Topic: I let my last credit/debit card expire this month - page 5. (Read 5723 times)

You have a single pathetic point but you are the person that stayed in Europe centuries ago or the person that stayed on the East coast of The newly formed USA.  See you later, whateveryournameis.  Keep moving, Elwar.  You are my hero.

Because banks and credit cards are also a huge pain, and the banking system will be quick to remind you about it if you do something they don't like.

Regarding boats, I see 2 problems with them.

The first is that unless you're in the Southern hemisphere, in Europe or Florida, you'll have to pay at any port to get in.
Then boats don't last as well as houses, and their maintenance can get really expensive.

I'll stick to land, but that doesn't mean to a fixed place. Freedom is in traveling.

I don't get why everyone's supporting the OP. It seems silly to limit your choices like this. Clearly credit/debit cards still bring a lot of convenience in this world. Why not take advantage of that?

I am looking at somewhere around 40 foot catamaran sailboat. I would just live wherever the weather is nice. Though I am looking at seasteading options. They will likely have the first one up in a few years.

I always dramed with living on a boat, but at the end of the day I always chickened out, because I wouldn't feel as safe as living on a house/flat.
If you do buy it on some far away island to register it over there... are you going to live on that island, or you will go back to europe/america?
If so what kind of boat are we talking about that could travel that far?

Ok,
maybe I say this now since I don't need to buy a house, I don't need a car and so on.
It's true what you say dear QA but, anyway, as Elwar also said being debt-free gives you a kind of freedom that otherwise you can't have.

Simple example:
I still use a Samsung Galaxy Nexus bought in 2012: I did not want any contract, anything. I could have had any phone I wanted but I simply love that one and I bought a new battery on Amazon for 12$ which works just fine!

Of course, you could say, that's a small scale example but... I feel definitely better than my friend with an Iphone who's still paying a lot of money for a 30-months contract.
One can get into the loop then: today Iphone 6, next year Iphone 7 or whatever always with one contract.
Then one day it'll be the car, then the house and so forth.

I'm not saying it's good or bad. I say that, if I can, I say no.
 

Nice discussion

Sure, your debt days are behind you as soon as you pay off your home loan. I think as long as you never want to own a home or buy expensive things anyone can live debt free. That life isn't for me because I like my home and my cabin on 4 acres in the woods and leasing a new car every year instead of buying one every 4-5 years and vacations that are easier with credit cards than without, etc.  I do commend your personal sacrifice though. I couldn't do it because I'm a spoiled brat with lots of nice toys. lol

I will buy it. If Bitcoin is over $1k I will pay the guy with bitcoins. Otherwise I will sell my house and pay for it.

As for asking where I got the money...I will likely be buying the boat in a foreign country, most likely registering it under a bahamas flag. If I do pay with bitcoins I will do my darndest to pay the appropriate income taxes because I love the IRS and want to have sex with any agent reading this.

Will you be buying the boat or renting it?

If you'll buy it, aren't you at risk of being caught? what if for some reason they ask where did you get the money from to buy that boat?
That would be my biggest concern, because once they ask you.. what options do you have?

I like following Dave Ramsey's advice on living debt free. Only buy what you can afford, work hard to pay off your debts so you can let your money work for you.

My co-workers are driving around expensive Camaros, the latest BMWs, etc. I could afford just about any car I want but I bought a 5000 euro 2006 Smart Roadster. I enjoy driving it, it has great fuel mileage and runs great. I paid cash for it. If the bitcoin price wasn't so low right now I'd be putting more toward paying off my mortgage, I was putting $4k per month toward it last year when the price was high, now I'd rather have that extra money going toward cheap coins. But I should have it paid off in the next couple of years. Then I will be truly debt free and free from the chains of the banks.

Loans are an unavoidable part of life, I'm afraid. I could afford my first home. I paid it off and I've purchased three more. But without a loan I'd still be saving for my first home purchase.

You can live just fine without loans or credit. I have a divorced long time friend who's psycho wife ruined him financially. He ended up in bankruptcy. He has no credit and complains constantly about the things he can't do without loans or credit. He wanted a new wide screen TV because his old one quit working but couldn't afford it. Without credit he couldn't get one so I loaned him five hundred dollars for a few months. Essentially, I became his bank and gave him a loan.

Every time you borrow money from a friend or family you secured a loan. Just because the loan originator was not a bank does not mean loans are absent from your life.

Are you from the UK?
Why do you always need loans? To buy things you can't afford?
I'm living temporarily in the UK and I see what you mean. But I live fine even without loans. It really depends on what kind of lifestyle you want.
I'm sorry man but if one has debts, loans, whatever one can't consider himself free.

Do you understand what I mean?

I don't think it's THAT much of a gamble. If you understand and believe that Bitcoin will work, it's simply trusting and using the system.

I'd do it as soon as my credit card gets paid off!

They should have made a documentary about you instead of Morgan Spurlock that shows how you survive solely on bitcoin and interview why you have come to that decision. Well what can I say, just admire your determination and your belief in bitcoin.

I'm certainly not the first to drop my credit card. Dave Ramsey encourages people to drop their credit cards and switch to cash all the time. Plenty of people do it all the time. Getting rid of the bank will be different but I don't think impossible.

This is a truly bold move that the vast majority of people could never hope to do. Most of us need continuous established credit for the loans we all get periodically. I myself am about to lease a new car. I prefer leasing over purchase because I roll it into a new car every year or two. In order to lease a car you need exemplary credit, a bank account with a substantial balance and some history.

Home purchase or large luxury purchase (boat, plane, vacation cabin, etc.) with cash is way outside the means of all but perhaps 1% of the population. Many people could probably save up for a few years to buy a car with cash but what if your car breaks down before you've saved enough? Well, you need a loan then.

Landlords where I live run credit reports. If you don't have established good credit you will not rent an apartment or a home anywhere. In fact, you would be lucky to rent anything available for rent without credit.

Most of us would probably be terrified to convert all of our wages to Bitcoin (or any stock or bond) because of its high volatility. If all of the products I need routinely (including petrol, electricity, natural gas, etc.) were denominated in Bitcoin I might think about it. With all things being denominated in fiat, including Bitcoin, you are gambling the value of your daily labor as surly as if you went to a casino after work every day.

You are a very brave individual living under very special circumstances. Best of luck!

You know, yes I did get that feeling now that you point it out.
And now that I'm gonna point it out, banks aren't all that "old", and how long have credit cards been around? How long has it been that governments don't let you freely use cash, put on a $10k withdrawal limit, and require you to have a bank or credit card for a lot of things?

In a way Bitcoin is the future of free commerce, on the other hand it brings us back to the coffee can buried in the back yard days when commerce used to be free. But the key is free commerce without being in the monitored and regulated big brother system.

It's nice that you're trying to live off Bitcoin, but getting 100% in BTC just to sell some on LocalBitcoins seems complicated. Why don't you get a BTC debit card from Xapo or Bit-x? (you don't have to keep much money in their wallets)

I would love nothing more than cut all ties with my bank account.

Fortunately, Belgium is relying mostly on cashless payments & we do get wire transfer papers every month, which I could pay through Bitbill or BitWala.

The one thing holding me back is the mortgage, as there is no way to circumvent that

Just reading this topic makes banks look old.
I feel like I'm in the future reading a post from 2009 when bitcoins were really cheap. Does anyone else feel like that?