Testing living in the #Bitcoin Standard
I’ve been thinking about this for a couple of months now, and I decided to use data to simulate how would it be. Plus I need to also get my wife on board. We have talked about it several times but we both have the concern of the volatility of prices. I know this shouldn’t be a concern, for example, in our savings strategy, we don’t really care about it.
So I setup the test in the following way…
🧵 👇
* I downloaded all historical data for #Bitcoin prices for the month (did it for one month for now)
* Downloaded all my transactions for that month
* As soon as I get paid I assumed I converted my paycheck, and bought at the mid range of the open and close (for simplicity)
* As soon as I got charged a bill, I would pay it day day (at the price of that day as explained above)
At the end of the month I calculated how much money in fiat I would have (living in fiat) and the fiat value of the actual bitcoin I would have, and saw a couple of hundred dollars (~190) that I would be loosing in fiat value at the last day of the month.
There’s obviously several things to consider.
For example the value of my remaining balance (in sats) would be worth more over time and hence I’m preserving the value of my money.
I would love to know the experience from people that are living in the #Bitcoin standard, because I’m sure I’m loosing a lot of details and perspective. However this test has given me at least more curiosity to keep studying it.
What do you guys think?
