08 June 2022
CD66: bootstrapping a bitcoin circular economy and the beef initiative with @modernTman, @Dooowta, @carlostoriello, and @RJCoope
EPISODE: 66
BLOCK: 739907
PRICE: 3284 sats per dollar
TOPICS: beef initiative, shake your ranchers hand, the tennessee beef initiative, circular economy, education, my first bitcoin course, volatility, personal responsibility
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Happy Bitcoin Wednesday, freaks. It's your boy, Odell, here for the second dispatch from the new studio in 2 days. Extremely excited for this conversation. We got a great crew here. As always, I wanna thank the Freaks for supporting the show and keeping it ad free and sponsor free, purely focused on actionable discussion. You guys make it possible. I really do appreciate you. Another huge shout out for the Freaks who join us in the live chat and contribute. You make this show unique. Reminder, if you want to join the live chat, you go to cildispatch.com and click that citadel.chat button.
If you wanna support the show, you can support the show at cildispatch.com, or you can support it, via podcasting 2.0 apps, like Fountain Podcasts and Breeze. As we have gone over in the past episodes, I am now reading out, boostograms. If you send a boostogram, the highest ones in terms of sats, get read out light on live on air. I'm extremely impressed and humbled that people within a day have sent new boostograms. We have roughneck minor at a 100,000 sats said keep up the great work. Hope this helps. It does help. I appreciate you, roughneck. We have letter 6173 saying, I support your value for value transaction and would also like to contribute. That's also a 100,000 sats.
Someone boosted underneath him, which I didn't even know you could do as a reply and said baller boost for 49100 sats. And then we have law Bitcoin, 25,000 sats. Damn. I missed Bitcoin Tuesdays. Thanks for putting out the great podcast, and to the awesome guests, I've learned a ton from you guys. Chrysalis, first time boosting, sending some value for value improvements to the audio quality. Let's go. Anyway, thank you guys. There's some more boost there. You can read them in any podcasting 2.0 app, by clicking the episode and clicking the boost button to read them.
So with all that said, let's get right down to business. Today, we'll be talking about bootstrapping a Bitcoin circular economy and the beef initiative. I got 4 awesome dudes here in the brand new studio at Bitcoin Park with me to have this to have this conversation. I'm looking forward to it, boys. So first off, we have Texas Slim. How's it going, Texas Slim? Hey, Matt. Doing well.
[00:02:52] Unknown:
It's gonna be hard to leave Nashville for sure after we're sitting here. I love to hear
[00:02:57] Unknown:
it. Slow and steady. Tennessee Slim coming to the coming to the park. You go. You've you've got that trademark now. We have, Ryan here, from the Missouri beef initiative. How's it going, Ryan? Okay. Yeah. Real good. Dude, it's a pleasure to have you here. So it was a little bit of a surprise to me. You just walked in about 15 minutes ago, 20 minutes ago. So I, what I say? I I think I just knocked him. Am I at the Bitcoin house? Oh, yeah. He's like, I'm Satoshi. I was like, who the fuck is this guy? We have, Michael Michael Atwood here from Oshi, return guest. Good friend. How's it going, Michael? It's doing great, man. Good to be here. Good to record face to face. Fuck, yeah. I think we're gonna do face to face going forward with this batch. It's such a better vibe. Oh, yeah.
And we have Carlino from Ibex who's been working Ebex, who's been working in El Salvador on an education initiative. How's it going, Carlino?
[00:03:48] Unknown:
Fantastic. Thanks for having me. Love, flying north to come to the south.
[00:03:52] Unknown:
Fuck yes. It's put flying north to come to the south. It's a pleasure to have you. So, guys, where do we wanna start here? What are you guys thinking? Well, let's, let's just talk about bootstrapping
[00:04:05] Unknown:
and circular economies and, you know, how we're what we're doing within the beef initiative is, you know, from the very beginning, it's about decentralizing our food supply and how do we get there. How do we look at market access about how we feed ourselves, and how we leverage Bitcoin and all the technology stacks that are going on right now that we're kinda innovating collectively right now. I think that this point of the the road that we've come to, this is a crossroad of we're taking it up a notch. And I think just letting everybody know where we've come from, the relationships that we all have in here, and how they've kinda coalesced together in a symbiotic way is is the most fascinating thing with me because this is this has been a ride. This has been a journey journey, like, with me and Michael. It's been what, 7 months, Michael, that we started talking with each other.
[00:04:54] Unknown:
Yeah. Maybe it would be we should talk about that later, how that all came back. Yeah. But, you know, it's it's moving fast, but we're in a perfect position.
[00:05:02] Unknown:
You know, here today in Nashville, we get to kinda kinda release to the world, like, where we are and and and the confidence we have moving forward. So fuck. Yeah. I'm excited. Yeah. Hell, yeah. I mean, it's Vibes are high. Momentum's building. It it's it's a no brain I mean, I drove into, Nashville, you know, and I was freaking grinning. I was like, man, this is gonna be tough. And I was like, I'm gonna kinda send a message to Matt that we need a headquarters here in Nashville. So what do you say? Let's fucking go. Beef initiative in Nashville, Tennessee. Right? Yeah. The Tennessee beef initiative out of Bitcoin Park in Nashville. That's what we're gonna do. This is this is the day, isn't it? Mean, that we get to announce to everybody that this is this is a node building, tour that I'm on right now, and I'm calling the Texas to Tennessee barn raising tour. When was the first time you reached out to me? Was that 3 weeks ago, 4 weeks ago? Yeah. Just about 3 or 4 weeks ago. You know? And I I needed to come with a lot of you know, I wanted to come with a lot of respect and everything because I didn't wanna shill on you. And I was like, man, we gotta have proof of work here. So, you know, Marty took a, you know, took a liking liking to, what I was doing early on, and then I told you, I guess, a couple weeks ago, I was like, it's time for you and I to talk, Matt. Yeah. Our our boy our boy, Marty, reached out to me. He's like,
[00:06:17] Unknown:
Slim says it's time. And I was like, I'm fucking ready. I remember, Slim called me, and we had a conversation. We, like, talked for, like, an hour, because when he gets going, you can't you can't stop him. And I got off the phone, and I turned to my wife, and I was just like,
[00:06:34] Unknown:
that was one of the best conversations I've ever had. We're gonna fucking do this thing. That I mean, that's what I like to hear, and that's why I don't like to, step up on anybody unless we're ready. And, you know, that's what Michael and I have had a lot of pains because I've been through a innovation cycle and technology before when I was younger. I'm I'm a little bit older than you guys. You know, I'm shill your bullshit to people because you get stepped on in the long run. So being a saying that I'm gonna call up Matt Odell and you saying that's one of the best conversations. I mean, that's what all this is about right now. I mean, we're out there changing people's lives, and we're out there making these kick ass relationships, these friendships, these brotherhoods, and then it comes with proof of work. It comes with respect. Yeah. I mean, I think that's what a lot of people miss because,
[00:07:26] Unknown:
you know, Bitcoin is is obviously a tech project. It's an open source code base. Mhmm. And people get stuck in the code, but ultimately, it's a movement of people. Right? And it comes down to people to actually use these tools, support each other, and work together to actually make any kind of real change.
[00:07:42] Unknown:
And that that with what I do within, you know, ranching itself and then agricultural. So you can't you can't be successful, you know, living a device screen life. You know, you can't do it. You have to and my motto was from day 1, let's go shake some ranchers hands. And that's same with Bitcoin. And what you've got is it done here in, Nashville. I mean, this collective of spirit that's that's basically built out this fascinating building that we're sitting in right now is about looking at people eye to eye, face to face, shaking hands, meeting people from all over the world And, you know, saying, hey, let's build this circular economy based on this, ethos.
[00:08:21] Unknown:
Let's fucking go. So, Michael, I mean, I know you've been, you know, heads down trying to build a Bitcoin circular economy. Where do you fall into this whole beef initiative mission? Yeah. So
[00:08:33] Unknown:
we, Slim and I got connected probably about 6 or 7 months ago. It was through Kyle Murphy. Yes. But, actually, my cofounder cofounder of Oshi, JP, he had been following Slim's, your your blog posts and everything. Yeah. The substack. Yeah. The substack. And he was, like, really interested, and he's like, hey, man. We need to reach out to this guy. We gotta reach out to this guy. We gotta get him, like, plugged into lightning and, like, get him, like, you know, we're creating Oshi, and it's like, we need some beef. Like, we Exactly. I gotta get this in because JP is, he's awesome. He's really into all the regenerative ag and, like, pure protein and all of that. Right?
And for me, personally, I had actually started reading some books. I got, like, shield, you know, different regenerative rags and, like, stop treating your soil like dirt. And, like, I I totally got, you know, ranch filled in a way. And I was kind of on the beginning stages of that journey. And then Kyle Murphy was like, hey. I got someone you need to talk to. Mhmm. And JP had reached out to you, like, the day before that too. We were finally, like, alright. Let's do this. So then, yeah, we we chatted. We had a long chat. And from there, it was literally like, alright. I'm doing proof of work. I see you're doing proof of work. Yeah. Let's move forward. Rolling. Like, let's let's branch out here. I mean, I was predominantly focused on small businesses, small, medium sized businesses.
