0 sats \ 0 replies \ @premitive1 12 Aug 2023 \ on: The Rise and Fall of Bitcoin and Tulips: A Tale of Economic Bubbles bitcoin
Just when everyone thought the price of Bitcoin would keep climbing
I didn't think that. Nor do I generally preoccupy myself with the price of bitcoin.
you might find yourself losing a lot of money when the bubble bursts
The only people who lost money were those selling their bitcoin. Those who held their bitcoin didn't lose a sat.
You miss a very important distinction in your comparison. Tulips had value as flowers before they became an instrument of speculation. Bitcoin as money IS the value, and therefore will always be rife for speculation as long as we live in a world of material scarcity.
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