Topic: Bitcoin starting to look more and more like TULIP BULBS of 1600s - page 3. (Read 5379 times)

I warned you guys back in DECEMBER:


And the same donkeys like Jimbo were just tearing me apart.  Now he's doing the same thing.

Look, is not visa more convenient than cryptos in terms of purchasing goods?  Why would someone go through the hassle of trading for bitcoins on localbitcoins and risk getting scammed, or having to send in docs and wait days to get bitcoins, only to spend it @ overstock when they could have just bought with credit card?

jimbo, you are like the bull version of falllling.

Xiaoxiao, you seem very bored lately. Maybe focus on your speculation/trading thread again ?

You keep mentioning Visa brand credit cards.

Is that your employer?

eye opener..
it looks like a tulip mania because...
SURPRISE!
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.
.
.
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IT IS!

Yeah especially the ones purchased in 1600, these are very precious now! Oh wait you are talking about some other tulip bulbs, not the ones purchased in 1600, because the intrinsic value of these went down the decay hole like several years after they were purchased. So your hypothetical value, invested in tulips in 1600 is now worth precisely zero.

Bitcoin, on the other hand, is much more resistant to decay than even gold. The first money with practically indestructible units.

Would you care to take a 10oz silver wager on that?

The difference is this:

Several hundred years after the tulip mania, tulip bulbs are still actually worth something. They have intrinsic value.

Bitcoin, on the other hand, will be practically worthless a few years from now. By 2020, BTC will trade for way less than one dollar per coin. By 2025, BTC will be valued at less than $0.05.

A few years ago people would have paid $1 million for a black tulip because nobody had bred one, so perhaps tulip mania is not quite dead. Someone has now managed to breed one, but they must wait before they can start selling because each year's bulb produces only two new bulbs. The price will be high when they finally start selling black tulips.

Not this argument again.

Tulip bulbs, in the scale in which they were traded at least, served absolutely no purpose. Never even aspired to anything other than an object of speculation.

Bitcoin is highly speculative in its current form and at its current price. That's where the similarities end, however.

Bitcoin aspires to serve a very well defined purpose: becoming a global decentralized currency. An improved version of cash, with the added benefit (in the eyes of some) that money supply is finite.

Tell me again please how tulips resemble that last part?

lol @ purchased account and slow learner.  NEITHER.

Date Registered:   May 29, 2011, 04:45:07 AM

I have difficulty believing that someone who is supposedly here since 2011 didn't spend five minutes to educate themselves. So either a purchased account or someone who didn't manage to understand anything about bitcoin in 3.5 years, wow! You are surely a slow learner.

Or maybe just a child? This "gov'ts fail and better regime takes over" kinda implies extreme naivety.

Here, I'll spell out for you:
bitcoin is not tulips because bitcoins can't be faked
bitcoin is not tulips because production is limited by design
bitcoin is not tulips because bitcoin price goes both up and down periodically
bitcoin is not tulips because bitcoin has usefulness and actual utility beyond pure beauty
bitcoin is not tulips because once you have bitcoin, you can't make several of it just by sticking it into the ground
bitcoin is not tulips because bitcoin is also money, financial ledger, identity system and much more beyond just commodity

ok last, the most important one: just because two things have one attribute out of hundreds in common, does not mean one looks the same as the other. Orange is not the same as Sun, although both look round and orange. You have to consider *all* the properties of an object when making a similarity statement, or it sounds rather foolish.

... except the part where the price didn't go from 1200 to zero in a month.. You know...  it's just 100% different but okay.

the tulip era failed because people began making unlimited amount of tulips. i think the OP doesnt realise what deflation is or the bitcoin limit.

oh well if he has lost faith in bitcoin he should just hand them to a charity like seans outpost, and move on with his life

Is gold not limited because it can be divided into atoms?

good point there

Are tulip bulbs the fastest, cheapest, and most secure way to pay anyone on the planet?

Haha, this is one of the oldest criticisms of Bitcoin. People have been attempting to compare Bitcoin to the Tulip bubble since probably around 2010. Funny to see it pop up again in 2014 when I can go buy a computer with BTC on dell.com.

Ah well the good old tulip accusation... Yeah haven't seen that in a while. The chart in your picture doesn't look like the tulip bubble at all. Apart from that, Bitcoins can't be reproduced arbitrarily and actually can be used to transact value, which tulip bulbs can't really do, you know?

Are you really trying to compare flower bulbs to an online digital currency and payment network?  They're not comparable at all.


 


   I lold.