3 ms·
A better comparison than tulips would be silver. Tulips are a bad store of wealth (they rot, anyone can grow them, are not divisible, etc), whereas Bitcoin and
by Hermel 14y ago
A better comparison than tulips would be silver. Tulips are a bad store of wealth (they rot, anyone can grow them, are not divisible, etc), whereas Bitcoin and silver can be stored and easily divided into smaller units. It still could be in a bubble, like silver was around 1980.
http://silverprice.org/charts/history/silver_all_data_o_usd.png http://silverprice.org/charts/history/silver_all_data_o_usd....
- jbester 14y agoNot sure I buy either of the metaphors. Silver has industrial, scientific, and commercial (i.e., jewelry) applications that create demand and use the commodity. Bitcoin, on the other hand, does not. It's just used as a transitional currency.
- rikf 14y agoIt does have certain mathematical properties that make it rare. or at least harder and harder to produce as times goes on that leads to scarcity. And as we all know price = demand / supply