Famous First Bubbles
by Peter M. Garber · first published 2000
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…supply was able to increase to meet demand. If you really want to compare Bitcoin to Tulipomania without embarrassing yourself, you should read some modern historical work on Tulipomania like Garber's Famous First Bubbles, and not an utterly obsolete polemical work by a hack. I've summarized some of the relevant facts in http://www.reddit.com/r/Economics/comments/1bm9fl/the_bitcoi... & https://plus.google.com/115274377971493973150/posts/1qWmh7Cq...…
on “Bitcoin is a Startup” ↗…Only diseased bulbs were valued by traders, because a particular pattern could not be reproduced through seed propagation. Only through budding of the mother bulb would a pattern breed true." - Garber, Famous First Bubbles https://www.aeaweb.org/articles?id=10.1257/jep.4.2.35
on “Tulip mania: the classic story of a Dutch financial bubble is mostly wrong” ↗…https://old.reddit.com/r/AskHistorians/comments/i2wfsm/i_am_... * Book talk: https://www.youtube.com/watch?v=YLl3Ijb01I0 Garber does have it though, along with Mississippi and South Sea: * https://mitpress.mit.edu/9780262571531/famous-first-bubbles/ See also perhaps Perez's book on tech hype and bubbles (starting with Canalmania): * https://en.wikipedia.org/wiki/Technological_Revolutions_and_...
on “Tulip mania: when a single flower was worth more than a house” ↗