Spend or Not Spend your SATS 🤔⚡ \ stacker news ~ideasfromtheedge

813 sats \ 18 comments \ @flat24 17h ideasfromtheedge

Hi, many times I have read on SN or on other platforms like X (former tweeter) or in some Telegram or Discord Groups this type of disputes between users with different opinions. In many cases it is very simple, the fight goes in one direction or another, there are those who point out the importance of spending SATS, making a circular economy about it, or acquiring products or services by paying directly in SATS, among others. And on the other hand we have those who hold a vision that you should never spend or sell, that you have to be a toxic and maximalist holder.

Being honest I find some truth in both senses, of course for us to have greater use and global adoption of bitcoin, the circular economy is required, platforms like SN, protocols like Nostr which bring value to those who add value with their content or experiences, and of course it is also necessary that more merchants join every day, both small, medium and large. And in the other direction I find reason in that you have to accumulate and not spend at least in the short term, also as I understand the real game, that is, the maximum level is when you can live without selling your SATS used as collateral and live off the loan obtained for that collateral, pay the loan, recover the asset and repeat 🔁 the process again. But obviously that is a very advanced level, and it tends to vary directly from your income capacity and how long it would take you to complete a bag 💰 with a reasonable size to be able to carry out that strategy. For now my reasoning leads me to the following conclusion. And here, being honest, I try to emulate a system that I saw from a youtuber (Youtube Channel #BitcoinyCriptos) that consists of four bags with different temporal objectives between the short term, medium term and long term.

Short term talks about speculating monthly by buying and selling Bitcoin. My short-term idea has been to start measuring my personal expenses and personal goals in SATS for close objectives, for example if I need a backpack 🎒 I set the goal in SATS and start saving. And the same applies to household expenses, another example is cooking gas, it is bought every two months and paid in Fiat, we know that each month everything tends to be a little more expensive. So I have also set the amount of SATS that I need to make that payment. I also stack some to make the payment for the VPN, I set its price in SATS and I manage month by month. The plan is to convert my Fiat to SATS to complete the budget for the month, it is something that I work on week by week, and month by month to optimize.

Medium Term The original creator of the idea speaks in this phase of two projections, one of 1 year and another with the eve of the duration of a Bitcoin cycle, which we know develops approximately every 4 years. In this case, as my condition is not to speculate but to save my family, my version of this medium-term stock market is for other objectives. And they are more or less aligned with these temporal expectations, an objective within two or three years and one with a strong conviction that I will have it ready in approximately 5 or 6 years.

Long Term This is the most important section of all, the original idea suggests a stack for the next 10 years. However, here I differ from the idea, I think I can only have two long-term goals, the first is obviously my retirement, that is, my "pension", I do not intend to have to work to pay the bills until I am 70 or 80 years old. Obviously we only have one tool that can help us avoid that disastrous existential end, that of working out of necessity until death as if we were a slave in ancient Egypt while the Great Pyramids were being built. And of course it is not an option for me to aspire to obtain some pension from the State.

And the second important long-term goal is to be able to leave some generational wealth, that is, something to my daughters, although my initial plan is to teach them how to stack, manage and protect their own energy. Once that is done, before I leave this world I will reveal to them that there is something for them, I don't want them to grow up thinking that something in the future is solved without them having to do anything in the process.

I would like to know what you think about this topic, To Spend or Not to Spend? Which way do you lean? Or like me do you think there can be balance on both sides? Let me know your opinion.

Thanks for reading, keep stacking 💪🤠⚡🍊 there is only one way, it's time to burn our ships. 🔥⛵

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45 sats \ 1 reply \ @0xbitcoiner 17h

In my opinion, we should hold and spend!

32 sats \ 0 replies \ @flat24 OP 16h

Thanks for letting me know your opinion, fellow stacker. That's exactly what I think. We should coexist in a balance between spending and being diamond hands 🤲 💎

10 sats \ 1 reply \ @OT 8h

Spend where you can.

HODL culture sometimes gets a bad wrap, but its probably the driver of everything else trending to zero against it.

0 sats \ 0 replies \ @flat24 OP 5h

Of course, well said my friend! BITCOIN is our hope for the future, but at the end of the day it is a coupon that must be used sooner or later. Hopefully sooner rather than later, and life will allow us to continue stacking without problems, restrictions or difficulties. Good luck 🍀 and much success for your SATS stacking

10 sats \ 1 reply \ @kepford 13h

Spend and replace

0 sats \ 0 replies \ @flat24 OP 5h

I totally agree, spending can never be a good plan, you should never stop stacking

5 sats \ 1 reply \ @hasherstacker 15h

Spend while Hodling. You lose nothing, when using Good money and holding to the truth

0 sats \ 0 replies \ @flat24 OP 5h

Thanks for the advice! It never hurts to reinforce the good, since I began to understand bitcoin about a year ago was when I understood that all my life I had used bad money, in my town when you are a child they do not teach you that there are two moneys one good and one bad, the only thing they teach you about good money, is that it is yellow, but mainly that it is a thing of the past and they never describe it to you as money, but rather some shiny rocks that they had around here and were only used as beauty items, according to the books our ancestors willingly gave it to those extraordinary beings who sailed from the other side of the world to bring us their religion by force of the sword and for that grace of instructing us, the native Indians gave them gold and in exchange they gave churches and death to those who did not accept it. and about bad money they only teach you that it is obtained by working, obeying your boss and taking care of your work until the end of your days.

