Replying to Avatar Ryan Wilkins

I’m intrigued by the idea of switching to a #Bitcoin standard, at least in part. I say “in part” because my wife is unlikely to let me switch all our finances over to operating internally in Bitcoin so I’m going to have to do this with my toy money account. She’s coming around to the orange way of doing things, but it’s going to take some time.

Has anyone else done this and what has been your experience with it?

What have you learned from it?

Would you do something different if you had to do it again?

nostr:npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpev if you haven’t done a podcast on this idea yet, it might be interesting to do one.

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Eliot 1y ago

Not new to bitcoin but very new to living on a bitcoin standard. So, as usual, do the work and make your own decision. I think Strike and Fold are the best options. Looked into Bitrefill and similar options but not a big fan of buying gift cards (personal preference). I wanted to use Strike now that they have a lot better functionality than at the beginning. However, I had a bad experience with their KYC/support; twice (again, personal preference). I settled on Fold. Been working great so far. Keep in mind I'm only 30 days into this.

The one issue that keeps me up at night is BTC volatility. From a hodling perspective, I could care less. But converting pay into 100% btc regularly could pose a problem during a drawdown. I guess it's like an ad hoc DCA strategy? We'll see. You mentioned a small account to start with which is probably a good idea anyway.

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