Comment by eigenspace
1 day ago
There's a beautiful tulip garden just down the street from me, and an outdoor weekly market where tulip bulbs are sold. Tulips are very much still around, I assure you.
1 day ago
There's a beautiful tulip garden just down the street from me, and an outdoor weekly market where tulip bulbs are sold. Tulips are very much still around, I assure you.
I don't mean went extinct. I mean the idea that tulips could be an asset class is now laughable, which is not true of the other two. The impact of the tulip industry on GDP is utterly imperceptible.
Same thing could happen with the idea of selling tokens
I think bloppe was talking about the Tulip hype cycle that took out many generations.
Yes, that's my entire point. There was also a railroad hype cycle and an internet hype cycle that took in massive amounts of overinvestment, and all three things remained as regular things in the economy with bigger or smaller roles after the hype cycles ended.
See https://en.wikipedia.org/wiki/Railway_Mania and https://en.wikipedia.org/wiki/Pets.com for some info on the other hype cycles I mentioned.