The Worlds First Financial Bubble? - Tulip Mania - European History - Part 1 - Extra History

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Amsterdam, The Dutch Republic, 1630. Here Tulips are all the craze! You want them, your mom wants them, even that ship merchant across the road wants them! But, we're not planting them in our gardens. We're INVESTING! Triggering the first-ever "financial bubble" from these Nice Flippen Tulips.
--- Miss an episode in our Tulip Mania Series? ---
Part 1 - NFTs (Non-Fungible Tulips): • The Worlds First Finan...
Part 2 - Farming Gold: • Farming Gold! - Tulip ...
Part 3 - To The Moon: • To the Moon! - Tulip M...
Part 4 - The Crash: • The Crash - Tulip Mani...
Part 5 - Eternal Madness: • Eternal Madness - Tuli...
Series Wrap-up / Lies Episode - • Tulip Mania - LIES - ...
Music From the Show - "First Financial Bulb!" - • ♫ Tulip Mania: "First ...
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♪ Music by Demetori: bit.ly/1EQA5N7
♪ Outro Music: "First Financial Bulb!" by Tiffany Roman
#ExtraHistory #TulipMania #History

[@extrahistory]

Want to skip the ads all while supporting the show?!?! Then why not try Curiosity Stream & Nebula! Use our link below to get a full year for 42% off! curiositystream.com/extracredits​

[@pyeitme508]

B

[@rstidman]

You asked what I pictured when I think of Holland and I thought immediately of Anne Frank...

[@infminuseight]

adblocker be like

[@xyvazkrown8048]

I feel like EC got caught up in the block chain craze with that one episode, and I was hoping that maybe you guys could do a comparison of "block chain" implimentations and how they compare to traditional implementations. Like what does a blockchain have over a database, with security keys?

[@wesleystrange5468]

Y’all should do a video about king author and the knights of the round table

[@Shoreknight]

You see, the difference is a tulip is far prettier than an NFT.

[@janmelantu7490]

Giving your significant other a bouquet of Tulips is very romantic. Giving your significant other a bouquet of NFTs is…let’s say significantly less romantic.

[@_fedmar_]

Investors in the 1600s: Tulips are nice and pretty Investors in 2022: *meem*

[@DragoniteSpam]

@@janmelantu7490 Let's be fair, giving your SO a bouquet of aesthetically displeasing apes is a good way to speedrun the breakup process and save everyone involved a lot of wasted time. /s or something, I'm not sure I can tell anymore

[@ecurewitz]

And you could actually hold one in your hand

[@redjarvis]

And I am not irritated by people who buy tulips

[@shadiafifi54]

Heh. You guys did a video on Tulip mania just as the NFT market is crashing hard. I can't help but love the timing.

[@DragoniteSpam]

Especially since it's been in the queue for months beforehand. Fate has a funny sense of humor.

[@AnimeOntheRoof23]

Irony is so delicious at times.

[@bbirda1287]

Always one poor chump at the bottom of the pyramid left holding the bag.

[@Carewolf]

@@DragoniteSpam Well, the market has been crashing for months by now.

[@CarrionCrow993]

Is it?!?! Imma head to the news right now! 🤣

[@Artur_M.]

I believe that the sentence "It's just the details of the popular version of the story are fundamentally wrong" is more or less applicable to the majority of history.

[@DragoniteSpam]

History need some particular narrative properties to make it latch onto peoples' minds. To an extent even EC is guilty of bending the story to make it fit nicely into five/six videos, although I like to think they put things in context more often than not.

[@TheRealE.B.]

​@@DragoniteSpam Speaking of which, EC has their Lies episodes, which are genius and really need to be emulated by other media creators: Give a simple narrative up front, and then do a more nuanced take once everyone's gotten the basics.

[@DragoniteSpam]

@@TheRealE.B. Definitely! It also sets up a good way to issue corrections on the videos regularly, which is a thing I think a lot of other nonfiction KZbin channels could benefit from doing more of.

