You get a line of credit from the bank that works with Fold, receiving rewards in Bitcoin for using the cc. At the end of each month, pay off cc balance using Bitcoin. Rinse and repeat.
Discussion
Uh, that's not innovation, they didn't create a new product. I want a card where i send btc as collateral spend the credit and pay back with fiat or btc.
Rehashed ideas since 2014.
This is not the bitcoin way
I’m just trying to get to 5 and in the middle of a 1000 acres.
Im not hating on fold i just wanted a little more clarification 💯 🦾
I’m still learning everyday. Sometimes I feel like I’m going backwards the more granular I try to get. Made some bad decisions early on and finally got on a path that I feel at peace with (Bitcoin). Wish you all, especially Bitcoiners, nothing short of wild success!
Stack SATS, non-custodial
Spends SATS and replace same SATS
My opinion, using legacy finance (credit / debit cards) to spend SATS supports those companies as you’re selling them your bitcoin which is cool if you’re living the Bitcoin standard.
So I need to sell the Bitcoin. To pay for the line of credit at the end of the month.
I’m not sure how Fold will approach this with their new card. May have an auto Bitcoin➡️Fiat conversion for the payment directly from your Fold wallet? Options are endless. This is a path to get on a personal Bitcoin standard.
I typically use Strike but opened a Fold wallet for the rewards. To each is own.
I'm on a Bitcoin standard, but I buy gift cards. If I need to sell my Bitcoin to use this line of credit it. It's not even worth it, just to get rewards back.
I have no choice but to sell (only what I absolutely need) to pay bills because I have no cash/fiat. Flat broke and busted in the bank’s eyes. They aren’t wrong though.