I wasn't going out and shaking farmers' hands. And that's the beautiful thing about Bitcoin. It comes in from all different directions. And, you know, collectively, we we can all make this happen. I love the
[00:10:13] Unknown:
I love the phrase, shake your ranchers hand or shake your farmer's hand. Mhmm. It's it's infectious and viral. Like, as soon as you said to Marty, he wouldn't shut up about us every episode every time every conversation wasn't it didn't have to be recorded conversation. He just would always just drop it into like, just having a I'm like, oh, I'm going down to Florida. He's like, you're gonna shake your farmer's hand in Florida. Just throw it in there.
[00:10:35] Unknown:
It's funny. I I I remember there's a couple of phrases that I came up with, and it reminds me of my childhood in West Texas, you know, hanging out with farmers and ranchers. And if you did not know how to shake a farmer and ranchers hand, you got your ass kicked. And so and that's it is. It's very definitive because it teaches you that you have to look at people in the eyes, and you have to show some respect. You can't hide behind anything when you're talking to somebody like that. So, you know, I came up with harvest of deception, shake your ranchers hand, source of the seed. You know, why do you desire what you desire? And if you go through that sequence of phrases, they're all starting to stick in somebody's mind now, and it's it's kind of a jumping off point.
[00:11:16] Unknown:
Then then, you know, like, Marty Marty and I went down, so Slim introduced us to Cole. I don't remember exactly how that introduction happened or the whole way it happened, but then, we went down there, and and he shook his rancher's head. That was that was the first moment, I think. It was. That was the moment. And and it was cool. You know, Cole showed us around the ranch. I got him set up, with OpenNode at the time, to accept Bitcoin payments, and we paid in Bitcoin right then and there. Fuck. Yeah. I mean, like so it's kinda like this thing, like, Slim's doing the introduction. He's sending the signal, putting out the signal, and in what capacity has OSHA been helping. It's been more of, like, the tech side of things, like, trying to make sure that that expertise there Right. To make sure everything
[00:12:04] Unknown:
people get onboarded, people get going. And Well, this is what I was saying to, Slim the other day off air is it's it's a really powerful partnership because you have you have Bitcoiners on one side, and then you have ranches on the other side, And we're very much ideologically aligned, but we're very different, and we have very different skill sets. Right? And both sides want, they wish they had the skill sets of the other side. So it's truly a value for value relationship, right, where you have you have the ranchers on one side, you know, helping us learn, you know, real skills to not be just nerdy city boys. Right? And then you have us on the other side helping them onboard into this global this global economy that's independent of of corporations and governments. And the the mesh of the 2 is insanely powerful.
[00:12:56] Unknown:
That's what I saw in the very beginning. And that's how I was able to reflect on my childhood knowing that how a rancher thinks how a rancher has to operate within the system in which we've, you know, kind of evolved into one thing that and I think a lot of Bitcoiners are finding this out and use you saw it, especially with that statement right there. You had that moment of clarity that they they think in a decentralized way, they have to to survive. You know, that Bitcoin Ethos is already in their mindset. And so once we can learn how to bridge that gap, you know, in the beginning, that's what the beef initiative is. It's it's a bridge. It's a bridge into those 2 parties that are trying to be involved with each other. They don't quite know how to do it. So let's build that protocol that we can actually start understanding together, and we leverage each other's expertise, their heritage, legacy moving forward, innovation, technology stacks, You know, everything does come together, and it all goes basically down to the soil, down to the cow itself, the animal itself. And and here we are, and I didn't know where it was gonna go. I just said I was gonna buy a freaking cow with Bitcoin and, you know, and, you know, go take it across Texas and share it with my friends. And this is, you know, and this is where we are right now. So we've right now, you know, we're selling beef through freaking beef initiative with Bitcoin.
We have proof of work, and and, you know, what's cool about this is Cole yesterday, on air, he says, man, I've traded beef for a full Bitcoin. He's a full Bitcoiner now.
[00:14:26] Unknown:
Whole coiner.
[00:14:27] Unknown:
Whole coiner. Ryan, I wanna pull you into this conversation. So how did you get how did you get connected with Slim? How what's what's your story?
[00:14:35] Unknown:
So I, I was recapping this the other day. I, it was January 8th. Curry went on Rogan and name dropped him. And I I was in the middle of a week. I had taken a week off my job. I'm a sales manager at a car dealership. And I I had taken a week off for me and my wife to see if we could feed our family, without grocery stores. You know? So we we were coming out I I got 2 kids. I was just hyper aware all of a sudden. My responsibility didn't end at the grocery store. You know? So I I took this week off. I was, like, driving around our rural community. I I live very city life in a rural community and realize how hard it was. You know, there's lots of signs with eggs for sale, but without that relationship there, when do you stop and get the eggs? They're not home. They've got a day job. Whatever that is, you end up with no eggs, or or you end up at Dollar General, which is Right. Usually what happens.
So I I reached out out out of, trying out at the time, I was kinda scrambling to build a a little supply chain for my family. I I kind of established this milk route between me and a dairy farmer. And so I was I was running twice a week, illegally delivering raw milk, to, outlaws to yeah. Milks money. To, to my family and friends, I was kinda using You got Jason Bourne over here. Yeah. I, thankfully, in Missouri, we have some very promising laws that protect, for the most part, our our consumption of of raw farm products, but it is a bit of a gray area.
So overcoming that was what we had been focused on, me, my wife, some friends of mine, and and building out sort of a delivery model for local goods because farmers and ranchers are busy. And, you know, it needs to be convenient or or it wasn't gonna work for me. And so I I reached out and and talked, and, he I I said, I think I'm gonna steal your brand and start the Missouri beef initiative. And he said, go for it. And we whipped up a website, a very, very rudimentary website, planned an event for May 1st, and we just threw all of our, like, local energy at at trying to build an intelligence network. You were talking about thing sayings you came up with. Ours was food intelligence. You know, I I love the I'm not farmer. Food intelligence is strong. I can I can build an intelligence network, though? And that's where this that's where it started for us, and we're rocking and rolling. So not a farmer, not a Bitcoiner?
Bitcoiner? I came into this as a Maxi. Oh, let's fucking go. Yeah. Came in as a maxi. Bitcoin led me to truth. Truth showed me the deception, and the deception freaked me the fuck out. Well, feel that I was I was scared about how I was gonna feed my family. I'm not scared now. I've got a local supply chain bill. It's empowering.
[00:17:43] Unknown:
Proof of work. Amen.
[00:17:45] Unknown:
Carlinho, how you feeling over there?
[00:17:49] Unknown:
Good, man. I I, I live a city life in I live in Guatemala City. It's a major metropolis in Central America, and I'm very disconnected from my food sources. And, I want to contribute to to reducing the deception, you know. And so I hope that the technology we're building at Ibex is is helpful for that. And I'm particularly passionate about the education piece and and how you maybe right now, Bitcoiners have, skills that ranchers don't. But I'd put money on if we do, certain things right within a generation, that's no longer the case. Right. The Bitcoin Bitcoiners better get their shit together because So we gotta get all the information for the ranchers before they get the Bitcoin information. Yeah. It's a lot easier to learn how to be a Bitcoiner than to learn how to be a rancher. I'd wager. Don't tell them that.
[00:18:42] Unknown:
So, So, Carlene, you know, 1st and foremost, I'm I'm assuming you haven't shook your rancher's hand yet. I have not. Wait. That's you gotta get that done first. I gotta yeah. I gotta do that. So let's talk a little bit about your education experience in San Salvador. I mean, you guys are doing a proper Bitcoin, course and diploma over there. What have you learned? You know, what has worked? What hasn't worked?
[00:19:04] Unknown:
So we're still learning. We're on week 8, I believe, this Saturday of the first deployment of the Bitcoin diploma, which is our contribution to and, the first high school education curricula that I know of, which is in use in a public school in, Salvador, in this, community called San Marcos, which is a satellite community that feeds into, San Salvador. And so our kids are between the ages of 16 19. We're starting with the 1st class of about 50, and the curriculum we built is a 9 week class with a 10 week, pass, try again exam.
And so it's very skills based. And I think the doing it in a pass, try again kind of, format. The more I think about it, I'm a swimmer. I love to swim, and I think I I consistently think of of Bitcoin as, like, learning how to swim. It's if if you had to do an exam with a teenager as to whether or not they knew how to swim, it'd be pretty, you know, pass fail kind of proof of work shows real quick. And it's like you just check the kid in the pool and very quickly you'll realize whether or not he needs help. Right? And I think that if we if we boil Bitcoin down to to the essentials, maybe it can be like that.
And it boggles my mind how we have built a global education industry that doesn't teach high schoolers how to swim, for example. That's not required. Seems like a pretty relevant skill if one day it could save your life,
[00:20:44] Unknown:
and I could It doesn't make you a good citizen. Well
[00:20:48] Unknown:
It doesn't make you a good subject. Yeah. It
[00:20:51] Unknown:
but but it will keep you from dying that one time when you really needed it, And and I think Bitcoin is the same way. You might be able to live your life without knowing how to Bitcoin, but that one time, might be the difference between, life and death. And so, just like swimming, it's the kind of thing where you just need to work at it, and maybe some people will not be able to do it, but that's a very small percentage of folks. And if you fail, you can just, you know, keep at it. So that's that's what we're we're we're focusing on. And hopefully, the the example that, we learned from in in the Cerro del Norte will give us, you know, the base to to to launch it, in a in a much more global way, so that anyone, particularly young young kids, can just pick it pick it right up.
