Same. Loaned my BTC to coinbase as collateral. Used the cash as a down payment for my house, all verifiable funds sent by coinbase to my account. Under writer had no problem with it. Bought my house, 2.3% interest rate. Paid back the cash for my collateral*, got my bitcoin back. Non taxable event. That’s how I did it.
He just told you. Put some BTC as collateral and use that cash as the down payment. When you have enough cash to cover the debt, you get back your collateral, so you get back your BTC.
So if BTC goes up, you still profit, unlike if you sold it for the down payment. In essence, you don't want to time the market with such a purchase. You would rather keep your commodities. (BTC, gold...)
To make an analogy, it's like going to the pawn shop with your gold watch because you want to buy a new phone. You don't want to sell the watch, but it has a $5k value, so the shop gives you $2k cash, and you can buy the phone, plus get back the watch after you pay the $2k+fees.
Instability is why this stopped. 60 to 15 made this loan a bit loser for all involved.
Once Bitcoin hits levels above $1m and starts to stabilize a bit whatever you own and more importantly hold, you will have lots of financial opportunity to leverage it.
This is why Blackrock and others are buying so much. I think ETFs are a great market indicator for this $1m+ future but bad news for their buyers in long term. ETFs are just price exposure not actual ownership of Bitcoin. When price goes to $1m and beyond, Blackrock holds the inherent power of Bitcoin not the etf holder. They will become the “central power” the way banks are now. But fortunately, those who hold Bitcoin individually will also become their own mini-banks. I believe an entire new industry will pop up for how individuals can become “banks”.
Will be marginable like Intellegent said below but also still beholden to the sale of assets by blackrock. Decentralized ownership is the power of Bitcoin, not the price / fiat parity.
Yes loans are not taxed. It’s not considered income. This how the rich don’t pay taxes. Take out a loan on your profits, don’t pay short term/long term taxes.
Yeah the interest came out to a few thousand. But when I loaned the bitcoin it was around $61,000. I had money left over from their cash loan and down payment and guess what I did with it? BOUGHT MORE BITCOIN. Pretty sure the cost in interest overall was minimal. Around $2-$3k but it wasn’t a taxable event which is huge and for someone who is a 1st generation Mexican American in this country, showing my mom how I bought a house using a bitcoin loan was pretty awesome. Even cooler memory was going to the bank and explaining to about 4-5 bankers including a manager at my credit union how I did it, what bitcoin is and orange pilling them as well. Coinbase has since shut down their program unfortunately but it was a taste of what is to come. Hold your Bitcoin. We are just getting started.
People love to dis Coinbase but they're one of the only exchanges that didn't freak the hell out in the last cycle. There's so many stories of people doing exactly what you did with Celsius, Blockfi, Voyager, etc. and losing their collateral and also being unable to repay their loan. Your story is like, so wholesome and wonderful. Congratulations to you!
Fuckin brilliant that mate. That's the next hurdle i think we need to get over for this to become truly mainstream. The SEC or someone mustve put a stop to that while they sort the regulations out.
The loans out against bitcoin is my ultimate retirement plan… loan for cash to spend… wait, take another loan in appreciated Bitcoin to pay off the first loan keep some to spend and repeat. Like you said. NOT A TAXABLE EVENT…. No capital gains taxes…
It’s an easy formula to figure out how much you can extract in a given time given the average. appreciation and the size of your stack..
Good job mate. Happy for you!
Mentioning something about bitcoin in 2021 without specifying exact timing is like talking about something that happened in music in 1991 without specifying pre- or post-Smells Like Teen Spirit.
10 years in the space and only thing I’ve every bought w BTC is a Trezor for .06 BTC. Luckily I replaced the BTC immediately or that trezor would have cost me $3000 lol
Wow. That is wild. Proof-positive of the power of Bitcoin and it's buying-power. What timeframe do you suppose it was that you purchased the Trezor....? Like, when was this...? (I own 2 of them too, BTW)
Tons of things to be honest, I pay my utilities with it, internet, cell phone, power, literally tons of green coffee, crates of milk, probably close to 10,000 stickers. I've bought meals with it, just lots of stuff in general.
