Awesome people of nostr 🧡:
How do you use bitcoin for your spending?
* Do you only keep as much FIAT from your fiat salary as needed for a month?
* Do you use a bitcoin card to spend in bitcoin?
* Do you try yo use places where you can spend bitcoin?
* Do you buy gift cards from your btc to spend?
And last but not least:
How do you not lose more of your bitcoin because of volatility?
Thanks!
Value⚡️value!
I try to live a bitcoin standard.
I learned what I usually have to spend each month. I keep only that amount of btc in an exchange that offers a bitcoin backed credit card. I look up stores and services that accept bitcoin and use this services and stores mainly. Bitrefill and TheBitcoinApp are used excessively. I pay insurances and taxes in fiat as I have to.
So: Yes, yes, yes, yes, yes.
Key for me was just good knowledge about my reoccurring payments and spending habits.
Thanks!
So you also have your daily spending in btc. Cool! 🤜🤛
How long have you been doing this? How much does the volatility affected you on average during this period?
Around 5 month.
Volatility is a major factor. In theory I spend less in bear market and try to buy in bulk and in advance in bull market.
So currently I try to spend less. As soon as bitcoin goes ~ above 40k I e.g. buy a whole cow and a whole pig and put them in the freezer. Same for rent. I aim at paying my rent 2-3 years in advance when bitcoin price in Dollar is ‚high‘.
Highly interested in how others do it.
I use a mix of everything you mentioned plus hodl hodl buyers or buyers that I know directly, to pay directly my invoices.
I’m pretty sure I loose sometimes but I don’t keep any records. I guess in the long term I’m gaining.
A mix of everything except the first one because my earnings are already in bitcoins.
Thanks!
What is "hodl hodl buyers or buyers that I know directly, to pay directly my invoices"?
On the hodl hodl platform you open a trade to sell bitcoins to an existing Buy advertisement for the amount of the invoice you want to pay. When you are asked to provide the payment details, you give the details to pay the invoice. Buyer pays. The person expecting the invoice to be paid confirms the received payment. You release the bitcoins. You can do the same without the escrow offered by the platform with buyers you know personally and trust. I pay rents, professional services and other stuff this way, in countries where I don’t have a bank account.
Just make sure that the buyer has a good reputation, so there is no risk of a fraudulent fiat payment.
Is it similar to p2p selling btc for fiat then? But you directly give them your bills, right?
What is the benefit of this, over p2p selling?
There you will be the one who receives fiat, so you seem to have better control over paying your bills. Or?