[@Aserlotl]

*cough* Christoher Columbus *Cough*

[@cpt.mystic_stirling]

Think of the tigers in the western front, except they were mostly panzer 4s or lesser to even panzerafausts being reported as tiger kills Now imagine the entire history. Your life is a lie 🙃

[@rennor3498]

Fun fact: One of the main reasons tulips became such a commodity in the Netherlands was because their soil was particlarly suited for plants such as flowers. The seabed created from land reclamation with a mix of rain,sunshine and clever management,has created a unique type of fertile soil which although not good for farming crops is perfect for a plant such as a tulip. To this day the Netherelands account for 80% entire world tulip production.

[@rstidman]

the reason tulips became so popular is because you get high as sh-t if you eat them.

[@ironrocker100]

@@rstidman pretty sure you're thinking of Poppies mate

[@robertb6889]

@@ironrocker100 Most common poppies can be used to extract opium. So your mom's garden - may be a mini drug plantation.

[@cristianvandenbosse8989]

@@ironrocker100 The inhabitants of the Big cities wouldve been high when they didnt have food otherwise.

[@bobross547]

@@ironrocker100 yup dere do dun diddly b dun dere opium n dem poppies -man after opium

[@jticklemaker1265]

As far as I know a few rich people lost some feathers in the mania but the economy was not as interconnected as it is today, so the consequences were small for everybody else

[@powerist209]

But it did cause impact on economic policies in other countries. Ottomans decided to regulate the guilds once their own Tulip mania started.

[@WrensthavAviovus]

@@powerist209 sounds like someone heard about the get rich quick scheme and was trying to run with it before the authorities caught on but the authorities already knew.

[@marcusfranconium3392]

True , the number of bulbs , vouchers ,people that could actualy afford them was limited . Also the money wasnot gone as the money invested was in the pocket of some one els. Still its funny how people still fall for financial bubbles 400 years later. the housing market of 2009 for example .

[@thommyneter168]

Yes, in this series he is probably going to address this

[@RobMarchione]

Funny story, I once ate a wild tulip thinking it was a wild onion. I know that man wasn’t just regretting the price tag a few hours later.

[@trla6505]

Is eating raw onion common?

[@stevejakab274]

Sweet onions can be eaten raw.

[@The_Practical_Daydreamer]

@@trla6505 I think tulip bulbs are mildly toxic. Intestinal distress.

[@jemmaisweird]

@@The_Practical_Daydreamer idk didnt a bunch of people eat them after wwii? ive heard they dont taste very good

[@The_Practical_Daydreamer]

@@jemmaisweird Some types of lily have edible bulbs. Of course, hunger is hunger, and a sick stomach is better than an empty one.

[@StRodeNL]

As a Dutchmen qualified in history, I have to say this video is very wrong about the Dutch Republic obtaining its wealth from the VOC. In fact, the VOC wasn't very significant until the 18th Century. What made the Dutch Republic such an economic powerhouse was the trade with the Baltic. The Wheat trade was still by far the largest in Europe and the Dutch economic system (which was way ahead of its time) was especially prevelent in the trade with the Baltic, not with the East Indies. It's a very common misconception, but I feel like this is important enough to point out as it disproves a lot of points about 17th Century trading all being about spices.

[@marcusfranconium3392]

Partly true , the big east trade was the baltic trade , the VOC wasnt profitable till Mid 1620s . Spices where just a small part of the far east european trade .as most of the VOC trade was conducted in the indian ocean china Dutch east indies and japan. Complex trade routes , between regions . goods from one area to another.

[@sijmenvedder2566]

Thank you! I was looking for someone else who noticed this mistake. It's really annoying that people keep thinking that the Dutch Republic became so rich because of its colonial trade, even though it was only around 5% of the gross national income at its highest point. And that was only during the 18th century and not during the "golden age"!

[@marcusfranconium3392]

@@sijmenvedder2566 True the infrastucture was already in place and the low countries ( including belgium ) where part of the hanzeatic league as well. the 17th century was a war fille era that drained much of the wealth brought in as was the building of fortifications trade post . the 18th century was the time when the seeds that where planted got harvested. .

[@cfv7461]

Ok but the video literally says that almost everything there is wrong, maybe it includes that

[@albertofrankdiaz6664]

This goes for the lies video 😀👍

[@xjayy1613]

*time travels to the past* "Brother, have you heard of Non-Fungible Tulips? They're the next best thing bought with the superior windmill powered currency, Dutchcoin!".

