[DiogenesLamp]

Why the value of bitcoin is on an absolute tear

The Dutch tulip craze all over again.

[IDFbunny]

It's not a bitcoin thread until somebody brings up 'tulips' or 'beanie babies'.

[Another Post-American]

Tulips don't have a whole lot of utility compared to blockchains. They never had armies of developers backed by hundreds of millions of dollars of Wall Street capital building a new financial infrastructure around what is widely hailed as a revolutionary technology.

We can compare bitcoin to its alternative, fiat currency, which is currently valued in the trillions (compared to billions for bitcoin) of dollars. When we do, we realize how dramatically undervalued cryptocurrency is by comparison. Government-issued funny money is what is over-valued. Its only inherent value is as sub-standard wallpaper or toilet paper.