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

In this podcast episode, Scott and Joseph Barbuto discuss Joseph's economic long wave theory and its relation to the real estate market in Canada. He explains the different phases of the economic cycle and the impact of unproductive debt on the economy. Barbuto predicts the end of the current fiat monetary system within a decade and discusses the factors driving real estate prices. He emphasizes the importance of understanding economic cycles and the role of interest rates in determining asset prices. He also discusses the future of technology, the potential for decentralized systems, and the role of gold and Bitcoin in the monetary system.

Joseph is the founder of the Economic Longwave, a forecasting model that predicts boom and bust cycles based on the availability and price of credit. The Kondratieff Wave, also known as the Kondratieff Cycle or K-Wave, is a long-term economic theory that suggests capitalist economies go through distinct cycles of expansion and contraction, typically lasting around 50 to 60 years each. This theory was proposed by Russian economist Nikolai Kondratieff in the 1920s.

What We Discuss:

[00:00:45] Joseph shares how he discovered the long wave theory and its relation to his career in the investment business.

[00:06:03] Explanation of the different seasons of the long wave, including economic spring, economic autumn, and economic winter. As well as the falling price of credit.

[00:08:51] Joseph discusses the relationship between credit and economic activity in the long wave theory, emphasizing the importance of productive debt and the consequences of excessive unproductive debt.

[00:14:13] Discussion on the correlation between real estate prices, population growth, and affordability in Canada from the 1940s to the present.

[00:21:09] Advice on how individuals can prepare for the upcoming economic crisis, including deleveraging and living within one's means.

[00:26:14] Discussion on how interest rates affect real estate prices and the importance of credit in the long wave theory.

[00:30:34] Exploration of how the interest rate policies in the last 15 years differ from historical norms and the potential consequences, and how we are a credit based economy.

[00:35:41] Addressing the belief that governments can prevent a collapse and the need to consider higher interest rates in the future.

[00:37:54] Discusses the approaching economic winter where defaulting and government debt explosion will occur.

[00:40:35] Explores the role of sound money, gold, and the collapse of the current monetary system.

[00:41:40] The most important thing you need to know about the long wave theory.

[00:42:48] Discusses the fifth wave driven by information, computer revolution, genomic revolution, artificial intelligence, and other technologies.

[00:50:59] Explores the advancements in stem cell technology and its potential to revolutionize healthcare by repairing and preventing diseases, ultimately eradicating disabilities.

[00:57:40] Discusses the place of gold as a transitory asset leading to digital gold or Bitcoin, which is seen as the future of money due to its technological advancements and potential for everyday use.

[01:01:45] Joseph discusses his belief that by 2040, Bitcoin will emerge as the dominant monetary system over gold due to technological advancements and global adoption rates.

Episode Resources:

Economic Long Wave | Website

Economic Long Wave | YouTube

Economic Long Wave | Twitter

Economic Long Wave | Substack

In this podcast episode, Greg Foss, a Canadian Bitcoin enthusiast and veteran of the capital markets, joins Scott on "The Block Reward". They discuss Greg's background in the capital markets, his early discovery of Bitcoin, and his insights on the value of Bitcoin in relation to credit default swaps on sovereign debt. Greg shares his experiences as a junk bond trader and his efforts to develop a high yield bond market in Canada. He emphasizes the importance of Bitcoin as a hedge against fiat debasement and discusses its potential impact on pension plans and real estate. The episode concludes with a call to action for listeners to explore the potential of Bitcoin.

Greg has spent over thirty years in financial markets with a focus on trading high yield credit. He has worked on both the sell-side of the street (TD Securities) and the buy-side having been Managing partner of Credit Strategies at a successful hedge fund team during the great financial crisis in 2008/09. He was a founding shareholder at 3IQ, one of Canada’s largest digital asset managers and is currently CFO and Bitcoin strategist at Validuspower.com.

What We Discuss:

[00:00:00] Greg Foss emphasizes the importance of owning hard assets, including Bitcoin, to protect against the debasement of fiat currency.

[00:01:10] Greg discusses his career in trading credit and his belief in the importance of understanding credit markets and their impact on equity.

[00:04:45] Greg shares his journey of discovering Bitcoin, investing in a Bitcoin startup, and realizing the potential value of Bitcoin as a life-changing technology.

[00:15:20] What are the risks to bond holders?

[00:15:57] Explanation of the risks faced by bonds and how Bitcoin can serve as an alternative investment for bond investors.

