In fact, the Bitcoin and cryptocurrency bubbles have now exceeded even the extreme
tulip bubble of 1635 - 1636.
Historically, some of the frothiest bubbles have been relatively confined: the 17th - century
Dutch tulip bubble left little collateral damage beyond the Netherlands; the dotcom boom blew up Silicon Valley, but international stock markets rebounded relatively quickly.
The implication of Harari's argument3 is pretty hard to wrap one's head around.4 Take the term «
tulip bubble»: everyone knows it is in reference to a speculative mania that will end in a crash, even those like me — and now you — that have learned about what actually happened in the Netherlands in the winter of 1636.
Did you hear the one about
the tulip bubble?
As you might expect, the tulip is having a renaissance, or to be more precise, our shared myth of
the tulip bubble.
It happened in
the tulip bubble more than 300 years ago, and it happens in every bubble.
Their parents have told them it's
a tulip bubble.
The tulip bubble was a simple supply and demand issue as well.
The foundation of
the tulip bubble formed in the Netherlands was a direct result of overheated speculation from investors blinded by financial gains.
«Former minister and author Rhyu stated that cryptocurrencies are the 21st century's
tulip bubble.
The tulip bubble was short - term which disappeared and thus generates a odious comparison to peer - to - peer financial instruments.
If history is anything to go by,
the tulip bubble burst in February 1637 — not long after the Dutch created a futures market for buying bulbs in 1636 at the peak of tulip mania.
That being said, I do not like Bitcoin because I believe this pseudo-currency is replicating the Dutch
tulip bubble that finally popped in 1637.
This just lacks in logic, but then
the tulip bubble and all the other bubbles that followed were no different.
Dimon had sworn off discussing the cryptocurrency after making waves last month by saying Bitcoin was in a bubble that would eclipse the size of
the tulip bubble seen back in the 1600s.
«Calling Bitcoin
a tulip bubble is ridiculing the South Korean people.
Many outside observers will chalk up crypto as yet
another tulip bubble.
How it proceeds will determine if this technology matures into a major force for good — or whether it is just
another tulip bubble.
Did you hear the one about
the tulip bubble?
Additionally, while the comparisons with other bubbles (
the tulip bubble of Dutch fame, or the land bubble in the mid 19th century) the underlying Blockchain technology provides a basis for value in the Bitcoin ecosystem that is maintained by the consensus of the majority.
From
the tulip bubble of the 1600s to the Internet bubble only 15 years ago, the crashes are inevitable.
The tulip bubble was a simple supply and demand issue as well.