Buy Bitcoin with Every Sale (Automatically!) - Stephen Cole

It's really the tool that I of my own bitcoin journey. If a business owner, you know,

up can be a lot to ask for them. It can be kind of a heavy lift trying to cook their fried fish for their sushi for the day. Whatever your core product you are already having to be I think it's just a lot less And when I think about, you Francisco, I wish that I had stomp around town and tell Welcome to the Business to helping you enrich your bitcoin, the hardest money on I'm your host Josh Friedeman who's the co founder of helps businesses passively buy bitcoin. We're going to get to our this.

Stephen, welcome to the podcast. Hey, thanks for having me, Josh. So I like to start off every that help us to get to know us some insight for our own lives. Are you ready for these? Let's do it. Question number one is this. When and how did you first I first heard about Bitcoin in very smart. I thought I was too busy in my so kind of shrugged it off.

And then two years later were still talking about it I thought, okay, maybe there's It hasn't faded into obscurity it a couple years ago, so And I bought my first small And once you have a little more and learn more becomes greater. And thus began my tumble down So a quick follow up question I didn't buy Bitcoin until 2021. I did have a conversation with in on the end of a and just didn't pay attention. Like a lot of people. But I've wondered if I would to stick with it that long back then.

I feel like when I came in bitcoin was going and to have 2013, it seems like it story. Was it like that along the way? Did you ever question like, Is it what I thought it was? Did you have some of those confident once you kind of

Oh, I wish I could say that I the insights, figured it out, it was very much a journey of I did read the white paper as went to, but the educational not as well built out Back then. There were not excellent and so forth that were helping through various lenses. And so a lot of it was just and in chat groups and trying I. And the price volatility was It's still volatile today by even more so back then.

And, and one thing that your it's not just hard to kind of like when it crashes, maybe bitcoin, but, but in ups too. I was looking back at text other day and, and the message or 16 was $533, sell, sell, mark encourage. Like clearly this is the top. Clearly you've got to take And, and so I think the it sounds easy to just kind of it and think long term, but practice to do that. Feel lucky too that I was in Austrian economics and, and strong where I otherwise would Yep. Question number two.

What's an insight or fact understood? This is going to sound funny, The most obvious fact, but million bitcoin maximum. And I'm sure a lot of people space. And so you're going like Everybody knows that one. But I think there's this funny where even a lot of the people that and they kind of nod get it. I, I don't think it's often You know, I don't think we appreciate it because we're day. In all of our lives, we've scarce.

You know, the dollars and fiat They can authorize more shares They can always make another They can always make another know, and, and so there's a just one more of something, and something that is very And even if the price spikes know, you can't go out and The mining only happens at a And I just still think that's off guard. I entirely agree with that. I think there's two things But it's easy to say there's understand.

Infinity. And I remember as a kid trying thinking that I grasped it thought had gotten away from me. I couldn't truly grasp what Was infinity and scarcity. And we've never seen true the physical world other than But that's not even a set for So infinity and scarcity are comprehending. And I don't think we've gotten we've truly felt that scarcity. But when it happens someday I think. I agree. Well said. So question number three is, recommend to other people?

The bitcoin resource that was actually the Satoshi Nakamoto Institute. It's a website that was kind Goldstein Pierre Rochard, with support from the community. But it's and they've been 2015, maybe 14. But they I think were the lens in a rigorous way, in a And in my personal journey, off for me where, you know, just a new computer science technology kind of nebulous a candidate for sound money need to be successful as sound money? And if it indeed has those look like?

Is hoarding Bitcoin and saving is it not using it? I think that's such an that type of material. Question number four, beyond or idea that's been helpful to This is. I got a kind of a fun one for this. It's definitely bitcoin journey. But meetups, so actually just in Phoenix, Arizona, for example. And I launched a bitcoin back in 2018 or 19.

And being in the same room as and hungry to learn about, in someone's interest is, whether group they're involved in, I upside and fixed downside to your local area. Much opportunity, whether it's developing personal relationships. If I connect enough dots, I my decision to attend my first meetup. And. And so yeah, would encourage you're in like a major there's a high quality local So. So go scope it out. Yep, I strongly echo that sentiment. It was probably eight, nine in Bitcoin.

I said, hey, I'm going to And then I found out there And since then it's been great. We have monthly meetups and as who shows up, but there's a And then just this last month So we'll do like the second and then we're going to start month for lunch. And it's really interesting to the group. When you get together during lunch. The conversations you have then than in the evening meetup. So definitely recommend meetup if you can. So question number five is question.

