We've all heard about the two pizzas that were bought with 10k bitcoin, and how they were the most expensive pizzas ever purchased. The conclusion one seems to reasonably reach is that this guy lost millions in a poor decision, and that you should therefore never spend your bitcoin. Therefore, some argue, bitcoin would never really become a medium of exchange since no reasonable person would subject themselves to such lost opportunity cost.
But every purchase you make that doesn't buy bitcoin has cost you just as much. Back in 2010 the two pizzas you bought with US dollars cost you just as much as that man, because you bought pizzas instead of buying bitcoin and storing it long term. We may jokingly chastise that transaction, but everyone has made a similarly impactful financial decision, they just don't realize it. Today, everything you buy that isn't bitcoin is costing the future you as much money as anyone spending bitcoin today.
The reality is that everyone needs to spend money, be it to survive or to enjoy life. Whether you spend in US dollars or bitcoin is inconsequential.
So have peace of mind: go and buy bitcoin. Go and spend bitcoin. And replace the spent bitcoin next time you can. It's all the same.
Just don't store long term money in fiat and you'll be fine.
Submitted October 23, 2023 at 10:52AM by Codebending https://bit.ly/3tGm4ap
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