FOLD Push to Card has been failing the last couple days. Now, Direct to bitcoin deposits have failed. Communicating with their support...
11/8
Been on a BTC standard since 9/10. Keeping track of total USD being converted to BTC via direct deposit. Currently up 15% in USD terms. FOLD is working flawlessly. Pushing BTC to dollars is almost instantaneous so I only have to stay in dollars for a couple hours to pay bills.
I have to say it is an incredible thing to watch your money grow in value just sitting there.
Not new to bitcoin but very new to living on a bitcoin standard. So, as usual, do the work and make your own decision. I think Strike and Fold are the best options. Looked into Bitrefill and similar options but not a big fan of buying gift cards (personal preference). I wanted to use Strike now that they have a lot better functionality than at the beginning. However, I had a bad experience with their KYC/support; twice (again, personal preference). I settled on Fold. Been working great so far. Keep in mind I'm only 30 days into this.
The one issue that keeps me up at night is BTC volatility. From a hodling perspective, I could care less. But converting pay into 100% btc regularly could pose a problem during a drawdown. I guess it's like an ad hoc DCA strategy? We'll see. You mentioned a small account to start with which is probably a good idea anyway.
Going 100% direct deposit next pay period. Fold has been working well. Easy to pay bills, set autopay accounts, debit card functionality works. Obviously concerned about btc drawdowns but hoping direct deposit acts like an ad hoc DCA to smooth it out a bit.
Dipping my toes into living on a bitcoin standard with Fold. Starting with a percentage direct deposit to BTC to cover known bills. Will move to 100% if that goes well. Excited to see if this works out in the real world. It is unfortunate that Fold is not on nostr. I've been off X/Twitter for a while and no plans to go back.
I've seen this play out time and again over the years.
