Kyle -- 151d You’re right. You can lose time and value in the short term. I’ve lived on a Bitcoin standard since late August. Here are some tips and tricks that I’ve learned in the past 90 days: 1. Put your entirely monthly spend on credit cards - In my opinion, this is the only way that the live on Bitcoin standard works. Use credit cards with generous cash back or travel miles benefits. This can help eat or offset any small dips in price for the month when you pay your credit card bill. 2. Do not pay the minimum only - Pay off your credit cards in full every month. I made the mistake of maxing my cards over the past few months trying to acquire as much bitcoin as possible in preparation for the 150k-200k price everyone was anticipating. Instead, bitcoin dropped into the 80s and I’ve had to sell at a loss. 3. It helps to have Bitcoin in reserve - I stacked for years before considering doing this. This can help make you whole if you’re negative. Unfortunately, you have to sell the sats to do so. 4. Live within your means - Don’t overspend on credit. Spend less than you earn and living on a Bitcoin standard is possible. 5. DCA - You should be DCAing daily or hourly in addition to the weekly or biweekly smash buys your paychecks purchase for you. DCAing gives you exposure to all the variations of Bitcoin’s price that way large portions of your wealth are not locked in at a fixed price point. replyYou’re right. You can lose time and value in the short term. I’ve lived on a Bitcoin standard since late August. Here are some tips and tricks that I’ve learned in the past 90 days: 1. Put your entirely monthly spend on credit cards - In my opinion, this is the only way that the live on Bitcoin standard works. Use credit cards with generous cash back or travel miles benefits. This can help eat or offset any small dips in price for the month when you pay your credit card bill. 2. Do not pay the minimum only - Pay off your credit cards in full every month. I made the mistake of maxing my cards over the past few months trying to acquire as much bitcoin as possible in preparation for the 150k-200k price everyone was anticipating. Instead, bitcoin dropped into the 80s and I’ve had to sell at a loss. 3. It helps to have Bitcoin in reserve - I stacked for years before considering doing this. This can help make you whole if you’re negative. Unfortunately, you have to sell the sats to do so. 4. Live within your means - Don’t overspend on credit. Spend less than you earn and living on a Bitcoin standard is possible. 5. DCA - You should be DCAing daily or hourly in addition to the weekly or biweekly smash buys your paychecks purchase for you. DCAing gives you exposure to all the variations of Bitcoin’s price that way large portions of your wealth are not locked in at a fixed price point.
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What can living on a Bitcoin standard do for you?It lets you take back control of your time. An example from my own life is shown below. This amount is my latestpaycheck. I’ve become 5% wealthier since I was paid. This equates to 3.43 hours that I’ve reclaimed for myself.nostr:nprofile1qqsvn0dkjt80raqrxd470c98n7zrdehmcvj6p5hgw3kyku6zyd8z0fqpz3mhxue69uhhyetvv9ujuerpd46hxtnfduq3qamnwvaz7tmwdaehgu3wwa5kuegufe9k5 nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vlehttps://blossom.primal.net/de26025bed5b1a2faed7c4a8121c21fe96f278c4426ab18241682335588360b7.jpg
It’s also very important (IMO) to understand that your check can decrease 5%+, too.I think that’s what scares people when I talk about living on a Bitcoin standard. What they don’t realize isthat your next paycheck may go up 5%+, too.You’re playing the volatility and over time, it’s always in your favor. If history has shown us anything.
You’re right. You can lose time and value in the short term.I’ve lived on a Bitcoin standard since late August. Here are some tips and tricks that I’ve learned in the past90 days:1. Put your entirely monthly spend on credit cards - In my opinion, this is the only way that the live onBitcoin standard works. Use credit cards with generous cash back or travel miles benefits. This can help eat oroffset any small dips in price for the month when you pay your credit card bill.2. Do not pay the minimum only - Pay off your credit cards in full every month. I made the mistake of maxing mycards over the past few months trying to acquire as much bitcoin as possible in preparation for the 150k-200kprice everyone was anticipating. Instead, bitcoin dropped into the 80s and I’ve had to sell at a loss.3. It helps to have Bitcoin in reserve - I stacked for years before considering doing this. This can help makeyou whole if you’re negative. Unfortunately, you have to sell the sats to do so.4. Live within your means - Don’t overspend on credit. Spend less than you earn and living on a Bitcoin standardis possible.5. DCA - You should be DCAing daily or hourly in addition to the weekly or biweekly smash buys your paycheckspurchase for you. DCAing gives you exposure to all the variations of Bitcoin’s price that way large portions ofyour wealth are not locked in at a fixed price point.
It’s also very important (IMO) to understand that your check can decrease 5%+, too.
I think that’s what scares people when I talk about living on a Bitcoin standard. What they don’t realize is that your next paycheck may go up 5%+, too.
You’re playing the volatility and over time, it’s always in your favor. If history has shown us anything.