Strike Bill Pay seems not worth it.
If you have $1000 put on your direct deposit account, BItcoin would have to rise at least $3000 to walk away with $8 in extra buying power after entrance/exit fees. The odds of that happpening between deposit and withdrawal, say autopay, is slim to none
#bitcoin
I don’t think Bill pay is designed for people who want to buy bitcoin and then sell it within 1 or 2 weeks
It’s for people who save in bitcoin long-term, and want to pay bills with what they purchased years ago
You are right in the end but In his video, Jack talked about getting paid on Bitcoin and being bitcoin only and paying your bills with it.
If you do the math, its a terrible idea and only really works like you said. Jacks way would make your bills even more costly if you dont get lucky on a bull run
Short term yes it’s a terrible idea.
I hope people will realize that lol
I was all excited and submitted the direct deposit form to my employer
Then i did the math just now
In theory, you may get lucky putting a months expenses on a low_interest credit card and paying only one months interest or so if a bullrun happens a month or two later but the gains will still probably be minimal
But if you’ve been doing direct deposit with strike since they announced it back in 2021. Living with bitcoin bill pay is pretty dope.
Just gotta stack
I convert 100% of my paychecks to bitcoin on Strike then once a month I sell just enough to cover all my bills. Over the last year the bitcoin I have not had to sell is worth as much as my total take home pay. In effect I’ve lived for free. It’s all about having as much in bitcoin for the longest time possible so you can take advantage of the ten crazy up days that happen each year.
I am sure that worked great because It went from 30K-ish to $104K this year. But now, it's at a high so we should expect a big dip soon and then your Strike Method will not really be worth it
Yes but I get paid every two weeks so I’m only exposed to the price going down for a few days since my last pay and needing to sell some to cover my bills. To your point you need a good savings rate and a bit of runway for this to work without getting stressed or falling short. Yet to be seen how it goes in a bear market. If it doesn’t work I’ll just go back to the old way of getting paid in fiat then buying bitcoin at the end of the month after bills are paid. Order of operations matters.
