In some senses, Bitcoin is unique within the historical perspective. That is to say, cryptocurrency and the blockchain technology is different from anything that existed before.
But in another sense, Bitcoin is not unique. History is replete with fundamentally new things coming market. Amazon as an exclusively online retailer was new in this sense when it came about. Microsoft as an operating system could be said to have been new in a similar way when it came about.
Is there a good historical comparison for the meteoric rise of Bitcoin? Not something that was just once fundamentally new, but that has more compelling resonances with Bitcoin than simply being fundamentally new or a first-mover?
One could look at the NASDAQ (with focus on 1998-2002). But can the NASDAQ bubble be compellingly compared to Bitcoin, or are there reasons to believe that if Bitcoin is a bubble it is at least a different kind of bubble than that of the NASDAQ? Why or why not? Does NASDAQ being based on stocks which in turn are supported by a possibility of accessing collateral make it uncomparable, or not?
What would you say is the historic example of a bubble that can best be likened to Bitcoin?--and why do you think other potential candidates for comparison are less apt?
Submitted May 03, 2018 at 11:43PM by Dont_Go_Zero_To_BBC https://ift.tt/2rm7otd
