I know bitcoiners, myself included, who are in a position and reached an age where we would like to live off of our #bitcoin and we are now asking:

How do we do that, what are our options?
In my mind there are only three options we could choose from to cover our modest living expenses:

1. Drawdown a percentage of the stack.

2. Borrow against the stack as proposed by @michaelsaylor

3. Lend against the stack. to earn interest

Option 1 sees the stack deplete which I assume would be horrifying to most of us.

Option 2 incurs risk and taxation. And the thought of taxation I would assume totally eliminates this option. Tax theft is one of the driving forces that motivated us to become bitcoiners.
So we are left with option 3, borrow against the stack to cover our modest living expenses.

Because many of us live outside the U.S. our only option appears to be @BlockFi because @Unchained only allows companies, not individuals, to borrow.
Having hodled believing "not your keys not your bitcoin," we would need to change our thinking on key management and risk to use @blockfi.
I'm sure my cohort would appreciate hearing thoughts on this issue from anyone, who has no conflicting interests, particularly those who have gained recognition as thought leaders.

Just to reiterate the position:
People like me, in our 70's who've hodled for years are past wanting to or are incapable of working, all in #bitcoin and have reached the stage where we want to live "modestly and peacefully" off our #bitcoin.

How do we do it?

Your thoughts would be most appreciated.

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More from @hodloncomrades

19 May 19
1/ What Bitcoin Did and why not.
I bought my first Bitcoin 2 years ago, I was a complete nooby but luckily I managed to dodge the altcoins and the bcash fork. My memory isn't 100% reliable but I think reading The Bitcoin Standard @saifedean and The Bullish Case for Bitcoin
2/ @real_vijay played a big part in convincing me to hodl and maintain it, then with further research my hodl became stronger than ever.

On reflection, if my first introduction had been via BCash or some other alt, I doubt if I would be in the fortunate position I am today.
3/ (but I'll never know)

Over the 2 years, I have personally introduced some 32 individuals to Bitcoin and all but 4 are still hodling.
Read 9 tweets

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