The 17th century tulip market was a precursor to Wall Street

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We are the generation that was born in the era of 9/11, the dot-com bubble, the real estate bubble, Putin and Trump, Brexit and Catalonia — the forthcoming largest wave of unemployment due to the introduction of AI and robots; You can forbid us everything and take everything away from us. But, to be honest, we have nothing. The previous generation fucked everything up before us.

The new-generation blockchain/crypto/ICO entrepreneurs are becoming the new rock-stars in the eyes of modern society. And if thousands of investors only see profit (or bubble) in those, millions of unbanked customers and “Snapchat generation” see Hope and Changes.

The new entrepreneurs picked up the flag of a social revolution fallen from the hands of rock-musicians. Hendrix, Morrison, Cobain and Winehouse made it to a “Club 27” — for the new rock-stars 27 is the average age of a startup’s founder. Blockchain developers and the rest of the new wave examples – all of them are building their own, not copying old Forbes billionaires. The great empires are built on this social class: these people have a wild hair up their ass – they are restless and they never let anyone sleep. They are more than just successful entrepreneurs – they are new rock-stars.

Also listen: [e27 Podcast] ICOs will co-exist with venture capital, says Datum CEO Roger Haenni

Do you call us a “bubble”? Ok, then we are The Bubble Generation. Blockchain/crypto/ICO – our new rock-and-roll. Vitalik Buterin is our new Kurt Cobain. Stop blaming blockchain/crypto/ICO community — or better join us! We aren’t going to cheat anyone over – but we can be wrong (because you can’t do anything new without making mistakes!).

In order to make fewer mistakes and our mistakes not to be so dramatic, we need help from you, from other bankers and regulators around the world! We are not against rules and regulations – we are just for creating new ones (with your help? or resistance?) because the old rules do not fit the new economy.

We are open and we want to communicate. Without communication and with harsh criticism and pressure, this (huge in its size!) industry will move from the current “gray” zone not to “white”, but to “black” one. And then this underground will really become a Big Problem! For everyone.

We need more open-minded experts (and female-leaders too!) like IMF Managing Director Christine Lagarde. It’s time for the world’s central banks and regulators to get serious about digital currencies. Global financial institutions are taking risks by not understanding emerging financial tech products that are already starting to shake up the financial system, according to Lagarde. “I think that we are about to see massive disruptions.” “I think we should just be aware of not categorizing anything that has to do with digital currencies in those speculation, ponzi-like schemes,” she said. “It’s a lot more than that as well.”

If people so actively took up defending their rights and freedoms, as they do ICO, then we would live in a marvelous new world. Let’s try to fix it by trying to formulate the questions that concern us, the problems that we would like to be solved, and the principles on the basis of which we see that it is possible to find consensus and dialogue. We don’t want to fight, we want to build.

Some have likened the Bitcoin/Ethereum/ICO craze to Tulip Mania, believing that the bubble is getting ready to burst.

But what was Tulip Mania?

One of the curiosities of the 17th Century tulip market was that people did not trade the flowers themselves but rather the bulbs of scarce and sought-after varieties. The result, as Dash points out, was “what would today be called a futures market”.

Also read: Where will the ICO fever lead?

Tulips even began to be used as a form of money in their own right: In 1633, actual properties were sold for handfuls of bulbs. As people heard stories of acquaintances making unheard-of profits simply by buying and selling tulip bulbs, they decided to get in on the act – and prices skyrocketed.

Things came to a head during the winter of 1636-37, when tulip mania reached its peak. Some bulbs even changed hands up to 10 times during the course of a single day. And then, overnight, the tavern trade disappeared. In early February 1637, the market for tulips collapsed. This was because most speculators could no longer afford to purchase even the cheapest bulbs. Demand disappeared, and flowers tumbled to a tenth of their former values. The result was the prospect of financial catastrophe for many. Disputes over debts rumbled on for years.

Today the tulip continues as a mainstay of the country’s economic life

… but it plays a much more important role as the cornerstone on which Holland’s leadership as the largest purveyor or plants and seeds in the world is built.

It all takes place at FloraHolland, the world’s largest flower auction, where today more than half of the world’s flowers move from grower to distributor and then on to you, the retail customer. It is indeed Holland’s “Wall Street for Flowers.”

Royal FloraHolland is a showcase for Dutch expertise in logistics. More than 12 billion plants and flowers — including more than 90% of Holland’s own output — change hands each year at Royal FloraHolland’s four marketplaces throughout the country.

The contribution to Holland’s economy is profound: More than 250,000 jobs are the product directly and indirectly of the flower markets. The country continues to be the largest player with a 52% share in global exports of flowers and plants. Some 77% of all flower bulbs traded worldwide come from the Netherlands, the majority of which are tulips.

“I do not believe the introduction of motor-cars will ever affect the riding of horses,” said Mr. Scott-Montague, MP, in the United Kingdom in 1903. Ok, bubble, in which term is your brain capable of seeing the horizon and in what prospects are you able to look at the picture? As the saying goes: You need to have the courage to lose sight of the horizon in order to discover new lands.

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