In this podcast episode, Scott sits down with Dom Bei for a discussion on Dom's personal journey with Bitcoin and his mission to promote its adoption in pensions. Dom shares his three phases of exposure to Bitcoin and explains why he believes it is important for pension funds. He emphasizes the need for open conversations and addresses objections and concerns from pension plan members. Dom also discusses the benefits of receiving a portion of one's salary in Bitcoin and the importance of learning and adapting to navigate the changing investment landscape.

Dom Bei is the Founder of Proof of Workforce. Previously the President of the Santa Monica Firefighters with 10 years of Union experience, Dom's mission is to bring long-term and sustainable Bitcoin education and adoption to the workforce.

What We Discuss:

[00:01:12] Dom shares his personal journey with Bitcoin, including his missed opportunity in 2010, his exposure in 2017, and his current mission.

[00:06:11] Dom explains why Bitcoin is important for pensions, highlighting its decentralized nature and its ability to provide a hedge against the legacy finance system.

[00:09:37] Scott and Dom discuss the investment potential of Bitcoin, focusing on its limited supply and its function as a decentralized digital currency.

[00:12:00] Exploration of the challenges in perceiving Bitcoin as a savings mechanism due to its price fluctuations and comparison with cash.

[00:13:06] Explanation of how Bitcoin's value and desirability increase over time, contrasting it with the depreciation of fiat currency.

[00:22:14] Discussion on the difference between the Bitcoin mindset and the fiat mindset, using the example of money constantly losing value.

[00:22:58] Explaining the need for Bitcoin in pension plans, highlighting that Bitcoin will continue to increase in value in dollars.

[00:24:07] Advocating for pensions to have investments outside of the system to protect workers and taxpayers from manipulation and losses.

[00:32:02] Discussion about the impact of broken pension promises on workforce and city reputation.

[00:36:31] Analysis of the potential dominance of digital money and the significance of Bitcoin as the original and most recognizable digital currency.

[00:41:59] Explanation on the benefits of using a portion of salary to buy Bitcoin for savings and addresses concerns about price volatility.

[00:43:21] Discusses the perspective of getting paid in Bitcoin, managing expenses, and the potential impact of inflation on the dollar.

[00:46:41] Provides advice on how to navigate objections and concerns when introducing Bitcoin to organizations, emphasizing the importance of addressing fears and building a model that addresses concerns.

[00:53:20] Discussion about the Nakamoto Portfolio, an online tool for determining the right amount of Bitcoin in an asset mix.

[00:53:57] Explaining how the Nakamoto Portfolio tool can be used in real time to evaluate how Bitcoin could affect a portfolio's risk analysis.

[01:00:35] Dom Bei's mission to help worker unions and organizations adopt Bitcoin and find sustainable models for their pension systems, free of cost.

Episode Resources:

Proof of Workforce | Website

Dom Bei | Twitter

Dom Bei | Substack