5 ms·

But... but... but.. it's just a bubble of beanie babies, right?

by 1996 6y ago

aplummer 6y ago
I hope so for the sake of the environment. I’ve made decent money in crypto gambling, however I still feel the long term value of Bitcoin is near zero.
- seibelj 6y ago
  What’s so wonderful is you can completely ignore bitcoin! No one makes you value it above zero. I myself value it highly, but consider high-end works of art as valueless. But we can each decide what has value independently!
  - aplummer 6y ago
    Sure I never said the contrary, just what I hope for that particular crypto.
jdmoreira 6y ago
Yes it is. https://en.m.wikipedia.org/wiki/Tulip_mania https://en.m.wikipedia.org/wiki/Tulip_mania
- washedup 6y ago
  The clearest indicator that someone does not understand Bitcoin is when they point to the Tulip Mania
  - cupofjoakim 6y ago
    Your reply to that comment reads a lot like "It's not a phase mom, you'll never understand". I won't get in to what I actually think on the matter though.
    - CryptoGhost 6y ago
      Mackay's account of inexplicable mania was unchallenged, and mostly unexamined, until the 1980s.[51] Research into tulip mania since then, especially by proponents of the efficient-market hypothesis,[17] suggests that his story was incomplete and inaccurate. In her 2007 scholarly analysis Tulipmania, Anne Goldgar states that the phenomenon was limited to "a fairly small group", and that most accounts from the period "are based on one or two contemporary pieces of propaganda and a prodigious amount of plagiarism".[11] Peter Garber argues that the trade in common bulbs "was no more than a meaningless winter drinking game, played by a plague-ridden population that made use of the vibrant tulip market."[52] While Mackay's account held that a wide array of society was involved in the tulip trade, Goldgar's study of archived contracts found that even at its peak the trade in tulips was conducted almost exclusively by merchants and skilled craftsmen who were wealthy, but not members of the nobility.[53] Any economic fallout from the bubble was very limited. Goldgar, who identified many prominent buyers and sellers in the market, found fewer than half a dozen who experienced financial troubles in the time period, and even of these cases it is not clear that tulips were to blame.[54] This is not altogether surprising. Although prices had risen, money had not changed hands between buyers and sellers. Thus profits were never realized for sellers; unless sellers had made other purchases on credit in expectation of the profits, the collapse in prices did not cause anyone to lose money.[55]
      - jdmoreira 6y ago
        Sounds very similar to what I believe they will write about bitcoin in the future. Time will tell.
  - jdmoreira 6y ago
    I think I understand bitcoin pretty well. You don't mean I don't understand bitcoin, you mean I don't understand "Bitcoin, the phenomenon". And I think I also understand that pretty well. I just happen to understand from a totally different point of view than you.

But... but... but.. it's just a bubble of beanie babies, right?

by 1996 6y ago

But... but... but.. it's just a bubble of beanie babies, right?

I hope so for the sake of the environment. I’ve made decent money in crypto gambling, however I still feel the long term value of Bitcoin is near zero.

seibelj 6y ago
What’s so wonderful is you can completely ignore bitcoin! No one makes you value it above zero. I myself value it highly, but consider high-end works of art as valueless. But we can each decide what has value independently!
- aplummer 6y ago
  Sure I never said the contrary, just what I hope for that particular crypto.

jdmoreira 6y ago

Yes it is. https://en.m.wikipedia.org/wiki/Tulip_mania https://en.m.wikipedia.org/wiki/Tulip_mania

washedup 6y ago
The clearest indicator that someone does not understand Bitcoin is when they point to the Tulip Mania
- cupofjoakim 6y ago
  Your reply to that comment reads a lot like "It's not a phase mom, you'll never understand". I won't get in to what I actually think on the matter though.
  - CryptoGhost 6y ago
    Mackay's account of inexplicable mania was unchallenged, and mostly unexamined, until the 1980s.[51] Research into tulip mania since then, especially by proponents of the efficient-market hypothesis,[17] suggests that his story was incomplete and inaccurate. In her 2007 scholarly analysis Tulipmania, Anne Goldgar states that the phenomenon was limited to "a fairly small group", and that most accounts from the period "are based on one or two contemporary pieces of propaganda and a prodigious amount of plagiarism".[11] Peter Garber argues that the trade in common bulbs "was no more than a meaningless winter drinking game, played by a plague-ridden population that made use of the vibrant tulip market."[52] While Mackay's account held that a wide array of society was involved in the tulip trade, Goldgar's study of archived contracts found that even at its peak the trade in tulips was conducted almost exclusively by merchants and skilled craftsmen who were wealthy, but not members of the nobility.[53] Any economic fallout from the bubble was very limited. Goldgar, who identified many prominent buyers and sellers in the market, found fewer than half a dozen who experienced financial troubles in the time period, and even of these cases it is not clear that tulips were to blame.[54] This is not altogether surprising. Although prices had risen, money had not changed hands between buyers and sellers. Thus profits were never realized for sellers; unless sellers had made other purchases on credit in expectation of the profits, the collapse in prices did not cause anyone to lose money.[55]
    - jdmoreira 6y ago
      Sounds very similar to what I believe they will write about bitcoin in the future. Time will tell.
- jdmoreira 6y ago
  I think I understand bitcoin pretty well. You don't mean I don't understand bitcoin, you mean I don't understand "Bitcoin, the phenomenon". And I think I also understand that pretty well. I just happen to understand from a totally different point of view than you.