
The Can’t-Lose Way for Your Business to Pop: Add Bitcoin to Its Name - axg
https://www.nytimes.com/2017/12/21/technology/bitcoin-blockchain-stock-market.html
======
ineedasername
It feels like the heady days of 1999, where anyone that could was "pivoting"
to the web at ridiculous speed and IPO valuation. This isn't a dig on crypto
itself though-- after the '00 bubble, it's not like the internet went away. I
do wonder what crypto 2.0 will look like, a few years on from its bubble.
Here's to hoping the pop comes early and quick, and the real progress can
begin in earnest.

~~~
canoebuilder
However, in '99/'00, even in '94-'96 there were many sorts of things one could
say to a friend, "Hey look at this cool thing you can do on the web!" and your
friend would say "Wow! Yeah that is cool!"

What are the equivalents with cryptocurrencies/blockchains? I ask this all the
time, no one seems to have an answer.

The extent of the discussion around cryptocurrencies seems to be rambling on
about things that either, no one understands, few people care about, or as a
solution to a "problem" that few people if any, actually have. But people are
"really excited" about these obscure curiosities, because if they can get
other people about excited too they can sell their holdings for more than they
paid for them.

The comparison between the web and cryptocoins seems really strained because
not only can you not show the average Joe anything that would really impress
him done with a cryptocurrency, beyond an irrational exuberance, but also
because the two are so vastly different in scope.

The impetus of bitcoin was about an experiment of enacting a certain type of
monetary system related to a certain political philosophy. In comparison the
web is basically infinite. You can read about, write about, or discuss that
political philosophy, or any of a hundred others, or you can do any of
millions of other things having nothing to do with a political philosophy.

One of the great legacies of the web is the dematerialization and
demonetization it wrought due to zeroing out reproduction and distribution
costs.

Now we have people pretending that code that can be literally copy and pasted
to start a new network of ____coin is somehow super wow! valuable!

~~~
nerdponx
_What are the equivalents with cryptocurrencies /blockchains?_

They aren't nearly as tangible. The big innovation here is the blockchain tech
itself -- a distributed, immutable, public ledger. It's a very specific
innovation, and it mostly benefits big businesses, but it's an innovation
nonetheless.

~~~
eru
Git (and similar) had that for ages. The technical innovation is in particular
combination of proof-of-work with the hash chain.

But of course the social innovation might have been to make that long
established technology cool and popular.

------
justboxing
Its not 'Bitcoin', its 'BlockChain'.

Acquire a mining company on the down low, and add 'BlockChain' to your Company
name and announce it. That's all you gotta do.

Exhibit 1: Longfin. Shot up 2000% after an obsure FinTech company that IPO-ed
at $5-ish shot up to over $126 after announcing 2 days after the IPO that it
acquired a (shady) blockchain mining company.

Watch the CNBC reporter RIP the CEO apart here. They were selling their
'Ziddu' currency over HTTP.. (no SSL) =>
[https://www.cnbc.com/video/2017/12/18/small-cap-longfin-
soar...](https://www.cnbc.com/video/2017/12/18/small-cap-longfin-
soars-2000-percent-after-acquiring-blockchain-company.html?play=1)

Exhibit 2: RIOT "Blockchain". a weak pharma company with a sketchy past,
acquires a blockchain mining company and add "BlockChain" to it's name.
Overnight, stock shoots up from $5 to $45 = 900% increase. See
[https://seekingalpha.com/article/4133208-kind-company-
riot-b...](https://seekingalpha.com/article/4133208-kind-company-riot-
blockchain)

~~~
rocking_duck
Not to forget FTFT, "Future FinTech Group Inc", that despite the fancy name is
a tiny fruit juice company. 'pivoted' to blockchain, stock shot up more than
200%. What a time to be alive!

------
thisisit
Is it bitcoin or blockchain to its name? One of the pervasive mistakes which
keeps happening is equivocating bitcoin and blockchain. If a publication like
NY Times can't differentiate, one can only think of average Joe.

------
prh8
Nice list of companies to consider shorting.

~~~
jamestimmins
"The market can remain irrational longer than you can remain solvent."

~~~
vinceguidry
In other words, short sells are tools to use against failing companies, not
against markets you think can't deliver real value. Markets are much bigger
than companies and can make short work of your maintenance margin even if
they're going to crash in the end.

If you want to make a long term bet against a market, the best idea is to
figure out who benefits when that market crashes and go long on them.

~~~
eru
Shorts are also useful when you have private information the market doesn't
have, yet. (As opposed to bad news the market already knows but chooses to
ignore.)

Ie: dig up dirt on a company, short their stock, publish bad news, close out
your short position.

Who wants to go long a company (ie invest in equity), should welcome the
ability of others to short: it ensures you can buy for a fair price and that
there's a smaller likelihood of skeletons hidden in their basement.

------
ringaroundthetx
Time it for right around your share lockup expires $^D

learn2finance, its the best MMORPG there is

