1 00:00:00,000 --> 00:00:07,460 People say Bitcoin is hope. I mean, it really is because it gives them something. It gives them a way to opt out. 2 00:00:08,740 --> 00:00:15,960 And, you know, that's like that's the option I took, you know, back in the day as well when I realized, you know, how broken things were during COVID. 3 00:00:16,020 --> 00:00:20,980 I was like, you know what? I'm out. I'm you're not freezing my bank account. You're not taking my assets. 4 00:00:21,160 --> 00:00:25,440 You are going to come physically to my house to enforce your will on me. 5 00:00:25,480 --> 00:00:28,420 You're not going to look. I will not be at the whim of like a button pusher. 6 00:00:28,420 --> 00:00:28,900 Yeah. 7 00:00:29,300 --> 00:00:36,760 And, you know, this gives these people, these kids, these adults, an option and an opt-out for them, essentially, that they're able to do. 8 00:00:36,840 --> 00:00:39,240 Like, you know what? I'm going to go in this path. 9 00:00:40,040 --> 00:00:42,140 Bitcoin is a currency on the internet. 10 00:00:42,520 --> 00:00:45,180 If you don't trust any other currency, this is where you go. 11 00:00:45,400 --> 00:00:46,420 It's going to outperform everything. 12 00:00:46,620 --> 00:00:48,080 Bitcoin can eventually be worthless. 13 00:00:48,300 --> 00:00:49,980 Every day is a good day to buy Bitcoin. 14 00:00:50,540 --> 00:00:52,500 Bitcoin reached its highest price to date. 15 00:00:52,660 --> 00:00:54,140 Bitcoin hitting a new high. 16 00:00:54,240 --> 00:00:55,980 It really has reached escape velocity. 17 00:00:55,980 --> 00:00:58,420 Who cares about Bitcoin? 18 00:00:58,520 --> 00:01:00,800 It's the only secure database that's ever been invented. 19 00:01:01,400 --> 00:01:01,840 Antisocial. 20 00:01:02,100 --> 00:01:03,680 Bitcoin is the real deal. 21 00:01:03,880 --> 00:01:04,280 Stupid. 22 00:01:04,640 --> 00:01:06,560 Everything is bullish for Bitcoin. 23 00:01:06,800 --> 00:01:07,240 Immoral. 24 00:01:07,500 --> 00:01:08,900 It's going up forever, Laura. 25 00:01:09,400 --> 00:01:10,280 Fix the money. 26 00:01:10,860 --> 00:01:11,640 Fix the world. 27 00:01:14,380 --> 00:01:16,880 White Rock is a registered investment advisor, and the opinions expressed on the show are 28 00:01:16,880 --> 00:01:18,500 their own and do not reflect the opinions of the Silk LLC. 29 00:01:18,720 --> 00:01:20,940 Joining us as a CPA, and the opinions expressed on the show are their own and do not reflect 30 00:01:20,940 --> 00:01:22,500 the opinions of trusted CPA or other affiliated firms. 31 00:01:22,800 --> 00:01:25,080 Information presented is for educational purposes only and does not intend to make an offer 32 00:01:25,080 --> 00:01:27,520 or solicitation for the sale or purchase of any specific securities, investments, or investment 33 00:01:27,520 --> 00:01:29,880 strategies. Investments involve risk and on what's otherwise stated or not guaranteed. Information 34 00:01:29,880 --> 00:01:32,480 expressed is not taken into account your specific situation or objectives is not intended as a 35 00:01:32,480 --> 00:01:34,540 recommendation appropriate for any individual. Listeners are encouraged to seek advice from a 36 00:01:34,540 --> 00:01:36,900 qualified tax legal or investment advisor to determine whether any information presented may 37 00:01:36,900 --> 00:01:39,080 be suitable for their specific situation. Past performance is not indicative of future 38 00:01:39,080 --> 00:01:40,860 performance. Any statements or opinions are subject to change without notice. 39 00:01:44,040 --> 00:01:48,760 Welcome to the Bitcoin for Financial Services podcast, the podcast where sound money meets 40 00:01:48,760 --> 00:01:53,320 professional services. On this show, we explore how to build the financial services industry 41 00:01:53,320 --> 00:01:58,520 within the principles, ethos, and values of Bitcoin. Today, we are joined by Wesley Schlemmer. 42 00:01:58,980 --> 00:02:03,320 Wesley is the president of the Bitcoin Bay Foundation and executive director of the Florida 43 00:02:03,320 --> 00:02:07,700 Blockchain Business Association. He has been on the front lines of Bitcoin education, 44 00:02:08,040 --> 00:02:12,280 community building, and business adoption across Florida, helping business owners, 45 00:02:12,480 --> 00:02:17,100 students, and policymakers understand Bitcoin in practical, real-world terms. 46 00:02:18,120 --> 00:02:22,140 In this episode, we talk about Bitcoin for businesses, custody trade-offs, 47 00:02:22,140 --> 00:02:29,160 Square's Bitcoin rollout, self-custody versus custodial models, and why local in-person Bitcoin communities matter more than ever. 48 00:02:29,960 --> 00:02:31,020 All right, let's get started. 49 00:02:34,980 --> 00:02:41,560 All righty, welcome back. We are on episode four of the Bitcoin for Financial Services podcast. 50 00:02:41,980 --> 00:02:49,380 Today, we've got a special treat. We've got Wesley Schlemmer from the Bitcoin Bay Foundation, among other things. 51 00:02:49,380 --> 00:02:52,480 But I guess that's your main thing. 52 00:02:53,320 --> 00:03:03,300 And I wanted to bring Wesley on because he just hosted a really cool event down in Tampa where he's based out of this past weekend. 53 00:03:03,940 --> 00:03:06,600 It was a Bitcoin for Business workshop. 54 00:03:07,160 --> 00:03:09,100 And gave a really great presentation. 55 00:03:09,400 --> 00:03:16,320 And I thought, man, I know you guys recorded the event and you're going to get it out, I'm sure, at some point for people to watch. 56 00:03:16,320 --> 00:03:19,540 but I wanted to make sure that we kind of talked through some of the content that you shared with 57 00:03:19,540 --> 00:03:25,400 that audience. I think it'd be extremely helpful for our audience. So maybe Wes, give us your 58 00:03:25,400 --> 00:03:30,740 background. How'd you get into Bitcoin? And what do you do on a daily basis right now in Bitcoin 59 00:03:30,740 --> 00:03:35,760 world? Yeah. So, you know, I appreciate you having me on and for joining us, you know, for that 60 00:03:35,760 --> 00:03:40,140 event. I know it's a hard sell to get out of the snow and into the sun, but, you know, we still 61 00:03:40,140 --> 00:03:46,100 appreciate nonetheless. Yeah. So, you know, I'm a born and raised, you know, Florida man. I went 62 00:03:46,100 --> 00:03:51,240 to school for chemical and biological engineering. I worked in biotech for a couple of years and did 63 00:03:51,240 --> 00:03:58,400 some materials engineering for a while. I found Bitcoin in school during, during college. 64 00:03:59,840 --> 00:04:03,440 Unfortunately, not high school, otherwise I'll be able to afford it more. But, you know, 65 00:04:03,440 --> 00:04:09,520 it was just when I was investing and, you know, just doing my DCAs into whatever I could at the 66 00:04:09,520 --> 00:04:14,540 time, you know, just kind of building, building the stack early and often. Um, I found Bitcoin, 67 00:04:14,900 --> 00:04:20,060 uh, it was, it was right after the block size wars. I remember cause I was upset. I missed my 68 00:04:20,060 --> 00:04:25,080 airdrop or, you know, like, you know, once the, the, the chain forked, I was like, Oh, 69 00:04:25,080 --> 00:04:29,160 I could have gotten free, free Bitcoin cash. That's great. So, I mean, back on Coinbase, 70 00:04:29,160 --> 00:04:33,500 I think it had Bitcoin, Bitcoin cash, Litecoin, Ethereum were the only things you could get on 71 00:04:33,500 --> 00:04:39,140 Coinbase. So I just, I just grabbed all four, you know, this wasn't like a ideological thing 72 00:04:39,140 --> 00:04:44,360 for me at the time. This was just another thing to invest in. Fast forward a couple of years into 73 00:04:44,360 --> 00:04:48,400 COVID, you know, we're shut down, nothing really to do. I'm day trading, you know, GameStop, 74 00:04:48,600 --> 00:04:54,220 that thing's going crazy. You know, making good money there. I'm trading like all the different 75 00:04:54,220 --> 00:04:59,520 coins. I was really into privacy coins at the time and you couldn't lose money if you just 76 00:04:59,520 --> 00:05:04,280 bought and hold for a couple months. Things would pop off and you would just, you know, 77 00:05:04,280 --> 00:05:05,580 you just harvest. 78 00:05:07,220 --> 00:05:09,660 But when the Canadian truckers protest happened 79 00:05:09,660 --> 00:05:11,060 and bank accounts are being shut down 80 00:05:11,060 --> 00:05:12,480 and the only money these people are getting 81 00:05:12,480 --> 00:05:13,100 is in Bitcoin, 82 00:05:13,900 --> 00:05:14,920 whether or not that whole distribution 83 00:05:14,920 --> 00:05:16,120 was handled well 84 00:05:16,120 --> 00:05:17,720 or these people were even educated enough 85 00:05:17,720 --> 00:05:18,680 to know what they're doing with it 86 00:05:18,680 --> 00:05:19,360 is a whole different story. 87 00:05:19,420 --> 00:05:21,340 But the only money they got was Bitcoin 88 00:05:21,340 --> 00:05:21,940 at the end of the day. 89 00:05:22,440 --> 00:05:23,240 That's when I realized 90 00:05:23,240 --> 00:05:25,140 this wasn't going to be like this peaceful 91 00:05:25,140 --> 00:05:26,220 kind of like, 92 00:05:26,580 --> 00:05:27,860 oh, there's the crypto world 93 00:05:27,860 --> 00:05:29,720 and we're going to have all these alts 94 00:05:29,720 --> 00:05:31,180 and all these coins doing their things 95 00:05:31,180 --> 00:05:32,560 and everyone's going to be allowed to compete 96 00:05:32,560 --> 00:05:33,920 and free market. 97 00:05:34,280 --> 00:05:37,380 I was like, okay, this is a financial war that we're in. 98 00:05:38,080 --> 00:05:42,000 And Bitcoin is the one that actually can stand to that. 99 00:05:42,120 --> 00:05:45,180 And so that's when I went all in on Bitcoin. 