An interview with Dallas Rushing on consumer adoption of bitcoin

“Anyone's perception of bitcoin is ultimately limited to the tools that you use to interact with it. So I wanted to create a better tool that I wasn’t seeing in the world.”

“My first entrepreneurial endeavour I had a candy business in high school”

Dallas’ discovered bitcoin through a friend in late 2015/2016 - immediately captivated and excited about its growth potential.

With a background from being a high school athlete combined with his hard working and entrepreneurial learning-as-you-go mindset he started a YouTube channel focused on content around bitcoin. A great way to educate himself, gain knowledge and teach it further.

When asked to recommend what apps to use, Dallas found himself disappointed with the existing bitcoin apps on the market - feeling they were all falling short in one of several areas or missing features he would have liked.

This brought him on the mission to create a better tool that he was not seeing existed and he started building the Satoshi app.Link to: https://satoshi.money/

“Satoshi is the bitcoin app built for everyone’’

The core idea with Satoshi was to have everything a user would want in one place, one super app, while making bitcoin fun, intuitive as well as providing a visually appealing user experience. Identifying the most important and core features then shaping the product over time.

Dallas highlights four principles that differentiate Satoshi from other wallets; Convenience, design, optionality, and incentives.

• “Convenience; making bitcoin fun and intuitive - giving people the ability to pick their own path. If you're using three, four, five different apps you forget where everything is and you buy some bitcoin you have to use a different wallet just to custody it. We've put all that in one spot so that you don't need to go manage five or six different apps. Leading with an app users want to stay and have an incentive to do so.

• “Design; we think we've got a design that's both fun and intuitive for people. Easy access to core features as well as a visually satisfying experience.

• “Optionality; so you can pick your path. You can stay completely non-custodial, hold your own funds or if you're somebody who wants to start buying you don't want to hold your own bitcoin you can do so in a way that we want to make that as secure as possible for people who would prefer that path.

• “Incentives; for people to stay a user and wanting to bring in their friends because they have an incentive to do so. Both the earn and refer features give them that feedback of being active and earning more sats. By adding value you get value in return.”

Four reasons why bitcoin was created

In order to focus on bringing more people onto bitcoin - the biggest challenge for consumer adoption in 2024 is educating different types of groups to understand the benefits and how bitcoin solves their problems. As well as the reasons why bitcoin exists in the first place.

1. “First of all we needed money with a fixed supply that was separate from any ruler, any government, so that we can actually benefit from technology that's driving prices down and we're not just stuck with the money that is issued by the country which we were born in.

2. “The second point is protecting the ability to be able to send and receive money without having to ask for permission.

3. “The third, and maybe a controversial one, is protecting the ability to hold your own value without it being seized or frozen. Money in a bank account is under your ID but it's always somebody else's willingness to give it back to you or let you use it and I think bitcoin really solves that.

4. “Finally, many people in the world today still don't have bank accounts. With bitcoin you click a button and you've got a place to send and receive money.”

Watch the full interviewLink to: https://youtu.be/aBBG4iVomEg?si=bgF7lSrQoshuHdsu or visit our YouTube channelLink to: https://azte.co/youtube for more interviews.