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@roddyrodrodrod

3 жыл бұрын

I'd watch more of your content if you mirrored it on LBRY. Why did you stop?

@tylertrachtenberg4203

3 жыл бұрын

What are your thoughts on storing your btc in a cold wallet vs putting it into a savings account like ledn? with the first, you protect your private keys but do not earn anything. with the second, you earn interest and more btc, but do not own the keys and give up some security. What is your advice? Is there some ratio of funds you would put in a savings acct vs keep in cold storage? I am really interested with your take, especially specific to ledn, as each site may give you different levels of security/reputation/comfort when deciding to leave coins there. Thank you so much!

Very. Important. Video. Thank you so much for sharing your personal life in this way. I just ran across it because I’m only now looking into what it might mean to actually live on BTC, preparing for something that I assumed was probably a few years off yet….and you showed me its happening already, that I need to be making that shift now. Love the channel, & I’ve already gladly supported some of your sponsors thru your well-researched affiliate links.

im just now getting to this podcast and it is STELLAR. THANK YOU!

Ben, great encouragement! You are blazing a trail and marking it well for those of us who know it's time to get serious about Bitcoin lifestyle adoption, and not just as a speculative 'toy' that others see it as. Well done.

AMAZING info! can we get a 2023/2024 update. version?

Simple version for some ppl: Use an exchange that has a crypto debit card. Im not sure on the fees though. Or to "get paid" in BTC. All u really have to do is use Swan Bitcoin. Ur cash goes to ur bank. Then Swan buys BTC each week. So in essence its the same it just takes a few days. Then u would send to ur wallet or exchange. Also: Strike helps convert your paycheck into BTC. Recently in news for helping NFL player

Great video, lots of good info here and answered a lot of questions I had prior to watching this video. I think this will be a good one to look back on in a few years and see how much it really has changed. Personally bitcoin is already my store of value, unit of account but is not yet my medium of exchange. I look forward to the day that last one is true.

In 3 words: I loved it!!!

All what you said was good and accurate info. I have a question: What happen if you want to make a will of your BTC? In case we die how our significant others can inherit our crypto wealth? Cheers from Costa Rica

@hpekdemir

3 жыл бұрын

Hi, I'd write my seeds to a paper (or on a more durable material) and put it to a secure location like a bank vault. Put a will mentioning that vault in case I die. A note on what those words may be also a good idea :)

I understand that many borrow against BTC

what are your thoughts on cards such as the blockcard or bitpay card?

BTC for $75K by end of this year& Control of The Currency is already Decentralised And now the China disruption would simply Decentralise the Mining for the better

Ben can you update this video? Three years later I wonder if there are more robust options for people looking to adopt the complete transition

i dont see any store in my area that use bitcoin , but i can use my credit card and repay it in bitcoin until we get prepaid debit card in canada

can you make a short episode buying stuff on amazon? thx

In USA there are numerous tax implications for using Bitcoin for everyday living not sure tax climate in Canada

What happened with Strike in Canada Ben? I didn't know they were attempting to enter this market. Thought is just in the U.S.

15 years now...

In the US it seems hard to want to do this. Going from Fiat, to bitcoin, then using something to pay bills, your bitcoin gets translated to fiat which in the US is a taxable event. So how do you deal with keeping track of all these taxable events?

@ammarnapata2193

2 жыл бұрын

I live of crypto also. Get a coinbase card and pay in usdc

This aged . . . Very very well BTC @ $69k ATH

I'd watch more of your content if you mirrored it on LBRY. Why did you stop?

At 7:14 you got me... so much waste . Even my shit phone was created to be destroyed fast.

still curious (USA) how to pay bills lightning network

you hear anyone useing the embly card?

It gives the same mentality than a Stacker .

23:50 hold up how isn’t all of this subject to capital gains tax in the US? Especially if it’s converting the crypto to usd for you

@bon10101

3 жыл бұрын

did you watch until the end?

how do you starts living on BTC during a bear market when you keep losing money ? i would like to start buying cards for grocery and gas but all my wallets are down

@beejereeno2

4 ай бұрын

Start accepting your income in bitcoin. Or convert your paycheck into btc

@28:32

Where do you hold Bitcoin? On a exchange?

@beejereeno2

4 ай бұрын

Non-custodial (self-custodial) wallet. Never keep it on an exchange. Ever.

Shouldnt the ticker be 1USD/SAT = 3300 and not like u got on blockclock SAT/1USD = 3300

@buildandfly7811

3 жыл бұрын

Or wait this BTC/USD tickers are wrong. Oh I am confused

I am trying to understand why not accepting the money from your clients and convert in BTC? Sorry for the stupid question ... I would really really appreciate an answer BECAUSE. I am an Artisan and wanted to be paid in crypto (BTc) but still trying to grasp why . The advantages ?

@BTCSessions

3 жыл бұрын

For me I get paid from clients around the globe and dealing with international transfers is a nightmare. I much prefer BTC, because I can see and access the money the moment it is sent.

@ikust007

3 жыл бұрын

@@BTCSessions almost missed Your answers ! I will go through all the videos you have related to that subject. Will I be possible to have more details if needed ? I understand you don’t work for free ...

@ikust007

3 жыл бұрын

@@BTCSessions I tried to go on your FB page but no news .

Ben, this was an awesome video! I learned so much from it. How do you keep track of your Bitcoin purchases? For my self, most of my Bitcoin comes from Swan Bitcoin. It is great. I have a database that I use, to keep track of it all. I'm curious how others keep track. With Swan, I'm accumulating a small amount every single day. That is a lot to keep track of over time. Thank you so much for sharing this video!

@Josh-zd7ln

3 жыл бұрын

Rick, I am primarily using swan as well. What is best about swan is that you have equal cost basis for each purchase in the plan. So you can export your transactions as a CSV file, and figure your total cost basis at any time. Next, they also offer an auto-withdraw feature, which you can set to a sat threshold or sweep every week. You will need to convert your CSV book entries (each tax lot) into the likely larger utxo's that are withdrawn. Once those utxo's hit your wallet, make sure to keep them separate and labelled with the cost basis. Use a wallet that offers good coin control, so you can track your basis and gains if and when you ever sell those. The simpler approach, but one which has less tax benefits, is to use the FIFO/LIFO basis. This will allow you to skip the step of configuring your new cost basis after combining daily buys into utxo's when you withdraw. You can just take the last or the first-in purchases and use those as your basis. In the States, you have short and long term gains. You want to be paying long term gains at the reduced rate (0% rate if MFJ and earning less than $97k a year in cap gains/dividend income!). To ensure only long term gains are used, only use the FIFO (first in first out) method of cost basis. Only use the utxo's from prior years.

@RickStringer

3 жыл бұрын

@@Josh-zd7ln thank you! That is helpful. I’ve looked at some of the services that track your Bitcoin for taxes, but they get expensive fast! I’ve built my own database that lets me pull in the CSV files, and hopefully will be able to do enough tracking that way. I’m not planning on selling any Bitcoin anytime soon, but it is good to know what needs to be done to keep it legal.

@Josh-zd7ln

3 жыл бұрын

@@RickStringer I highly suggest segmenting the utxo's equally, so that you track basis (and where they came from if you want to later coinjoin/have change addresses). It'll save a lot of headache years from now. I'm sure one day we will have this built-in to on-ramps and wallet software.

Have you even thought that there is some world out of Canada and US? Trust me. There is.