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It's a great use case for economics textbooks describing human-market behavior with modern technologies to help add fuel to the fire. It will replace tulip man
by boringg 3y ago
It's a great use case for economics textbooks describing human-market behavior with modern technologies to help add fuel to the fire. It will replace tulip mania for a more recent experience. However the cost of that use-case was way to expensive for its net benefit.
- WeylandYutani 3y agoIt's intensely sobering isn't it? People haven't changed in 500 years. Still greedy. Still stupid. Still FOMO.
- boringg 3y agoVery much so - people haven't changed since the Sumerian civilization was established. We get smarted but on a fundamental level we don't change. I've been listening to ancient civ podcasts and we do the same things we've always done. Sometimes more complicated, faster etc but its mostly the same. Science is a big differentiator - that said it gets used and abused in much the same way.
- yieldcrv 3y agoalternatively, the tulip mania lasted for like 3 months, was also due to government regulations of the futures market, and there is no learning on what would have happened as the humans died due to the bubonic plague, so its the sort of the worst example of irrational exuberance despite its oft citing Bitcoin has a sustained 13 year wave, at far greater in amplitude than tulips, and spawned many bubbles along the way of even greater amplitude given the even shorter time periods, and now sustaining even during a period of quantitative tightening
- boringg 3y agoLonger bigger cycles typically imply larger crashes.