Tulip Economics Do Not Apply to Bitcoin. The Tulip Mania Hype. If you pay attention to the mainstream media, you have likely heard the term Tulip Mania in close connection with our beloved, bullish Bitcoin. The crypto community is abuzz with this goofy name, and it sounds almost as alarming as the formidable swine flu or worse yet the mad cow Bitcoin: A Tulip Mania of 21st Century. Bitcoin was in popular demand. The outbreak of Wanna Cry virus in May 2016 tremendously contributed to the popularity of Bitcoin. Hackers demanded their New bitcoin production decreases and trends toward zero which is the exact opposite of tulip mania. To summarize, tulip mania was mathematically unsustainable because tulip production grew exponentially while tulip consumption was limited by the total human population size. Bitcoin Vs Tulips. Close. 776. Posted by 1 year ago. Archived. Bitcoin Vs Tulips. 191 comments. share. save hide report. 91% Upvoted. Charts do not compare at all. Tulip mania lasted 3 years and after one bubble it was done. Bitcoin mania has been going on for 10 years and we have seen 4-5 bubbles so far. One month ago, a chart from Convoy Investments went viral for showing that among all of the world's most famous asset bubbles, bitcoin was only lagging the infamous 17th century "Tulip Mania.". One month later, the price of bitcoin has exploded even higher, and so it is time to refresh where in the global bubble race bitcoin now stands, and also whether it has finally surpassed "Tulips." You can't compare Bitcoin to other assets - but when you do, it looks like a bubble 11 February 2018. These days, as always, the mainstream news is full of Bitcoin is a bubble opinion pieces, argued from the outside looking in. The rationale usually comes down to Bitcoin having no intrinsic value (it does, fiat doesn't) or a contrived interpretation of whatever Bitcoin's price has done lately. The similarity between the bitcoin mania of today and the tulip mania of yesteryear are too striking for my comfort. This doesn't mean that I doubt the viability of bitcoin, just that these current prices are unsupported by anything other than an irrational market of hype and press releases.
Digital Tulips: The Bitcoin Mania Gary North - December 03, 2013. Remnant Review. In 1637, the tulip bulb investment mania peaked in Holland. It had made some people rich. Now it was about to make others poor. Tulip mania reached its peak during the winter of 1636-37, when some bulbs were changing hands ten times in a day. The zenith came Hanke also slammed Bitcoin for being 'extremely volatile' and 'unreliable.' When the top cryptocurrency was being devoured by the bears in late 2018, he compared BTC to the infamous Tulip mania and called it 'a fool's game.' However, Bitcoin's price moves have been relatively tame in 2020, which might mean that the coin is finally maturing.
10 Sep 2013 James Narron and David Skeie As Mike Dash notes in his well-researched and gripping Tulipomania, tulips are native to central Asia and Bitcoin vs history's biggest bubbles: They never end well . Is Bitcoin just 'Tulip Mania', Take Two? Is the bitcoin boom about to turn into one of history's biggest busts?
Generally considered to be the first recorded financial bubble, the Tulip Mania of 1636-1637 was an episode in which tulip bulb prices were propelled by speculators to incredible heights before collapsing and plunging the Dutch economy into a severe crisis that lasted for many years. Events Leading Up to the Tulip Bulb Bubble
The Bitcoin Bubble Explained to a Couple of Four-Year Old Twins. The person who has studied Tulip mania most is Anne Goldgar, author of the book Tulipmania. If bitcoin drops to $8,000, as Mike Novogratz predicts, will it be "game over," or will it be a screaming buy? I encourage you to think about the thousands of hedge funds and ECB's Constancio compares Bitcoin to Dutch tulip mania. ECB's Constancio compares Bitcoin to Dutch tulip mania. Breaking News. charts and buy/sell signals contained within this website. Please