I haven't held fiat in years. 100% in #Bitcoin. Bills on credit card. I convert #Bitcoin to fiat once a month to pay it off. Not rocket science. Math checks out.
Discussion
This is the way 💯🚀
Hard to go wrong when you're all in.
Many who have an income still pay off their bills and shovel the rest into #Bitcoin.
If I wasn't retired this is what I would do.
You are leading the way 💯
I am still shoveling but thanks to #bitcoin I have clear path and direction for the first time!
Retired, sir.
If I was in El Salvador I would probably experiment with a #Bitcoin only startup. Wouldn't need a credit card to pay bills, either.
I sell you Bitcoin this month?
It could have happened.
Next month.
Ah, negative. Receiving fiat from anyone is going to dox my identity, so not an option.
Likewise, we could figure out something to obfuscate it.
Not interested: the fiat paper trail is too pervasive. As #Bitcoin economies grow, opportunities for this will, too.
Credit cards know your identity. And spending habits. And location. And share that data with agencies that typically ask where the money came from.
Yes. But they do not know that that identity is Laser.
They don’t care. Money spent is an identity in itself.
Large amounts of money send flags all over the place. I’ve dealt with it. Where the money came from is a question that gets asked and typically needs to be answered. Whether you like it or not. In the real world at least. It’s why Pablo had to use cash to stay warm. Also why the mafia can’t use banks with legitimizing.
The battle is real. Good on you for fighting.
*without*
I'm not trying to keep my person anonymous in real life, I'm just avoiding doxxing Laser for no good reason.
I hear you and same here.
I’m just not convinced of the no-KYC approach. I need to understand it more.
I’ve jumped in but still come back to the audit-ability & transparency of BTC & near impossibility of spending or owning remaining unknown. I get conjoin etc but need to spend more time on this.
Two seperate concerns:
1. It makes alot of sense to maintain a nym seperate from your legal identity given the rise of social credit. Not only is it a type of legitimate activism, but it allows the soul to express itself without fear of political persecution.
2. Unregistered sats, often called #NoKYC sats, if kept out of the fiat system, are unlikely to recieve confiscatory claims by the State. This makes them great for using to escape a pathological country (eg, genocide or enslavement), but also good for inheritance: your grandkids can obtain the #Bitcoin without a broke sovereign banging down their door.
I think many folks have KYC sats and that's okay, but at the same time: it's never too late to establish and grow a stack of unregistered sats.
What is your go-to for bitcoin to fiat conversion?
I like river.com to accomplish the exchange. Many like Strike. I'm keeping an eye on basebtc.com. Would be great to see credit card companies start accepting sats as a way to settle balances, too.
For unregistered sats, I do not recommend repatriating into the fiat system. Spend into the #Bitcoin economy, instead.
