wine

24
00:01:45,740 --> 00:01:54,160
And we came up with the name Pink Owl and we, January 2020, we opened up our first location.

25
00:01:55,060 --> 00:01:55,320
Yes.

26
00:01:55,380 --> 00:01:59,640
And your first location is in San Rafael, which is actually where I'm from.

27
00:01:59,640 --> 00:02:02,920
And I have been to the Pink Owl many times.

28
00:02:03,060 --> 00:02:08,540
So I was very excited to see that you guys were a very early adopter of Bitcoin.

29
00:02:08,960 --> 00:02:09,160
Yes.

30
00:02:10,180 --> 00:02:14,740
So how did you actually get interested in Bitcoin?

31
00:02:14,740 --> 00:02:41,700
Yeah. So, um, I think back in 2014 is when I first got involved in Bitcoin. Um, just for my own personal, it was like, uh, it was another tool to, uh, I, I own some stock, some gold, some mutual funds. And it was just another thing I can, you know, kind of invest in.

32
00:02:41,700 --> 00:02:44,500
There was a lot of buzz about it.

33
00:02:44,820 --> 00:02:46,560
It was a little difficult to buy back then,

34
00:02:47,060 --> 00:02:49,960
but definitely when the bigger companies like Coinbase,

35
00:02:50,020 --> 00:02:53,780
Gemini came about, it was easier.

36
00:02:53,960 --> 00:02:57,840
They kind of made it easy to acquire and purchase.

37
00:02:59,420 --> 00:03:05,080
So I think that really is what got a lot of people involved in it

38
00:03:05,080 --> 00:03:08,200
because it was so easy to transact at that time

39
00:03:08,200 --> 00:03:10,120
if you weren't super techie.

40
00:03:10,640 --> 00:03:11,080
Totally.

41
00:03:11,080 --> 00:03:23,620
And then kind of at what point did Bitcoin turn into something that you used as a personal investment to now being part of your business and wanting to be part of your business?

42
00:03:23,620 --> 00:03:46,220
Yeah, so a person I just always bought and stored and held Bitcoin for my own personal retirement. But I think the question you're asking is, in 2023, Square allowed businesses to allocate a percentage of their sales towards Bitcoin.

43
00:03:46,220 --> 00:03:53,060
and we jumped the bandwagon and we went all in and said, you know, this is a really good,

44
00:03:53,260 --> 00:03:57,660
this is like way before like treasury companies or anything.

45
00:03:57,660 --> 00:04:00,640
We're like, you know, we don't know what we're going to do with all this Bitcoin,

46
00:04:00,640 --> 00:04:06,200
but we're going to, they take a percentage and, you know, DCA every day.

47
00:04:06,340 --> 00:04:11,300
It just automatically, it's set it and forget it, you know, and that's what we did.

48
00:04:11,300 --> 00:04:23,760
Did you have any hesitation from kind of turning Bitcoin from a personal side to actually being part of your business? Or did it feel kind of natural from the positive experience you had had in the past?

49
00:04:23,760 --> 00:04:46,960
It felt natural. I mean, when I got involved in Bitcoin, it was, I mean, I think on the low, it was like $300. But I think really like when I got involved, it was like $4,000 or something like that. And you just, you see that hedge against inflation, just, you know, you see Bitcoin just rising. And it's just such a great store of value that I knew it would be really good for the business.

50
00:04:46,960 --> 00:04:50,120
I didn't know at that point what we could do with it.

51
00:04:50,460 --> 00:04:53,060
And I think that's what a lot of people are still figuring it out.

52
00:04:53,320 --> 00:04:56,300
But I know that it's helped us out tremendously.

53
00:04:56,560 --> 00:05:05,020
And, you know, there's times that we've had to, you know, to get rid of a little bit of it, to upgrade or to transact in different ways.

54
00:05:05,220 --> 00:05:10,040
But, you know, it's been a safe haven for us.

55
00:05:11,180 --> 00:05:12,320
That's amazing to hear.

56
00:05:12,320 --> 00:05:21,180
And yeah, I think that that can be hard for, you know, Bitcoin has already kind of defined this value proposition of being a great store of value.

57
00:05:21,180 --> 00:05:26,460
But in terms of, you know, being money, being a means of exchange, it's still kind of it's getting there, right?

58
00:05:26,880 --> 00:05:27,000
Yeah.

59
00:05:27,300 --> 00:05:27,520
Yeah.

60
00:05:27,840 --> 00:05:33,320
So how long have you guys been accepting Bitcoin as payment?

61
00:05:33,320 --> 00:05:48,280
Yeah, so we have been accepting Bitcoin as payment for probably like around like, I don't know, like four to six months with Cash App, you could, you know, accept Bitcoin as payment.

