BITCOIN = TULIP BULB MANIA?

[hello_good_sir]

https://cointelegraph.com/news/bitcoin-tulip-mania-continues-as-bbc-journalist-calls-time-on-bubble
What are your thoughts on this? Will you sell bitcoins because some of the "financial" "Stocks" "experts" says that Bitcoin will just lead on collapse and nowadays bitcoin has been linked to tulip mania? OR do you think this is just a strategy for them to lower the amount of bitcoin so that they can buy bitcoin on lower amount?

IMHO, yes. I think that bitcoin is definitely overpriced right now.

It was overpriced at $2500, but i'm not sure why speculators decided to pump it up even further. Now we're entering the mania stage of the bubble. There is simply no sustainable way that anything, not even bitcoin, will be able to go up from less than $2500 to more than $4300 in just 1-2 weeks.

There will be a correction coming. Trust me.

Also i'm by no means a bitcoin hater. I completely disagree with the logic that bitcoin haters have. BTC isn't going to crash because it's worthless or it's a ponzi, it's going to crash because it has simply been overbought. I'm a long term bitcoin believer, i just think that currently the price is too artificial.

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[xypos]

I'd love to see these guys reactions a few years from now... Bitcoin is growing steadly along with many other icons popping off left and right. And even if it eventually fails, there'll be another coin in place to keep the cryptocurrency ideal going forward, no doubt about it in my mind.

I honestly think that they are correct. When you are in a bubble everything looks rosy. Bitcoin has a lot of uses and in my opinion will revolutionize the world and how the banking sector operates, but there is simply no reason for bitcoin to rise so sharply in such short periods of time.

We may well be in a bubble. I don't think that this is going to top out just yet, though. We'll probably break some more price barriers before it comes crashing down.

I would say though that this bubble is a lot better than the tulip bulb mania. At least bitcoin is something useful, and hasn't risen as much as tulip bulbs back in the days...

[The_Dark_Knight]

https://cointelegraph.com/news/bitcoin-tulip-mania-continues-as-bbc-journalist-calls-time-on-bubble
What are your thoughts on this? Will you sell bitcoins because some of the "financial" "Stocks" "experts" says that Bitcoin will just lead on collapse and nowadays bitcoin has been linked to tulip mania? OR do you think this is just a strategy for them to lower the amount of bitcoin so that they can buy bitcoin on lower amount?

The biggest difference is that Tulips do not fulfill any function, they were useless, whether you think bitcoin and its price is overvalued bitcoin fulfills a function, it is useful, also if people actually read about the tulip mania they will understand that the prices back then went up a lot more during that bubble.

[1Referee]

We may well be in a bubble. I don't think that this is going to top out just yet, though. We'll probably break some more price barriers before it comes crashing down.

If we had to believe various 'high level' speculators and other market analysts, the Bitcoin price has been in bubble territory at the time it broke through the $1000 level. In recent years there hasn't been any real moment where I considered the price to be at least close to a forming bubble. The only ever moment I legitimately considered the market to be in bubble mode, was back in 2013 when we experienced an all time high of nearly $1200. We had to thank MtGox's bots for their significant contribution back then. Currently, the price in my eyes is decently overbought (probably 25%), and for that reason I strongly believe it will correct soon.

[dalexc]

Short answer. Only answer: They don't know. We don't know. Bitcoin and other cryptocurrencies is embarking on new territory. Because of that it we are all either going to be very wealthy or very broke. That's life. You take your chances and live with the results.

[Wilhelm]

THIS THREAD AGAIN!!!

Tulip mania was one bubble and crash in a few months. (Nov. 1636 - May 1637)

Bitcoin has proven to withstand multiple bubbles and dips.
Initially people had a point with the comparison but that is no longer the case.

So the answer is NO

[The_Dark_Knight]

Bitcoin is a limited supply, you can grow more tulips.

