Re:Crypto-assets and decentralized finance through a financi...
by IncRnd on Saturday July 09, 2022 @05:13PM
(#32039355)
It's a well-known historical period. Look up "tulip mania". It's not a flattering comparison for crypto.
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Re:Crypto-assets and decentralized finance through a financi...
by ayngg on Saturday July 09, 2022 @05:48PM
(#32039599)
It is well known, but it is not well understood, especially by those who use it as a comparison for crypto. The popular narrative is akin to a sensationalized tale which is contested by modern research on the subject. There is a misconception of the scope and effect of it, when in reality it was localized to a small number of wealthy merchants engaging in speculation on luxury goods with minimal economic damage overall as opposed to the popular narrative that it was a society wide mania which caused financial ruin for many. Basically the only thing they have in common is that they occurred in wealthy societies.
Re:Crypto-assets and decentralized finance through a financi...
by IncRnd on Sunday July 10, 2022 @08:13PM
(#32050676)
The number of people who were in tulip mania isn't relevant. Yet, whenever this comparison occurs, people try to debunk a comparison that isn't being made - instead of looking at the actual comparison that is being made.
Re:Crypto-assets and decentralized finance through a financi...
by ayngg on Thursday July 14, 2022 @04:59PM
(#32101381)
Instead of being dismissive, could you then explain what is the comparison being made then? I illustrated how they are not very similar but you haven't really given any additional context on what should then be compared.