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Still Comparing Bitcoin to the Tulip Bubble? Well stop!

Still Comparing Bitcoin to the Tulip Bubble?  Well stop!

Encryption is still at an early stage, but with non-replaceable tokens NFTs And dfi DeFi، Blockchain It is the future of fintech, not just a bubble.

Comparing Bitcoin to the Dutch tulip bubble is to perpetuate a misconception, technology is developing faster than nature, and decentralized networks have more financial benefit than any flower bouquet.

It is technology, and the tulip is a plant, no one can take the comparison much further.

Led Tulipmania, a market bubble in the 17th century in which the price of a flower bulb rose due to speculation by Dutch investors, to a major crash.

Prices exceeded the average annual income at the time by six times, and the rarest bulbs became among the most expensive things on the planet even though the Bitcoin network has been in operation for a year. 2009, However, the comparison with the tulip bubble is still going on.

Last February, the British economist and member of the Council of the European Central Bank reminded us Gabriel Makhlouf Speaking of Bitcoin In trivial words:

"before 300 General, people were putting money in Tulip because they thought it was an investment.”

Between the legend of Tulipmania and the wonder of Bitcoin… What do they have in common??

tulipmania

opponents use Bitcoin، tulipmania To justify their short-sighted predictions, stories were spread about her by a Scottish journalist Charles Mackay Charles Mackay In his book “Memoirs of Exceptional Popular Delusions and the Madness of the Masses” in 1841, where he wrote Mackay:

“The golden bait hung seductively in front of the people, and then they rushed one by one to the tulip markets, like flies around a pot of honey.

The nobles, the citizens, the farmers, the mechanics, the seamen, the servants, the maidservants, even the chimneys, the old clothes, the women... were busy with the tulips.”

But when the tulip bubble burst in a year 1637, allegedly Mackay The Dutch economy was in ruins.

Although the absurdity of this situation constitutes a good story, researchers have noted that the novel Mackay For tulips obsession may not even be correct.

This version of events is not supported by historians, said a professor of early modern history at King's College in London and author of a book Tulipmania، It goldger Anne Goldgar:

“Money, honor and knowledge in the Dutch Golden Age explain why a copy was not combined Mackay“.

Who laments that even a serious economy man like John Kenneth Galbraith ، has written a novel Mackay On a brief history of financial joy:

“It's a great story, and the reason it's like that is because it makes people look stupid.

But the idea that tulip mania caused major depression is not true. As far as I can see, it has not caused any real impact on the economy at all.”

Why is Bitcoin so divisive? Is it currency or technology?

dotcom bubble

In addition to tulip mania Dutch, bull markets are sometimes written off in technologies Blockchain As a bubble akin to the dotcom bubble. This is a better comparison, albeit an inaccurate one.

In all its forms, including encryption, dfi Or non-fungible tokens, the Internet of Money has not yet entered the bubble stage or shown all its use cases.

We are in the mid-1990s, the equivalent of the dotcom era, not near the bubble stage. In addition, the impact of this bubble on humanity was much less than that of the Internet.

Which is the pattern you are most likely to follow Blockchain, especially when compared to tulip bulbs.

Previous crypto bull markets have also had far greater effects than price gains. In a year 2013The world recognized the existence of Bitcoin. And in my year 2017 and 2018, they admitted the existence of encryption.

Since many projects of the year 2017 Turned out to be nothing, it seems that she was simply in it to raise money. That period serves nothing more than a preview of what is to come.

Cryptocurrencies and Internet casinos… Operation and advantages!!

There is no match for Tulipmania

In fact, the last bull market in the period 2020-2021And the first after the ICO mania, it has never been a major bull market that many have been waiting for.

Instead, like 2017-2018, was another showcase of what could be the future, and put Blockchain In the spotlight even more.

.Bitcoin vs Tulipmania and Other Bubbles

During the next bull market, which may be a few years away, the leading institutions will integrate my systems dfi and encryption, the process has already begun.

Meanwhile, employees see FAANG (Facebook Facebook، Amazon Amazon، Camel Apple، Netflix Netflix، google Google) writing on the wall and coming out in groups, looking to build the encrypted landscape with intuitive products.

Despite Ethereum’s Dominance, Various Blockchain Chains Are Seeking Competition

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