A question for long-term hodlers. Will your standard of living decline over the next few years if you do not sell your #bitcoin? I understand that your wealth will go up, but if you do not actually use your btc to pay for anything, surely your quality of life will go down with everyone else's as inflation soars? What am I missing? #asknostr
Discussion
If you live on a fiat standard expect your standard of living going down and with that your % of incom devoted to savings in #bitcoin
When thinking of standard of living is asumed that you are talking about a balanced budget where you don't spend more than what you earn. If mantaining your standar of living relies on consuming saving then your standar of living already dipped
peace of mind helps for mental state
It depends on what’s important. I noticed I was having to concede my beliefs in order to get along with my environment so I left and moved to a place with a lower cost of living. Even though it’s not as glamorous in certain aspects and it’s been an adjustment I’d argue that my quality of life is significantly higher.
I think the idea is to not sell your bitcoin for fiat, but trade for goods and services. Time preference and opportunity cost play into the decision of how long to hold for. Everyone’s decision will be relative to their own lives. Despite what the talking heads say of “never sell,” Bitcoin was meant to be used how you want to use it, no authority.
With that said, it’s obviously going to cost more and more every year to get your stack of Sats back. So hopefully the utility you get out of the trade will be worth more to you relative to what Bitcoin will be trading for in the future.
Great answer. We will all have to figure it out for ourselves. Just got to be as prepared as possible