[00:21:43] Unknown:
That's freaking awesome. That's amazing. Yeah. I love the I love the edge the education part of it. I mean, we've talked to Matt, you know, I keep on talking in the usually, we're ending our sentences with education. Always. It always comes down to the education. It is. And people kinda look at education as, you know, it's a pain in the ass, but, actually, education into, you know, to cow pilling and to Bitcoining. You know? It it's a fascinating I like ranchpilling better than cowpilling. Well, you know, that that is a Yeah. That's what happened yesterday on the reporting with Cole and Jason And, you know, coming from the ranchers themselves. Say, like, cow pilling? They like cow pilling. It sounds like I'm drugging cows. I know. The cow wasn't watching his drink, so I like to put something What we're gonna do, our we're starting it right here. We're starting it right here. We're gonna have a we're gonna have a contest. Is it gonna be ranch filling, or is it gonna be cow pilling? Well, the market will decide. Yeah. Exactly. Is gonna win that one. Yeah. I hate to I like ranch pilling. You know, Cole said cowpilling, but I think, you know, he's he's just been too busy right now because he's opened up a processing center. So he's he's definitely, you know, learning how to capill, in a different way. So, we'll see if it's ranchpilling or capill. But, anyways, going back to the, you know, the education side of all of this, what we're gonna you know, the most important thing is I tell everybody this is a lifestyle within the beef initiative because you're getting closer to the source of your seed of nutrition, and it's something that's based on heritage, tradition, and all kinds of different legacies that have come before us. We get to leverage that, and we get to kind of project it into the future and be the modern day rancher. And the rancher modern day rancher gets to ranch pill, cow pill, you know, everybody else. There's a there's a symbiotic educational series that are going on here that is a 100% natural.
And in what it is, it's based on, you know, proof of work. It's based on, like, the swimming. That's experiential training is what that is. And we had to bring that to Bitcoin. We had to bring it to the ranchers, and how we do that is it seems like it's a free flowing, you know, apparatus that we're developing here.
[00:23:50] Unknown:
Yeah. I would say it's critically important, obviously, the education, and then I think sometimes we forget whenever we talk about education. Oftentimes, we just think about, like, speaking, you know, talking at someone. Yeah. We're really good at that in Bitcoin, for sure, like, we are really good at that. Like Shout out to Bitcoin Twitter. Yeah. Shout out to Bitcoin. Like, we will never shut up about Bitcoin, but I think we forget like, in kindergarten, it's show and tell. You know? That's also how you educate people so you gotta show them. Like, you have to be like, hey. Look. Let me send you, like, 10 sat whatever. It doesn't matter. Things like that, I have noticed, you know, in talking with business owners and talking with their staff, it it makes it so much more simplified for them. Like, it's real. Mhmm. And they're like, oh, I can Yeah. There's almost like a laziness that has has swooped into Bitcoin a little bit where it's
[00:24:42] Unknown:
in the early days of Bitcoin, it was always, okay. Let me send you your first stats. You know, let's play around with the wallet. Get comfortable with it. Now it's more it's like, oh, go to this website and deal with it yourself. Right? Rather than hold their hand for the beginning, at least for friends, family, people that are in your local community, like person to person is insanely powerful. And it just makes people so much more comfortable because because they're not just looking at, like, a faceless website.
[00:25:08] Unknown:
Yeah. Insanely powerful. I mean and and maybe it's because maybe people in general have just become a bit more lazy. And I'm not talking about, like, the Bitcoin community. I'm also talking about the people who we are
[00:25:20] Unknown:
trying to shill this to. Yeah. I mean, we were talking about this yesterday, just like our society has bred this lack of personal responsibility. And, you know, Bitcoin is all about personal responsibility. That's and so it's a sea change of a concept in your head, but that is something that ranchers already get. They already have to live a personal responsibility of life. So I think there's a it's an easier job connect with them. And then to combine that with, you know, shaking your ranchers hand. There's also just, you know, people have gotten less social or less confident. I don't know. Like, the idea of, like before I heard the shaker rancher's hand, the the one I liked was firm handshakes. Mhmm. You know, firm handshakes is a meme. And a lot of people don't, you know, give firm handshakes. They don't look you in the eye. And it's a symptom of the societal issues that have compounded over and over. And you basically everyone needs to get rewired to this personal responsibility, to this, you know, personal connection kind of situation, and that's not gonna be an easy process. Like, that will take time. No. And and it brings up a good point. Whenever I was in technology in Austin, you know, I was work I was doing some work for telecommunications.
[00:26:27] Unknown:
Our company had gotten bought out by telecommunications, and I got, basically assigned to do a project. It was it was during time that, we're having more devices in everybody's hands, And one thing that I was, decided to do was, write a research paper on the division of interpersonal communication skills. And that that was about in 2004, I believe. And since then, you know, we're we're close to whatever, 20 years. But what that has done is led me to remember back in those days and how we used to shake people's hands and how we looked at each other's in the eye. Our society has been socially engineered to be, divided in certain ways.
And with the devices in our hands, the screens that we look at the the division of actually being able to have a really good conversation has been hijacked. And in in to be able to do that hardwiring, rewiring, that reset, the best way to do it is going out there and shaking a damn rangers hand. I mean, it but people I wonder how many times we're gonna say that. Well, we're gonna yeah. It's trademarked, I guess, now. But, what we have to remember is, like, you asked somebody, there's an intimidation factor there. You know, and if you can overcome the intimidation factor and kinda stand on your 2 feet with some freaking confidence and, you know, grow some balls and go out there and make some new relationships, All it's gonna do is better your life. It's gonna educate you, and you're gonna go down a freaking, a road map that's only gonna make your life better.
And us, Bitcoiners, have to take that freaking responsibility. I mean, it is about accountability. It is a sense of intentionality that has some agency to it right now. Because if you're in Bitcoin and you really think that, you know, no matter how good of a Bitcoiner you are, how educated you are, if you're leaving out food, market access, and how you're gonna get market access to feeding yourself and your family, and you're not bringing food into the conversation, guess what? You're gonna get left behind, and this isn't gonna start playing out. And, that's what I think people are starting to see, especially in the Bitcoin community.
And I was talking to Cole with, KNC Capital yesterday. And last week, he came up to me and he goes he goes, Slim. I said, I have to give you something. He goes, you're in genius for doing and starting with the Bitcoin community. He goes, I didn't understand in the beginning why you did this. Stay humble, Slim. Yeah. I am, and I'm about to say it. He and he said, how did you do that? And I said, man, I just I just know how much that you guys needed a voice. And the the the best voice that we can give are these guys in the Bitcoin community because what they believe in is truth and honesty and proof of work, and that's exactly what you are. And so that's you know, it was something that was very it was a compliment coming from a rancher, and that meant the world to me. I mean, it it that means a lot. Whenever you have a rancher that's got your back, you know you're eating, you know that they're tough as shit. You know that if you need work done, if you need to network, if you need something, all you gotta do is make that phone call. You you you hook up with them, and here you go. You off you're off to another
[00:29:32] Unknown:
stage of proof of work that whatever you need to take care of. Yeah. And and literally, like, people just need to this is what I do. I spend a lot of my time talking with business owners about how they can accept Bitcoin or why should they should accept Bitcoin and just showing them. You know, we spend a lot of time on the product side of things, but it's really just learning, like, how we can kinda break through and get get to these ranchers or small business owners or whatever it may be. The tools are there. And like you're saying, like, people love talking about Bitcoin. I mean, people love bashing people on Twitter. Like, it's fun, you you know, whenever they say something off the wall about Bitcoin.
But, like, that needs to make its way out. But, you know, just show a little grace, though, because most of these people, what I'm what I'm finding out is they are completely ignorant. Yeah. What's going on outside of Bitcoin or outside of Bitcoin, Twitter? Like, no one knows what's going on with Bitcoin. I I talked to a guy the other day. He was like, yeah. What I you know, I almost bought some back in, like, 2009. I mean, you know, they always have this story. It's the same story. And and and, and he was like, what's what is it at now? Like, $1,000 or something?
And I'm like, no. No. It's not. It's, 30,000. And he's like, what? No way. Really? I mean, people, they have businesses to run. They're busy. Like, they don't have time to pay attention to this like we do. But what's really interesting is now and and I think it's has a lot to do with beef initiative too. It's like people are literally going out to their farmers markets. They're going, hey, Michael. Like, hey. Or they're probably talking to you, and then maybe you send them to me. Like, hey. I got this. I I got this guy that wants to sell beef or this or that or eggs or whatever. And, how do I get them set up with Bitcoin? And I'm like, I got you. Like, I'll get it set up. I recommend Ibex, like first and foremost, like, thank you. Hands down. Yes. By the way, just like, you know, a totally, like, honest, honest plug there.
And yeah. So that's just something that that I I highly recommend.
[00:31:34] Unknown:
Get out there. Yeah. And, the one of the you you mentioned the social engineering about how to, keep people from having honest conversations. Mhmm. I think one of the the main tools that at least the financial system has used is the idea of complexity and, like, talking down especially to to folks, that haven't had access to to, you know, higher quality education, of, you know, you you can't understand this. Like, this is this is beyond your grasp. This is this this idea of finance is is something that's only reserved for for the elites essentially. And that's where the importance of just dispelling that complexity and saying, make, you know, make sure shake your answers hand and hopefully, take take the opportunity to show them that they can just write down 12 words and protect their value and and and their family's, patrimony and build generational wealth.
Just doing that, so that you're not you're not talking about, you know, don't go into the the complexity of of how the financial system works and and and all that. Just, you know, let me just show you a skill. This is this is like riding a bike. This is like learning how to swim. Like every single person in the planet can do this. You don't even what we're finding with with teenagers, you don't need to know English. I mean, it'd be awesome if we could start getting, you know, more access to to other language, you know, tools, but you can you can do this.