[@ArkadiBolschek]

_We gaan het allemaal redden!_

[@petertrudelljr]

I'm sorry, I prefer the latest currency from the leaders of Venice and Genoa, Doge-coin.

[@xjayy1613]

@@petertrudelljr LOL, this made me laugh!

[@Dragon-Slay3r]

Thanks hence volcano

[@Merennulli]

Loving the Non Forgettable Terminology you used here. My impression of the Tulip Mania is similar to that of modern digital bubbles, in that the speculation market for them is crazy internally, but the percentage of people involved and their average level of investment is greatly exaggerated.

[@adrianbourceanu9145]

To be fair, exaggeration is also part of the strategy of those who take part in an asset bubble. Trying to paint something as "the hot new thing everyone wants to own" and claiming that it can make you rich very quickly is a good way to attract others that you can sell those assets to.

[@WingofTech]

I feel like the internet just magnifies the hyperbole we experience in the media. lol

[@mjbull5156]

Well, tulips are not useless. They have aesthetic use in gardens. The problem is when you get speculative prices that are all out of proportion with any practical use of the commodity.

[@kevinsworldK.w69]

He litreally says this in the video though

[@JasminUwU]

Or you could just eat them because they're just an onion

[@stevejakab274]

Yeah; saying they had value because they existed and people liked them is like saying beanie babies were valuable for the same reason. The issue isn't that they had no value, it's that the perceived value far outweighed the actual value due to speculators.

[@DragoniteSpam]

Amusing how our imagined version of Tulip Mania is a better analogue for modern asset bubbles than what actually happened. I wonder if that says more about us today than it does about people during the 17th century.

[@Goldenself]

That tends to happen with histories

[@ianbrewster8934]

My friend they have used the tulip mania bubble in so many economics classes and people keep repeating the same mistakes over and over and over again....

[@fictionfan0]

If anything, it just means we're stickers for good yet strange stories, so the stranger, the better.

[@carloscaro9121]

That tulip in the cold opening was more secure than most of these NFTs.

[@Sorcerers_Apprentice]

Even if the tulip lost value, you at least still had a nice looking flower that you could clone from bulbs. An NFT doesn't do anything on it's own, it's just a glorified picture file with a serial number attached to it.

[@ShneekeyTheLost]

@@Sorcerers_Apprentice Actually, it isn't even that. It's just the serial number that is the NFT. The picture file associated with it is technically not part of what you are purchasing.

[@Dragon-Slay3r]

@@Sorcerers_Apprentice it true. How much would cloud nfts be worth? Lol

[@ObliviAce]

FINALLY! As a dutch person, you don't know how much i WAITED for an extra history video covering dutch history. I'm so happy!

[@ReddoFreddo]

Dutch people love it when you make a KZbin video about their country in English

[@BastiPROTON]

@@ReddoFreddo i know! Crazy isn't it (can confirm, am Dutch myself)

[@hurgcat]

really hoping for another 30 years war vid but more focused on the dutch republics new found independence from spain

[@extrahistory]

[@hoedjesman3852]

Yayyy, Dutch history!!!! As a Dutch person myself I am absolutely stoked!!

[@sneebysneeb]

@@rstidman what?

[@sneebysneeb]

@@rstidman why do you dislike holland so much?

[@hoedjesman3852]

@@rstidman i find it hard to take criticism on intelligence from an American who probably hasn’t visited the Netherlands and certainly hasn’t taken the time to get to know people there.

[@ChrMuslimThor]

Stoned*

[@Pascaffa]

@@rstidman why are they intellectually void? Because the first bubble burst happend here. At least we don’t sell different type of morgages together that can cause a financial crisis

[@terriblejokefactory8831]

The NFT jokes are so damn good

[@extrahistory]

[@danielwalmsley1824]

@@extrahistory how have you done this

[@EfrainMan]

Oooh, EC you played me with that fib of a part 1! You might say it was a Nasty Flippin' Trick!

