I'm Adam O'Brien - Founder and CEO of Bitcoin Well (BTCW.v)

pull down to refresh

I'm Adam O'Brien - Founder and CEO of Bitcoin Well (BTCW.v) - AMA!

20.7k sats \ 62 comments \ @adamobrien 27 Nov AMA

I'm always excited to chat with fellow plebs about the ins/outs of operating a non-custodial bitcoin platform in Canada and USA.

You can find me @adamobrien_ on X or adam @btcw.app on NOSTR (NIP-05 > npub)
You can signup for Bitcoin Well at bitcoinwell.com/adam and get a chance to win 1,000,000 sats
You can ask me LITERALLY ANYTHING down below

See you in the chat!

view all related items

43 sats \ 1 reply \ @satoshiplanet 27 Nov

Adam, you've cracked open a portal where Bitcoin directly powers everyday financial tools, bypassing banks entirely, a vision straight out of a cyberpunk novel. When the masses are still tethered to traditional systems, what’s the biggest resistance you've faced in shifting them to this decentralized utopia? Is it their reliance on banks, their lack of understanding of Bitcoin's potential, or the clunkiness of some tools? And with that in mind, how do you see Bitcoin Well evolving into a sleek, frictionless interface that turns even the most skeptical normie into a true financial sovereign?

30 sats \ 0 replies \ @adamobrien OP 27 Nov

This is something I think about daily. What can we do to further advance the mission to more people.

Honestly, I think it's empowering a network of plebs to orange-pill their networks. Our greatest strength is thinking outside the box and conceptualizing a unique way to be a conduit between Bitcoin and Trad Fi (while it lasts). That said, we think in terms of bitcoin, not fiat, and our product is sometimes ahead of it's time. I am the biggest power user on our platform, because I NEED to us it every day to live the life that I want to live.

We need our fellow bitcoiners to be using our platform, offering feedback and insights to make it better. I am inspired by Jeff Bezos here - he made Amazon the number one shopping place not with clean UI and a big marketing dept, but by giving people the ability to make money with amazon as a reseller.

We are actively looking at ways to engage our community more, and more importantly give that community the ability to stack sats (privately) while doing it.

11 sats \ 1 reply \ @IamSINGLE 27 Nov

What are views about Nostr? Can it replace the current social media giants? If yes, how?

33 sats \ 0 replies \ @adamobrien OP 27 Nov

LOVE nostr. Reminds me of the early bitcoin days.

I think it will replace social media for the next generation, but not for ours. It is absolutely the modern day printing press - and will change the world as such.

12 sats \ 1 reply \ @j7hB75 27 Nov

Is there a way to view which companies you can pay bills before signing up? If not, I think that would be helpful for potential new users. Also, as a non-Canadian it might helpful to point out that bill pay is only available to Canadians. Correct me if I’m wrong though. Very awesome service with a lot of potential!

1 sat \ 0 replies \ @adamobrien OP 27 Nov freebie

We're working to bring that to the USA! Just easier said than done unfortunately.

But that's a good point - we'll take it into account to allow you to search which billers are available! Good call - thank you!

1 sat \ 1 reply \ @Imyourfed 27 Nov

What are some of the most innovative projects or initiatives currently being developed at Bitcoin Well?

6 sats \ 0 replies \ @adamobrien OP 27 Nov freebie

I think our NOSTR initiatives are top notch. Unlike anything currently being done.

Coming immediately - deposit your paycheque ;)

1 sat \ 1 reply \ @Imyourfed 27 Nov

How does Bitcoin Well stay ahead of technological advancements in the bitcoin space?

5 sats \ 0 replies \ @adamobrien OP 27 Nov

I'm deeply curious about bitcoin and am pretty involved in the space. Lots of my time is spent lurking in bitcoin chats and at meetups.

I usually hear about problems with bitcoin, which force me to look for solutions, or advancements, which force me to think about integration.

All in all, it's mostly because I'm a bitcoiner lol

1 sat \ 1 reply \ @k00b 27 Nov

What's your favorite Canadian bitcoin company other than your own?

