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0 sats \ 8 replies \ @guerratotal OP 15 Jul \ parent \ on: How do you organize your finances between fiat and Bitcoin? AskSN
So, your money (salary, earnings, extra money from something else) is sent directly to Strike, and you pay your mortgages and loans in Bitcoin from there (Strike)???
So, if I understand correctly, by keeping that money in Bitcoin, it appreciates in value, and your mortgage will feel less valuable over time. Would that be the case?
Yes…I used to keep enough in fiat to pay bills, but now I don’t keep any fiat, and get an extra 30 days of bitcoin appreciation before converting.
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Interesting, yesterday I was thinking about what you mentioned, I'm going to see if it's feasible here in Brazil.
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LFG!
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I went to create an account on Strike and you have to do KYC... I didn't see it as a good idea.
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Most countries you have to KYC to have a bank account. Strike is tied to a bank to enable fiat conversions and bill pay. Best way for privacy is to create a company or LLC, and have accounts in the business name instead of your own. (Not sure if Strike offers biz accounts though, just banking in general)
Obviously if you can get paid directly in bitcoin and not pay taxes, that is the best situation, but most people are working for fiat. Don’t let perfect be the enemy of good.
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Yes, I was validating that, anyway here now in Brazil, and at least here in my city I would not have a way to spend my SATs directly on any business.
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spending sats directly is kind of a novelty and does not make sense financially. credit cards are the most efficient since you get a rolling 0% interest loan on the average balance, if you routinely carry a $10k balance or more, and only pay it off at the end of the month, you are arbitraging $5-10k a year - on a total credit card spend of $120k/yr
$10k is enough for a nice vacation most places, or buying more btc
strike is mainly my automatic bill pay - money is btc for 29 days of the month, then the bare minimum is auto converted to cuck bux for credit card bills and home loan
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LFG!
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