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David_Gerard comments on Open thread, Oct. 6 - Oct. 12, 2014 - Less Wrong
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At least with tulip bulbs you can, like, grow tulips.
In five years the go-to example for speculative bubbles that popped might be bitcoins rather than tulip bulbs.
At least some recent research suggests that the Dutch tulip bubble was in fact a tulip contracts bubble, which expanded when legal changes converted commodity futures contracts to options and collapsed when authorities halted trading.
Is there an important difference between a tulip contracts bubble and a tulip bubble?
Sure, there's the question of whether any actual tulip bulbs were exchanged.
My understanding was that it started as a minor bubble in tulips, expanded into a massive bubble in tulip contracts, then collapsed massively. Is that different?