Maturing as I Grow Older: Hublot Big Ban Meca-10 P2P

As I have grown older, I look back at how times have changed and how I have adopted to these changes. I also have become more self-aware as person that I was in the past. This has led me to have the patience to think things over before rushing into decisions. In the past, I had run into important decisions with the thought that I could correct any mistake with time and effort. While I have been blessed that in many cases that has been true, many have come with consequences and true financial costs. For example, after a great promotion over 12 years ago, I bought into the Real Estate bubble and despite having a home already, purchased an apartment to speculate on the rising real estate prices in the region. Now, 12 years later, the value of said apartment remains at about 60% of the purchase price with no income in exchanges while still paying a mortgage at a 6.25% interest rate! While I have repurposed the investment and a family member now lives there, it is a lesson that I remember each month when making the mortgage payment.

I recently ran into an article or advertisement that presented me with a new watch inspired by Blockchain technology. The manufacturer of the watch, Hublot, has called it the Big Ban Meca-10 P2P. They have approached the watch similar to an Initial Coin Offering (ICO) whereas they have prepared a whitepaper and a roadmap for its deployment. It was created to celebrate Bitcoin’s 10th anniversary a couple of weeks ago and has two interesting features. It will be a 210-piece watch to represent the 21 million bitcoin that will ever exist! In addition, it will have an engraved transaction ID with the funds transferred for its payment as they will only accept bitcoin for payment; $25,000 worth of it to be exact! They are partnering with OS Limited (OSL) for AML/KYC purposes as well as to broker the transactions. Hublot says the following about the Watch:

Introducing the 210-piece limited edition watch that can only be purchased with bitcoin. The Big Bang Meca-10 P2P pays homage to both the Big Bang series and Blockchain technology, the watch features Big Bang’s signature industrial design as well as aesthetics inspired from cryptocurrency. To no surprise, ‘210’ was chosen for a reason. This watch was created to commemorate the 10th anniversary of this epochal invention including the fact that only 21 million bitcoins will ever exist in this world. A token for contributor of the cryptocurrency community, a fusion between top-notch Swiss watchmaking and cutting-edge FinTech, this Big Bang limited edition is a solid representation of “Art of Fusion”.

Besides my newfound passion for blockchain and cryptocurrencies, I have always loved watches ever since my father gifted me one when I got into College. However, as many collection driven hobbies, it certainly comes at an expense given the prices of many of the watches. I often tell the time that I was celebrating the Holidays and the fact that I had just passed an examination for my profession and was in a watch store; the salesman ignored me because I was young and clearly underdressed (comfortable). When I was finally asked how I could be helped, I was quickly stepped towards the brands I was not interested in. It seemed that my demeanor was not to the salespersons thoughts of who could buy a Rolex. I was furious and like an immature young adult I was, I pointed to the watch I liked and told them to pack it up for purchase as I immediately bought without knowing the price! It took me three years to ultimately pay for it which at the end was a pretty stupid thing to do but yet another example of instant glorification for paying over time. Luckily, I have since learned to take my time and thinking about things like this instead of my initial impulses.

The Hublot was immediately enticing for me as I have wanted one for years. When I saw the relation to blockchain and bitcoin, I was instantly sold on wanting it. When I reviewed it, it didn’t have a price yet which immediately made me even more intrigued about it. I never really went through the registration process because I am overprotecting if my cryptocurrencies and really do not like to use them for payments (which is why the adoption globally is still slow). When the price was finally revealed, it would have taken about 4 bitcoin to pre-order. I immediately remember that it would have been 1.25 bitcoin earlier this year and said to myself I rather have the bitcoin. Looking back it would have probably been a great investment as bitcoin has since fallen about 50% from the price of the pre-sale! However, as I look back I can see how much I have matured in being able to think about decisions instead of going on impulse. I am sure that I would have immediately signed up and bought this if it was 10 years ago!

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While this is truly a beautiful watch, I have come to think that I am at a point in my life where I need to think more about the future and where I want to be rather than the present. I often think about a day in which I can no longer have the need to work for money and instead, have the money work for me. Would I rather have a watch for its beauty and utility or the couple of bitcoin years from now. Just like the now infamous purchase of pizza for 10,000 bitcoin, what could a couple of bitcoin be worth years from now vs the watch? While its limited edition adds another consideration to it, I can tell the time just fine with any of the other watches I have at home at the moment! Over time, I rather have my bitcoin… I think it will ultimately provide me with the means to my goals of financial independence and monetary sovereignty over a great piece of art. Maybe I could still buy the watch in the future with only a portion of a bitcoin instead…. Only time will tell!