Tulipmania: When a Single Tulip Could Buy You a House
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- čas přidán 4. 06. 2020
- All 3 parts of my Tulipmania series in 1 video.
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Wait, haven't you uploaded this before?
Yes. This is all the Tulipmania videos in one.
I am even more confused, it's not in the list of videos uploaded?
noice
It’s better that way, you don’t have to keep track of the videos, that’s y I liked the all in one Aztec video
At 6:00 you said 'thirthy' instead of 'three hundred' or vice versa. I love this vid btw, as an economist. Succinct and explaining.
@@MrRandomSuperhero Making numbers smaller as they really are? Yeah, sounds like the Soviet as well, lol
Excited for the NFT version of this video to come out.
@@DLF-do1gj the average price of an NFT has vastly decrease in value but I think it will be looked at as an influential moment in the future when we digitize and decentralize property ownership.
Yeah history tends to repeat itself.
And so here we are
@@biodtox now we really here
Bitcoin is going there
Not even 5 minutes in and I finally understand what an economic bubble is, I love this channel
Economic bubbles are easy to understand. The tulip bubble was very small and you could not buy an entire neighborhood for some tulips.
“You missed out on bitcoin” at least I can sleep at night
I wouldn’t be able to sleep at night if I DIDN’T own Bitcoin. Good luck staying poor.
@@ernstachildiyev8597 gigacope lol, enjoy your worthless nothing money
@@zorlockthewarlock5961 Are you referring to the US dollar, 20% of which got printer out of thin air this year alone, which has lost 94% of its purchasing power in less than 100 years? Or are you referring to the "fake internet money" which keeps making new all time highs every 3 years, and is more than 6,000,000 times more valuable today compared to 10 years ago?
@@MN-lx2ry and theres the giga seethe
@@zorlockthewarlock5961 If you had one bitcoin what price would you sell it for? Zero?
Me: it's 6am, I need to sleep
Also me: oh nice a video about tulips
Go get some sleep first and come back later. Your health is more important than my videos :)
I'm guessing you haven't slept since.
Your Alarm: Its 6am, wake up
"so they created futures contracts".
Me, an econ major: oh no. Ohhhhh noooooooo.
why?
@@Anemeethious Because they are more to do with gambling, much more, than they are to do with any kind of solid investment based on economics.
Just ask the unfortunate guy in Toronto a couple of months ago that loaded up on oil at 1 penny.....because what kind of system allows a person to lose on an investment with a spot price of a penny.
Because the computer system where he brokered was not set up for negative numbers, he somehow ended up owing millions the next day, from a trade account with only $70,000 and no overdraft. The broker, not the guy should be eating every dollar lost past his 70k in my book !
Murray Flewelling not at all futures have a very important role in finance and economics. What you have said is baseless, sure it can be used for speculation but the core purpose is to hedge risk against future uncertainty. And it does that job incredibly well
@@CatobisGaming Sure. The SEC plays a very important role in US finance as well. Just look at how they protect the good people at Wells Fargo from "real" criminals...lol
Murray Flewelling what you said has nothing to do with the utility of the futures market.
if you were an inn keeper during tulip mania you were making 2.5% of every tulip sale? damn that's the business to be in.
Tulip mania is my favorite episode in the economic history. No many how many times I hear the story, I always wanna hear more about it. This was one of the most knowledge condensed and understandable videos on that topic.
yeah i actually understand what a financial bubble is now because of this video
This is the most underrated channel i've seen in a while, why aren't more people subed?
Was thinking the same thing. Just found this channel the other day and subbed.
I thought this but some of his videos have very respectable view counts.
@@christopherflack7629 still only 100k subs tho :/
101k subs already! :D
I'M COMING FOR YOU NIKKITUTORIALS!!!
(For those who don't get it, she's the largest CZcamsr in my country)
Facts. But, give it time.
I love this channel's visuals. They only show what needs to be shown, there are no unnecessary frames. Great channel
Yes, visuals, BUT be informed. Many of us looking here, are the children of persons who have claimed to have been born in Austria-hungry.
I for one, wanted a closer and longer look at your maps.
My thurst is to find Ruthenia.
It would help many if you listed [and mapped] where the minority populations were.
Oh, Grandfather, where was your homeland?
You've told it better than my history teacher. And I'm even from the Netherlands
The Dutch are some of the most creative and innovative people to ever live. They created capitalism and polders, truly astonishing.
I know right? We're the best.
that's not capitalism
Philips NL stole my pension, they said prove it. Save your pay stubs on paper , don't opt for electronic delivery, if so create PDFs. When offered buyout of a pension take it, because the company they sell your pension to wants to eliminate it.