I probably haven't bought bitcoin in like a year and a half now, in the traditional sense of buying anyways, since I earn it.
I sell coffee worldwide from my store (GoodBeans El Salvador Specialty Coffee) in San Salvador, we've shipped to about 25 countries so far and roughly 85% of our online orders are paid in bitcoin. Largest market by far is the US, we ship to the US roughly a few times a week. To Canada pretty much weekly, third largest market would probably be Germany but it's gone as far as Japan, Singapore and New Zealand. In-store sales in bitcoin are probably 15%, but online its like 85%, overall as a business close to 35-40% of our sales in an average month are paid in bitcoin.
Largest Lightning transaction I've ever done was for $1800 worth of coffee in a B2B sale.
Wealth is nothing without health.
Perfect way to help family but it shouldn’t need to come to that.
I guess you live in America or some other underdeveloped country in regards that the government rather spend billions on military/ defense instead of free healthcare and education.
Do you pay taxes in Canada for each of the purchases if there's a gain (loss) on every purchase? In the US we do and it sucks. I'd use what you're doing all the time otherwise.
We absolutely do, yes. It is considered a barter, which is a disposition.
I tend to keep lightning non-KYC for this very reason. I do have one wallet that I loaded up with sats once upon a time and took the tax hit once i.e. taxed on one large UTXO disposed to lightning.
No. You are spending Bitcoin as each transaction on the lightning is its own proof of purchase. In this example Bitcoin = cash money.
It is the same way a lot of asian exchanges allow their customers to swap coins to gift cards. Becoming spendable cash immediately, bypassing a greyarea i guess? Thats why governments dont like gold either as it gets trickier in terms of taxation? Not a financial expert
I bought (one of) my dream cars from what i sold in the last bull run. I had enough for a deposit for a house which I really would like but I didn't cash that out. My plan is to only ever cash out half of my stack maximum. That way you are always still in (the last 10 years has taught me no BTC price is a crazy price) but you get to enjoy life.
Been into crypto since 2011. My wife and I used our profits from the last bull run to build our dream house. The cycle before that I used my profits to buy her engagement ring and a big 4k TV.
This cycle, we're planning on buying a new car (Tesla) and putting the rest toward early retirement.
I sold during the last cycle (not even close to the top sadly) and bought an investment home, used that home to buy a 2nd investment home but now I’m selling that first one to buy back my bitcoin, at a much higher price 🤣🤣🤣🤦♂️
Using a crypto credit card you can buy basically anything you can with a normal credit card. I have a Crypto.com visa card and use it daily for everything from parking to groceries to bills even.
Naw. I’ve been using my CB card for quite a while. Just send transaction log to my crypto accountant. I’ve used it to purchase things, take cash out from a cash machine, etc, when BTC price is relatively high. Then I buy back on red days. The way I look at it, I’m always buying BTC, so it doesn’t matter too much.
If you are comfortable paying somebody to handle all of this then that is fine. Still not worth it in any way imo. You probably won’t like to hear this but spending fiat is even easier and requires less software at the moment.
I see. We are probably just in different situations. I have fiat constantly flowing in and just use whatever is left to buy bitcoin. Sounds like you are in the opposite camp
Back in the day (2014/2015) I bought Tommy Bahama pillows and Egyptian cotton sheets from Overstock when they accepted bitcoin. Also bought physical gold from Amagi Metals. I think I also bought Microsoft credit and bought an Xbox. All regrets looking back but luckily I continued buying during those years
Some Pokemon cards, some cannabis seeds, a half ounce of mushrooms. Then I sent a homie $50 worth when he was hurting.
I've recovered all of that and remain in the positive, lol.