100 00:05:45,640 --> 00:05:48,100 I took all of the coins I'd made. 101 00:05:48,160 --> 00:05:50,080 I made a couple of Bitcoin at the time. 102 00:05:50,760 --> 00:05:56,640 And I dumped it all into Bitcoin at the top of the market and just rode that down. 103 00:05:57,640 --> 00:05:58,080 That's your deal. 104 00:05:58,080 --> 00:05:58,540 Yeah. 105 00:05:59,480 --> 00:06:02,760 So that's why you don't YOLO. 106 00:06:02,760 --> 00:06:05,600 when the froth is at all-time highs, 107 00:06:05,640 --> 00:06:06,360 but I didn't know what I was doing. 108 00:06:08,060 --> 00:06:09,180 But that's how I ended up meeting 109 00:06:09,180 --> 00:06:10,980 the Tampa Bay Bitcoin community 110 00:06:10,980 --> 00:06:11,840 was through mining 111 00:06:11,840 --> 00:06:14,960 because I was building my own mine at the time 112 00:06:14,960 --> 00:06:16,160 and I was in the telegrams 113 00:06:16,160 --> 00:06:17,020 and one guy was like, 114 00:06:17,060 --> 00:06:18,300 hey, I think we're in the same area 115 00:06:18,300 --> 00:06:19,540 with the same electricity prices. 116 00:06:19,940 --> 00:06:21,500 So we connected and he's like, 117 00:06:21,540 --> 00:06:22,900 well, there's this meetup I'm going to. 118 00:06:23,540 --> 00:06:24,860 So I went to that 119 00:06:24,860 --> 00:06:28,280 and met one of our original founders 120 00:06:28,280 --> 00:06:29,240 who was running BitDevs. 121 00:06:30,140 --> 00:06:32,580 And this was back when things were pumping like crazy 122 00:06:32,580 --> 00:06:35,420 and inflation was ripping, gas was up four or five bucks a gallon. 123 00:06:35,560 --> 00:06:39,180 So there were 60 people at BitDevs, not because they were developers, 124 00:06:39,320 --> 00:06:41,920 but because they were looking Bitcoin near me and going to it 125 00:06:41,920 --> 00:06:43,220 and being like, what the heck is going on here? 126 00:06:43,840 --> 00:06:46,480 So that's kind of where the seeds of Bitcoin Bay started. 127 00:06:47,000 --> 00:06:49,840 You know, we realized that there's a lot of groundwork on 101 128 00:06:49,840 --> 00:06:50,600 that needs to be laid. 129 00:06:50,720 --> 00:06:52,780 So we started hosting wallet workshops. 130 00:06:52,920 --> 00:06:53,720 What even are wallets? 131 00:06:53,860 --> 00:06:54,560 What is Bitcoin? 132 00:06:54,680 --> 00:06:55,240 What is money? 133 00:06:55,300 --> 00:06:57,220 We started getting really basic with the stuff. 134 00:06:57,220 --> 00:07:01,060 And, you know, about a year later, we incorporated the foundation 135 00:07:01,060 --> 00:07:04,820 became the first Bitcoin meetup to incorporate as a nonprofit. 136 00:07:05,980 --> 00:07:07,920 Got our 5.1c3 stats a couple months later. 137 00:07:08,720 --> 00:07:12,100 And since then, we've helped consult about a dozen other groups 138 00:07:12,100 --> 00:07:14,040 across the country on getting set up as a nonprofit. 139 00:07:14,400 --> 00:07:17,760 We run three to five meetups a month 140 00:07:17,760 --> 00:07:19,920 between Tampa, St. Pete, and Sarasota. 141 00:07:21,940 --> 00:07:25,780 And now we've turned into the brain for Bitcoin in Tampa Bay Area. 142 00:07:26,780 --> 00:07:27,340 I love it, man. 143 00:07:27,340 --> 00:07:34,020 And honestly, Florida is kind of the hotbed for a lot of just Bitcoin activity, right? 144 00:07:34,380 --> 00:07:39,040 I guess if you had to dumb it down, it's like it's Tennessee, it's Texas and Florida, right? 145 00:07:39,100 --> 00:07:39,920 Would you agree with that? 146 00:07:40,640 --> 00:07:45,260 Yeah, Colorado is definitely catching up with the guys at the space over there. 147 00:07:45,340 --> 00:07:49,200 And I think you were out there, but I would say those are definitely the hotspots. 148 00:07:49,380 --> 00:07:49,860 That's true. 149 00:07:50,040 --> 00:07:52,380 If Y was on here, he'd be very upset with me. 150 00:07:52,380 --> 00:07:59,820 so tell me more i guess about how you're seeing things especially even like obviously politics 151 00:07:59,820 --> 00:08:06,400 change things you guys had de santis come in uh what was that five six years ago i can't remember 152 00:08:06,400 --> 00:08:11,840 the exact election he's probably getting close on this term right i believe it was 2019 2020 153 00:08:11,840 --> 00:08:19,120 okay he was a fresh governor when covet hit okay so i i guess it was 2020 maybe it was 2018 because 154 00:08:19,120 --> 00:08:25,040 he's going to be out in 2026 since eight years yeah so it's 2018 okay so you guys have been in 155 00:08:25,040 --> 00:08:32,040 this world of you know florida's been leading the way on kind of the bellwether of like hey the 156 00:08:32,040 --> 00:08:37,320 country's or at least florida's moving this direction politically and even the friendly 157 00:08:37,320 --> 00:08:44,260 nature towards bitcoin i think you all experienced that uh quite a while before the rest of the 158 00:08:44,260 --> 00:08:49,000 country got to experience it earlier this year, right? I guess, talk me through, did that make 159 00:08:49,000 --> 00:08:54,180 any real changes with having DeSantis at the top who was much more friendly to Bitcoin? Or 160 00:08:54,180 --> 00:08:58,100 has it not really changed too much on the ground from your perspective? 161 00:08:59,700 --> 00:09:05,720 Oh, yeah. I mean, it's been great not to have to run through walls to get things done. 162 00:09:05,720 --> 00:09:14,900 you know and it hasn't really been that he's like pro or friendly Bitcoin it the the stance has been 163 00:09:14,900 --> 00:09:23,820 no new crypto regulations so like where we would like to see you know like I also you know I also 164 00:09:23,820 --> 00:09:28,020 work as you know the executive director of the Florida Blockchain Business Association so that's 165 00:09:28,020 --> 00:09:32,320 the chamber of commerce that works with the politicians to educate them on local and state 166 00:09:32,320 --> 00:09:38,060 level on you know bitcoin matters and we got uh an anti-central bank digital currency bill 167 00:09:38,060 --> 00:09:44,860 passed through um but that was you know that was easy that was red meat you know those cbdcs were 168 00:09:44,860 --> 00:09:49,400 kind of getting in the news this was during the great reset era you know like this was kind of an 169 00:09:49,400 --> 00:09:55,080 easy win for desantis to be like nope we're not doing this here um and and but then afterwards it 170 00:09:55,080 --> 00:10:05,360 was no new regulations which i'm largely pro you know less regulations i'm large you know um 171 00:10:05,360 --> 00:10:12,960 but you know like when we're trying to get a a right a right to mine a right to self-custody 172 00:10:12,960 --> 00:10:19,000 you know like we're trying to like get proactive um you know enshrining your rights it's a little 173 00:10:19,000 --> 00:10:23,180 because it's a lot it's a lot harder to have to repeal a law and then pass a new one that isn't 174 00:10:23,180 --> 00:10:28,320 just pass one. You know, like if, you know, if we get a crappy governor legislator and they're like, 175 00:10:28,720 --> 00:10:32,800 it's actually illegal to do this here, it'd be a lot harder if you had to, you know, repeal the 176 00:10:32,800 --> 00:10:40,260 law that says you are explicitly allowed to do this here. So it's been, it's been good for, 177 00:10:40,500 --> 00:10:46,680 you know, the free market grassroots people to just go out and do what we want, which is really, 178 00:10:46,780 --> 00:10:49,880 it's just onboarding businesses and using Bitcoin as commerce. It's nothing crazy. 179 00:10:49,880 --> 00:10:57,420 but we would like to see more like the the state you like being like yes like bitcoin is you know 180 00:10:57,420 --> 00:11:02,720 maybe like we do a lot of sales tax holidays down here you know right now for all 2026 there's a 181 00:11:02,720 --> 00:11:08,440 sales tax holiday on guns and ammo um we would like to see like a sales tax holiday on bitcoin 182 00:11:08,440 --> 00:11:15,960 transactions um or you know we have uh there's a there's legislation coming down the pipe of 183 00:11:15,960 --> 00:11:18,680 a gold and silver estate depository institute. 184 00:11:18,840 --> 00:11:21,380 So we'd like to see Bitcoin in there 185 00:11:21,380 --> 00:11:24,940 because you're able to deposit your gold and silver, 186 00:11:25,060 --> 00:11:26,560 get a debit card, swipe against your balance 187 00:11:26,560 --> 00:11:27,720 at the state bank. 188 00:11:28,760 --> 00:11:30,000 We'd like to have Bitcoin in that. 189 00:11:30,060 --> 00:11:31,800 We'd like to have Bitcoin in the Florida 190 00:11:31,800 --> 00:11:33,420 Bitcoin Strategic Reserve. 191 00:11:33,700 --> 00:11:36,520 We'd like to have these proactive things going, 192 00:11:37,040 --> 00:11:38,560 but I will certainly take a government 193 00:11:38,560 --> 00:11:39,240 that's just saying, 194 00:11:39,360 --> 00:11:40,580 hey, we're going to keep our hands off here. 195 00:11:40,760 --> 00:11:43,300 As long as you don't hit these bars, 196 00:11:43,300 --> 00:11:49,200 you guys are able to free, you're free and clear to experiment and innovate and build in Florida. 