First billpay on strike today was successful...
I'm super excited about beginning life "on 0."
Earned dollars come in - instantly converts to btc in my account - hold btc on strike much like a checking account - spend dollars using a credit card - pay bill with strike
Obviously you don't want your bags sitting on strike, but treating it as a checking account and transferring to your hardware wallet as a "DCA" periodically makes so much sense.
Anyone else doing this?
#asknostr
#strike
#bitcoin
That process sounds alot like earning fiat, converting it to bitcoin, giving that bitcoin back to strike, then they send fiat to pay your bills.
Why not just keep your bitcoin and pay bills with fiat yourself?
Because at no point am I having to hold dollars. I'm maximizing my exposure to btc while maintaining my ability to easily transact in dollars.
It's all very hands-off too. All of the steps of the process I laid out are done in the background by strike, including tax report generation at the end of the year.
Why do you need a tax report at the end of the year if the pentagon and IRS can't even pass audits themselves?
Cheekiness aside: It's not worth being put in a cage like an animal, taken away from my family, and stripped of my freedoms. The cost-benefit analysis doesn't work in my favor...
Con could be if in short term it drops and you are paying more for bills. Long term is better if pattern holds.
Agreed... Short term volatility is a factor, but that also potentially means reducing my tax burden. On net though, if bitcoin continues a general pattern of appreciation in value, then I'll wind up paying less in bills overall - sometimes more, but more times less.
Another factor is that strike uses HIFO, which minimizes gains while maximizing losses. Couple this with the fact that, at any given point I'm spending "last week's paycheck," it means my risk of volatility is limited to the price fluctuation of a rolling 7-day period.
In the words of Mallers: "Why would any man work for something that another man can print?"
nostr:nprofile1qqspnwm9vczju7ht9uxxn2my3gwgjfe4kn3a7jp0ftq3mc0mf0pvcsgpzdmhxue69uhhqatjwpkx2urpvuhx2ue0ywnggv you have some sweet points! ๐
nostr:nprofile1qqspnwm9vczju7ht9uxxn2my3gwgjfe4kn3a7jp0ftq3mc0mf0pvcsgpr9mhxue69uhhyetvv9ujuumwdae8gtnnda3kjctv9u3kszdl did. Has helpful info
