Replying to Avatar oldmarvel

I’m considering whether it makes sense to convert my monthly budget for variable expenses into sats on e.g. Bitpanda and then spend them with their credit card. #asknostr Currently, I use a regular credit card for my monthly expenses. This way, if the price drops, I can consume less that month, and if it rises, I increase my purchasing power.

My savings in #Bitcoin, of course, go into cold storage regardless. I’d love to hear opinions on this approach!
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mike 1y ago

My suggestion, reserve what you need for expenses in fiat each month, plus at little extra for emergencies.

Move everything else to Bitcoin. If you want to treat yourself use a card that converts your Bitcoin on the fly to fiat so you know that all the extras in life are courtesy of Satoshi.

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oldmarvel 1y ago

Thanks for the suggestion! Currently, I plan my fixed costs from my salary first. Then, I save a set amount in Bitcoin, and what’s left for living expenses covers my variable costs—like food, wine, gifts for the kids, etc.

I would use a card like you described for those expenses. Of course, this would only work as long as the price doesn’t crash. If it does, I’d have to stick to fiat for my variable costs.

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oldmarvel 1y ago

I just watched the video from nostr:npub1rxysxnjkhrmqd3ey73dp9n5y5yvyzcs64acc9g0k2epcpwwyya4spvhnp8 , and it's amazing how he echoes my thoughts—4 years before I even had them! 😂 I'm going to test this out by putting my budget for variable monthly expenses on a credit card that automatically converts #Bitcoin to euros when I make a payment. Excited to see how it goes!