geneva_sativa
Well-known member
Funny how the people pull the conspiracy, race, and/or pretty much any other kind of bullshit card you can think of, when the status quo gets called out for their fraudulent practices.
yep, that
Funny how the people pull the conspiracy, race, and/or pretty much any other kind of bullshit card you can think of, when the status quo gets called out for their fraudulent practices.
Wait... fractional reserve banking is a conspiracy theory? Hrmmm.... I didn't see that one coming and it flies in the face of research I've done in the past. Yes, the banks of the world practice fractional reserve banking.Please conspiracy theories
Everyone knows the fractional reserve banking was the meat in the post. I don't care if someone has toast with aliens at lunch every day. When they quote factual information I don't discard it, simply because of the source.Taking a quote out of context and adding your own meaning to it,doesn't make the original poster look dumb, it makes you look dumb. Everyone reading my post knows that what I was calling a conspiracy theory is that "only 3 banks on earth aren't run by the same family." This is clearly paranoid nonsense. You're clearly desperate to throw mud at me. I don't see why, but keep trying, let's see who gets the muddiest.
download an app called finance
ripple
litecoin
iota
0x
stellar lumens
Monereo
buy them all in bits an holdle
It's Official: Bitcoin Surpasses "Tulip Mania", Is Now The Biggest Bubble In World History
One month ago, a chart from Convoy Investments went viral for showing that among all of the world's most famous asset bubbles, bitcoin was only lagging the infamous 17th century "Tulip Mania."
One month later, the price of bitcoin has exploded even higher, and so it is time to refresh where in the global bubble race bitcoin now stands, and also whether it has finally surpassed "Tulips."
Conveniently, overnight the former Bridgewater analysts Howard Wang and Robert Wu who make up Convoy, released the answer in the form of an updated version of their asset bubble chart. In the new commentary, Wang writes that the Bitcoin prices have again more than doubled since the last update, and "its price has now gone up over 17 times this year, 64 times over the last three years and superseded that of the Dutch Tulip’s climb over the same time frame."
That's right: as of this moment it is official that bitcoin is now the biggest bubble in history, having surpassed the Tulip Mania of 1634-1637.
And with that we can say that crypto pioneer Mike Novogratz was right once again when he said that "This is going to be the biggest bubble of our lifetimes." Which, of course, does not stop him from investing hundreds of millions in the space: when conceding that cryptos are the biggest bubble ever, "Novo" also said he expects bitcoin to hit $40,000 and ethereum to triple to $1,500.
"Bitcoin could be at $40,000 at the end of 2018. It easily could," Novogratz said Monday on CNBC's "Fast Money." "Ethereum, which I think just touched $500 or is getting close, could be triple where it is as well."
As for Wang, here are some additional observations:
I continue this topic and discuss a main driver of bubbles. When we see a dramatic rise in asset prices, there is often an internal struggle between the two types of investors within us. The first is the value investor, “is this investment getting too expensive?” The second is the momentum investor, “am I missing out on a trend?” I believe the balance of these two approaches, both within ourselves and across a market, ultimately determines the propensity for bubble-like behavior. When there is a new or rapidly evolving market, our conviction in the value investor can weaken and the momentum investor can take over. Other markets that structurally lack a basis for valuation are even more susceptible to momentum swings because the main indicator of future value is the market’s perception of recent value.
Tulips have long held a significant role in Dutch history and culture ever since they were introduced to the Netherlands from the Ottoman Empire in the mid-1500s. So strong was the Dutch love affair with tulips during the Dutch Golden Age of the mid-1600s that a tulip bulb bubble or "Tulip Mania" even occurred. Generally considered to be the first recorded financial bubble, the Tulip Mania of 1636-1637 was an episode in which tulip bulb prices were propelled by speculators to incredible heights before collapsing and plunging the Dutch economy into a severe crisis that lasted for many years.
By the peak of tulipmania in February of 1637, a single tulip bulb was worth about ten times a craftsman’s annual income and a single Viceroy tulip bulb was allegedly exchanged for the following goods (The Tulipomania, n.d):
Two lasts of wheat
Four lasts of rye
Four fat oxen
Eight fat swine
Twelve fat sheep
Two hogsheads of wine
Four tuns of beer
Two tons of butter
1,000 lb. of cheese
A complete bed
A suit of clothes
A silver drinking cup
The cool thing, for me, is it doesn't matter what the price of Bitcoin reaches. I'm making a little here and there trading on it and investing the profits in coins with service value. Bitcoin can go insane and then die, I'll still be holding coins being used daily and getting paid for it.So, what will Bitcoin's value be...a year or 2 after the bubble height? History says, not much.
Time to put this in historical perspective--
Source: zerohedge.com/news/2017-12-12/its-official-bitcoin-surpasses-tulip-mania-now-biggest-bubble-world-history
A bit about "tulip mania" from: thebubblebubble.com/tulip-mania/
So, what will Bitcoin's value be...a year or 2 after the bubble height? History says, not much.
My friend raves about Bitcoin. But lacks basic understanding. He sells them for cash via CL ads.
How is everybody planning on cashing out? Is it possible for people to change bitcoin into other assets en mass? Because from where I sit it looks impossible.
Reminiscent of other bubbles. Until you have something tangible your profit is imaginary.
My friend raves about Bitcoin. But lacks basic understanding. He sells them for cash via CL ads.
How is everybody planning on cashing out? Is it possible for people to change bitcoin into other assets en mass? Because from where I sit it looks impossible.
Reminiscent of other bubbles. Until you have something tangible your profit is imaginary.