There are some here who will Hodl till death, but for all the others I have a question. Do you have an exact plan when you will spend from your coins? If yes and the plan is public would you share? Mine is not finished yet, but at 100K I buy myself a motorcycle. 🤙
As always,
Pv
Every time you buy anything you are essentially spending sats since that’s money that could have gone towards your stack. Any other way of looking at it is a fiat mindset
I will spend it like money when I can make it like money.
For me the most valuable use is that is incensurable so it is my reserve money just in case someone tries to beat me or CBDC finally displays at full extend
Retirement if I have to. Otherwise it’s my kids’ trust fund
Depending on your retirement timeline….#Bitcoin will be pristine collateral to lending institutions. There is reason blackrock, jp, goldman are entering space.
Rather than sell stack off, take loan against a percentage of it. Live off loan and refinance every halving, or invest loan in syndicated commercial re that yields 12-15 IRR. Rapid depreciate against cashflow….rinse repeat.
Sorry, but for me a 2-3x needed collateral for a loan is too much trust in the Bank and the government. I won't risk it.
That’s a fair argument, but remember Unchained Cap and others offer custodial lending thru multisig. You’re assuming tradfi models will be the only lending offered. This space will evolve quickly in the next bull phase.
Curious your alternative plan? drawdown and incur the tax and reduction in stack? I’m ok with that but like the idea of using a conservative % of total holdings in Bitcoin to generate retirement cashflow with a business of some sort.
I only know about Unchained and it's offering only to US citizens. Are there any other companies with multisig? Maybe for non-US citizens? I don't believe in taxing my Bitcoin spending, so I will resolve this cleverly. :)
Cant speak to OUS unfortunately but know that we collectively tend to underestimate innovation and the pace of discovery. There will be a “goldrush” of tools built on the hardest money known to man. Custodial lending will be just the beginning.
My timeline may not see hyperbitcoinizarion unless I’m grossly underestimating adoption curves and the collapse of fiats around the globe. So, tax strategy is one critical component to living outside of a W-2 job or running business day to day.
Um no. We already did that and look where it got us. There's a popular quote about insanity you should look up.
Did what…Bitcoin lending? Blockfi/Celcius/others offered non-custodial lending platforms, as well as yield for depositors and like fiat banks, rehypothecated deposits engaged in all sorts of scammy activites and got wrecked.
The original question was how to retire on BTC and my suggestion was about how to fund a business or other cashflow positive endeavors by using your BTC as collateral in a multisig custodial lending setup where you appropriately manage risk. This was an alternative to just selling sats and paying capital gains, assuming you didnt have a boating accident.
Collateralized lending will remain a thing like it has since money was created…BTC is the most pristine collateral and lenders are realizing this. Technology advancements will enable you to cold store your stack, verify it 24-7-365 with your own node, and still use it as collateral against an interest bearing loan to fund cashflow producing ventures.
to pay my flat
My goal is when it reaches a certain price I have in mind which I hope we hit within 3 years, I’ll unload about 25% of my stack. That money I will use to ensure I never need a fiat job again by having both a traditional FIRE portfolio along with 75% of my btc stack.
That's my far plan too. I try to catch with a small part of my stack the top. It will just give me the financial freedom I always wanted. At the bottom I try to buy back... Of course both needs way too much luck.
at 25K buy chinese watch
at 50K latest iPhone
at 75K new fancy car
Dylan LeClair talked to O'Dell extensively about cashing out when the time is right... for me 5x cost position would be great at $100k but my losses at that damn Blockfi would likely make we want to wait to $150-200k. The world will be much different then; probably more chaotic 🙃
