Is Bitcoin just another Fad?
In this conspiracy theory we will take a look at weather bitcoin is just another Fad.
Throughout modern history there have been many different fads.
The history of fads is an astonishing view into the human condition.
Fads in the last ten years.
From the Cabbage Doll to Pokemon Go, the history of fads runs deep.
Cabbage Patch Dolls
A man by the name of Xavier Roberts created the doll. In 1982 he signed a deal with Coleco to produce them. Then in 1989 Hasbro bought the rights to the doll. Later in 1989 Mattel’s had the rights and they sold the dolls through Toys R Us the giant retail toy chain.
The dolls had wool or yarn for hair. They had a chubby face, cloth bodies with a vinyl face and were around 16 inches in height.
The original dolls sold for $30 dollars, but during the craze they were selling into the multiple hundreds of dollars. It seemed that everyone needed to have at least one of these dolls.
Fads Come and Go’
I myself can remember this fad since we had small children at the time and my wife picked up one for our daughter.
My wife says she still has it put away somewhere.
Yo-Yo’s were another fad that I can remember around that same time period. Every child wanted the best yo-yo available to impress their friends.
You know that circular wooden device with a string that coiled up In the center as you repeatedly flung it out and brought it back in. You don’t see many children playing with these today.
Lego’s
These are rectangular blocks that you can use to make all kinds of different things with. From houses to cranes for lifting toys with. If you have an original set of these they are worth into the hundreds of dollars.
These are just a few of fads that are no longer really that relevant. These fads revolved around toys.
Is Bitcoin Money or a Fad?
Now I would like to compare the Bitcoin to another Fad back in our history.
That was the Tulip Mania.
In case you are not aware of this one, it took place in the country of Holland. What transpired there is an example of a fad that got out of control.
The Tulip Mania
This took place in the country of Holland. Tulips are a relatively rare flower. The tulip bulbs are one of the most popular of the garden flowers. And thus are coveted by botanical gardeners. It is especially appreciated because of the beautiful colors that they come in.
The Craze happened between the years 1633-1637, these tulip bulbs became the thing to have and even to give as gifts during special occasions. Do to their popularity they began to become scarce.
As a result the prices on them began to rise dramatically. Soon people in the middle class took notice.
Now with the rising prices the ordinary people in the middle-class and even the poor wanted to speculate on this Tulip Market.
Some varieties of the bulbs sold for hundreds of dollars each. It doesn’t take much to imagine the temptation for these people at that time.
The Get Rich Quick Mentality
It seems that man has always been plagued with this weakness. The lure of gaining wealth without the struggle. This is the business model of the Gambling Industry out there.
Who among us doesn’t want to make a killing on a small investment? Well the people back then were know different.
The Bitcoin Mania
Do we not see the same forces at work currently with Bitcoin? As the price of bitcoin rises, more and more people will want to get involved. Many of these people will no doubt take chances, and even use borrowed money to get some bitcoin.
This is how these manias are created. There’s a term used often these days with people involved with the digital currencies and it’s called FOMO or Fear of Missing Out’.
FOMO
FOMO works on the same principles as when those people in Holland were attempting to make a fortune during the Tulip Mania. As people hear of the stories of those who have profited for the Fad. These individuals become more motivated to get aboard as they fear that they will miss the train, so to speak.
The problem with this is that most of these late comers to the party will not have done any home-work or even understand what they are getting involved with.
They won’t know anything about the block-chain, and how it works. Or the Distributive ledger, and what that’s all about. Most likely like with the Tulip Mania, they will just put their hard earned money on this digital coin.
It may or may not pay out for them no one can say for sure. But in these days of so many scams I think the prudent thing to do is to research first, to know what you’re putting your money on.
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