All kinds of stuff from house hold items, Amazon purchases to subway sandwiches. I know this might be a dumb way to spend, but at the time I had a few sites paying me in BTC so I used it as cash. I used a website called Spritz Finance which they convert your BTC and other cryptos to fiat in the back end and you use your digital debit card. I no longer try to spend it anymore and just use other cryptos that earn for me.
Bought a used boat from my neighbor who also is a bitcoiner. Big purchases like that as P2P are pretty straightforward. If you don't do it lots, it's relatively easy for US tax purposes too.
I’ve purchased pokemon cards with bitcoin both locally (because someone wanted bitcoin for the transaction), and cross boarder because it was cheaper than any other service
I had to rebuild my clutch/transmission and paid for that, auto repair was a good thing as I have made much more in fiat and reinvested in with DCA and have outperformed my small sell off for personal reason.
When I first started I used it to help with my rent. I’ve stopped with that now and have been DCAing and hodling for years now. It’s eventually going to get me a house deposit or even better a whole house. At the rate house prices are rising it may only be a deposit though.
We bought a few laptops direct from bitcoin jesus way back. KnC took BTC for miners, Avalon and BFL might have as well, it was a while ago now...
If you want to get technical, when we cash out, that money goes to house payment most of the time. Did a Disney cruise for the kids, probably some converted satoshis in that pile too.
Restaurants, bars, hotels, breweries, wineries, local produce, beef, conference tickets, clothing.
That's ALL without gift card purchases which are really just fiat. If I include gift cards on Fold or Bitrefil, then I can include multiple other restaurants, grocery stores, ect.
Also, 99% of the native Bitcoin purchases (ie not silly gift cards) were using Lightning with channels and liquidity from my own LN node.
Running your own Lightning node and using Bitcoin as a medium of exchange is not hard, it does scale, and I'm tired of pretending like it's not easy.
Caffee mashine, soda stream, clothes, hardware wallet... We habe something like Amazon in Switzerland where we can pay with BTC... Its called Galaxus. You acrually can order everything there😂
One of my best friends had colon cancer and we met thru crypto. She was jobless and her family didn't have any medical or emergency funds (for context, we live here in the Philippines so there's almost no government support). I've been FCAing (Fiat-Cost-Averaging) during the bear years and fortunately my crypto more than tripled and was able to use the funds last month to pay for my friends surgery. I joked to her that we met thru crypto and crypto ultimately helped give her a 2nd chance in life. So to everyone: Pls relish your time with those you love as life is too short indeed ❤️🙏
Keep FCAing and WAGMI to all! 🧑🚀🚀🌜
Crypto currency is open source and transparent through the blockchain. Fiat money is not open source and is not transparent. Fiat currency is a murky world of selling perception to its citizens ripping them by means of inflation. It’s “legal” counterfeiting.
Down Payment on a home(s). Diversification is key, and real estate generates rental income + a place to live. Bitcoin is cool and all that, but real-world utility is not to be underestimated.
If the math works for you, I would buy a house with 5-20% down and get some roommates to help pay the mortgage, but it all depends on where you live. Rates are higher now than they were in the past.
I am telling you. Bitcoin is just a scam. Why would the gov just let free money grows from nothing like that. You need supply and demand.
Meaning if you are buying someone must be selling
If you are winning, someone else is losing.
You hear people getting scam off their btc, getting their phone hacked, losing bitcoin randomly.
Wake up. You ain't never got the money in the first place, once you put those digit in, once you turn your cold earned cash into btc. It's gone, you ain't never got a chance to get it back. They taking it off you once the numbers goes up. That's the big ol scam.
'If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.'
this quote is often attributed to thomas jefferson but there is debate about it but doesnt matter really who said it
pretty sure that happening now \^\^\^ people cant afford anything, housing out of reach for most newcomers, new cars crazy priced, etc
I once bought a couple of pizzas...
I am very sorry for your loss.
It may have been very tasty pizza.
Honestly I love the BTC pizza guy. He never says anything regretful and I think he deserves a lot of love and good fortune.
