Bitcoin Forum

I watched last night the Bitcoin Podcast with Walker, where the guest was the well-known Canadian Bitcoin YouTuber Ben BTCSession
https://www.youtube.com/watch?v=Fv6X7jg26wE

He talked about his experiences living on the Bitcoin standard.

Since I started attending Bitcoin meetups of the Balkan Bitcoin community, Ive met several people who live on the full Bitcoin standard. Some of them have shared their experiences on the Balkan Bitcoin community YouTube channel.
If someone from the Balkans understands the language, they can check out the video playlist about living on the Bitcoin standard in the Balkans here.

https://www.youtube.com/playlist?list=PLZip6DrfABU8WvR6Y6ATMLY7dFe00c7fb

 Im curious if anyone on the forum lives on the Bitcoin standard and what your experiences of living on the Bitcoin standard are in other parts of the world.

Something he said that is absolutely true. Everybody who hears of Bitcoin for the first time thinks they missed the boat. This is very true. People who meet bitcoin at $1 felt they missed the boat, people who met it at $10 felt they missed the boat, same with people who met it at $100, $1,000, $10,000 and now there are people seeing bitcon close to $120k and they still feel they missed the boat, but they fail to see that one day it might be a million dollar. And they're not saying that it will cap at a million, because it has the potential to even get to ten million. Currently, there is no limit to what Bitcoin can achieve.


This is not something I can do even if I want to. There are a few people who may accept bitcoin, but they're very few, not even up to 0.001% of the people. Coincidentally, you may meet an Uber driver or a vendor that accepts Bitcoin, but you might not meet more than 5 of them the whole year  ;D.

Living on a BTC standard is too early of a thing to do, imo..

In many places, even where the crypto is cherished, there is not that much infrastructure and people going for BTC as the main option..

Most people are living on Bitcoin standard already, what you don't know or understand is that Bitcoin standard isn't about rejecting the old system entirely, it is about building a parallel one, the one that offers more freedom, this was why I choose Bitcoin in the first place.

The majority of my properties that I bought since 2023 was paid through Bitcoin payment, from mining hardwares to electronics like my computer build and also some home appliances.

Living on a Bitcoin standard is by choice, and also a practical life style, Bitcoin rocks because it is capable for use as a means of been in total control of your financial future, preservation of wealth and also fighting for that same monetary global revolution.

I am really not interested in watching videos but I can share a very famous story of a family that sold all their assets, their house, and have lived with Bitcoin standard in many years.

How One Family’s ‘Adventurous’ Decision Changed Everything (https://news.bitcoin.com/this-man-sold-his-house-for-bitcoin-in-2017-now-he-can-buy-25-homes/)

About the family, I am unknown that how they can secure their safety as they are famous and they travel around with bitcoins. It's kind of very dangerous travelling and nomadic life and I think their family life would be better if they keep their investment in bitcoins privately.

Life on Bitcoin stardard is the primary mediums of exchange and store of value and it varies in different aspects of life.

Bitcoin stardard can make Individuals  have full control over their financial transactions and assets, Bitcoin can also lead to reduce the rate at which government has control over financial transactions.
The idea of living on Bitcoin stardard Sparks the potential increase access to financial services to some regions, because Bitcoin increase significantly making investment very lucrative.
This also has Bitcoin limited supply making it a potential hedge against inflation

Now if you adopt Bitcoin stardard you will experience a shift in how you manage your finances,one needs to understand the epics and stay informed about the Bitcoin market trends, and the security measures.

Bitcoin stardard of life offers both opportunities and challenges,it's good to understand the implications and the risks involved in adopting Bitcoin as a value for exchange services

I'm curious about what the Bitcoin standard of living is like because so far I've only considered myself a small investor taking advantage of opportunities to achieve financial stability. This has certainly worked out well for me personally, as since learning about Bitcoin investing, my overall financial situation has improved, although I'm not yet wealthy. I think many people have benefited significantly from investing in Bitcoin, as this asset offers the potential to achieve financial freedom if invested consistently.

If you are investing in bitcoin, using bitcoin for payments to have anything, it's your life engagement with Bitcoin. I think it's enough for a Bitcoin standard life and you don't need to invest many satoshis or bitcoins for having a Bitcoin standard life.

With very good future of Bitcoin in my belief, and I also many other people think the same, it's recommended to invest as most as possible into bitcoin, and hold your bitcoins for as longest time as possible, though it's kind of wrong thinking to say only people who have considerable amount of bitcoin can have a Bitcoin standard life.

Investment in Bitcoin is good but only invest your discretionary income as it can help your investment management better, more easily and less risky.

I think it's more of a concept than something concrete, in my opinion.

If you use your BTC for services and not only for that, you are already doing a big job and a good one at that.

It has been previously discussed before on this forum about a man that lives his entire life depending only on bitcoin for buying and selling or any other financial transaction he may wish to partake, secondly, other instances whereby the people have been using a decentralized exchanges for their p2p trading and transactions, because they wanted to make use of the opportunity in this same offer from what bitcoin has come to render.

