Bitcoin Forum

The same as it should feel if you spend your fiat on something other than bitcoins before the price goes up.


When people hear about Lazlo spending 10,000 bitcoins on a pizza back in 2010 they usually say "damn, he's probably kicking himself right now".

Well, why aren't you kicking yourself right now for not buying 10,000 bitcoins for $25 back then? It's the same thing. He could have spent $25 on a pizza or 10,000 bitcoins on a pizza. Or he could have spent $25 on 10,000 bitcoins.

So if you spend some bitcoins on something, then the price goes up. Don't worry about it. Would you have spent fiat on that thing? Fiat that could have been used to buy bitcoins...

There is someone who speaks to your head and saying "why why did you do that. Didn't you know what will happen ?"
But after that i keep relax, there is nothing that you can do after it's done.

Exactly and it is least concerned once we have already spent. You cannot keep on regretting on it and why we are earning?? whether its bitcoins or fiat, we are earning to spend so if we keep on thinking like that then its better not to hold either fiat or bitcoins.

i know a good amount of traders that once bitcoin goes up 10 to 20 usd they cash out in order to get their profits out and wait for a new entry, the bitcoin makert is a crazy play ground when it comes to day traders, they just love the gains.

I used to worry about this kind of thing, but then I realized that I can't predict the future.  Those guys who got rich by being early adopters might have seen the potential in bitcoins, but there is no way they could have known what the price would be in the future.  So when this happens I just shrug.

very true Elwar.

if i could travel back in time i would spent 20.000 BTC for some fucking pizzas. people that say "damn, he's probably kicking himself right now" dont get it.

What's done is done.
My BTC are currently worth less than when I have bought them. A lot of people would argue, that I have lost money. No, I didn't, since I wasn't stupid enough to sell them at a lower price, than I bought them.

I also mostly just buy new coins, when I used them, so there is also no loss there.

People are just worrying too much. The only loss is in your head(pun intended)

Obviously everyone kicks themself after doing something like that, but no one knows the future, and you could have just as easily saved yourself from LOSING a lot too.

BUT, the one thing I've picked up following the show "Shark Tank" and the investors on the show is they have one common lesson:  Failing is good.  You need to LEARN from your failures so you don't make them again, and you will be better equipped going forward to succeed.  There's no point wasting time being upset because you made a bad call, nothing you can do to change that.  Just move forward and keep going.

25$ for 10000 BTC ? I kick myself even after the price goes up by 10$ when I would have just sold a few BTC's . But lately even I have been trying to avoid feeling bad for things I missed out on. There is nothing gained after regretting actions in the past.

The "fun" part of this is probably both the owner of 10.000 coins and the pizza deliver man that delivered the 10.000 coins both have no BTC right now because back then it was almost useless, so I doubt they took extra measures to hold those coins for years.
Lesson learned: Feel free to spend your BTC, but have a % of it frozen and have a % of the BTC you make to keep growing that frozen stack for the future.

Two months ago, I sold 70% of my coins for $230 each. And now the prices are in the $275-285 range. And worse still, I might need to sell my remaining coins as well. I have a debt repayment ($1,000) due in the next 15 days time, and right now I have just $200 with me. Feels bad to sell the coins... but I don't have any other option.  ???

Depends on how much that something is. If that something costs 1 btc, the difference is not big. People who mind these situations should buy bitcoin back immediately after purchase. Anyone who isn't buying bitcoin now has no right to be envious when bitcoin hits $1000 again in a few years.  ;D

We are earning to spend, you are right but why not to be a bit economist and think where we spent them.

that's why i'm not spending it for the moment, and until the price is right or until i can use them directly, but always with a good value

for how i'm seeing it, bitcoin's value should be between 1k and 10k, before it will be comfortable to spend it, without thinking that i'm wasting money because of its veiled potential

How does it feel to spend bitcoins and soon after the price goes up?

I'm the opposite. I'm dissapointed I don't get the chance to spend them just after the price then crashes back down again  :D.

I definitely used to have that syndrome. But somehow 80% of shopping I do with Bitcoin end up with the price going down in the hours/days after :) I've been actually really lucky on that...

