Is Bitcoin a Ponzi?
Tulips are the Hitlers of Bitcoin bubble analogies.https://twitter.com/naval/status/939316447318122496 …
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Analogies are misleading in this case.
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Well. I know someone who has a natural gas well. We're going to generate electricity and run a Bitcoin mine in his basement. We'll be rich rich rich. Time to start digging! I wonder how deep these things are buried.
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Comparing to Hitler analogies are the Hitlers of analogy analogies.
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@naval Godwin’s Second LawThanks. Twitter will use this to make your timeline better. UndoUndo
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Leaving the investment aspect aside, you may find this thread useful just as some background info on Bitcoin.https://twitter.com/bansisharma/status/939215100002652160 …
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Most people are mindles repeater nodes when it comes to economics. The best anaology if this falls through is to the South Sea Trading company founded in 1711.
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Or, of course, to the Chilean Energy Desaster of 1485.
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This guy right here
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KJW’s Keynesian Justice Warriors
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The Tulip-Hitler-Bitcoin-Bubble
#ThingsITrustMoreThanCNNThanks. Twitter will use this to make your timeline better. UndoUndo
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I don't see the difference between bitcoin and money. Both require you to believe they have value. Right now, more people believe in money than bitcoins. Who knows if that could change.
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The different is that you can pay taxes with money. Money is based on the belief that taxes are as likely as death. Bitcoin is like a digital bearer bond with a built in token network.
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It's not the same as other bubbles, this is a new paradigm.pic.twitter.com/2UWpTnUisu
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There will be a high correlation between those comparing this phenomenon to tulips and those buying the absolute top of the
$crypto market rallyThanks. Twitter will use this to make your timeline better. UndoUndo
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An interesting fact check on the often cited (includedby me) tulip bubble, from a well read friend...http://www.smithsonianmag.com/history/there-never-was-real-tulip-fever-180964915/ …
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People miss this. As you can see. Was about to post myself. The tulip fallacy.
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