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I don't think we're talking the same thing? I pay my mortgage after loading the payment amount into fold. Then I log into my mortgage company and set up an ACH using the bank that is attached with fold. The payment is made in fiat and I earn a reward. It's currently 0.05%.

So my mortgage payment never hits bitcoin.

Secondly the Rewards stack I have no plans on ever selling. I can transfer the rewards to self custody anytime. When I get up to 1mil Sats I'll probably move it to self custody.

So I think you may be thinking about something else?

Fred Johnston 10mo ago

Okay - I got it. There are two ways to pay bills.

1. you can keep the money in fiat and pay via fiat.

2. You can put your money in Bitcoin and then pay bills via Bitcoin.

I guess I just assumed if you are using Fold that the idea is to keep the money in Bitcoin, mostly. But if you are just using Fold as a US$ cash account - then the Bitcoin sell fees (through spread) would not apply.

But adding to this whole story - if you are keeping your fiat in cash on Fold, what percent do you make? On Etrade I have free bill pay and I get 3% interest.

I get it - try to support the Bitcoin ecosystem. Still working on it. I'm nearly 100% Bitcoin so about the only thing left is checking, a ROTH IRA, and the bill paying in the fiat system.

It will come eventually!

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Discussion

Michael S Wildcard ✨ 😶‍🌫️🗽⚡ 10mo ago

I don't store much on fold, only my monthly spends, so besides the mortgage and food we buy... Otherwise I don't keep that. Much on it.

I keep a majority of my "fiat savings" in whole life insurance... Aka The Infinite Banking Concept or Becoming your Own Banker.

Fred Johnston 10mo ago

Interesting. From Whole Life to Bitcoin.

My step dad sold Whole Life - made a shit load of money. But I suppose if you have a ton of money it would work out well.

I do worry about the insurance companies due to the bond exposure. Interest rates and money printing have flipped the long term trend and Insurance/banking was one of the primary beneficiaries of the current 50 years system coming to an end.

Michael S Wildcard ✨ 😶‍🌫️🗽⚡ 10mo ago

There is that, but if there is any company with the most experience in bond management it's insurance companies. This is where I'm trying to bridge the gap with fiat and bitcoin. I haven't borrowed against my cash value to but bitcoin (though I almost did when it was $16k)

But using whole life to stack your fiat makes more sense than commercial banking.