Re:Bitcoin makes journalists say stupid things
by ars on Friday April 05, 2013 @04:37PM
(#5500909)
Clearly you have not studied the subject.
No tulips were ever exchanged during the mania - only contracts for tulips.
The contracts had near-zero storage costs, near-zero transmission cost (just membership in the trading hall), anonymous ownership (sort of), and the process for generating tulips seems fair to me - the more work you do, the more tulips you create.
(Not that is actually mattered - the entire thing happened during the dormant season of the tulip, and no one actually grew any.)
No tulips were ever exchanged during the mania - only contracts for tulips.
The contracts had near-zero storage costs, near-zero transmission cost (just membership in the trading hall), anonymous ownership (sort of), and the process for generating tulips seems fair to me - the more work you do, the more tulips you create.
(Not that is actually mattered - the entire thing happened during the dormant season of the tulip, and no one actually grew any.)