Apeing bitcoin with credit cards and personal loans - burn the bridges with fiat \ stacker news ~bitcoin

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Apeing bitcoin with credit cards and personal loans - burn the bridges with fiat

1347 sats \ 19 comments \ @sourcecreator 31 Jul 2023 bitcoin

Anyone with balls and good credit can increase the limits on the credit cards and simultaneously take out personal loans as big as they can and ape the fuck out of bitcoin with all of it, and simply never pay anything to the banks or credit card companies.

Your credit will go to shit, but you can continue to work/earn money and use debit cards for fiat payments from that point on while you hold your new huge stack of bitcoin. Your credit cards would be maxed out so moving forward it's cash, debit, or bitcoin if accepted.

And it's not immoral or stealing because the credit is created out of thin air from YOUR promissory note (you are the true creditor), the system is deceitful scam that people don't understand at all.

Most plebs could multiply the size of their stacks if they had the balls to do this.

To top it off if they have the time to study how to write a conditional acceptance and send that to the banks and credit card companies and/or debt collectors they would be protected from any possible lawsuits that could arise from debt collectors.

You can't go to jail for unsecured debt (credit cards and personal loans). The absolute worst case scenario is getting sued by a debt collector - but if you learn anything at all about how to send mail to debt collectors in the form of a "Conditional Acceptance", you can simply insulate yourself from having lawsuits come against you in the first place, or just winning them outright if they ever do try to sue. Because debt collectors can't prove a valid contract or a valid debt, and if the original creditor sues you, they also can't satisfactorily respond to your conditional acceptance or prove the debt because it's all based on YOUR promissory note that YOU LENT THEM. They don't loan you anything and create the "money" out of thin air. Debt is a fucking joke. To top it all off your "credit score" cleans itself after 7 years. Lol. Unless you stupidly start sending payments to the credit companies or banks. Never do that. Don't pay a dime, ever.

Futhermore - what's more valuable: having a perfect credit score, which resets after 7 years anyway if you do this, or stacking multiple full bitcoins using that credit score by blowing up some credit cards and personal loans? You wouldn't be able to get any further/new loans afterwards, unless you can get the stuff off your credit report somehow, but who cares? You just stacked generational wealth. If you were looking for a home, RENT for a few years if you can't get a mortgage until your credit resets. You shouldn't be buying real estate with bitcoin at these prices anyway.

Last tip: using credit cards to get bitcoin can be tricky. Most only allow a portion of your credit limit to be used for "cash advance". Take the max cash advance possible. The rest of the credit you have to convert somehow to cash in order to be able to buy bitcoin. One way I found was to buy gold with your credit card. As soon as the gold is delivered, ship it right back to the vendor as a sale. Sell it back immediately, you get a ACH check for it. Buy bitcoin. You'll lose 8-9% of the total value transacting credit to cash in this way. Whatever, it was all free anyway. Thanks Amex.

Buy bitcoin. Short the fiat/credit/debt system. Win huge for your family. Take proper self custody. Multisig is best. Remember this is the only chance in your lifetime you'll be able to do this. Living in a 100% fiat system - what a miraculous gift. Use it to your full advantage, once we hyperbitcoinize, we're never going back to monopoly money ever again.

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20 sats \ 0 replies \ @Undisciplined 31 Jul 2023

God speed

10 sats \ 0 replies \ @mallardshead 1 Aug 2023

I'm looking at the longterm BTC chart and trying to find where this wouldn't work if your mindset is the 7 year credit clearing time-frame. See what I see? Order those balance transfer checks from you credit card companies and deposit them into your checking accounts folks.

https://imgprxy.stacker.news/m4xfuB2QyTGpZoZPlYHQY1zbx8GgJp-17eVeORLJ6qE/rs:fit:600:500:0/g:no/aHR0cHM6Ly9jZG4ubm9zdHIuYnVpbGQvaS84YmZmYmQ4MWJkZGU4M2Q2NWE5MmNhYTc0MjBkMzE4NjU2YjAzMDg5NDZkZGZlNTBmMTQ2MWIyNWMwMzkwZWFkLmpwZw

10 sats \ 0 replies \ @0330830bf9 31 Jul 2023

Relevant:

https://nakamotoinstitute.org/mempool/speculative-attack/

0 sats \ 1 reply \ @orthzar 31 Jul 2023

Is it feasible to purchase non-trivial amounts of non-KYC BTC with a credit card?

195 sats \ 0 replies \ @sourcecreator OP 1 Aug 2023

I talk about this in my post. You have to find a way to convert that credit to cash first. A portion of most credit limits can be immediately converted via cash advance, but that is usually 30% max.

The rest, I found one way that worked for me is to buy gold with the credit card from an online dealer. Then sell it back to them for ACH payment. You lose about 8-9% on the arbitrage. If anyone has better ideas for converting credit cards to cash I'm interested.

Once the cash is in your bank you can buy KYC or non-KYC, doesn't matter

0 sats \ 7 replies \ @l0k18 31 Jul 2023

A good plan, so long as one plans to be able to maintain the debt for 4 years then you can extinguish it or just expatriate :D

0 sats \ 6 replies \ @sourcecreator OP 1 Aug 2023

the idea is not to "pay the debt". There is no lawful debt. One should study this fact more before doing this in order to understand. You don't have to maintain any debt (make payments on it). Send the "creditor" a conditional acceptance with affidavit demanding proof of a valid contract, lawful consideration, and an affidavit under penalty of perjury that they did not print the money out of nothing using your promissory note. They can't, because that's exactly what they do.

You keep the cash and stack bitcoin.

