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Bitcoin hype worse than ‘tulip mania’, says Dutch central banker

Alex Hern
London Guardian [1]
December 5, 2013

The former president of the Dutch Central Bank, Nout Wellink, has told students at the University of Amsterdam that the hype around bitcoin is worse than his country’s Tulip mania in the 17th century.

“Sooner or later the facade will fall”, Wellink said, calling bitcoin “pure speculation” and “hype” according to comments reported in the Dutch press.

“This is worse than the tulip mania,” he continued. “At least then you got a tulip [at the end], now you get nothing.”

Wellink’s comments follow a warning from the Dutch Central Bank about the risks of virtual currencies like bitcoin, which fall outside Dutch financial supervision laws.

Full article here [1]