Personally, I think 10-20x annual income at the bottom of a bear market.
Not to quit my fiat job, but the fiat mines in general.
I've done this a few times when I needed cash and it's really quick.
Alternatively, Fold offers the same with their push to card feature, but they don't have LN integration, so you'd either have to pay Strike's bloated on-chain fee for the transfer, or wait up to 24 hours for a free transfer. CashApp and LN makes this instant.
Consider Cashapp for this case? You could send some sats there via LN, sell, and then use their debit card to withdraw cash.
Already done this. I'm obsessed with Bill Pay, and even wrote an article about it in an attempt to answer some people's questions about it and encourage more people to make the switch.
https://bitcoinbarks.com/Barks/strike-bill-pay-deep-dive/#wbb1
Do it!
Just a heads up though, Chase will likely start charging you fees or close your account if you don't keep a balance in it. That's what they did to me when I stopped using mine.
https://bitcoinbarks.com/Barks/strike-bill-pay-deep-dive/#wbb1
Strike provides year end tax statements that can be provided to your accountant or uploaded to your tax software.
I cover this in my article on Bill Pay!
https://bitcoinbarks.com/Barks/strike-bill-pay-deep-dive/#wbb1
I wrote an article about it that might answer some of your questions.
https://bitcoinbarks.com/Barks/strike-bill-pay-deep-dive/#wbb1
Ok, tell me if this stack makes sense:
nostr:npub1xkere5pd94672h8w8r77uf4ustcazhfujkqgqzcykrdzakm4zl4qeud0en to buy. Maintain emergency 3-6 month cash balance and get 3.5% yield paid in Bitcoin (this offers downside protection for the rest of the strategy below in the event of a bear market in that you still have dollars but they are earning a yield in real money. )
nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 for direct deposit >monthly transfers to FOLD
nostr:npub1a27t5chyqgfygncyfqwzpvvkrms6shhal9756jkgnpyzjqpsz5jqama5yp for daily spending and bill pay to capture rewards.
Sweep accumulated savings into Unchained multi-sig and use their IRA product for retirement.
Only thing that’s missing is Bitcoin Collateralized mortgages.
As someone who has used both Fold and Strike for a number of years now, I'm only seeing one flaw with this stack.
With Fold, the percent you receive back in rewards is largely based on the amount of Bitcoin you buy there. So you'd be better served having your direct deposits go straight to fold to fully maximize your rewards.
Personally, I've opted to switch to Strike entirely for the automated conversion at the time a bill is due.
Onwards!
https://bitcoinbarks.com/Barks/strike-bill-pay-deep-dive/#wbb1
The bill pay feature by nostr:npub1ex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jq6qvyt9 was the nudge I needed to go all in. I now have no USD. Still getting accustomed to that concept. I know that in the long run I’ll be better off but right now I can’t help but stare at the BTC price and worry slightly.
Anyone made the jump to go all in experience this?
Also weird not DCA-ing after years of the daily purchase. Can’t purchase when you’re at $0 USD. 😂
#asknostr #btc #allin
I've been doing this for a few years now using a number of different services, but Strike Bill Pay is an absolute game changer.
Welcome to zero!
I'm sure you could also set up your automatic credit card payments to pull from it, I just keep mine manual.
I'll take another look and perhaps edit that bit to avoid confusion.
I'm glad it was helpful!
I actually cover some of the distinctions between the two and the reason I switched to Strike in another article. This link should take you to the spot where I discuss most of the difference.
"Hello Strike!"
I looked at traffic on my website for the first time and got excited.
Then I realized that 16k of the views were of my nostr.json file.
Derp.
Ok. I don't mind middle-men at this point, but more power to you!
I actually just put together an article about this.
https://bitcoinbarks.com/Barks/strike-bill-pay-deep-dive/#wbb1