Nostr Web Client

Replying to

BlessedBovine

For those in the United States who are 100% off the USD and are #Bitcoin only:

How do you budget?

How do you know the amount of #Sats you need to meet your expenses each month?

What's the most useful service to take care of #Fiat bills?

How do you get paid?

How do you account for federal tax purposes?

It makes sense to put everything on a credit card, and pay that off by liquidating #Sats that have been held for more than one year each month. However I'm struggling with the concept of making mortgage payments and the like. Unless you keep a separate open line of credit for that.

Interested to hear what US citizens have worked out for that...

#BTC #Nostr #AskNostr #Boom #Booming #Boomed #BitcoinStandard

will 1y ago

There is not 1 approach for all

Personally, I am ~100% #bitcoin and have been for years

Using it as a highly-liquid savings account is amazing because you can get fiat conversion, in your bank account SAME DAY

Therefore my thought is KISS, and just use it like a savings account and liquidate whenever you need it (always as a last resort)

Being 100% bitcoin allows you to remove the market timing worry and remove speculation from your playbook. Actually I still speculate in terms of simply increasing my spending frequency during peaks/runs of the bull market. No stress at all!

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Discussion

BlessedBovine 1y ago

Thank you. As of now, we (wife and I) get paid in USD anyways. We've been putting out paychecks in our bank account, divvying it up into monthly expenses and savings. Savings can be converted to Bitcoin, no need to sell unless there is some major unexpected expense.

nostr:nprofile1qqsza56ed667de7q6mu6uxspetg7gzadqtkeug3plserzcj2nz6vc7qpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhszv44jd looks like they're rolling out more services to US Citizens. The instant lightning sells to a bank account seems to effectively cure the need for quick same day fiat. If we want to put everything into Bitcoin. I'd love to see a bill pay service though.

Bitcoin Well 1y ago

Our Canadian product line up is brimming with convenient and fast ways to use your bitcoin. Lightning buy/sell, pay bills and swap between LN and on-chain.

All of this and more will be coming to the US very soon.

In fact, in the US we just launched instant bitcoin buys (lock in rates while funding) and OTC to enable large purchases for individuals and business.

BlessedBovine 1y ago

I've been really pleased with your platform. I look forward to more of the Canadian exclusive services coming to the USA. I also would like to see nostr:nprofile1qqst0dgucffpd4xpp0y94cns2hy6j307wl90633u7gajpyt7888xs9spz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsu0kkyx stay out of jail, so I'll maintain a high time preference. :)

Adam O’Brien 1y ago

My wife will appreciate you <3