over 99.99% of my money is now in Bitcoin.
Is it 99.99% of your money or your net-worth?
Not my net worth, just the certain amount that was supposed to be wasted in the bank with low interest. It is better to maximize my earnings through the opportunity Bitcoin has given me since I already have an understanding of trading/investments. However, it works for me, and I spend my profits to run my monthly bills.
I don't believe you, and it sounds like a fairytale to me. Living entirely off bitcoin is doable and some people do it, but it requires a lot of work and very much depends on where you live. You need merchants and trading partners willing to accept your digital coins. It's much easier finding those in The States than in a poor Asian or African country. Every-day spending on food and supplies is easier with cash than with bitcoin. Then you have bills and taxes.
The one person I read about who lives entirely off bitcoin is based in Canada. He shops with merchants that accept crypto, buys a lot of gift cards, and turns to Bitcoin ATMs and friends when he needs cash. So even if he earns and spends crypto, he needs cash from time to time, and a lot of the spending is through payment processors that exchange your BTCs to fiat immediately.
You made me laugh pal! This is more than doble because it's what I do in recent months and is working for me. I only realize that it's a better way to earn passive income than I thought. But mind you, I have alternatives, you can read other replies joined with this for better understanding.
Don't let ideology affect your financial decisions. Managing money should be a purely practical thing. Putting all your money into a purely speculative asset with high volatility is not a good idea. If Bitcoin crashes, you will have to sell at a loss, just to cover your basic needs.
Thanks for the advice! I'm in an investment environment for long, so I do not "put all my eggs in one basket." I have other investments and assets, was just pointing to the liquid assets here.
over 99.99% of my money is now in Bitcoin.
I smirk on this; I don't know why, but is he living using only bitcoin? like if he rented a car, the payment would be in bitcoin? If he buys at a store, does he use bitcoin? How about the other 0.01% of his money and where it goes? I don't believe the OP if this is really his routine unless he will say his investment is 100% in bitcoin, not all his money.
You are one of the people that are getting the whole gist wrong. I referred to the amount in my bank account after all expenses have been sorted out. And if there is a need for me to move in more money, I do it within 10 minutes, so no big deal here.