197 00:11:49,300 --> 00:11:52,480 It's a very pro-business state. So that definitely has been good. 198 00:11:55,840 --> 00:12:01,300 Your wealth deserves intention. Basilic Financial is a Bitcoin-focused wealth management firm built 199 00:12:01,300 --> 00:12:05,620 to help our clients find balance between money and meaning. We integrate sound money strategies 200 00:12:05,620 --> 00:12:09,940 across four distinct personalized services, financial planning, individual wealth management, 201 00:12:09,940 --> 00:12:15,660 retirement services for SMBs and Bitcoin financial services. Your prosperity, your purpose, 202 00:12:16,020 --> 00:12:21,240 intentionally guided at Basilic Financial. Visit our website at basilic.io to schedule free 203 00:12:21,240 --> 00:12:27,280 consultation. All right. Well, I think for our audience, the best thing that we could do with 204 00:12:27,280 --> 00:12:33,020 our time today is really get a little bit in the weeds, but not too deep because I know you can go 205 00:12:33,020 --> 00:12:38,540 pretty deep. But I really enjoyed your presentation on talking about custody. We're in this really 206 00:12:38,540 --> 00:12:46,540 interesting moment in time where one of the largest point of sales companies just released 207 00:12:46,540 --> 00:13:04,068 Bitcoin support inside of their POS systems And so I think a lot of business owners are thinking hey maybe I turned this on I don exactly know what that means I think the default you can correct me if I wrong but the default is it kind of auto converts to dollars anyways 208 00:13:05,448 --> 00:13:15,968 But, you know, Bitcoiners, they kind of move in droves and they see people or businesses that are adopting their, you know, asset of choice for a good reason. 209 00:13:16,488 --> 00:13:23,008 And they're like, hey, I'm going to go actually do business with this business that I wouldn't have done, you know, gone to prior to. 210 00:13:23,008 --> 00:13:33,388 So maybe talk through your thoughts, a high level on how you think Square getting that rollout out, you know, how that changes the game. 211 00:13:33,568 --> 00:13:40,648 And then I'd love to kind of move the conversation to, okay, you're a business owner, you're an advisor to a business owner. 212 00:13:41,408 --> 00:13:47,748 Let's talk about custody, you know, and all the different, you know, trade-offs as you laid out in your presentation. 213 00:13:48,388 --> 00:13:50,428 So wherever you want to take that. 214 00:13:50,428 --> 00:13:51,108 Yeah. 215 00:13:51,108 --> 00:13:59,268 Yeah. So, you know, I guess we'll start with Square. So we use Square for our fiat processing. 216 00:14:00,048 --> 00:14:04,228 We love ZapRite, of course, in case Parker or Will or John's listening to this. 217 00:14:06,728 --> 00:14:13,988 And what Square turned on for all business owners today is, well, I mean, it's been a couple weeks 218 00:14:13,988 --> 00:14:17,928 now, but as a business owner right now, you are able to go into your banking tab on Square 219 00:14:17,928 --> 00:14:19,508 and click the Bitcoin button 220 00:14:19,508 --> 00:14:24,068 and you can set up accepting Bitcoin directly 221 00:14:24,068 --> 00:14:30,208 and auto converting your fiat digital purchases 222 00:14:30,208 --> 00:14:30,968 into Bitcoin. 223 00:14:31,808 --> 00:14:34,428 So you are able to, if you, like for example, 224 00:14:34,428 --> 00:14:35,728 we have monthly donors. 225 00:14:35,988 --> 00:14:38,568 It's very hard to do on an automated basis with Bitcoin. 226 00:14:38,828 --> 00:14:40,048 So they use their credit cards. 227 00:14:40,488 --> 00:14:43,208 We are able to set anywhere from zero to 50% 228 00:14:43,208 --> 00:14:45,828 from someone who's donating a hundred bucks a month to us, 229 00:14:46,068 --> 00:14:47,528 auto convert that at the end of the day into Bitcoin. 230 00:14:47,928 --> 00:14:53,608 All sales, you know, so if we sell tickets to our next charity gala on, you know, February 28th 231 00:14:54,168 --> 00:14:58,168 Someone's buying with a card and we have a donation come in and somebody's buying a seed signer 232 00:14:59,048 --> 00:15:06,008 All at the end of the day all of your digital transactions can get batched and converted into bitcoin from 0 to 50% 233 00:15:06,888 --> 00:15:09,128 Naturally, we're at 50% I do 100 if I could 234 00:15:09,768 --> 00:15:10,888 um 235 00:15:10,888 --> 00:15:16,328 But maybe maybe someone can talk to Jack and ask him to let me do that, but so you can do that today 236 00:15:16,328 --> 00:15:21,468 You don't have to have people paying you in Bitcoin to start accumulating Bitcoin as a business owner. 237 00:15:22,208 --> 00:15:25,588 Now, of course, we are a Bitcoin-based company. 238 00:15:25,708 --> 00:15:26,668 We offer Bitcoin standard. 239 00:15:26,948 --> 00:15:30,628 We pay our employees or our interns and stuff. 240 00:15:30,688 --> 00:15:31,728 We pay them in Bitcoin. 241 00:15:31,868 --> 00:15:35,888 You get a million sats a month or whatever it is, and that's your rate. 242 00:15:36,308 --> 00:15:37,748 So we love having a Bitcoin treasury. 243 00:15:38,808 --> 00:15:45,448 If you are a business owner of fiat denominated terms, you might only want to be at the 5%, 10% conversion. 244 00:15:45,448 --> 00:15:46,468 You know, like what's your margin? 245 00:15:46,628 --> 00:15:50,268 What's your free cash flow that you're going to be sitting and parking in the bank? 246 00:15:51,328 --> 00:15:56,928 Maybe you're putting in a CD or something that you're waiting until you need that to make an expansion. 247 00:15:58,708 --> 00:16:01,828 Park 5%, 10%, 20%, you know, it depends on how much of Bitcoin you are. 248 00:16:01,888 --> 00:16:05,428 You can start auto converting and parking some of that free cash flow into Bitcoin. 249 00:16:06,548 --> 00:16:07,688 Seamless, no hassle. 250 00:16:08,128 --> 00:16:09,848 And you can sell it right back into Square. 251 00:16:10,368 --> 00:16:12,028 You know, we love peer-to-peer sales. 252 00:16:12,028 --> 00:16:15,528 Square, I'm sure, makes it a little bit easier to track your cost basis and all of that. 253 00:16:16,528 --> 00:16:18,588 And you can withdraw that Bitcoin at any time. 254 00:16:19,008 --> 00:16:20,128 So it's great. 255 00:16:20,288 --> 00:16:21,548 We have a river account. 256 00:16:21,628 --> 00:16:25,928 We have a multi-sig, which we can kind of step into once we get off the Square topic. 257 00:16:26,568 --> 00:16:28,728 And then we self-custody as much as possible. 258 00:16:29,728 --> 00:16:31,808 Now, you also can accept Bitcoin directly. 259 00:16:32,028 --> 00:16:38,308 If you turn the Bitcoin option on, a customer goes to your portal, your point of sale at 260 00:16:38,308 --> 00:16:40,028 your food truck, wherever. 261 00:16:40,868 --> 00:16:44,628 And, you know, how do you want to pay cash app, card, Bitcoin? 262 00:16:45,308 --> 00:16:45,868 It's right there. 263 00:16:46,528 --> 00:16:47,588 So it's great. 264 00:16:47,708 --> 00:16:50,368 Four million merchants now have the ability to accept Bitcoin. 265 00:16:51,568 --> 00:16:56,488 Now, if you have multi locations, like there's a coffee shop down here called Blind Tiger, 266 00:16:56,848 --> 00:16:58,848 where the owner is a Bitcoiner and turned it on. 267 00:16:59,468 --> 00:17:06,048 The managers don't know it's on or that, you know, so make sure you tell your employees 268 00:17:06,048 --> 00:17:06,828 that it's on 269 00:17:06,828 --> 00:17:07,848 because when the Bitcoiners 270 00:17:07,848 --> 00:17:08,488 show up 271 00:17:08,488 --> 00:17:08,928 because they will. 272 00:17:10,068 --> 00:17:10,268 Yeah. 273 00:17:10,628 --> 00:17:10,888 You know, 274 00:17:11,028 --> 00:17:12,308 and find your local meetup. 275 00:17:12,508 --> 00:17:12,628 You know, 276 00:17:12,708 --> 00:17:12,788 like, 277 00:17:13,128 --> 00:17:13,808 hey guys, 278 00:17:13,828 --> 00:17:14,468 I'm a business owner. 279 00:17:14,628 --> 00:17:15,628 I see this thing on my Square. 280 00:17:15,888 --> 00:17:16,508 Help me out. 281 00:17:17,008 --> 00:17:17,768 Bitcoiners will help you. 282 00:17:18,808 --> 00:17:19,908 And Bitcoiners will show up 283 00:17:19,908 --> 00:17:20,388 at your door 284 00:17:20,388 --> 00:17:20,888 being like, 285 00:17:20,948 --> 00:17:21,508 why don't you take Bitcoin? 286 00:17:22,448 --> 00:17:23,228 And actually, 287 00:17:23,408 --> 00:17:24,228 I have them right here 288 00:17:24,228 --> 00:17:24,788 conveniently enough. 289 00:17:25,308 --> 00:17:25,628 If, 290 00:17:25,908 --> 00:17:26,088 you know, 291 00:17:26,128 --> 00:17:26,888 you do use Square, 292 00:17:27,028 --> 00:17:27,708 they will send you 293 00:17:27,708 --> 00:17:28,528 these little things 294 00:17:28,528 --> 00:17:29,108 that have 295 00:17:29,108 --> 00:17:30,508 pay with, 296 00:17:30,628 --> 00:17:30,828 I mean, 297 00:17:30,848 --> 00:17:31,628 I guess it's inverted, 298 00:17:31,808 --> 00:17:32,828 but it says pay with Bitcoin. 299 00:17:32,928 --> 00:17:33,328 It adds, 300 00:17:33,468 --> 00:17:33,708 you know, 301 00:17:33,788 --> 00:17:35,048 it adds the little B down there. 