167 sats \ 0 replies \ @adamobrien OP 27 Nov

I think CoinOS is good. Different than Bitcoin Well - but solid founder with a good mission and spreading P2P adoption. Net positive for the space.

1 sat \ 1 reply \ @Imyourfed 27 Nov

What are some of the most exciting developments or trends in the Bitcoin space that you're currently excited about?

6 sats \ 0 replies \ @adamobrien OP 27 Nov

I really like the Silent Payment Address that couples convenience and privacy.

More broadly, I think the push on privacy + spendability is positive. Even platforms like this that couple "login with lightning" and nostr and other freedom/censorship resistant protocols.

I think Bitcoin started a wave of protocol > platform minded individuals.

1 sat \ 3 replies \ @grayruby 27 Nov

When did you go public?

41 sats \ 2 replies \ @adamobrien OP 27 Nov

We started in January 2020 and finally launched August 2021.

It was painful. Still not sure if it was worth it.

That said, our stock has outperformed bitcoin this year, so thats cool.

1 sat \ 1 reply \ @grayruby 27 Nov

Are you holding bitcoin on the balance sheet?

73 sats \ 0 replies \ @adamobrien OP 27 Nov freebie

Not yet - we are focused on paying back our debts and then stacking sats!

1 sat \ 1 reply \ @Imyourfed 27 Nov

A significant barrier to Bitcoin adoption is a lack of understanding among the masses. What role does Bitcoin Well play in addressing this educational gap?

6 sats \ 0 replies \ @adamobrien OP 27 Nov

We (especially myself personally) spend a lot of time educating and supporting meetups. This is important to me.

We developed a curriculum, called Bitcoin Academy, that was live at a college for a few years. It still lives there at bitcoinwell.com/learn.

We ran into a bit of a budget snag investing a pile of cash into the Bitcoin Portal alongside some layoffs. Education is a key pillar to our business that we are excited to continue investing in. Likely through media and meetup support.

1 sat \ 2 replies \ @BitcoinIsTheFuture 27 Nov

Thanks for joining us! What excites you most about the next year and what do you see as the biggest headwind?

22 sats \ 1 reply \ @adamobrien OP 27 Nov

Headwind will also be the tailwind - ETFs/Wallstreet/Government

The more people that come for NGU, the less people that come for freedom. Sure, this might mean more people "owning" bitcoin, but it will mean more people owning paper bitcoin (held outside of self custody)

IMO - we do not need to race towards mass adoption. This is high time preference behaviour. We need more maxis that have low time preference building products and services that launch us into a sovereign environment.

1 sat \ 0 replies \ @BitcoinIsTheFuture 28 Nov

Great points! I’m trying to do my part and tell my story to others to help them believe! Good luck!

1 sat \ 1 reply \ @Imyourfed 27 Nov

What was the exact 'aha!' moment when you decided Bitcoin was more than just a digital currency and became a movement worth dedicating your life to?

1 sat \ 0 replies \ @adamobrien OP 27 Nov

I don't know if I had an "aha" moment. But I was certainly radicalized by my family's mistreatment of the banking system.

I started getting de-banked in Canada in 2015. I was forced to use expensive, dangerous and inefficient methods to move money - which was scary and annoying. It became clear that, that system was not going to play nice and that I probably wasn't going to be the only one going through that, I was just one of the first.

I knew I wanted to make a difference - and enabling independence via Bitcoin felt like the way to do it.

1 sat \ 1 reply \ @k00b 27 Nov

What's the most surprising thing you learned building Bitcoin Well?

142 sats \ 0 replies \ @adamobrien OP 27 Nov

How few people know "anything."

I've hired people with no experience that have vastly out performed fancy degrees and decades of experience. Bitcoin is a different breed and the people passionate or interested working in it are different - for the better.

The process of going public was hilarious. It was the final straw for any hope/respect in the bureaucratic and legal system. Very politicized and proof of stake.