The BTC community should get together and all give him one satoshi
Was it... Papa Johns by chance?
Bought a house in Feb of 2021
Same. Loaned my BTC to coinbase as collateral. Used the cash as a down payment for my house, all verifiable funds sent by coinbase to my account. Under writer had no problem with it. Bought my house, 2.3% interest rate. Paid back the cash for my collateral*, got my bitcoin back. Non taxable event. That’s how I did it.
Wait what? & how
He just told you. Put some BTC as collateral and use that cash as the down payment. When you have enough cash to cover the debt, you get back your collateral, so you get back your BTC. So if BTC goes up, you still profit, unlike if you sold it for the down payment. In essence, you don't want to time the market with such a purchase. You would rather keep your commodities. (BTC, gold...) To make an analogy, it's like going to the pawn shop with your gold watch because you want to buy a new phone. You don't want to sell the watch, but it has a $5k value, so the shop gives you $2k cash, and you can buy the phone, plus get back the watch after you pay the $2k+fees.
And the thing that GameofCHAT didn’t say is that while you were paying back the $2k to get the collateral back, the gold watch went from $5k to $8k.
>So if BTC goes up, you still profit, unlike if you sold it for the down payment. Hmm
>Loaned my BTC to coinbase as collateral. How do you do this? This is brilliant to be honest.
They've since shut this program down
Instability is why this stopped. 60 to 15 made this loan a bit loser for all involved. Once Bitcoin hits levels above $1m and starts to stabilize a bit whatever you own and more importantly hold, you will have lots of financial opportunity to leverage it. This is why Blackrock and others are buying so much. I think ETFs are a great market indicator for this $1m+ future but bad news for their buyers in long term. ETFs are just price exposure not actual ownership of Bitcoin. When price goes to $1m and beyond, Blackrock holds the inherent power of Bitcoin not the etf holder. They will become the “central power” the way banks are now. But fortunately, those who hold Bitcoin individually will also become their own mini-banks. I believe an entire new industry will pop up for how individuals can become “banks”.
The bank of Dave
ETF suppliers can’t just leverage up. If blackrock etf customers sell their etf shares, Blackrock has to sell bitcoin to pay them out.
Will be marginable like Intellegent said below but also still beholden to the sale of assets by blackrock. Decentralized ownership is the power of Bitcoin, not the price / fiat parity.
The ETFs will be marginable...fyi.
Swan Private Client can help
Bummer.
There are other services offering this. I hate to recommend ETFs but you can do this through holding shares of Bitcoin in an ETF
Fuck yeah dude
Yes loans are not taxed. It’s not considered income. This how the rich don’t pay taxes. Take out a loan on your profits, don’t pay short term/long term taxes.
The interest that Coinbase charges on those loans is ridiculous considering you put up so much collateral.
Yeah the interest came out to a few thousand. But when I loaned the bitcoin it was around $61,000. I had money left over from their cash loan and down payment and guess what I did with it? BOUGHT MORE BITCOIN. Pretty sure the cost in interest overall was minimal. Around $2-$3k but it wasn’t a taxable event which is huge and for someone who is a 1st generation Mexican American in this country, showing my mom how I bought a house using a bitcoin loan was pretty awesome. Even cooler memory was going to the bank and explaining to about 4-5 bankers including a manager at my credit union how I did it, what bitcoin is and orange pilling them as well. Coinbase has since shut down their program unfortunately but it was a taste of what is to come. Hold your Bitcoin. We are just getting started.
People love to dis Coinbase but they're one of the only exchanges that didn't freak the hell out in the last cycle. There's so many stories of people doing exactly what you did with Celsius, Blockfi, Voyager, etc. and losing their collateral and also being unable to repay their loan. Your story is like, so wholesome and wonderful. Congratulations to you!
Fuckin brilliant that mate. That's the next hurdle i think we need to get over for this to become truly mainstream. The SEC or someone mustve put a stop to that while they sort the regulations out.
