Bitcoin Hodling vs. Spending \ stacker news ~bitcoin

From Bitcoin University

Video Description

In this video, I discuss Bitcoin hodling vs. Bitcoin spending.

Most people should probably have at least 2 Bitcoin buckets:

Deep cold storage Bitcoin, where you hold your keys on a hardware wallet like a Coldcard or Blockstream Jade, either using single sig or multisig
Spending wallet (hot wallet like Strike or Aqua or Mutiny on your phone)

Try to spend BTC from your spending wallet as often as possible to help to increase Bitcoin adoption. Whenever you need to pay someone (handyman, babysitter, friend, etc), offer to pay them 110% of the amount if they will accept it in Bitcoin, then show them how to download the Aqua Wallet or Mutiny Wallet or Strike Wallet.

This hot wallet should be treated as a "spend and replace" wallet:

Buy $100 worth of BTC for this wallet, spend it, then buy another $100 worth of BTC for this wallet.

Final note for less experienced Bitcoin users who are not familiar with the intricacies of chain analysis, coinjoin, and non-KYC Bitcoin:

You should probably never send BTC directly from cold storage to your spending hot wallet.

You should also probably never send BTC directly from your spending hot wallet to cold storage.

Much better to keep your cold storage sats completely separate for now--

And then just use fiat to buy BTC whenever you need to top up your hot wallet.

The Strike app is especially great for fiat, on-chain BTC, and Lightning BTC. It's custodial and thus not private or self-sovereign, but it's a good tool to use when you are just getting started learning how to spend and replace your BTC.

53 sats \ 0 replies \ @IamSINGLE 5 Jul

Thanks for this amazing article for beginners!

Now I tell you that this was my intention while I went on with the Idea of A Bitcoin Classroom. I want that that there must be a post for every topic about Bitcoin that clarifies every bit of confusion for beginners and it must set a clear way and approach on a topic. I see that most beginners falter or stay confused in their beginnings and this time consuming isn't working on favour of Bitcoin's adoption growth. Many beginners get confused about what they should and what they shouldn't. So many of them leave on the process. So, I think there must be a pinpoint set of Bitcoin related learning material which we can throw at anyone and all will only have to agree with it.

21 sats \ 0 replies \ @Satosora 6 Jul

I never actually thought about it in this way. But this does hold true with 90% of what I do.

0 sats \ 0 replies \ @16d86e9daa 6 Jul

Bitcoin's price volatility can impact both hodlers and spenders differently. Hodlers may benefit from price increases, while spenders might face the risk of spending during price spikes or dips. i see it as a 50|50 game for both