Re: If you are waiting for the "despair phase" to buy like in 2011 consider this
Actually tulips did have something of a supply constraint, because it would take 7 to 12 years to cultivate a flowering bulb from a seed. So no, tulips could not be spontaneously created as some of you seem to believe. People were willing to spend a lot on them because they were rare and rapidly increasing in value. Why else do you think they would have spent a fortune on them?? Simply because they were pretty?? 
They expected a return on their investment.
You know.. exactly like bitcoiners. You can deny it all you want, but they're essentially thr same thing.
They expected a return on their investment. You know.. exactly like bitcoiners. You can deny it all you want, but they're essentially thr same thing.
No they're not essentially the same thing. Bitcoin is something that we can use as a modern monetary system that will ease the national trade as well as the international trade. Once the applications are developped enough, consumers and merchants can only be seduced by this technology.
Try now to create a modern monetary system with tulips that would be able to compete with bitcoin advantages... Good luck.
People in the 17th century bought tulips because they were rare and rapidly rising in value. Their goal was to ride it up and sell them to a greater fool, just as bitcoiners are doing now. You just don't want to face that. "This time it's different."
You can claim that bitcoin will usher in a new age of international trade, but this does not appear to be happening and I highly doubt governments and corporations are dumb enough to transact with a digital currency that is so volatile with absolutely no regulation. If a major bitcoin exchange can't even keep their coins safe, how do you expect Sony or any other company?
"John in IT forgot to put those coins back into the cold wallet. Oops, guess all the company's money is gone."
...Not to mention the risk of insider attacks.