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So if bitcoin pumps hard enough, do y’all think it makes sense to sell some of your stack to pay off most or all of your fiat debt? Not just cars or credit cards but also mortgage.

I’m currently conflicted, but also a long ways from the price where I even need to make the decision 😅

Keith 1y ago

The best way I heard it explained was: Bitcoin is forever money so you should only buy forever things with it. When I say forever things I mean like the pyramids of Egypt or the 2000 year old Roman aqueducts that are still in use today. Were any of the things you bought with a credit card going to last forever? The car certainly won’t.

For purposes of being reasonable let’s say that “forever” is the rest of one’s life. Is that the last home you will ever purchase? Then yes, paying off a mortgage now to stack more sats for the rest of your life would be pretty reasonable.

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Discussion

Currency of Distrust 1y ago

Ya I mean I actually don’t have credit card debt, was just using that as an example. I do like your point on the house, though. Our goal is to never move again, so that may be a good framework to work off of.

My thought is that you can not truly exit fiat while having debt. You can make the argument you’re “shorting the dollar”, but I have a strong desire to have 0 debt, so I’m not obligated to earn a certain amount every year. I’d rather live on a bitcoin standard where everything gets cheaper and I’m only paying for day to day expenses.

Keith 1y ago

I get it. I became debt free before I found bitcoin. I may have a different opinion if I were in your position. Regardless, the financially independent lifestyle doesn’t change much after you become debt free. Instead of paying bills you put the same money into investments.