Bitcoin must cost 10X more with 10X less utility to match tulip mania — Investor
There's no comparing the current bull run to the 17th century tulip bubble, Dan Tapeiro argues. Bitcoin (BTC) and cryptocurrencies look nothing like the tulip mania of the 17th century, even after their rapid gains, one macro investor says.In a tweet on Monday, Dan Tapeiro, co-founder of 10T Holdings, argued that in terms of price relative to average income, Bitcoin and Ether (ETH) still have a long way to go before challenging tulips.Bitcoin vs. tulips: There's no comparisonTulip mania was a brief but intense speculative bubble in what is now the Netherlands that lasted only a matter of....
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Written by: BigChubbyCat (8BTC). Translated by: James Choi (8BTC). Edited by: Elizabeth T. Ploshay (Bitcoin Magazine). 1. Tulip. In 1635, the price of a certain kind of tulip reached 1615 Florins. At the same time, the prices of four bulls and 1,000 pounds of cheese were only 480 Florins and 120 Florins respectively. The price of a tulip, however, kept soaring to a level the next year that one tulip of a rare species was sold at 4600 Florins. Additionally, the specific buyer also gave the seller a brand new carriage, two grey horses, and a whole set of harnesses. Eventually someone woke....
Hang around Imgur and reddit long enough and you will find photos of Dutch tulip fields popping up with clock-like regularity. The country has long been famed for its flower industry, and the expansive fields of colourful flowers do create a mesmerizing spectacle. When discussed in the same breath as bitcoin, however, Dutch tulips are an insult. 'Tulip mania', a phenomenon in the early 17th Century where tulips traded at extraordinarily high prices and then spectacularly crashed in value, is pointed to as a historical analogue of the current controversy surrounding bitcoin. In December,....
Famed gold supporter and investor Peter Schiff hasn't quite gone down in the books as a supporter of bitcoin. Late last year, Schiff appeared on CNBC program "Futures Now" to denounced the digital currency, calling it a "modern-day tulip mania" and saying he doesn't "think it's going to end up being a source of commerce for the world." Fast forward to today. Schiff's Euro Pacific Precious Metals is now accepting bitcoin - as you may have seen in the headlines this morning - allowing gold bugs to get their paws on the precious metal using digital currency. The same digital currency Schiff....
NYT likens the NFT bubble to the plague induced “tulip mania” of the 1600s, Polkamon NFTs generate more than $1 million in gas fees, and a man fails to sell 50% of a house as an NFT Having just flogged an NFT column for half a million dollars, the New York Times is now wondering if perhaps the whole scene is in a bit of a bubble?In a March 30 article, Art’s NFT Question: Next Frontier in Trading, or a New Form of Tulip? author Scott Reyburn questioned the sustainability of the current NFT bubble in prices and drew comparisons with the Dutch “tulip mania” of the 1630s. Tulip mania for....
NFT related tokens are surging as digital tulips make an appearance. The NFT craze is showing no signs of slowing down with a newly launched NFT tulip collection epitomizing how some view the current state of the crypto art ecosystem.The NFT collection appears to be an ironic reflection of the tulip mania-like status of the current NFT scene.The collection is on sale on the OpenSea NFT market place as “113 unique algorithmically generated collectible Tulips.” The NFTs were created by a digital artist going by the Twitter handle @jtbxl who has a number of pieces for auction on the Rarible....