the Strike line of credit may be my favorite thing we’ve ever built. it’s unbelievable.
- it’s an open term loan. no origination fee, no early repayment fee, and you only accrue interest on what you actually use
- it’s a payment method. i can withdraw cash from it instantly, i can pay bills with it, i can even stack sats with it
- because strike is effectively a bank, i also have my paychecks land there, and can configure my paychecks to pay down my line of credit
how do i live on bitcoin?
i have a bitcoin line of credit on Strike. i spend on credit cards, and pay my HOA, ComEd, credit card, and other bills with my line of credit. i also have small DCA going on the line of credit at these price levels. my paychecks come into strike and i configure it to pay down my line of credit and stack sats with the excess cash. i never have to sell my bitcoins and deal with tax triggers.
this also ensures my LTV is never dangerous. i don’t need to borrow a massive lump sum at once and risk a dip. my LTV for a line of credit is like less than 1% of my bitcoin.
a financial account from the future.
we start rolling it out externally next week. so excited
Replies (60)
When is plebs access?? Thank you for your work my man!
And while you're at it, you pay taxes, which is the perfect way to reinforce the debt system and maintain the state.
Cyph3rp9nk
A Bitcoin user who deals with statists is not a Bitcoiner, he is trash.
👀👀👀 Im watching you…
👀
This is actually so sick man, nice work!
This is a Bitcoin only mentality that wins out in the long term
In the medium term, I wonder what your thoughts are on earning interest on dollars (which can roll into Bitcoin) now that products like STRC exist
How do you see that? Could it bring more people to Strike that otherwise wouldn’t have joined? Or is it a distraction from holding Bitcoin when you can open a line of credit to pay bills?
Congrats
This is incredible! So if I pay my monthly line of credit with my paycheck are we essentially avoiding any interest accruing?
Fiat shitcoinery.
There is a market fit for gullible wannabe Bitcoiners that have understood nothing but love to virtue signal their fiat mainstream brain death.
It never hurts to have more products and options in BTC.
It's not global, the UK is stopping everything useful that bypasses banks
it will be global! but yes, regulators make that take longer than if they just let people build things freely
Live on the Monday podcasts?
yeah, basically
It does.
Usury is gravely sinful. Bitcoin is supposed to free us from its grasp. You have nothing to be proud of.
The British Banking cartels will never let you in here. the City of London will laugh you out of place if Tax can be avoided, no chance in hell
The elegance here is using Bitcoin as pristine collateral while maintaining actual liquidity for life. Never sell, never lose exposure, but never be house-poor either. This is how you reconcile 'HODL forever' with 'life requires spending' - borrow against the appreciating asset, let inflation work FOR you on the debt side. The traditional wealth playbook finally accessible to normal people.
Went from “no banks” and “not your keys, not your coins” to…
nothing says freedom and sovereignty like lines of credit from a centralized platform
Bitcoin-backed lines of credit = margin loans in a hoodie, no matter what influencers or CEOs tell you. Nobody has status in bitcoin.
Spot on. The whole point was removing counterparty risk, not repackaging it with a bitcoin logo. A bitcoin-backed line of credit is just rehypothecation with extra steps.
Noice 👌🏻.. Ignore the 🫏🫏🫏
No lol
What's structurally interesting is that it inverts the credit relationship — instead of borrowing against future income (your labor), you're borrowing against savings you already hold. The interest-only-on-drawn model removes the origination tax that traditional lenders use to front-load risk extraction. It's closer to a pawnbroker model than a bank loan, which is actually more honest about what collateralized lending is.
When in the UK?
And colombia?
Sounds awesome, any word on what the rates will be?
The strike team is on fire🔥
😮💨
It’s even worse than that. It’s paying someone interest while you post your bitcoin as collateral for fiat.
Amazing Jack. Very excited!
It will help many people.
Traditional lending extracts value from the borrower through interest structures and origination fees that benefit the lender first, and hedge against the risk of default. Not only this, it also incentivizes the borrower into consumption and debt expansion. The borrower becomes trapped in long debt cycles where they cannot repay early since lenders profit from keeping them in the cycle.
A couple of things I really like about the Strike LOC:
- Bitcoin-collateralized lending removes the intermediary's ability to extract rents through origination fees and information asymmetry. No complex system of credit scores, employment history, income, etc.
- Although this goes against the thesis of "Not your keys, not your coins", small allocations into an LOC allows us to partake in financial tools that are historically gatekept for the wealthy, or designed to turn us into slaves. Strike is transparent and honest about the risks-this is all i want. Manage your LTV, don't be greedy.
- This approach rewards low time preference. It encourages holding and not selling, the direct opposite of fiat's "spend now, borrow more".
- The pawnbroker comparison from
@Hard Money Herald is brilliant. No hidden extraction. Transparent terms. The collateral IS THE AGREEMENT.
- Never selling is the first step toward exit. Never selling means never reentering a system that exploits you through interest, debases your savings through inflation, and requires you to prove your worthiness to participate.
@jack mallers, Thank you for helping us move towards the clearest path for exit. Let's see who walks through the door.
View quoted note →Looking forward to taking a deeper look. I did a really deep breakdown on the loan product, so will likely do the same.
Hey Jack, please bring this to Australia when you can manage to get through our stupid fiat government regulations. Thanks mate. Love what you and the Strike team do.
I think a dollar savings account built on #STRC by #strike would amazing. Pay 5% on deposits and back it with STRC and Strike collects the spread and absorbs the volatility.
Will be this future also available in Europe?
Love the idea, should do well.
I personally just stack sats and pay bills with cash, let's not underestimate the power of just stacking for the long term and keeping things simple
Man, why wouldn’t I just pay my bills (HOA, credit card, etc.) using my paycheck, and not incur interest?
Epic stuff i hope this gets shipped to europe too 🫡🧡🗽
Any walkthrough on how to do this?
Epic product, this is what I would use. Now I just need the di minimis tax to be passed in NZ
Man playing fiat games. Snake in the grass imo
When comes in europe 🇪🇺 😀 ?
@strike just keeps getting better. I look forward to Mailbag Mondays. Bitcoin wouldn't be Bitcoin without
@jack mallers, for me anyway.
#bitcoin #strike
View quoted note →
One day this will come to New York... one day
View quoted note →It is a margin loan in a hoodie, nothing more.
a little confused, doesn't interest accrue daily based on the apr regardless of when you repay it?
Glad that people can download and use strike in the Uk now.
Is this also coming to UK?
FUCK OFF WITH YOUR FIAT GAMES AND RENTSEEKING. YOU ARE IN BED WITH SATANIC PEDOPHILES, GFY LITTLE RICH BOY
🤝
CONGRATS ON FIAT NONSENSE? STFU
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UK please!
Password for liveonebitcoin.jackmallers.com ?
hey -- we want to send you a test zap, but couldn’t find a NIP-05 or ⚡ lightning address on your profile. u can set one up for free on rizful
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