How A Frozen Bank Account Inspired Bitcoin Advocates To Try Life By Bitcoin Standards.
As Bitcoin BTC ($16,833), acceptance of continues to sow seeds around the world, with more and more people choosing to accept the original cryptocurrency as payment for goods and services. For individuals, this means accepting her BTC as salary.
A Florida-based bitcoin advocate named SVN (not his real name) had received all of his salaries in BTC for the past year. Cointelegraph reached out to SVN, who works in the animation industry, to understand why he did so and whether there are tangible benefits to acquiring the world’s most popular cryptocurrency.
SVN explained that when the bank froze one of his accounts, he “turned to Bitcoin as a solution to sustaining my livelihood while the issue was resolved.” did.
Banks either have the power to charge customers at will or must comply with government orders, such as the truck driver protests in Canada where government orders prevented protesters from crowdfunding. Bitcoin, on the other hand, works 2/7, with no intermediaries.
For SVN, however, he also wanted to explore whether it was possible to make a living with Bitcoin and cryptocurrencies and draw his own conclusions about their potential as the best currency. Will Bitcoin really be the future of money? I had to see for myself and come to my own conclusions.” In
Plus, he “busted the bubble of stigma and mystery surrounding this whole new economy and asked what things were and what wasn’t.” We wanted to provide a small perspective of.” Essentially, by managing their income in Bitcoin instead of fiat income (government-issued money), SVN has fallen further down the Bitcoin rabbit hole.
He documented the experience in his Twitter thread, in which he concluded: “Life with Bitcoin is simple, yet rewarding”, said tax returns are now required. Additionally, Bitcoin’s volatility has made the experiment more interesting. Fiat currency prices have fallen by more than 70% in the last year. So his bitcoin savings are growing with every paycheck.
SVN also began writing a newsletter documenting his experience. For example, using Bitcoin as the primary means of payment allowed SVN to see first-hand how Bitcoin is used in everyday transactions. He hopes other people considering opting out of fiat currency and accepting bitcoin can learn from his experience.
When asked whether to accept cryptocurrencies other than Bitcoin, SVN replied that his decision was based on security and sovereignty concerns. The cryptocurrency you choose should be robust, resistant to manipulation or change, and have a known active founder and an active CEO or pressure point. Ultimately, SVN met these criteria and offered simplicity, so we stayed with Bitcoin. Besides
SVN, there is a growing list of celebrities who receive their salary or part of their salary in Bitcoin, including the Belgian Member of Parliament and his NFL star player.
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