And and there's like, like, I was saying earlier, there's actually a much higher threshold, of of or barrier to entry for Bitcoiners to become renters than there is for renters to become Bitcoiners, you know. So so shake that hand and and and try to bring them along and just cross that chasm that's that's really just, you know, a mental barrier that's been built up by this engineering. And it's it's just one one person at a time. Yeah.
[00:33:27] Unknown:
And another important thing remember is when you go out and you shake a ranchers hand, you're offering a relationship, an economy. That's what we're that's what we're talking about. We're talking about building our own economy because of fiat the fiat one's collapsing. And so if we're gonna do that, you know, it's not you you go shake your farmer's hand, and then you go shake it again, and you go shake it again, and you start buying your groceries from that farmer. You know, eventually, that's what we're talking about. Right? You're building rapport. You're building a relationship, and and eventually I mean, the idea is you're you're not you're not gonna be orange peeling ranchers. You're going to be one half of an account, a ranching economy, a farming economy in your local jurisdiction. And when that happens, you you you are the customer. You're the client of choice.
Of course, they're gonna accept Bitcoin. They're gonna accept whatever you wanna compensate them with because you I'm gonna tell you a secret. You drive down the road and see, signs that say eggs for 2.50. It costs more than 2.50 to produce those eggs. Those people don't have that sign out there because they're trying to make make money. They they want to sell eggs. They want you to come. They want to participate in this economy. Let's build it for.
[00:34:56] Unknown:
Brian, I love the passion. But every time you tap the table, everyone's ears are hearing that.
[00:35:02] Unknown:
Thank you.
[00:35:04] Unknown:
And, like, real quick, going back to the education. And and, you know, Bitcoiners are really good at explaining what Bitcoin is, generally speaking, but I've come to find out that they're actually really bad at saying, here's how you actually get set up. Because, personally, what I think, I think there's a bit of apprehension. If they go into a place and they say, hey. Do you wanna accept Bitcoin, or do you accept Bitcoin? Can I pay with Bitcoin? What if they say yes? Yes. We would love to. We just don't know how. What I'm finding, like, by just talking to a lot of very wholesome amazing Bitcoiners is like, they don't know what to do. Mhmm. They'll go, oh, you, download, you download like, you can do blue wallet or, like, Moon Wallet and Moon Wallet for, like, a farmer's market or The 2 years. That's amazing. Moon Wallet's great. But if, like, if you have a business like, you're walking to some coffee shop, you have employees, and you have this other there's other, like, needs.
And so I just think that this, like, wave that's coming right now, this momentum that's being built, and I'm seeing it. Maybe this is, like, Bitcoin circular economy Twitter. Mean, it's, like, another sect of Twitter. Yeah. You're in a little bubble. Yeah. I'm in a little bubble. I'm in a bubble with you. But But I'm seeing it. Like, I'm seeing people, like, say, hey. Like, I wanna accept Bitcoin. How do I do it in, like, crickets? Like, no nobody and it's like So we have,
[00:36:26] Unknown:
obviously, Oshi has has been instrumental in at least in the American circular economy momentum that we see happening. Like, you download the Oce app, and all of a sudden, you have that nice map. I mean, I'm against giving location permissions. You don't have to, but if you want to, you get the little blue dot. Me and Michael have talked about how people like the little blue dot showing where they are and where you can spend Bitcoin. We have our boy, Pedro, in the chat, on the matrix chat, and I worked with him through Bitcoin Magazine because we had, for the big conference in Miami, a big aspect was trying to really highlight Bitcoin as a circular economy tool, and there was this Bitcoin Bazaar, And we created a one pager on how to how to onboard, you know, just the straight steps, and was using Moon Wallet with 2Us, like, how to how to start accepting Bitcoin without trusted third party or minimize trusted third party.
And then he took that, and he made a whole flyer that you can hand out you can print and you can hand out at farmers markets, because farmers markets seem like a very ideal place to start here. And that is available at bitcoin for local business .com. So you go there. It's all open source. You can make your own changes. They have it translated in multiple languages through different contributors that have done it. I know Pedro speaks, Spanish, so I think he did the Spanish translation, but I'm pretty sure there's other translations there. But bitcoin for local business.com, you go there, download the pamphlet, go to your local farmer's market, obviously, shake everybody's hand, and, hand them that pamphlet. And you don't have to really be too I think people are, a lot of times, too pushy. They are. You know? Just most people that come into Bitcoin, the first touch, they're not interested.
[00:38:09] Unknown:
It's usually the second, 3rd touch. So you're just setting, you know, you're just setting some expectations. You're just letting them know that it exists, that it's an option. If they need that option, then they can go seek it out. What I've found, and this has been a kind of a sequence of events that, you know, I've evolved into and because I get asked 10 times a day, it's like, how do you how do you go about, you know, orange filling a rancher? And what I found out is that this is this is the doctor around here. This is how you do this. You go up to a rancher, you shake his hand or her hand, and you say, hey, educate me, teach me why you do what you do. I wanna know more. Please let me understand what is it that makes you so special in something that is actually so powerful for, you know, all this heritage that you bring to us and, you know, the food supplies that you create for so many families.
Once you you that you allow them to educate you first, If you have a rancher that's solid within what they do, their protocol is basically stewarding the land and the cattle themselves, the animal themselves. They're gonna be very proud about what they're gonna say. They're gonna be very humble, of course, but they are. They're gonna educate you because they put 247, 365. That's all they do. They're up at 4 o'clock in the morning. They stay up till 11, 12 o'clock at night, and they do it all over again. They don't ask for a lot of fanfare. So once you find a rancher that will speak to you and educate you, guess what? All that conversation leads into decentralization of thought, and then it all leads into Bitcoin. You don't have to talk about Bitcoin.
They start talking about Bitcoin in their own way, then that's how you approach Bitcoin. You never have to go up to a rancher and say, hey, do you accept Bitcoin? That is the worst thing that you can do. And it's not it's not anything. It's just we're learning as we're going. And if you can take that approach, it's it's kind of a a very good social engineering way to bring a lot of positivity to their lives to where they go, holy shit. Now I understand why you're shilling me this damn Bitcoin because you know what? They've been living this way forever. And I always tell everybody moving forward from here, we were gonna have a a legacy rancher that's been doing this for 4 decades. He's gonna understand Bitcoin, and he's gonna innovate Bitcoin more than a lot of Bitcoiners are. And once we can understand and untap and un un uncover all of that hidden food intelligence that these ranchers bring to the table, they're gonna innovate even more moving forward within the beef initiative.
And that's exciting because you look at, you know, Cobalt, you look at Jason Rick out at Rick Ranches in Colorado. I mean, these guys are innovating with the soil, and they're already innovating within the Bitcoin itself, because they're leveraging Bitcoin in 2 different ways, 2 different ranchers. But they're how they're accessing and how they're obtaining Bitcoin, how they're leveraging Bitcoin. One's a VP of a bank. The other one is a 1st generational rancher. But guess what? Now they have customers that they're gonna have forever, basically, in the regional communities.
And I always tell everybody, if you have a rancher and you're not sending them Christmas cards every year, then you don't know that rancher well enough. And and as Ryan was saying, you know, it's that intimate type of relationship that basically, what is that bridge? What is that bond? Well, it's the decentralized thought. It's the decentralized respect. It's it's basically having that, you know, that that protocol
[00:41:34] Unknown:
of both the ranching and and Bitcoin itself. Let me slim. You brought this up. I'm kinda curious on your opinion. Is it alright to send a Christmas card 2 months late? Because usually me and my wife, we we have we have the desire to but it always comes late. Like we owe it. We always send them out way late.
[00:41:53] Unknown:
Well, it depends on what you say on the card. Right? I I guess that's a merry Christmas in February. Yeah. Exactly. If you send it 2 months later, the price of Bitcoin has gone up dramatically. He said buy Bitcoin. There you go. Depends on, you know really bad about that. I mean, we started this card 2 months ago. We just forgot to send it. But don't send a don't send a rancher a a NFT of a cow. How's that No. No. Christmas card. We would never do that. No. Just a a late Christmas card. That's all. That's all that matters. And that's like, there's so much confusion around. I mean, I've had business owners, like, well, do you also do, like, Doge? I'm like, no. But I don't have to they're just genuinely curious.
[00:42:34] Unknown:
Mhmm. Like, they just don't know. And that's totally fair and reasonable. Like like I said, the Let me give a comparison right here. Okay. Most ranchers, of course, now, you know, farmers, ranchers, they have a phone. Right? Okay. They they carry it around. Sometimes they're taking a picture Some of them might be, you know, freaking cattle report on AM radio. Some of them might be doing a pot they don't have the amount of time that a lot of us in this centralized world that we're still maneuvering around. The it's a different world until you know that world and can respect that world. That's whenever you understand how you can communicate, what you're trying to communicate, and what you're trying to educate.
And and once you can kinda understand that there is people there are people out there that are living in the past because they have to. They have to be detached from all this noise because they have so much that they're accomplishing every day to where if they went in there and they did amount of research we all have done in the Bitcoin space, they wouldn't be ranchers right now. So once again, that's our that's our ownership, that's our obligation, and our privilege to be able to go out there and communicate to them in the right way. And as far as moving forward, what Michael and I have done right now, and this has been, like, the last 6 or 7 months, How do you onboard? How do you do this? And it's been a tough battle because what we have to do now is Michael's designed a referral code.
