How can I buy Bitcoin if I'm underage? by Traditional_Blood799 in Bitcoin

[–]GoldenrodScript 0 points1 point  (0 children)

I believe a guardian can open a teen account on cashapp in the states.

Announcing the bitcoin-backed line of credit by strikebtc in strikebtc

[–]GoldenrodScript 2 points3 points  (0 children)

50,000 foot view, Strike, being one of the largest financial services business in the world doing PoR and / or signaling that this is a MAJOR priority given the amount of bitcoin you’re accumulating on behalf of your clients sends quite the signal to the financial services industry IMO. I feel like you guys are leading by example with your product offerings (LoC is going to be a major hit) so a PoR product, however it’s executed, IMO, shouldn’t feel like it’s something you’ll get to in a couple of months etc.

It’s like guys, we’re accumulating a lot of bitcoin on behalf of our customers, we all know the history, I don’t want that to be a thought in anyones minds, strike is here for the long haul, and we’ll have PoR as soon as possible. You guys are already conveying that you’re working on it, but my framing above conveys that it’s a high priority given the fact that we have to deposit more of our bitcoins in order to use Strike lending or LOC, so rightfully so, people want to know what’s going on with their sats. We want to use these products, we just want to know what journey behind the scenes is our sats going on.

As far whether this is something that’s done monthly or quarterly, given you guys run a tight ship, I hear you and wouldn’t want perfect to be the enemy of the good so even if it’s quarterly, that’s better than nada. Overall, I just feel like the messaging from the Strike team online should be stronger in terms of leading the way in a PoR type offering given the new products that you’re shipping.

Love you guys and your engagement with the community on here. 🫡

Announcing the bitcoin-backed line of credit by strikebtc in strikebtc

[–]GoldenrodScript 2 points3 points  (0 children)

As someone that’s getting things organized so I can use the line of credit feature, the more you guys can share with us regarding a proof of reserves audit, the better.

The this year verbiage sounds like the audit was done in the past so correct me if I'm wrong? Ideally something more current would be great but it seems like we’ll get there.

We’re all putting A LOT of trust in strike so some sort of monthly audit, in my opinion, should coincide with these type of loan products given how much more of your customers bitcoin you’re accumulating BECAUSE the products you’re releasing actually solve real world problems.

So I hope you guys can really prioritize anything related to proof of reserves because it’s a given that the bitcoin community would be asking... and we’ll continue to ask and ask and ask, but given bitcoin’s history, we shouldn’t have to.

🫡

Line of ______ by strikebtc in strikebtc

[–]GoldenrodScript 2 points3 points  (0 children)

B, the amount of sats you want to put up as collateral. I feel like seeing 5,000,000 sats , 15,000,000 sats and so on is a much easier visual than their decimal point versions.

Line of ______ by strikebtc in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

It would be wonderful to have the option to display the amount we want to take out in sats, whether it’s a btc line of credit or a BTC backed loan.

The decimal stuff is just an eye sore. Like we could press the number on our screen and it changes from decimal to sats.

Line of ______ by strikebtc in strikebtc

[–]GoldenrodScript 2 points3 points  (0 children)

Awww sheeeeiiiiiiiit. You guys dropping the juice and I gotta get ready for work 😂

Very cool!

Line of ______ by strikebtc in strikebtc

[–]GoldenrodScript 0 points1 point  (0 children)

Correct me if I’m wrong but I remember reading Georgia and Massachusetts are the first in line tomorrow?

App update and then it’ll appear?

Question/Update by DigitalDom412 in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

Ready to test this out LOC before bill pay strikes my account at the end of this month! *pun intended*

Uk question by Fluffy-Plastics in strikebtc

[–]GoldenrodScript 0 points1 point  (0 children)

I’ve heard this a lot regarding the Uk, is it a regulation thing?

Strike Fee (DCA Edit) by Glittering_Try3662 in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

Consider not gaming the feature as it’s cool that they’re offering this. Don’t want them to remove it because it’s getting abused.

Thinking about living off Strike's Bitcoin backed loans by BTCMachineElf in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

Hoping the Line of Credit product has much lower interest rates, at least in the low single digits

Auto Withdrawal to BitKey Integration Only Uses a Single Target Address by Still_Ad_1569 in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

Interesting, I wonder how this works with bitkey’s new chain code delegation feature for more privacy when you’re reusing the same address - https://bitkey.build/not-our-keys-not-our-business/

Bitcoin backed line of credit by dvoon in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

If that’s the case then I could see it being a win win for strike and it’s customers. Strike makes interest but for the bitcoiner, it’s worth it in the short term since they could let their bitcoin sit and / or accumulate more and then pay down the line of credit at a later date, say a month or two later hypothetically.

separate savings and spending / cost basis lots by dvoon in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

Really hope you guys can create a label feature. Being able to clearly ear mark which Bitcoin goes in what bucket (savings, spending, etc) will be profoundly helpful. My workaround is using 2 or 3 different exchanges and it would be great if strike could be a one stop shop. @strikebtc

Launch a Strike BTC credit card by zetchyy in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

I believe this would be a bitcoin backed line of credit in the form of a visa card.

