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Friday, April 12, 2013

Jan Brueghel the Younger's take on the bitcoin mania

Monkeys in contemporary 17th century Dutch dress are shown dealing in tulips. A satirical commentary on speculators during the time of "Tulip Mania", an economic bubble that centered around rare tulip bulbs. At left, one monkey points to flowering tulips while another holds up a tulip and a moneybag. Bulbs are weighed, money is counted, a lavish business dinner is enjoyed. The monkey at left has a list of rare tulips, his sword denotes upper class status. Farther back, a monkey sits like a nobleman astride a horse. One in mid-foreground draws up a bill of sale; the owl on his shoulder symbolizes foolishness and ignobility. Brueghel is not only ridiculing tulip speculators as brainless monkeys, the work is an object lesson for the folly of speculating to such an extent in such a transient thing as a mere bloom. In the denouement at right, a monkey urinates on the now worthless tulips; fellow speculators in debt are brought before the magistrate or weep in the dock. A frustrated buyer brandishes his fists, while at the back right a speculator is carried to his grave. [Source: Wikipedia article "Tulip Mania"]
Latest update from CNN: Bitcoin bubble may have burst


  1. Anonymous17/4/13 19:58

    The Europe experiment is lacking the scientific resources to come-up with a workable model...politicians are not logical...if fact, for them to be re-elected they must do/be just the opposite..if they do the right thing and they know this in their heart that it is the right thing, they will not be me this is the root problem with career polticians...they will do anything to remain in the game...there is no coach to say foul...wondering how this experiment will be looked at by history...a slow process of coming to their senses and eventually fixing the model into something that will last who knows how long...a failed least it will not go back to the begining...not possible...too much change has to occur to get to this point and beyond...oh well..we are all witnessing history...wondering what the critical mass is to start the chain reasction...anyone know???

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  3. Ah yes, the old "Pokemon cards/tulips/beanie babies are exactly the same thing as a global, fungible, divisible to 8 decimal places, decentralized, cryptographically-secured consensus network" argument.