How I Missed the Early Days of Bitcoin

This is an opinion editorial by bitcoin-focused investor and content creator Enza Coyne.

The other day I was looking in my closet and I found a pair of my old fitflops, Does anyone remember this? FitFlops were sold for some $100 and promised to get your feet in shape just by walking. Seeing them reminded me of the time I traveled across Asia since 2008.

During those years and into the early 2010s, I was busy with my boyfriend/fiancé in Asia managing a company based in Hong Kong. He worked on various finance projects with governments in the region, polishing his MBA, two master’s degrees and finance background, while I spent my days and some nights dealing with corporate affairs and adding to my investment portfolio. In those days, this meant investing in various equities, some Asian venture capital funds and the occasional seed funding opportunity.

Apart from this, I also did some modeling for advertisements and through this I earned my “play” money. And, what was I supposed to do with my “play” money? I wanted to invest in bitcoin.

my first step

In 2010, with bitcoin genesis block I have come across a few stories about this wonder-currency, having been mined just a year ago. I was interested and interested in investing. I was struggling to find enough information and sort out the comments for and against it. The challenges were massive. It seemed easier to forget about it and drink another espresso.

How can I invest? How do I sort out the many technical aspects? I felt like I needed a degree in programming. Plus, I worried that if I figured out where to buy it and how to get hold of it, was I going to get some virus on my PC or be followed by someone from the dark side after I was done? Had been? Could I be subject to one of the many scams or hacks I’ve been reading about?

However, it is sad to think that even 14 years after the genesis block was created, some of these barriers remain for many people, preventing greater bitcoin adoption.

Asking an ‘Expert’

As I mentioned earlier, my then boyfriend/fiancé was apparently a financial whiz. I mean, he was advising governments on their finances and economic development. He was investing in the stock markets since his teenage years. So, why not ask her for help and her thoughts?

Over a weekend in Singapore, I jotted down the news and my questions. I remember that day very clearly. I mentioned bitcoin and my desire to buy it at $100 and sell after it rises to $1,000. I thought it was okay to gamble a small amount because, even if I lost it all, I would somehow cover the loss… maybe with only spending a few hours at a therapist.

Anyway, here’s what I heard:

“What? Bitcoin? It’s only for use by scammers and prostitutes.”

OK, I forgot to ask how he knew but, anyway, the discussion continued. I chalked up his casual comment to the fact that he had just finished drinking a double-shot, tall cappuccino with a pump of hazelnut syrup and was full of caffeine and sugar.

I replied that I had researched it and understood that it was a token for the gaming sector, an industry that was growing rapidly. I added, it may increase in value. It might even reach $10 someday! Then I also reminded him that he had promised to buy me a gift when he was next in Singapore – yes, the elusive FitFlops. I said that, instead of buying me those magic shoes, I would just use the money to buy bitcoin. Now, I could have easily bought bitcoin with my own money, but I wanted to do this as a mutual decision for the future. And I wasn’t a financial expert, so I thought it best to still seek his input. The discussion continued and I finally got him to agree to do further bitcoin research with me.

Savvy / Expert / Nervous Investor

Over the next few days, we both tried to find out more about bitcoin and the potential on-ramp. I found a small and elusive bitcoin group in Singapore. At the time it seemed that you had to know the right people in order to buy some bitcoin.

I figured, at least since the group was based in Singapore, a highly-policed ​​and regulated state, that I would not be subject to the many scam sales and post-purchase hacks to steal coins that existed at the time.

I was wondering how to get in touch with the group and even if I did, how would I know they really were there? Still, I was willing to take a chance because I’d only put down $100, just my FitFlop money. My boyfriend/fiancé/expert had a different perspective. He was an old fashioned, conservative investor. He was one of the first to follow the Warren Buffett approach. Remember, Warren Buffett Haven’t invested in any technology stocks for a relatively long time, The prospect of losing $100 sent him into a panic, even though the upside could turn him into $1,000!

wearing bitcoin on my feet

After finally getting my Warren Buffett sheltered/nervous boyfriend to agree to consider bitcoin, I tried reaching out to the elusive bitcoin group. No email reply, no phone number, no address known. It seemed like the only outcome of my Singaporean bitcoin adventure would be owning a pair of FitFlops. My outreach and research continued for the next few days but to no avail. It appears that bitcoin and its potential to generate huge returns will have to be saved for a select few technocrats or traditional wealthy insiders. I left Singapore wearing bitcoin on my feet.

my first bitcoin and my last fitflop

Years passed. I tried to catch the occasional article or other news about bitcoin. Even as I learned more about how to buy and hold it, I was busy working and traveling and it was impossible to find any reliable bitcoin sources to invest in throughout developing Asia. The area was not the best place to do this kind of research. Even after some crypto exchanges were established, they did not serve customers outside the US

The beginning of my bitcoin journey had to wait until about 2019. While I missed the early days of bitcoin, I can at least take solace that my feet have been happy and comfortable in a decade.

Finally, you may now ask, what happened to my then-boyfriend-slash-fiancé? Well, that is for another article…

This is a guest post by Anza Coyne. The opinions expressed are solely his own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.