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Why Does Bitcoin Have Value?
- jqpabc123 6y agoShort answer --- for the same reason tulip bulbs had a lot of value back in the 1600's.
- nomad1 6y agoI think it has more going for it-it is fungible, they can't print more of it, it is secure, and a critical mass of people agree that it has value.
- alwillis 6y agoThe article is worth reading and considering. The tulip thing lasted a few months while bitcoin has been the best performing asset of the last 5 and 10 years. Very different.
- bitxbitxbitcoin 6y agoThere are plenty of legitimate reasons to deride Bitcoin but comparing it to tulipmania is really tired and just plain wrong for so, so many reasons. Read up a little on what actually happened during Tulipmania - how many people were effected, and the role of the nascent futures contract and government action/ability to take action.[0][1] Bitcoinmania isn't the same in scale, nor in the underlying fundamentals of the commodity being speculated on, and certainly not in the ability for government to take action. [0] https://www.history.com/news/tulip-mania-financial-crash-holland https://www.history.com/news/tulip-mania-financial-crash-hol... [1] https://www.investopedia.com/terms/d/dutch_tulip_bulb_market_bubble.asp https://www.investopedia.com/terms/d/dutch_tulip_bulb_market...
- alwillis 6y agoThe article is also available as a podcast: https://bitcoinaudible.com/?p=5444 https://bitcoinaudible.com/?p=5444