Hi everyone,
I want to start by saying that I am very excited to have started this journey and am optimistic of a future with Bitcoin in it.
My question is, How do we move our traditional finances entirely into BTC? I know we cannot yet get paid directly into BTC so there will at least that initial manual deposit of Fiat (AUD) into BTC each payday but from that, how do we utilise layer 2 to pay bills, expenses, etc?
I want to avoid rehypothecation and support the BTC community while removing liquidity for TradFi. I hope my understanding is correct and this makes sense.
Thanks,
Posted by moodz321123
2 Comments
Basically, if you open a small beer bar and only accept Bitcoin as payment, and then use the Bitcoin you earn to buy food, clothes, fuel, etc., that’s perfectly fine. But you still have to pay taxes on your business income and VAT on your purchases, so in order for you to do that, your government has to decide to accept Bitcoin as a form of payment too.
Can use Bitrefill to pay bills. I pay for my phone service with it.