Tulip comparisons looking true now

[ThirdPrize2]

Can you deny it?  Everyone who has brought in the last year has lost money. 

[mk4]

You're comparing tulips, a mere plant, to bitcoin, a new asset class using a new kind of technology that could potentially disrupt banks, international settlements, and or fiat money in general(depending on your views/opinions). Think about it clearly, on what you're comparing here.

[franky1]

Can you deny it?  Everyone who has brought in the last year has lost money.  

centuries later you can still buy tulips

people that bought houses before 2008 were at a loss after..
... years later you can still buy houses

price drama is never a gaurantee always upward motion.
as mr miagi told danielson as part of his karate and economy and life lessons while painting a fense
"up, down, up down".
you will get a slap on wrist if you think only "up up up" works best

economy is like the waves. or a crane. up AND down
so go to a beach stand on a wooden post and while looking at the ocean and doing the crane position. you will learn

you cant stay up for long, the waves cant stay up. you will fall and have to rebalance. the waves will crash and return

so just enjoy and learn from each event and train your mind how to cope with it.

[ThirdPrize2]

... that could potentially disrupt banks, international settlements, and or fiat money in general ...

I mean, LOTS of people invested LOTS of money at ridiculous prices in something that had no intrinsic value.  No one this year brought it to disrupt banks or send money overseas.  Even if they did, they would have converted it back straight away.  People just saw $$$ and thought "I want some of that".
 

[taguig]

Can you deny it?  Everyone who has brought in the last year has lost money. 

The comparison is very far, the technology brought by bitcoin is here to stay and will change the world, it's a temporary setback and definitely, Bitcoin will come back with a vengeance, for now, we should just watch and see what's going to happen next year.

[sorrysteve1]

The tulip bubble is nothing alike the bitcoin bubble, firstly tulip bulbs are not finite, more can easily be produced with time. Secondly they did not offer anything in terms of utility or innovation. The bubble lasted only a short time, BTC has already been around for over 10 years now.

[khufuking]

 People just saw $$$ and thought "I want some of that".

That does not change the fact that Bitcoin and the technology it offers are here to stay, of course when there is $$ to be made there will be people looking and trying everything to collect this $$ it is a common thing in everything in life.

I really don't think that we can compare Bitcoin to tulip bubble, Bitcoin came up with a new technology that even the people that hate Bitcoin can't deny it. Your comparison is not valid mate.

[davis196]

It's not about bitcoin,tulips or any other product,currency or asset.It's about how the market reacts to seratin situations.When you have lots of greedy people,that want big profits fast+a sertain asset that can be traded+scarcity you get a market price bubble.That's all...

[mk4]

No one this year brought it to disrupt banks or send money overseas.  Even if they did, they would have converted it back straight away.  People just saw $$$ and thought "I want some of that".

So it didn't disrupt banks this year, so does it automatically mean bitcoin couldn't do that, ever? It will take time for people to adopt bitcoin, no one just really knows when, it might be in 5 years, a few decades, heck, it might not even be in our lifetime.

Even if they did, they would have converted it back straight away.  People just saw $$$ and thought "I want some of that".

Indeed this is what's happening right now. People convert back to fiat because bitcoin is still too volatile. It will take time for bitcoin to get to a stable price. And yes, I'm using "it will take time" a lot; because don't expect something so new to be ready for global adoption so quick.

I'm not going to disagree about people wanting to make money by speculating with bitcoin. Bitcoin is indeed mainly a speculative investment right now.

[Slow death]

Can you deny it?  Everyone who has brought in the last year has lost money.

You had a project related to bitcoin:

Wanna show your love of Bitcoin in a fashionable way?  Then check out my shop.

https://www.cafepress.com/RedFiveSoftware

Two designs at the moment. 

What do you think?

Say you're a shop owner and you accept BTC.  Do you keep it as BTC or convert it to your local currency?  If you keep it as BTC, then this year would have bankrupted you as your working capital went down 80% in real value.  If you convert it to USD/GBP then you are probably using some 3rd party payment system where you don't even know/care it's BTC.  It is just another currency to you.  

Out of those two options, which is best?

It's nothing to do with the BCH fork, or BAKKT, or the ghost of Satoshi. 

