Simply explaining to people that you live on a #Bitcoin standard causes them to stop and think. That I could both get paid, and then pay others in bitcoin and only use dollars when i need to pay fiat bills or work with other vendors/businesses, and immediately convert back to BTC otherwise.
Every time I have explained this to people following their inevitable, "Oh you trade bitcoin?" and I answer with "No I never trade, that's for people who want to lose money, I simply use Bitcoin as my money, I don't keep any value in dollars that I care about over the long term," — they are always surprised and it clearly shifts their view of what bitcoin is and how it works.
Do you ever mention buying gift cards with Bitcoin? Can be awkward.
Not really, but that is something I do alot just becuase of the sats back.
I try not to as well. Normies tend to over-appreciate the MoE role of money and under-appreciate SoV, so if they hear I mostly have to used gift cards, they mentally check out. I always steer it back to basics of SoV, what is money, etc.
Why do they check out?
They think it has to be a MoE *first* and that it’s stuck in a chicken and egg problem. So to them, gift cards is an admission of defeat. We’re talking real Stockholm Stacie’s and Yuppie Elite.
So break that out a little more, how many months or % do you keep in a traditional bank USD? When you get paid do you automatically send to a cold storage wallet?
Anything that I think I need for the month I keep in dollars. Anything that I think is extra goes back into #Bitcoin.
- When I need more dollars I convert about $1-3K at a time from BTC->USD.
- When I have too many dollars I convert the opposite direction, basically any amount. I'm always doing small buys and stacks through a bunch of different methods.
- Also if the price dips a lot I just buy, even if i need the BTC for something else generally. I'll just get a short term loan or something if I need to.
Correction: Even if I need the *USD* for something else. example, I got our USD for a bunch of home construction on the basement, but fomo'd hard into BTC when it dropped to 53-55K range.
That's how I plan to set up my business. It's a transitionary time. In effect using the crap money as best we can to build something for the future.
It’s selling back and forth creating tax issues? Or you just go through one platform so easy to track, etc?
If you are US based, have you found an easy way of tracking the tax implications? This would be a nightmare.
Do they really get it or think that you are crazy?
I always wonder but the answer really doesn't matter. We are all a little freaking odd anyway
Well I have a shocking proportion of them eventually come around to asking me how to buy it, so I think it’s more genuine than not. But I’m sure there are plenty who just think I’m insane.
Granted I’ve been in #Bitcoin for 14 years and for more than the first half of that time EVERYONE thought I was completely retarded, so that’s not remotely new 😂
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