302 00:17:35,048 --> 00:17:39,408 it comes with stickers i don't have the stickers handy you can put on your door it says square 303 00:17:39,408 --> 00:17:45,968 accepted here and it says cash app you know amex diners club bitcoin so it's just right there with 304 00:17:45,968 --> 00:17:52,308 your stickers and your stuff already and square will send these to you for free um i think that's 305 00:17:52,308 --> 00:17:56,828 all i think that's all squares do we want to yeah yeah any no i think it was just funny when we're 306 00:17:56,828 --> 00:18:02,228 i think when jason keel and i were leaving it was just this moment of like just take a step back 307 00:18:02,228 --> 00:18:09,568 right like it's crazy that that is rolling out to that many merchants and then it really i think 308 00:18:09,568 --> 00:18:17,108 fast tracks how how quickly um businesses and their consumers can interact together via bitcoin 309 00:18:17,108 --> 00:18:22,988 so all i'd say it's a really cool deal and to wesley's point if you have questions on it 310 00:18:22,988 --> 00:18:28,008 it's like when you go to the gym and you're new to the gym right you go around and you ask some 311 00:18:28,008 --> 00:18:32,568 people most everyone's very nice uh bitcoiners are the same way they're going to show you the way 312 00:18:32,568 --> 00:18:38,868 um i would say you know try to stick with just bitcoiners because otherwise you get a little 313 00:18:38,868 --> 00:18:43,748 you know you don't know who you're dealing with but i i can vouch for probably 95 of all the 314 00:18:43,748 --> 00:18:48,628 bitcoiners i've met as like just extremely upstanding people happy to jump in and some 315 00:18:48,628 --> 00:18:53,688 people you know some do it for free some charge a fee and obviously those both of those models work 316 00:18:53,688 --> 00:18:58,568 well. So yeah. And if you have questions, obviously you can reach out to Wesley, reach out to myself. 317 00:18:58,888 --> 00:19:03,528 So, all right, let's get into, okay, say a business owner says, Hey, I've seen what Steak 318 00:19:03,528 --> 00:19:10,568 and Shake has done. I want to either add this to my treasury, sweep profits into it, or I want to 319 00:19:10,568 --> 00:19:15,968 turn this on inside of my SquarePoS or get set up a ZapRite or BTC pay server. Like I'm going to go 320 00:19:15,968 --> 00:19:21,508 down the rabbit hole and they're collecting, they've got Bitcoin. Either they earned it or 321 00:19:21,508 --> 00:19:28,208 they bought it. Now what? Well, now you need to decide how much control do you want over your 322 00:19:28,208 --> 00:19:33,368 finances? You know, there's a bit, Bitcoiners have a lot of little kind of glib sayings, 323 00:19:33,468 --> 00:19:38,948 be your own bank, not your keys, not your coins. Um, and those, those make for great bumper stickers, 324 00:19:38,948 --> 00:19:43,168 but whenever you kind of actually, you know, bump up against those in real life, like, okay, 325 00:19:43,168 --> 00:19:50,248 what does being my own bank mean? Uh, that's great. I have Bitcoin on my phone because my, 326 00:19:50,248 --> 00:19:55,788 you know, nephew sent it to me, you know, four Christmases ago. And now he's asking me about it. 327 00:19:56,288 --> 00:19:59,068 You know, he's like, Oh, hey, did you check it out? You checked it out recently? Look how much 328 00:19:59,068 --> 00:20:05,448 Bitcoin you have. And you pull it up. And you open the app. And you're like, Oh, it says create 329 00:20:05,448 --> 00:20:08,988 new wallet. And you're like, Oh, well, I traded my phone in two years ago. Like, I don't know. 330 00:20:08,988 --> 00:20:12,308 What do you mean? It's not here anymore. He's like, Well, you trade your wallet, you traded your 331 00:20:12,308 --> 00:20:16,788 leather wallet with your cash into the store, didn't take the cash out. You know, so that like 332 00:20:16,788 --> 00:20:17,868 But that's what this means. 333 00:20:18,668 --> 00:20:27,248 If you are in control of your keys, if you are your own bank, that is a responsibility that largely we as a society are not used to having. 334 00:20:29,588 --> 00:20:34,048 So, you know, there's a full spectrum of ways to store your coin. 335 00:20:34,388 --> 00:20:38,448 And, you know, I use that story because something similar has happened to me several times. 336 00:20:38,448 --> 00:20:41,548 I've put people on Bitcoin on Moonwater or whatever, and they go to get it back. 337 00:20:41,608 --> 00:20:42,728 And they go, oh, I turn my phone in. 338 00:20:42,768 --> 00:20:44,548 I'm like, did you back it up? 339 00:20:44,628 --> 00:20:45,308 Like, no. 340 00:20:45,588 --> 00:20:46,468 That just happened to me. 341 00:20:46,468 --> 00:20:51,868 Literally a dinner on Saturday night, uh, or not Saturday night, sorry, middle of this 342 00:20:51,868 --> 00:20:53,008 week felt like a weekend. 343 00:20:53,108 --> 00:20:53,628 It was in Nashville. 344 00:20:53,768 --> 00:20:56,628 The old friend of mine paid him in Bitcoin to drive me. 345 00:20:56,688 --> 00:21:01,368 My truck had a flat tire, like maybe a year and a half ago, drove me from Lexington to 346 00:21:01,368 --> 00:21:01,708 Louisville. 347 00:21:02,048 --> 00:21:03,948 I paid him in Bitcoin to do it. 348 00:21:04,548 --> 00:21:05,868 And he did the exact same thing. 349 00:21:06,008 --> 00:21:07,108 Went and got the new iPhone. 350 00:21:07,648 --> 00:21:09,708 And I was like, dude, cause we had checked it. 351 00:21:09,768 --> 00:21:13,128 The a hundred bucks I sent him at the time had gone, you know, all the way up to like 352 00:21:13,128 --> 00:21:13,748 200 bucks. 353 00:21:13,748 --> 00:21:20,128 and anyways so i'm glad you point that and you pointed that out in your presentations like you 354 00:21:20,128 --> 00:21:26,388 really have to take responsibility or no one is coming to hold your i mean people around you can 355 00:21:26,388 --> 00:21:31,768 hold your hand to help you at the beginning but you need to start changing how you think about 356 00:21:31,768 --> 00:21:37,468 the world just generally and and say i'm going to take responsibility for everything in my life and 357 00:21:37,468 --> 00:21:43,728 money is a big part of that right yeah and you like i totally need to think of this as cash and 358 00:21:43,728 --> 00:21:48,948 your wallet. If you take your wallet out of your pocket and you throw it away or you leave it in 359 00:21:48,948 --> 00:21:54,428 the taxi or you forget it on the airplane, it's gone. You know, like there's no, I forgot my 360 00:21:54,428 --> 00:22:02,608 password for that. And luckily with Bitcoin, there is in a way. So, you know, I'm sitting there on 361 00:22:02,608 --> 00:22:06,888 the couch talking to my sister. We're asking what our plans are. I'm looking at my calendar, 362 00:22:06,968 --> 00:22:12,008 my phone bricked in my hand. It just died. Motherboard died, took it to a, you know, 363 00:22:12,008 --> 00:22:17,248 one of the data extraction places. They're like, sorry, dude. I had just purchased for my parents, 364 00:22:17,488 --> 00:22:22,808 like a solid chunk of coin from someone in my community, but I went from there to their house 365 00:22:22,808 --> 00:22:27,828 for Easter and I hadn't had a chance to offload the coin onto my cold storage. So I'm sitting 366 00:22:27,828 --> 00:22:31,808 there like sweating and I'm like, you know what? It's fine. You know, I have everything written 367 00:22:31,808 --> 00:22:38,228 down. I go home, I get my book out with my back, with my backup phrase, with my seed phrase. 368 00:22:38,228 --> 00:22:46,008 I get a new wallet. I put the phrase in. There's the coin. So you will not lose your Bitcoin 369 00:22:46,008 --> 00:22:53,468 if you back it up properly. And that's the most important thing that people need to understand 370 00:22:53,468 --> 00:22:57,888 is that the stakes are high whenever you are taking custody of your coin. 371 00:22:57,888 --> 00:23:05,668 It is like, there is no, when you are your own bank, like there's nobody to go talk to if you 372 00:23:05,668 --> 00:23:12,328 need help if you're doing full self-custody. Now, I guess we'll kind of get onto the custody models 373 00:23:12,328 --> 00:23:17,248 as opposed to, you know, lecturing about the dangers of it because it always does scare people. 374 00:23:17,948 --> 00:23:22,888 It shouldn't scare you any more than driving on the highway should scare you. You have full 375 00:23:22,888 --> 00:23:26,808 responsibility for your actions in that car, 80 miles an hour on the highway with everyone around 376 00:23:26,808 --> 00:23:35,748 do you do it every day so you can start with the wallet on your phone you know 377 00:23:35,748 --> 00:23:43,008 lightning this is this is the cash in your pocket you move to your desktop 378 00:23:43,008 --> 00:23:47,568 your single signature that's your checking account you move down a layer 379 00:23:47,568 --> 00:23:52,168 you do your multi signature cold storage that's your savings as maybe your 380 00:23:52,168 --> 00:23:56,388 retirement account and for those who don't know you have hot and you have 381 00:23:56,388 --> 00:23:58,388 cold storage. 382 00:23:58,388 --> 00:24:02,128 Connected to the internet, not connected to the internet. 383 00:24:02,128 --> 00:24:06,628 Never type your seed phrase into a computer. 384 00:24:06,628 --> 00:24:08,328 Never screenshot it. 385 00:24:08,328 --> 00:24:10,448 Never put it in a Google Doc. 386 00:24:10,448 --> 00:24:12,328 Never email it to somebody. 387 00:24:12,328 --> 00:24:14,848 Never tell it to somebody over the phone. 388 00:24:14,848 --> 00:24:17,148 If anybody's calling you asking for your seed phrase, 389 00:24:17,148 --> 00:24:18,748 they are trying to scam you. 390 00:24:18,748 --> 00:24:21,148 Coinbase will never call you. 391 00:24:21,148 --> 00:24:22,448 Kraken will never call you. 392 00:24:22,448 --> 00:24:24,488 They will never send you a letter. 393 00:24:24,488 --> 00:24:27,228 They will never do anything like that. 394 00:24:28,988 --> 00:24:30,528 You have your own keys. 395 00:24:30,648 --> 00:24:32,968 If anyone has those keys, they have access to your coin. 396 00:24:35,148 --> 00:24:39,208 That's where things like multi-signature custody comes in. 397 00:24:39,368 --> 00:24:43,868 So if you're nuclear football, you need two keys to make the thing happen at the same time. 398 00:24:44,228 --> 00:24:46,088 You've got to turn those two keys to open the case. 399 00:24:46,608 --> 00:24:49,328 So that's good if you are maybe a medium-sized business. 