And what it is, it's gonna be something that, you know, within Oshi, I'll be able to share link to anybody right now, and they can take this referral code that I'm gonna launch tonight after we get done with here at, at at the new Bitcoin Park is that anybody across the freaking nation now can take this referral code from the OXi app that Michael has designed and engineered, and they can go out there and do exactly what we've been talking about. And as far as how mine is kinda set up, it it's my profile. It's it's it's Texas Slim. And what people need to understand exactly what they see tonight is exactly what they can do for themselves. They can brand themselves, so they can go out there and help the the rancher
[00:44:53] Unknown:
save their brand as who they are. So, I mean, me and Michael have gone back and forth on this. Historically, I've been very anti RefLink.
[00:45:01] Unknown:
Mhmm.
[00:45:03] Unknown:
It's it I mean, particularly in the the grander crypto industry, it's usually used to encourage the shilling of of bad projects. Mhmm. You see, like, the influencer types on Twitter will just any if anyone gives them a ref link, like, that's their favorite exchange, or that's their favorite project, or that's their favorite, whatever the fuck they're showing. Michael has convinced me that there's positive elements to RefLink. The only RefLink I've ever shield was my Oshii RefLink. I did feel a little dirty afterwards, but that was an accomplishment on his part. Michael, you wanna talk a little bit about because we were talking off air about people not wanting to spend Bitcoin and that these different incentives. I mean, you have Sats back. You have the, like, how they are actually kind of building this momentum and and pushing us forward?
[00:45:56] Unknown:
Yeah. So I guess first, I'll just talk about the ref link in the in the from the perspective where Slim is coming from. So right now, we're basically like, hey. If you don't know how to get businesses set up to accept Bitcoin like, I've been doing this a long time. I've played around with all the tools. Like, I know the tools. Oh, if you're an ecom business, sorry, use this. If you're just a small mom and pop shop, you know, use Moon. Like, if you if you're literally at a farmer's market and if the business is open, you're there. And if it's closed, you're not, like or sorry. If you are there, it's open. If you are not there, it is closed. Like, you run the show. Yeah. You use move. Like, there's all these different tools.
[00:46:35] Unknown:
But always on versus not always on versus Yeah. Yeah. You know? So
[00:46:39] Unknown:
a lot of people don't know that, and I guess, you know, they've been a little too humble. Like, I didn't realize that a lot of people didn't know that. So what we started doing is we're like, hey. Just just give them this link. They're gonna fill out a little form, and we're gonna contact them, and we're gonna hold their hand. We'll do it for free. If they get on Oshi and they wanna promote their business on Oshi, Oshi is just a tool for that. We're gonna get them set up. We get a bunch of businesses set up with Ibex because that is, like, the best tool for the majority of, like, mom and pop shop businesses that we've found. If they get on Oshi, great. If they don't, cool. I just got a business set up.
And and maybe whenever they're ready, they'll wanna promote that they accept Bitcoin. Right? And so in which case, you know, if they get on Oshi and you give them that ref link, like, that that email is is gonna be connected to you as an individual. So if that business starts selling stuff on Oshi, you're gonna get a commission off of that. So we're just trying not to incentivize people to shill Oshi, but to incentivize people to to shill Bitcoin and get businesses to accepting Bitcoin. Right? And then, you know, from there, you know, it's all about the incentives, I think. I mean, the credit card industry, 2010, there was only 5% of of people, like online commerce, which is what kind of the majority of those those payment methods were for that early on. There's only 5% in 2010.
So the credit card companies were like, we gotta pump these numbers up.
[00:48:11] Unknown:
Like, so they started So you're saying 5% of what global or American transactions are So in the US cards? In the US, in 2010,
[00:48:19] Unknown:
only 5% of retail commerce transactions were done online. And I would say, like, you know, the 2000s, like, 2,000, 2010 majority I mean, I feel like majority of people were using the the credit cards for online commerce. Like, we started seeing Amazon, like, boom. Because you can't pay with cash online, period. Right. Yeah. And so it was just 5% of sales, though. But, you know, back in 2010, now it's about 15, which still isn't very high. So it just You think it was higher? Yeah. You think it was I mean, people are still using their cards everywhere.
Right. We see businesses going cashless, card only. Right. Right. But it's not like an actual online transaction. So the thing that how I view it, you know, these these cards had to incentivize individuals to, like, drop the cash and basically make sure that Visa and Mastercard and card issuers and payment processors got a cut out of every single transaction everywhere. Not the 5%, but they they wanna get that 95%. They wanna get the rest. So they they use incentives. They you swipe your card, you get 1% back. You get maybe you get 2% back. Maybe if you get 10 cards and and and you pay it off every month and you spend 300 on this card this month and, you know, a 1,000 on this card this month, we'll give you an extra $100.
Like, they trained us because, I mean, whenever the cards first came out, the experience wasn't very good. It is now. It's pretty damn good now, but it's very costly too. It's costly for the business, and the consumer is just paying more and getting a little sliver back in rewards. With Lightning, what we have the option to do is to use that same incentive structure to, like, weaponize Bitcoin evangelism. Like, we can say, hey. Look. Get this farmer on. I mean, in theory, like, instead of you know, you can get a little bit of that cut set of Visa. You can keep it local. You can keep everything local. Right? So that's just that's just kinda how I view it. We have to do incentives. People don't wanna spend their Bitcoin. And if they have their debit card, it's getting 1% back. And it's bare minimum. You have to hit that 1% threshold. Yeah. Yeah. And, you know, I think, personally, I think it's gonna have to be higher right now.
People that are always using their cards, they're probably not gonna, like, just start using Bitcoin if they get 1% back. But, fortunately, businesses are always running promotions of some sort and instead of doing a discount. I mean, you've been pretty aggressive with it. I've seen some businesses give, like, 50% sats back. They were aggressive. That's just what they wanted to do. That's up to the individual business. Yeah. Yeah. It's not me. No. It's them. I mean, occasionally, we'll do something special. That's a flip of the script. Right? Because, like, card companies, it's always the it's top down. The card company picks what your rewards are. So and, again, it's almost like no. No. Don't worry, though. Like, these business owners can give you, like, coffee points and square stars and all this bullshit that no one wants. Right? And they lock the businesses out of that. Right? It's it's top down currently, but we can do this bottom up. These businesses wanna run promotions. I go to a business.
They do, like if you spend, like, I guess, $50, they'll give you $5, like, in their own credit. That's 10%. Right. Visa's not giving 10% on shit. Not at this small business. Right? They wanna do that. Lightning can empower them and give them the option to do that. Right? So Oshi is just a tool to help usher that along. We're not the payment provider. If they wanna use BTCPay,
[00:51:38] Unknown:
use BTCPay. I think that's what's cool about OSHIs that you basically give the merchant an option of how they want to accept Bitcoin. Yeah. And strictly speaking, between, like, a sovereign way of accepting Bitcoin versus a hosted way of accepting Bitcoin. Whatever they wanna do. And, ultimately, I And there's no conflict there. It's not like you're Right. Like, I'm I'm not like a competitor with or OpenNode or BDC. But, like, I'm helping
[00:52:02] Unknown:
merchants realize the positive aspects of accepting Bitcoin whether or not they actually wanna hold it. Like, at least they can start accepting it. Maybe they hold a little bit on their balance sheet. Most of them just hold all of it because it's a small percentage of sales right now. But then they can go and shield their customers because if they accept a Bitcoin payment, that's cheaper for them.
[00:52:24] Unknown:
Right. They're already saving, like, 3 to 5%. Yeah. So it's You might as well pass that on to the customer. Yeah. They have a financial incentive
[00:52:31] Unknown:
to start shilling Bitcoin to their customers. And that again, that's something I don't think people understand. Like, we're so good at shilling amongst ourselves. Mhmm. But get the business owners, get the rancher at the farmer's market to be like, hey. If you pay me in Bitcoin, it's like the cash discount, except it's a Bitcoin discount now. Right? Because cash is trash. Like, they do that's a Cash is king. Opportunity. Cash is king.
[00:52:56] Unknown:
But yeah. So Well, let's give an example of that. Let's talk about Cole again there in, Austin as far as okay. He's he's orange field. He's accepting Bitcoin for beef. Right? Well, he he actually, he, he supplies to restaurants in the Austin region. How many restaurants are now that buying beef from Cobalt and from K&C cattle, and they're buying beef basically not yet. We're getting closer to where those restaurants are gonna start purchasing beef from coal with Bitcoin as well. Then once that happens through the Ocea app, you can see that this restaurant is basically, on the Ocea app. They're buying their beef from coal, and so the Bitcoiners are gonna gravitate to that restaurant. So you have 3 touch points there that they're trading the circular economy within each other. That's what this is how this is moving forward.
At where Ryan is in Missouri, you have you have the hay farmer, you have the hay producer, that hay producer is selling to the Mennonites. Mennonites are using it to throw their produce and their animals, and then they're selling that produce and animals to the local retail restaurant. Once again, we get them all basically connected, doing it through Bitcoin to this decentralized economy, circular economy.
[00:54:05] Unknown:
It's a no brainer. I guess the last piece that's missing there is is the rancher being able to buy his supplies in Bitcoin. Exactly. Feed stores.