[@fletchercobb4398]

The subtle nods toward NFTs throughout it is hilarious. Nice Flipping Tulips

[@ArkadiBolschek]

7:47 I'm glad I cheated: that sloth was the cutest ^^ Also, loving all the NFT puns. Keep up with the good work, lads. Edit: at least the Dutch went crazy over some really pretty flowers. Those awful computer-generated monkeys are an affront to humanity.

[@extrahistory]

Cheater!

[@user-zl1vh4pg1x]

I could only visually picture a square ;-;

[@GamesbiteRtDL]

The status symbol of tulips is basically one big flex that everyone accepts

[@2782Jack]

I suspected the story about the sailor was false because when I was little, I tried to eat a tulip bulb thinking it was an onion and after one bite I realized my mistake. but now I'm wondering if selective breeding just means that hundreds of years ago that's roughly what an onion tasted like. really bitter.

[@nicholasthesilly]

Nah, Onions have been farmed since the dawn of agriculture. They've always been pretty tasty.

[@misschief673]

Yeah, that was the detail that made me a bit suspicious. Onions and garlic belong to a group that all have that particular flavor. It's a pretty good way to identify them.

[@stevenn1940]

@@misschief673 plus, all bulb flowers are poisonous to mammals (and double checking, true for tulips and the poisons are actually concentrated in the bulb). I recently learned this to see if bluebells could be fed to rabbits. Unilaterally, no. So, yeah, if he had eaten a tulip bulb, he probably would have been bedridden Edit: I haven't checked how close tulips and onions are genetically, but I'm going to guess they're pretty decently seperated. Then again, potatoes and nightshade are fairly close

[@UtahSustainGardening]

The wild onions are known as being particularly tasty.

[@Darkgun231]

@@UtahSustainGardening I'm not sure I'd willingly eat a raw onion of any kind like an apple, though. They aren't that tasty.

[@pieterherfst5188]

Fun fact, a historian friend of mine is doing research into the Dutch East India Company (the VOC) and stumbled upon older research that shows the VOC Itself wasn't that profitable at all. It was however a great way to earn money for the shipwrights, ropers, foundries, and other shipbuilding companies, most of with were privately owned by shareholders of the company, who got merchants to invest money into buying and outfitting new expensive ships to sail halfway across the world for niche luxury products. In contrast, the much safer (and less prestigious) Baltic trade routes were far more lucrative as a business venture of their own. And it didn't aid in the colonization and subjugation of entire cultures, so that's nice

[@farewell5614]

I was so sure you guys already did this that I've recommended the Extra History Dutch Tulip Series" to multiple friends and relatives...

[@dreandro458]

i thought they allready did this too. wierd.

[@andrewlentner]

You might have confused it with their series on the South Sea Bubble

[@Carewolf]

Somebody else did a few months back. This is almost dejavu, but I can't remember who did the same series first. Perhaps Overly Sarcastic?

[@jespoketheepic]

You are probably thinking of History Scope.

[@farewell5614]

It's awesome how many really good "I think you're thinking of..."s there are for this! For anyone interested, I think it's the Adam ruins Everything one that I was thinking of but so many good ones!

[@tommagennis]

5:30 Can’t believe you missed the chance to say “I hate to burst your bubble.”

[@TheArchemman]

And here I thought NFTs are a new phenomenon. Thanks for the history lesson guys 🙂👍. I'm always excited to see what new stuff from history I'll learn.

[@BrentTJo]

Beanie babies in the 90's were crazy, people paying 100s sometimes even 1,000s of dollars for a little stuffed animal saying in 10 years they would retire off the profits from them. As soon as people had enough money to be stupid, stupid things started happening.

[@extrahistory]

Thanks for watching!

[@troyjardine5850]

7:54 well there are other "fields" that Holland is known for, often producing lots of "green", popular in the coffee shops

[@Tortferngatr]

Yeah, one of my thoughts was diabolic lettuce as well.