400 00:24:49,328 --> 00:24:56,948 you have a board, your CEO, CFO, bookkeeper, vice president, whomever. That's where you don't, 401 00:24:57,048 --> 00:25:02,588 that's where you have a situation where one person can't unilaterally send the funds. 402 00:25:02,968 --> 00:25:07,508 You need to come together to send money around. That's what we do. We have a board of free people. 403 00:25:07,748 --> 00:25:11,328 We have our, I'm the president, we have the vice president, we have the treasurer. 404 00:25:12,248 --> 00:25:17,688 We all have one key. If any, if we need anything more than it's in our square account 405 00:25:17,688 --> 00:25:19,108 that I have access to. 406 00:25:19,188 --> 00:25:20,568 And if it's under a thousand bucks, 407 00:25:20,628 --> 00:25:23,128 I can just spend and do things. 408 00:25:23,168 --> 00:25:24,408 I don't have to get board approval for everything. 409 00:25:24,748 --> 00:25:28,268 But if we need to go and dig out of our reserves, 410 00:25:28,348 --> 00:25:30,368 two of us have to come together to send that money. 411 00:25:31,568 --> 00:25:34,588 And what that also provides is security. 412 00:25:34,788 --> 00:25:38,588 I can't just get mugged and lose all my company's money. 413 00:25:40,128 --> 00:25:42,088 I can't just log into my bank account 414 00:25:42,088 --> 00:25:45,408 and drain it with my Bitcoin. 415 00:25:45,408 --> 00:25:48,228 You have to have somebody else there for you. 416 00:25:51,376 --> 00:25:56,955 financial professional working with Bitcoin, you know the pain of messy CSVs, broken cost basis, 417 00:25:57,216 --> 00:26:02,916 and accounting tools that were never built for this asset. Bitment fixes that. Bitment is the 418 00:26:02,916 --> 00:26:09,416 Bitcoin native accounting platform built for CPAs, bookkeepers, advisors, miners, and serious Bitcoin 419 00:26:09,416 --> 00:26:15,376 investors. You get clean Bitcoin bank statements, reliable cost basis tracking, full reporting, 420 00:26:15,376 --> 00:26:21,015 and fiat integration through Plaid. No crypto talk, no workarounds, just proper accounting for 421 00:26:21,015 --> 00:26:25,896 the hardest money on earth. Create a free account or book a demo at bitment.co today. 422 00:26:27,116 --> 00:26:33,455 Take a little bit of a step back. So, so you, you, you're throwing around keys, right? I think 423 00:26:33,455 --> 00:26:40,955 talk through the words and then the hardware device as well as the phone, right? Because you 424 00:26:40,955 --> 00:26:45,595 can have it where you can just easily spend on your phone for small amounts. You've got the 425 00:26:45,595 --> 00:26:49,396 physical, and this was something that I really, uh, I remember getting hung up on, like, 426 00:26:49,396 --> 00:26:55,616 what is the difference between the words and the actual physical little calculator-looking 427 00:26:55,616 --> 00:26:57,736 signing device, right? 428 00:26:58,156 --> 00:26:58,295 Yep. 429 00:26:59,255 --> 00:27:00,095 Yeah, so you can... 430 00:27:00,095 --> 00:27:07,476 Okay, so your private key is what gives you access to your Bitcoin on-chain. 431 00:27:07,995 --> 00:27:14,116 Your public key is what people see to know what your address balance is and where to 432 00:27:14,116 --> 00:27:15,035 send your Bitcoin to. 433 00:27:15,156 --> 00:27:17,515 You can think of it like your home address and your house key. 434 00:27:17,515 --> 00:27:24,075 because I know where you live doesn't mean I can get in unless I have your key and then you have 435 00:27:24,075 --> 00:27:30,495 your seed phrase which can help generate your key and it's basically a human readable format 436 00:27:30,495 --> 00:27:37,815 of about 12 words uh that is sent that essentially equals the randomness that is your private key 437 00:27:37,815 --> 00:27:43,495 and that would kind of have to get into the weeds to describe more but you you write down your 12 438 00:27:43,495 --> 00:27:47,936 words and you create a wallet you write that down twice you don't screenshot it 439 00:27:47,936 --> 00:27:51,595 you don't email it you don't take a picture of it you write it down you 440 00:27:51,595 --> 00:27:55,555 cannot hack pen and paper you write it down twice put them in two separate 441 00:27:55,555 --> 00:28:02,376 locations you now have two backups in case something happens to your device so 442 00:28:02,376 --> 00:28:05,555 that's what we mean when we say keys and backup phrase and all of that and then 443 00:28:05,555 --> 00:28:10,416 when you have your hardware wallet like I've got our Bitcoin based seed signer 444 00:28:10,416 --> 00:28:17,916 so this is a DIY hardware wallet. I like it because you can build these 445 00:28:17,916 --> 00:28:23,196 yourself. Now of course there are other devices that are nicer and more expensive 446 00:28:23,196 --> 00:28:27,275 and maybe feel better in your hand but at the end of the day they all do the 447 00:28:27,275 --> 00:28:34,055 same thing. All these devices do is keep your key material offline. So 448 00:28:34,055 --> 00:28:39,136 whenever I want to send a transaction of course I have to go I have to touch the 449 00:28:39,136 --> 00:28:43,755 internet to broadcast that information. So if you have something like a cold card, the 450 00:28:43,755 --> 00:28:48,855 Kalko Oaken device, you said, your keys are actually stored on that device. They have a 451 00:28:48,855 --> 00:28:54,656 secure element like your phone does that is resistant to hacking and breaching. But ultimately, 452 00:28:55,015 --> 00:29:00,916 those devices have your keys on that device. And they're not connected to the internet. 453 00:29:01,595 --> 00:29:07,676 Correct. And so like, for example, the seed signer, you communicate with via QR codes. 454 00:29:08,555 --> 00:29:13,055 You create your transaction on your computer, on your monitoring wallet. 455 00:29:13,315 --> 00:29:15,535 That way you put your public key into that wallet. 456 00:29:16,236 --> 00:29:18,176 That way you can see all of your transactions. 457 00:29:18,416 --> 00:29:19,116 You can label them. 458 00:29:19,176 --> 00:29:20,075 You can do your bookkeeping. 459 00:29:20,476 --> 00:29:21,355 You can receive. 460 00:29:22,035 --> 00:29:26,416 But once you send, you have to get that key to sign that transaction. 461 00:29:27,156 --> 00:29:30,455 You know, just like if I have your home address, I can look you up on the property records. 462 00:29:30,656 --> 00:29:31,815 I can check your flood zone. 463 00:29:32,075 --> 00:29:33,055 I can send mail. 464 00:29:33,055 --> 00:29:37,995 I can see if people are walking into your door, but I can't get in without that key. 465 00:29:38,196 --> 00:29:41,795 And so what these devices do is cold storage, keep your key offline. 466 00:29:42,716 --> 00:29:45,775 And, you know, this uses QR codes. 467 00:29:46,656 --> 00:29:48,275 Cold card uses SD cards. 468 00:29:49,255 --> 00:29:51,275 You know, each device kind of has their own layout. 469 00:29:51,455 --> 00:29:53,716 It's called air-gapped communication. 470 00:29:55,035 --> 00:29:55,156 Okay. 471 00:29:55,495 --> 00:29:56,396 Go ahead. 472 00:29:56,876 --> 00:30:01,035 Yeah, I was just going to, because I think I want to make sure we cover this. 473 00:30:01,035 --> 00:30:10,616 I want to make sure we cover, you know, kind of that trade-off model that I think a lot of business owners, right, would like rely upon maybe a strike or a river. 474 00:30:11,035 --> 00:30:26,716 But then I think the real, like, I just want to tee it up is like the real reason why we would go through any of this, right, as a business owner is so that, and we can get into this towards the end of the conversation probably, but so that you actually have control over your money. 475 00:30:27,035 --> 00:30:28,116 You know, we've seen the bank failures. 476 00:30:28,216 --> 00:30:29,095 We can get into some of that. 477 00:30:29,156 --> 00:30:31,396 But I think that would be helpful for this audience. 478 00:30:31,396 --> 00:30:37,376 Again, you know, we're not technical, but it is helpful to know, like, these are the options that we've got. 479 00:30:37,515 --> 00:30:42,196 But then the big thing is, like, why are we even talking about this in the first place? 480 00:30:42,515 --> 00:30:43,095 So, yeah. 481 00:30:43,295 --> 00:30:48,595 No, I think maybe we would go from there to, like, more of the tradeoff models with maybe a reverse strike. 482 00:30:48,656 --> 00:30:50,095 That might be a good place for us to go next. 483 00:30:50,855 --> 00:30:54,636 Yeah, if you haven't checked out by now and you're like, why would I go through all this? 484 00:30:54,656 --> 00:30:56,295 This sounds like a huge pain in the ass. 485 00:30:56,295 --> 00:30:58,315 I could just have it be custodied on Coinbase. 486 00:31:00,416 --> 00:31:01,736 And you can. 487 00:31:02,315 --> 00:31:05,236 And for some people, that might be the best for you. 488 00:31:05,955 --> 00:31:06,656 I'm not Coinbase. 489 00:31:06,736 --> 00:31:07,255 I hate Coinbase. 490 00:31:07,335 --> 00:31:09,156 They're going to date or greet you within like six months. 491 00:31:11,055 --> 00:31:11,936 It's ridiculous. 492 00:31:12,535 --> 00:31:13,976 The fact that you're even still a solvent company. 493 00:31:14,156 --> 00:31:16,515 Never respond to a text message from Coinbase. 494 00:31:16,676 --> 00:31:20,835 I mean, most people have been a Coinbase user at some point, I guess. 495 00:31:22,116 --> 00:31:25,916 And yeah, I get so many emails, so many texts that are like, 496 00:31:26,295 --> 00:31:30,236 uh, oh, you changed your password. You know, did you mean to do that? It's like, 497 00:31:30,416 --> 00:31:33,995 I haven't logged into my Coinbase account forever. There's like five bucks in there. 