2013-12-06 ZDNet: Bitcoin: It's not just loopy tulip land, it's worse
Bitcoin: It's not just loopy tulip land, it's worse
http://www.zdnet.com/bitcoin-its-not-just-loopy-tulip-land-its-worse-7000024009/
My summary: This guy even looks like personified ignorance.
One thing I'd like to comment to all this uninformed tulip bubble verbal diarrhea:
At the height of the tulip bubble, in 1639, 49,000 m² of land has been sold for one of two existing Semper Augustus bulbs, while a single bulb of the Viceroy has been purchased for a basket of goods worth 2,500 florins. Which was more than 16 times the annual income of a skilled worker. Also, getting a pretty house in Amsterdam for a tulip was no problem.
Therefore, comparing Bitocin to the tulip mania makes me smile, as this would mean Bitcoin could easily go to a million!
And the dutch tulip mania was just endemic, while Bitcoin could easily develop into a pandemic "tulip bubble"...
So Bitcoin may indeed be "worse", but only for those who don't have any.
http://www.zdnet.com/bitcoin-its-not-just-loopy-tulip-land-its-worse-7000024009/
Quote
Summary: Bitcoin's erratic value and irrational cheer squad of speculators are proof this digital currency is unlikely to ever be workable for everyday transactions.
My summary: This guy even looks like personified ignorance.
One thing I'd like to comment to all this uninformed tulip bubble verbal diarrhea:
At the height of the tulip bubble, in 1639, 49,000 m² of land has been sold for one of two existing Semper Augustus bulbs, while a single bulb of the Viceroy has been purchased for a basket of goods worth 2,500 florins. Which was more than 16 times the annual income of a skilled worker. Also, getting a pretty house in Amsterdam for a tulip was no problem.
Therefore, comparing Bitocin to the tulip mania makes me smile, as this would mean Bitcoin could easily go to a million!
And the dutch tulip mania was just endemic, while Bitcoin could easily develop into a pandemic "tulip bubble"...
So Bitcoin may indeed be "worse", but only for those who don't have any.