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The tulip bubble is a myth. But the funny thing about bubbles is they have a blow off top then deflate. Bitcoin has had 4 blow off tops and is at %200 of its
by cyphertruck 5y ago
The tulip bubble is a myth. But the funny thing about bubbles is they have a blow off top then deflate.
Bitcoin has had 4 blow off tops and is at %200 of its last one.
Not fitting the pattern.
- mwattsun 5y ago> The tulip bubble is a myth That's news to me. In what way is it a myth? https://en.wikipedia.org/wiki/Tulip_mania https://en.wikipedia.org/wiki/Tulip_mania
- kooshball 5y agoread the Modern View section of the wiki page. tldr is it's massively over stated and the actual impact was completely negligible. Not quite the same as the 2 trillion dollars global crypto market today. Any comparison of the two is just not done in good faith.
- mwattsun 5y agoThat's more true when taken in isolation, but I read about it as part of "Extraordinary Popular Delusions and the Madness of Crowds" by Charles MacKay as illustrative of crowd manias, mob mentalities, town scares and herd stampedes, not necessarily as great financial disasters in history. There are plenty of those that didn't involve the madness of crowds.