
Blockchain’s Hype Is Dying According to Corporate America’s Earnings Calls - MichaelKSpencer
https://medium.com/utopiapress/blockchains-hype-is-dying-according-to-corporate-america-s-s-p-500-earnings-calls-citations-56b97771ce58
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option_greek
If we can count on one thing that never dies, it is companies like IBM
embracing buzzwords like AI and Blockchain and leeching millions from brain
dead Non-IT companies that drink their consultancy koolaid.

It's kind of predictable to hear a Buzzword and add five years to the time it
became a buzzword and you can search IBM + buzzword to see that they are the
top results.

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rajacombinator
Is there anything that can be done to combat this phenomenon? (I doubt it, but
hoping ...) It seems enormously destructive and wasteful for society...

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option_greek
Sadly no. But luckily its self correcting. While traditional companies drink
koolaid and aim for short term share price bumps, tech behemoths continue to
eat their lunch. In a few decades (4-5), there might not be any traditional
companies left to drink the koolaid.

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radicaldreamer
Well, it’s the tech behemoths who become the IBMs on that time scale...

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yitosda
If The IBMs have no one left to scam, they are no longer IBMs.

They'll settle for some other kind of awful, I'm sure.

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beginningguava
I compare the 2017 crypto hype to the dot com bubble, people finally realized
the potential but the real life value isn't there yet, lot's of scam ICOs just
like all the companies that raised money during the tech bubble. Just like the
dotcom bubble people said internet/tech was dead, there are people saying
blockchain is dead. I think that out of this batch there will be the Google's,
Amazon's, etc that emerge and actually deliver real world value as opposed to
just hype

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rajacombinator
No evidence of any useful non-Bitcoin blockchain applications so far, so no
reason to expect any Amazon/google type successes. If someone figures out
something useful to do with “blockchain” it will probably blow up quickly.

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gibsons77
TIL that MakerDAO, DAI, Digix, dydx, dharma protocol, 0x, derivatives tokens,
Augur, and Aragon aren't useful.

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recursive
I've never heard of any of those, so I looked up the first one, MakerDAO. I'm
pretty sure that's a "crypto asset".

"Dai is an asset-backed, hard currency for the 21st century."

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gibsons77
Yeah, but it's a stablecoin pegged to the USD. This allows other projects,
like dydx to create derivatives products based on this peg. You have other
protocols that use the DAI peg to create stock market derivatives. Today, I
can trade ETH for a token pegged to AAPL's stock on the blockchain.

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brokensegue
I can do that for free on Robin Hood with dollars that I already have. Explain
why I should care.

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gibsons77
I remember showing a friend this really crappy online video stream in the late
90s, and I think he said something like "How can this ever be useful? I can
rent a DVD and watch high quality video without any interruptions." He wasn't
wrong.

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heavenlyblue
So it is a coin that is backed by the law system of the country you may not be
residing in?

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rhlsthrm
Yes, but right now it's much more stable to be holding that than one of the
pure crypto assets. Anyone can make a stablecoin backed by another country's
currency.

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serg_chernata
"Blockchain is Dying"

Someone may eventually be right, but the number of times these words have been
uttered is astounding.

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tluyben2
It is a little more nuanced; the hype is dying (or so the writer believes).

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serg_chernata
I understand and agree. It's just a "water is wet" article.

There's no profit in current bear market = there's no hype.

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bitxbitxbitcoin
The benefit that the technology brings, sans speculation, should be the same
regardless of whether it's a bear or bull market though. What about blockchain
technology development that isn't tied to a tradable token?

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gibsons77
There is an EIP 1337 "Subscription Services on the Blockchain" that I think
will supplement/replace tokenomics. It's what it sounds like, a decentrilized
subscription protocol that allows builders to monetize their d-apps with ETH
based on recurring payments to access the services.

This is essentially the first step to web 3.0 and a universal login.

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Kinnard
Best time to Buidl.

~~~
elite_trader
the number of people who got lucky on bitcoin and now feel like they are
validated enough to try and give any level of financial advice is super funny

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gibsons77
Building d-apps is now financial advice?

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propter_hoc
Original article (with more data than this comment piece):
[https://www.axios.com/corporate-america-blockchain-
bitcoin-f...](https://www.axios.com/corporate-america-blockchain-bitcoin-
fervor-over-fb13bc5c-81fd-4c12-8a7b-07ad107817ca.html)

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adamnemecek
Crypto is going to come back with vengeance.