62
00:05:48,280 --> 00:05:56,040
And so when Square did that integration, maybe it was a beta for them, but it wasn't on their interface.

63
00:05:56,080 --> 00:05:58,640
Everything went over to Cash App.

64
00:05:59,040 --> 00:06:12,915
So your daily out allocation whatever percentage 5 10 went over to Cash App Now everything on their interface So we were able to accept because it a wallet

65
00:06:12,915 --> 00:06:16,195
so we could accept Bitcoin as payment back then.

66
00:06:17,015 --> 00:06:20,435
But since Square is released in this new product,

67
00:06:20,995 --> 00:06:27,435
we'll be pushing and accepting Bitcoin as payment a lot.

68
00:06:28,355 --> 00:06:28,615
Amazing.

69
00:06:28,895 --> 00:06:29,055
Yeah.

70
00:06:29,415 --> 00:06:34,115
And do you have many customers coming in, like, wanting to pay in Bitcoin?

71
00:06:34,535 --> 00:06:35,595
Yeah, definitely.

72
00:06:36,275 --> 00:06:40,695
Not only the customers that we've talked about, they seem to wear my shirt.

73
00:06:41,535 --> 00:06:45,275
Also, we posted already some social media.

74
00:06:45,635 --> 00:06:50,235
Our social media team, we have a couple, two or three people that run our social media team,

75
00:06:50,235 --> 00:06:59,195
have already created months ago content that we'll be accepting Bitcoin as payments and come on in and support us.

76
00:06:59,415 --> 00:07:03,915
And then other things like our meetup groups and, you know, friends and whatnot.

77
00:07:04,155 --> 00:07:09,795
So we've gotten pretty good, you know, support with people coming in, paying with Bitcoin,

78
00:07:09,795 --> 00:07:12,555
which I was shocked because I'm like, people don't want to sell it.

79
00:07:12,615 --> 00:07:13,935
They don't want to get rid of it.

80
00:07:14,155 --> 00:07:16,135
And the true Bitcoiners, they do.

81
00:07:16,415 --> 00:07:21,075
They want to transact with it because they know like $4 is going to do nothing, $10 is going to do nothing.

82
00:07:21,175 --> 00:07:27,175
And they know to transact, it's going to get more people involved, get more people excited, get more people comfortable.

83
00:07:27,175 --> 00:07:35,595
Have you seen that getting maybe some of your staff interested in Bitcoin or customers interested in Bitcoin?

84
00:07:35,595 --> 00:08:00,735
Definitely. I've definitely told a bunch of our staff members, and we're about to have like a holiday meeting or party. I have told a couple of our staffers, I mean our employees, that I want anyone that wants to come to us to learn about what we know about Bitcoin, because you can get direct deposits.

85
00:08:00,735 --> 00:08:07,675
you know you transact as a matter of fact my social media person sage which is really good

86
00:08:07,675 --> 00:08:13,715
she's in school in washington i actually offered to pay her in bitcoin and she said no i'll take

87
00:08:13,715 --> 00:08:20,635
dollars and i said why she just doesn't know about it so i said why i just give you like a little bit

88
00:08:20,635 --> 00:08:26,635
of bitcoin you know let's see you'll get your feet wet get you started i think a little bit

89
00:08:26,635 --> 00:08:32,535
helps i mean uh yeah i mean i get paid in bitcoin and that was definitely a real shock when that

90
00:08:32,535 --> 00:08:37,735
first happened um i mean it's amazing but also it is very it's a very different experience yeah

91
00:08:37,735 --> 00:08:42,435
than getting paid in dollars there is volatility that you have to consider i mean you can get paid

92
00:08:42,435 --> 00:08:47,675
and then the price can go up and down when you're like asleep um so i guess i'm curious too like

93
00:08:47,675 --> 00:08:55,195
how has volatility like affected your business no i don't even look at it i zoom out i mean if you

94
00:08:55,195 --> 00:09:00,295
zoom out, even like people right now, you know, oh, you know, these people are getting liquidated

95
00:09:00,295 --> 00:09:05,095
and they're short in Bitcoin and they're long in Bitcoin and they're, I'm not a day trader.

96
00:09:05,415 --> 00:09:12,095
I don't want to be a day trader. I just want to set it and forget it type of thing. You know,

97
00:09:12,515 --> 00:09:18,235
I love watching many different podcasts, many different, I learn something new every day,

98
00:09:18,235 --> 00:09:23,635
but I'll never truly like be a day trader or any of that.

99
00:09:23,775 --> 00:09:30,075
So for me to set it and forget and just DCA and has been a game change for me.

100
00:09:30,155 --> 00:09:34,835
And I mean, yes, right now it looks like it's going to go down.