And it's this as a general Is it better to ask why or why not? Why not? Default bias for action. Go do things. We often are our own kind of that if people just kind of a little bit slanted towards permission. But context is everything. But I think, yeah, just going is, is to shape. And if you don't like in an industry, in your household, like you can affect

Well, Steven, we're here today orchestra. I saw you post this on Twitter excited to learn more. Could you just share with us a We'll get into some other You're involved in local but you've entered into this I'd love to hear a little bit Absolutely excited to chat it. The company was actually Joao Almeida, so he was Opennode, the lightning He began working on this We met in the context of that in the company.

Well actually so Joao and I We first met in 2018 at one of both attended, which was in And so we kept in touch ever since. Loved seeing his journey at Opennode. And so then when I saw him in the context of that company. And after I invested into the texting each other like every talking about go to market types of businesses we could it. And so it happened very organically. We just kind of realized one up and build this thing together.

And so we're excited to be Orchestra is software, and we be the easiest way for small the US to get started saving So, you know, my personal And that means listing prices savings, all of the functions But. But I feel that, you know, And right now we're in the And that doesn't mean never Tech is awesome. It's important to build. And when businesses adopt it, early adopters.

But I think that the use case given bitcoin's volatility and And by that I mean we're so that someone walks into your bitcoin and wanting to spend it. Someday we will get there, absolutely. But right now, whether it's or a physical storefront, the show up to your business bitcoin and wanting to spend. And so we're really trying to of how much exposure they have for them to convert some of bitcoin.

So rather than any changes to they use, rather than the to understand wallets and seed with that, we've just written the payment system they that they already use. And then they just tell us of their revenues they would into bitcoin for savings. So today, the integrations so far. We're going to keep adding lot of the big ones. Paypal, Stripe, Shopify, one of the big ones in the handful of others.

And so if there are businesses solutions for their point of Orchestra IO, our website, they already have, and then we they can choose whatever their business. And we see, especially if the new to bitcoin, they'll often But then, you know, maybe they working and they experience a And then we've seen them dial So, you know, it's early days, be, to be able to really just the stuff that they've worked Yep. I love the idea. It's very simple.

And I think that for a lot of just to kind of ratchet it up I'm curious to know what, what Do you find a lot of people I know very early days for the who are maybe already a feature like this in their business? Or is this a lot of outbound here's something you can do If you want a little bit of a Yeah, great question.

So so far, most of the are owned by people who are with bitcoin, and they're the willing to go through the is just an easier way for them They don't have to log into an look at numbers and figure out have an automatic buy set up, And if their revenues and not as high the next revenue like what we do could So we see some where it's just that it's built into the for them to adopt.

But over time we absolutely of the, the business owners Financial literacy education to a business is a huge part to be to, to be bringing to You know, there are over 34 in the U.S. and I think at some point, you single one will hold some bitcoin. As crazy as that probably I don't think It'll each business's holdings, but We're just really trying to for those small and medium them where they're at. And if they learn more and bitcoin, they want to protect private keys.

We absolutely encourage that, for them to withdraw to would like. So we want to make it as easy never want to kind of limit bitcoin journey. So I have a follow up question you just talked about where You've been in bitcoin for I'm curious to know, are be at this point in time? Or maybe a better way to ask and what has moved slower than adoption and.

Growth in terms of adoption, far along as I thought that we And I don't really know what too useful. Like there has been a lot of Operation Chokepoint 2.0 for I think, making a lot of big hesitant to build solutions And then there's also just and blockchain projects. And so the top of funnel for bitcoin has been. It's been difficult to kind of from all of the thousands of might be special. And so I think in some of ahead as I thought that we Maybe the price isn't as high now.

The when is always difficult by where we are right now. In this moment, in terms of lot of the fear that some involved in this is being removed. And the ETFs have come to this asset psychologically for large capital allocators. And it's by almost any metric the history of the public BlackRock's specifically. So I think we are about to exciting. So back to orchestra. I'm sort of curious to know, transaction or is there a like end of day, how does that work?

And then also is there a way or is it always a percentage Yeah, we do allow just ad hoc a, you know, a smash Buy And at any time, if you're a can log in, click buy, acquire desires. We but yeah, our core product of revenues. So our software links up to We basically keep track of all what you have set as the And so then we're keeping tabs You can adjust that percentage owner, three options for settlement. So you can choose from daily, And so, you know, we'll kind that should be be purchased.

But then in terms of the kind of on those schedules I'm sure there's probably a mentioned that you were first Is there something about the the focus of it that made it I don't know how frequently an a company they've invested, But I'm curious to know, is than the fact that the co and you were talking a lot, Was there something else about just feel natural because of a I love that question.