@@TundraXD 100% capitalism
this reminds me of a picture book i read when I was like six, this girl wanted to keep her tulip instead of getting a house and horses
I kid you not, the ad I had on this video was for a museum painting called Tulipmania. And because the painting needed some historical context, they basically TLDR'd the video in 2 minutes...
Who the heck gets an ad for a museum painting?
Someone brought this up in a NFT discussion and it was an interesting comparison.
To be honest, I just like the videos at the start now. You always know they'll be worthy of it.
I'm LOVING History Scope's content at the moment! Would love to see more and, keep up the good work!
Also,
This channel deserves more views...
Best video by far on the tulip bubble cheers!
He doesnt understand crypto and the economics of it. Bitcoins literally worth what it was when they said it was a bubble. Unlike bitcoin, there is literally an infinite amount of tulips that could be grown to flood the market. Bitcoin is mined at a consistent rate and there is finite amount that will ever exist. Tulips are literally grown in the ground.
@@alexanderledvina8743 the ones worth any money took 2 years to grow and even then only special tulips with the disease would be sold
@@seanyourhero1765 and how is that remotely analogous with bitcoin? It literally sends in minutes and you cant just make them out of thin air. There is economic costs to mining it and there will only be a certain number in circulation. Anybody who cared to watch and find seeds for tulips could grow them but the same cannot be said for bitcoin. It will cost you money to make more of them and there is a set limit to how many bitcoins there will ever be. Where is there a guaranteed limit for the number of tulips that can be produced? The key difference is in the supply part of 'supply and demand'.
The Tulip bubble was greatly exaggerated, and it was NOT the biggest financial bubble. Very few people in Europe were affected. The 1929 stock crash caused a bigger financial loss than the tulip bubble. Most of this is just fiction.
@@rs72098 this was the first bubble, that's what HS said, what's wrong with that?
I can’t help but see the similarities between buying tulips worth $300,000 and buying a picture of an ape with golden teeth for $300,000
Because it is the same
The term Yahtzee uses for this sort of thing is "cockup cascade": a series of mistakes that flow so seamlessly from one to the next that they end up coalescing into a single massive catastrophe.
G E K O L O N I S E E R D
There's always that one...
History Scope he makker. Waarom praat jij Angelsaksisch?
This is some really valuable content my friend. I love the simple animations and the way you educate us. Thank you!
Great work man. People deserve to see this
The first thing I thought of when I heard of NFTs. Great video, very informative!
As a Financial Econ graduate, I am laughing so hard . This is not only entertaining but also educational although I've heard already hundred of ridiculous situations in finance histroy. The presenter did a great job.
Splendid! An excellent presentation.
(And I didn't know before about the futures contract).
that dude tried to make non-fungible tulips
I remember when I first heard of this. Really helped me understand how absurd economics can be and generally are lol
So glad i stumbled upon this channel, Fantastic content thank you !
Amazing Video always Love the animations
Started watching the videos, good research you did and informative. Keep going
High quality content. Love it
Thanks for the info and great presentation/animations
Incredible quality! Subscribed!
Sounds a lot like the beany-baby craze of the late 90's. That was an artificial inflation of prices, but so many people bought them solely on the assumption that they will be worth a profit in the future.
Same exact thing happened with comic books in the early 90’s speculator boom. When that bubble popped, many comic companies shut down, numerous comic shops closed there doors forever, and even Marvel themselves had to declare bankruptcy at one point.
Thanks for doing something like this. CZcams, for some reason, doesn’t always recommend the next part of a series, so it’s great that creators like you are committed to making watching series easier for your viewers.
Loved this video ty
I held off on watching this video, but I’m glad I watched it. Thank you, sir; God zegene je.
Tiptoeing thru the tulips would have been frowned on in those days.
The important thing to learn is the biggest winner was the house who got 2.5% of all of the speculation while facing zero risk.
Exactly
Amazing editing and presentation
I think the culprit in this and similar bubbles is the speculation, the expectation (completely removed from actual need or demand) that any sale will always happen at a better price, which can only happen if motre buyers join the trade and put fresh money into it. As soon as a larger number of traders wants out, the direction of the price development only can go down.
Hell yeah my favorite topic, bubbles.
Fantastic video - thanks!
Excellent presentation!!!
This is brilliant
“And electronics are valuable so you can watch my videos.”
Well done.
great work !! subbed !!
How do you do to still have only 80 000 subscribers!? Your channel should have AT LEAST 500 000!
Love your channel ❤️
I absolutely love the videos on your channel. I've only recently discovered it and noticed a stark difference in audio volume and quality in some older videos though. One video will be louder by a very noticeable margin.
love the way you say tulips
The tulips will be reunited
OMG ... this is gonna blow!!!! Blow like a bubble! Nice and important video!