This, bitcoin has a very limited supply and that is never going to change, the 21 million bitcoin limit is probably one of the best things of bitcoin, despite its technology the fact that the supply is limited makes  all the coins more valuable, tulips in the other hand are just a useless plant with an almost unlimited supply.

[iamTom123]

You guys should read about past bubbles. If you did, you'd realize the words and behaviors we're seeing are very, very much bubble matrtial. 

Read about the South Sea bubble.  Look at the ridiculous business plans they were coming up with.  Vety similar to these ICOs and altcoins.  Don't dismiss this criticism so readily.

Yes, there is always that possibility of a bubble and no investment medium is immune on that. However, to compare Bitcoin to the tulip bulb...that is something illogical. Of course, tulip bulb mania was just a fad because it had no intrinsic value and it was just a passing trend. Now, can we the same thing with Bitcoin? I guess there is a need for someone who can be thinking that way to search more about Bitcoin using Google.

The reason why we have some price corrections from time to time is precisely to avoid a bib bubble that can do big damage to Bitcoin. Now here is the thing: There are a lot of people who are just waiting for a dip in Bitcoin value so they can buy Bitcoin cheaper. Again, can you say the same thing happened to that tulip bulb again and again?

Bitcoin has already come a long way and to compare it to the tulip bulb mania is quite an insulting. Of course, people who are saying so are actually people who are not really experts in Bitcoin though they are trying to convince that they are. Maybe these people are the real bubbles...bubble-headed!

[KonstantinosM]

No, bitcoin is not in a bubble. Bitcoin is in its infancy.


Just read the white paper. Bitcoin was intended as an alternative to third party financial institutions for casual transactions.


Most people don't know anything about bitcoin or its importance.


Until bitcoin gets mainstream acceptance we'll be getting the tired old FUD served left and right.

Bitcoin drives people manic because it's awesome, not because it's a tulip.

Other things that drove people into mania: Suddenly becoming rich, becoming free, escaping jail, proving media figures are wearing the emperor's new clothes.


Most journo's are clickbait ho-ho-hoes.

[faaty]

I definitely believe that ICOs are bubble. ICO is a good project for well designed projects but there are lots of scam ICOs out there. We need to be cautious and careful while investing in ICOs

However Bitcoin is not tulip. This is an early adapter hater slogan. This is so ridiculous. If you do not understand the concept and how the world is changing you can say ridiculous things like that

[tokeweed]

https://cointelegraph.com/news/bitcoin-tulip-mania-continues-as-bbc-journalist-calls-time-on-bubble
What are your thoughts on this? Will you sell bitcoins because some of the "financial" "Stocks" "experts" says that Bitcoin will just lead on collapse and nowadays bitcoin has been linked to tulip mania? OR do you think this is just a strategy for them to lower the amount of bitcoin so that they can buy bitcoin on lower amount?

Sure they can say that.  But this will be the biggest and craziest 'bubble' they will see yet.  If you think this is the peak, then go sell your coins now.  I know some people would be more than happy to buy them from you.  We are nowhere near the real  BTC bubble stage yet.

[trackermut]

Just take a look at where the reporter came from the BBC ! an organization  that over the last few years has been proven to rotten to the core corrupt and morally bankrupt. The once pride of British journalism/media in the UK and around the world has fallen a long way since only fools and horses. More Fud From the BBC elites protecting the old boy network read with a spade full of salt. The BBC is now no more impartial than kwakduck.

[NUFCrichard]

Bitcoins are not Tulips, this much is true. You can't grow more and the hype is also more subdued than the tulip mania.

The current price increase is somewhat mania like. People only see that the price can go up, I guess because most posters here now have only ever seen the price go up.  They don't remember the year long fall after the last peak/bubble.

I read a few other forums, and the general consensus is that Bitcoin is in a huge bubble now. It has quadrupled in value in the last 7 months or so, this is a huge increase without too many major increases in usage, or improvements to Bitcoin in this time.  I think some of the bubble talk stems from jealousy, but it is always worthwhile to take a step back, look at the charts and realise that the price might not always continue to rise.

