Just sell the Bitcoin to pay for things you want.
Don't take on debt for household necessities, that is some late stage capitalism shot and the most fiat BS imaginable.
Discussion
Fantastic. So don't use it.
Other may want use it. Who gives a shit? I don't work for Strike, so I don't care what people do, and I likely would never use it.
But there are a bunch of use cases people would want this individually and want short term loans. One of them is cap gains avoidance, particularly short term. By loaning against, you don't have cap gains.
The short term cap gains can be as high as 34%. So a 12% apr could be well worth the cost vs paying cap gains.
If Bitcoin is to become actual money, this will become more and more common, just as are helocs, mortgages, gold loans, loans against stocks, and so on.
People better get used to it. It's only going to become more financialized
One of the main reasons being cited by people is to avoid cap gains.
If "Bitcoin ... become[s] actual money" then surely there would no longer be cap gains? If there were no cap gains there would be less reason to persue this type of product.
Cap gains taxes were introduced in 1913 the same time they founded the Fed. It is a clear approach of asset stripping to introduce cap gains taxes and inflate asset values by increasing the money supply and encouraging everyone to borrow money at articially low interest rates.
Buy P2P KYC-free!
Starve the State!
Seperate money and State!
Don't fall for the traps!
#DontRiskItBisqIt
#KYCNotMe
Fantastic, however it is 2025, and Bitcoin is not cap gains free nor the global standard. The dollar and/or fiat will always exist. Not saying we don't eventually get no cap gains for under XX amount, but we aren't there.
I realize all places globally and within the US, people have different buying, stacking, ownership levels, but it is laughable to me to think that bisq can handle any reasonable amount of Bitcoin in a safe, untrusted way.
There isn't anywhere close to the liquidity needed for many of my needs.
There also isn't a good way to buy it en masse. Cash on the street? Or mail? Yeah, fuck that. Zelle? That's KYC. Revolut? Not really for the USs, and also kyc. Amazon gift cards? Lol, sure.
What do you propose to fix this?
Bisq is good enough liquidity for many plebs.
Doing $2-4k a month P2P is feasible. Is it as easy as Strike? Of course not.
I don't normally get dragged into back and forths with people online. It is not productive.
I believe we agree much more than we disagree, so take that into account when reading and responding.
Should you be spending your time and energy arguing against purchasing Bitcoin P2P? Sure, arguments can be made against it but leave that work to the SDNY.