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> My bet is that the whole thing ends up being a tax on people who've forgotten their 17th century Dutch history. Tulip Mania lasted 6 months
by LAMike 8y ago
> My bet is that the whole thing ends up being a tax on people who've forgotten their 17th century Dutch history.
Tulip Mania lasted 6 months
- bonesss 8y agoI have a sneaking suspicion that if tulips allowed masses of investors in less-than-open markets around the world to stash/protect assets from their overbearing governments, as well as facilitate the purchase of AK47s and money laundering, that the online tulip trade would be ongoing. Fundamentally: people aren't buying BTC because online coins are pretty, they're investing in an alternative distribution model whose value is 'fixed' by willing parties on the other side who also rely on that distribution model. Yes, it is the Tinkerbell Effect, but a Tinkerbell Effect backed by centuries old markets of surprising strength (weapons and drugs, just to start with). The value isn't the thing being exchanged, it's the ability to exchange.