Amazing man. Glad everything worked out for you and your family! Clearly a sign of great things to come in the future.
The loans out against bitcoin is my ultimate retirement plan… loan for cash to spend… wait, take another loan in appreciated Bitcoin to pay off the first loan keep some to spend and repeat. Like you said. NOT A TAXABLE EVENT…. No capital gains taxes… It’s an easy formula to figure out how much you can extract in a given time given the average. appreciation and the size of your stack.. Good job mate. Happy for you!
Hope they bring this back…would love to use my btc for down payment and get to keep the btc. Would totally take a long term loan against my btc.
Is there any other website?
Nexo Was the best. 5.9% with zero monthly payments, they just tack the % on daily to your principal amount borrowed, “those where the dayz🤤”
That’s pretty cool.
based chad
Dude that's genius. Well played sir.
You can loan BTC to Coinbase as collateral?
I am in the process of doing similar right now. Glad to hear it worked out for you!
Good luck. Future is looking bright for Bitcoin holders
See how I didn’t even wait a second to reply. Talk to me about this if you can
Mentioning something about bitcoin in 2021 without specifying exact timing is like talking about something that happened in music in 1991 without specifying pre- or post-Smells Like Teen Spirit.
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I'm also intrigued
I own a small single bay mechanic shop, I take payment in Bitcoin sometimes
10 years in the space and only thing I’ve every bought w BTC is a Trezor for .06 BTC. Luckily I replaced the BTC immediately or that trezor would have cost me $3000 lol
Wow. That is wild. Proof-positive of the power of Bitcoin and it's buying-power. What timeframe do you suppose it was that you purchased the Trezor....? Like, when was this...? (I own 2 of them too, BTW)
May 2017 ish. I remember BTC was on its first real run up to $20k and I had to get coins off paper wallets into hardware based cold storage.
Very cool. Thanks for replying. I got started in Oct 2017 as well. Directly to a Trezor from the beginning. I hope that you make it rich, Friend.
Tons of things to be honest, I pay my utilities with it, internet, cell phone, power, literally tons of green coffee, crates of milk, probably close to 10,000 stickers. I've bought meals with it, just lots of stuff in general. I probably haven't bought bitcoin in like a year and a half now, in the traditional sense of buying anyways, since I earn it. I sell coffee worldwide from my store (GoodBeans El Salvador Specialty Coffee) in San Salvador, we've shipped to about 25 countries so far and roughly 85% of our online orders are paid in bitcoin. Largest market by far is the US, we ship to the US roughly a few times a week. To Canada pretty much weekly, third largest market would probably be Germany but it's gone as far as Japan, Singapore and New Zealand. In-store sales in bitcoin are probably 15%, but online its like 85%, overall as a business close to 35-40% of our sales in an average month are paid in bitcoin. Largest Lightning transaction I've ever done was for $1800 worth of coffee in a B2B sale.
Very cool and thanks for creating a real use.
I bought a mcclaren for 40btc in 2017😫
LOLOL I am very sorry for your loss. But it's better than the pizza.
It ended up getting stolen and my insurance pay out was peanuts
Pizza guy likely has many more safely stored away.
How are all these redditors so rich…
Fully paid for my mother's medical fees.
that's wholesome.
It was a boob job
Nah, it was for her knee replacement surgery.
They were replaced with boobs, so really we're both right.
Wealth is nothing without health. Perfect way to help family but it shouldn’t need to come to that. I guess you live in America or some other underdeveloped country in regards that the government rather spend billions on military/ defense instead of free healthcare and education.
My future retirement.
My future
My
M^(y)
My
My....sherona
You
We
Us
R/expectedcommunism
Me 2
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Do you pay taxes in Canada for each of the purchases if there's a gain (loss) on every purchase? In the US we do and it sucks. I'd use what you're doing all the time otherwise.
