K guys just watched a YouTube video And now I am more of an expert than I was 5 minutes ago.

As you may have seen my first btc retirement plan involves living off the interest.

This plan is 10x better by far. Didn’t even realize the magnitude of it.

Requirements: 2+ btc
5-10 years in the future.

When btc is at least 1 million you will take a loan to value loan of 50% which you’ll pull out 500k. Interest rates will be competitive so as low as a percent eventually.

What you do is take out 500k. If 5% loan thats 25k of interest. Well you use 475k for living costs. Because it’s a loan it’s tax free. Now when you’re almost out of money and have to pay loan off you use your other btc to pull another loan to pay it off and now you can keep repeating over and over and over. Unlimited money for ever especially as bitcoin appreciates faster than the interest. And eventually over 10m a coin.


Video for reference

https://m.youtube.com/watch?v=Uvgg3j_uiVw&t=1222s


Mind blown right now. Much better than interest. Plus if you have zero income no taxes for ever

tldr?

But I thought bitcoin was an alternate currency to the dollar? And yet you're basing the value of Bitcoin off the dollar. If bitcoin is worth 1 million, what is the actual value of the dollar at that point?

Do you bitcoiners ever think these things through or just think you're going to hold and buy more bitcoin and buy your own islands in 20 years.

It’s based on fiat because that is what the current system runs on.once the system goes to zero which it will you will never exchange it for fiat. Potentially stable coins or other assets. Well be see how it goes but this plan is solid as chit.

Bump

Is the interest calculated based on the initial BTC price when you took the loan or does it go up with the price of BTC going up?

When you first took it. Watch the video. Explains it 10x better than I did