Update 5:
Last Monday, I decided to follow Jack Maller’s suggestion: buy Bitcoin, live on credit, and sell it later, keeping the rest. So, I loaded another 250 EUR onto my budget at a rate of 44,768.75 EUR and proceeded with my credit card. However, spending on credit doesn’t truly align with Bitcoin adoption; you don't calculate any spending in Sats. Last week, when I used gift cards, it was more obvious to me that I was spending Bitcoin. With a credit card, it's completely disguised, so you spend as you would before.
The problem arose today when I was supposed to sell BTC to cover my weekly expenses, as I have two issues:
- The credit card needs to be covered sometime in March, so I don't have any incentive to cover it now, only for the purpose of the experiment.
- Although the BTC price is currently hovering around 48,500 EUR, and I would definitely spend fewer Sats than when I topped up my balance one week earlier, I have no desire to sell at all. I would say I have a strong resistance to selling, so I will cover this from future income.
What I noticed for myself - I have no internal conflicts buying gift cards or other products with Bitcoin, but I have a moral difficulty selling my BTC for fiat to cover the credit card bill. Although logically there is not much difference, and spending BTC once a month in a bull market makes more sense, I realized that this way of getting to zero is not for me.
Was it a failed experiment? Well, it depends on how you look at it. On one hand, I didn't push too hard to detach myself from the current system, as it was easier for me not to buy a coffee than to somehow pay for it via Lightning. On the other hand, I realized that some Bitcoin spending is actually a lot of fun and easy to achieve.
Going forward, I think I will try to allocate more EUR to BTC via increased DCA amounts, considering that I will spend some of them on gift cards when needed. I believe that using Bitcoin helps the Bitcoin economy, so any attempt is a good attempt.
As they say in a famous meme - I'm doing my part.