Only Crypto In The Wallet: How We Managed To Live Years On The Blockchain
The Ongoing Journey to Live Bank Free
I want to first thank all my followers for sticking around here on Steemit. I know I haven't been posting a lot the last year, due to my work in numerous crypto projects I have found time to slim down a lot around me to sit in front of the pc and blog. I still love Steemit and this community, learned a lot over there years through many of you and I can't thank you enough for that support.
Today I begun to notice that the Crypto community is beginning to grow again, not unlike how it was starting to grow in 2016 when I first held Bitcoin in my wallet. This is an amazing time and I firmly believe a moment that can once again change the lives of many people out there if they utilize all that cryptocurrency has to offer.
Many times over the years, I happen to have the same conversation now and then about the fact me and my fiance @cryptofrygirl have completely ditched our day jobs and journeyed into a long term experiment to solely live on crypto holdings. Many probably can't grasp that when we say we are FIAT FREE, that we actually mean a complete lack of fiat in our daily lives. Sadly the ways of the machine we do have to convert to FIAT for bills but we don't work for cash, nor do we hold any bank accounts. We truly live 100% off crypto earnings and its been about 3 years to the day since I have had a single dollar in my wallet.
So the usual question I get, how are you doing this for so long, and what are the pitfalls for doing so?
Well, I can tell you its not a complete easy ride. Where most with day jobs can utilize fiat to pour into crypto holdings, we had to find our own niche to do marketing in crypto and accept payments in coins we work for. Sometimes that has worked in our favor, other times we hold long term bags. Its a tricky area but one I think eventually will get smoother if we just keep at it.
Is This Lifestyle For Everyone?
The real question is usually not asked when these conversations come up. The questions to ask are: Can everyone live this way on crypto, and is going to work for society as a whole?
Honestly my opinion with the state of crypto right now, I think its worth exploring a fiat free life but I would say because it can have its down times like we dealt with from 2018 till recently, everyone should have back up plans to adjust for those moments. Me and my fiance had it really rough through this bear market, we had a blast in 2017 but when the bears come to play it truly becomes a wait and see financial moment for those completely living this sort of lifestyle. Its not for everyone in that area.
I do believe that with our belief system and our desire for a better world that the down moments is well worth the sacrifice. You have to live it to believe in something is how I feel. In our own way I feel proud that we maybe helping the cryptocurrency movement in a small way by being one of many that can show this is working for day to day usages.
My advice to anyone new or even those that have been around crypto a while and has a desire to leap in fully. You need to really evaluate your goals and make a serious effort to have some structure to deal with moments when the income might not be there sometimes. What I worry mostly for anyone choosing a crypto full lifestyle, is for families to convert with no plans when the markets are bearish, its tough and can shake you up if you don't have back up plans for those moments.
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So How Does One Survive On Crypto?
First thing you have to remember, this is in many aspects is still a monetary system. Crypto is a better money in my opinion but its utilities and usage are still traditional in many ways. You have to remember, you need to have a way to earn, you need to understand the system completely in usage and laws, and most of all no matter how against the fiat system you may be...there is a necessary evil to use it on your exits to pay bills. Lets face it, Crypto is not fully adopted just yet, getting there but you will have to hand over cash usually to the non adopters to feed your family plus pay the rent.
I found using Bitpay or Coinbase my easiest exits for those fiat needed moments. You have to weigh the when hold them and fold them moments but eventually it becomes a very natural move to the card and pay the bill flow that you tend to forget about the conversation as a hassle most of the time.
Another thing, know your talents. I can not stress this enough. If you want to earn and live on crypto your gonna have to be crafty and take whatever natural talents you have and put them to use in this space to earn. For us we were lucky, we have sales and marketing in both our backgrounds, and along the way we had developed ourselves with the help of many great projects who gave us opportunities. That is a must in this space, you have to work with others and do the best you can to give your talents in a way to put positives in this community.
