roarkjanis on Nostr: I think my message might have been confusing with some of my examples. My base ...
I think my message might have been confusing with some of my examples.
My base currency in my personal financial management and business accounting software is Bitcoin denominated, not USD. The opposite of all other financial software that treat a Bitcoin as some kind of investment or asset like a stock and tracks its value in USD.
I immediately convert all fiat I receive to BTC and store it that way except if I get some fiat cash which I carry around in small amounts to help the needy I encounter.
Whenever I can, I pay bills or make purchases in BTC directly. If I have to use fiat to buy I use a credit card and pay it off in full each month by converting sufficient BTC to make the payment. So USD is only a payment rail I use for receiving or sending value I measure and account for in bitcoin.
For example, I recently took a cruise and covered expenses for my brothers in USD that we would split at the end. Each time I spent in USD I was mentally thinking of how much Bitcoin that was sometimes using the calculator if I couldn’t do the math in my head. At the end of the cruise, they paid me back in BTC that I had kept track of. When the credit card bill in USD is due later this month I will convert BTC to USD to pay it because I don’t have any cash balance in USD.
I follow this pattern as much as possible.
While prices are mostly not quoted in bitcoin, I mentally or manually convert the quoted price to bitcoin to determine relative to my bitcoin holding whether I’m comfortable making that purchase. When doing this over time every thing costs less in bitcoin to buy.
It isn’t a perfect system and most people cannot do it as it takes a lot of focused attention and change of mindset. But I’m motivated to force myself to do it and create the tools to make it easier so others can adopt them in an easier way and not have to do so many mental gymnastics.
My base currency in my personal financial management and business accounting software is Bitcoin denominated, not USD. The opposite of all other financial software that treat a Bitcoin as some kind of investment or asset like a stock and tracks its value in USD.
I immediately convert all fiat I receive to BTC and store it that way except if I get some fiat cash which I carry around in small amounts to help the needy I encounter.
Whenever I can, I pay bills or make purchases in BTC directly. If I have to use fiat to buy I use a credit card and pay it off in full each month by converting sufficient BTC to make the payment. So USD is only a payment rail I use for receiving or sending value I measure and account for in bitcoin.
For example, I recently took a cruise and covered expenses for my brothers in USD that we would split at the end. Each time I spent in USD I was mentally thinking of how much Bitcoin that was sometimes using the calculator if I couldn’t do the math in my head. At the end of the cruise, they paid me back in BTC that I had kept track of. When the credit card bill in USD is due later this month I will convert BTC to USD to pay it because I don’t have any cash balance in USD.
I follow this pattern as much as possible.
While prices are mostly not quoted in bitcoin, I mentally or manually convert the quoted price to bitcoin to determine relative to my bitcoin holding whether I’m comfortable making that purchase. When doing this over time every thing costs less in bitcoin to buy.
It isn’t a perfect system and most people cannot do it as it takes a lot of focused attention and change of mindset. But I’m motivated to force myself to do it and create the tools to make it easier so others can adopt them in an easier way and not have to do so many mental gymnastics.