Tulip Mania 2.0 - page 3. | Bitcointalksearch.org

Wind_FURY

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Quote from: SquallLeonhart on September 17, 2021, 02:23:56 PM

Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

Honestly NFT's are definitely like tulip mania 2.0, that is not even a hard guess. It is obvious that people are not doing anything that makes sense during this period, they are spending money on things that actually has no worth at all. I hope that one day people will realize that they are doing something wrong, but the moment that is realized we are talking about something that is very horrible for all those people who spent that much money so far.

I believe it would help give NFTs “value” if they were issued in the Bitcoin blockchain. The NFTs themselves might be a victim of bull-bear/mania-depression cycles, but they will be encased in a multi-generational protocol in Bitcoin. Shitcoin blockchains will die, Bitcoin chugs along.

SquallLeonhart

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Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

Honestly NFT's are definitely like tulip mania 2.0, that is not even a hard guess. It is obvious that people are not doing anything that makes sense during this period, they are spending money on things that actually has no worth at all. I hope that one day people will realize that they are doing something wrong, but the moment that is realized we are talking about something that is very horrible for all those people who spent that much money so far.

I hope that one day we will reach to a place where it slowly goes down, not over night but like in a year. So that people who spent so much money end up losing only a little, and everyone else loses only a little and there aren't like a horrible crash that sees billions of dollars taken away from NFT world in under a month. That would hurt crypto world as well, it would not be really a good thing for any of us.

Wind_FURY

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Quote from: eaLiTy on September 16, 2021, 01:35:21 PM

Quote from: Wind_FURY on September 16, 2021, 04:55:15 AM

~
The only people who keeps repeating, and keeps making us believe in the narrative that NFTs are “here to stay” are those same people who have invested much of their coins in them. Why would I convert my precious Bitcoins to a shitcoin, to invest in an NFT? Cool

Even i was confused in the beginning when people were spending huge amount for basically small pictures in digital form, Everydays: The First 5000 Days of an artist sold for $69 million which is crazy and some of the CryptoPunk collections sold over multiple million dollars. I started venturing into the NFT market with a team who sells aNFT and there are many users that are new to the cryptocurrency market who are there just to purchase the aNFT of their favorite sports person and Lionel Messi was a huge success.

Will see how the NFT market would be in the next couple of years and then i will make a comment Grin

.

If NFT should truly be valuable, then I believe it can only truly exist in the most truly valuable blockchain, that’s truly decentralized and censorship-resistant. Those other shitcoin blockchains are only mere databases. HODLing anything in them is a risk.

kryptqnick

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Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

There are things in the crypto industry that explode in popularity at some point and then fade away because they weren't that cool and useful after all. At first, we had the ICO boom of 2017, then there was a time of DeFi projects in 2020, and NFTs exploded in 2021. These are similar to tulip mania in the sense that they are overhyped, and yet even all these things are not exactly the same with tulip mania and have more value in them. There's only so much you can do with flowers, but ICOs gave birth to some pretty cool projects, and I'm sure DeFi wasn't all that bad, while some NFTs really helped talented creators to gain support from their admirers.

jaberwock

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Quote from: Wind_FURY on September 16, 2021, 02:17:57 AM

Quote from: davis196 on September 15, 2021, 06:30:07 AM

The original Tulip mania was one gigantic price bubble,which popped and the tulip prices never reached the same level.Bitcoin price is going up and down,while maintaining a price growth in the long term.
There were multiple price bubbles in the history of BTC,but all of them popped and the market price recovered and gained even more value after that.There's no room for comparison with the original Tulip mania,which happened in the Netherlands a few centuries ago.
NFTs are the next "shiny object" that will attract all the "financial gamblers",pump&dump traders and speculators seeking for "the one big hit".4 years ago,ICO tokens were the same thing,now the NFTs took over.

Plus to those people/nocoiners who kept telling us that Bitcoin is a “Bubble”, let’s ask, HOW LONG MUST THE PROTOCOL RUN FOR THEM TO STOP CALLING IT A PONZI/BUBBLE? It has been 10 years, and Bitcoin has kept chugging along, despite the FUD, the BANS, the multiple declarations that it’s DEAD. HOW LONG?

Until it doesn't hurt them anymore. Bitcoin and crypto in general turned so much of new generation away from banks and into crypto. Even when we are putting our savings into crypto we are hurting banks. How? Well, banks are so huge that they would rather have the money in their deposit account, and not that we are not doing that again, how do you think all these exchanges hold your money?