498 00:31:34,035 --> 00:31:38,696 If you want to steal it, go for it. Um, so all that's say, yeah, if you can avoid 499 00:31:38,696 --> 00:31:42,595 ever even getting into Coinbase as a new user, that's, that'd be amazing. 500 00:31:43,156 --> 00:31:51,876 Yeah. And you know, if you're, if you're, if you're looking for handheld, um, simple Bitcoin 501 00:31:51,876 --> 00:31:58,936 KYC exchange. I mean, we, we, we recommend river. We use river, you know, they're a trusted people. 502 00:31:59,075 --> 00:32:03,676 They've never gotten breached. As far as I know, they do proof of reserves. They have like layered 503 00:32:03,676 --> 00:32:08,396 security. So if you're going to go with the custody model, um, you're going to have to scan 504 00:32:08,396 --> 00:32:13,095 your face. You're gonna have to upload a bunch of documents. You're, it's a very permissioned 505 00:32:13,095 --> 00:32:18,495 and, you know, non, no privacy system. Some people don't care about that. So, you know, 506 00:32:18,495 --> 00:32:28,696 that's fine. But that kind of gets to what I always call, it's the privacy and security 507 00:32:28,696 --> 00:32:36,736 versus convenience trade-off. Money in your pocket is conveniently accessed. Money in your safe, 508 00:32:36,736 --> 00:32:43,555 a safety deposit box buried in the backyard, is inherently inconvenient to access because it is 509 00:32:43,555 --> 00:32:50,236 more secure. The more secure something is, the less convenient it is to get to. That's just how 510 00:32:50,236 --> 00:32:58,775 it works. But with that extra security and lower convenience, you have more control. You know, 511 00:32:58,835 --> 00:33:03,976 I have full control over the funds on my phone wallet. And so why you as a business owner want 512 00:33:03,976 --> 00:33:12,755 control over your coins? Your bank's been frozen because, you know, you had a large purchase order 513 00:33:12,755 --> 00:33:20,396 come in that was out of your typical range. You were banking with Silicon Valley Bank because you 514 00:33:20,396 --> 00:33:24,376 were a startup. You were banking with First Republic. You were banking with Silvergate. 515 00:33:25,315 --> 00:33:33,136 You know, your banks just go under, apparently, just randomly these days. And if you have payroll 516 00:33:33,136 --> 00:33:41,355 to make today, tomorrow, and your bank is being brought into receivership and your employees are 517 00:33:41,355 --> 00:33:48,335 living paycheck to paycheck like most Americans, you need optionality. Are you going to keep 518 00:33:48,335 --> 00:33:54,755 $30,000 in cash in a safe in your office and tell your employees to come in and you start 519 00:33:54,755 --> 00:34:02,236 just handing it out? Or are you going to keep that in an asset that typically grows over, 520 00:34:02,236 --> 00:34:08,216 you know, four year spans? Because it's not likely your bank's going to fail in six months. 521 00:34:08,216 --> 00:34:17,016 over four years. We've gone from 5,000 banks in the United States before 08. We're at like 522 00:34:17,016 --> 00:34:27,996 1,800 now. So that's not a good survivor rate. So banks are failing and becoming more restrictive 523 00:34:27,996 --> 00:34:36,155 on the activity they're allowing. So I mean, we were using Square for, I was using Square for a 524 00:34:36,155 --> 00:34:41,696 separate business last year, we had a large invoice come in, larger than any we've had, 525 00:34:42,755 --> 00:34:46,595 froze our account. We had contractors getting pissed off because they weren't able to be paid. 526 00:34:47,115 --> 00:34:49,476 They don't want Bitcoin. I was like, well, you're going to have to wait then. I'll have to tell you. 527 00:34:49,936 --> 00:34:58,055 We're frozen. I'm on the phone with their customer service. So that's a why. Why do you want control 528 00:34:58,055 --> 00:35:04,315 of this? Why do you want that to happen? Now, there's models that kind of help reduce 529 00:35:04,315 --> 00:35:10,775 the responsibility and liability on yourself. 530 00:35:10,916 --> 00:35:11,936 Like there's collaborative custody, 531 00:35:12,356 --> 00:35:14,175 which you guys offer, 532 00:35:15,655 --> 00:35:20,315 where you have that two of three multi-signature key setup 533 00:35:20,315 --> 00:35:24,555 where I hold two keys and we give one to a custodian 534 00:35:24,555 --> 00:35:27,655 like Jordan or Unchained or whomever. 535 00:35:28,356 --> 00:35:32,075 And I'm able to do everything I need with my two keys. 536 00:35:32,075 --> 00:35:37,135 but if I screw up and my phone breaks, I didn't back it up correctly, I lose one. 537 00:35:38,095 --> 00:35:42,716 Jordan comes in with that third key. We're able to reset the quorum, move the Bitcoin back around 538 00:35:42,716 --> 00:35:49,396 and return to the keys. So that kind of gives you a backup to yourself. It removes you kind 539 00:35:49,396 --> 00:35:56,555 of as a single point of failure. So there's definitely a whole spectrum of the convenience 540 00:35:56,555 --> 00:36:04,456 versus security line. And really, it's just going to all come down to, you know, how much control 541 00:36:04,456 --> 00:36:10,255 do you want over your funds? How much privacy do you want? And do you want to pay somebody to help 542 00:36:10,255 --> 00:36:16,016 you? And for some people, they're like, I don't need control over this. I'm fine putting this in 543 00:36:16,016 --> 00:36:21,115 my fidelity and losing 1% a year. I don't care about my privacy. It came to me through the bank 544 00:36:21,115 --> 00:36:25,815 anyways. My face is already in a scandal over the internet. And, you know, I'm not going to worry 545 00:36:25,815 --> 00:36:32,315 about needing this in an emergency. This is just an investment and blah, blah, blah. Whatever. 546 00:36:32,696 --> 00:36:33,476 That's up to you. 547 00:36:36,555 --> 00:36:40,976 This episode is brought to you by Satoshi Pacioli, a full-service accounting and tax 548 00:36:40,976 --> 00:36:45,575 firm built for the Bitcoin economy. If you run a Bitcoin business, mine Bitcoin, or invest in it, 549 00:36:45,655 --> 00:36:50,196 you need advisors who actually understand how this industry works. Satoshi Pacioli handles 550 00:36:50,196 --> 00:36:54,675 bookkeeping, financial reporting, tax compliance, and strategic planning for Bitcoin-focused 551 00:36:54,675 --> 00:36:58,416 companies and individuals. They speak the language of Bitcoiners and help you stay 552 00:36:58,416 --> 00:37:02,835 compliant while building for the long term. To learn more or book a consultation, visit 553 00:37:02,835 --> 00:37:09,035 satoshipacioli.com. Well, and it's important too to point out, you know, we've been speaking about 554 00:37:09,035 --> 00:37:13,896 business owners, but also, you know, every business owner is also just a individual and 555 00:37:13,896 --> 00:37:20,496 probably has a family. And so the other really cool part about the multi-sig is that in the case 556 00:37:20,496 --> 00:37:27,075 that you die or you and your spouse die, you know, immediately, um, for whatever reason, 557 00:37:27,075 --> 00:37:34,595 God forbid, like then there are ways to recover that Bitcoin. If you didn't, well, hopefully you 558 00:37:34,595 --> 00:37:40,235 document it all. You probably need to document it all correctly, but especially if other people have 559 00:37:40,235 --> 00:37:48,376 keys, for example, if you had, you know, I guess maybe a three of five, right. And you gave two of 560 00:37:48,376 --> 00:37:54,216 keys out to trusted partners, whether it was your attorney, your CPA, someone in the family that 561 00:37:54,216 --> 00:37:59,476 knows what they're doing. That would be really helpful for the next generation, right? To make 562 00:37:59,476 --> 00:38:04,155 sure that you're not, you know, just another person on the news with, you know, they're talking about, 563 00:38:04,255 --> 00:38:08,735 oh, they lost their, they lost their keys because they didn't do the correct backup or they didn't 564 00:38:08,735 --> 00:38:13,275 tell anybody about it, that kind of thing. So multi-sig is very customizable and it's, 565 00:38:13,675 --> 00:38:17,235 it's a very interesting tool. We've come a long way, I would say, right in the last like 566 00:38:17,235 --> 00:38:18,655 seven or eight years. 567 00:38:19,155 --> 00:38:19,436 Oh, yeah. 568 00:38:20,175 --> 00:38:20,496 So. 569 00:38:20,775 --> 00:38:21,175 Yeah, I mean, 570 00:38:21,196 --> 00:38:22,155 we didn't have seed phrases 571 00:38:22,155 --> 00:38:22,996 until 2015. 572 00:38:23,696 --> 00:38:23,856 Yeah. 573 00:38:24,476 --> 00:38:25,135 That's why everyone 574 00:38:25,135 --> 00:38:25,936 was losing so much Bitcoin 575 00:38:25,936 --> 00:38:26,615 back in the day 576 00:38:26,615 --> 00:38:28,755 was it was difficult to store. 577 00:38:29,595 --> 00:38:30,416 Paper wallets 578 00:38:30,416 --> 00:38:31,295 were the standard. 579 00:38:32,396 --> 00:38:33,476 You didn't have seed phrases 580 00:38:33,476 --> 00:38:35,356 and it wasn't really worth much. 581 00:38:35,476 --> 00:38:36,095 So people were like, 582 00:38:36,196 --> 00:38:37,396 I've got 500 Bitcoin 583 00:38:37,396 --> 00:38:38,655 that's worth like 200 bucks 584 00:38:38,655 --> 00:38:39,936 on this hard drive. 585 00:38:40,835 --> 00:38:40,956 Eh. 586 00:38:41,716 --> 00:38:41,956 Yeah. 587 00:38:42,135 --> 00:38:42,956 You know, oh well. 588 00:38:43,175 --> 00:38:43,815 I don't know where it is, 589 00:38:43,815 --> 00:38:44,396 but it doesn't really matter. 590 00:38:44,535 --> 00:38:45,476 It's somewhere over there. 