I had a ad for tulipomania and the painting depicts Dutch merchants as monkeys, as a Dutchman i am very offended.:-D
Sjw
Great video.
Extra History is currently putting out a series on this same subject. I love seeing different takes on the same points in history.
I also recommend watching Extra History's series on The South Sea Bubble (it was Walpole), and their series on The History Of Money.
Really masterpiece
Ohh.. so this is how the dutch got so good at growing flowers
Were tulips expensive back then? or are they just on sale right now! Buy the dip!
Do a video about the VOC!!!!
I have always been fascinated about the VOC, read some articles here and there, but was always too lazy to buy an actual book to read about it
Fun story to tell at a party? What kind of parties do you go to?
The cool kind!
None, since here is a Lockdown around.
The tulips kind.
i think its interesting story to tell someone, and see if they are on the same tulip vibe or not
thank you for sharing
AKA NFT Mania
Just like bitcoin they only had 21 million tulips in the world
lol
Sometimes bubbles takes decade's to explode.
Great vid
Love from Portugal 🇵🇹
After 4 years, I finally understood the 2008 crisis with this video :] thanks!
Tulip Mania = Marijuana business
This was fascinating the first time I had heard about it. Still fascinating.
Thank you history scope for teaching me the cause of an economic crisis I’m just eleven at the moment and I really appreciate your content, there’s always several things I’ve never heard before in your videos.In this case I didn’t even know the event existed! So once again Thank You!
Blaepic123 Compliments from a Dutch man, because at just eleven your English writing is way better than most here replying.
"Venezuela has joined the chat"
thanks i had to do a report on this it was super helpful
Great video
the question remains, whats the real value of things in any given time? go ask gold.
But what was the inherit value of a tulip bulb? To grow flowers in a small domestic garden? To make colorful flower arrangements? How much could these uses have been worth? So. long before the prices reached their peak, merchants and speculators were paying far more money than any conceivable use for the tulip bulb could possibly come close to generating. How could this discrepancy have been ignored by so many in a culture that practically defined business acumen in Northern Europe during the 16th and 17th centuries?
to know the value you have to compare it to gold in history, gold is a central commodity and money. the reason why the dutch had the bubble was because they had no past reference to this commodity in gold prices. or else they would have known the prices were too high, same now with a new stock or technology etc
Massively underrated channel. Please never stop posting these great free knowledgeable and interesting videos we can watch.
Only sure thing about history is we are doomed to repeat whatever idiotic thing we've done in the past, again, and again, and again.
4:30 Oh my god it's a EULA. Licensing in the 1600's !
10:38 Also Anime-esque rank inflation.
Now we know when Bitcoin bubble will burst - at price tag $483.400
All that for something that rots within days.
give in when the fad is young and buy some popcorn to watch everything catch on fire, got it
Mind blowing
That's when you just buy up all the tulips and store it in your basement!
A new bubble is forming as we speak.
Avery, Can you do a series on Japanese Window Guidance?
These are like the sneakergame then lol
"Preorder" sneakers that you don't have on hand yet and sell them to buyers later on
It's a lack of regulations
Watching from Japan 😊
Love y'all
THANK YOU.
"Economic bubbling" is what we loosely refer to as, "Getting too big for your britches" here in the south US.
*having too many slaves. Stfu you slave owning confeds
@@mohit_panjwani ahh living in the 1850’s I assume?
@@mohit_panjwani Less than 1% of people owned slaves. It would essentially be the likes of Elon musk or Bill gates...
Now i understand history
1:07 One BT costed you ... Costed is a Finance and accounting jargon, otherwise the past participle and past tense of 'to cost' is cost. you can use costed as past tense and past participle only if the root verb is being used to mean 'to determine or estimate how much something will cost you' !!!
"must of dropped nearly 95%"
lmao those some rookie numbers
damn bruh this shit crazy as fuck
Psychologically damaging social media companies being a multitrillion dollar industry is tulips. Welcome to my heaven, part of which naturally must also be your worst hell.- XX
just it probably never happened
like the story was told for hundreds of years
but eh the published counter research on that is just a couple of years old...
Nice 👍
In 2013 bitcoin reached 1,200 a coin and then it collapsed to 130 dollars and that was the end of that bubble... or was it?
yeah persona 4 taught me this oddly enough nice to see it expanded upon
Same Persona 4 is one of my top 10 games.
South seas bubble is another research product.
Regarding trust, JFK's family dipped out the stock market when he got a shoe shine and the kid working the polish was talking about their own hot stock tip
One thing I never understand (sorry if I missed it). BTC doesn't go bad....flowers rot after, say, a week?
How does an economic bubble even form over an item whose value is zero after a few days?