When you give fiat to coinbase and get bitcoin, they are keeping that in a bank, but it still hurts them because it is in the hands of one giant corporation and not millions of small retail investors and that giant one could use that power to get much better situation for themselves instead of million smaller investor that would be forced to accept banks terms. This is why crypto gives us power over banks and they hate it and they pay people to keep saying bad stuff about us. The moment banks can store crypto, the moment they will start calling it awesome.

eaLiTy

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Quote from: Wind_FURY on September 16, 2021, 04:55:15 AM

~
The only people who keeps repeating, and keeps making us believe in the narrative that NFTs are “here to stay” are those same people who have invested much of their coins in them. Why would I convert my precious Bitcoins to a shitcoin, to invest in an NFT? Cool

Even i was confused in the beginning when people were spending huge amount for basically small pictures in digital form, Everydays: The First 5000 Days of an artist sold for $69 million which is crazy and some of the CryptoPunk collections sold over multiple million dollars. I started venturing into the NFT market with a team who sells aNFT and there are many users that are new to the cryptocurrency market who are there just to purchase the aNFT of their favorite sports person and Lionel Messi was a huge success.

Will see how the NFT market would be in the next couple of years and then i will make a comment Grin

.

Silberman

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Quote from: el kaka22 on September 14, 2021, 05:54:37 AM

Could someone explain to me why REALLY the tulip mania happened? I mean in order to understand if bitcoin is like tulip mania or basically like any other bubble back in the day, we need to understand why it happened.

I understand that tulips were scarce and that is why it costed a lot back in the day but we all know (at least know) that it is something you can take the seed and farm a lot more, you could have tulip farms as far as eye can see, why would it cost so much when it is known that it could be farmed in thousands? Did they not know it? Did people back in the day thought that tulip was just grown unexpected in some places and can't be farmed?

I mean bitcoin is valuable because it is a currency, you can't just get one bitcoin and then farm it to reach thousands, so why would it be any similar to tulip right now? We can only learn it when we understand tulip mania.

If I remember correctly what happened is that even if Tulips were not rare there was a mutation that caused the Tulips to have slightly different colors and other characteristics and it was this mutation which was very rare, then Tulips became a status symbol and this increased their price, but what really pushed things into overdrive was that the first futures market was created, basically a futures market is when you sell something that you do not have yet but you are expected to have at a fixed price in the future, like new tulip bulbs coming from a harvest, so people began buying the rights to the tulips before the tulips even existed, eventually the public noticed and entered the market and this created the famous Tulip mania.

Wind_FURY

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Quote from: Betwrong on September 16, 2021, 02:53:38 AM

Quote from: el kaka22 on September 14, 2021, 05:54:37 AM

Could someone explain to me why REALLY the tulip mania happened? I mean in order to understand if bitcoin is like tulip mania or basically like any other bubble back in the day, we need to understand why it happened.

I understand that tulips were scarce and that is why it costed a lot back in the day but we all know (at least know) that it is something you can take the seed and farm a lot more, you could have tulip farms as far as eye can see, why would it cost so much when it is known that it could be farmed in thousands? Did they not know it? Did people back in the day thought that tulip was just grown unexpected in some places and can't be farmed?

I mean bitcoin is valuable because it is a currency, you can't just get one bitcoin and then farm it to reach thousands, so why would it be any similar to tulip right now? We can only learn it when we understand tulip mania.

First off I'd like to say that I agree with you, Bitcoin and Tulip Mania have nothing to do with each other.

To me, what really resembles Tulip Mania is CryptoKitties NFTs's rush, which is still not completely out btw, the daily trading volume reaches millions of USD sometimes these days. The similarity lies in the fact that both, tulips and kitties, are breedable, and people buy them not simply to possess and admire, or get get some kind of status among their friends, but hoping to make money on a unique and desirable strain.

The only people who keeps repeating, and keeps making us believe in the narrative that NFTs are “here to stay” are those same people who have invested much of their coins in them. Why would I convert my precious Bitcoins to a shitcoin, to invest in an NFT? Cool

Betwrong

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Quote from: el kaka22 on September 14, 2021, 05:54:37 AM

Could someone explain to me why REALLY the tulip mania happened? I mean in order to understand if bitcoin is like tulip mania or basically like any other bubble back in the day, we need to understand why it happened.

