3 ms·

I think what GP's trying to say is maybe it's time to retire the tulip analogy, and per your own point, maybe it's time to start referring to the Bitcoin bubble

• braythwayt 8y ago
  This comes down to deciding whether mentioning "Tulips" is a memorable shorthand for discussing all kinds of bubbles, or if we are attempting to use tulips as a model that we can reason from ("If it's like tulips, then since tulips X, we can expect Bitcoin to also X"). Personally, I take all mentions of Tulip Mania as a kind of memorable shorthand for "Hyper-speculative, with little or no trading on the basis of the underlying utility." Why Tulips instead of houses? Because we as a society have been using the tulip analogy longer, that's really the only reason. It's not an assertion that tulips fit better than houses. It's much the same as expressions like "Grandfathered in." Nobody worries about whether a particular law or regulation is actually being enacted as a way to deprive ex-slaves of their right to vote while guaranteeing it for illiterate whites. To almost everybody, it's just a phrase.
• rootusrootus 8y ago
  I think tulips make a nicer analogy, but to be fair it isn't exactly the same. Same goes with houses. Tulips and houses both have some intrinsic value. The closest equivalent aspect of BitCoin is what, goodwill?