Husband | Father | Bitcoin and Nostr Advocate
Based in the PNW, I post content about my bitcoin
journey and share photography taken on my iPhone 17
Nostr since: 858821
Bitcoin since: 853160
Considering living on a Bitcoin standard?
Iβve lived on it since August of this year with Strike.
Here are some tips and tricks that Iβve learned in the past 90 days that will make your time living on a Bitcoin standard a successful one:
1. Put your entirely monthly spend on credit cards
In my opinion, this is the only way that the live on Bitcoin standard works. Use credit cards with generous cash back or travel miles benefits. This can help eat or offset any small dips in price for the month when you pay your credit card bill.
2. Do not pay the minimum only
Pay off your credit cards in full every month. I made the mistake of maxing my cards over the past few months trying to acquire as much bitcoin as possible in preparation for the 150k-200k price everyone was anticipating. Instead, bitcoin dropped into the 80s and Iβve had to sell at a loss.
3. It helps to have Bitcoin in reserve
I stacked for years before considering doing this. This can help make you whole if youβre negative. Unfortunately, you have to sell the sats to do so.
4. Live within your means
Donβt overspend on credit. Spend less than you earn and living on a Bitcoin standard is possible.
5. DCA
You should be DCAing daily or hourly in addition to the weekly or biweekly smash buys your paychecks purchase for you. DCAing gives you exposure to all the variations of Bitcoinβs price that way large portions of your wealth are not locked in at a fixed price point.
What can living on a Bitcoin standard do for you?
It lets you take back control of your time. An example from my own life is shown below. This amount is my latest paycheck. Iβve become 5% wealthier since I was paid. This equates to 3.43 hours that Iβve reclaimed for myself. @strike@jack mallers
Good morning friends.
Yesterday, I had a scammer impersonate a friend of mine on Club Orange. The impersonator was able to get me into a Signal chat where he asked me for a significant amount of sats.
The scam was convincing. He knew the name of another friend in our local group and claimed that individual had already helped him out with some sats for an opportunity, but he just needed a little more from me. The con fell apart shortly after that. I blocked the thief and did not send him any sats.
Stay alert and trust your instincts. If something seems off, it probably is.
The beautiful thing about Bitcoin - you donβt have to buy a whole one. You can get about 1,113 sats for $1.00 at the time of this post. My favorite platform to buy sats at is @strike