I understand that tulips were scarce and that is why it costed a lot back in the day but we all know (at least know) that it is something you can take the seed and farm a lot more, you could have tulip farms as far as eye can see, why would it cost so much when it is known that it could be farmed in thousands? Did they not know it? Did people back in the day thought that tulip was just grown unexpected in some places and can't be farmed?

I mean bitcoin is valuable because it is a currency, you can't just get one bitcoin and then farm it to reach thousands, so why would it be any similar to tulip right now? We can only learn it when we understand tulip mania.

First off I'd like to say that I agree with you, Bitcoin and Tulip Mania have nothing to do with each other.

To me, what really resembles Tulip Mania is CryptoKitties NFTs's rush, which is still not completely out btw, the daily trading volume reaches millions of USD sometimes these days. The similarity lies in the fact that both, tulips and kitties, are breedable, and people buy them not simply to possess and admire, or get get some kind of status among their friends, but hoping to make money on a unique and desirable strain.

Wind_FURY

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Quote from: davis196 on September 15, 2021, 06:30:07 AM

Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

The original Tulip mania was one gigantic price bubble,which popped and the tulip prices never reached the same level.Bitcoin price is going up and down,while maintaining a price growth in the long term.
There were multiple price bubbles in the history of BTC,but all of them popped and the market price recovered and gained even more value after that.There's no room for comparison with the original Tulip mania,which happened in the Netherlands a few centuries ago.
NFTs are the next "shiny object" that will attract all the "financial gamblers",pump&dump traders and speculators seeking for "the one big hit".4 years ago,ICO tokens were the same thing,now the NFTs took over.

Plus to those people/nocoiners who kept telling us that Bitcoin is a “Bubble”, let’s ask, HOW LONG MUST THE PROTOCOL RUN FOR THEM TO STOP CALLING IT A PONZI/BUBBLE? It has been 10 years, and Bitcoin has kept chugging along, despite the FUD, the BANS, the multiple declarations that it’s DEAD. HOW LONG?

davis196

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Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

The original Tulip mania was one gigantic price bubble,which popped and the tulip prices never reached the same level.Bitcoin price is going up and down,while maintaining a price growth in the long term.
There were multiple price bubbles in the history of BTC,but all of them popped and the market price recovered and gained even more value after that.There's no room for comparison with the original Tulip mania,which happened in the Netherlands a few centuries ago.
NFTs are the next "shiny object" that will attract all the "financial gamblers",pump&dump traders and speculators seeking for "the one big hit".4 years ago,ICO tokens were the same thing,now the NFTs took over.

Oceat

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It's just a matter of time before they realize that NFT is the real or next tulip mania and not the Bitcoin itself. Clearly they don't understand how blockchain works that's why they keep spitting BS on their mouth when all they can do is to find someone who wants to buy all of their shitbag of coins.

Let them have their status as the rich while it's still convenient since this is actually working for them in a long time but I believe in the future that we will be seeing people using Bitcoin as a normal currency that has a stable price. We might not be alive by the time it happens but I hope so that it would actually continue to operate just like what Satoshi wanted it to happen.

Wind_FURY

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Quote from: el kaka22 on September 14, 2021, 05:54:37 AM

Could someone explain to me why REALLY the tulip mania happened? I mean in order to understand if bitcoin is like tulip mania or basically like any other bubble back in the day, we need to understand why it happened.

Simply people, especially the rich/wealthy, found that Tulips were beautiful and bought the most expensive Tulips in the market to show his/her friends. His/her friends, wanted the same “status-symbol”, also started buying Tulips. An open market was made because there was demand for Tulips. Tulips of low quality were planted, to meet demand. Then, people across all economic classes began trading Tulips, to get rich. Is that NFT or Bitcoin?

ChiBitCTy

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Yeah I think it is funny when I hear people saying things like this. More often than not those who are saying things like this have absolutely no clue what they are talking about and couldn't even tell you what the blockchain is. I don't pay much attention to people like this because in all reality there is very little chance they will ever change their mind because bitcoin goes past their level of knowledge, what they are willing to learn and their social and economical beliefs.

el kaka22

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Could someone explain to me why REALLY the tulip mania happened? I mean in order to understand if bitcoin is like tulip mania or basically like any other bubble back in the day, we need to understand why it happened.

I understand that tulips were scarce and that is why it costed a lot back in the day but we all know (at least know) that it is something you can take the seed and farm a lot more, you could have tulip farms as far as eye can see, why would it cost so much when it is known that it could be farmed in thousands? Did they not know it? Did people back in the day thought that tulip was just grown unexpected in some places and can't be farmed?

