It's not a myth. There was tulip mania. It just wasn't as widespread as people made it out to be. But, yes, people did spend exorbitant amounts of money on tulip bulbs until no one in the game wanted to anymore.
No it wasn't and even if parts of it are apocryphal it is a cautionary tale of "investing" in some make money fast scheme just because everyone else is without looking at the fundamentals. If you don't like Tulipmania, then refer to the South Sea Bubble, the Dotcom Bubble or basically any inflationary investment scheme / scam that eventually collapses when reality intervenes.
And in the case of Bitcoin it's not like this isn't obvious - it has inflated and collapsed so many times that it actually raises red flags for deliberate market manipulation, insider trading and fraud.
Bitcoin serves only a few purposes. Primarily this is a way to transfer money without government agents knowing, which is very useful for the criminal enterprises. And to scratch that itch for anti-government ultra libertarians who have developed home grown alternative economic theories, which is probably the most minor segment but it's also a highly vocal one. In the middle are poeple who just want something new to "invest" in (ie, throw money at things and see if it sticks). Coinbase is trying to get m
The design isn't "optimal". If I wanted to buy the equivalent of $5 game I'd be paying $30 in transaction fees. So nobody does because it's fucking insane. On top of that the currency is so ridiculously volatile that it yo-yos by double digits. It would hardly be worth using this shit as a currency in any lawful situation, but of course it's useful for criminal situations like money laundering, scams and so on. And of course those idiots who "invest" in a currency that nobody uses as a currency and get burn
Anyone else smelling Tulips? (Score:5, Insightful)
Re:Anyone else smelling Tulips? (Score:3)
You know that's mostly a myth, right?
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"You know that's mostly a myth, right?"
Mostly?
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Like Unicorns aren't real, but horses are.
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https://www.youtube.com/watch?... [youtube.com]
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Mostly? What most part of the tulip mania was a myth?
Re:Anyone else smelling Tulips? (Score:5, Interesting)
Re:Anyone else smelling Tulips? (Score:5, Insightful)
And in the case of Bitcoin it's not like this isn't obvious - it has inflated and collapsed so many times that it actually raises red flags for deliberate market manipulation, insider trading and fraud.
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Bitcoin serves only a few purposes. Primarily this is a way to transfer money without government agents knowing, which is very useful for the criminal enterprises. And to scratch that itch for anti-government ultra libertarians who have developed home grown alternative economic theories, which is probably the most minor segment but it's also a highly vocal one. In the middle are poeple who just want something new to "invest" in (ie, throw money at things and see if it sticks). Coinbase is trying to get m
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"You know that's mostly a myth, right?"
Mostly?
Like Unicorns aren't real, but horses are.
I was just wondering if you had anything to back up your unsubstantiated claim that Tulip mania* was mostly a myth.
* https://en.wikipedia.org/wiki/ [wikipedia.org]
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"You know that's mostly a myth, right?"
Mostly?
Like Unicorns aren't real, but horses are.
I was just wondering if you had anything to back up your unsubstantiated claim that Tulip mania* was mostly a myth.
* https://en.wikipedia.org/wiki/ [wikipedia.org]
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Thanks for admitting you are wrong.