Wife has agreed to the nostr:nprofile1qqsvgepe3vk2h65cdwcyf6f53ec2x68j5npth8my07fhhjenhsumajspp4mhxue69uhkummn9ekx7mqpzfmhxue69uhhqatjwpkx2urpvuhx2ucprpmhxue69uhhyetvv9ujumn0wdmksetjv5hxxmmdal2aap strategy of living on credit and bitcoin. Trial period is three months. This is gonna be wild.
Discussion
It's fun, I'm sure you'll love it.
Tell me more?! Is there a doc I can read?
It's basically take direct deposit to Strike and immediately convert it to BTC. Live on credit and pay the balance out of Strike from your bitcoin balance. They manage all the tax reporting documents. The new Safe Horbor rules from the IRS require me to now report cost basis per account/wallet, so it sounds fun to just open a Strike account, have my cost basis start in 2024, amd see how far ahead/behind I would be vs living in fiat.
Why: It would male an interesting conversational shortcut to say "I lived on bitcoin for X months and performed Y% better/worse than saving and Z% better/worse than a popular index ETF."
How are you funding the credit? What is the rate?
Basic 2% rewards credit card. Don't care about rate, since I would pay it off every month, per usual.
To clarify, keep the earned fiat in bitcoin and pay the credit bills from that balance every month (Strike handling the exchange to dollars and the tax reporting documents)
Keep in mind it would be better to use Bitcoin as collateral for the credit instead of selling the Bitcoin, but the banking system in the US won't let you. There was a Nexo card in Europe that allowed crypto collateral but they never supported Monero and I'm not sure what happened with them (probably still operating)
Gotcha.