0 sats \ 5 replies \ @maths 1 Aug 2023

I watch a lot of sovereign individual court cases on YouTube. It’s a fascinating reality they live in.

250 sats \ 3 replies \ @l0k18 1 Aug 2023

I did it with over $30k AUD of creative GST filings back in 2008. They first sent me a bill claiming 75% additional on top of the entire set of filings, some 9 months or so worth.

I sent their funny bill back with some special red markings on it, received a bill saying that the bill had been set off, ie, written off, and then a letter a week later from the deputy chief of taxation saying it was not correctly set off, and I got a few of these new bills, which made only a reference to a previous bill, which the last edition of this bill said ZERO owed. Set Off.

So, yeah, you don't know what you are talking about. Sure I was unable to smack down a judge trying to extort me and steal my personal property (a motorcycle that I refused to register), but I made him sweat, an hour in chambers, before he comes out to read out a list of irrelevant cases like your "sovereign individual" stories.

By the way, what made the judge sweat was me invoking the Statute of Monopolies 1624. A british law that is grandfathered into the constitution of the state I was living in (the first australian state, Queensland). I was probably one or two correct words away from being able to order full compensation for the damages they were causing me.

But there's sure as fuck no way I did not cancel a claim on my assets by the taxation office, and it used the Accepted For Value endorsement.

It made a 65K "debt" disappear.

It's like the OP says. THEY KNOW their money is fake, and unlawful by Equity jurisdiction. It is only valid as a statute, and that means, for a corporate employee. And they try to flip all that shit around, but we are the ones that are the rightful claimants to the Res of our statutory person registration.

None of the modern statutory law is Law by the standards of 200 years ago. It's all a sham that everyone has been lured into and they don't make it easy to disclaim their jurisdiction over us as superior officers of the corporation.

Do you think these pigs running this racket have any qualms about diluting the value of YOUR money to the point of impoverishing you? And are you really going to hurt any of your peers by making fiat money disappear back where it came from?

I would do this shit again, even, in the future, if I could figure out the angle for it. I just have zero credit rating so this topic is irrelevant to me, I can't get the money that way, but I can get it by tax filings. It's virtually the same thing. All of it is just about getting enough good people to be involved in it so they function as a cloak to protect the racket itself.

0 sats \ 2 replies \ @maths 1 Aug 2023

Your interpretation of the Statute of Monopolies 1624 is not consistent with the general understanding of the law. The Statute of Monopolies was enacted in the United Kingdom, with the primary goal of limiting the power of monarchs to grant monopolies, except in certain cases. It marked the end of the monopolistic royal trading privileges in England and was instrumental in the development of the concept of a competitive market. Statute of Monopolies doesn't apply to the situation described in Queensland, Australia. While historical British laws have influenced Australian legal principles, the invocation of a 17th-century British statute in a contemporary Australian legal context is unconventional. The Statute of Monopolies cannot somehow affect claims on personal assets by taxation authorities or resolve debt. It is unrelated to taxation, debt enforcement, or registration of personal property.

100 sats \ 1 reply \ @l0k18 1 Aug 2023

Did you generate that with GPT or what?

Do you even know what the statute of monopolies is? It was a prohibition against the Crown from issuing letters patent.

What do you think any government monopoly is?

They all have corporate registrations, just go look it up sometime at a registry. ALL GOVERNMENT ENTITIES ARE CORPORATIONS.

Government money is not real money, and they know it. It's just like the Continentals that were part of why the american colonies kicked out the british monarchy. It is a ponzi scheme they are using to syphon up our productivity, and it all ends up in the hands of the bankers and their corporate mates, that they spend at our expense.

No, I almost had these fuckers nailed between the eyes on this one. The judge even visibly looked stressed after I finished my argument presentation.

Also, just go dig up the Statute of Monopolies, hell gather together all of the Acts since the incorporation of british parliament, and then go look at the current Constitution of the state of Queensland. Known as the Brigalow Corporation. Also right there in the registry.

The constitution clearly states that all british law under which auspices this constitution was established, are all in force and continue to be in force, even if later law contradicts it.

100 sats \ 0 replies \ @sourcecreator OP 2 Aug 2023

the guy is just a brainwashed statist slave, deep asleep in the matrix still. Let him pay his taxes and all the interest on his credit card and mortgage accounts until he starts to wake up a little bit.

Interesting to read your anecdote, bravo. I also, would do this again as soon as possible. Working on getting the credit report restored, which would allow me to repeat. It's literally free "money" (credit) if you can understand some law and how banking and UCC work. This ridiculous world of debt instruments and corporate statutes.... Bitcoin hyperization can't come any sooner, it will be good riddance of this trash matrix these clowns created

0 sats \ 0 replies \ @sourcecreator OP 1 Aug 2023

what does that have anything to do with this topic?

0 sats \ 0 replies \ @kepford 31 Jul 2023

Stay humble, stack sats.

0 sats \ 2 replies \ @brianh 31 Jul 2023

This post is missing the obligatory, "this is not financial advice, DYOR."

0 sats \ 1 reply \ @sourcecreator OP 1 Aug 2023

Sue me, dickhead.

0 sats \ 0 replies \ @nemo 4 Aug 2023

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0 sats \ 1 reply \ @nemo 31 Jul 2023

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0 sats \ 0 replies \ @sourcecreator OP 1 Aug 2023

there's a big difference between him and me. He is making payments on his debt. I am not. Never paid a dime back, because nothing was lawfully lent in the first place. Banks scam you into thinking they lent you money and you owe them something. Reality is they monetized your promissory note as a security instrument and got the federal reserve notes created out of thin air for your account. It's your money that you brought into existence through your negotiable instrument, the note.