[00:18:00] Why every portfolio needs Bitcoin.

[00:23:35] Discussion on the valuation of Bitcoin using open market credit default swaps and presents a potential price target based on the total global financial assets.

[00:23:50] How do we price Bitcoins potential?

[00:28:53] Discussion on the potential impact of BlackRock, the world's largest asset manager, getting their US spot price Bitcoin ETF approved.

[00:28:55] Insights on Bitcoin as a risk mitigating factor and its positive impact on capital markets and free markets.

[00:30:15] Exploration of Bitcoin as a hard asset and insurance against a potential debt crisis, with a focus on the US balance sheet and global reserve currency.

[00:41:52] Greg emphasizes the importance of Bitcoin as a solution to a problem with enormous repercussions, urging people to understand its value for the future.

[00:44:39] Greg discusses the optimal Bitcoin allocation for the Wisconsin pension plan, which was determined to be 6% through portfolio analytics.

Episode Resources:

Greg Foss | Twitter

In this podcast episode, Scott sits down with Adam O'Brien. The conversation revolves around the concept of financial sovereignty and the importance of being in control of one's own money. Adam explains that Bitcoin provides a protocol with sound financial means and principles that allow individuals to have full control over their wealth. He shares his own journey of discovering Bitcoin and discusses the risks of financial oppression and the need for sound money. The conversation also touches on the issues of financial censorship and the impact on individuals and businesses. Adam highlights the role of Bitcoin in providing a solution to these problems and enabling financial sovereignty. The episode concludes with a discussion on the mission of Bitcoin Well and the importance of understanding sound money.

CEO and Founder of Bitcoin Well (BTCW.v) Adam is a bitcoin entrepreneur dedicated to building products that make it easy to buy, sell and use bitcoin. He founded Bitcoin Well in 2013 which has grown to be one of Canada’s largest bitcoin companies boasting over 280 Bitcoin ATMs across Canada and an online portal which is the fastest and safest way to buy and sell bitcoin. In 2021 Bitcoin Well became the world’s first non-custodial bitcoin business to be publicly traded. Today, he is CEO of Bitcoin Well and recognized as a true visionary in the field and strives to bring bitcoin to the mainstream. His goal is to make bitcoin easy, approachable and accessible for all.

What We Discuss:

[00:01:14] Adam talks about his early adoption of bitcoin, his initial skepticism, and his deep dive into learning about bitcoin in 2013.

[00:12:12] Exploration of historical incidents of wealth confiscation, such as the US government's confiscation of gold in 1933, and the current financial oppression in North America.

[00:14:04] Explanation of the importance of being financially sovereign and in full control of one's money, with a focus on the principles of sound money and the limitations of traditional banking systems.

[00:24:29] Discusses the importance of money as a medium of exchange and how it is tied to productivity and creating value.

[00:28:08] Explains how Bitcoin offers a long-term solution to the current issues of reckless monetary policy and loss of purchasing power.

[00:33:15] Addresses the problem of inflation and how it leads to the loss of purchasing power. Also discusses the rising costs of real estate and its potential consequences.

[00:38:59] Adam talks about the limitations of using cash in Canada and how the government's elimination of the ability to use cash for transactions has created a problem. He emphasizes the potential consequences of financial censorship and the need for a free market.

[00:43:07] Discussion on the possibility of broad financial censorship and how it can impact individuals and society. They also touch on the importance of financial sovereignty and the role of Bitcoin in providing individuals with control over their wealth.

[00:50:07] How Bitcoin Well incorporates Bitcoin into its corporate culture, attracting individuals who value freedom and independence.

[00:53:54] Emphasis on the concept of sound money and its importance, explaining how Bitcoin fulfills the criteria of sound money.

[01:01:08] Discussion on the various products and services offered by Bitcoin Well, including ATMs and ways to interact with Bitcoin.

[01:01:43] The goal of the Block Reward podcast to create accessible conversations about Bitcoin for people who aren't obsessed with it.

[01:02:29] Block Rewards' mission of helping Canadian employers implement strategies for integrating Bitcoin into compensation and benefits is highlighted.

Episode Resources:

Bitcoin Well | Website

Bitcoin Well | Instagram

Adam O'Brien | Instagram

Welcome to "The Block Reward," where we make the world of Bitcoin accessible for everyone—no prior knowledge needed. Host Scott Dedels, along with a lineup of distinguished guests, aims to demystify Bitcoin in easy-to-understand language, guiding you toward financial sovereignty.