591 00:38:46,095 --> 00:38:46,255 Yeah. 592 00:38:46,255 --> 00:38:47,115 That doesn't happen anymore. 593 00:38:47,235 --> 00:39:03,503 People are like I don want to be the next pizza guy or the guy who throws his Bitcoin away into a landfill I like you won be That doesn happen You not going to have 5 Bitcoin anyways And maybe you are And if you 594 00:39:03,503 --> 00:39:08,563 are, you can donate to Bitcoin Bay to lower your tax burden. But that's a separate issue. 595 00:39:08,563 --> 00:39:15,383 Okay. So I think we should talk about, I'm glad you brought up Bitcoin Bay. I think what you do 596 00:39:15,383 --> 00:39:20,263 and your local community and probably more broadly to the, you know, to your internet 597 00:39:20,263 --> 00:39:24,963 audience as well is like you educate people, which is extremely important. 598 00:39:25,103 --> 00:39:25,603 It's crazy. 599 00:39:25,703 --> 00:39:31,883 If you're in this world, you figure everyone knows exactly what I know, right? 600 00:39:31,943 --> 00:39:36,663 And then you start talking to people and you're like, no, they've, I guess they've not listened 601 00:39:36,663 --> 00:39:40,403 to as many podcasts as I've listened to about Bitcoin and read as many books. 602 00:39:40,743 --> 00:39:43,983 So I guess, talk to me about how that experience has been. 603 00:39:43,983 --> 00:39:50,643 And, you know, I know when we were just down in Tampa, you had a professor from the local university that was there, University of Tampa. 604 00:39:51,103 --> 00:39:57,723 And he even brought along, I think it was like seven or eight different students from his class, which was awesome, by the way. 605 00:39:57,723 --> 00:40:01,743 I was like going up to him like any of you all studying accounting and want an internship? 606 00:40:02,743 --> 00:40:08,043 Because if you're at this event on a Saturday morning, that tells me something about your character and work ethic. 607 00:40:08,203 --> 00:40:12,163 So anyways, yeah. Tell us about what you've been doing with the education piece. 608 00:40:12,943 --> 00:40:13,123 Yeah. 609 00:40:13,243 --> 00:40:14,643 Well, if you need interns, I got them. 610 00:40:14,983 --> 00:40:16,383 There's a lot of accounting majors over there. 611 00:40:16,443 --> 00:40:19,603 They've helped us with our books before I finally acquiesced. 612 00:40:19,683 --> 00:40:20,983 I went to Joe and was like, please help. 613 00:40:22,143 --> 00:40:22,463 Okay. 614 00:40:22,563 --> 00:40:22,963 Sounds good. 615 00:40:23,003 --> 00:40:24,603 We'll talk about that off air. 616 00:40:25,443 --> 00:40:30,023 But yeah, that's been, you know, so our whole shtick is education. 617 00:40:30,323 --> 00:40:31,763 You know, we're a 501c3. 618 00:40:31,923 --> 00:40:33,843 We're a community education-based nonprofit. 619 00:40:33,843 --> 00:40:39,203 And we did that because we want to be able to go to schools and businesses and individuals 620 00:40:39,203 --> 00:40:42,703 and be like, look, we're not here to sell you Bitcoin. 621 00:40:43,523 --> 00:40:46,563 We are here to educate and help build this community. 622 00:40:47,543 --> 00:40:52,203 Because so many, you know, there's an ocean of information out there. 623 00:40:52,263 --> 00:40:54,003 I mean, you already mentioned the podcast and the books. 624 00:40:55,203 --> 00:40:57,303 You know, not to mention just like Googling and what is Bitcoin. 625 00:40:57,543 --> 00:41:01,263 You know, like it is like drinking from a fire hose 626 00:41:01,263 --> 00:41:02,403 while you're going down a water slide. 627 00:41:02,503 --> 00:41:04,423 Like it is insane. 628 00:41:04,423 --> 00:41:18,883 And so, you know, that was our goal of being an in-person community hub where you can come in and speak to a human or several people at one of our meetups and realize like, okay, I'm not alone. 629 00:41:19,843 --> 00:41:31,543 I'm not going into some back alley to trade Bitcoin for cash, like coming into an office building that's well lit and, you know, has other offices and businesses and things being done inside of it. 630 00:41:31,543 --> 00:41:36,043 and I can go and speak to a human about these issues 631 00:41:36,043 --> 00:41:37,723 and look them in the eye. 632 00:41:38,563 --> 00:41:41,683 So that was a big reason why we've done this. 633 00:41:42,643 --> 00:41:44,703 And I'm a private guy. 634 00:41:44,803 --> 00:41:47,043 I don't like being the face of Bitcoin Bay, 635 00:41:47,203 --> 00:41:48,403 but, you know, oh well. 636 00:41:49,803 --> 00:41:51,223 Someone had to do it. 637 00:41:51,363 --> 00:41:52,023 Yeah, here we are. 638 00:41:52,663 --> 00:41:53,703 Yeah, yeah. 639 00:41:53,803 --> 00:41:54,763 And yeah, I should have done that 640 00:41:54,763 --> 00:41:56,463 before I went on all these podcasts, but oh well. 641 00:41:58,403 --> 00:42:01,143 And the relationship with the University of Tampa 642 00:42:01,143 --> 00:42:04,203 has been one of my favorite parts about this. 643 00:42:04,283 --> 00:42:05,523 The community that we've built here 644 00:42:05,523 --> 00:42:07,243 and the relationships we have over there 645 00:42:07,243 --> 00:42:09,023 are a blessing. 646 00:42:09,183 --> 00:42:10,243 We have a course being taught 647 00:42:10,243 --> 00:42:11,103 at the University of Tampa now, 648 00:42:11,163 --> 00:42:12,083 the Economics of Bitcoin. 649 00:42:12,843 --> 00:42:13,923 The Bitcoin Club there 650 00:42:13,923 --> 00:42:16,083 is the second largest non-Greek club on campus. 651 00:42:17,703 --> 00:42:19,963 I'll go and speak there once or twice a semester 652 00:42:19,963 --> 00:42:22,043 and the kids are standing. 653 00:42:23,143 --> 00:42:24,583 There's 50 plus people. 654 00:42:24,583 --> 00:42:27,543 That club puts most meetups I've seen to shame, 655 00:42:27,643 --> 00:42:28,243 mine included. 656 00:42:28,243 --> 00:42:34,303 and the kind of first crop is graduating now and you know then now they're coming to the actual 657 00:42:34,303 --> 00:42:38,803 meetup is because they can't really go to their own any other old one anymore and seeing these 658 00:42:38,803 --> 00:42:45,403 students that you know are understand a lot of the things that we understand because that professor 659 00:42:45,403 --> 00:42:53,443 is you know he's he's based he is he's crazier than I am which is saying something and so you 660 00:42:53,443 --> 00:42:55,883 You know, he attracts a certain student. 661 00:42:56,623 --> 00:42:59,423 And so I love going and talking to that class. 662 00:43:00,643 --> 00:43:02,083 Half of them are there for the extra credit. 663 00:43:02,963 --> 00:43:08,723 But, you know, a solid chunk of them have their heads up and their eyes are actually open and they're actually looking at you. 664 00:43:09,663 --> 00:43:12,223 And like listening to the words that we're saying. 665 00:43:12,223 --> 00:43:17,703 Because they're looking for like hope and like options for the future. 666 00:43:17,703 --> 00:43:25,043 You know, I mean, everyone can feel the squeeze we've been under for our whole lives, you know. 667 00:43:26,743 --> 00:43:32,663 And kids especially, I mean, full adults in their early 20s especially are like, 668 00:43:33,503 --> 00:43:34,523 okay, I'm going to graduate. 669 00:43:34,703 --> 00:43:38,743 I'm leaving my little bubble, you know, and I have to get a job 670 00:43:38,743 --> 00:43:41,123 and then hopefully buy a house and start a family. 671 00:43:41,863 --> 00:43:46,343 How the heck am I supposed to do that in the median age of a home buyer is above 40, you know. 672 00:43:46,343 --> 00:43:49,843 and so they're looking for alternatives. And so that's, you know, that's why, you know, 673 00:43:49,883 --> 00:43:55,223 like people say Bitcoin is hope. I mean, it really is because it gives them something, 674 00:43:55,223 --> 00:44:02,083 it gives them a way to opt out. And, you know, that's like, that's the option I took, 675 00:44:02,363 --> 00:44:05,603 you know, back in the day as well, when I realized, you know, how broken things were 676 00:44:05,603 --> 00:44:09,343 during COVID. I was like, you know what, I'm out. I'm, you're not freezing my bank account. 677 00:44:09,843 --> 00:44:13,243 You're not taking my assets. You are going to have to come physically to my house 678 00:44:13,243 --> 00:44:15,543 to enforce your will on me. 679 00:44:15,623 --> 00:44:16,103 You're not gonna be able to, 680 00:44:16,243 --> 00:44:18,543 I will not be at the whim of like a button pusher. 681 00:44:18,863 --> 00:44:19,043 Yeah. 682 00:44:19,483 --> 00:44:21,423 And, you know, so this gives these people, 683 00:44:21,623 --> 00:44:22,543 these kids, these adults, 684 00:44:23,203 --> 00:44:25,823 an option and an opt out for them, 685 00:44:25,863 --> 00:44:26,883 essentially that they're able to do. 686 00:44:26,943 --> 00:44:27,563 I'm like, you know what? 687 00:44:27,823 --> 00:44:29,403 I'm gonna go in this path. 688 00:44:29,763 --> 00:44:31,623 And it's been great. 689 00:44:31,623 --> 00:44:35,303 It's been a real honor to work with the students over there. 690 00:44:35,583 --> 00:44:36,663 No, that's, I mean, it's awesome 691 00:44:36,663 --> 00:44:40,563 because even, you know, my youngest sibling, Emma, 692 00:44:40,783 --> 00:44:42,763 she's in college right now. 693 00:44:42,763 --> 00:44:46,023 I think she's a junior, hard to keep up with everyone. 694 00:44:46,303 --> 00:44:48,843 But yeah, it's like we have conversations 695 00:44:48,843 --> 00:44:50,963 and I'm like, Emma, what are you majoring in? 696 00:44:51,343 --> 00:44:53,543 And she'll tell me, I'm like, man, 697 00:44:53,823 --> 00:44:56,583 are you thinking through like how AI 698 00:44:56,583 --> 00:44:58,023 is gonna change the landscape? 