1 sat \ 1 reply \ @benwehrman 27 Nov

Do you see Nostr intertwining with Bitcoin Well anytime in the future? Seems like there could be some strong potential there...

172 sats \ 0 replies \ @adamobrien OP 27 Nov

YES! We've been chatting internally about how NOSTR fixes a lot of the problems we face with UI and censorship.

For example, our SMS provider has started blocking our external SMS messages. Makes it hard to verify phone numbers and communicate via text. NOSTR FIXES THIS.

I want to be able to reward people for posting/engaging with us. ZAPS ENABLE THIS.

I'm super bullish on decentralized social network protocols. We'll be integrating slowly in ways you won't expect over the next few years.

1 sat \ 1 reply \ @benwehrman 27 Nov

From what you've seen behind the scenes...are you more bullish on mass bitcoin adoption in USA or Canada?

And which do you think will be first to adopt BTC on a nation state level?

72 sats \ 0 replies \ @adamobrien OP 27 Nov

Canada has one of, if not THE, highest per-capita bitcoiners. Our community is strong - because it needs to be.

The Canadian monetary system is horrific and dangerous, which breeds bitcoin entrepreneurs.

I think it looks like USA is on the horizon of becoming the first nation state. That's pretty cool, but not that important for bitcoin. More important is PLEBS (like you and I) adopting bitcoin and moving the world closer to a bitcoin standard.

1 sat \ 1 reply \ @k00b 27 Nov

What's something you believe about bitcoin that few bitcoiners agree with?

214 sats \ 0 replies \ @adamobrien OP 27 Nov

We aren't ready for mass adoption.

I think the world will undergo an immense amount of turbulence before mass adoption. As a result, I disagree with the "ACCELERATE" camp and think we should all be very very focused on building the infrastructure to capture the mass market.

Bitcoin is objectively worse at everything except being a store of value compared to the fiat ecosystem. We have a lot of building to do!

1 sat \ 1 reply \ @Imyourfed 27 Nov

Bitcoin Well emphasizes making Bitcoin accessible and user-friendly. What's the biggest challenge you've faced in convincing skeptics, and how do you see mass adoption playing out in the next 5 years?

6 sats \ 0 replies \ @adamobrien OP 27 Nov

SELF CUSTODY!

The education curve being a non custodial platform is extreme. People aren't used to taking custody of their assets - and custodial bitcoin/crypto platforms have made that problem worse imo.

From a higher level, I find skeptics disappear when:

NGU
tyranny

NGU is high time preference and doesn't stick around. Tyranny (like we saw during the trucker protest and covid etc) have a better "conversion rate". I know a lot of people that said "i didn't realize how powerful bitcoin is until the trucker protest in Canada"

Mass adoption will come as more nations and businesses look to save their value in bitcoin. I just hope people realize the importance of self custody.

1 sat \ 2 replies \ @benwehrman 27 Nov

If you're allowed to share...what's the biggest OTC smash buy you've ever seen on your platform?

72 sats \ 1 reply \ @adamobrien OP 27 Nov

We had a $20,000,000 order once. It was super fun to process. A pile of bitcoin OGs huddling around a computer triple/quadruple checking the address. Not just the first 6, last 6. THE ENTIRE ADDRESS.

The nice thing about bitcoin is that it's not undoable. So we knew and considered the finality of the transaction and treated it with respect! It's kind of nice... bitcoin forces you to respect. Fiat forces you to be disrespectful.

We all had a pleb pizza afterwards and it was a great day.

0 sats \ 0 replies \ @benwehrman 27 Nov

that was me, you're welcome for the excuse to eat some pizza

0 sats \ 1 reply \ @BlokchainB 27 Nov

Do you guys do DCA via ACH for USA customers? I am with Swan and they kind of screwed me this month

11 sats \ 0 replies \ @adamobrien OP 27 Nov freebie

Not yet - we are buliding out our Lightning Infrastructure first.

I believe DCA on chain is punitive, need to get LN going first.

