Last month, I made a post that said you can easily spot when someone doesn't know what they are talking about when it comes to bitcoin. It is basically this: they say something about tulips.
Well, here's this guy from JP Morgan, Jamie Dimon, who now claims bitcoin is a fraud. Guess what he said? "It's worse than tulips." (Shocker! A banker doesn't like a shift in the way people spend currency that will destroy banks)
Okay. Here's the truth about Tulip Mania and why people that say "It's worse than tulips" don't have a clue:
- If Tulip Mania really did happen it was in the 1630's. So, these financial "experts" are suggesting that markets and money and pretty much everything is comparable to something that might have happened in 1630 Holland.
- It might not have happened. The lack of consistently recorded price data from the 1630s makes the extent of the Tulip Mania difficult to discern.
- Tulips are a commodity. Bitcoin is a currency. They are not comparable.
Big banks are starting to make a big noise about bitcoin. That might mean they are scared of it. You should probably buy some bitcoin.
One more thing, the Gilder was the currency used in Holland during the Tulip Mania and after. It was real money made out of real gold and silver for a long time. The Gilder endured for hundreds of years until it was converted to a fiat currency in 1936. It no longer exists.