101
00:09:34,895 --> 00:09:38,135
Are we in a bear market? Are we in a bull market? It doesn't matter.

102
00:09:38,255 --> 00:09:39,415
I don't care if it goes down to 25.

103
00:09:39,415 --> 00:09:41,295
I'm going to continue to do what we're doing.

104
00:09:41,415 --> 00:09:43,395
And this is going to go up to 200. This is going to go down to 70.

105
00:09:43,715 --> 00:09:46,075
This is going to go up to a million. This is going to go down to 200 grand.

106
00:09:46,175 --> 00:09:47,455
This is going to go up to 5 million.

107
00:09:47,455 --> 00:09:53,875
doesn't matter to me like i don't i don't think about that yeah um i mean that's great that you

108
00:09:53,875 --> 00:10:00,175
don't think about it so something that we're thinking about on the spiral side is better

109
00:10:00,175 --> 00:10:07,075
promoting bitcoin to merchants and specifically communicating the merchant benefits and one of

110
00:10:07,075 --> 00:10:14,415
the main ones is credit card fees yes like accepting bitcoin how to that's just much better

111
00:10:14,415 --> 00:10:16,455
for you as a business owner, right?

112
00:10:16,815 --> 00:10:18,495
Yeah, you don't have to worry about chargebacks,

113
00:10:19,415 --> 00:10:20,735
transacts fast.

114
00:10:22,895 --> 00:10:25,455
It's, yeah, there's no fees as of right now,

115
00:10:25,515 --> 00:10:28,235
at least I think for the first year,

116
00:10:28,235 --> 00:10:29,655
they're not doing any fees.

117
00:10:29,935 --> 00:10:34,055
And the fees can become really high

118
00:10:34,055 --> 00:10:35,875
when it comes to, you know,

119
00:10:35,935 --> 00:10:37,255
all the products and everything.

120
00:10:37,415 --> 00:10:38,895
So anywhere where we can save,

121
00:10:39,235 --> 00:10:42,435
and trust me, I reach out to our rep once a year

122
00:10:42,435 --> 00:10:44,375
and say, is there anywhere we can cut back

123
00:10:44,375 --> 00:10:45,875
Can you cut back here or there or whatever?

124
00:10:45,995 --> 00:10:51,535
Because every dollar, you know, heads up when it comes to those fees.

125
00:10:51,895 --> 00:10:56,375
So, yeah, I think Bitcoin is going to be a huge way to transact.

126
00:10:57,595 --> 00:10:59,375
And you'll be able to do everything with it.

127
00:10:59,435 --> 00:11:01,095
We'll be able to pay invoices with it.

128
00:11:01,955 --> 00:11:04,215
Or we'll be able to collect invoices with it.

129
00:11:04,255 --> 00:11:06,515
We'll be able to have our coffee club with it.

130
00:11:06,555 --> 00:11:08,075
We'll be able to wholesale with it.

131
00:11:08,075 --> 00:11:10,035
So we'll be able to get paid in it.

132
00:11:10,175 --> 00:11:11,655
You know, it's going to be great.

133
00:11:12,195 --> 00:11:13,535
Yeah, saving fees is huge.

134
00:11:13,535 --> 00:11:23,395
And I feel like this is like such an easy win, especially for Square merchants, because Bitcoin is this feature is going to be, you know, GA very soon.

135
00:11:23,495 --> 00:11:25,615
It's such a simple way for them to save fees.

136
00:11:25,875 --> 00:11:31,375
And yeah, I mean, fees up to like, you know, whatever, 3%, that can really add up.

137
00:11:31,895 --> 00:11:35,515
Huge. Thousands, tens of thousands of money in your business.

138
00:11:37,155 --> 00:11:37,595
Amazing.

