It’s a paradoxical curse. This feels similar to being an early adopter, paying $8000 for a Betamax except it works in reverse. You push and press for being able to spend your hard earned bitcoin. Maybe it was 2014 and you used circle to buy and sell bitcoin for paying things like rent. Maybe you bought an xbox one from newegg and they offerred you a gift card and xbox live service for a year – it was a sweet deal right? Well, You spent a few coin or fractions of a coin, maybe that coin was a few hundred dollars. These days that coin is now worth dozens of thousands of dollars. Kashmir hill paid 130,000 in todays dollars for a sushi which was at the time a the tab of a reasonable 10 Bitcoin.
Turns out you’re going to spend heavily eventually if you spend early enough. I think I spent .11 bitcoin based on the time of the reciept. That in today’s dollars is $1485 dollars – ON AN ANNUAL DOMAIN NAME! So yeah I spent $1500 on a domain this year, what did you do? :3 :/ /s
The flip side I hope was that I was still buying back my bitcoin at the time, though still it just begs me to ask, why didn’t I buy up more bitcoin back then, then? I hope that many of the early adopters chose to rebuy any coin they sold or gave away or spent. There are plenty of horror storries to be read through /r/bitcoin if you wish where people have had chances to then lost them all from either early mover greed or speculation that the price was fairly high placed at that time. Also, if it comes that you’ve reached a major gain on the order of several thousands of more then pat yourself on the back for you have beaten Gold/Silver and your 401k. Spending your time focusing and fixating on what was lost and what could have been will just writhe your good spirits. Comparison not only leads to the death of joy and birth of misery. (I took that from somewhere but cannot recall, so if you know where that came from let me know so I can properly cite them!)
Right, we were on topic on why we’re all sort of Lazlo with the Pizza, and it’s true! We spend our Bitcoin gleefully when we find out that we can and we look a few years later and holy cow I spent a rent check or a small car or perhaps a Lambo on a disposable, consumable, good. However, had we not participated in the system, had I not given my domain registrar some money, had I not given NewEgg 1.08 Bitcoin for an Xbox One, had I not spent Bitcoin using pizzaforcoins on pizza day in 2015 too, we still would have seen the same prices we see today though I would not have gotten the opportunity to distribute coin through the means that I had – by earning it, then spending it. I suppose I’m glad that I’ll have some good stories to tell as Ice-breakers at parties in my future.
Lessons we should take as Lazlos (spenders of bitcoin):
Do not spend ONLY from Bitcoin/Crypto – make sure to replinish what was spent when you do however.
Do not spend your life feeling pestered over what you lost as a result of spending the coin.
Do spend cryptocurrency as you encourage the community through stimulus growth – if you wish to do so without feeling that you’re wasting the money then consider spending the bitcoin on services instead of goods – I funded my trip to the 2014 North America Bitcoin conference using Bitcoin and loved it despite the fact that I don’t want to consider the trip costs a small luxury car these days.
Instead of point 2 from above: Do cherish the memories that came from the then-new ability to buy things on the internet using cryptocurrency. I still love my xbox and my website here, and that trip I took and will not let my past dictate how I feel in my present.