You never know that it is a bubble, until it pops. I think that stocks and bonds are in a bubble, but that is a government supported bubble. I'll let you know if Bitcoin is in a bubble in 6 months time!

[stunvn]

You guys should read about past bubbles. If you did, you'd realize the words and behaviors we're seeing are very, very much bubble matrtial. 

Read about the South Sea bubble.  Look at the ridiculous business plans they were coming up with.  Vety similar to these ICOs and altcoins.  Don't dismiss this criticism so readily.

Finally! This is what I am thinking right now.


Everyone shouldn't compare bitcoin with Tulip. Because it's nonsense.

South Sea Bubbles is the only one that matches this battle.

Project to turn seawater into purified water
Extract silver from lead
Develop a nonstop moving wheel
A weapon shoots 2 types bullet at the same time.
Product sun power from a cucumber.

LMAO!!!

Sounds familiar with those blockchain projects nowaday?



Everyone think Bitcoin can't die? they are wrong.

Miners! Miners are manipulating both bitcoin and bitcoin cash. 1 will die so other can survive.
Everything soon will collapse. Prepare for that moment. It won't happen tomorrow. It will soon.

They want bitcoin/BCcash for themselves. They will do anything to beat their opponent.

[maku]

THIS THREAD AGAIN!!!

Tulip mania was one bubble and crash in a few months. (Nov. 1636 - May 1637)

Bitcoin has proven to withstand multiple bubbles and dips.
Initially people had a point with the comparison but that is no longer the case.

So the answer is NO

It is all in our head, Bitcoin is questioned every time by its opponents that the whole economy of this system if fluid, not stable and uncontrollable.
People can't imagine the resolution of having a decentralized system not backed by any super power, central or international bank.
Bitcoin = people, so if only we will have faith in the system Bitcoin will survive no matter what.

[Torque]

Most people have absolutely no clue how stocks in the stock market work.

Before a company "IPOs", basically a launch valuation is determined by (get this) the angel investors themselves. The launch valuation is based on some future market valuation of the company that may or may not ever happen. The stock is basically "insta-mined" and the lions share (99%) of the shares go into the hands of the owners, employees, and original investors of the company. The remaining tiny float hits the exchange market. From there, these shares get mega-leveraged up and then robo-traded by bots. That's why the needle on most large cap stocks barely moves over a decade or two.

You have to then pay market value for the stock, whether or not you agree with its initial valuation. This in turn makes the original investors instant paper millionaires or in some cases billionaires. Lucky for you, they have a lock up period and can't just instantly dump on your head. But they will eventually sell their shares over time.

The value of the stock you have bought can decrease if the company "issues" more stock shares. This is called dilution. I believe this also happens covertly when huge Wall Street and banking entities and investors want to get more exposure to a stock. The issuer can "print" more on the down low and the public never even hears about it.

When you buy a company stock, you are not getting access to the actual stock. You are buying from a pool of shares allocated to market makers. The stock is not something that you can even "own" directly. You are basically leasing an IOU from a market maker. You will never get access to a stock market certificate of ownership. Ever. Even if you tried.

Market makers are free to let other funds "borrow" their (and thus your) stocks as collateral for other investments(!) The stocks you supposedly have a claim to can be hypothecated and re-hypothecated over and over again. Think fractional reserve for stocks. This is extremely dangerous and irresponsible, but all perfectly legal.

When multiple companies have claim to the same exact shares of stock, these are called "phantom shares." This is completely illegal, but is happening a lot more than people know. It is common knowledge in the Wall Street world though.

When your stock that you supposedly own crashes, and you have stops set, guess who gets paid their money first on the way down? Not you little guppy.

If the funds that "borrowed" your stock have a sudden liquidity crisis, guess who takes the haircut first to pay back the losses? Yes, a bail-in can happen with your stock portfolio, and it is all perfectly legal. Go read the fine print on your broker agreement. It is all there.