[00:54:13] Unknown:
What was that? Feed stores. Feed stores. And we're we're working. Actually, Ryan's got a connection with somebody that's pretty deep into the feed stores, you know, and he's opening a processing plant there in Farmington, Saint Francis County. And we we just met him. What was that the day before yesterday, 2 days ago? Yeah. Monday. And, this is starting to transpire. That's what's you know, I told you guys last night at dinner of that little what's going on in this county in Missouri. It's going on everywhere. We're at the cusp of this, and, that's what's exciting. And once we get the visual on people's heads about market access and how market access works from from the ground up to retail to wholesale to wholesale to retail to consumer, Market access is something that is never talked about enough in in how they're actually attacking market access to animal protein and just food in general right now, this is the best defense that anybody could hope for as far as being the the producer or the consumer or the retailer.
[00:55:17] Unknown:
I'm just curious. What do you tell folks that, are afraid of the volatility?
[00:55:21] Unknown:
I tell them that Apple's volatile. I tell them that Amazon crashed, 8 times, and they lost over 80% of their value. Everything's volatile whenever you're going through innovation. It's it's basically understanding, you know, in detaching, you know, let's detach from Wall Street, right? And understand what, you know, Bitcoin really is. It's that store of value that they don't understand, but their grandfather understood it. The store of value of a cow was, used to be in the land or it used to be in the cow. You know? And then, you know what the store, the value, and most of, a lot of ranchers across United States is right now, it's in the USDA insurance policy.
So at the end of the year, they're they're having to file a insurance policy because they didn't break even. That's volatile. You know, a drought is volatile. You know, our money in hyperinflation, that's volatile. Bitcoin is not volatile. It's a store of value that basically, if you have the time preference, the patience, and the education, you're not gonna call it volatile.
[00:56:23] Unknown:
Yeah. And and for businesses that are only accepting just a a very, very small percentage of their sales in Bitcoin
[00:56:30] Unknown:
Yeah. Like, you know Well, look at Cole. I mean, he, you know, he he has the right to not tell how much that he's but he's accepting Bitcoin. So all these Bitcoiners have been buying beef from him, which is fantastic. Well, okay. He's he just announced yesterday, he's already got a full coin. Okay. Well, if he only wanted to go in and do that 2.7% credit card fee, then that's fine. And and that's his, you know, he's he has that capability and the opportunity to do that. He's not given that 2.7 to the credit card companies. If that's their foot in the door as far as learning how to operate within it, then that's who you start with. And that's the the mentality and the the wherever they are within their understanding.
So there's so many different ways if it's 10%, if it's 50%, percent, you know, these ranchers have to keep on building a business, but leveraging that percentage that they can decide for themselves instead instead of somebody like the USDA insurance policy. Carlene, how do you see the volatility question? Well, this,
[00:57:30] Unknown:
so hopefully, we will get to the point where it's not a small percentage. Right? And so then at that point, it's not just about, a portion of your income that you're dedicating to store value and you're able to to effectively save for, you know, build generation wealth or whatever your objective is in in in the long term. But so in in the short term, if if those if that amount of of your income is does start to increase, if your expenses are in in in dollars, then you do need some kind of exit or or conversion service. Right? So I'm I'm just wondering how you see that play out for us in in in Salvador, what ended up happening and and what the pushback we got from folks is, you know, we need to be able to turn this into dollars into our bank account as quickly as possible because that's that's what I use. You know, I use my checking account. I use, you know, cash. And if it's in my bank account, then I can use it. Right? And Visa is offering me that. Right? My relationship with Visa is, I'll I'll get a you know, I'll I'll keep my deposit slips and, you know, collect all all the payments that I got, and then I'll have the money in my bank account within 5 business days. Give or take. Right?
We we we try to beat that so that it's it's at most 2 business days, but that's what they're used to. Right? And so it's offering that choice of being able to choose how much of the transaction that's, you know, what you can get through Ivex at least in Salvador and and then in Florida at the moment in the United States, choose how much of that income gets split into Bitcoin verse versus dollars, and it's cheaper. You still get more you keep more of that value if you keep a 100% of the Bitcoin. Right? We we charge 0.7%, to to facilitate that and enable you to have as many people as you want receiving payments.
But when it does get to a point where a significant chunk of your income is in Bitcoin, but most of your expenses are in dollars, you need to solve that. Right? And so
[00:59:23] Unknown:
I'm just, you know, wondering how have you seen it play out? Yeah. So yeah. Like I said, most of the time, I see it just they they just keep the Bitcoin. But, yeah, as the sales go up, then they have bills to pay in dollars because their, you know, distributors aren't aren't, you know, whatever. So but the cool thing is is that that's gonna be how it starts. And so right now, like I said, most businesses are just holding it. So then I see I foresee, like, yeah. If the sales go up, they're gonna start converting a portion of it. Right? But then that means that more and more businesses will be accepting it. So then it's not so much like, look. What am I supposed to do with this? Like, in their mind, I hold it. And what, like, what if a bunch of different businesses are accepting it?
Then people really have an outlet. Oh, maybe you can pay your producer in in Bitcoin, and, you know, you don't know what percentage he's converting back to dollars. If any, it doesn't matter. At the very least, they can understand. I mean, it does matter. But at the very least, for for now, it's like they can just save on fees at the very least. Like and if that's what orange pills them,
[01:00:32] Unknown:
sounds pretty good. There's definitely 2 things here. Right? Because the fir the first thing is, you know, Bitcoin is a incredibly scarce asset going through its adoption phase. Right? And as a result, you see a lot of the short term volatility. But as as time goes on, as more people start using it, as more people start adopting it, not only should the purchasing power increase, but it should become less volatile. It should become more stable's a funny word because pretty much nothing in our world is stable, especially not our money right now, but it should become the most stable money we've ever seen. That's still a long way, a little bit off. You know? Yeah. And then the other side is kind of what Michael said, which is you know, what percent are you actually bringing in Bitcoin? And I've seen this firsthand because I kinda kept one foot in the fiat world for a while.
In the last 2 years, I've basically become, you know, 99% earning in Bitcoin. The majority of my earnings is in Bitcoin. And I would be lying if I didn't say, you know, fortunately, I have a cushion, but I'd be lying if I didn't say, like, it hurt more this drop, even though this drop is less percentage wise than other drops I've been through. But going from 69,000 to I don't know that one day we went to 25 k or whatever. I was like, damn, I'm poor now. You know? It's just like unfortunately, I had that cushion. Right? But if you don't have that cushion and a 100% of your earnings are coming into Bitcoin, you gotta be careful. You need to do some risk management there. Right?
[01:02:05] Unknown:
And I also wanted to say there's there's there's there's an additional danger to that, at least in terms of what I'm seeing in El Salvador is that that's a need. And when the market needs that, in the case of a seller, when they were forced into it Yeah. Right, what has resulted is and and what the government chose to do was to offer this instant conversion into, dollars on a government wallet, which we refer to as Chivo dollars. Right. And so if Bitcoiners aren't thinking about how to solve for that from the get go, someone else will and there's probably going to be a centralized solution that will kind of take over the market if the adoption is so fast that there's not enough time for decentralized solutions to pop up for folks. Right? So that let's say, a rancher, knows a guy that's willing to, you know, pay his supplier's bill, for a a Bitcoin discount. Right? It's like if those if those relationships aren't built in advance of when that wave of adoption comes in, suddenly what happens is you have this essentially monopoly of of of a centralized service providing that that for folks, and that's I'm just here to caution that there's understand why in the case of El Salvador, you kind of have to have that, but the reality now what we're struggling with is I go to a gas station. I was just there, like, 10 days ago. We went to a gas station that literally Bitcoin accepted here. It said, bitcoins.
They even said, you know, had it in plural. Bitcoins in plural. Right? That's not the real plural, but continue.
[01:03:46] Unknown:
It was it was hilarious. There's no s at the end. Of course. So so so we were just,
[01:03:51] Unknown:
we so we're we're stopping here. And when we, you know, go out with the with the person, we say, alright, so we want to pay for the gas. She shows us this, Chivo dollar QR code, which doesn't run on lightning And we tell the the lady, it's like, that's you know, can you charge me an actual Bitcoin? And and and Chivo, you have this, like, convoluted process of finding how to actually make the lightning invoice. Jesus, oh, no. No. No. Just turn your Bitcoin into dollars and pay me with the dollars. And I was like, well, but I'm I'm I'm not Salvador, and I don't have your your centralized dollar app. You know, I need to pay you in Bitcoin, and and your sign clearly says that I can.
