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26 sats \ 4 replies \ @Solomonsatoshi 15 Jul \ parent \ on: How are you planning to deploy your Bitcoin wealth in the coming years? bitcoin_beginners
Never spend it, do anything with it? Just hoard it forever? It is great to have the security/savings for a rainy day, but I hope there is a point sometime where there is something you want to do that Bitcoin enables.
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7 sats \ 3 replies \ @m0wer 15 Jul
I want to spend it. Just not trade it for fiat.
I would be happy to buy goods or services offered for Bitcoin. But if it's about buying a house in fiat, I'd rather get a Bitcoin backed loan. Keep the appreciating asset and owe the depreciating one. And get a house.
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0 sats \ 0 replies \ @PictureRoom OP 15 Jul
Hmm, my thinking as well. I have a hard time wrapping my head around how this whole bitcoin backed loan works though.
From what I understand, is that I have to pay back the loan in cash. But, can I pay it back in Bitcoin? Or would that not make sense?
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0 sats \ 1 reply \ @Solomonsatoshi 15 Jul
Fair enough although I would be wary of Bitcoin used to secure debt where you must surely surrender the keys to the usury.
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0 sats \ 0 replies \ @PictureRoom OP 24 Jul
You don't surrender your keys. You post up the total amount of collateral in a segregated wallet address, as in Ledn.
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