640 sats \ 2 replies \ @orthwyrm 4 Feb \ on: Credit Cards & #GetOnZero bitcoin
I did this for a while:
  1. Pay for everything on credit card
  2. Pay off balance with monthly salary
  3. Convert surplus into BTC
However there were still many instances where I needed to sell BTC to cover larger expenses. This can be expensive due to transaction and trading fees.
As of now I essentually have a 3-month emergency fund in cash, with almost everything else in cold storage BTC. But the opportunity cost of that not sitting in BTC eats away at me.
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150 sats \ 1 reply \ @carlosfandango 4 Feb
Having readily accessible cash (rather than BtC) is so important and 3-month is a good amount. The tax implications around selling BTC (as mentioned in the OP) are pretty debilitating and outweigh any opportunity cost fears.
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100 sats \ 0 replies \ @orthwyrm 4 Feb
I think that depends on the tax system. We have a bad CGT deal in the UK, but it only applies if the BTC has appreciated in value and outperformed cash.
I think the real killer is if the price crabs for a couple years, but you're flip-flopping between exchanges and taking a ~1% haircut with each transaction.
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