Bitcoin Forum

Bitcoin itself does not produce value, and the value we can see right now is "we think it's worth it". This reminds me of tulip bubbles. What are their differences?

The difference is that btc is a part of technology and can be accepted as storage of value. That couldn't be said about tulips, so these differences are fundamental. On the other side, there's quite a chance that sooner or later, btc will be de-throned.

The US dollar and all other currencies are tulips - countries print them on paper and put in banks by the TRILLIONS.

Did you know the US government is 22 trillion dollars in debt?  And the American people are another 12 trillion dollars in debt?  It is true.  Now THAT is a tulip. Just a matter of time before that whole disaster collapses.

Do you know what is not a tulip?  Food.  Water.  Farmland.  Clothing.  Firearms and ammo.  Friends and family.  Things like that.  What about Gold, silver, and bitcoin?

Most people in large cities have no idea about what is of true value in this world - ask Venezuelans, they know.  Their circumstance in on its way to YOU.

True Bitcoin seems like a tulip bubble when you look from the outside because Bitcoin price dropped and that is why many say that but it is recovering perfectly so definitely it will reach to it's correct price in the future but it might take a while to happen that and the only thing it needs is more time so traders should be more patient in these days and wait until it rises once again in the future

The United States also has 269 trillion dollars in assets, and a positive net worth of at least 123 trillion once all that debt is subtracted. Don't kid yourself into thinking the US is a poor debtor nation. It's the richest nation on earth by a hundred New York miles. https://en.wikipedia.org/wiki/Financial_position_of_the_United_States. Biggest real problem is that the wealth is poorly distributed, and too much is in the hands of the ultrawealthy. Another point on the national debt is the lion's share is owed to ourselves, only a small fraction is foreign, and a lot of it is even held by the US federal reserve so those debt payments are just a shell game - the federal reserve credits back the treasury the interest and of course the federal government taxes the debt interest it pays back to domestic holders.

The tulip's had literally no worth other than for collecting. In a lot of ways they're similar to something like fine art. Bitcoin has a utility which those tulip's did not. Both bubble but bitcoin can survive because no matter the value people will always use it, that can not be said for the tulips.

I completely agree with this.

The biggest difference between them is that the tulip can't create more value, but Bitcoin gives you unlimited space for imagination.
You should not compare  bitcoin with tulip，one is just a plant, the other is a technology, they are not comparable.
It would be more appropriate to Internet.

To know that value is also created out of nowhere on fiat currencies and pinning tulips and bitcoin down on this issue is plainly hypocritic. True that bitcoin don't have any value on its own, but then again people choose it to have some value at the end of the day. Same concept is applied in tulips and fiat currencies, and countless other normal paintings in this world. No body knows what "true value" of anything is even; we just give our best estimates based on data available and human sentiment on a certain object.

Perhaps I'm being vague, but seriously, what good does it do to compare tulip bubbles in bitcoin bubbles anyway?

The difference is that we understand why we do it. Bitcoin, unlike bubbles, gives a huge number of advantages that untie your hands as a citizen of the planet. An independent citizen. Also, unlike bubbles, you get real profit from thoughtful investments, provided that you are familiar with the economic theory and analysis of financial markets.