Watch the news.  Stocks and shares are tumbling as well.  US and China worries are affecting the stock market, and the same people selling there are selling here.  What is the point of being decentralised if "big money" still owns your ass?  It's a joke.  Crypto is just another column on a "profit & loss" spreadsheet somewhere.

My prediction?  Back to $600, the price before the last big pump.  That will wipe out most ICOs and AltCoins as they will be worth absolutely nothing.  You can also say goodbye to most of the big money investments in trading platforms and exchanges.

I suppose you also lost money with that big fall, but you're really going to lose it if you sell with losses. I read a good article today

Why Bakkt and Nasdaq Are Betting on Bitcoin Futures in 2019

these guys know that the price in the future will be very high so they are betting on bitcoin and they entering the crypto market will be able to give more legitimacy so that governments legalize bitcoin so we can use it as a means of payment worldwide. currently bitcoin does not have much use and has high volatlidade because still is a very small market that can be manipulated easily.

[dewildance]

Can you deny it?  Everyone who has brought in the last year has lost money. 

For just now! Market cycle is running perfectly. It has dropped and rised more than one times. It will be back again we all believe in that rise. Don't judge now and don't judge with 2017's condition. You should think from 2009 to 2019. Then you may see the big picture

[marjil]

Can you deny it?  Everyone who has brought in the last year has lost money. 

The comparison is very far, the technology brought by bitcoin is here to stay and will change the world, it's a temporary setback and definitely, Bitcoin will come back with a vengeance, for now, we should just watch and see what's going to happen next year.

I agree that the technology is here to stay but I think people need to separate that out from the underlying coins. The technology being useful and a major change for the future does not necessarily translate to the coins having the same disruption.

[mu_enrico]

These few points instantly came to my mind:
- Tulip is still valuable to date;
- Tulip supply can be unlimited --yes it still takes land to grow, but you know what I mean-- meanwhile, bitcoin supply is ~21 million;
- Tulip is a bad unit of account, medium of exchange, and store of value; etc.

However, if you argue about the bubble, then all assets experience that. Ever heard of the housing bubble, gold bubble, stocks bubble, etc.?

[mindrust]

Can you deny it?  Everyone who has brought in the last year has lost money. 

That's retarded.

Everybody who  bought in 2014 also lost money... till they don't in 2017.

1 bitcoin still equals to 1 bitcoin. Nothing is lost.

[KingScorpio]

Can you deny it?  Everyone who has brought in the last year has lost money. 

well i said that a loooong time ago in this forum

[squatter]

Can you deny it?  Everyone who has brought in the last year has lost money. 

When the price is trading below $100 and we're headed to zero, I might be inclined to agree. It's way too early to make that assumption.

You're comparing tulips, a mere plant, to bitcoin, a new asset class using a new kind of technology that could potentially disrupt banks, international settlements, and or fiat money in general(depending on your views/opinions). Think about it clearly, on what you're comparing here.

If Bitcoin goes to zero, he's right. The tulip analogy regards market speculation, not underlying utility. The technology itself has no relevance to this question -- it's completely up to the market. There's no guarantee that Bitcoin will become adopted by the masses, nor that usage and demand won't drop to nil. If the latter happens, it will have been a bubble asset alongside tulips.

[absurde]

In my opinion it is not a tulip buble or something, this is the nature of cryptocurrency market, because this mrket still unpredictable and unstable, if the regulations comes true, still time to get profit money.

[dothebeats]

Ahhh yes, the nostalgia of people shouting 'bitcoin is the same as the tulip mania' comes to me from 2014 with their regards. No one can deny it, but no one can prove it either. Different markets and things that saw a massive increase in price may have similarities on how they rose and fell, but bitcoin has been doing its thing for years now, with a seemingly ad infinitum on-off of price cycles. If this was similar to the tulip bubble, bitcoin should have been dead since 2011, but no, big names and businesses are still into bitcoin after all the ups and downs.

[capitan_rocotan]

YES! The next step is a smooth rise in value. Then everything will be repeated again and again. I knew that bitcoin should have fallen when it was at its peak - and that’s what happened. Now I think that soon he should get up the other way. let's see what will happen next!

[AGD]

This one sold for 200.000$ in 2005