0 sats \ 1 reply \ @satoshiplanet 27 Nov

I suspect that one of the most challenging tasks as a bitcoin entrepreneur is finding funds for your idea. At this point, what do you recommend to other fellow bitcoiners starting their own bitcoin company without the necessary resources to build a team?

1 sat \ 0 replies \ @adamobrien OP 27 Nov

Start small. build your team of co-founders who will be as committed as you. Really highlight the reason your company exists (mission).

I will never part with my bitcoin because I think there are "better investments". I part with my bitcoin because you are going to change the world.

Bitcoiners are passionate about changing the world, and we part with sats to do so.

0 sats \ 1 reply \ @Aardvark 27 Nov

I see that everyone's afraid to ask the real hard hitting questions, but I'm not going to hold back on you.

If your dad were a dollar bill, and your mom was a cash register, how many pancakes would it take to shingle a dog house?

Bonus points if you answer in standard and metric pancakes.

0 sats \ 0 replies \ @adamobrien OP 27 Nov freebie

This is simple.

21 pancakes AS LONG as they are made with free-range chicken eggs and accompanied with steak as a flooring system.

0 sats \ 1 reply \ @Imyourfed 27 Nov

Can you share a success story where Bitcoin Well made a significant positive impact on an individual or business?

5 sats \ 0 replies \ @adamobrien OP 27 Nov

Immediately I think back to a text i received in 2018/2019 ish.

He said something to the effect of "thank you so much for steering me away from alt coins and towards bitcoin in self custody. You forced me to remove my bitcoin from Quadriga (basically the FTX of Canada) and sell all the alt coins that are now worthless."

2 years later (peak 2021) he messaged again saying "I can basically retire and live a life I never thought possible thanks to you"

Ultimately, I had very little to do with it. He's a diamond handed beauty, I just steering him in that direction. But messages like this remind me how important our mission is and make all the long hours and sacrifice worth it.

0 sats \ 1 reply \ @Fiat_Revelation 27 Nov

Hi Adam, fellow Canuck. I use your services to pay my bills. Does Bitcoin Well have any plans to implement a Bitwage type service? Also, what is the most important consideratuon for entrepreneurs thinking about accepting bitcoin in Canada? Cheers bud!

33 sats \ 0 replies \ @adamobrien OP 27 Nov

YES - we'll allow you to take payroll via bitcoin and have a portion (or all if you a mega bull) directly into self custody and deposit the rest into your bank account. The benefit here is the banks can't deny it!

I think accepting bitcoin is a small but meaningful step. They should think about "why" they are wanting to do it. Finding ways to keep the bitcoin you stack and also maintain privacy is amazing.

For example, if you take bitcoin, but tell the "register" you're taking cash then you essentially have KYC free bitcoin. VERY NICE.

0 sats \ 2 replies \ @Coinsreporter 27 Nov

What's your favourite sport and why? How do you think sports can take Bitcoin adoption to unprecedented levels rapidly?

20 sats \ 1 reply \ @adamobrien OP 27 Nov

To play - golf To watch - football To coach - hockey

Golf is equal parts mental as it is physical. If you've seen me, you'll know that I'm pretty small (5'7", 160lb or so). That said, I hit the ball farther than most people I play with, and am a pretty good golfer. I love that.

I haven't thought much about sports x bitcoin. The areas that include money (sponsorship and gambling) seem obvious. Deeper than that, I'm not too sure! What do you think?

0 sats \ 0 replies \ @Coinsreporter 27 Nov

Golf is a pretty good choice, I'm exactly the height and weigh as yours is. I also hit the ball farther than most people I play Cricket with.

Sports x Bitcoin; I mean the way some of the sports are celebrated like religion, it'd be easier, cheaper and faster for Bitcoin to get into the minds of people everywhere. I'm saying this because I'm from India and I see that everyone here knows the rules of cricket but there are few who can tell you what is Bitcoin.

0 sats \ 1 reply \ @Imyourfed 27 Nov

You can ask me LITERALLY ANYTHING down below

Mr. Adam, this might be a bit off-topic, but I'm curious to know - what's your favorite dish and your top travel destination?

