Replying to Jittering Blender

Did you use bitcoin to buy your home? I was thinking about using it as long term savings to fully pay for a home without needing a mortgage. My slight concern is liquidity when needing to sell the bitcoin at the time of buying when using coinjoined sats.

As to your comment about coming full circle, I feel like I didn’t appreciate the specialness of bitcoin as property until recently. You need my private key to take sats from me. Meanwhile, the government can take my home due to imminent domain or if I don’t continue paying property taxes, which could be seen as paying rent to the government.
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Hurvajs Rumcajs 2y ago

Keep your bitcoin as a backup in case your income to pay the mortgage is temporarily disrupted. Use the fiat credit/debt system in your advantage, while holding onto your precious sats. You really want to pay your mortgage as slowly as possible.

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Jittering Blender 2y ago

I can see how leveraging the fiat credit/debt system while holding sats is a sensible approach. Even in the case of a default, your sats cannot be confiscated as long as the private key material remains solely in your possession.

For me, however, I place high value in not being bound to external parties in debt relationships. Dave Ramsey and my personal experiences with consumer financing has shaped my perspective in this regard.

I also believe that I store of value is only as good as your ability to spend it eventually.

Those two reasons shape my desire to fully purchase a home outright using bitcoin and bypass the lending system entirely.

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Hurvajs Rumcajs 2y ago

I understand, it is also what my intuition tells me. Fiat/debt thinking is not intuitive and one gets punished if you don't understand how it works. Being debt free is freedom though, no doubt about that.