Bitcoin Forum

In 2012 BitCoin was about 10 bucks. The value has increased by more than one hundred since then, and gone up by 500% since the beginning of November.
Sounds like tulip bulbs from three hundreds years ago. History repeats after a few generations as nobody is around to share learning from the earlier episode. But I hope it isn't, yet ;)

Recent increase is quick and I would say too quick. But it will decrease, and then even go higher.

Price should be controlled :(

Hadn't heard the tulip analogy before. Thanks for sharing!

Tulips, Beanie Babies, Dollars can all be manufactured almost limitlessly. Bitcoin can't.

What do you mean exactly?
Offers are limited for tulips, dollars...

Tulip mania !!!!!!

I really dont think bitcoin will be a tulip mania. C'mon the people back then went crazy for a stupid tulip bud Who does that . With bitcoin it has intrensic value a utility in it.

NO Not another Tulip mania.

I really wonder:
what is the "intrensic" value of btc?


lol.
Some bits in a blockchain ::)

You can grow tulips easily, make bb, and print dollars, all relatively easily. There's no limit on how many of any of them you can have in total. There can only ever be 21 million bitcoin and they are very difficult to produce and getting more difficult. With the others they get easier to produce the more you create.

One is a limited resource (bitcoin) the others are reproducible with no real limits.

Bitcoin will spend nearly it's entire existence running away from mentions of "tulip mania".

Yes. It's also a pyramid and ponzi and a scam and lol it's just bits of code it doesn't even exist.

Jokes. It's not any of those things. It's a currency and it's rising in value because it's in demand. Somebody can't grow bitcoin.

People are incorrectly trying to treat Bitcoin as a commodity when it's a currency, the reason the BTC/USD price is so high is because there are so many dollars and so few Bitcoins to trade for them so the price is being pushed up further and further as demand grows.

I don't think Bitcoin is actually rising in value or falling I think it's staying exactly the same.

Gold isn't really that intrinsically valuable either. Neither were tally sticks. The value is in utility. Someone working abroad and sending money home sees the value of bitcoin. Try flying gold out of a country or cash.

You can't get as many tulip as you want.
And you can change the number of bitcoins at any time.


Maybe in the future, bitcoins will not have 8 digits but 12 or 15.

So far we've had 3 (or was it 4) major crashes and somehow managed to get to four figures

Unless bitcoins soon start getting used as a currency rather than a speculators dream it will likely crash sometime soon.

It's not likely to crash anytime soon....

The bankers actually like bitcoin, which surprised me at first.

They know they can buy it out in a second if they need to,

so they can control it and it's useful to them so far...

They could cause to crash and burn at anytime though...  :-[

I hate bankers...lol

Yes, but if it crashes, it will be quick (maybe even less than 1 hour).

I don't think the tulip analogy is all that accurate. The same argument would have seemingly been just as valid when it hit 260 earlier this year or 27 in 2011, yet Bitcoin continues to perform well. The price is a reflection of an increase of use and an increase in size of the Bitcoin network. I would hypothesize that there is a correlation between acceptance and size of the Bitcoin network and the price.

It is possible that it is overvalued at the moment, but equally valid is the argument that it is undervalued. It has attributes that make it far superior to traditional currencies in many respects which will lend to its value in the long term.

That argument is old and holds no tie to reality.

Bitcoin is a form of currency, plain and simple.

Because thats the only difference between tulips and bitcoins  ::)

What about Google as tulips (?)

Google had quick rise in value as well...

The first two are real and exist and the last is a worthless made-up magic invisible internet scam?

if you don't see the similarities, you are probably just living inside the bubble.

in fact, if i were to play devil's advocate.. i could easily say that bitcoin holds no tie to reality.

Did you heard about Casascius coins ?

http://tangiblecryptography.com/casascius_silver.jpeg

http://2.bp.blogspot.com/-iTpoXoCPJOo/T2oJ0GLRz0I/AAAAAAAAHhE/Vtp1wwtt5TM/s1600/%E2%82%AC10+Tulips+Fiver+gold+proof+coin_reverse.jpg

freshly minted tulip coins for you guys.

What exactly is a tulip refering to?!

https://en.wikipedia.org/wiki/Tulip_mania

I imagine that if the governments around the world actually got their acts together and strengthen their monetary policies and stopped the QE, bogus social spending, you might see a fall in the desire for Bitcoin.  However i believe that unlike the Tulip bubble there is a real need.  I think this is reflected in that the other safe haven Gold and silver is now on the decline.  Why would you put your money in Gold and silver when Bitcoins are far more liquid.

Tulip mania was fueled by outrageous demand with no limit to supply. Bitcoin is fueled by outrageous demand with a limited supply.

Right now the prices of the precious metals is being manipulated.

Once the dollar collapses, you are going to want to be holding on to on them.

Precious metals, guns, bullets, food, maybe bitcoin... Not necessarily in that order..lol

Haha, yeah. I was just joking ;)

I really like what you wrote here. There are more millionaires in this moment in time than there have ever been. which shows that there is more money to be made. it might not be the case that bitcoin is going up. just how fast fiat currencies are going down. This is a new world for everyone. with open source information, soon we will reach a point where the veils will be lifted and not much can be kept secret.