Traps are Everywhere to Slip You Up
Do not think having a big wallet full of crypto is gonna be the key to changing your life. Just like anything its gonna take your will power and forward thinking to make the best out of every move you make in this space. For a casual user that doesn't live solely on cryptocurrency, some mistakes are easily recoverable. For someone that lives completely on this, some mistakes can become a major life issue and disheartening moment to recover from.
Another thing in this space but its everywhere is to be very security minded with your holdings. You need to police your finances like a hawk and do your diligence to avoid every con and scam that pops up. This industry is wild still to this day, and many bad actors will try hard to find the weak to vulture off of.
It Can Be Done
While I have highlighted some of the ups and downs choosing a full crypto lifestyle for myself, I firmly still believe this is the most freeing option we have when it comes to owning your wealth in this world. The security of knowing I fully control my finances and that no human mistakes being made by bankers or third parties can come into play does make for well rested nights.
One thing I will never promote about this kind of lifestyle is that it will make one instant rich. It takes volume and bringing in volume from the start to get that kind of break in most cases. I more or less promote that when its good and your completely involved in this community that it will definitely help you live more comfortable, less stressful and if you play your cards right it can open doors to potential opportunity that you can do anything with. It just takes your own passion and skills to get there, that seems to be overlooked. Nothing is handed to you in crypto like anything in life but it does give many of us disheartened with the current financial system a new option to utilize.
I leave you with this, if you are new and need help to understand this amazing advancement in financial technology, I am with an open door on my Twitter to talk shop any day. I love meeting new people coming into our community but remember I don't have all the answers and always adapting and learning along the way.
I truly hope you can also one day say you have survived and thrived in crypto like we have. Its tough some days but I feel its definitely worth attempting for those with the conviction to make something of themselves in this community.
~sflaherty
Follow me here on Steemit @sflaherty
Join me on Twitter @ https://twitter.com/sflahertycrypto
Amazing to read this and to meet you on here!
What an epic approach to trying something out, and really hats off to you for living this no fiat way. Its really interesting for me to read about it, much more than it is for others. I am still wondering what to reply because I'm imagining it but I would love to also know what your living style is, and by this I mean are you living in a street with houses, or on a farm or how?
Im well curious, because for me Im bank free, but I live differently to most people. Obviously all situations are different but like yourself, (Im guessing) that the cash you get, gets turned into crypto instead of using the bank?
Really cool to bump into you! Best things about a dead steemit, is that the active people on here are true anarchists and freethinkers the ones who didnt leave :)
I wonder if I am the only one on steemit that wanted to powerdown and cash out, but had nowwhere to cash out too hahahahah
I probably should have put in there the living situation lol. But we aren't home owners here, just renters. Goal for the long run is to continue our work in Crypto and hopefully by saving we can get to a place to own a home. We live really simple and that probably helps the situation as well to survive and save.
We also had a side dream to eventually get an RV or something to travel off crypto, came close a few times to pushing towards that direction but as you know the markets can make saving take longer.
When I say we are cashless, I mean in way of we always been receiving our earnings in Cryptos since 2016. We been doing marketing for projects in the space so the norm been to usually get paid in their cryptocurrency. The necessary evil of things though is that we have to usually load up a debit card off that, so we mainly use Bitpay for that conversion after sometimes moving things around with exchanges and so on.
Far as the powerdown goes, don't feel bad about thinking of doing so, remember the wallet on here is yours and you have free reign to utilize that anytime you wish as a side income. I actually held a nice chunk on here myself in 2017 but powered down because I was just not getting any activity and bots started running crazy back then. Took a breather from Steemit during that time to focus on work with marketing so I cleaned out my wallet. Have some regrets but I come to the conclusion you can always reup your holdings. Actually I am thinking of returning here a little more often, kind of miss just blogging for the heck of it.
So I guess in ways living like this is gonna be different for everyone. Some people travel and live on crypto, others try to push for long term goals and buy homes. Its about using it on a daily basis in a way that suits yourself and your family I believe.
In my eyes of the world renting is actually the better way, but only because I do strongly believe that in the fututre the governments will claim back all the land for themselves, and that contracts on paper will be void.