Lastly, you will also discover how bitcoin has been used in making online transactions and payments, store of value and many other benefits that individuals and organizations have to depend on it for their daily use, all these examples mentioned are part of the life on a daily basis with bitcoin. 

This doesn't meaning the meaning of the Bitcoin standard of living, as the OP expressed it. It shouldn't be limited to larger burials, even if it does relate to large sums that can live a Bitcoin-standard lifestyle. The interesting part of this discussion isn't the standard factor, but rather how everyone can responsibly approach this decision. If we look more broadly, there are still many people who have money but don't and are still untouched by Bitcoin. Simply put, it's not how they get started, but how they persist and continue to strive to increase their interest in investing, and ultimately, they will find a path to the financial freedom that most people desire.

You can disagree with me, agree with OP, I give you respect for different thinkings between us but honestly, my life is not decided by any standard like Bitcoin standard defined by OP or you. I am happy with my investment in Bitcoin, are confident with my accumulation and holding for long term, and along the way, I am ready to spend small part of my bitcoin, take profit partially to use. That's how I am living with bitcoin and I feel good with my own Bitcoin standard life.

The book, The bullish case for Bitcoin (https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1), with many insights can help us having more knowledge about Bitcoin, build up our strong belief in its bullish future, increase our confidence in investment, and have kind of Bitcoin standard life. As said, different people have different criteria for their Bitcoin life.

Many people these days prefer to hold bitcoin as a store of value and do not consider spending it on other things.
Hence living a life on bitcoin standard, as in making all payments using bitcoin would not be the ideal choice for many.
But yeah, there are several people who have made their life with bitcoin, that is, by investing in bitcoin and gaining massive profits.

We have to look at it this way, fiat has been used as a payment currency only and does not best fit in for a store of value, because of inflation, while in bitcoin, we have have both being applicable and serve on these purpose, because it increases in value over time, we are left with the choice of either investing, trading, holding, or preserving our asset value in bitcoin over a long time and still enjoy any other benefits that could comes under the use of a decentralized network.

As they say, now is the lowest or cheapest you will see bitcoin so if you could afford to buy it now do not even hesitate and do so. A lot of people have waited too much that they end up missing out on a particular bull run or pump of the market so they regret it.
It is quite interesting. Is bitcoin well accepted in the balkans region? I do not even think a lot of people know where balkan region is lol. It is definitely not the most famous parts of Europe. But those are European countries and if they are living with the bitcoin standard already then that is quite impressive.

Accordingly it depends upon how a person thinks
As Bitcoin earnings are huge after conversion in Indian rupee and considering the rate going on right now that's +100k in $ and it's more than 1 cr. in Indian rupees
So it is obvious that a person can live a KING's life in INDIA
And hopefully I would suggest people to come and visit India if it could be possible for them to live 7 star life...
which I also hope to live in 0 dimension ,
I feel like I talk and discuss dimensional level knowledge so a real life experience is also necessary that's why i want to earn money  and wanted to grab opportunity earlier but NOW it's right time to earn in Satish's

True that, the only thing most people can do is to hodl Bitcoin, and convert it to use whenever they want to fund anything.  In my country, although we are Bitcoin-friendly since Bitcoin is recognized as a mode of payment, only a few establishments are accepting Bitcoin, and even our popular online shopping platforms don't have an option to pay in BTC.  So it is hard to have a life on the Bitcoin standard unless a person is living in a place where Bitcoin payment is a norm.

Currently, it is 1.1 crore but is it enough to live like a king? :P

1 crore will get you an 600sqft apartment in the tier 1 cities and I am not including the registration and other bribes so if you managed to save 1.1 crore then good luck you got the tiny apartment under your name.

If you want to live like a king then it will cost hundreds of crores because even the basic government officials make money in crore with all the bribes they are taking for every signature.

How do you think the infrastructure becomes available? Someone who wanted to live on the BTC standard started making it happen. If you don't do anything for it due to laziness then you can't expect it to be available for you. Some people are lucky and live in there areas though.

Did you ask any of these businesses to start accepting Bitcoin?  :) :)

This has nothing to do with agreeing or disagreeing, but rather, we should discuss it based on our individual understandings and perhaps the goal of seeing better results based on facts. Everyone has goals for a better life, especially utilizing Bitcoin in an effort to achieve financial freedom. Perhaps you share my view on long-term Bitcoin investment. But the difference is that I've never spent my Bitcoin to sell it for a specific purpose, as I'll sell it based on a percentage of the price once it reaches its peak. Differences of opinion are natural, as we live in a free space that requires mutual respect.

Before you can think about making all payment using Bitcoin it means that you have accumulated enough Bitcoin and for me people that engage in this are those set of people that start accumulating Bitcoin when bitcoin had no value those set of people have huge amount of Bitcoin in their wallet and they can even stay without working and still have a good life because they already have huge amount of Bitcoin that can take care of them till the end of their life, but for those who are still accumulating Bitcoin they can't be using bitcoin for all their payment because they want to hold and not spend because they have not reached the amount they want to and even if they get to that amount using bitcoin for payment will be hard for them because they Bitcoin as an investment.
To be honest those who started Bitcoin when Bitcoin had no value are very lucky in fact they are the luckiest set of people in the world right now.

