"wasted", I think, is kind of a big word. Based on your post on the other thread, it seems you enjoyed it, so what the hell.
You could probably have spent it better, but that doesn't automatically label it "wasted".
And the first time is highly symbolic, so ok that's important, but if you think it well, it's just that - a symbol. You'll have plenty of other times, and maybe - let's hope for you - with a guy you love and loves you back. This will be another "first time", if you see what I mean. Just lust, and sex + feelings are different things.
As for what sex means, I recommend Webster's or some other dictionnary.