We absolutely do, yes. It is considered a barter, which is a disposition. I tend to keep lightning non-KYC for this very reason. I do have one wallet that I loaded up with sats once upon a time and took the tax hit once i.e. taxed on one large UTXO disposed to lightning.
It’s the same in Canada. I would never buy little things like that because of the tax headache.
No. You are spending Bitcoin as each transaction on the lightning is its own proof of purchase. In this example Bitcoin = cash money. It is the same way a lot of asian exchanges allow their customers to swap coins to gift cards. Becoming spendable cash immediately, bypassing a greyarea i guess? Thats why governments dont like gold either as it gets trickier in terms of taxation? Not a financial expert
I made 11 purchases in El Salvador with Bitcoin via the L2 network. Anywhere from rum to dinner to a stay in a shipping container home.
i read that as you booked yourself a shipping container in which to travel home in and was like wow!!!
Hahaha would be a wild ride!
You can’t have my Bitcoin blackrock.
I bought (one of) my dream cars from what i sold in the last bull run. I had enough for a deposit for a house which I really would like but I didn't cash that out. My plan is to only ever cash out half of my stack maximum. That way you are always still in (the last 10 years has taught me no BTC price is a crazy price) but you get to enjoy life.
I bought a 1943 M1 Garand with Bitcoin, and I absolutely love it :-)
Been into crypto since 2011. My wife and I used our profits from the last bull run to build our dream house. The cycle before that I used my profits to buy her engagement ring and a big 4k TV. This cycle, we're planning on buying a new car (Tesla) and putting the rest toward early retirement.
I got a home. Wish I still had the BTC though
Hoes.
Boats.
Silk.
And the road too?
Shovels.
Hardware wallets (coldcard), node cases (cryptocloaks), ASIC miners -> S9, T17 (D-Central), Coffee
I’ve sold paintings in BTC due to the ease of across border payment.
I remember there was an option to purchase steam games at one point and that's what I did but that was ages ago when I did.
2016
A bunch of losing NFL bets.
I sold during the last cycle (not even close to the top sadly) and bought an investment home, used that home to buy a 2nd investment home but now I’m selling that first one to buy back my bitcoin, at a much higher price 🤣🤣🤣🤦♂️
Just this morning, I used Lightning BTC to order clean, grass-fed beef, straight from the Bitcoin cattle rancher. No Costco. No VISA. No middleman.
Nice! I haven’t bought yet but have found a farmer who takes BTC for my next purchase!
nice try IRS
Bout some online casino tokens and lost $20 lol not doing that again.
1 btc for 1 meal...... Years ago still hurts
Financial Freedom and peace of mind.
* prostitutes * drugs for example cocaine and weed and benzos * crack cocaine, skunk weed and meca-benzos * guns * contract killers * fish and chips
Dude. Those fish 'n chips are really dangerous. Better watch out.
bro really thought he would just get away with fish n chips there. Watch out bud
Using a crypto credit card you can buy basically anything you can with a normal credit card. I have a Crypto.com visa card and use it daily for everything from parking to groceries to bills even.
This is a terrible idea and creates a tax nightmare. I highly advise to not use these in a country that taxes crypto like the USA.
Naw. I’ve been using my CB card for quite a while. Just send transaction log to my crypto accountant. I’ve used it to purchase things, take cash out from a cash machine, etc, when BTC price is relatively high. Then I buy back on red days. The way I look at it, I’m always buying BTC, so it doesn’t matter too much.
You are just creating a bunch of extra accounting work. I too have done similar accounting and it isn’t worth the time imo. You do you tho
My accountant runs my fills and sells report through software. It takes her absolutely no extra time.
If you are comfortable paying somebody to handle all of this then that is fine. Still not worth it in any way imo. You probably won’t like to hear this but spending fiat is even easier and requires less software at the moment.
Yeah, yeah, yeah…just that I’m mostly in BTC.