I love the way he explains the comparison between Bitcoin and the current financial system. He tries to explain it simply, that over time, there will be more and more fiat, which will make things or stuff more expensive, here, he tries to explain inflation due to fiat printing. So, I completely agree with him that Bitcoin has a fixed value, which means it can maintain its value, and can even experience significant increases in value in the long term as he said. Well, we can conclude that saving in Bitcoin is a smart move to preserve the value of our money. Just imagine, after we have painstakingly set aside some of our hard-earned money to save as fiat for years, and try to compare it to saving it in Bitcoin, then we can conclude that Bitcoin can be our financial savior in the future (than fiat).

According to me though that's a wrong assumption you have there about bitcoin.
It is not mandatory to keep it holding forever and only if you spend it somewhere or sell it, then you would be able to utilize its benefits.
This doesn't mean that he has already acquired the amount of bitcoin he desires but simply that he is actually using bitcoin for payments.
He can still go ahead and continue accumulating bitcoin as and when he get more money for buying bitcoin.

For example: A person wants to buy something from a shop where he is getting an additional 10% discount on bitcoin payment then he can do the bitcoin payment.
He can gain the 10% discount and then continue buying more bitcoin when he gets the money.

That is why I always tell people that now is the best time to invest a Bitcoin, few years ago was the best time to buy Bitcoin at a very low price the next best time is now, in the future we will still see when it's was very low referring to now
Up till now people still feel that there is a best price to buy Bitcoin the probabilities of Bitcoin changing trend is very low. So the best price us now, remember it's a long term investment

]The reason why most people fail to understand that the best time to buy bitcoin is now is simply because they fail to understand the potential of bitcoin. Some people feel bitcoin has gotten to its apex and such they think investing now will be a loss to them. So they live with the guilt of not investing when the opportunity presented itself to them, little do they also fail to realise the opportunity before then by investing now.

If bitcoiners continue to pay attention to getting a perfect dip to enter the market, they might end up missing more opportunities. Those who want to invest in bitcoin should do away with the mindset of waiting for the perfect entry. Instead, they should have a long-term mindset towards their bitcoin investment. If they plan for long term, no matter the price with which they entered the market, they will still get returns in the longrun. The real losers here are those who kept making excuses for why they are yet to buy bitcoins. Regrets usually comes after every missed opportunity.

Exactly, the targets of every Bitcoin holder may be the same or different, depending on their goals, strategies, and various other factors or circumstances. Clearly, we should just use our own standards; we don't have to follow others.

Moreover, some people use Bitcoin solely for trading because they feel their capital is too small and can only focus and generate profits by trading first, without investing. Others hold Bitcoin directly for the next few bullish periods. However, there are also those who are committed to Bitcoin for the four-year cycle, from bearish to bullish. Set your targets and ensure you've done your research to avoid regretting your decisions.

I think that for now, more and more people are living by the bitcoin standard of living and using it as a benchmark, but there is always a misconception when talking about the bitcoin standard of living because most of us still think that when we adopt the bitcoin standard of living, we are indirectly doing everything with bitcoin and disregarding fiat currency and not dealing with it.
But of course, this is a situation where we are still quite mistaken because, for me, even if we apply the bitcoin standard of living, fiat will still be very useful and it is not very comfortable to depend on bitcoin while disregarding fiat in the current conditions.

The Bitcoin standard of living is used as a form of flexibility where we can still do some things freely without interference from other parties, including the government or banks, but on the other hand, we also cannot rely entirely on this because the current banking system is still strong and we can use it to some extent to support our lives to be better.

By the phrase "Life on Bitcoin Standard", you may be referring to Bitcoin's existence at the center of the economy. In the past, people used to think of gold as the center of economic decisions. But now, Bitcoin is ruling alongside gold. People like to hold Bitcoin as a store of value because it acts as a hedge against inflation. People like to transact with fiat currency. But Bitcoin can be used for many purposes. It can be used as a means of transaction, investment, and savings at the same time. However, people use it more for depositing than for using Bitcoin.

Doing this at individual level is easier than having it at national level or global level.

You have your life to live and you can easily manage it for having your own "Bitcoin standard life", and don't mind what the others are doing. You of course must do things that are allowed legally in your nation to avoid legal problems with government.

At national scale and global scale, it's harder to have Bitcoin standard that might come in a very far future or might never come, but in my opinion, it is not my concern and it is also not a barrier to prevent me living my own Bitcoin standard life.

Decisions must be based on awareness, as sometimes not everything fits together, especially when it comes to financial matters. One may need to create one to focus more on the development process. Sometimes, realistic thinking isn't difficult, but the problem lies in its implementation, as many people fail. Trading and investing must be approached with knowledge, as no one succeeds by relying solely on luck. Furthermore, we can evaluate the shortcomings of the initial trading and investment process to understand how to survive in this industry.