2021 Wrap Up!

Hello! Thanks for visiting.

I just wanted to take a moment and write a 2021 summary for the first full year of Hoosier Hodl.

By making business cards and handing them out wherever we went, we were able to initiate and engage in some incredible conversations with small business owners around Southern Indiana. Business owners expressed frustrations with high credit card machine fees, troubles making accurate pricing for goods and services due to shortages of materials, staffing, and logistics, and general understanding that the inflation of the United States Dollar is taking its toll.

Many small business did not make it through the COVID-19 pandemic, and the ones that did are still scraping by on thin margins and lots of personal labor hours. When we engaged with owners about accepting Bitcoin, they instantly have great questions. Never did we meet an owner that was not genuinely interested in learning more options for their customers to pay. The small business owner is more in-tune with the economy than nearly all large corporations and economists, which make them the perfect candidate to learn about better money.

By interacting with these owners and founders, we have learned a few things:

-Small businesses are open to more options for their customers

-Small businesses are more agile than large corporations in offering alternate payment methods

-Bitcoin is difficult to explain in a 5 minute meet-and-greet, and these owners often do not have much time to devote to a new currency protocol

-On-chain transactions are by-far easier to understand. Obviously, with replace-by-fee transactions, this can require a bit of trust from the customer. Lightning applications are very efficient once the infrastructure is in place, but without a deep understanding of the tools, keeping channels maintained is relatively advanced for a busy businesses owner.

-We are still looking for that “killer app”. BTC Pay Server is incredible and is 90% of what we need. But the lightning management issues still need to be tackled OR management services outsourced to an entity like Hoosier Hodl.

-Capital gains tax confusion and clarity are a major draw-back to business owners who do not need another tax to account for.

For 2022, we will continue to reach out to business owners in Indiana wherever we go. We will continue to help guide the questions that owners have, as well as help them implement hardware or software that they might need. We intend to be more developed on BTC Pay Server instances as well as becoming proficient with Zaprite Bitcoin invoicing software as an alternative to BTC Pay Server. We will also be working on our “elevator pitch” so we can be more impact with the short time we are given to busy owners.

If you are business owner that has been in contact with Hoosier Hodl this year, please feel free to reach out and give us your feedback on our 2021 and impressions of interacting with us! We are hoping 2022 brings much more learning and growth of the Bitcoin economy in Indiana!


Hoosier Hodl