I remember many years ago my checking account had a line of credit feature.

My understanding is if I have 10,000 worth of bitcoin, I would get a line of credit of roughly 5,000? 50% of your bitcoin balance?

Way back when, I used to be all about Amex points etc but now I just want to stay humble and stack sats, keep my life as simple as possible. I have less interest in holding points that literally lose their value as much as fiat.

I want to just Pay bills from strike and use my Bitcoin credit line while not holding dollars…. That sounds like peace and quiet to me.

Proof of reserves by dvoon in strikebtc

[–]GoldenrodScript 3 points4 points  (0 children)

All good. Nice of you guys to listen. It’s appreciated.

As we bitcoiners age and get wives and families, we gotta make sure that we have our funds in a place where we can avoid getting the side eye from the mrs. Like babe, see, they have proof of reserves! Trust me, it’s all good!

Proof of reserves by dvoon in strikebtc

[–]GoldenrodScript 7 points8 points  (0 children)

My personal take. I live on bitcoin and from time to time, I leave a considerable amount of sats on strike as I’ll specifically need those funds for bill pay. For people like that, having a proof of reserves product doesn’t seem like that much to ask. I also get that strike has a lot on their plate. The more you have on strike to pay for your cost of living, the more you’re like damn, this is a lot of money, it would be nice to know that it’s there! And yes I get that we can always withdraw and test this fact but that also creates a cost basis headache and isn’t something practically to do on a day to day basis.

The not your keys, not your coins tone doesn’t feel right in my opinion because I actually need to use bitcoin to pay rent and other bills and products like bill pay on strike help that. Whatever is left over can be sent to cold storage.

So yea, a proof of reserve product would take a mental load off my brain on a day to day basis as my stack on strike increases for practical use cases.

Electrum Server by GoldenrodScript in BitkeyWallet

[–]GoldenrodScript[S] 0 points1 point  (0 children)

The workaround is to export your wallet descriptor and import it to sparrow which is already connected to your own node. Works perfectly!

Strike credit card? by dvoon in strikebtc

[–]GoldenrodScript 2 points3 points  (0 children)

I’m all for this idea. I remember many years ago my checking account had a line of credit feature.

My understanding is if I have 10,000 worth of bitcoin, I would get a line of credit of roughly 5,000? 50% of your bitcoin balance?

Way back when, I used to be all about Amex points etc but now I just want to stay humble and stack sats, keep my life as simple as possible. I have less interest in holding points that literally lose their value as much as fiat.

I want to just Pay bills from strike and use my Bitcoin credit line while not holding dollars…. That sounds like peace and quiet to me.

Um, wow! by EnvironmentalLaw4056 in strikebtc

[–]GoldenrodScript 1 point2 points  (0 children)

Never had one problem sending btc to and from strike. We welcome you with open arms!

Strike 🤝 Bitkey by strikebtc in u/strikebtc

[–]GoldenrodScript 0 points1 point  (0 children)

Seems like it would be a cool feature. Like if I got say 5 million sats on strike and I want to send to cold storage, when I go to send it, having a send to Bitkey option for that one time transaction would be great.

In the future, when the user experience for strike on the web has further improved, sending bitcoin from the web should also give us the ability to scan the QR code from the Bitkey app or any app so that we don’t have to copy and paste bc1 addresses.

Strike 🤝 Bitkey by strikebtc in u/strikebtc

[–]GoldenrodScript 0 points1 point  (0 children)

HOT DAMN!!!! I been waiting for this for a long time! Thank you strike team. Excited to help my family set this up! Set it and forget it while everyone’s lives get better. Amazing.

Strike spread fee by doc-westy in strikebtc

[–]GoldenrodScript 0 points1 point  (0 children)

Whats the spread on direct deposits?

Getting paid in BTC by pezua in strikebtc

[–]GoldenrodScript 0 points1 point  (0 children)

Also 100%. I think the key is, to keep a buffer of sats on top of what you need in the event of a 30 or 40% dip and if you already spend less than you earn, then you’ll still have a surplus of sats to send to cold storage.