it this property, though its not perfect because its too easy to water down gold by adding impurities. "It's too soon to know if Bitcoin is Facebook or MySpace Prechter said. Thats up from 1,000 florins (35,000) in 1623, which is still insane. As demand grew, the price of tulips kept climbing, and soon people started buying up the flowers as a speculation. In the second case, since youd need to be storing your giant beach balls out in your front yard due to not fitting in the house, Billy the paper boy can walk off with them. Grains of sand are ultimately scarce on a galactic scale, but they would make a terrible store of value when sand is so plentiful and easy for us to obtain.
Tulip mania: Bitcoin vs history s biggest bubbles
Bitcoin chart vs Tulip mania chart vs Gold - Medium
But Semper Augustus was THE premium bulb. Moreover just like tulips, there are countless non-technical users who couldnt tell the difference between Blockchain and Blockbuster that have made tons cme futures bitcoin price of money and think theyre really smart (as opposed to lucky). Imagine having to throw away several dollars every time you paid someone in cash. This is another classic sign of a bubble: when the average Joe starts making tons of money in a market (and often credits that fortune to his smarts). Neither of them is a product compulsorily made by governments. The flower was called a tulip, derived from the Persian word dulband, meaning turban, which described its conspicuous shape. In the former case, your money is reasonable safe from all but a very determined thief or the government. It cant cost too much to move around relative to its value. As Investopedia tells it, tulip bulbs became such a prized commodity that by 1636 they were being traded on many Dutch stock exchanges and "many people traded or sold possessions to participate in the tulip market mania." "Like any bubble, it all came. Yet, since diamonds cannot be divided, they do not meet the demand for the medium of exchange.
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