Oddbean new post about login | logout I don't actually have any plans to spend it, I mostly see it as an emergency cash fund for my social net. Like, I'm very active in my church and there are so many old people and young moms who would basically be up the creek without a paddle, if the euro crashed or the government dried up. And I just wonder who would pay for the soup kitchens and heating bills? It's going to be people like me, right? Gold bugs and corn stackers will be the only ones with any money....
Bitcoin perhaps souls be considered your life savings and fiat you’re current spending wallet and rainy day funds
Yes, but the fiat will increasingly be eaten up by inflation and will eventually barely cover my own family's running costs.
It’s different for everyone but define your ratios. What percentage of every check goes into bitcoin end what goes to expense wallet. Marne inflation is so high this has to be quite flexible. Rainy day to me is a years + worth of expenses in a country where cost of living is low. I am an expat with family in a country if I lose my job I have to leave or find another job pretty soon
I know that seems like a weird thing to be concerned about, but I already know of a few counting out euro-coins to buy groceries, so we've set up a cake café in the parish hall, once per week, so that they can get out of the house and socialize for free. They refuse to go on welfare. They'd rather literally starve. And soon, there will be no welfare. There will just be us church ladies from the cake café.
We could probably cover a soup kitchen out of local donations and.volunteer labor, but people will donate more generously, if they have a personal Bitcoin reserve. Even if I don't spend the Bitcoin, having some would make me feel calmer about spending fiat.