5 sats \ 0 replies \ @adamobrien OP 27 Nov

Dish (food) - steak. Dish (type) - those big wide bowl/plates. I've eaten everything from steak to bone broth out of those. Very versatile.

Travel destination - honestly the first thing that comes to mind is Disney World LOL.

My wife and I have taken our kids when they turn 5 to Disney World and I've fallen in love. The rides are incredible but I marvel at the business operations. As someone with a high attention to detail it is so incredible to witness. Don't knock it til you've tried it (or have come with me - because lots of people don't do it right)

Admittedly, I'm not inspired to "see" the world. I am lucky to have the ability to travel wherever I want to - but rarely do unless there is a reason to go. That reason is usually bitcoin related. I have really enjoyed seeing Bitcoin Jungle (Cost Rica), Bitcoin Lake (Guatemala) and Bitcoin beach (El Salvador) over the last few years. I will continue going to these bitcoin circular economies to learn how to bring that energy back to Canada.

0 sats \ 1 reply \ @k00b 27 Nov

Smartest person you've ever met?

247 sats \ 0 replies \ @adamobrien OP 27 Nov

Woah, great question.

I have a hard time answering this because I have never met someone that is "smart" in all areas.

I look to different people for business advice, bitcoin advice, life advice, jesus-related advice, love life, parenting etc.

That said, specifically to the Bitcoin business I think conversations with @BitcoinBrains (Dave Bradley) have been most impactful. Even though he is quite ugly and not very strong (contrary to what you might hear him say)

0 sats \ 1 reply \ @Imyourfed 27 Nov

Many governments are creating frameworks to regulate Bitcoin. What is your ideal regulatory environment for Bitcoin, and how would you navigate regions with opposing stances?

1 sat \ 0 replies \ @adamobrien OP 27 Nov

I have always been pretty good at expanding the "box" that I'm given. I also am committed to our mission of enabling independence.

I think, ideally speaking, governments leave bitcoin alone. That said, the cobra effect is real and I am a cobra farmer! This means I will always find ways to take the guideline, find the legal framework to work within, and work towards our mission to enable independence.

Regions with opposing stances are either not free (which make it tough for us to navigate) or have a set of rules that we can "slither" our way into and help to give the people freedom money.

We choose our regions based on a calculation of ROI and importance. We recently expanded into the USA. High ROI, but also, there are NO non custodial platforms in the USA. We are the only one. This makes it an important geography for us.

0 sats \ 2 replies \ @Imyourfed 27 Nov

I have two questions in one comment!

1 What’s the most unconventional lesson Bitcoin has taught you about business and life, and how has it shaped your leadership at Bitcoin Well?

2 Bitcoin is often seen as a tool for financial freedom, especially in unbanked regions. What specific steps is Bitcoin Well taking to make Bitcoin accessible in such areas?

5 sats \ 0 replies \ @adamobrien OP 27 Nov

We are pretty focused on Canada/USA right now. I think that unbanked regions benefit from bitcoin natively, but the fact that they are unbanked are typically due to corrupt/centralized monetary environments.

We are working on privacy enhancing features (little things like swaps/cash vouchers, etc) that can be used in a pre verification state.

Ultimately, I think P2P is the best way to preserve privacy and help the unbanked (and yes, that is foreshadowing to some of our efforts coming down the line 😉)

5 sats \ 0 replies \ @adamobrien OP 27 Nov

TIME PREFERENCE!

This is not something I thought about before getting into bitcoin. Understanding the cost of the future against the cost of the present has probably single handedly made me the entrepreneur, husband, father and man that I am today.

As far as shaping my leadership, I am a better teacher and leader because of it. I have a clean view on the cost of "rushing" vs the opportunity cost of "urgency".

0 sats \ 1 reply \ @adamobrien OP 27 Nov freebie

I have to jump in a meeting now, but feel free to ask some more Qs! I'll answer when I get back in 30 or so

Thanks to everyone who has joined already - this was a lot of fun!