Im lucky not to have even paid rent the last decade, and practice alot of freganism, recycling and dumpsterdiving so life cost for me is very very very minumum, and consists of just things like tobacco fresh milk and eggs hahahahha. I definatly suggest the RV thing! Rent free, thats a lot of crypto everyday!!!!!!
I get paid well in a commision based job when I work when I want to and also ts tax free, its like the egg from the golden goose hahahahha! Only shit thing is though that when its raining like now, I cant be bothered to go to work hahah.
The last 2 years im spending all on crypto, and admit that I wish I was a btc maximalist from the start because I spent soooooo much cash on crypo and have not much in regards to what I spent. But anyway, before there is no more cash to earn to buy crypto with (I use local bitcoins and meet a seller in person to buy with cash) then I will just keep on as I am I guess. Got absoulutely no desire to pay anyone to live, rent/clothes or food and I'm not big on consume much since travelling.
Do you also collect silver or gold?
I actually at one time was big on saving in Gold and Silver. Not so much now a days but mainly because I been all up in crypto's business the last couple years. I should hold back some actually, good real world buffer to have in place.
Me and my girl, we both are in our 40's here, kids are all about grown up soon and we kind of are free spirited and thought maybe the RV life is for us one day. Travel, meet people, see the world and with our work we can literally do that on the road. So that might be on the horizon if we save up and crypto fires back off lol.
I do lately have to figure side gigs out, been a little tight because our recent work put me into a potion of being a partner to the project BLOCKCARDS. Thats a new project BTCKYLE is doing. So till its live its not a profit maker but definitely sticking with it because I feel its a project worth the work till its done. Figure maybe we will take on smaller projects in crypto till that is out there. Thats the trick working like this, your kind of freelance so small short term gigs tend to pay in the moment and the good ones that you get more involved in give you the rewards when things are moving and public.
Me, I tell you this. I came into crypto with only $20 left to my name. Had a crap job working in construction with a boss I couldn't stand. Ended up quitting and between jobs I found this. Really amazed I went from that to finding my calling in Crypto. That to me is the best part, makes up for the moments that finances maybe causing ramen noodle nights. I think sometimes wealth is more just being able to control your own destiny and doing what you love for a living. But eventually I hope money comes more into play too lol. Can't hurt right? lol
I will also start buying silver again, and actually maybe instead this time buy gold instead just for storage size to be easy to hide, and loose? hahaha
Really cool to follow you on here, I am not online 24 7 but I'm all in on crypto! I hope you suddenly get offered an RV from nowhere hahaha that would be so dam funny!!
lol. I tell you, with the way the world is, having a little Silver and Gold is not a bad idea. Plus, hey...its to me a real world investment, something always tangible.
Really good to meet you as well @movingman ....I tend to be off and on here and there too lol. Sorry it took 3 days to get back to you, we had a bunch of kids at the house all weekend so I was not finding a moment at all to get online.
Hey if I find a RV just parked at the house one day out of nowhere, I am not gonna be unhappy about lol....be going for a long ride!!
Inspiring stuff! It's good to hear about alternatives!
What's yr living situation - my mortgage ties me to fiat live til that's paid off.
Do you own outright? If you don't mind telling of course.
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Hey sorry for the late response, had to let my power rise to comment lol. I shouldn't have powered down in 2017, probably time for me to reup my wallet here lol.
Actually we don't own, rent but the long term goal has been to save up and get towards ownership eventually. We live really simple in way of, we get what we want but try to reinvest in our work with marketing for crypto projects. So right now we been in overdrive with a work work work and save save save mentality for the future.
I know some people that pay a mortgage and live this way but its tough on them, usually they have to have side gigs to even things out and limit the risks of the household.
Thats why I kind of put in there that crypto didn't make us rich or anything. Comfortable because we been around long enough to form a decent rep to keep having jobs come at us but there is moments its pretty dry when the markets are low. Seems crypto projects like to save a buck on marketing always first so it gets tough for us during that moment. But over all, I think we survive because we keep saving for later, helps buffer the down times a lot.
