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How I Intend to Live Off Bitcoin Cash in 2020

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Avatar for pokkst
Written by   107
1 year ago

Earlier this week I wanted/needed to buy some new Apple products. The total cost of the purchase was around $5,000 I believe.

So, having enough in my bank account to pay up-front I decided to pay using my debit card since Apple does not accept Bitcoin. This proved to be much more of a problem than I originally thought. At first I assumed my payment on was being declined because of a minor address discrepancy. I texted my bank and asked them what's happening and they said it's due to the address issue. I fixed the addresses up and attempted to pay again. This didn't work.

Next, I tried to route around Apple's "security measures" and pay via PayPal using my debit card. Paying via PayPal kind of worked. Each item was its own individual charge, and yet one of them wasn't going through. So I canceled the order but the charges on my debit card remained in my bank account as pending for a few days afterward.

Then I attempted to pay using my Apple Card. The credit limit is well above the total cost of all the items, so I figured this wouldn't be an issue. It also wouldn't go through.

After texting Apple, I found out that because my Apple Card is still so new, I can't actually use it to its full extent for "security purposes".

After that, I messaged my bank account and they finally told me there's a $5,000 daily limit on my debit card.

Fed up with these restrictions on money, I immediately sent 60% of my bank account to an exchange to purchase Bitcoin. There is, of course, more "security measures" here so that cash is in a holding period on the exchange for 14 days.

Once that clears, I intend to purchase the coins, send them to my personal wallet, and run them through CashShuffle and CashFusion.

Here's where things get fun.

My current salary is in Bitcoin Cash, so I never have to directly touch USD again. Only for a few things using certain means using a BitPay debit card that I refill using Bitcoin Cash. The downside is that it kinda reverts back to using the legacy financial system, but it's the best choice I have when BCH/BTC isn't accepted directly. The positive side of this is that the daily limit for the BitPay card is $10,000.

For rent, I pay my roommates using Venmo. I can attach my BitPay debit card to this and use it there. So I send ___ BCH to BitPay to fill up the card then use the card to pay my roommates on Venmo.

For music, I use Spotify, so I can use the BitPay card there too.

I don't spend much to begin with, so all I really need is money for food, phone plan, video games, and my servers.

My servers I already pay using BCH and BTC directly via Wishosting and For video games I use Kinguin to pay using BCH directly. Although my phone plan is Google Fi, I can probably use the BitPay card there too, but I could also switch to AT&T since they accept Bitcoin Cash. For food I can just use the BitPay card.

I do like to gamble a bit on SatoshiDICE. Seeing as it's Bitcoin Cash only, this will be no problem for me. :P

I intend to travel to visit family and friends, and also attend the Bitcoin Cash City conference in August, so for that I can use services that accept Bitcoin Cash directly. :)

The remaining 40% of my bank account is probably about to be lost due to taxes, but whatever is left will just sit there.

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Avatar for pokkst
Written by   107
1 year ago
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I have been working on getting my favorite small stores/resturants to start accepting BCH, so I can start to do the same as you

$ 0.10
1 year ago

That's incredible. Thanks for sharing your story and inspiring people like me to do something like that as well!

$ 0.00
1 year ago

Some good ideas here. You should also check out if you haven't already. I nice way to shop at a discount (often with prime shipping) using bitcoin cash

$ 0.00
1 year ago