[@tsarbeaver2351]

Weeeeeeeeeeeeeeeeeeeeeeed

[@ocean6828]

This is awesome! When I saw that it was a series I was like “is there really that much to say about the tulip bubble?” And I am happy to be proved wrong

[@1984moment]

I saw an nft ad whilst watching this lmao

[@chedelirio6984]

I enthusiastically approve of all the perverse tweaking at "NFT"

[@zodayn4767]

I closed my eyes to imagine the Netherlands despite having lived there my whole life and being there at the very moment 😝

[@extrahistory]

LOL You had front row tickets in your imagination.

[@Voigt151]

@@extrahistory Meanwhile I, because of Aphantasia, simply saw nothing when trying to imgagine the Netherlands.

[@ThinksFarToMuch]

I love how you’ve drawn the connection between Tulipmania and NFTs!

[@malaysianasian471]

"Imagined what's Holland means to you, i'm beg you going to imagine windmills, wooden clogs, canals and fields of tulips" Indonesian who watch this: forced labor, occupation, Dutch brutality, war and battle of Surabaya

[@Cecilia-ky3uw]

As another Indonesian, the people my fellow countrymen keep bashing at at every opportunity, exxagerating the extent of their misdoings(in relative terms) and thelack of context being given, forced labour was something that happened throughout history, and one can easily simply interpret it as another tax, civilizations from ancient china and persia, the native americans(i mean from all the americas) and a lot more had it, occupation is a common thing throughout history, like the fact the nation conveniently forgets that Majapahit could as easily be interpreted as a story of Javanese domination rather than a united Nusantara before Indonesia, similarly forgetting the warfare it used to unify the archipelago, not to mention that Indonesia immediately commited imperialism right after independence under Soekarno, or Sukarno, for those you do not know, Confrontation or Konfrontasi, years worth of dictatorship, general Islamic domination of the minorities, tolerance of Acehnese human rights within the nation, Blasphemy laws, Imprisonment of a christian chinese governor based on blasphemy, which wasn't even true for that matter, watch the damned video of his speech, and many, many more.

[@TheBlueArcher]

This is great, I just explained to my parents that Tulip Mania was always referenced, but I never actually had a class or studied it, and would be interested in knowing the details, JUST as you said the story wasn't true. Can't wait for the other episodes =)

[@secularmonk5176]

"The story wasn't true" ... let's not get too carried away. I'm sure by the end of the series, it will remain a good example of a price bubble. While it might not take down economies, it CAN ruin individual lives, so being knowledgeable about the pitfalls of bubbles is valuable.

[@Wesyan1999]

Odd how the Netherlands had a lot going on in its first years: their war of independence, an invasion of northeastern Brazil and this (supposed) tulipmania all at once

[@5thMilitia]

That is just a few things of what happend. If you want to know something about that period I recommend you to watch Defragged History's series on the Dutch Independence War

[@DDWyss]

OMG, yes! It never would have occurred to me, but Dutch Tulips totally were the original NFTs.

[@jordandino417]

Non-Fungible Tulips 🌷;)

[@stevenn1940]

Each contract related to a specific tulip bulb, so... yeah, it really kind of was. Though, our NFTs are a lot less useful or legally enforcible

[@pedronunes3063]

They are Neat flowers TBH

[@joinmarch76]

I've admittedly heard of Tulip Mania, but didn't know how deep the proverbial rabbit hole went as far as the craze was concerned. I'm actually looking forward to seeing all of this one, because this is something straight outta what Duncan Fyfe made famous on Something True.

[@malikcagatay7923]

i was about to write how western diplomats absorved and introduced the tulips from ottoman empire,(turks themselves met the tulips at 10th century from persians, fun fact) but you mentioned it at the end and apperantly there will be more videos

[@Windona]

I was going to say, wouldn't someone realize that a tulip bulb didn't taste like an onion? They may be from the same family, but that doesn't mean it would taste exactly like an onion.

[@Yahriel]

Same guy who thought an entire onion would be a good breakfast item, though. An entire "onion" and a fish.

[@jackofalltrades6129]

@@Yahriel I mean, you cam cook the onion and herring together.

[@Dryghtendanitsu]

For years, YEARS, I've told people about the tulip bubble. No one believed me when I told them that a person once sold an entire farm estate with livestock and horses for a tulip bulb.

