Topic: Bitcoin and spending habits - page 2. (Read 2078 times)
This is extremely risky, but extremely profitable at the same time... Imagine had you invested like that 3 years ago... you would have tens of millions of dollars by now.
Most people do not have this much discretionary income to be able to do something like this.
Even if you were to save, say 5% or 10% of what you spend, putting all of your money in bitcoin can be dangerous in the event that the price were to crash (bitcoin is still very speculative)
Even if you were to save, say 5% or 10% of what you spend, putting all of your money in bitcoin can be dangerous in the event that the price were to crash (bitcoin is still very speculative)
I do the same thing. It allows you to support the bit coin economy and maintain/increase your stake. I don't have the funds to buy 50% more each time but I round up to the nearest .01
Saving a big % of your gains is basic to personal finances. Also its common to the orientals save 50% or more.
Its good that bitcoin gives incentive to people do that, and ways to make people gain more, then save and invest more.
Its good that bitcoin gives incentive to people do that, and ways to make people gain more, then save and invest more.
I booked my flight for a vacation (used Lufthansa.com because the price was a lot lower than cheapair.com) which cost about $630. So after booking the flight I went to Coinbase and bought 1 bitcoin.
How did the price compare to https://btctrip.com/?
I paid for the hotel with bitcoins on Expedia for 3 bitcoins. So I turned around and bought 6 bitcoins on Coinbase after that.
Nice!
Doing it this way, I will be forced to save 50% of all of my spending.
Are you including things like rent and bills in "spending"?
I have started a new approach to my spending habits.
Every time I spend money, I buy the equivalent amount of bitcoins.
I booked my flight for a vacation (used Lufthansa.com because the price was a lot lower than cheapair.com) which cost about $630. So after booking the flight I went to Coinbase and bought 1 bitcoin.
I paid for the hotel with bitcoins on Expedia for 3 bitcoins. So I turned around and bought 6 bitcoins on Coinbase after that.
Doing it this way, I will be forced to save 50% of all of my spending. And if the price of bitcoin doubles I will have paid for all of my spending up to that point.
And if I spend bitcoins, it does not matter if the price is low when I spend it and goes up after the purchase. That just means I gained money.
Every time I spend money, I buy the equivalent amount of bitcoins.
I booked my flight for a vacation (used Lufthansa.com because the price was a lot lower than cheapair.com) which cost about $630. So after booking the flight I went to Coinbase and bought 1 bitcoin.
I paid for the hotel with bitcoins on Expedia for 3 bitcoins. So I turned around and bought 6 bitcoins on Coinbase after that.
Doing it this way, I will be forced to save 50% of all of my spending. And if the price of bitcoin doubles I will have paid for all of my spending up to that point.
And if I spend bitcoins, it does not matter if the price is low when I spend it and goes up after the purchase. That just means I gained money.
This is exactly what I have been suggesting that people do
. I do the same thing, but I dont usually use my BTC at all yet, i pretty much use it as a volatile savings account legendary
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Amazing plan for people who can afford it, congrats on your good fortune... and your future huge fortune.
This it takes persistence and a nice bankroll to be able to do that
A small portion here for now but when I finish off here I might do the same for now I will have to make do with what I can get
Cheers
Amazing plan for people who can afford it, congrats on your good fortune... and your future huge fortune.
That's and interesting philosophy, let's hope the price does indeed double lol
Wow....saving 50% of your expenses would be very hard for me.
I certainly hope that it works out!!! (Though I'd probably diversify a bit into other cryptos as well)
I certainly hope that it works out!!! (Though I'd probably diversify a bit into other cryptos as well)
I have started a new approach to my spending habits.
Every time I spend money, I buy the equivalent amount of bitcoins.
I booked my flight for a vacation (used Lufthansa.com because the price was a lot lower than cheapair.com) which cost about $630. So after booking the flight I went to Coinbase and bought 1 bitcoin.
I paid for the hotel with bitcoins on Expedia for 3 bitcoins. So I turned around and bought 6 bitcoins on Coinbase after that.
Doing it this way, I will be forced to save 50% of all of my spending. And if the price of bitcoin doubles I will have paid for all of my spending up to that point.
And if I spend bitcoins, it does not matter if the price is low when I spend it and goes up after the purchase. That just means I gained money.
Every time I spend money, I buy the equivalent amount of bitcoins.
I booked my flight for a vacation (used Lufthansa.com because the price was a lot lower than cheapair.com) which cost about $630. So after booking the flight I went to Coinbase and bought 1 bitcoin.
I paid for the hotel with bitcoins on Expedia for 3 bitcoins. So I turned around and bought 6 bitcoins on Coinbase after that.
Doing it this way, I will be forced to save 50% of all of my spending. And if the price of bitcoin doubles I will have paid for all of my spending up to that point.
And if I spend bitcoins, it does not matter if the price is low when I spend it and goes up after the purchase. That just means I gained money.
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