0 sats \ 0 replies \ @User21000000 1h

Only place I spend sats is on here. And since it’s so low of cost I don’t report it at tax time but if I was to use it for any substantial amount I’d have a tax event each time so to me the pain of that record keeping makes me just hold it until it’s easier to transact with it where I am

0 sats \ 0 replies \ @BTCLNAT 15h

Chapter 1 of the book The Bitcoin Standard,

"Being an instrument of exchange is the quintessential function that defines money; in other words, it is not a good acquired to be consumed (a consumer good) nor to be used in the production of other goods (an investment, or capital good), but above all to be exchanged for other goods. "

Money has different functions and the use that is given to it depends on the function that we want to use it for. Bitcoin is money, so saving it, spending it or investing it will depend on what we need.

I understand that if we have money it is to use it, of course it is not to use it for the sake of using it as if it were currency in the Monopoly Game. It is used in its proper measure. If I have the possibility of buying useful and necessary things in BTC, I do it, if at some point I use it in a trade because of its volatility, I also do it and of course, I always go back to Bitcoin and save for the future.

What I do not do is USE IT AS A NON-SERIOUS ELEMENT. I DO NOT SPEND IT FOR PLEASURE, I DO NOT SELL IT ALL IN TRADING, ALWAYS A LITTLE AND THEN TO RECOVER AGAIN WHAT I HAVE SOLD WITH PROFITS IN BITCOIN. Save, if I save and if I can ACCUMULATE I buy everything I can and do all the PoW necessary to earn it.

0 sats \ 2 replies \ @Msd0457890 15h

I totally agree with you, my friend @flat24 Bitcoin allows you to do both, as long as you have a good savings plan. I think that the stock market thing is excellent. Could you share that link so I can study it more thoroughly?

1 sat \ 1 reply \ @flat24 OP 5h

I will leave you one that helped me a lot to learn.

https://darthcoin.substack.com/p/bitcoin-proprio-banco

0 sats \ 0 replies \ @Msd0457890 4h

Take it for granted, I'm going to read it as much as possible.

0 sats \ 1 reply \ @the_optimist 16h

Spend them only for buying things directly with bitcoin, because this way you help the bitcoin circular economy, otherwise hold them. And don't exchange them into shit (fiat) money.

0 sats \ 0 replies \ @flat24 OP 5h

Mainly this is the plan, but inevitably unforeseen events tend to arise that have led me to spend some SATS or exchange for Fiat to meet some need. But I consider it okay, because that is what Bitcoin is for, to store energy that we can later use and without having degraded that stored energy. Obviously I want to get to a point where I do not have to spend, but only Stack. But life is uncertain and if I need them I will use them. That is why I try to have several chests or levels of my own bank as the master Darthcoin says, a vault level for the long term, another intermediate level to manage in the medium term, a level of spending ready to use in LN if necessary in the short term. and in case of incurring an expense, use those that are intended to be spent if the moment demands it.

0 sats \ 1 reply \ @Undisciplined 16h

I don't fault pure hodl'ers, it's not wrong to look out for your own interests.

Spenders are more like bitcoin activists. We want to help make the bitcoin world a reality. Some of us, like myself, are fairly comfortable materially and can thus afford to forego some potential gains for the sake of our ideals.

I've started doing some basic accounting, to help move towards being on a bitcoin standard. That will also help me assess what amounts are reasonable for me to spend, while still providing for my family's future.

27 sats \ 0 replies \ @flat24 OP 5h

Don't give up on your ideals and don't stop providing for your family. I consider that they are also part of the pillars that support my unbreakable will and my relationship with learning about bitcoin. Thank you for your opinion 🤝🤠

0 sats \ 0 replies \ @Akg10s33 16h

Personally, I think that applying the 3-bag system to bitcoin is necessary... a system that many people already know! Manage in the short... medium and long term!! And I would say that what you have in your "lithing" wallet, which is short term, you should spend it correctly and, as I said, promote the circular economy... and the medium and long term is about growing your assets for the future and it depends on how you manage it, also making your assets profitable!!