699 00:44:58,783 --> 00:45:00,503 And it's one thing for us, you know, 700 00:45:01,223 --> 00:45:02,743 I think we're about the same age, you know, 701 00:45:02,803 --> 00:45:04,463 late 20s for you, I just turned 30. 702 00:45:05,003 --> 00:45:06,523 And it's like, okay, well, 703 00:45:06,563 --> 00:45:08,883 we've been able to establish ourselves 704 00:45:08,883 --> 00:45:11,263 and there's experience or, you know, 705 00:45:11,263 --> 00:45:12,463 once you're a Bitcoiner for long enough, 706 00:45:12,463 --> 00:45:14,743 if you normally just go start your own business, right? 707 00:45:14,943 --> 00:45:17,943 And so don't answer to at least one employer, 708 00:45:18,143 --> 00:45:20,063 maybe a lot of clients or something like that. 709 00:45:20,063 --> 00:45:21,523 So, or a lot of donors. 710 00:45:22,863 --> 00:45:27,203 And so all that to say, I think these students are, 711 00:45:27,743 --> 00:45:29,403 if they're smart, right, they're looking around 712 00:45:29,403 --> 00:45:32,983 and they're like, where are things headed, right? 713 00:45:33,103 --> 00:45:36,603 And it's really fun in the Bitcoin space, at least. 714 00:45:36,683 --> 00:45:38,443 I mean, we get a fun view of like, 715 00:45:38,683 --> 00:45:40,423 here are all the businesses that are getting built, 716 00:45:40,543 --> 00:45:42,323 that are raising money, that have closed this round. 717 00:45:42,463 --> 00:45:46,203 and being able to say, okay, that's where the wind's headed. 718 00:45:46,503 --> 00:45:48,743 And one of the things, at least in my seat, 719 00:45:48,783 --> 00:45:52,783 is like I think financial services is going to change a lot, 720 00:45:53,183 --> 00:45:56,303 but you will always, to your point about being in person 721 00:45:56,303 --> 00:45:59,583 and shaking people's hands, I think people miss that lost art. 722 00:46:00,363 --> 00:46:02,503 And so that is always going to be around. 723 00:46:02,923 --> 00:46:07,463 It's all that to say, like trying to hold the hand of a younger person 724 00:46:07,463 --> 00:46:10,623 and say, look, based on your skill set, 725 00:46:10,623 --> 00:46:15,883 your passion for different things, like maybe come along this journey, this is how you fit into the 726 00:46:15,883 --> 00:46:21,503 Bitcoin ecosystem from an employment standpoint is very, very interesting to me. 727 00:46:23,183 --> 00:46:29,283 Yeah, that's been a goal of ours is to, you know, we have relationships with people all across the 728 00:46:29,283 --> 00:46:35,183 Bitcoin space. And these are qualified students that we've known for years. Some of them have 729 00:46:35,183 --> 00:46:40,783 intern directly for us and now we're getting employees in the jobs um you know like i'd rather 730 00:46:40,783 --> 00:46:44,163 you know like i don't know if you ever played the dice game left right center like you want the 731 00:46:44,163 --> 00:46:49,603 dollars close to you you know so so i want to go i want to get my friends at the employers 732 00:46:49,603 --> 00:46:56,623 qualified candidates and hires and i want my students and you know friends nearby to be getting 733 00:46:56,623 --> 00:47:02,203 paid you know so it's i selfishly i want more bitcoin in tampa bay of course you know but um 734 00:47:02,203 --> 00:47:03,803 You know, because it is tough. 735 00:47:03,863 --> 00:47:05,903 I mean, I'm always sending people Bitcoin or jobs.com. 736 00:47:05,903 --> 00:47:15,743 You know, I'm always trying to find places to plug people in, you know, because it's just it's tough out there, especially if you're young and just starting. 737 00:47:16,263 --> 00:47:18,323 You know, I think you've done employment is hitting like 10 percent. 738 00:47:18,803 --> 00:47:19,823 Yeah, no, absolutely. 739 00:47:20,503 --> 00:47:21,843 Well, this has been great. 740 00:47:22,443 --> 00:47:29,743 I want to probably just close out with how, you know, if someone's listening, they're an advisor, they are a business owner. 741 00:47:29,983 --> 00:47:31,903 Where would you point them to go next? 742 00:47:32,203 --> 00:47:38,363 Uh, is it just their local meetup? Is it specific? Any, any book recommendations, podcast recommendations? 743 00:47:40,723 --> 00:47:50,923 Well, nobody reads, uh, so I don't recommend books anymore. Um, and if you're a business owner with a family, you probably don't have much time to read through the Bitcoin and fiat standard and gradually then suddenly. 744 00:47:51,703 --> 00:48:01,083 Um, you know, so I, I would, I tell everybody this, find your local meetup, go to your local meetup, meet the people in your area, especially if you're a business owner. 745 00:48:01,083 --> 00:48:04,123 because those will be customers 746 00:48:04,123 --> 00:48:04,863 and they will go, 747 00:48:05,183 --> 00:48:05,623 they might host, 748 00:48:05,723 --> 00:48:06,903 if you run a restaurant 749 00:48:06,903 --> 00:48:09,843 or whatever, 750 00:48:10,123 --> 00:48:11,203 they might host meetups 751 00:48:11,203 --> 00:48:12,363 at your facility. 752 00:48:13,323 --> 00:48:13,443 You know, 753 00:48:13,543 --> 00:48:15,363 like if you're a business owner 754 00:48:15,363 --> 00:48:16,203 or an advisor 755 00:48:16,203 --> 00:48:18,663 and you want to get involved 756 00:48:18,663 --> 00:48:20,103 in the Bitcoin space 757 00:48:20,103 --> 00:48:21,383 and figure out where to do that, 758 00:48:21,903 --> 00:48:23,043 go into your local community 759 00:48:23,043 --> 00:48:24,863 and figure out where they are. 760 00:48:26,383 --> 00:48:27,403 If you don't have one, 761 00:48:27,883 --> 00:48:28,063 you know, 762 00:48:28,143 --> 00:48:28,983 you're listening to the podcast 763 00:48:28,983 --> 00:48:29,923 so you must already like Jordan, 764 00:48:30,123 --> 00:48:30,323 you know, 765 00:48:30,323 --> 00:48:32,203 talk to them. 766 00:48:32,623 --> 00:48:35,163 We love the work they do. 767 00:48:35,803 --> 00:48:38,283 Jordan and Joe, I've been friends with Joe for a couple of years now. 768 00:48:40,063 --> 00:48:42,683 If you're having trouble finding your local Bitcoin community, 769 00:48:42,783 --> 00:48:43,723 you can reach out to us. 770 00:48:43,963 --> 00:48:46,863 We help place people all the time. 771 00:48:47,823 --> 00:48:49,963 You can find us at bitcoinbay.foundation. 772 00:48:49,963 --> 00:48:52,543 My email is wesley at bitcoinbay.foundation. 773 00:48:53,163 --> 00:48:55,763 We can help put you in touch with whoever you want. 774 00:48:55,823 --> 00:48:58,443 If you want to mine Bitcoin, we just plenty of people want to do that too. 775 00:48:58,443 --> 00:49:01,883 So there's a whole wide world of Bitcoin out there. 776 00:49:03,143 --> 00:49:07,123 And this is not the first Bitcoin you heard of back in 2017. 777 00:49:07,443 --> 00:49:08,863 It is a very different scene. 778 00:49:09,763 --> 00:49:12,083 And there is something for you in there. 779 00:49:13,003 --> 00:49:14,343 And just get started today. 780 00:49:16,943 --> 00:49:21,423 I guess if you needed a podcast or a thing to listen to, what is the problem? 781 00:49:21,523 --> 00:49:26,003 I think it's about a 15-minute short video. 782 00:49:26,463 --> 00:49:27,983 And it just, what's the problem? 783 00:49:27,983 --> 00:49:32,903 We've talked a lot about technical stuff with custody and storage and accepting. 784 00:49:33,743 --> 00:49:36,463 Okay, yeah, I might control my money, but why? 785 00:49:36,663 --> 00:49:38,903 What problem is Bitcoin solving? 786 00:49:39,643 --> 00:49:53,143 I think understanding that will really help galvanize you and encourage you to actually put the work in if required to take responsibility for this kind of stuff. 787 00:49:53,143 --> 00:49:55,723 It can get very complicated. 788 00:49:55,723 --> 00:49:58,423 It can get as complicated as you want it to be, but it can be simple. 789 00:49:58,583 --> 00:50:03,823 But it's just the most important thing is that you start as soon as you're comfortable. 790 00:50:04,243 --> 00:50:06,043 I'd say start yesterday, start now. 791 00:50:07,063 --> 00:50:09,663 But don't let perfect be the enemy of the good here. 792 00:50:10,423 --> 00:50:14,703 Get on River or Strike and buy $10 and then send it somewhere. 793 00:50:15,263 --> 00:50:16,963 It's just scanning a QR code. 794 00:50:17,083 --> 00:50:19,063 It's really nothing crazy. 795 00:50:20,483 --> 00:50:21,683 But yeah, that would be my recommendation. 796 00:50:22,223 --> 00:50:22,403 Okay. 797 00:50:22,663 --> 00:50:23,283 That sounds great. 798 00:50:23,283 --> 00:50:28,243 Well, thank you so much for your time today, Wesley. This is amazing. Yeah. If anyone has 799 00:50:28,243 --> 00:50:33,163 any questions, of course, reach out to Wesley. And where can people find you on like X or are 800 00:50:33,163 --> 00:50:38,443 you on LinkedIn if they're on there? Yep. Yeah. Yeah. I'm at LinkedIn, Wesley Schlemmer. If you 801 00:50:38,443 --> 00:50:44,463 search Bitcoin Bay, I should bring me up too. We're on Twitter at Bitcoin Bay TPA, as well as 802 00:50:44,463 --> 00:50:52,143 Instagram. I don't have personal Instagrams and Twitters anymore, but I do read those DMs. So you 803 00:50:52,143 --> 00:50:55,663 can follow us on there and hit us up if you have questions. We're happy to help. 804 00:50:56,463 --> 00:51:00,903 Beautiful. Alrighty. That sounds great. Well, thanks so much for listening today, 805 00:51:00,903 --> 00:51:03,323 and we will be back next week. Bye. 806 00:51:22,143 --> 00:51:27,383 becomes and the better our clients are served. Stay sharp, stay sovereign, and keep leading from the front. 807 00:51:52,143 --> 00:52:22,123 Thank you.