Topic: Bitcoin starting to look more and more like TULIP BULBS of 1600s (Read 5463 times)

See my signature.

You could use tulips too, at one point of time.

In a few years, it will.

Tulips were worth more than a few houses in Amsterdam. Bitcoin is not yet there

Did you ever get to plant any bitcoins? What do they smell like? 

Tulip bulbs has little practical use apart from being looked at. You can use BTC to buy things.

middleman is definitely not obsolete....

Ah yes the good old tulip comparison..  Well that's it I'm selling all my coins because you compared Bitcoin and innovative technology that makes transactions with a middleman obsolete), to the tulip craze that happened hundreds of years ago.

 Also the comparison has little to know basis except for the fact that ignorant people can't grasp the Bitcoin is very useful and valuable.

You can keep making the absurd comparation with tulips vs a solid, legit technological revolution that disrupts the global psyche as personal computers and the internet did. You can keep making all these stupid quotes that will be saved to mock you in the future just like these IBM morons when you remember how they said no one wanted a PC or internet or portable phones. Just lol.

Newbie is a retard who started trading this year and Lost his money cuz he's an idiot and a bad trader, and now says bitcoin is dead on the long term. I wouldn't expect any enlightening from someone that short sighted.

Great post!   

Any evidence to backup your "factual statement"?

Except your criticisms are not at all valid...

Xiaoxiao starting to look more and more like falllllllllllling of manipulation101s

2012 called, they want their failed comparison back

Tulips can die
Bitcoins are better than Gold:

Bitcoin an Almost Exact Fit to Gold's Historical Chart

So everyone is interested in Bitcoin and no one thinks it is a bubble?

How can something be a bubble, when most people think it will fail and is a bubble?

Metcalfs law (with some noise). Let's all hope the model isn't wrong...

^Something like that.  There were assembly lines before Ford.  He did a bunch of stuff to streamline assembly--I think he was the first to use parts that were standardized enough not to require hand-fitting.  He did a bunch of interesting stuff, like pay his employees much more than the going wage, and offered their families child care, medical care and ...other stuff

Henry Ford was the first to build an assembly line for mass production.

And another lol.
Ford didn't invent the car, that was (arguably) Karl Benz.  About ten years before the Model T.  
Ford's genius was in making his cars cheap, user-friendly, and affordable.
See some new parallels emerging?
 

getting fuller and more useless by the minute, welcome

what a fucking useless thread full of stupid people.

That's a strong argumentation you made there.

Would you be kind enough to enlighten us and teach us the analogy that will perfectly fit this situation, please?

If you think this is the correct analogy then you'll have to blame your teachers for failing in teaching you logic as this will be precisely the reason why you end up living out of a cardboard box.

There are analogies... that ain't the right one.

Why? I think it's the right analogy. The oily part is exaggerated, but the point is that customers don't necessarily know what's the best technology.

lol at this analogy.  does not work out in the least bit.  lol at "oily, smelly gaz guzzling"

99.99% of humanity would have told Henry Ford they wanted faster horses, not smelly, oily, gaz-guzzling noisy contraptions like "cars", and that's what mattered. Not.

Troll, feed, etc.

No. But 99.99 % of humanity considers credit cards to be way more convenient than Bitcoin. And that's what matters. Not what you and the other ten thousand people in the Bitcoin cult thinks.

Exactly : Bitcoin is a technology that is safe and allow fast and secured payments plus it is a mean of decentralized store of wealth

Valid criticism I can live with, but I personally don't consider credit cards to be more convenient than Bitcoin, other than the fact that a credit card is physically smaller and lighter than a phone or other mobile device. In fact in my experience Bitcoin can be even more convenient than cash.

Valid criticism includes things like volatility and difficulty to acquire in some places.

no you don't start threads like fallling, but you get all defensive anytime someone brings up a valid criticism of bitcoin.

Wow. Did I hit a nerve?

It's the first time (I believe) I ever replied to one of your posts.

I consider myself neither bull nor bear. Call me a "cultist" if you want because I strongly believe in Bitcoin as disruptive technology.

I just like to laugh at bears because they take themselves so seriously.

Like Faiiiling? I don't often even start threads, let alone spam FUD.

**sigh**

I would never leave a bitcoin peer hanging.. High five!

Same. High Five!

Seriously. You would actually have us believe that you have posted hundreds of times on a forum about a commodity which you think will have no value in the future..right.

I have done quite well since December. 

I agree there are a lot of similarities. It may crash hard like tulips one day due to the fact that BC is very difficult to secure for normal humans.

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!
.
.
.
.
.
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.

No no no, not Tulips, you mean Nigerian Princes.  I never got an email about Tulips, only a young fellow from Nigeria that wanted me to wire him some coins as an advance, before he hooked me up with more coin later.  That Nigerian prince is the bomb!  

Worse case compare BTC to magic beans, as they can magically create a giant beanstalk where after climbing it you can get a bag of gold after trading in your cow or home mortgage.

I think you meant to post this back in December 2013. The price charts have been "stable" in the US$400-600 range for the past 6 months.

I'll have someone fetch you the time machine.

It's really not like Tulipmania. Completely different ideas. Might as well compare bitcoin to pogs and pokemon cards as well.


Online gambling isnt where i live. What country are you in? Saudi Arabia?

Also, tulips can die.

Tulips are a multi-billion dollar industry, what are you guys smoking?

2012 called, it wants back your comparison of bitcoin to tulipmania

look this has been discussed a lot and it gets annoying. the reason the tulips crashed hard and no one wanted them anymore was because at some point it became like gold trading. people didn't physically have the tulips they had a piece of paper saying they owned X amount of Y tulips and BLAH.

bitcoina ddresses clearly state that X addresses owns Y of bitcoin, but bitcoins are useful for spending on lots of things and that isn't going to change. tulips were all about being rare color and texture and being raised at X farm and were worth Y because of Z and also due to A and B and C and D that this tulip was better than E.

bitcoin has nothing to do with that. Bitcoin is X address owns Y bitcoin and can be used to buy Z. its not more complicated than that on the buy/sell side.

So because Bitcoin makes it easier to spend money on the internet and that opens the doors to more online gambling websites... tulips

Did I read your non-point correctly?

Not online gambling.  Online gambling is illegal/heavily regulated in most places. 

Bitcoin seems like the modern day tulip mania.  Visa is so much more convenient than cryptos.  We asked for businesses to start accepting BTC's.  Now that it has, btc's potential is being revealed, and it is what it is; not really limited which is an illusion because it can be broken down to unlimited pieces; not really that anonymous because everything can be tracked; and not really that easily transferred because of problems with blockchain/double spending...

I don't get or see your point here. No, it isn't like Tuplimania. How would the government legalizing gambling or drugs 'doom bitcoin to death'? Isn't gambling already legal in most places anyway?

During the 1600s people were dying for these bulbs.  Flower shops started popping up everywhere just like miners today.  If the gov't ever start legalizing gambling and drugs, isn't bitcoin/ alternate coin just absolutely doomed to death?

I mean, BTC gained momentum because it is a better system than fiat and easier to carry around than commodities, however, if the gov't fall and a better regime takes over, isn't bitcoin just doomed to death as well? 

Starting to look more and more like Tulipmania to me...