"The tulip bubble" is a popular low-thought way for lazy critics to try to insult an asset they don't understand whose price has gone up. They used the first negative cliche that came to their minds; they didn't try to or couldn't find a better comparison.https://twitter.com/prof_wsoff/status/971819422297083904 …
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Completely agree. Tulip bubble don’t create multiple iterations and generations of products and new market behavior through open source product development. Comparing with Tulip bubble shows lack of understanding.
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I agree. Calling it a tulip
bubble is soooo #2017 . -
2012, 2013, 2014, 2015, 2016 too
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Remember the dumb response to privacy concerns 10 years ago? "If you have nothing to hide, you got nothing to worry about.". People hear something which sounds good/cool and they keep on repeating it. It gets even more annoying when they switch sides.
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Also, the tulip bubble didn't nearly impact as many people as often portrayed. Compared to today, it could probably be compared to a small altcoin.
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Dotcom boom and bust is WAY more accurate - far too many worthless, unnecessary "assets" with little to no revenue stream (99% of alt coins). Perfect analogy.
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Lots of good filters. If the critic doesn’t land on an algorithmic feature, mining distribution or centralized fiat exchanges in the first two paragraphs, they don’t get it.
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Love that tweet on the same topichttps://twitter.com/naval/status/939316447318122496 …
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well they are two of the biggest bubbles ever. That doesnt mean they have to share other similarities, just that they start with something worth nothing and finish there after an interval.
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You do know that the total assets invested in crypto are a crumb compared to the US financial market that crashed in 08’ right? Right? Hyperbole much?
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Not to mention that the narrative is completely oversimplified.
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Have you given thought to a better comparison (from the bear pov) ?
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I don't think there is one as whether Bitcoin wins out in the long run or not is irrelevant, decentralized crypto is here to stay and will overtake gov issued fiat one day.
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While I agree, I think the strongest argument is one that shows one deeply understands the counter argument. Assuming cryptoasset values are over inflated today, is there a comparison that better describes the hype? Instead of tulips ... .com boom? Or?
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I guess maybe the .com boom because while values got out of hand the Internet itself did not die.
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