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Holding cash is retarded tho? How is this a good game plan?

Its not an investment plan. I only have enough dollars to buy things, and an emergemcy fund.

An emergency fund that loses value but could instead be bitcoin

I have bitcoin.

Id rather hold a small amount of cash than rely on a credit card for anything.

I used to think like that but like a chess player I got smarter

If your chess game is "get richer at any cost" then yeah you got me. My game is "dont play their game."

What cost? Its just stacking more sats.

Being stuck in a permissioned system, them selling your info to data brokers, being treated like a criminal, "business hours."

If you dont have a reason to hate banks, Im glad for you.

Your trying too hard to defend your position. I use bitcoin where I can and fake money when I can't. Credit cards are good for stacking bitcoin.

Not trying at all, you asked.

At the end of the day its all about security of my time. Shredded credit cards dont help with that. If all Credit cards where Shredded that would be awesome, but this just seems like your putting yourself at a disadvantage. Just my opinion tho.

That's how I started out and it gave me peace of mind at the time. I just wrote that fiat off and didnt worry about it. Now I'm almost entirely in Bitcoin with card limits that amount to my old emergency fund. Emergencies never seemed to happen such that I couldn't just bill pay my credit card from my stack if I really needed to. Personal preference. And to be fair, I can handle volatility a lot more than back then. Cost basis is what eventually made me move away from fiat emergency cash. It would take a collosal crash for me to be worse off than I would have been sticking with the old way. Everyone has different needs.

Agreed, i dont keep any more cash then my monthly payments. Have a line of credit available if you need cash, having cash available is knowing you're getting butt rapid and allowing it.

Even doing this puts us massively ahead of most people. I'm glad you have a method that works for you and your life. That's all that really matters.

So how exactly do you pay your rent/mortgage, electricity, heat, garbage service, restaurants, airplane tickets, online purchases, etc.?

My prioritization is currently:

1. Cash

2. Bitcoin

3. Visa/MasterCard giftcard bought with cash

4. Disposable debit card connected to my bank

5. Debit card/bank draft/ach

Aren't you propping up "the system" by using visa/MasterCard and debit cards and bank stuff? I'm not trying to be a dick, I'm pointing out that at this point in time using credit cards etc is a matter of convenience which is not entirely avoidable due to limited Bitcoin adoption. Also, Jack Mallers still uses credit cards. Of course it's good to not be in debt bit that's a different argument than "you shouldn't use credit cards because you're then proping up the fiat system".

Baby steps. I dont use cards unless I have to. Pretty rare for me actually. I never said people shouldnt use credit cards. My point is that of youre holding debt as a protest against the legacy system, youre actually doing them a favor.

Also, I dont know what Mallers has to do with anything.

You're holding debt for your debit services in the form of fiat. At least with a CC you're making someone else hold the fiat month to month. You can pay it off monthly from a Bitcoin balance.

It seems to me that debit does that more than credit. I don't actually have to touch fiat to use credit.

Say I have my fiat check deposited with Strike and instantly converted to Bitcoin. I use a CC for my fiat bills. I then pay the credit card from my Strike Bitcoin balance, which gets converted to fiat when it goes to the CC company.

Fiat debit requires me to hold fiat for a time.

You can argue that both contribute to fiat card fees and transactions in fiat, but less so than me storing my wealth (even in part) as fiat on top of that.

👍

To each their own, I just don't see how it's necessarily propping the system up any more than debitting fiat from a bank account. Youre in the fiat system less by doing it the way I mentioned. And youre getting a higher percentage back to buy more Bitcoin with lol At least I do with my particular card. So in a way, am I not draining the system faster?

I think your way is totally fine. That's what Jack Mallers does too and it's what I'll be doing soon 👍 Thanks for sharing your ideas, brutha 🙏

If you hold debt, youre an asset on the bank's balance sheet.

I don't see how that's propping them up in any real sense. I pay no interest and get back more to put into Bitcoin than I do using debit.

You can make this argument at a surface level using their definitions for assets and liabilities, but I don't buy it in reality.

Especially for something like uncollateralized credit cards. We can call that an asset, but I wouldn't consider it an asset if I loaned someone money with no collateral or interest.

I'm not opposed to doing what I do with a debit card. I'd rather prop Bitcoin up by buying as much as possible more than I'd like to remove a faux asset from some spreadsheet at a bank. But like I said, whatever works. I don't know everything. There could be other benefits I'm missing. Just sharing my reasoning and why others may be doing what I do. I think that's why Mallers was brought up. I believe he does the same

ck 6mo ago

Dang

Not Sure 6mo ago

Agree to some extent. I never plan on borrowing against my bitcoin using buy borrow die strategy, but when the fold credit card comes out, you know I'll be signing up.

Better than fiat rewards!