Bitcoin starting to look more and more like TULIP BULBS of 1600s

[Xiaoxiao]

During the 1600s people were dying for these bulbs.  Flower shops started popping up everywhere just like miners today.  If the gov't ever start legalizing gambling and drugs, isn't bitcoin/ alternate coin just absolutely doomed to death?

I mean, BTC gained momentum because it is a better system than fiat and easier to carry around than commodities, however, if the gov't fall and a better regime takes over, isn't bitcoin just doomed to death as well? 

Starting to look more and more like Tulipmania to me...

[Ludi]

During the 1600s people were dying for these bulbs.  Flower shops started popping up everywhere just like miners today.  If the gov't ever start legalizing gambling and drugs, isn't bitcoin/ alternate coin just absolutely doomed to death

I don't get or see your point here. No, it isn't like Tuplimania. How would the government legalizing gambling or drugs 'doom bitcoin to death'? Isn't gambling already legal in most places anyway?

[Xiaoxiao]

During the 1600s people were dying for these bulbs.  Flower shops started popping up everywhere just like miners today.  If the gov't ever start legalizing gambling and drugs, isn't bitcoin/ alternate coin just absolutely doomed to death

I don't get or see your point here. No, it isn't like Tuplimania. How would the government legalizing gambling or drugs 'doom bitcoin to death'? Isn't gambling already legal in most places anyway?

Not online gambling.  Online gambling is illegal/heavily regulated in most places. 

Bitcoin seems like the modern day tulip mania.  Visa is so much more convenient than cryptos.  We asked for businesses to start accepting BTC's.  Now that it has, btc's potential is being revealed, and it is what it is; not really limited which is an illusion because it can be broken down to unlimited pieces; not really that anonymous because everything can be tracked; and not really that easily transferred because of problems with blockchain/double spending...

[hayek]

So because Bitcoin makes it easier to spend money on the internet and that opens the doors to more online gambling websites... tulips

Did I read your non-point correctly?

[iluvpie60]

During the 1600s people were dying for these bulbs.  Flower shops started popping up everywhere just like miners today.  If the gov't ever start legalizing gambling and drugs, isn't bitcoin/ alternate coin just absolutely doomed to death?

I mean, BTC gained momentum because it is a better system than fiat and easier to carry around than commodities, however, if the gov't fall and a better regime takes over, isn't bitcoin just doomed to death as well? 

Starting to look more and more like Tulipmania to me...

look this has been discussed a lot and it gets annoying. the reason the tulips crashed hard and no one wanted them anymore was because at some point it became like gold trading. people didn't physically have the tulips they had a piece of paper saying they owned X amount of Y tulips and BLAH.

bitcoina ddresses clearly state that X addresses owns Y of bitcoin, but bitcoins are useful for spending on lots of things and that isn't going to change. tulips were all about being rare color and texture and being raised at X farm and were worth Y because of Z and also due to A and B and C and D that this tulip was better than E.

bitcoin has nothing to do with that. Bitcoin is X address owns Y bitcoin and can be used to buy Z. its not more complicated than that on the buy/sell side.

[vector.iso]

2012 called, it wants back your comparison of bitcoin to tulipmania

[notbatman]

Tulips are a multi-billion dollar industry, what are you guys smoking?

[R2D221]

Also, tulips can die.

[Dr. Pepper]

It's really not like Tulipmania. Completely different ideas. Might as well compare bitcoin to pogs and pokemon cards as well.

During the 1600s people were dying for these bulbs.  Flower shops started popping up everywhere just like miners today.  If the gov't ever start legalizing gambling and drugs, isn't bitcoin/ alternate coin just absolutely doomed to death

I don't get or see your point here. No, it isn't like Tuplimania. How would the government legalizing gambling or drugs 'doom bitcoin to death'? Isn't gambling already legal in most places anyway?

Not online gambling.  Online gambling is illegal/heavily regulated in most places. 

Online gambling isnt where i live. What country are you in? Saudi Arabia?

[Verse]

I think you meant to post this back in December 2013. The price charts have been "stable" in the US$400-600 range for the past 6 months.

I'll have someone fetch you the time machine.

[ChuckBuck]

No no no, not Tulips, you mean Nigerian Princes.  I never got an email about Tulips, only a young fellow from Nigeria that wanted me to wire him some coins as an advance, before he hooked me up with more coin later.  That Nigerian prince is the bomb!  

Worse case compare BTC to magic beans, as they can magically create a giant beanstalk where after climbing it you can get a bag of gold after trading in your cow or home mortgage.

[SOAD]

Are you really trying to compare flower bulbs to an online digital currency and payment network?  They're not comparable at all.

Tulips are a multi-billion dollar industry, what are you guys smoking?

 

2012 called, it wants back your comparison of bitcoin to tulipmania

   I lold.

[minerpumpkin]

Ah well the good old tulip accusation... Yeah haven't seen that in a while. The chart in your picture doesn't look like the tulip bubble at all. Apart from that, Bitcoins can't be reproduced arbitrarily and actually can be used to transact value, which tulip bulbs can't really do, you know?

[Marlo Stanfield]

Haha, this is one of the oldest criticisms of Bitcoin. People have been attempting to compare Bitcoin to the Tulip bubble since probably around 2010. Funny to see it pop up again in 2014 when I can go buy a computer with BTC on dell.com.

[RodeoX]

Are tulip bulbs the fastest, cheapest, and most secure way to pay anyone on the planet?

[serejandmyself]

Are tulip bulbs the fastest, cheapest, and most secure way to pay anyone on the planet?

good point there

[Phrenico]

not really limited which is an illusion because it can be broken down to unlimited pieces

Is gold not limited because it can be divided into atoms?

[franky1]

the tulip era failed because people began making unlimited amount of tulips. i think the OP doesnt realise what deflation is or the bitcoin limit.

oh well if he has lost faith in bitcoin he should just hand them to a charity like seans outpost, and move on with his life

[spazzdla]

... except the part where the price didn't go from 1200 to zero in a month.. You know...  it's just 100% different but okay.

[piramida]

Date Registered:   May 29, 2011, 04:45:07 AM

I have difficulty believing that someone who is supposedly here since 2011 didn't spend five minutes to educate themselves. So either a purchased account or someone who didn't manage to understand anything about bitcoin in 3.5 years, wow! You are surely a slow learner.

Or maybe just a child? This "gov'ts fail and better regime takes over" kinda implies extreme naivety.

Here, I'll spell out for you:
bitcoin is not tulips because bitcoins can't be faked
bitcoin is not tulips because production is limited by design
bitcoin is not tulips because bitcoin price goes both up and down periodically
bitcoin is not tulips because bitcoin has usefulness and actual utility beyond pure beauty
bitcoin is not tulips because once you have bitcoin, you can't make several of it just by sticking it into the ground
bitcoin is not tulips because bitcoin is also money, financial ledger, identity system and much more beyond just commodity

ok last, the most important one: just because two things have one attribute out of hundreds in common, does not mean one looks the same as the other. Orange is not the same as Sun, although both look round and orange. You have to consider *all* the properties of an object when making a similarity statement, or it sounds rather foolish.