And she said, no. No. No. I'm and oh. And so she finally understood. She said, no. No. No. We, you know, the the order from on high is we're not accepting that anymore and so it it kind of the it's they created this other problem now where now everyone's on this dollar Chivo, system and because of this volatility Sure. Need that everyone had, and so now we have the the additional barrier of now I have to explain to this person and reeducate them that that's not Bitcoin, that this other thing is actually Bitcoin. Right? And so I'm just just just a cautionary tale that, if adoption happens too fast and you're not thinking of those problems and and and looking at ways of leveraging that decentralized network to to create solutions for them as they happen, then maybe there will be this, like, you know, other problems that that Sure. I'm not saying they're worse. I'm just saying it's it's it's an interest it's a new problem. That's one of the reasons why I like,
[01:05:28] Unknown:
how you guys structure your fees as well because it's like, look. If you want dollars, go through the KYC. It's a pain in the ass. You're gonna get charged higher. But if you want Bitcoin, just paste in your on chain address and there's no KYC, and it's really cheap to process the payment. That's why with OG 2, like, we have all the different providers because we wanna make sure that businesses have the option to, like so that because there's a lot of lock in, in the traditional system. Like, you have your bank, your
[01:06:03] Unknown:
Oh, that's why it's pretty noble of Carlino to say that. Right? Because Ibex is one of the centralized dollar providers. Right? So, it goes against their lock in, where, like, if you if if, right like that is you're almost you're almost saying like, we don't want to become one of those centralized providers. But we can offer you that option if you want to. Of course. Yeah. We we want to create the incentives where people actually use Bitcoin. Right? It's like it's it's if you push people into Bitcoin,
[01:06:32] Unknown:
then we hope naturally that'll happen. Right? And, it's a natural incentive. And and, you know, some folks would tell us, you know, over, you know, if you educate people, they'll end up on b t c pay server and they'll set up their own notes. Like, that would be fantastic. Yeah. We want our clients to become, you know, such Bitcoiners that they're gonna end up creating, you know, their own lightning node and connecting their child to us and, you know, helping us with liquidity. You know, that's also you know, but that's why, yes, it's very important that we we within the the industry understand that we're we're in this together. Right? There's the it's much more important to get everyone on this side and and grow the pie than it is to squabble over the scraps that that we barely have going around for us. Right? So, just but but as a cautionary tale down in El Salvador, it's it's, if you don't think ahead of of the kinds of problems that your rancher is going to face.
Someone else is going to solve it for them. Right? And then it might even be harder to pull them back. Mhmm.
[01:07:33] Unknown:
Yeah. You're right. I mean, that's the they they deal with all that kind of volatility and manipulation. Everybody always you know, they they have all these concerns about the rancher from the outside looking in. Well, I guarantee you, the rancher knows all the volatility he lives with every day. You know, and that's how they're very powerful once they're they've get that education, because they can see, you know, they know what true volatility is. And, you know, right now, let's look at the cattle industry in in the United States. A lot of people don't realize that the last 2 years have depleted a lot of inventory out of our supply in the United States. Nobody's really talking about it because people don't understand the industry. You want to talk about volatility, it's coming, and it's going to come to our food supplies. And every rancher that I've talked to in the last 2 weeks, they said, you better get ready, you let everybody know, get ready, because this is gonna hit and it's gonna hit hard. That's volatility when you can't feed your family.
And so, you know, we squabble about certain things, you know, and I always like to bring perspective into where we are within the innovation of Bitcoin right now, Transactional Bitcoin, right, where you can peer to peer transact. You know how many years it took to buy a pair of damn shoes on the Internet before you could buy a pair of shoes? You know, that was that was a lot of things that we had to go through. A lot of technology stacks, a lot of layers, a lot of confidence, a lot of trust building, and look at us now. You know, it's no brainer. In the beginning, it wasn't like that. And so if we can bring that perspective in and identify those touch points that we need to be keep on pushing within this wave of innovation, it's gonna happen. And, you know, that's that's why we have these conversations.
[01:09:17] Unknown:
And that's why we ask these questions. The only way to figure that stuff out Yes. Is just do it. Just get your ass into it. The most important thing about all this. Mhmm. Just, like, get out there, break shit. We don't have to stop breaking Bitcoin. Right? Right. Like, get out there, test different things.
[01:09:37] Unknown:
That's where it's getting really exciting. I hope everyone understands that. Like, it really is kinda coming coming together, and the innovation is Well, look how far you and I have come from the day 1 and what what Cole had to go through. There was pain points there, and we had to really nurture the relationship with Cole, saying we know this sucks right now. It does suck. We apologize, but hang in there with us. And it was because he trusted us, and we had established that relationship. And this is a slow role into innovation, but you're having to move very fast, and you're having to iterate every day. It's iteration after iteration. We get beat up every day from the cattle industry itself into the financial world itself or within Bitcoin.
You know, we we we battle a lot. I mean, we get hit, you know, every day with new things, people within the community itself, you know, coming after us. You have success, you know, that's volatile. You know? And we have to we have to nurture that relationship where it doesn't seem volatile, but we know it is.
[01:10:38] Unknown:
Yeah. Volatility. I I was thinking a lot about what the question. It's a hard question, But like Slim said, everything's about to get real volatile. Everything's about to get real volatile. I I my phone's full of messages from local producers in my area right now about their, they're raising their prices. Everybody's raising their prices. Everybody's worried about, raising prices on their eggs, raising prices on their milk. But it's just gonna happen, and we've seen it happen in a couple of industries, housing, auto.
You know, people are going to forget what a carton of eggs is supposed to cost. And at that point, at at that point, Bitcoin seems a lot less volatile. So I I personally and and, you know, in our community, we haven't pushed Bitcoin on the community. We really use the beef initiative as a shield. Hey. We are here, to fix the local supply chain, to build a local initiative around our food. And the Bitcoin kinda comes as subtextual. You know? This this, producer we met with Monday Mhmm. He called me yesterday morning and kinda worked into the conversation. Hey, by the way, that guy was wearing a Bitcoin shirt, Flynn.
What is that? Is that part of what you guys do? And I got a a real good opportunity to kinda go over what I believe Bitcoin is, which is a fundamental change in our our our trade structure around local economies. And he gets that. He trades. You know? I live in a small rural town, Farmington. You can drive through my town and see the Farmington Exchange. You know what that is? Corn, wheat, seed. It's been there a lot longer than any other buildings in my town, and, it's it's it's such a perfect fit, Bitcoin and ranching thing that all you almost, I think, will will fall these guys are gonna fall down the rabbit hole without knowing it. That's been my experience. Yeah.
[01:12:48] Unknown:
It happens. I mean, it happens with that, you know, just that that ongoing conversation of of basically, you know, how do we how do we source our food? How do we how do we, steward our land, and how we how do we protect our heritage, our relationships within our communities. We don't have to be divided anymore, and it just comes to it. It comes to it naturally. All of us in this room right now are you know, we didn't know each other, you know, 7 months ago, bottom line. Well, this is this is something that happens whenever you actually you know, as we started this cast is that we we present this handshake, and we we we continue with the conversation.
You know? And that's why I'm, you know, that's why I'm going that's why I'm here in Nashville. I mean, it's here to it's to meet people. It's to you know, Matt and I are talking. We're gonna have a freaking headquarters of the beef initiative here in Nashville, And that's gonna create a lot of conversation, a lot of innovation within here in Tennessee. I wanna duplicate everything that we've done in Texas that Michael and I have been able to achieve with the team these teams that we have, everybody that everybody that's helped us out. We're about to do it in Tennessee. It's gonna happen a lot quicker now. And and once this starts happening, that is that that, snowball effect, and here we go. And, you know, it's it's wonderful to have, you know, Matt and, you know, the Nash coiners here because I feel so freaking, you know, confident right now, a lot longer or better than I was, like, 6 to 7 months ago.
And, you know, that's it's a good feeling. I mean, I I don't feel any volatility right now. I just feel opportunity. And, you know, with that, that's what needed people out there that are listening right now. This is this is about opportunity. We're gonna punch through a lot of bullshit that's happening in our lives right now, and it's time to really kinda step up and put your compass in the right direct direction here and quit, you know, quit parroting all the freaking fear porn and all that noise out there, and let's get let's let's start really working together. Let's focus on the right bullshit instead of, you know, instead of, evolving the the the fear porn, like I say, to where it kinda handcuffs us. And and we we don't need to be handcuffed right now, man. We're innovating. We're we're having success, man. We're changing people's life. You know how many people call me up every day and say, hey, man. I got a freezer. Half of it's full, man. I'm feeding my family for the next year. You wanna talk about freaking empowerment, you know, Whenever you can I tell everybody, you stack your freezer, you're gonna be up at 3 o'clock in the morning, opening that door and looking at that freezer, and it happens? I've I've been getting people say, you're damn right. It does happen. I guess, I mean, that's one way of hedging against Bitcoin's
[01:15:32] Unknown:
purchasing power volatility is that if you have you have beef, I mean, that beef will always feed you. That same amount of beef will always feed you and your family.
[01:15:41] Unknown:
Isn't that the best defense right now in our society as long as you're eating pure animal protein nutrition? I mean, our nutritional starvation in this country and across the world is is it's a freaking epidemic right now. I mean, people don't understand. We won't go in on this cast about the true food intelligence that's in need in moving forward. But, yeah, I mean, while everybody's falling apart, you're feeding your family and you're you're eating correctly. You don't have that that food insecurity, you know, anxiety that most of this country's already you know, that's all you hear about now. There's gonna be you know, there's fertilizer shortages. There's grain shortages. You know, there's a war on beef. This crap is happening, and if you can have that freezer full, you know, take care of your family. My father has a freezer full. My mother has a freezer full. I have access to 2 other freezers that are full right now. I don't worry about food. I brought, you know, 8 rib eyes here today that we're gonna eat from convention, so that feels pretty good.
[01:16:39] Unknown:
Ryan, you got something to add over there?
[01:16:43] Unknown:
I I, I'm sitting here taking notes. You're right. You know, the volatility is an issue. It's I I the notes I'm taking are, we're gonna build the 1st circular economy. And and the steps there, you know, beef, fertilizer, soil producers, and exchange. I think if we can close the loop, and this is me just thinking out loud right now. But if if somebody can close the loop, then your your problem just went away. If I can denominate eggs and milk, locally, if I can set that price point in sats and advertise it compared to the Fed, I think that'd be powerful.
And if you can't if you could offer that first circular exchange, I mean, what a model.