139
00:11:37,595 --> 00:11:39,795
another question

140
00:11:39,795 --> 00:11:40,655
something that we're also

141
00:11:40,655 --> 00:11:41,815
thinking about on the Spiral team

142
00:11:41,815 --> 00:11:43,615
is how to make it known

143
00:11:43,615 --> 00:11:44,935
that you accept Bitcoin

144
00:11:44,935 --> 00:11:45,675
as a payment

145
00:11:45,675 --> 00:11:46,655
what do you do

146
00:11:46,655 --> 00:11:47,595
right now

147
00:11:47,595 --> 00:11:48,495
to make it known

148
00:11:48,495 --> 00:11:49,335
that Bitcoin

149
00:11:49,335 --> 00:11:50,215
is a payment option

150
00:11:50,215 --> 00:11:50,835
for your customers

151
00:11:50,835 --> 00:11:52,535
we ordered some stickers

152
00:11:52,535 --> 00:11:53,655
that we're going to put out

153
00:11:53,655 --> 00:11:54,455
by the register

154
00:11:54,455 --> 00:11:56,495
Square hasn't

155
00:11:56,495 --> 00:11:57,475
like supplied those yet

156
00:11:57,475 --> 00:11:58,375
they do have like

157
00:11:58,375 --> 00:11:58,915
cute little stickers

158
00:11:58,915 --> 00:11:59,455
with their release

159
00:11:59,455 --> 00:11:59,995
or whatever

160
00:11:59,995 --> 00:12:00,315
but

161
00:12:00,315 --> 00:12:02,255
so we will

162
00:12:02,255 --> 00:12:03,215
put those out

163
00:12:03,215 --> 00:12:14,429
which we couldn before social media that another way that we put the word out there I hoping that like we probably do like a text campaign and an email campaign or something like that

164
00:12:14,429 --> 00:12:17,529
But I'm hoping that like Square with their database

165
00:12:17,529 --> 00:12:19,589
sends like a blast,

166
00:12:20,209 --> 00:12:21,529
you know, something like maybe

167
00:12:21,529 --> 00:12:24,249
here's $5 free in Bitcoin.

168
00:12:24,489 --> 00:12:26,949
Use it at these merchants or whatever.

169
00:12:27,089 --> 00:12:28,729
Anyone that, you know, except Square,

170
00:12:28,969 --> 00:12:30,129
you can use this $5

171
00:12:30,129 --> 00:12:34,849
or allow dollars to automatically be converted into Bitcoin,

172
00:12:34,989 --> 00:12:35,729
something like that.

173
00:12:35,989 --> 00:12:36,949
Yeah, to make it more obvious.

174
00:12:37,009 --> 00:12:38,029
Yeah, to make it more obvious.

175
00:12:38,429 --> 00:12:42,069
If there was something that you could put by the register,

176
00:12:42,549 --> 00:12:45,009
say maybe a plushie or something smaller,

177
00:12:45,869 --> 00:12:46,969
would that be fun?

178
00:12:47,089 --> 00:12:48,089
Yes, definitely.

179
00:12:48,589 --> 00:12:51,069
What would be the, the plushie's kind of large, right?

180
00:12:51,769 --> 00:12:53,289
That takes up a lot of counter space.

181
00:12:53,289 --> 00:12:55,809
I mean, yes and no, you know.

182
00:12:55,809 --> 00:12:58,349
I think it'd be cool

183
00:12:58,349 --> 00:12:59,849
if they had like a

184
00:12:59,849 --> 00:13:01,269
like a latte

185
00:13:01,269 --> 00:13:02,929
orange or something

186
00:13:02,929 --> 00:13:04,029
maybe like a pumpkin spice

187
00:13:04,029 --> 00:13:04,549
or something

188
00:13:04,549 --> 00:13:05,309
with like a bee

189
00:13:05,309 --> 00:13:06,269
and you know

190
00:13:06,269 --> 00:13:08,089
and I think that'd be

191
00:13:08,089 --> 00:13:08,869
because we're a cafe

192
00:13:08,869 --> 00:13:09,309
yeah

193
00:13:09,309 --> 00:13:10,329
but

194
00:13:10,329 --> 00:13:12,249
yeah

195
00:13:12,249 --> 00:13:13,489
like something that's like

196
00:13:13,489 --> 00:13:15,149
customized for each type of business

197
00:13:15,149 --> 00:13:15,669
like you know

198
00:13:15,669 --> 00:13:16,369
if it's like a pizza

199
00:13:16,369 --> 00:13:17,489
maybe like a pizza shop

200
00:13:17,489 --> 00:13:18,069
if it's a burger pizza

201
00:13:18,069 --> 00:13:19,249
or some fries or something

202
00:13:19,249 --> 00:13:20,509
if it's like an ice cream place

203
00:13:20,509 --> 00:13:21,369
like a little cone

204
00:13:21,369 --> 00:13:21,909
like

205
00:13:21,909 --> 00:13:22,969
something that

206
00:13:22,969 --> 00:13:23,989
fits with your business

207
00:13:23,989 --> 00:13:24,849
to want to put it

208
00:13:24,849 --> 00:13:25,609
by the register

209
00:13:25,609 --> 00:13:29,229
So someone's going to think about this and become like a VFriends.

210
00:13:29,349 --> 00:13:35,909
They're going to create some type of a Bitcoin plush series for restaurants.

211
00:13:36,449 --> 00:13:36,669
Yes.

212
00:13:36,789 --> 00:13:36,989
Yes.

213
00:13:37,629 --> 00:13:37,949
Okay.

214
00:13:38,029 --> 00:13:38,529
Good idea.