I think it's because this was and then I think I quickly why I wanted to become more is it's really the tool that I of my own bitcoin journey. Back in 2013 and 14, I was and I was really excited about bitcoin. And I'm sure a lot of people You want to tell the people in it can benefit from them. And I would just go around my everywhere about this. I went to a certain doctor on because he took bitcoin as payment. I ate at this sushi spot took bitcoin as payment.

I would shop on overstock.com And at the time I kind of growth of the bitcoin network But. But reflecting on it later, if new to this, then the ramp up It can be kind of a heavy lift trying to, you know, cook their fresh fish for their Whatever your core product you are already having to be And so to have to go and you know, how to not lose And then if it's not just you your staff so that they can If you are not there for a lot.

And then even if they then it's not too often that in the door and want to pay in once a month. And so the ROI just observation. And so I think that something can do it in a way that is You don't have to ask your They still swipe their credit card. You don't have to train your more about this other way to pay. I think it's just a lot less When I think about, you know, I wish that I had had around town and tell business Yeah.

So staying on the investing how you think about investing I know you're invested in some Is the goal to support great projects? I know you want to make money. Is it always like, hey, can What are some of your thoughts there? Just as far as being an are already interested in there. Yeah. Investing into startup and of my journey in recent years. I've done a little over 75 seed stage companies with my I'm also a venture partner at named Trammell Venture Partners.

And their focus is exclusively bitcoin native companies. And my personal framework for and startups and companies are And so by default, if there is if I get paid, if there's a into bitcoin for me. And then startups are kind of something. And yes, it would be fantastic because that is kind of It certainly is to me and I to more of the world. I think VC firms will be returns against bitcoin in the explain to invest investors the S&P 500 today, Bitcoin new hurdle rate.

But yeah, it's still so early so great potentially that that investing against and outperforming. Most of the startups that I've bitcoin. Most have made money in bitcoin terms. There are a handful that have bulk of my startup investing years. And in terms of the ramp up you tend to see a lot of Three to ten. And so we shall see how things go. But yeah, it's exciting to be And that intersection of is really such a sweet spot.

And I think that's still know, the Silicon Valley VC and blockchain and in my view on what makes bitcoin unique yet.

Then the last thing is, if what you said about bitcoin in their area, maybe because area or whatever else. Do you have any an effective bitcoin meetup? Yeah, do it. I mean, this goes back to like I, when I moved to Southern county and there were already some great bitcoin meetups, frankly. Like there was a Los Angeles back and forth on does Orange or would that be redundant? And, and I just, you know, you you like type a few sent and That takes like 30 minutes of Maybe nobody shows up.

Maybe one person shows up, but That's a starting point. And even if one person shows going to be really excited and about bitcoin and it'll be a you know, you'll grow from there. Make an account on, on X, Nostr is kind of earlier in, in your small town being on But certainly make an account and I think just of it not working out.

The absolute worst thing that in a restaurant for an hour and then you go home and And normally it's not going to It's going to be like a up and some are new and some develop into who knows what. The upside on those human And it's still so early in you'll be reflecting on like group because it led to xyz. Absolutely. So if you would share with us specifically about orchestra. Could be anything else as well.

And then where people can go try or refer other people to of friends who own businesses a little bit of bitcoin exposure. Yeah, absolutely. We're, you know, orchestra is public. Any company within the US we excited to do so. We spell the name of the So for listeners, O R Q E S T You can go on there, you can The platform is $20 a month or the fees on the buys and sells places. And we also have bookkeeping because some of the accounting of a nightmare.

So we see that as a way that that are dealing with this. But we'd be really excited to We want to make sure that the are delivering way more in are paying us for the product So no loss if the platform is We just cherish any feedback And I'd say we're also just a We love bitcoin and we're to go and push bitcoin on any the right answer. We don't want anyone to go all for their circumstance.

We just want to build tools to system has been slanted When, when we print trillions banks and the primary banks that money and often it in a way that is good for They end up getting the short And so, you know, we think field in, in a really powerful way. And, and we're excited to, to and and get to partner with process. So we'd love to have anyone try the product and feel free. My DMs are open on X as well, Happy to answer any questions Great.

Well Steven, thank you so much It's been a pleasure. Appreciate it. Josh. Well friends, it's a wrap. Thanks so much for listening show. If you want to reach out to those links down in the show notes. And if you or someone you know their business's balance As always, keep building, keep living and leading.

Well, thanks to those who have in the last week, including His boost was about last where we talked about Deep AI on open protocols and he bullish on an open source AI Ezeki, I feel the same way. Thank you for the boost, thank if anyone else would like to on Fountain. Neither stream sats as they include a comment with that show.