I Switched Everything to Bitcoin. What Happened Next May Not Surprise You | Hacker News Reader

I Switched Everything to Bitcoin. What Happened Next May Not Surprise You

code.likeagirl.io

17 pointsCodeLikeAGirl15 comments

This person is just crazy. The whole point of a "currency" is to use it for a consistent trade of goods. Sure, you may say the US dollar or the Euro is not "consistent". But those change over a timespan of years. $100 today is $100 tomorrow. Yes, the dollar may go up 0.01% one day, and there is inflation which may be up to 3% per year. Bitcoin has no such sonsistency now, and may never have it. 0.01% a day? 3% a year? Ha! I have seen the value of bitcoin jump +/- 300% in ONE DAY.

It's just not rational to think you could live a "normal" life when ALL of your finances are jumping around in the extremes that bitcoin experiences.

Rent, real estate, taxes, and bills seem like the main things this route doesn't have a good answer for yet (there are some sorta kinda solutions, but they still don't have a lot of buy-in, i.e. you can buy houses with bitcoin but only a handful of properties scattered across the world, not pretty much whatever you'd like to buy in your target neighborhood).

But I think it'll get there. And once it does, you'll probably see a lot more people giving up fiat for good, much like cord cutters for television. We're still probably 5-10 years away from that reality, though, at least.

I honestly don't understand people who defy convention merely for the "feeling of superiority". This seems like a person who is exposing themselves to a high level of risk just to feel superior to their peers by adhering to a trend.

How do you pay for food and housing? Honest question.

The author gives very, very few specifics about how they actually lived. The way they write makes me think they switched all of their investment money into bitcoin rather than the literal reading.

Thats very brave. I too want to get into bitcoin but found the price to be the limiting factor. I cant even afford 1 btc!

On another note, what resources did you make use of to get yourself familiar with the ins and outs of bitcoin?

I don't really understand why the unit conversion rate matters; presumably you can afford the smallest available quantity?

1 satoshi appears to be less than a tenth of a Euro-cent.

>presumably you can afford the smallest available quantity?

I guess I just always assumed it would be 1 btc. Seems a bit silly now really.

i recommend not putting more money into it than you can afford to lose.

I'd highly suggest doing some serious research into wherever you're putting you money. Don't go throwing it around at trends if you don't have, at minimal, a fundamental understanding of how they work.

Get over where the decimal point is. The objective is to hold wealth in places that grow as fast as possible or at the very least, don't go backwards.

This smells a bit "pump & dump"-ish to me.

Lots of negativity here - I got so fed up with my local bank's policies and requirements that I added Bitcoin as a payment method to my company's website. I can buy my shed materials with Bitcoin, and now I accept payment in Bitcoin.

In the 'may not surprise you' part I expected to see that she was hacked and all currency wallets emptied.

I was expecting something negative too but that just shows how negative people's assumptions/biases are regarding these things.

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