215
00:13:38,669 --> 00:13:40,649
Something that we will take into consideration.

216
00:13:40,989 --> 00:13:41,149
Yes.

217
00:13:42,369 --> 00:13:49,749
What kind of questions and feedback have you gotten from other merchants in Marin about accepting Bitcoin?

218
00:13:49,869 --> 00:13:51,409
Have they been positive, negative?

219
00:13:53,809 --> 00:13:54,869
You know Marin.

220
00:13:54,869 --> 00:13:56,249
I do know, Brad.

221
00:13:58,349 --> 00:14:02,189
There's a lot of old money there.

222
00:14:04,169 --> 00:14:11,989
We're slowly transitioning into this new era of digital capital and digital money.

223
00:14:12,269 --> 00:14:14,449
And I think it's going to take a while.

224
00:14:14,449 --> 00:14:24,289
I think we have BlackRock and all these big institutions buying Bitcoin and ETFs and the words getting out there.

225
00:14:24,869 --> 00:14:31,529
I think that we need that to happen first before a lot of these merchants because they're so used to doing what they do.

226
00:14:31,609 --> 00:14:42,029
I think that some of them that use Square are automatically going to transition because they'll see videos and they'll see releases and they'll see all these things that they're doing and they don't want to be left behind.

227
00:14:42,029 --> 00:14:52,349
I know that with Square, almost every single product that they release, some of them are a flop, but 90% of them are really good and they actually help our business.

228
00:14:52,349 --> 00:14:53,829
and time is money.

229
00:14:53,949 --> 00:14:55,149
It's a great thing.

230
00:14:55,289 --> 00:14:56,869
So I think that a lot of businesses

231
00:14:56,869 --> 00:14:58,329
will adapt to it.

232
00:14:58,769 --> 00:15:01,269
We got to like kind of get this ball rolling

233
00:15:01,269 --> 00:15:02,949
and like really be the front runners

234
00:15:02,949 --> 00:15:04,069
of the industry

235
00:15:04,069 --> 00:15:06,009
and let other businesses know

236
00:15:06,009 --> 00:15:07,749
that this is a cool thing.

237
00:15:08,309 --> 00:15:09,729
It is a cool thing.

238
00:15:09,969 --> 00:15:10,829
And I mean, yeah,

239
00:15:10,889 --> 00:15:12,689
going on podcasts is great.

240
00:15:13,289 --> 00:15:15,869
I'm curious to see how many businesses,

241
00:15:16,129 --> 00:15:17,849
like as you'll have to turn on the feature

242
00:15:17,849 --> 00:15:19,309
to accept Bitcoin payments

243
00:15:19,309 --> 00:15:21,649
or to do Bitcoin conversions.

244
00:15:21,649 --> 00:15:23,949
So I'm curious to see how many merchants do it.

245
00:15:24,569 --> 00:15:36,529
Yeah, we, I feel like a lot of businesses will do it once there's more Bitcoin being accepted as a payment.

246
00:15:36,909 --> 00:15:46,669
Because then they'll see like, you know what, hey, I made like $13 last month in Bitcoin with like whatever, like, or $300 with 50 transactions.

247
00:15:46,669 --> 00:15:50,629
And it's like, oh, if I could just allocate 1%, 3%.

248
00:15:50,629 --> 00:15:58,949
I mean, again, all these institutional investors saying, put a percentage towards Bitcoin.

249
00:15:59,129 --> 00:16:07,689
I mean, if you're heavy in gold or treasury bonds or whatever you're doing, why not put 2%, 3%, 5%?

250
00:16:07,769 --> 00:16:12,989
We put like 100%, but why not put a percentage and see?

251
00:16:12,989 --> 00:16:17,889
And I think you'll see it's the best performance asset.

252
00:16:17,889 --> 00:16:24,269
even from today on, it's going to outperform everything. There will be trillionaires

253
00:16:24,269 --> 00:16:27,429
with this space, and you can never say that with any other industry.

254
00:16:29,169 --> 00:16:34,369
Crazy. Well, I'm very excited to see another aspect of kind of, you know, getting Bitcoin

255
00:16:34,369 --> 00:16:38,849
used as money more beyond merchants accepting it is getting Bitcoiners to pay with this. And we

256
00:16:38,849 --> 00:16:43,709
were kind of briefly talking about this before is a lot of Bitcoiners don't, they don't want to

257
00:16:43,709 --> 00:16:44,309
on their Bitcoin.

258
00:16:44,449 --> 00:16:44,849
It's kind of,

259
00:16:45,009 --> 00:16:46,409
but to be fair,

260
00:16:46,889 --> 00:16:48,429
it is kind of a shift

261
00:16:48,429 --> 00:16:51,289
in what Bitcoiners

262
00:16:51,289 --> 00:16:52,829
are thought to believe.

