Life on the Bitcoin standard.

[BitBakerr1]

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.

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.

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.

[Patikno]

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

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).

[pawanjain]

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.

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.

[Byebyebtc]

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.

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.

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  .

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

[Proty]

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.

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.

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  .

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.

[uchegod-21]

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.

[Rengga Jati]

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.

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.

[Raflesia]

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.

[Scarlett_23]

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.

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.

[BlackBoss_]

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.

[MarjorieZimmermanGinger]

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.

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.