- This topic has 7 replies, 1 voice, and was last updated 1 week, 5 days ago by undeadkarlmarx.
- Thursday, November 24th, 2022 at 16:01 #410082Mobile-Alps4363Participant
I have been seriously considering eliminating fiat currency from my life, but is it really possible to do so? My initial research is finding scattered details but no worthy plans or ramifications of how to effectively transition away from the fiat system. If you are currently living outside the “system” or can provide a step by step how to resource on this topic, I will be forever grateful!Thursday, November 24th, 2022 at 16:26 #410083scabbymonkey
unless you are living under a rock, paying rent will be hard, also buying gas, groceries etc. I think the time is right for just saving and stacking sats as IF the time will come when you can. I for one have a 2036 Plan. Thats when i turn 67. I have 168 months to stack.Thursday, November 24th, 2022 at 16:26 #410087inserters_hartsock
Whats the status in el salvador? Ibread aboit the bitcoin beach where bitcoin seems to be widely acceptedThursday, November 24th, 2022 at 16:58 #410086z6xgy7u6
Short answer is: no, you can’t really eliminate fiat from your life. At least not right now.
That would be an option when Bitcoin is widely accepted for payments. I always keep a chunk of fiat in my bank account for emergencies and to pay for rent, bills, groceries and all that.
I buy Bitcoin with all the fiat that I don’t need in the short term.Thursday, November 24th, 2022 at 17:07 #410084tuxedo_moon
Not enough adoption.
I’ve put a lot into bitcoin but still needed cash to get a property, pay bills, etc. Even with the big ticket items out of the way, I still need to rely on cash for daily expenses.
Maybe that’ll change down the road but not today.Thursday, November 24th, 2022 at 17:31 #410085hyperinflationUSA
http://Www.Getonzerofiat.com podcast of people who haveThursday, November 24th, 2022 at 17:48 #410088a10lber
Here are two sites I’ve found that show businesses that accept LN-BTC payments
Here are my notes over Bitcoin.
I’ll look more into these two sites I listed above and work on adding a section to my document that shows how you could use Bitcoin for everything. I’m in the middle of moving to a new place so it could take a bit to update the document but those sites look promising.Thursday, November 24th, 2022 at 18:04 #410089undeadkarlmarx
It’s definitely an interesting idea, and while there are services that allow you to pay fiat bills with your bitcoin, I think you’d definitely still need a traditional bank acct with a credit card and lines of credit to cover expenses.
Sleeping at night knowing that every dollar you have has been devoted to one of the most volatile assets on the planet may also be an issue…
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