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Laser's house financial rules. 💰

1. We keep everything in #Bitcoin.

2. We put expenses on fiat credit, which gets settled once a month with #Bitcoin.

3. We never plan purchases as a whole, including housing/vehicles/vacations, etc, that would in result in total consumption threatening 5% of purchasing power.

4. What stranded fiat we do have (401k/roth/IRA/HSA/etc) goes into $MSTR until we figure out how to exit it into #Bitcoin.

5. We expand our stash of unregistered sats in any and all creative ways. We never repatriate unregister sats into the fiat economy.

It's not perfect, but it works for us. 🌴

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Discussion

CosmicBanya 1y ago

Can you explain what you mean by #3?

Laser 1y ago

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pup 1y ago

This is the way.

https://bitcoinbarks.com/Barks/get-on-zero/#wbb1

CosmicBanya 1y ago

Great post. Thanks for this.

pup 1y ago

I'm glad you found value in it!

CosmicBanya 1y ago

Found a lot of value in your nostr page too 🐕 ❤️

Mark Sea 1y ago

4. Unchained allows you to hold 2/3 keys for an ira

Laser 1y ago

I know. For us $MSTR is easier to plow a half dozen accounts into.

Nick 9mo ago

Any reason you prefer $MSTR over any of the Bitcoin ETF’s?

Laser 9mo ago

Stocks are a bet on the founder. I like Saylor better than Fink, Silbert, or the others. It's a narrow venture I can wrap my head around.

. 1y ago

Settled in ₿? As in sell for fiat to pay card?

Laser 1y ago

Yes, until Chase let's you deposit #Bitcoin directly, which I expect will happen soon.

. 1y ago

Would be nice if Stike offfered credit payble with account balance.

Direct deposit fiat as ₿

Pay fiat bills on credit

Settle credit with ₿

Send me annual report for the feds

Laser 1y ago

None of the #Bitcoin companies seemed positioned to launch a serious fiat credit card.

I suspect the encumbants will simply roll out #Bitcoin settlement support before our little cottage industry figures it out.

ShiShi21m 1y ago

I think the cottage industry will figure it out and some will get acquired to these ends.

SelfBankt 1y ago

Laser's back.

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ShiShi21m 1y ago

If you aren't building a farm, this is exactly what you should be doing.

Good advice.

For anyone worried about being 100% Bitcoin in this scenario - so long as cash flows are coming in to pay for your life - which should be reasonable bc I assume you basically own not much and are renting.

bc21 1y ago

Stay humble and stack zaps

Bitcoin Golf Pro 1y ago

💯

eee8f902... 1y ago

Can you explain 3? Maybe I'm being dumb but I don't get what you mean

Laser 1y ago

I simply look at the aggregate of liabilities (homes, vehicles, vacations) on my balance sheet and make sure that it never surpasses 5% of savings.

This keeps my household levels. We always live well within our means, and we never give up financial security for stuff.

Deleted Account 1y ago

Such good advice. Living within our means is a powerful approach to accelerating stacking. I like your 5% of purchasing power framework

eee8f902... 1y ago

Appreciate the clarification. And 5 - unregistered=nonKYC "misc sats" ?

Laser 1y ago

That's right, I prefer the term 'unregistered sats' to NoKYC.

kyle 1y ago

inspiring

kyle 1y ago

what about bitrefil and gift cards? that could replace the credit requirement for a lot of stuff and would be better for privacy than liquidating bitcoin for fiat to pay down credit card debt. not a suggestion, obviously something you will have considered just curious if/where that fits in to the mix

Laser 1y ago

I used to do that; too much friction. Got old.

no₿ody™ 🧱 5mo ago

Pretty good though

Base Layer Capital 5mo ago

This is a heck of a lot simpler than what I have been trying to do which is borrow against Bitcoin, not to spend directly, but to invest in assets that cashflow.. and then pay taxes on cash flow and spend remaining to pay down loan and funds life.

My approch works, but man the USA has really made it damn near impossible to shield any sort of investment income in a corporate wrapper unless you are ready to bring onboard 6 or more outside investors.

But like you I keep debt low and Living expenses low. We have lived well below our means since we got married.

We likely have enough to just live from, but I can't part with it that easily. I feel compelled to try and do something useful with it as opposed to just selling it..

Contra 5mo ago

This is how adults play the game: Bitcoin as treasury, fiat as the disposable wrapper it is. Stay sovereign, stay stateless. 👊

The Beave 5mo ago

Do you also do this during the regular BTC downturns? I am curious about what people do that are not super-whales who don't need to worry so much about fiat price since they are pretty much always on the positive side of anything. I am not. I am still working for fiat and will be for the foreseeable future.