263
00:16:52,949 --> 00:16:53,129
I mean,

264
00:16:53,129 --> 00:16:53,769
there was just like,

265
00:16:53,789 --> 00:16:54,009
you know,

266
00:16:54,049 --> 00:16:54,649
the hodl,

267
00:16:54,769 --> 00:16:55,869
like don't sell your Bitcoin

268
00:16:55,869 --> 00:16:57,409
narrative.

269
00:16:57,409 --> 00:16:58,209
And now we're like,

270
00:16:58,249 --> 00:16:58,349
no,

271
00:16:58,389 --> 00:16:59,209
use it as money.

272
00:16:59,549 --> 00:17:00,169
How do you think

273
00:17:00,169 --> 00:17:00,689
we can get people

274
00:17:00,689 --> 00:17:02,109
to use it as money more?

275
00:17:02,289 --> 00:17:02,989
Is this merchants

276
00:17:02,989 --> 00:17:04,229
wanting it?

277
00:17:04,309 --> 00:17:05,529
Is this awareness

278
00:17:05,529 --> 00:17:06,189
we can spread?

279
00:17:06,669 --> 00:17:07,389
I think it's a little bit

280
00:17:07,389 --> 00:17:08,509
of awareness we can spread.

281
00:17:08,669 --> 00:17:09,909
I think that merchants

282
00:17:09,909 --> 00:17:11,009
are going to like

283
00:17:11,009 --> 00:17:11,789
give incentives.

284
00:17:12,029 --> 00:17:12,489
Like one of the things

285
00:17:12,489 --> 00:17:13,149
that we're going to do

286
00:17:13,149 --> 00:17:13,669
is we're going to let

287
00:17:13,669 --> 00:17:18,689
offer like 21% off if you pay in Bitcoin.

288
00:17:18,929 --> 00:17:20,329
So it's like if you have the Bitcoin

289
00:17:20,329 --> 00:17:22,649
and it's like $6 for a latte,

290
00:17:22,989 --> 00:17:25,349
but you can get it for 21% off

291
00:17:25,349 --> 00:17:27,809
if you use Bitcoin versus fiat.

292
00:17:27,809 --> 00:17:31,689
I mean, you can buy Bitcoin with your fiat

293
00:17:31,689 --> 00:17:35,169
and save 21% with a coffee.

294
00:17:35,389 --> 00:17:37,169
So I think it's going to be strategies like that

295
00:17:37,169 --> 00:17:40,429
and creative solutions that is going to help out.

296
00:17:40,589 --> 00:17:41,729
I think so too.

297
00:17:41,749 --> 00:17:42,229
The adoption.

298
00:17:42,229 --> 00:18:00,009
Yeah, I think there's going to be some time that it takes. We're kind of also talking about something that I'm interested in maybe better communicating is if you're a Bitcoiner or you hold Bitcoin, maybe you are part of the sailor crowd and you just buy Bitcoin purely as an investment.

299
00:18:00,009 --> 00:18:19,804
using Bitcoin even just 1 or a tiny amount will help your investment because it will help adoption and it will help you know get the brand more awareness So that really just helps kind of the Bitcoin you have Yeah And it helps network security Mm So hopefully we see a bigger push of that

300
00:18:20,164 --> 00:18:20,724
I think so.

301
00:18:21,544 --> 00:18:21,784
Okay.

302
00:18:22,144 --> 00:18:22,744
Switching gears.

303
00:18:23,304 --> 00:18:25,344
So I know you've been

304
00:18:25,344 --> 00:18:26,944
in the Bitcoin space for some time,

305
00:18:27,864 --> 00:18:29,504
but if you could be

306
00:18:29,504 --> 00:18:32,064
in a merchant's shoes right now,

307
00:18:32,144 --> 00:18:33,544
maybe who's, you know,

308
00:18:33,584 --> 00:18:35,204
doesn't have experience with Bitcoin,

309
00:18:35,404 --> 00:18:37,144
are there any books or podcasts

310
00:18:37,144 --> 00:18:41,164
or messaging that you would say to them that you think would help?

311
00:18:41,884 --> 00:18:45,344
Yeah, Broken Money, The Bitcoin Standard.

312
00:18:46,424 --> 00:18:51,164
I think, and then plenty of podcasts, Natalie Brunel,

313
00:18:51,544 --> 00:18:55,564
I mean, Anthony Pompanoly, like just there's so many out there.

