1 sat \ 6 replies \ @TheBTCManual 23 Mar 2023 \ on: For how long could you keep your lifestyle without any income? bitcoin
I think that with inflation going the way it is, having cash savings is a hard pill to swallow, yes I earn in fiat so I have some to pay bills and a little in case of emergency but I can see that the amount of "months/time" those savings can keep me going gets less and less as the months go by, only saving grace is how bitcoin is offsetting that decrease
That's true, a more accurate projection should include inflation.
Although, for times less than 1 year I don't think it will affect that much unless it is a big hyperinflation. I hope the people with more time than that be able to protect their savings against inflation.
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Have strike or cashapp available to quickly convert to fiat for emergencies until bills can be paid directly.
If you are in USA cashapp is by far the fastest and easiest way to put Bitcoin on a fiat dollar debit card.
I can lightning into cashapp and have all lightning funds available as dollars within 10 minutes
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We don't have an LN to fiat rail here in South Africa, I would have to go through a P2P market or buy vouchers via bitrefill, bit of a ballache, while the currency is dog shit, still gets you stuff, why spend the good money when you can spend the bad, right?
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How easy/fast is to use p2p markets there? Do you use binance? Have you tried robosats?
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There's a reasonable P2P market on Paxful, premiums are a bit steep, only payment method I could access on robosats would be paypal, then I would need to push that fiat to my bank account and declare it as foreign income to get the fiat swapped from USD to Zar, ball ache of note and add that to my income tax for the year, ball ache of note
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P2P is slower for now- trade off for privacy.
No I do not use binance
Robosats is highly recommended.
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