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@unboiled
stacking since: #1034092
0 sats \ 0 replies \ @unboiled 16h freebie \ on: Living On Bitcoin bitcoin
Yes.
We spend each year across multiple countries. Part of the year we spend in South Africa where we can buy a lot of things with Lightning at one of their major supermarket chains, Pick'n'Pay. That covers an incredible range of products, and even includes things like household water & electricity, as you can buy prepaid codes for those at PnP.
Finding ways to pay for insurance and levies, finding merchants accepting bitcoin/lightning in the other locations (we spend significant time in Europe and every other year Asia).
Another, sort of challenge was the friction to stay on top of sats in and out to track CGT. But I gladly endured that friction, rather than the lazy approach which just means supporting fiat by leaving more cash in that system.
We resolved the CGT challenge by leaving our jurisdiction, but I still keep track of the sats, cost-of-goods style.
Finally, my wife is only coming around slowly, but I need to pace myself to not alienate her. She is starting to see the light (see below for a prime example). But for now, we still have significant holdings in fiat (emergency fund) and a good old-fashioned ETF retirement portfolio - albeit we're adding very little to that these days, way more goes into BTC.
In no particular order:
- Bitrefill, I suppose I could live without it, but don't want to :)
- Crypto debit cards
- Lightning wallet & CryptoQR (the app to pay at PnP, it decodes then reroutes payment info to Lightning wallet)
- Cold storage
- My spreadsheet of sats in vs sats out, a modified FIFO cost-of-goods sheet to track how much I paid for the sats I am spending today
That last one is an invaluable tool in helping my wife - and also myself - understand the benefits of living on BTC. Prime example: We bought a cruise, and to thank her for her support and trust in me wrt. BTC, I told her I'd pay the remainder (deposit had to be paid immediately), by selling BTC - cruise operator only takes fiat, obv.
She was delighted to see we got a "discount" of over 70% by using the sats that were next in line to be spent which I bought about 3 years earlier.
All the best of luck with your channel! I'm certainly going to follow.
I'm in the early process of starting a blog on the exact same topic as you: How to live on BTC with a mix of the motivation for it and practical examples from my own life. Hoping to help early stage bitcoiners in embracing a more self-sovereign monetary life. It's still early days, but I hope to have a pipeline of posts ready soon(tm).
I'm also sure I'll be able to refer to your work, so I'm looking forward to explore your content.
GENESIS