Long post but I think it's worth the read!
Yesterday I saw a post from Matthew Pink about him wanting to use BTC to pay for stuff, he got a lot of shit for it.
This seems to be a bit of a double standard conserding a lot of people here are saying:
Bitcoin has a real world application, as a cheap and fast decentralized payment system,it's value does not just stem from speculation.
When someone asks advice on how use it in the real world they say, why use it to pay for stuff when it will increases in value. what they are really saying is, "right now I am in bitcoin only because I think it's value will increase" proving the point of everyone who we consider to be haters when they say bitcoin is just spectulative.
Just a bit worrysome to me, maybe we are doing more groupthink than we are willing to admit, don't get me wrong. I love bitcoin and crypto, for it's functionality and for the fact that it makes me money.
If we really want bitcoin to succeed we need to encourage these kinds of things. Think about roger ver giving away free bitcoin to make bitcoin succeed (obviously for his own selfish reasons but that aside). People using BTC to pay for stuff is what gives the market incentives to make it a more accepted way of payment which will get more money flowing in, which will drive the price up of your remaining crypto.
Because I like both aspects of crypto I came up with a system to use it for both ways. nothing set in stone but I hope the idea itself is usefull some people.
Whenever I make profit on a short term trade I use that profit as follows.
15% to my long term portfolio
15% to usdt to buy upcoming dips
15% to my bitcoin debitcard to pay for stuff
15% to buy physical gold and silver to have my assets still somewhat
balanced
40% to increase the amounts of BTC I can use for short term trades
everytime a long term hold gains 30% in value I divide that 30% profit as follows:
20% of that profit I just keep in that coin
20% of that profit I use to rebalance amongst other long term holds
20% of that profit I put in USDT for upcoming dips
20% of that profit I use to buy physical gold and silver
20% of that profit I send to my debit card
It takes a lot of the emotion out of it, it allows me to grow my portfolio, profit a little from dips and also get something out of crypto in the real world.
let me know what you guys think.
