What's an ideal way of setting  yourself up for living on a bitcoin standard? I know running your own node and having your btc in cold storage is a basic minimum, but then what? 

Tx fees will most likely be higher on layer 1 in the future, so I see using that for storing btc long term and rarely moving it. For daily transactions I think Phoenix wallet and the new ecash apps work great. But what about for mid-term holdings, like a years worth of expenses? Is cold storage using liquid a good enough option or would running your own lightning node be better? 

#asknostr #bitcoin #bitcoinstandard #hispano  

 I haven't read the book. Is living on the bitcoin standard imply paying taxes? 

 If you're referring to The Bitcoin Standard by Saifedean Ammous, it doesn't talk about how to live on a bitcoin standard. It focuses on monetary history and basically why bitcoin is the better money. Anyways, tax is theft. 

 I see. I just don't see how one could acrue a years worth of transactions over lightning, with no tax software capable of calculating your capital gains correctly, feasable to pull off. That's a lot of manual data entry that only an accountant could pull off, and wouldn't have time for.  

 You could live in a country with an incompetent government or one that doesn't tax bitcoin. 

 I want to test bitkey from block, that sounds like a good custody product for mid-term holdings. 

 Cool, I'd love to hear your feedback on it later on. 

 Sure, when bitcoin has privacy at the base layer.

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