Post
Topic
Board Economics
Re: Ill give you 1 tulip bulb for 6 bitcoins
by
MaTachi
on 09/04/2013, 17:47:20 UTC
Bitcoin is an amazing piece of technology - anyone can go dig up a tulip bulb this comparison is ridiculous

Tulips are an amazing piece of natural bioengineering, and anyone can go mine a coin. I think this comparison is comparable.

The market cap for tulips is currently higher than the market cap for bitcoins. Add daffodils, and roses and we are entering stratospheric prices.
And that's discounting the lily and the orchid as a minor players in this market.

You are comparing natural resources with a currency. And during the tulips mania the tulips obviously weren't bought for their physical properties, which explains the crash, because people realized that the tulips as products weren't worth the ridiculous price.