[@abcdef27669]

Do you think the Tulip Mania was bad for the Dutch? Wait until you hear about the year of 1672, literally called the Rampjaar ("Year of Disaster") by them...

[@masterimbecile]

Time to enjoy some Neat Financial Tales about some Nonsensical Floral Trades over some Nice Fresh Tea.

[@ArkadiBolschek]

aw yiss

[@thewrongguy1]

Been wanting this series for years. Can't wait for the rest.

[@HalfMoon95]

Yes! I have been waiting for this series since the South Sea Company! This is such an important and crucial piece of financial history that economists like myself love to discuss! So excited for the other episodes!

[@extrahistory]

We're pretty excited too!

[@dylanand75]

So we aren’t gonna be in for as much Nasty Financial Troubles as the stories say?

[@tardvandecluntproductions1278]

I'm really hoping people are spending what they can lose on NFT's

[@sarysa]

Shots fired with that video title, and I love it. Bubbles are the one constant of finance.

[@NotAnAlex_Guy]

The Dutch shall watch this series with great interest.

[@grimarchangel]

thought this would be a one off but a whole series from this is pretty interesting :D

[@moorwatch9654]

Top tip, if you want your Tulips to grow well season after season, plant them slightly deeper than suggested, around 8” down is good, I worked for someone who had Tulips he had planted 25+ years ago still going strong

[@appletree13]

I've always wondered what caused and happened in the Tulip Mania. Glad to know what happened! Could you guys to a series on the Risorgimento (Italian unification)? It would make sense, as you've already done Germany.

[@stevenn1940]

I always knew the foundational reason was that they were not native and had recently been imported. But beyond that, I don't know any more of the origin, and I'm pretty curious tbh

[@CliffCardi]

Or just a biography on Giuseppe Garibaldi. I’ve heard on historian call him “a character straight out of a romance novel”.

[@extrahistory]

We collect History Suggestions on our Patreon Page www.patreon.com/posts/64902176

[@journ9er]

Bring on all the NFT puns.

[@blackmoon9793]

Great topic for spring! The tulips are just starting to bloom here in Boston and they make everything just a little more lovely 🥰

[@kayeka4123]

I see the title, I expected a single short episode, and instead we're getting an entire series. I love it!

[@cedriccocoyer9574]

My trading journey was a matriculation of high and low literally just like the market. You up and you down. Now I'm constantly up

[@cedriccocoyer9574]

@Dorothy Ann young Yes, I think you know about her too

[@Marguerite_Johnson]

@Jo-Lind Eckstein Actually i trade cryptocurrency on a platform, with assistance from their top crypto experts. Mrs Lora is my professional assistant, I have been trading with her for 6 months now...I've really made a lot from her strategies in trading of cryptocurrencies

[@jozicazanic]

She has really made a good name for herself, please how can contact expert mrs Lora?

[@vivaamuraoecal5799]

@Patricia P Wilson I also needed her info too 1'11 write her thanks

[@blairclinebellsr7290]

I'm from Los Angeles. I and two other of my friends tried her immediately we testified her performing wonders

[@thomasjunker5415]

One of my favorite silly topics in history! This is going to be a great series

[@CartoonHistory]

I really need to read more about this period of Dutch history, so fascinating. Great video!

[@oopsy444]

I already know a bunch about this so im really excited to hear all of ec's additional info!

[@peytonreed937]

Anyone else remember when the title for the video was original an NFT reference?

[@SchwarzSSB]

The dude in the beginning: Man that onion sure tasted weird Him later: I ATE A FLOWER!?!?

[@erikjohnson9223]

At least it was a tulip, not a daffodil. He'd possibly be dead.

[@elenatroiae]

Flowers are tasty!!!!!

[@stevejakab274]

Some flowers are tasty. Some will kill you. Tulip bulbs will just make you sick.

[@jobo6338]

I am going to love this series. As this is not covered in basic Dutch history classes (the tulip craze is barely mentioned beyond having happened) while it is a significant part of our history.

