After the bust, are bitcoins more like tulip mania or the Internet?

Digital tokens may be volatile, but their value has created incentives for people to work on fixing flaws

When you talk to tech industry insiders about where bitcoin is heading, two vastly different comparisons are inevitable: the tulip bulb and the Internet.

Bitcoin's critics say the digital tokens are like the tulip bulbs of 17th-century Holland. They generated a wild, speculative rush that quickly disappeared, leaving behind nothing but pretty flowers and wrecked bank accounts.

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A version of this article appeared in the print edition of The Sunday Times on April 28, 2019, with the headline 'After the bust, are bitcoins more like tulip mania or the Internet?'. Print Edition | Subscribe