View Poll Results: Bitcoins...the new Tulipmania?

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  • Yes, this bubble is bound to burst

    13 86.67%
  • No, Bitcoins will thrive!

    0 0%
  • IDK

    0 0%
  • Other

    2 13.33%
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Thread: Bitcoins...the new Tulipmania?

  1. #1
    Advisor aberrant85's Avatar
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    Bitcoins...the new Tulipmania?

    Bitcoin’s value tops $1,000 for first time.

    Bitcoins are a form of digital currency backed by nothing but the erratic faith its holders have in it. Now I read that they are currently worth more than $1,000 each. However, they could easily be worthless tomorrow if there is a collapse of confidence in their worth. This reminds me of the anecdote of the 17th century Dutch speculative bubble that was investing in exotic tulip bulbs. Will bitcoins survive as a thriving currency, or will people wake up and realize they are buying ones and zeros?
    "Obamacare delenda est"

  2. #2
    Advisor aberrant85's Avatar
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    Re: Bitcoins...the new Tulipmania?

    Here's Tulipmania, by the way: Tulip mania - Wikipedia, the free encyclopedia
    "Obamacare delenda est"

  3. #3
    Discount Philosopher
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    Re: Bitcoins...the new Tulipmania?

    Quote Originally Posted by aberrant85 View Post
    Here's Tulipmania, by the way: Tulip mania - Wikipedia, the free encyclopedia
    Beanie Babies. There's the place to put your money.

  4. #4
    Sometimes wrong

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    Re: Bitcoins...the new Tulipmania?

    They make as much sense as QuiBids or DealDash bid points. Anyone that buys bid pennies for $.50 each deserves what they get for them. A fool and his money are soon parted.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: Bitcoins...the new Tulipmania?

    Usually the people who think bitcoin is legit are the ones who think the Mad Max trilogy is less of a movie and more of a prophecy.

  6. #6
    Dungeon Master
    Chicks dig the long ball

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    Re: Bitcoins...the new Tulipmania?

    Quote Originally Posted by aberrant85 View Post
    Bitcoin’s value tops $1,000 for first time.

    Bitcoins are a form of digital currency backed by nothing but the erratic faith its holders have in it. Now I read that they are currently worth more than $1,000 each. However, they could easily be worthless tomorrow if there is a collapse of confidence in their worth. This reminds me of the anecdote of the 17th century Dutch speculative bubble that was investing in exotic tulip bulbs. Will bitcoins survive as a thriving currency, or will people wake up and realize they are buying ones and zeros?
    How can anything go wrong with that?
    I have CDO, it's like OCD but the letters are in alphabetical order like they should be.

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    Re: Bitcoins...the new Tulipmania?

    All I know about bitcoin is that its main selling feature is it's untraceable by authorities. Hence it's used on the "dark web," or onion sites, where things like child porn, videos of people being killed, illegal drugs are bought an sold, one can hire a profession hitman to kill his wife, underground terrorist groups meet and plot..... you know, that kind of wholesome all-american action.

    So that being the case, and stop me if I have the wrong idea here, I think it's only a matter of time until bitcoin is stomped out. So that's how I voted. Good day.

  8. #8
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    Re: Bitcoins...the new Tulipmania?

    Quote Originally Posted by aberrant85 View Post
    Those aren't even real words. Please use English and try again.

  9. #9
    Anti-Hypocrite
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    Re: Bitcoins...the new Tulipmania?

    I used to do bitcoin mining a couple years ago when you could still get a few on a home PC. I think I had like 5 of them at one point and sold them when they were at like $30 apiece. Kind of wish I had kept them now.
    If you build a man a fire, he'll be warm for a day.

    If you set a man on fire, he'll be warm for the rest of his life.

  10. #10
    Sit Nomine Digna
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    Re: Bitcoins...the new Tulipmania?

    Well since Silk Road is back they will probably thrive for quite awhile.

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