@sflaherty I want to delegate you some SP just so you can post because of the new rc thingy! Plus also im wanting to try out @SBI and will try it out now with your name in the memo. I have been meaning to try this out for some time, and so now is always the time :)
I really appreciate the delegation of SP @movingman ...just seen this. I plan to reup soon, just got some holdings waiting on the markets which looks like is getting better today again.
It's an inspiring tale for sure!
I guess you have to think long term buffers for crypto.
Here's hoping things will pick up soon.
I still think this POW concept is one of the best uses of blockchain (for all its flaws) rather than trading.
50 SP is enough for most people to be able to interact freely... and steem is pretty cheap ATM IMO!
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Yea I gotta grab up some SP soon, I actually started mining DGB and converting that to DOGE to shoot over to BLOCKCARDS for SP, rest of my holdings are kind of locked up due to the markets, just waiting it out lol.
I am a fan of POW and mining actually, thats how I started before I got into marketing.
Glad to see you are still chugging along man!
Hey old friend, how has it been? Yea I am still with it in crypto, I just been so slammed the last year working with BTCKYLE that its been hard to find a moment to write like i used to on here. Its going great though, me and the fiance are still doing the marketing stuff. Don't know how I survived this bear market but we made it to the other side. Hope all is well your way, gonna try to post more often between things when I find time
How does one deal with taxes? Is there a tool for tracking the value of crypto when you earn it and spend it? Or do you simply treat it like money in the bank? I’m curious what the mechanics of accounting are.
In fiat, the accounting assumption is that a dollar is a dollar all day every day. When we pay bills with crypto, it’s going to be a different amount depending on the market. That’s what makes me nervous.
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I won't lie to you, taxes are really hell with this. Best way until they get this more organized is to either really track every move you make in Crypto and pray you got it right or get a CPA involved. So far I been good every year with the tax man but i am always worried every time before they approve what I send that something was missed. We need real reform in this area for us here in the USA definitely.
Good thing with me is I use Coinbase and Bitpay which has easy access to crypto to fiat conversion tracking. I try hard to mainly stick with Bittrex as well for that reason when it comes to exchanges but sometimes you gotta move around, just make sure you keep good records when you expand to other exchanges.
All in all, can be done but it gets tricky with taxes, this I should have included on the write up but thank you for asking in case someone else is wondering as well.
Crypto is a better money in my opinion as well
Yea, in my opinion, why did we ever create paper money in the first place? lol. Really appreciate the read and Twitter retweet @nathanmars ....I hope this message you can live on this and survive gets out there, can be done with some mindful tactics
Exactly. I guess we can ask same thing like why did we created post office in the first place when we invented email
Let’s look forward
Wow... I admire your bravery, thanks for showing to us that it can be done.
Really Arnel, I am just glad I am still in here doing this. I really believe in this space and being full time I get to stick with it and really watch it evolve. I think its gonna end up a wise choice for us one day, has its moments but I think its gonna pay off. I thank you for your kind words. I always say if you want to take a leap of faith, sometimes you just have to jump at it
With negative interest rate coming down the pike, the incentive to park one's saving in a bank is literally vanished.
I agree. For me, I had no major issues with banks but I have had a few dirty ones bounce things that didn't require any bouncing. That woke me up in my early years that maybe this system is not about protecting customers as I was raised to believe. I just got tired of the rat race in fiat myself and as soon as I found Crypto in 2016...it was a big ah ha moment for me to use this completely. I think we will find more of us like that as time progresses and that could change a lot if everyone adopts it in that way. I really appreciate you taking the time to read this @meyrep ...hopefully this encourages a few that it can be done to use crypto with our lives on a more daily basis
Thank you! Informative and encouraging ...
Anytime, I really hope it helps others to realize that this can be used in a more daily life way. Not gonna lie, some days its tough but in the end its no different using Crypto vs the old fiat ways. Its just about figuring a personal extent to how far one wants to use this in their life.
I really appreciate the read on this, one thing I can leave everyone, its 3 years later and I haven't starved lol. So I think we proved its very possible