Replying to Avatar The Bitcoin Chef

Same. It’s so much simpler just putting any spare into bitcoin. Everything else feels very risky and weird. I still have a work pension that I have to allocate the money each month. It feels so clunky and I’m almost certain will be worth fuck all by the time I retire (if I’m even allowed to withdraw it at some ancient age and certainly not from another country) Bitcoin when you think long term is really freedom. My wife is always saying she wants options. Well Bitcoin give you the most options 🥳
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TheBitcoinManual 1y ago

I also have a retirement annuity and preservation fund that I was given when i was working, honestly I've already zero'd that in my head because well its in South African rands and Rand-based assets so what's the bloody point?

I'd be so doom pilled if I never found Bitcoin, its so disheartening trying to save in other asset classes, especially if you don't want to leverage yourself to the tits to do it

I just don't know how I will access this capital though, taxes are going to be a nightmare and pulling it out non-kyc is going to be in drips and drabs pulling teeth, alternatively borrowing against your Bitcoin is an option but the interest on it is a joke, 13% annually bro I'm pledging the worlds best collateral here are you high?

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The Bitcoin Chef 1y ago

I have looked at borrowing against your bitcoin @markmoss talks a lot about this. I think it will happen but going to let others try out and learn and I will have a go when it’s a more established industry. If that takes 10-20 years. So be it

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hh 1y ago

We're nowhere near the state when borrowing against BTC is feasible.

As you just said, people are on all sorts of psychotropics asking for those absurd interest rates, plus the overcollateralization and the lack of safety (you lose control of your BTC and are forced to trust a third party, in the best case).

I keep stacking with the hope that one day not too far in the future the market will solve these issues and we will be able to use BTC without having to liquidate our holdings.