I mean bitcoin is valuable because it is a currency, you can't just get one bitcoin and then farm it to reach thousands, so why would it be any similar to tulip right now? We can only learn it when we understand tulip mania.

Betwrong

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Quote from: Timelord2067 on September 08, 2021, 09:10:47 PM

How does that fit in with (for example) Pokemon trading cards or similar? I'm the first to admit I also missed the NFT boat when it sailed. Is it a digital fingerprint or signature of the image that's embedded in the blockchain?

No, there's no such thing with Pokemon cards, but just like NFTs and legit cryptocurrencies they can't be forged, and that's what counts when you are paying big money for something: the thing must be unique, or be one of the few unique things. When that condition is fulfilled it doesn't make the thing valuable yet. Unique doesn't mean useful, let alone valuable.

One day all those mega expensive NFTs(and Pokemon cards) may become worthless, despite their uniqueness. This will never happen to Bitcoin because it has other than being "beauty is in the eye of the beholder" utilization.

V-t.Ester

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Think, after huge corporations invested in BTC, a lot of countries legalized it and even some countries started to use it together with national currency, you can finally breathe. It’s nothing to worry about: BTC will obviously not vanish and not dump to zero.
You’ve right. NFT right now really looks as “Tulip mania”. Future of NFT is bleak. It’s smth new and in trend now and no one knows what will be with NFT in several years. That’s why it attracts and disturbs at the same time. However, lots of traders liked such interesting and perspective investments. They feel themselves not only traders but collectors also. They are fond of collecting NFT. So probably NFT won’t vanish and will be popular for many years more like cryptokitties.

Silberman

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Quote from: LogitechMouse on September 11, 2021, 05:20:29 AM

Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

I'm a big fan of game in general and I know that NFT doesn't pertain only to games but other digital arts too. With what you said though, I agree with you that NFT will be the next one.
ICO, DeFi and now NFT. Many more in the future so just be ready.

People didn't accept paper money in the past that easily. Maybe it took decades for some merchants to accept it and it will be the same as Bitcoin and crypto. Bitcoin will be accepted in some parts and in some countries until the time comes that it will be accepted in the world, just like what happened to paper money.

Nocoiners?? Let them say what they want

. After all if they prove that they are all wrong they will just simply buy Bitcoin and keep silent.

Exactly, bitcoin is a revolutionary concept and things like that take time for people to accept, imagine the first person that came up with the idea of money, instead of exchanging products directly someone imagined a world in which you used a single unit of account and priced everything according to it, people of the time probably thought of this person as crazy and yet here we are and money is probably one of the most impressive concepts we have developed, bitcoin is the same but once people finally accept bitcoin is the future we will see bitcoin being used everywhere and by everyone.

LogitechMouse

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Quote from: Wind_FURY on September 06, 2021, 04:22:02 AM

There are many nocoiners that claim that Bitcoin is “Tulip Mania 2.0”, but it has been 10 years. How long must the protocol keep running before the rest of the world accepts that Bitcoin is not going anywhere. In fact, it opened a Pandora’s Box of new possbilities. BUT, I believe the next “Tulip Mania” for this bull cycle are, NFTs.

I'm a big fan of game in general and I know that NFT doesn't pertain only to games but other digital arts too. With what you said though, I agree with you that NFT will be the next one.
ICO, DeFi and now NFT. Many more in the future so just be ready.

People didn't accept paper money in the past that easily. Maybe it took decades for some merchants to accept it and it will be the same as Bitcoin and crypto. Bitcoin will be accepted in some parts and in some countries until the time comes that it will be accepted in the world, just like what happened to paper money.

Nocoiners?? Let them say what they want

. After all if they prove that they are all wrong they will just simply buy Bitcoin and keep silent.

so98nn

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Many thoughts pointing out NFT as the greatest proclamation in the near future. Although this does not seem to be the case if you study bitcoin properly. It took bitcoin almost a decade to reach hearts of peeps throughout the globe and the journey was not easy. So many regulations, unwanted bans, uplifting of the infra for miners and what not. I am not against NFT but if you think it is taking time for bitcoin (after a decade) then what’s so important about NFT that will make it acceptable all the way over bitcoin?

The scenario just does not work bitcoin against NFT, simply it’s idea to show bitcoin as failed asset which is not the case at all.

Topic: Tulip Mania 2.0 - page 3. (Read 636 times)