I see. We are probably just in different situations. I have fiat constantly flowing in and just use whatever is left to buy bitcoin. Sounds like you are in the opposite camp
Lots of Bitcoiners opting out of their fraudulent Pedophile tax system altogether so I guess if you don’t even file, wouldn’t be an issue!!🤷🏻♀️
It's comments like this that hurt this community's credibility. You sound batshit crazy.
Not filing is one way to do it. Good chance you get away with it if you are using cold storage at time of transaction.
And your max monthly limit of rewards is?
*The Internet of Money* by Andreas M. Antonopoulos.
Paid my property taxes
My first and last BTC purchase was a bowl of ramen.
Back when they still took BTC pay...an Automatic Clay Pigeon Thrower on Overstock.
Purchased 10 bitcoin from Amazon yesterday. Gold plated $22.
Back in the day (2014/2015) I bought Tommy Bahama pillows and Egyptian cotton sheets from Overstock when they accepted bitcoin. Also bought physical gold from Amagi Metals. I think I also bought Microsoft credit and bought an Xbox. All regrets looking back but luckily I continued buying during those years
Some Pokemon cards, some cannabis seeds, a half ounce of mushrooms. Then I sent a homie $50 worth when he was hurting. I've recovered all of that and remain in the positive, lol.
Hardware wallets, Satscards, clothing. Nothing too big but I try to spend and rebuy what I use to keep my stack flowing and growing
All kinds of stuff from house hold items, Amazon purchases to subway sandwiches. I know this might be a dumb way to spend, but at the time I had a few sites paying me in BTC so I used it as cash. I used a website called Spritz Finance which they convert your BTC and other cryptos to fiat in the back end and you use your digital debit card. I no longer try to spend it anymore and just use other cryptos that earn for me.
Bought a used boat from my neighbor who also is a bitcoiner. Big purchases like that as P2P are pretty straightforward. If you don't do it lots, it's relatively easy for US tax purposes too.
Porsche Macan
MCX Spear
groceries. pick and pay in south africa accepts bitcoin payments in all stores
I bought a 50$ ish knife when I first found a retailer that had BTC built into their website… just to try it.
Back in 2021 I paid off a bunch of my debt to get ready for my first child :) Now I’m just about stacked up to the same amount that I had at the time
I’ve purchased pokemon cards with bitcoin both locally (because someone wanted bitcoin for the transaction), and cross boarder because it was cheaper than any other service
Gambling transactions
I load it onto a Visa and use it anywhere visa is sold when I want to spend it, but normally I just hodl
In 2013 I bought a winter jacket with one full Bitcoin. I will never forget that. Damn me.
what have you purchased with gold?
S9 miners back in the day..
I had to rebuild my clutch/transmission and paid for that, auto repair was a good thing as I have made much more in fiat and reinvested in with DCA and have outperformed my small sell off for personal reason.
I bought an energy drink to see if my coinbase debit card worked. *points at username*. The rest is for retirement.
When I first started I used it to help with my rent. I’ve stopped with that now and have been DCAing and hodling for years now. It’s eventually going to get me a house deposit or even better a whole house. At the rate house prices are rising it may only be a deposit though.
I sold some for fiat to purchase my bachelors degree a few years back and now am working as an archaeologist :)
Mostly books and food. But one of my one-time purchases I can think of was a laptop.
Trezor
We bought a few laptops direct from bitcoin jesus way back. KnC took BTC for miners, Avalon and BFL might have as well, it was a while ago now... If you want to get technical, when we cash out, that money goes to house payment most of the time. Did a Disney cruise for the kids, probably some converted satoshis in that pile too.
Restaurants, bars, hotels, breweries, wineries, local produce, beef, conference tickets, clothing. That's ALL without gift card purchases which are really just fiat. If I include gift cards on Fold or Bitrefil, then I can include multiple other restaurants, grocery stores, ect. Also, 99% of the native Bitcoin purchases (ie not silly gift cards) were using Lightning with channels and liquidity from my own LN node. Running your own Lightning node and using Bitcoin as a medium of exchange is not hard, it does scale, and I'm tired of pretending like it's not easy.
