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Re: ONEWDMONEY post# 1221

Tuesday, 11/29/2016 3:42:57 PM

Tuesday, November 29, 2016 3:42:57 PM

Post# of 1872
DibCoin is not BitCoin...

There are well over 700 cryptocurrencies out there...

The valuation of a cryptocurrency is based on usership, and BitCoin is the cryptocurrency that won out above all others, and thus dominates the marketplace.

Crypto-currency = Dutch Tulip Bulb Market Bubble


One of the most famous market bubbles of all time, which occurred in Holland during the early 1600s when speculation drove the value of tulip bulbs to extremes. At the height of the market, the rarest tulip bulbs traded for as much as six times the average person's annual salary.

The tulip was brought to Europe in the middle of the sixteenth century from the Ottoman Empire. Holland's upper classes soon competed for the rarest bulbs as tulips became a status symbol.

By 1636, tulip bulbs were traded on the stock exchanges of numerous Dutch towns and cities, encouraging all members of society to speculate in the markets. Many people traded or sold possessions to participate in the tulip market mania. Like any bubble, it all came to an end in 1637, when prices dropped and panic selling began. Bulbs were soon trading at a fraction of what they once had, leaving many people in financial ruin.





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