I eventually ended up just not caring. I still try to spend either on discounts or on price bumps, but I'm really not concerned if the price goes up afterwards.

The problem is people segregate money into different mental accounts. That is my "bitcoin money". That is my "movie ticket money".

An interesting experiment - If it costs $10 to watch a movie and you think it is worth it, you buy the ticket and watch the money.
If you buy a ticket and then lose it, would you buy another ticket to watch the movie?

There are people who are also spending on porn sites. I don't think that it sounds great that people are spending their valuable bitcoins only for watching a porn. Lol..What should we say to this people?? And spend only when required or else you have fiat to take care off.

Well i dont want to mention that name they are lost, hope they will be back to the normal life. There is nothing to earn there.

I honestly don't mind. At worst I'll go "Oh well," but it shouldn't matter. I'm just happy I was able to use Bitcoin as a payment method.

Well to purchase something immediately the bitcoin price doesn't matter, but if you hold the bitcoin for a mid/long time then the price does matter very much.

I feel even more awful when I miss a opportunity to buy BTC at 280 and the next day I see the price is over 300.

whenever i pay with bitcoin, i try to buy back the same amount of bitcoin with fiat as soon as possible...

this is classic debate on whether bitcoin is an investment or can it be a currency.

for those who see / use bitcoin as another currency it doesn't matter what the price is, like the pizza story. they don't care if the price will go up the next day or falls to the ground because they are spending as they earn.

but for those who see it as an investment and don't see the potential of a currency (at least not yet) it is supper hard to even thinking about spending bitcoin while it can go up and they make huge profit from their investment.

I think the opposite is also true... What if, the pizza guy, bought 2000 Bitcoins at $1000 and the price went up to $10 000 and he decided not to sell or buy a bunch of things, in the hope that it would go up to $100 000 and then it goes down to $200 and it stays there.

We have no crystal ball, and the pizza guy {Lazlo} did not either... What we do have, is information showing that Bitcoin will become more rare over time. {Block halving} and it's merchant adoption is increasing.

The VC Capital investment is going through the roof, and a lot of governments are looking more relaxed at Bitcoin now.

These are all indicators that it's going to go mainstream and it's value will increase... BUT it's not a perfect world in Bitcoin... We have so many scammers and criminals and hackers trying to profit from it, and the next scandal is just around the corner.  >:( :( ???

yes, very good and clear logical argument.

unfortunately, some people are not smart enough to realize it and using words like Joe: "hohoo, bitcoin is low right now, so I will buy it with fiat". One other hand, it is kind of psychological effects, which blocks the logic. Is simply quite "hard" to sell something for lower price, than you bought it. Even it doesn't matter, once you will buy it with fiat..from some perspective, I somehow understands it..

What can I say if something like that happen. If I know this would be happen, then I will wait bitcoin price goes up before I spend it.
But imagine if all people doing this also,... bitcoin price will keep stable even decreasing

if "all people" paying with paypal these days will start using bitcoin overnight, I can quit my job..:)

btw, all depends on demand and demand depends only on public interest and needs in bitcoin/privacy and trust to current banking system. we simply need more users and doesn't matter if they will hold, buying pizza every day or short trading on exchange..massive adoption is key and behaviour not impacting price at all.

Just say to myself I bought stuff at higher prices than this ^^
That said it's not as extreme as Litecoin has been in the last little while.

Everyone hates it when they don't get in on the increasing Bitcoin price. In hindsight, it's always hard to accept you missed out on the opportunity to make millions. It's not something to dwell on though. I feel the price should increase from the point we are at now. Of course you won't become a millionaire, but any type of ROI is notable.

most of the purchases i make with bitcoin are made in terms of fiat, so when the price goes up and i make a purchase, it feels like i got to take part in a little sale. :) the opposite also hold true when the price goes up after making the purchase, but theres nothing that can be done with the bitcoin price volatility.

For me, it's really nothing. As I spend my coins, I will make sure that I buy back the same amount to cover back the shortfall. Sometimes the price is higher, sometimes lower but I just make sure I did that within days and therefore the price fluctuation won't be so much. If I lose, I lose small similarly if I gain, it makes very little difference.