[01:17:36] Unknown:
Yeah. And then echoing what Michael said earlier, just the importance of just getting out there. It's like it's volatile now if we're all dangling kind of on our own without having access to this, you know, network of of of, you know, creating that circular economy. But if if you tie those webs in your community and build stronger bonds, then you you're not affected by the volatility as much. You're you're just the strength of the folks around you are the ones that really, you know, help push you through, but we gotta you know, you gotta get out there and and start doing it. Right? Because, otherwise, you know, the headwinds are coming.
Your your your house might get blown out blown out. Right? So it's like, hurry up. Yeah. Let me just tell, like, a brief story
[01:18:17] Unknown:
just to give people an idea, like, how it is important just to get out there. So I, I was sitting down with the owner of a business in Austin, and we were actually, like, at another business, though. We went to, like, this coffee shop, the meteor. And, I didn't have any I wasn't planning on onboarding both of them, at the same time, but this business owner was like, hey. Have you heard about this thing? Like, we can accept Bitcoin, and we can do this. And he's like, no. Like, you're gonna accept Bitcoin? And the business owner's like, yeah. I'm gonna do it. And he's like, you should do it too. And then he's like, okay.
So now this particular coffee shop, it's called the Meteor Arts and also we do we go there every Tuesday morning evening, and we bring anywhere from, like sometimes it's, like, 5 people. Sometimes it's 20. And they all pay in Bitcoin, generally. And and now they're gonna be accepting Bitcoin for their bike because they have, like, a bike shop too because there was a The Austin thing. Like, all the coffee shops are bike shops. Yeah. Yeah. Yeah. Now now there's there's a Bitcoiner, in Austin who's like, oh, man. My bike got stolen. Let's talk to them about accepting Bitcoin for for bikes.
And seems like they're gonna be doing that. I know they're getting I I know they're talking with Annalise from Ivex, I think. And so and then I went to the barbershop next store, and I'm like, hey. You know, have you had anybody come in? Again, just try to insert it in. Have you had anybody come in here trying to pay with Bitcoin? And he just looked at me. He's like, what's Bitcoin? And I was like, alright. Are we there? We got work to do. Yeah. We're still early. Yeah. We're still but, you know, that stuff spreads.
[01:20:01] Unknown:
Yeah. I I was in, Paducah, Kentucky this morning. I was in Paducah, Kentucky this morning and, bumped into the, city commissioner because I was talking about Bitcoin while I was paying for my coffee at this coffee shop, and, we connected. It it happens.
[01:20:22] Unknown:
So, guys, this has been an absolutely fantastic conversation. It's been humbling to be a part of it with all of you. We have, Bitcoiners coming in from all across the Midwest and the rest of the country for Nash Bitcoiners later. They're flowing into Bitcoin Park right now. The door just opened with 2 of them. So we should get ready for that. I like to end these conversations with final thoughts. So, Carlene, no, we'll start with you final thoughts.
[01:20:52] Unknown:
I'm just excited about this starting to happening starting to happen in in the United States because I think it's, the shining beacon on the hill has to come from from this part of the world, and I'm not surprised that it's gonna be from the south and from Texas. And it's just, happy to be along for the ride. So let's fucking go.
[01:21:10] Unknown:
Thanks, Carlene. Yeah. Michael, final thoughts. Yeah. So
[01:21:15] Unknown:
I just can't stress enough. People really need to, let's say, first, educate themselves on the tools that are available for businesses, whether you're medium sized business or a micro business, to start accepting Bitcoin. Start playing around with these tools. Start getting a feel for them so that whenever the time comes and you feel it's a good time to, you know, shill some some Bitcoin payments, you'll be ready. Because there there's definitely this wave coming, and I'm seeing it personally, and I sure as hell am not gonna be able to to do it all myself. Like, I'm sitting here. Like, I have so many leads out the wazoo. If anyone could do it himself, it's Michael, though. Yes. Like, seriously, everybody, we, you know, this is a distributed decentralized movement. This is grassroots, bottom up, not top down. We need everybody to do their part.
You know? Some some companies need to have incentives out there for you to onboard these businesses, so get out there
[01:22:16] Unknown:
and do it. Awesome. Thank you, Michael.
[01:22:18] Unknown:
So, we're gonna be putting out content on how to do it. Okay? So,
[01:22:23] Unknown:
my I'm gonna start a podcast. You're gonna start a podcast? Specifically I would love to come on your podcast. Yeah. Yes. It's specifically
[01:22:31] Unknown:
about not so much about the theory. It's called the B Commerce Podcast. We had the first episode out, but it's gonna be about very practical information for business owners and then people that want to teach business owners how to accept Bitcoin, how do you hold it, but, you know, what services can you connect to? What about Shopify? Those are really maybe for some really simple, like, q and a's, but it's powerful. So that's our focus. Just keep an eye out for that. I think that'll be because we talked a lot, but, frankly, we didn't get in too much about literally how. Right. So that's what
[01:23:08] Unknown:
that's the niche I'm trying. Truly, Michael, if I can help in any way, just let me know. Hell, yeah. Sounds good. Brian, final thoughts.
[01:23:15] Unknown:
Yeah, man. I think I think, our our beef initiative in Missouri is real focused on local food distribution and as gorilla away as possible, just decentralized access to your local supply chain. And, anybody who's working on that, I'd like to talk to. I, we need help. We've been doing this for a while. It's a it's a big problem. You can pick up your steaks, your milk, your eggs, but lowering the threshold of convenience is gonna be necessary for for mass local adoption. We we we built a stage right across the street from our our county courthouse. We plan on being hyper focused on food distribution, over the next year.
[01:24:04] Unknown:
Awesome. Thanks for having me on, man. Dude, it's been a pleasure to meet you. I look forward to getting to know you better and and working with you going forward. You're Satoshi. Yeah. I was like, this this dude. I hate when people I hate when people introduce themselves as Satoshi. You know how many times I get that? More Satoshi. Just to be clear. And then he's like, is this the Bitcoin house? But, honestly, it's been a pleasure to meet you, and I'm I'm glad you got to join us for this conversation.
[01:24:27] Unknown:
Thank you.
[01:24:29] Unknown:
Slim, final thoughts. Yeah.
[01:24:31] Unknown:
There's a lot to unpack here. It's it's it's not daunting if you can get focused, within the beef initiative itself. The best place to understand and see and to review what we're doing is just beefinitiative.com. We, were, of course, we're having our 2nd conference in Colorado. It's July 22nd to through 24. It's a 3 day conference. It's gonna be extremely badass. We have all kinds of great speakers. Go check that out. We just started educational series for the rancher, and we're directing it right at the why of Bitcoin for the North American rancher. The Texas to Tennessee tour, it starts off today. It's starting right now with this conversation. So it's up and running. Go go check it everything out, you know, make your own decision to where you want to kind of jump into the beef initiative ethos.
And, you know, contact us come along for the ride. Let's get a let's get a beef initiative headquarters in every state. You and I, Matt, are we're gonna be moving very, very fast and very strong with this, and Tennessee is gonna catch up to Texas. And, it's time to kick it off today. I'm excited, Slim. Just getting started. We're gonna do big things. Hell, yeah, man. This is this is gonna be good times.
[01:25:43] Unknown:
Carlene, yo, I just wanted to give you an opportunity to, what's the website for your educational program?
[01:25:50] Unknown:
Sure. So we are collaborating with my first bitcoin dot I o, where we've built the Bitcoin diploma. You can find more information about them. They're the 1st, Bitcoin only nonprofit in El Salvador, and, we'll have, some more information out soon. By September, we hope to open source the curriculum out so that anyone that wants to, help get more kids educated or or themselves can just use it, but but we're testing it out in the classroom, as we speak. And and, so, yeah, my first bitcoin dot I o. There are partners and Ibex. You can find us in on on the web.
So yeah. That's awesome.
[01:26:25] Unknown:
I just wanna thank our guests once again for joining us. I wanna thank, the audience for listening and supporting the show. Reminder, you can support the show at seal dispatch.com or by using a podcasting 2 point o app, such as Fountain or Breeze. If you do a boostogram through there, I will be reading the highest, ones or sometimes all of them, depending on my mood, every episode, and I really do appreciate your support. We're moving quick here at Bitcoin Park and the first ever Bitcoin TV studio. Literally, as you're recording, my cofounder Rod walked in with a brand new mic and a brand new mic stand.
So we are going to be moving very quickly here. The next chapter has begun, and I appreciate you all for being a part of it. Very excited for NASH Big Corners tonight. We're expecting over 200 people. If you've never been in town, consider coming next month. Love you all. Stay on Bull Stack Sats.
Introduction and gratitude to supporters
Bootstrapping a Bitcoin circular economy and the beef initiative
Bitcoin education and the importance of personal responsibility
Building relationships and economies with ranchers
The importance of ranchers educating others about their work and the decentralization of thought
Approaching Bitcoin through conversations with ranchers
Addressing concerns about the volatility of Bitcoin
The need for collaboration and working together in the Bitcoin and ranching communities
The importance of having a stable food supply and the role of ranchers in providing it
The need to take action and build a circular economy within local communities
Importance of getting out there and networking
Coffee shops accepting Bitcoin
Bitcoiners coming together for an event
Educating businesses on accepting Bitcoin
Local food distribution and adoption of Bitcoin
Starting a podcast about practical information for business owners
Beef Initiative and decentralized access to local supply chain
Bitcoin education program for kids