[@Kyle-qd2sy]

I can’t believe this is the topic you’re covering today. I was explaining this very topic to someone yesterday! Hadn’t talked about this or thought about it in years😂

[@Axelgear2006]

I get that this is a short thing but framing the Dutch EIC's backing of the Amsterdam boom as "foreign trade" is glossing over the fact that it was very much some of the most intense colonialism perpetrated by Europe at that point; burning down whole islands to eradicate native populations of plants and people alike to secure violently-backed monopolies on the trade in certain spices. A lot gets made about the innovations in finance and prudent investment in the rise of the Dutch Golden Age but there's a lot of blood mixed in with the mortar, if you get my meaning.

[@ArkadiBolschek]

It was the beginnings of capitalism; what did you expect?

[@penname8441]

+

[@azjiel769]

@@ArkadiBolschek someone please give this man a medal for this comment

[@marcusfranconium3392]

You mean the ambon islands that had a trade deal , the VOC would buy all stock of what they produced for any price they wanted , as long they didnt traded with others. And when they did some double dealing got cought well. the VOC wasnt one to forgive breaches of contracts . or underhanded dealings . Decapitation of 10 english EIC workers. 9 japanene mercenarys and 1 portuguese that worked for the VOC . Dutch mentality a deal is a deal .an agreement is an agreement , break it and we will break you. And for the record no one cares . You see if you live in a continent and a country that has been at war for 80 years beeing persucted burned at the stake for believing something els . a 30 years war of religion in europe where soldiers where gambeling on what they would cut of or how to kill some one . . that killed 1/3 of its population. But if you want to go in that direction on how bad the VOC was , please tell the entire story and picture of that age, and how the VOC actualy operated as they had no intention of colonising the entire region as it was to costly so they set up trading post and forts . AS literaly no one fucking cares about those so called atrocities and other things that happend 400 years ago. But small little moralistic brains like your self have no clue on what and how time periods work .

[@culturainutil861]

Absolutely true, i hope they bring this up at least in passing

[@robertwalpole360]

*Kicks down the door* DID SOMEONE SAY "BUBBLE"?

[@mixinguncertainty]

It was Walpole

[@theoutlook55]

So impressive! You totally gaslight us for half the episode (😄🤷🏾‍♂️) to address the popular misconception about this historical event, and then give tidbits of what will be discussed in future episodes of this series. 👏🏿👍🏿 Very well done.

[@OopsFailedArt]

Sooooo excited for this series!!!!

[@PoggoMcDawggo]

The tulips in the thumbnail look like bacon strips. Mmmm bacon.

[@PakBallandSami]

A KZbinr named made a video about this exact topic well it was the history of nfts but still similar and it just so interesting to see that it was an evolution of a thing some French man did year ago

[@nickyoung9108]

I have been waiting for this series coverage for some time. Nice!

[@Optix149]

I've been making this comparison since NFTs first started. Feels good to be validated.

[@jimmyyu2184]

This is going to be great, I read "Tulipomania" by Mike Dash years ago, and it taught me about manic/meme(?) behaviours. I eagerly await future parts/episodes to this story.

[@jetjegoesdutch7933]

then you will love tulip gold and the golden tulip too.. Just finished reading them both as i did a video about tulips last week..

[@HikiOmo]

Mr jawsum was enough to get me interested in the video

[@scivolanto]

Man, what a teaser... I'm in love.

[@sebastiaanvandenberg3579]

7:36 home, and i’m so happy That you guys made a video of the Nederlands, dank u wel

[@Patrick-vq2he]

Thank you for the Neat Fantastic Tale

[@birb4121]

Well done video as allways

[@jimluebke3869]

"The Madness of Crowds" by Charles Murray is an excellent modern book as well.

[@DC-hy2rg]

The Fry cameo, the lovely art, the constant puns and jabs at the NFT trend...*chef's kiss

[@foam3132]

When you get just a fish: Not fod When you get an onion to go along side it: chef When you are captured by a mob: da fak When realise that you ate the bulb of the most expensive tulip in Europe: "HEY HEY HEY! THAT WAS NOT GOOD BUSINESS!!"

[@JorneDeSmedt]

Imagine being able to buy a house for the price of a tulip.

[@jaysier1233]

I like how the way you relate tulips to modern financial terms

[@arsenelupin123]

Really excited about this series!

