You’re right. You can lose time and value in the short term.
I’ve lived on a Bitcoin standard since late August. Here are some tips and tricks that I’ve learned in the past 90 days:
1. Put your entirely monthly spend on credit cards - In my opinion, this is the only way that the live on Bitcoin standard works. Use credit cards with generous cash back or travel miles benefits. This can help eat or offset any small dips in price for the month when you pay your credit card bill.
2. Do not pay the minimum only - Pay off your credit cards in full every month. I made the mistake of maxing my cards over the past few months trying to acquire as much bitcoin as possible in preparation for the 150k-200k price everyone was anticipating. Instead, bitcoin dropped into the 80s and I’ve had to sell at a loss.
3. It helps to have Bitcoin in reserve - I stacked for years before considering doing this. This can help make you whole if you’re negative. Unfortunately, you have to sell the sats to do so.
4. Live within your means - Don’t overspend on credit. Spend less than you earn and living on a Bitcoin standard is possible.
5. DCA - You should be DCAing daily or hourly in addition to the weekly or biweekly smash buys your paychecks purchase for you. DCAing gives you exposure to all the variations of Bitcoin’s price that way large portions of your wealth are not locked in at a fixed price point.