This is why the Bitcoin market may actually be the most honest and transparent market on the planet right now.

Now the ICO token market. Yeah... that is another story... a complete scam... the tulip bulb analogy fits there.

[The_Dark_Knight]

You guys should read about past bubbles. If you did, you'd realize the words and behaviors we're seeing are very, very much bubble matrtial. 

Read about the South Sea bubble.  Look at the ridiculous business plans they were coming up with.  Vety similar to these ICOs and altcoins.  Don't dismiss this criticism so readily.

Finally! This is what I am thinking right now.


Everyone shouldn't compare bitcoin with Tulip. Because it's nonsense.

South Sea Bubbles is the only one that matches this battle.

Project to turn seawater into purified water
Extract silver from lead
Develop a nonstop moving wheel
A weapon shoots 2 types bullet at the same time.
Product sun power from a cucumber.

LMAO!!!

Sounds familiar with those blockchain projects nowaday?



Everyone think Bitcoin can't die? they are wrong.

Miners! Miners are manipulating both bitcoin and bitcoin cash. 1 will die so other can survive.
Everything soon will collapse. Prepare for that moment. It won't happen tomorrow. It will soon.

They want bitcoin/BCcash for themselves. They will do anything to beat their opponent.

The miners are very powerful and influential but even them have limits to their powers they created bitcoin cash precisely because they were unable to oppose the strength of the developers and the community since most of us wanted segwit activated then that meant that we supported the developers and not the miners.

[gembitz]

Most people have absolutely no clue how stocks in the stock market work.

Before a company "IPOs", basically a launch valuation is determined by (get this) the angel investors themselves. The launch valuation is based on some future market valuation of the company that may or may not ever happen. The stock is basically "insta-mined" and the lions share (99%) of the shares go into the hands of the owners, employees, and original investors of the company. The remaining tiny float hits the exchange market. From there, these shares get mega-leveraged up and then robo-traded by bots. That's why the needle on most large cap stocks barely moves over a decade or two.

You have to then pay market value for the stock, whether or not you agree with its initial valuation. This in turn makes the original investors instant paper millionaires or in some cases billionaires. Lucky for you, they have a lock up period and can't just instantly dump on your head. But they will eventually sell their shares over time.

The value of the stock you have bought can decrease if the company "issues" more stock shares. This is called dilution. I believe this also happens covertly when huge Wall Street and banking entities and investors want to get more exposure to a stock. The issuer can "print" more on the down low and the public never even hears about it.

When you buy a company stock, you are not getting access to the actual stock. You are buying from a pool of shares allocated to market makers. The stock is not something that you can even "own" directly. You are basically leasing an IOU from a market maker. You will never get access to a stock market certificate of ownership. Ever. Even if you tried.

Market makers are free to let other funds "borrow" their (and thus your) stocks as collateral for other investments(!) The stocks you supposedly have a claim to can be hypothecated and re-hypothecated over and over again. Think fractional reserve for stocks. This is extremely dangerous and irresponsible, but all perfectly legal.

When multiple companies have claim to the same exact shares of stock, these are called "phantom shares." This is completely illegal, but is happening a lot more than people know. It is common knowledge in the Wall Street world though.

When your stock that you supposedly own crashes, and you have stops set, guess who gets paid their money first on the way down? Not you little guppy.

If the funds that "borrowed" your stock have a sudden liquidity crisis, guess who takes the haircut first to pay back the losses? Yes, a bail-in can happen with your stock portfolio, and it is all perfectly legal. Go read the fine print on your broker agreement. It is all there.

This is why the Bitcoin market may actually be the most honest and transparent market on the planet right now.

Now the ICO token market. Yeah... that is another story... a complete scam... the tulip bulb analogy fits there.

it depends on the kind of stock ~ shell plays are the best imo peeps take old cusips and put a real existing company with assets into it = instant moon $$$ weeeee

https://www.investopedia.com/articles/stocks/09/introduction-reverse-mergers.asp?lgl=af-top-textlink-baseline