[@mariustan9275]

Original title: Non-fungible-tulips

[@smalltime0]

The Ottomans went through tulip mania multiple times, not to the level of the dutch... but still.

[@akhlaqali1139]

The tulip was first popular among them ottomans which then spread throughout Europe

[@Moses_VII]

I think this may be my favourite series in Extra History

[@tns6862]

The more things change, the more things stay the same... Thanks for bring this up, a TIL for me

[@nosferatuoddz7974]

Nasty freaking things

[@cheesysealAnon]

Huh I guess if you think about it NFT weren't the first items with over inflated values.

[@stevejakab274]

Nor will they be the last, as long as people are willing to buy things for the sole purpose of reselling them to make a profit.

[@cheesysealAnon]

@@stevejakab274 But every time it happens the less time it takes for people to realize its a mistake.

[@storyspren]

I see it's finally Nice Flower Time

[@Rudolphius]

I am glad you are doing a series on this. As a Dutch history student I was always confused by foreign emphasis on the Tulip Mania, while it plays a much smaller role in the Dutch national historiography itself. Nevertheless it is a fascinating event that cemented the Tulip as a symbol of Dutch culture, both domestic and in foreign parts.

[@ScabiousGarde]

Wouldn't one say that housing is something that people actually want, but that hasn't stopped it's value from shooting up and plunging down based on people wanting to buy something now to sell it for more money later? Like tulips, they can serve as a status symbol, it's hard to argue that a house doesn't have more use value than a tulip, and yet it crashed the economy once and it's slowly strangling it now.

[@VillainousHanacha]

Yeah I was thinking the same. An investment being something you own only for its potential value is a bit of a narrow definition. Housing is something that is "traditionally" valuable (i.e it has an immediate use to you) but it has increasingly become a vehicle for developing wealth and something you keep for potential resale value, i.e. an investment. While one might say that there is a clear delineation between use and investment with those who own multiple properties and those who don't, even that's only half true. Sure for those that own many properties, there is a clear line between the primary residence (the "traditional" value) and the other properties (owned simply for R.O.I, rent and speculation). However the culture around home ownership has shifted, and even people who only own one property (their primary residence) now view that property as valuable both for its practical use and as a potential R.O.I. Besides, the ultra rich that own many properties often lead very transient lives that take them around the globe, so for them the line between and investment and a primary residence is "fungible" as it were. Just because something is "traditionally" valuable doesn't mean it can't also be an investment.

[@stevejakab274]

Correct. EC's idea that there's a difference between tulip speculation and NFT speculation because tulips actually exist is wrong.

[@subira8518]

Can we just discuss how there is always a NFT commercial on a video mocking NFT's?

[@ArkadiBolschek]

Adblocker is your friend, my dude.

[@stevejakab274]

And noscript.

[@tilmanruhnow9036]

U guys seem to love financial bubbles…and i too WANT MORE!

[@riverAmazonNZ]

it’s treating each unique tulip like a piece of jewelry or a gemstone, beautiful and valuable.

[@Syurtpiutha]

When I close my eyes I think less of the Netherlands then when I open them. I do live there after all. And I think more of terrible music and the fact that our poverty line means you're still among the wealthies 18.1% people on this planet.

[@3sgtecelica]

5:15 One thing to keep in mind, although all these things fueled a speculative bubble, the things themselves are still around. Once the Jpeg mania goes away, utility NFTs will start to shine and be a part of our future.

[@CactusJackIV]

Love the channel, keep up the amazing work!

[@Kunai1988]

It's kind of funny, after I explained my 80 years old father, who is pretty knowable in history, what nfts are, he directly related to the Netherlands tulip craze. It was baffling. We always make the same mistakes. It's amazing.

[@BlueRadium]

Tulip futures best futures. The idea of value being so malleable is endlessly interesting.

[@angelarch5352]

rofl Non Fungible Tulips!! Near Future Tulips!! This is such a neat fun tale :D

[@aogasd]

The upside of Google stalking our browsing history is getting a related extra credits video recommended like 2 hrs after I searched this on Wikipedia

[@Magali_theRecordKeeper]

What an interesting comparison to make. Love it!