jack mallers on nostr

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@jack mallers 1754434233

I have a negative fiat net worth, get paid in bitcoin, save in bitcoin, pay bills, and never have to sell bitcoin or incur a taxable event with my bitcoin-backed loans.

I live my life on bitcoin and my life gets half off every 1-2 years on average (1.44 years with 50% BTC CAGR to be exact).

Might need to make a video tutorial on this if people don't get it. It is magical.

7921❤️95🤙20❤️2🔥2👍1💜1

don't you have monthly payments to pay back your loans? where does that fiat come from?

Achilles · 52w

Yes sir a tutorial would help spread the message 🫡🧡

The Stacker Monster · 52w

that CAGR looks to be dropping off a cliff quickly

VampireMJ · 52w

With a loan, the taxable event is postponed, not avoided.

cheesypleb · 52w

How do you avoid the annually refinanced loan compounding by 10% (or whatever the rate is) each year). Eventually you pr your estate will have to pay off an enormous loan. This is only really possible or sensible if you have a very large stack of bitcoin.

Jdwagner17 · 52w

I’ve been working on getting a STRIKE business account. How many rounds of questioning should I expect before they allow me to do so? It’s for a new business, a start up, self funded. It’s taking longer than expected and I don’t know why they wouldn’t ask me all the questions they have all...

apollosnake69 · 52w

Strike is needed in Canada

SwapMarket · 52w

Taking a loan backed by bitcoin may backfire in some countries with wealth tax and obligation to report crypto assets.

FreebornFarm · 52w

Jack, does strike have a way to deposit physical checks with a phone like banks do? As farmers we get a lot of checks written for our products. If strike was able to deposit these into an account I would ditch the bank completely! Thanks

The Ben Gunn · 52w

strike works best the more senior you are then. Every session feels like an audit. Would I fk rely on it doing its job as a daily driver. Total capitulation to the regulator.

Someone knows if a similar model with bitcoin backed loans is possible in Europe?

Until we can pay on lightning or ecash everywhere, you should consider carrying some amount of physical cash. Privacy is important. If we don’t continue to use cash we may lose the option more and more. You could have less than 0.1% of your savings in physical cash, lose a small amount to debase...

Bitcoin Nora · 51w

>Fiction · 51w

Yes please make the video tutorial. Doesn't the loan compound forever? What if loan gets enormous and has to he paid off, that would result in a taxable event? (Sell BTC, pay loan). Thank you

Pablo Luengas · 51w

That’d be great—just make sure to include how to navigate a bear market too. I think if someone can make it through a bear market living on Bitcoin, it really boosts their confidence to stay off fiat.

Austrian Nick · 51w

Thanks to you I have joined the negative fiat club!

Unreal Jack mate. Definitely pathing the path I have been listening and watched those earlier videos. I know you said debit/credit cards are not a priority and the process of saving in bitcoin borrowing in dollars but… the Strike marketing and ease of use I think maybe a missed opportunity. Even a...

That’s cool as fuck, I want to do something similar

LondonThorsson · 51w

Can you walk me through the mechanics of this? Or direct me to where you’ve already done so. My life costs about $80k per year. So assuming I am conservative, only utilizing 25% LTV, I’m assuming I would need approximately $325k worth of BTC. However, assuming I roll these loans, what percenta...

nostr:nprofile1qqsvf646uxlreajhhsv9tms9u6w7nuzeedaqty38z69cpwyhv89ufcqpzpmhxue69uhkummnw3ezuamfdejsz9mhwden5te0wfjkccte9e3h2unjv4h8gtnx095sey2wlc is there a way to do it with debit cards ? I don’t like credit cards .