{"id":19980,"date":"2018-01-23T01:00:59","date_gmt":"2018-01-22T14:00:59","guid":{"rendered":"https:\/\/www.realestatetalk.com.au\/?p=19980"},"modified":"2018-01-23T01:00:59","modified_gmt":"2018-01-22T14:00:59","slug":"what-do-tulips-have-to-do-with-bitcoin","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/what-do-tulips-have-to-do-with-bitcoin\/","title":{"rendered":"What do tulips have to do with bitcoin?"},"content":{"rendered":"

Did you know that back in the 17th Century tulips were seen as \u201cassets\u201d that could make you rich?
\nIn fact, according to various accounts, the demand for tulip bulbs in the Netherlands in particular soared from the early 1600s to 1633, when \u201cTulip Mania\u201d hit and sent prices soaring.
\nBefore that period of time, the tulip trade was restricted to professional growers, but the rising prices meant that ordinary middle-class and poor families started to speculate on the tulip market.
\nHomes and estates were mortgaged so tulip bulbs could be bought to sell at even higher prices.
\nSales and resales were made many times over without the bulbs ever leaving the ground and rare varieties of bulbs sold for the equivalent of hundreds of dollars each.
\nBy 1637, it all came crashing down and almost overnight the price structure for tulips collapsed, reportedly leaving many bankrupt.
\nToday, \u201cTulip mania\u201d \u2013 and the term \u201cthe madness of crowds\u201d \u2013 are often used metaphorically to refer to any large economic bubble when asset prices deviate from\u00a0intrinsic values<\/a>.<\/p>\n

So, what do tulips have to do with bitcoin?<\/h3>\n

\"Bitcoin
\nWell, if you ask me, there seem to be more similarities than differences.
\nBoth \u201cassets\u201d don\u2019t really have an intrinsic value apart from an increasing number of people who want to \u201cinvest\u201d in them.
\nJust like the tulips that were bought and sold without ever coming out of the ground, you can\u2019t touch bitcoin, which means I\u2019d never personally invest in it.
\nThe argument against this may be that you can\u2019t touch shares, but shares are attached to a real entity that exists in time and space \u2013 and is also regulated.
\nBitcoin has increased in \u201cvalue\u201d by more than 2,000 per cent in the past 12 months, which is motivating many mums and dads to buy because of the promise of massive future profits.
\nSure some people who bought bitcoin at the very beginning may have made some money, but when\u00a0FOMO is the motivation<\/a>\u00a0to invest you can be sure that your results will likely leave you wondering why you got caught up in the madness to start off with.
\nThe lack of regulation \u2013 while attractive to a certain element of society \u2013 is also a concern because if (and when) it comes crashing down there will be nowhere to turn but perhaps your own gullibility.
\nLikewise, given it\u2019s a crypto-currency \u2013 meaning it exists in cyber-space and literally nowhere else \u2013 that means that it could be here today and gone tomorrow.<\/p>\n

So where should you actually be investing?<\/h3>\n

Sound\u00a0investment principles<\/a>\u00a0include investing in assets that have a proven history of performance.
\nOf course real estate is one, given its long and stable background of recording capital growth and returns for investors and homeowners over many generations.
\nWhile Australian property has experienced periods of peaks and troughs \u2013 often due to external factors like world wars or global financial crises \u2013 over the long-term its results are positive.
\nSuccessful wealth creation is about investing for the long-term in a slow and steady manner.
\nNot riding a rollercoaster which inevitably will end up where it started \u2013 with far too many people left scratching their heads trying to work out what just happened to all of their money.
\nDisclaimer:<\/em><\/strong>
\nThe information provided in this article is general in nature and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information you should consider the appropriateness of the information with regard to your objectives, financial situation and needs<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Did you know that back in the 17th Century tulips were seen as \u201cassets\u201d that could make you rich? In fact, according to various accounts, the demand for tulip bulbs in the Netherlands in particular soared from the early 1600s to 1633, when \u201cTulip Mania\u201d…<\/p>\n","protected":false},"author":176692471,"featured_media":19981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2,13,25],"tags":[70],"class_list":["post-19980","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-andrew-mirams","category-latest-story","category-sponsored-channels","tag-featured"],"yoast_head":"\nWhat do tulips have to do with bitcoin? - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/what-do-tulips-have-to-do-with-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What do tulips have to do with bitcoin? - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Did you know that back in the 17th Century tulips were seen as \u201cassets\u201d that could make you rich? 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