Can the Bitcoin rally be compared to the tulip bulb boom of the past?
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No, you can’t.
https://www.youtube.com/watch?v=Gl8ljvkbKG0
The main reason is that the offer of tulips is not fixed. We can quickly grow tulips and that means that we can easily adapt the supply to demand. As soon as the supply exceeds the demand, the price breaks in. The stock of Bitcoin is fixed and there is a mathematical ending after which we can never generate new coins again. In addition, there is no way to increase the mining rate. However, the supply will continue to be generated in a controllable manner to meet demand. As the mathematical problem comes to an end, the supply will decrease, which will further increase demand.
So please – for those of you out there who understand the dynamics of a pure supply/demand economy and recognize the differences between infinite and finite supply dynamics – hear Please refer to the tulip mania of 1636, there is no valid comparison between the two .
Then there are the other 4 reasons:
Blockchain🤣 Even only a virtual construct without any substance.
You can probably not even explain how a blockchain works including what’s all about it xD
Bitcoin is money because it fulfills all properties of money.
Longevity: Your good shouldn’t be able to spoil. In addition, it should not be destructive (if possible).
Mobility: You should be able to easily transport your value store. Besides, this should be compact so you can easily store it. (A cow is difficult to transport and consumes a lot of space when storing. A gold bar is more compact and can be transported and stored better.)
Fungiability (= replaceability): A unit of your value store should correspond to another unit of the same item or be interchangeable.
Checkability (=verifiable): You need to be able to easily identify your value store. With a review, you should be able to quickly verify the property as authentic.
Participation: A good value store is easily divisible. You should be able to split it into small pieces.
Rareness: Your memory should be costly and falsified. It should be a rare commodity that does not often exist in this world.
Long history: Your good should be regarded as valuable by society for a long time. With a long history, trust in society grows into the value store.
Censor resistance: How hard is it to get to your estate for a state or a company? This is the latest of the eight properties that make up a good value store. With the emergence of an increasingly digitized world, there is an ever greater monitoring. Therefore, in today’s society you additionally need a censor-resistant good.
I regularly pay online and offline
Bitcoin = Austrian School of Economics = Friedrich Hayek, Carl Menger, Ludwig von Mieses etc…
Friedrich Hayek predicting cryptocurrency (youtube.com)
Hayek has already talked about raising money from the state so that money can evolve.
Economics isn’t exactly what the religious part comes here. Krypto is a speculation object. FERTIG AUS.
It has nothing to do with religion. Ehr Physics, Economics and Informatics
Apparently the same as a Bible study…
How high is the power consumption of Bitcoin? What is the power consumption of Netflix? Or the current banking system?
Believe me the discussion brings nix I study Bitcoin since 2016 we don’t even have the same level of knowledge.
What exactly? The insane power consumption?
Yes and no. As others have correctly noticed, tulip onions can be multiply as desired, Bitcoin does not. An onion is hardware, a bitcoin is a purely virtual construct.
Both mean that in contrast to a “right” Currency is not directly behind the economic power of an economy and the recognition as a means of payment is prescribed by law. So the value of bitcoin, just as the onion owes to the highly subjective and popular belief.
Exactly this lack of coupling to the economy and the complete insurability make cryptocurrencies also impracticable as a means of payment and the more suitable as a speculative object.
And we are honest: Krypto is playing money with extreme money laundering potential and is therefore eventually banned.
Bitcoin is very bad for money laundering because completely transparent trackable for ever and ever written into the blockchain. Billions are still washed with dollars….
Also the euro or dollar has long been decoupled from economic performance. see debt in the USA.
The last sentence bears witness to a loss of reality.
https://youtu.be/gOkpv61cp8A?si=gkk7bRMcjtodAdnv
Doof only that this does not support your statement in the least.
Simply view the data xD
Debt is higher than GDP
https://de.statista.com/statistic/data/studie/165786/enquiry/state debt-der-usa-in-relation-zum-bruttoinlandprodukt-bip/
Debt payments are higher than military spending that is supposed to mean something in America
https://www.ftd.de/finanzen/schulden-der-usa-zinkosten-toppen-militaeretat/
Compare yes, but only to show the differences. The tulip mania was over very quickly. However, bitcoin is now much longer and has been able to increase the value even more and more despite greater losses.
well the tulip bulbs crashed back into the groundless, while the bitcoin rebounds. No one has definitely lost here. And it’s not foreseeable how long this goes on.
Comparable in that both phenomena are based on speculation.
In the onions of tulips, further gains failed but in the oversupply.
That’s different with bitcoin. It plays an essential role here whether it appears as an alternative currency – or not.
If you are willing to do this, please remember the choice of the ‘helpiest answer’! 😊