314
00:18:56,604 --> 00:18:59,644
But I think until you get your feet wet,

315
00:18:59,644 --> 00:19:03,964
until you buy your first stat

316
00:19:03,964 --> 00:19:08,504
and you're logging in

317
00:19:08,504 --> 00:19:10,464
and you're looking at it throughout the night

318
00:19:10,464 --> 00:19:13,744
and you're looking at the volatility of it going up and down

319
00:19:13,744 --> 00:19:16,984
and maybe you transact and buy a cup of coffee with it.

320
00:19:17,064 --> 00:19:19,844
And I think until you actually transact with it,

321
00:19:20,024 --> 00:19:21,984
you're never going to understand it.

322
00:19:21,984 --> 00:19:25,344
So I think that that's going to be the first thing

323
00:19:25,344 --> 00:19:29,404
that I would encourage every business and merchant

324
00:19:29,404 --> 00:19:36,444
to do and customer and people who want to learn about it totally a few more questions we're

325
00:19:36,444 --> 00:19:43,284
running out of time okay this is also not getting technical here but i'm very curious

326
00:19:43,284 --> 00:19:49,604
of your perception as a merchant so there's kind of this big conversation going on right now in the

327
00:19:49,604 --> 00:19:56,704
bitcoin community of how to best display the fractions of bitcoin so sats has obviously

328
00:19:56,704 --> 00:20:03,684
been around in the space for a while um but do you think it's important how we display the

329
00:20:03,684 --> 00:20:08,764
quantities calling it sats or just calling it bitcoin does that help the brand recognition

330
00:20:08,764 --> 00:20:18,024
i i think calling it bitcoin i like the stats the stats to me is like change it's like

331
00:20:18,024 --> 00:20:25,204
nickels orders dimes pennies 50 cent pieces so just the display so just split yeah oh you mean

332
00:20:25,204 --> 00:20:30,344
on the on the screen on the screen versus saying sats if it's just like the bitcoin the b yeah you

333
00:20:30,344 --> 00:20:37,584
know i i sometimes will switch my own the way i view it because i'd rather see how much bitcoin i

334
00:20:37,584 --> 00:20:43,704
have versus dollars you know so i think it's a psychology thing um but i think that being paid

335
00:20:43,704 --> 00:20:50,164
in satoshi or like viewing it as satoshi's might be better because it looks i think like more

336
00:20:50,164 --> 00:20:59,004
understandable versus like a cup of coffee is like 0.00001 bitcoin you know it's however many

337
00:20:59,004 --> 00:21:03,524
stats a thousand stats or whatever for a cup of coffee i think that makes more sense more sense

338
00:21:03,524 --> 00:21:09,824
than like the yeah that long that's the psychology of people looking at understanding it do you think

339
00:21:09,824 --> 00:21:15,344
people get confused on what a sat is yes who haven't who have no understanding of bitcoin yes

340
00:21:15,344 --> 00:21:33,204
Yes. Because I think even Bitcoiners get confused because they are so used to Bitcoin. Like they want to be whole coiners and they want to just DCA into Bitcoin. You rarely hear about people like, oh, I'm DCA into stats. That's going to happen, but you don't hear about it as much.

341
00:21:33,204 --> 00:21:41,504
you know good feedback good feedback um okay we're already getting through this i wish i had

342
00:21:41,504 --> 00:21:49,824
more time um so last question i guess kind of where do you see both pink owl coffee and also

343
00:21:49,824 --> 00:21:58,264
bitcoin you know in the maybe like five-year horizon yeah so um we're going to continue to

344
00:21:58,264 --> 00:22:00,504
build our small Bitcoin

345
00:22:00,504 --> 00:22:02,984
treasury pink owl company.

346
00:22:03,644 --> 00:22:04,824
And hopefully with that,

347
00:22:04,944 --> 00:22:06,864
it will open up a lot of

348
00:22:06,864 --> 00:22:08,504
doors for us to

349
00:22:08,504 --> 00:22:10,384
expand our business

350
00:22:10,384 --> 00:22:11,864
and

351
00:22:11,864 --> 00:22:14,124
have more locations,

352
00:22:14,964 --> 00:22:16,524
more wholesale,

353
00:22:16,724 --> 00:22:18,904
more coffee clubs, more of everything

354
00:22:18,904 --> 00:22:20,284
and

355
00:22:20,284 --> 00:22:22,664
just continue to

356
00:22:22,664 --> 00:22:24,764
grow. That's what we

357
00:22:24,764 --> 00:22:25,464
hope for.

358
00:22:26,344 --> 00:22:27,584
We'll see what happens.

359
00:22:27,584 --> 00:22:30,084
but we're strong Bitcoin believers,

360
00:22:30,324 --> 00:22:31,964
so that's not going to change.

361
00:22:32,464 --> 00:22:33,344
I love to see it,

362
00:22:33,444 --> 00:22:36,144
and I love to see it that it's from San Rafael.

