What’s wrong with spending someone else’s fiat for free btc? If you are forced to spend fiat to live what’s your alternative? Hold fiat in a checking?
You can atleast stay 100% in btc, spend fiat via credit and pay the balance with btc.
Discussion
Yeah, but the point is not to pay your credit line with Bitcoin. If I get a line of credit and it's like a fico federal thing that doesn't work for me. Cause I have no credit. The only way it would work for me if I deposit Bitcoin as collateral and they gave me a line of credit and I can pay the line of credit with fiat, so I don't have to sell my Bitcoin.
Can you not get credit? Even nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqngza3a lives on a credit card. Borrow trash dollars, pay off the credit each month, if you don’t want taxable events hold just enough dollars to meet your bills and put the rest in Bitcoin.
Most credit cards give you points or cash back, but these points are often devalued with little notice, or are complicated—have to use certain cards for specific categories, or for travel you have to transfer points to specific partners, calculate the value yourself, etc, on top of any annual fees.
That all just muddies the water and makes the true value of a credit card harder to see. I like that Fold is just giving a flat 2% back in Bitcoin. No categories, no juggling cards.
One card, clear rewards: 2% back in Bitcoin, more valuable than cash or made up points.
Yeah, but he spends Bitcoin every month to pay his credit card. I'm not trying to do that.
My question is simple. Is my line of credit gonna be determined by the amount of Bitcoin i deposit or is it the federal fico score?