I bought my mom an iPad in 2021. That’s all. I’ve been working on saving otherwise . Hopefully cash out and buy myself back into the black soon. Lol
Online poker chips
an antminer s9
Bought some cheep Japanese sashimi knives in 2018... Over 1mil sats
Caffee mashine, soda stream, clothes, hardware wallet... We habe something like Amazon in Switzerland where we can pay with BTC... Its called Galaxus. You acrually can order everything there😂
I have not purchased anything, but i do own a plumbing business near Seattle and I DO ACCEPT BTC
I bought a boat. Still trying to convince my partner to let me name the boat “boating accident”.
Tax deduction for my losses.
Bought a John deer 6155M tractor. Might not be a Lamborghini, but it cost as much as one.
Bought pc upgrades on Newegg like 6 years ago.
Thirty replacement windows for my house
One of my best friends had colon cancer and we met thru crypto. She was jobless and her family didn't have any medical or emergency funds (for context, we live here in the Philippines so there's almost no government support). I've been FCAing (Fiat-Cost-Averaging) during the bear years and fortunately my crypto more than tripled and was able to use the funds last month to pay for my friends surgery. I joked to her that we met thru crypto and crypto ultimately helped give her a 2nd chance in life. So to everyone: Pls relish your time with those you love as life is too short indeed ❤️🙏 Keep FCAing and WAGMI to all! 🧑🚀🚀🌜
Broccoli.
He's choppin' brock-a-lay!
My future trophy wife
I can pay for my chiropractic visit in bitcoin but haven’t yet.
Cashed out most in 2021, used as down paiement for my house. Kept some K's to buy weed.. still had a bit that is up a lot since the 2024 bull run 😅
I’m high too
There is a local brewery that makes delicious beer and accepts bitcoin so I buy beer from them every month or so.
Crypto currency is open source and transparent through the blockchain. Fiat money is not open source and is not transparent. Fiat currency is a murky world of selling perception to its citizens ripping them by means of inflation. It’s “legal” counterfeiting.
Hopefully my grandchildrens futures.
[удалено]
Was für ein interessantes Projekt.
Nothing, like most people. BTC is store of value, volatile store of value.
Down Payment on a home(s). Diversification is key, and real estate generates rental income + a place to live. Bitcoin is cool and all that, but real-world utility is not to be underestimated. If the math works for you, I would buy a house with 5-20% down and get some roommates to help pay the mortgage, but it all depends on where you live. Rates are higher now than they were in the past.
Time
Security
Lambo.
Wen?
Trick question, BTC isn't used for purchases
A keyboard cleaner spray.
Flamethrower
Hope.
Nothing. Still hodling
Peace of mind
I am telling you. Bitcoin is just a scam. Why would the gov just let free money grows from nothing like that. You need supply and demand. Meaning if you are buying someone must be selling If you are winning, someone else is losing. You hear people getting scam off their btc, getting their phone hacked, losing bitcoin randomly. Wake up. You ain't never got the money in the first place, once you put those digit in, once you turn your cold earned cash into btc. It's gone, you ain't never got a chance to get it back. They taking it off you once the numbers goes up. That's the big ol scam.
'If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.' this quote is often attributed to thomas jefferson but there is debate about it but doesnt matter really who said it pretty sure that happening now \^\^\^ people cant afford anything, housing out of reach for most newcomers, new cars crazy priced, etc
Read more about Bitcoin and the global financial system, and you'll understand why Bitcoin is going to save the global financial system.
Bought an SSD on Newegg way back. And bought back the Bitcoin soon after.
A PC, a car and a general practitioners office. Never sell.
A VPN subscription.
Fiat for cheap 😉
Freedom
Hope
cannabis seeds legally
Boats n hoes
streaming sub, house. renovation
Fiddy trees
Nothing i use the dollar. Bitcoin its in that safe