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Bitcoin Reddit

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Too many people think in absolutes.

If you have bitcoin and no fiat, you must sell (aka spend) your Bitcoin.

If you have an income, then you probably don't want to use your Bitcoin while you have fiat to spend.

You can put all money (even earned fiat) into Bitcoin, but you'll then need to sell in order to pay bills.

Ultimately, people think "at X price, I'll sell my bitcoin", but there is no reason to ever want to sell ALL your Bitcoin unless it is the exact amount you want to spend for something.

Instead, you can think "at X price I will quit my job". This puts you in a position where you must sell your bitcoin but you do it as and when needed. You PAY with bitcoin.

If the inflation scares you, figure out for how long you would trust fiat over bitcoin and how much you need for that time. If like me, it's just hard to guess, exchange a month's worth at a time into fiat and live off the fiat.

With products provided by companies like bitcoin visa cards and with merchants adopting bitcoin, it becomes easier to convert less and less bitcoin into fiat although in times such as this, where even stocks are doing badly vs cash, it's still worth holding cash for some time as a hedge against bitcoin in the short term for your short term payments.

Budgeting and planning are key to properly managing your finances and maximising the potential of your money.

Personally, my thought is "when I reach X Bitcoin, I can quit my job".


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