Cryptocurrencies, Tulips, and Regulation?

By Evan Fowler Almost 400 years ago the Dutch were really excited about tulips. In a period of three years, a tulip bulb went from a reasonable value to as much as six times the average person’s annual salary. Today we look at Dutch people selling their homes to buy tulips as crazy (we literally call that bubble “Tulip Mania”). Yet, right now we are watching South Koreans sell their homes to buy a digital “currency” – Bitcoin. Everyone is talking about Bitcoin these days. “In terms of cryptocurrencies, generally, I can say with almost certainty that they will come to a bad ending,” Warren Buffet said during a Wednesday morning interview on CNBC’s “Squak Box.” Yet, Jamie Dimon, the JPMorgan Chase & Co. CEO, who earlier called the cryptocurrency a “fraud,” said last Tuesday: “I regret making” those comments “[t]he blockchain is real. You can have crypto yen and dollars and stuff…

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