Topic: Bitcoin Craze Is Not Like The Tulip Story (Read 142 times)
yes bitcoin is dotcom, not tulips
Quote
The Bitcoin buying frenzy most closely resembles the speculative purchase of Google shares than the tulip craze. Comparing Bitcoin
with tulips reveals that tulips fulfill only the store of value function. Tulips are commodities, like stocks and shares, rather than currencies like the US dollar. Tulips (and shares) have not commonly been used to price and transact deals for other commodities or to settle debts. Nor have they been used primarily as a means of moving wealth from one location or person to another. However, both tulips and shares have been purchased in the anticipation that they will either hold or increase their value to a greater extent than the purchaser can expect from holding the sum used for their purchase in a currency (or the alternatives that can be purchased with it).However, comparing Bitcoin with tulips reveals that tulips fulfill only the store of value function.
Please read more of this very good article here.
with tulips reveals that tulips fulfill only the store of value function. Tulips are commodities, like stocks and shares, rather than currencies like the US dollar. Tulips (and shares) have not commonly been used to price and transact deals for other commodities or to settle debts. Nor have they been used primarily as a means of moving wealth from one location or person to another. However, both tulips and shares have been purchased in the anticipation that they will either hold or increase their value to a greater extent than the purchaser can expect from holding the sum used for their purchase in a currency (or the alternatives that can be purchased with it).However, comparing Bitcoin with tulips reveals that tulips fulfill only the store of value function.
Please read more of this very good article here.
I am sure all of us here have heard or became familiar with the tulip craze or mania that happened centuries ago as Bitcoin has always been compared into it. There are some similarities, of course, as volatility due to heavy speculations run through the two stories. The article above though is presenting a little bit different view on this subject. I am asking that we read more of this so we can understand Bitcoin more and its very fundamental nature.
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