To anyone saying "taxes", consider that you'd only be paying cap gains *on your gains*. At the end of the day, you still come out with more purchasing power than if you just held fiat (which is a guaranteed purchasing power decrease).
Go to around the 17 minute mark of this vid
What happens in a bear market when your Bitcoin keeps going down in value? When you look long-term, you know it’s going to have some downtime.
I'm interested to see how this plays out for me. I will choose one of the following:
Option A
1) Get paid (end of month paycheck), and withhold enough from pay to cover mortgage/rent on the 1st
2) Pay mortgage/rent (1st of month)
3) Sell the rest of our Fiat for Bitcoin
4) Spend on credit cards for living expenses (1st-end of month)
5) Get paid (mid month paycheck)
6) Pay off credit card last day of month
7) Sell Fiat from mid month paycheck for Bitcoin
Option B
1) Get paid
2) Pay bills
3) Sell Fiat for Bitcoin
Option C
1) Continue just doing what I'm already doing to live on a Bitcoin standard (see my previous post)
1. Make sure you have enough savings to cover a draw down (the idea being that over a long period of time, your savings purchasing power is greater than the last bear and you've stacked more says during that time)
2. If you're on a bitcoin standard for a long enough time, you will have more "gains" than "losses" in fiat terms
3. You can use bear "losses" to offset gains in the future!
I see, that makes sense. With something like Strike bill pay, your bills effectively get cheaper as Bitcoin's price rises. But during a bear market, when the price goes down, I initially thought that meant my bills would get more expensive that month. In reality, gains from the bull market should outweigh losses from the bear if you're thinking long-term. Bitcoin is a long game.
If you wanna think about more conservatively, measure from bear market lows!
100% I figured we need enough for at least an 80% drawdown. We also live below our monthly income, so we should be good on that end. Unless there's something major. We have long term credit lines that we could do minimum payments til it runs back up.
Income > expenses is definitely key, especially in drawdowns
nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle did you guys ever share the link for the calculator shown in this vid? Would be awesome to have for the plebs
