Seriously, I guess this is the right comparision rather than the "Tulip Mania" bubble.
You can see the same pattern, stories of people getting wealthy selling Beanie Babies, the gelosy, the irrational boom of friends, co-workers, neighbours, etc buying it the delusion, the complete no sense greed. and eventually the understanding that it's pretty cool, like you can still play with plushies even if they're worthless, you can still send bit money from a guy to another without the need to pay $15-20k for each of them.
Whats your native language? Your english is almost perfect, its just a small spelling error that doesnt seem like a native english speaker would make.
Also, heres the best video on Beanie Babys Ive ever seen, depiction of a beanie baby bag holder still holding till this day. youtube.com/watch?v=PgDsyj5eLmo
Jason Sullivan
tickle me elmo bonanza.
Jack Scott
can somone post the bitcoin bubble meme?
Nathaniel Smith
We say what the value is and that's that.
Samuel Watson
Can you just "make" bitcoins like you can beanie babies?
Are beanie babies simple stuffed animals or cutting edge, visionary technology?
Aiden Rodriguez
Last time I checked beanie babies weren't finite supply tokens existing on the first decentralized secure public ledger created by mankind. >you can still send bit money from a guy to another without the need to pay $15-20k for each of them I'm not even sure what you mean by this, but you can send fractions of a Bitcoin. It seems you have no idea what Bitcoin is or how it works
Dominic Rivera
Beanie babies don’t provide the technology block chain does faggot
Brayden Hughes
>or the stock market, lose the money there Kek. Feels bad man. I've been FOMO guy before, I know how it feels to be there. Telling all your friends how much money you're gonna make, proceeding to lose money, dodging questions about it. Thank fuck for the bull run in crypto this year or I'd still have been at loss.
Hunter Sanchez
Beanie babies are a better analogy than tulips but still retarded.
Surprised the jew media isn't running with this narrative
Logan Fisher
>jealousy I guess.
I'm Italian anyway, sometimes I type better sometimes not, I guess you tollerate. lol
I mean, at the very end is full of cryptocurrencies with no fees and faster transactions to transfer money if you want to cut off banks. Bitcoin right now is just a meme get rich quickly scheme, it completely lost whatever purpose it had at the beginning (not shilling Bitcoin Cash, just saying).
Joseph Carter
interesting video. I heard about this when I bought BTC in August. BTC is surely in a beanie baby bubble, as the coin now costs 12$ for one transaction and there are 208k unconfirmed transactions.
Julian Garcia
I looked into the beanie babies bubble the other day. It's a lot like what we are seeing now. Prices went up 84x. The average joe could afford to buy in. It made up 10% of eBay's sales. An 11 yr old grossed 3 million in 1 year selling beanie babies. youtu.be/bKT9rm2mAvA?t=117
In 1996, the masses weren't familiar with beanie babies. By 1998, everyone knew, and the bubble was in full swing. youtu.be/7qsMIB99SgA?t=2563 Pokemon killed the bubble when the masses lost interest. The dotcom crash didn't help either.
The difference with crypto, is it's creating actual companies and products. So I see a crash like the dotcom coming some day, but a rebound when the legitimate coins survive.
Jacob Smith
i kind of agree i think that it is very likely that this is a situation like the dotcom bubble where the technology is great but no one knows how to make it work yet. people are throwing tons of money because there is a chance one of these becomes the world currency, but it's likely that none of them do
but if any of the current batch does have staying power, it's btc, just because of the sheer amount of fiat invested in it now. so even though it's likely that a real decentralized currency is still a decade away i think it's worth investing in btc just in case it does pan out
Charles Carter
This crypto boom is similar to the dotcom boom. People knew the internet would be big, but didn't know which companies would stay on top. They couldn't value companies because the concepts were so new. So they threw huge money at the wall, hoping it would stick.
That's exactly whats happening with crypto. I see BTC lasting because it's the official store of value in the cryptosphere. I see ETH lasting because so many companies use it as a funding platform. Everything else I'm suspicious of, especially BTC clones that have no competitive advantage. ICOs are basically crypto startups, so a few might take off, but the majority will fail.
Benjamin Gonzalez
Yeah thats it, your English is essentially perfect and most people wouldnt notice/care about that misspelling, I was just curious.
These fees are stupidly high. Back in 2011 everyone was onboard for low fees, fast transactions, microtransactions, but now its all been co-opted by MLM and 'get rich quick' types.
Cameron Ramirez
What percentage of people who invest in crypto actually care about the real world applications of the technology? At least from this board I get the impression that a lot of people simply think "I will be able to sell this shitcoin to someone for a higher price because others will think the same thing" and that is definitely reminiscent of beanie babies.
Brody Ortiz
>What percentage of people who invest in crypto actually care about the real world applications of the technology? Very small. The masses care about their coin mooning, but don't care if it's gone next year. But hedge funds care and are the ones with the biggest pockets investing.
Brayden Adams
but they sure are cute!
Caleb Butler
>beanie babbies = BTC
really makes ya think
Ayden Miller
>I mean, at the very end is full of cryptocurrencies with no fees and faster transactions to transfer money if you want to cut off banks. Bitcoin is also the current middleground between fiat and alts. You don't buy LTC and then trade it for alts (unless your alt is one of the few with a litecoin market) So until another coin replaces BTC as the middleground currency, it will continue to have a purpose in the markets. My vote would be for LTC to take it's place, but of course it could be replaced by anything.
Aaron White
Thanks.
Sometimes I make mistakes too, of course, or I post absentmindedly or tired (2:30 AM here) and I wonder if I "annoy" the english native speaker, but Veeky Forums is an international board after all, as far as it's not indian level english, we understand each other.
Jack Fisher
> the only way to send money with btc is if you buy a whole btc
Matthew Rodriguez
Yeah a fashion fad is the same thing as a brand new technology that's going to revolutionize several sectors of the world including finance, banking and the entire internet itself. Yep, nothing but the same kind of bubble.
