What was this strange alternative currency called Bitcoin and where can I buy some?
I heard about Bitcoin for the first time in May 2011. A “cryptocurrency” (whatever that means) that used computer power to create digital coins that could be used to buy things without ever having to use government currency.
I was immediately fascinated. This wasn’t the first time I heard about alternative currencies. I was listening to a podcast / radio show called Free Talk Live A lot back then, with people from New Hampshire talking about people moving there and creating a (more) free society. They talked about using “junk silver” (old minted coins with actual silver) and other alternative currencies to exchange goods with local people. However, I’m sure the first time I heard about Bitcoin was on their radio show or a similar podcast.
No matter how I found it, I was immediately impressed! I started doing all of the standard research – what cryptocurrency means, why it’s beneficial, what to buy with it, and how it could be a global currency in the future, etc. Well, maybe in the future, at this point they just were I really use it to buy drugs on the silk road.
I couldn’t understand exactly how exactly it was produced by computers or where it got its value from, but I was fascinated nonetheless.
But regardless of how it really works, I wanted to know where I can buy some ?!
My first thought was to throw a few hundred dollars on it.
What the hell, it’s gonna be a bit of fun. I never play so could this be my little gamble, say $ 500?
Yes, that sounds like a good plan.
There weren’t many places it was available at the time, but Mt. Gox kept popping up.
The price? Just $ .18 / bitcoin.
Sure, it could mean I wasted $ 500, but what if it turns out to be as cool as I imagined? It could cost a few dollars, maybe more? Who knows…
Well, we all know where the story goes from there. Bitcoin eventually rose.
Also well beyond the “few dollars” mark.
So what is it like to get into the bitcoin craze before almost everyone else?
I wish I could tell you
I don’t know what it’s like to buy it for 18 cents because I’ve never bought one. I wasn’t really comfortable with any of the exchange platforms (let’s face it, there was probably a better chance they would take my $ 500 and go) and then I forgot about it for a while.
And when I heard about it again, it was over $ 100. I thought I missed my chance so I let it go. And then it went on … and on … and on …
So if you know someone who bought it for 18 cents when I made a wish, please let me know! I would love to talk to you!