363
00:22:36,624 --> 00:22:36,944
Yes.

364
00:22:37,224 --> 00:22:38,064
That's the best.

365
00:22:38,184 --> 00:22:41,624
We need to get more Marin companies accepting Bitcoin,

366
00:22:41,924 --> 00:22:44,264
and we want to get Presidio companies.

367
00:22:44,604 --> 00:22:45,724
I mean, they should,

368
00:22:45,844 --> 00:22:47,364
because we have all these Bitcoiners.

369
00:22:47,424 --> 00:22:49,224
They're ready to go spend.

370
00:22:49,424 --> 00:22:50,824
There's a lot in Marin, too,

371
00:22:50,924 --> 00:22:52,984
and that's why we're hosting our very first,

372
00:22:53,344 --> 00:22:54,004
or in the process,

373
00:22:54,104 --> 00:22:55,704
there's already like the North Bay,

374
00:22:56,464 --> 00:22:57,364
but everyone's like,

375
00:22:57,364 --> 00:23:03,824
You get to start your own or whatever, but I mean, it will help our business because we can people always ask us when we've done them at our cafe before.

376
00:23:04,184 --> 00:23:05,624
Do you accept Bitcoin's payment?

377
00:23:05,624 --> 00:23:10,084
And we didn't in the past, but now all the Bitcoiners are a little group of 10, 15 people.

378
00:23:10,244 --> 00:23:12,804
They'll all pay in Bitcoin and then that kind of spreads the word.

379
00:23:12,884 --> 00:23:17,144
And then a lot of times people like will come up to our group and they're going to be like, what are you guys doing?

380
00:23:17,404 --> 00:23:18,904
Like, we're Bitcoiners.

381
00:23:19,404 --> 00:23:20,104
Do you know about Bitcoin?

382
00:23:20,204 --> 00:23:21,604
We'll start talking to them about it and whatnot.

383
00:23:22,044 --> 00:23:23,164
So, yeah.

384
00:23:23,224 --> 00:23:23,484
Amazing.

385
00:23:23,484 --> 00:23:29,924
Okay. If our listeners want to follow you or Pink Owl, where should they go?

386
00:23:30,384 --> 00:23:35,544
TikTok, Pink Owl Coffee, Instagram, Pink Owl Coffee. They go to our website,

387
00:23:36,084 --> 00:23:39,704
PinkOwlCoffee.com. You'll find us there.

388
00:23:39,984 --> 00:23:46,284
TikTok. You are the first person on the show that has said TikTok. And I love it.

389
00:23:46,524 --> 00:23:46,704
Yeah.

390
00:23:46,884 --> 00:23:51,464
That is, we're getting more Bitcoin content on TikTok. It's like, that's how we reach

391
00:23:51,464 --> 00:23:52,344
the masses.

392
00:23:52,664 --> 00:23:52,844
Yep.

393
00:23:53,064 --> 00:23:53,604
You have to use

394
00:23:53,604 --> 00:23:54,264
all the platforms.

395
00:23:54,324 --> 00:23:54,744
You have to use

396
00:23:54,744 --> 00:23:55,104
all the platforms.

397
00:23:55,104 --> 00:23:55,704
They're all different.

398
00:23:56,224 --> 00:23:56,664
Yes.

399
00:23:57,604 --> 00:23:58,744
Well, thank you so much

400
00:23:58,744 --> 00:24:00,004
for coming on the podcast

401
00:24:00,004 --> 00:24:01,844
and you'll be speaking later

402
00:24:01,844 --> 00:24:03,284
at our Builder event

403
00:24:03,284 --> 00:24:04,284
if any listeners

404
00:24:04,284 --> 00:24:05,604
want to come by.

405
00:24:05,684 --> 00:24:06,364
Presidio Bitcoin.

406
00:24:06,644 --> 00:24:07,304
We have meetups

407
00:24:07,304 --> 00:24:08,204
pretty much every Thursday

408
00:24:08,204 --> 00:24:09,884
and Builder every month.

409
00:24:10,224 --> 00:24:10,544
Awesome.

410
00:24:10,924 --> 00:24:11,244
Thank you.

411
00:24:11,244 --> 00:24:12,084
Thank you so much.

412
00:24:12,124 --> 00:24:12,464
Yes.

413
00:24:12,804 --> 00:24:13,744
I was super excited

414
00:24:13,744 --> 00:24:14,164
to be here.

415
00:24:14,384 --> 00:24:14,944
Yes, me too.

416
00:24:15,064 --> 00:24:15,244
Okay.

417
00:24:15,464 --> 00:24:15,904
Thank you.

418
00:24:16,044 --> 00:24:16,244
All right.

419
00:24:16,344 --> 00:24:16,464
Bye.
