Preheat your smoker to 250 degrees. As mentioned, basically any wood is fine for this recipe. Fruity woods take our preference, but that’s just us.
Preheat a hefty cast-iron pan over high heat. Cook the bacon pieces on each side for about 3-4 minutes. You want to render out almost all of the fat, but not overcook or crisp the bacon.
Remove the bacon pieces, and place them on a dry paper towel, reserving the bacon fat in the pan. Cook the onions in that bacon fat. You want them translucent and softened -- not brown or caramelized.
Pour the cans of beans into the pan. Add your barbecue sauce, brown sugar, cayenne, apple cider vinegar, Dijon mustard, and molasses. Stir and simmer for about five minutes, just to incorporate all of the flavors.
Put the slices of bacon on top of the beans, in whatever awesome pattern you choose, and bring your whole setup over to the smoker.
Smoke this bad boy for about 3 hours, uncovered. Any remaining fat is going to seep off the bacon and into the bean mixture, creating a veritable symphony of smokey, bacony, beany flavor.