Yes, I know what happened in 1637 with the tulip craze. But I think the crypto will last a lot longer because of its usefulness. Bitcoin can be used at multiple online vendors, and can be sold for cash quite easily. I suppose once people lose faith in the system it will crash, but the same can be said for fiat currencies or stocks.
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"but the same can be said for fiat currencies or stocks"
Behind a share stands a company and behind it employees, infrastructure, financial resources ect-> substance. You can not compare companies like Siemens, J & J, Exxon, Nestlé, Wal Mart, Pfizer, Visa ect with Crypto currencies. Siemens gabs with the German D-Mark and they are today with the euro. And should there be no more EUR ... Siemens remains. And that applies to X other companies. But not for bitcoins. Bitcoins have come and they will disappear again. There are X companies that exist over 100-150 years . There have been over 3,600 currency reforms in world history.
And please remember this quote:
"Give me control of a nation's money and it interests me
not me who makes his laws. "
The Bitcoin disciples will wake up early enough from your Utapia.
P.S.: And behind Fiat-Money ist the the money nobility, the central banks...they will not giv the power out of the hand
Ok, thats a good point. I guess we should just keep a close eye on bitcoin so we can get out before any crash.