Is the Crypto Industry Failing?





Self-sovereignty, disintermediation, privacy, access. Those are all values the Bitcoin & cryptocurrency was initially founded on, but are we failing to live up to that ethos now? Let’s talk about the trough of disillusionment, the use case of speculation and more in today’s episode. 

Looking for a career in the blockchain and cryptocurrency industry? Check out my company, Proof of Talent: 
https://proofoftalent.co/careers/

Meltem Demirors tweetstorm that inspired this podcast: 
https://twitter.com/Melt_Dem/status/1177624330278199297?s=20

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27 replies
  1. TheRealSHA256
    TheRealSHA256 says:

    It was extremely difficult to see where the industry realistically stood, with and after the ICO craze, thousands of "projects" popping up everywhere, creating hype and overrated excitement. now that the dust is settling we start to see this industry for what it really is, no hype, no unfounded optimism, just reality. it was easy to get overly excited with over 100 ICO's popping up per month back in 2017. one SEC letter of recommendation later, and the ICO industry has turned in to a ghost town. but this is helpful to the industry, this is a healthy step forward. so coming down from all of that cloud 9 sentiment, can definitely feel like a huge disappointment and like the industry may be in jeopardy. i think now that all the hype and haze has cleared, we can now have a more accurate read on where we are, which is still very early on, and what the industry needs to work on. we now have more experience and better perspective and that is something the industry can definitely build on. we now know what scams look like, what overrated projects look like (TRX), and the industry as a whole can step forward and away from all of this none sense with a clearer road forward.

    Reply
  2. Hank Miller
    Hank Miller says:

    Crypto is just getting warmed up. There's gonna be many twists and turns.
    2017 was a year long lottery party for many.
    The 2018 hangover wasn't pretty.
    Apr 2019, energy and confidence started to come back, then BTC dumped. Now it's fear stepping in to say hello.

    Reply
  3. Robin Norton
    Robin Norton says:

    You don’t need profit to pay your employees – you need revenue. R&D is an expense, so if you balance revenue with expenses like salary and R&D, you don’t really need to profit. That is necessary to pay non-productive stakeholders.

    Reply
  4. Neil Gigandet
    Neil Gigandet says:

    I don't believe 90% of the people in crypto are truthfully just speculating. People hold coins because they believe their value is greater then what they can currently use them for. Why the f__k would we buy a pizza with bitcoin when part of the reason we own it is because we think it is undervalued. Here is the difference though between us and true speculators. Most are willing to use bitcoin to buy things if we no longer believe it will jump 10% tomorrow. What this means is I believe in it as money, but the speculation side of me wins out. If I was only a speculator speculating on stocks, number one, I would not have money or future money. SO, speculation is all there is. There is no longer term possibility. The ever-persistent upside of bitcoin as money pervades and overtakes my desire to spend it as such. The problem is that bitcoin is a bi-fold asset it is stock-like and money-like.

    Reply
  5. Solutions Exist
    Solutions Exist says:

    Quantum Computers will Terminate all crypto currency and allow governments, black ops programs, and corporate thieves to take your encrypted coins at will. Computers later this year will be able to perform a thousand Trillion calculations per second. All keys will be decrypted. In seconds. That’s not going to be the biggest problem however. Military decision-makers better go old school quickly or that Nuclear missile might just launch or blowup in its silo. Nuclear subs will be wide open if other non-electronic methods are not implemented. Nuclear Codes will be infant’s play for a Quantum Computer. Think about the first Country to bring a Quantum Computer online and target not only these vulnerabilities but a power grid or those damn obsolete ticking time bomb Nuclear Power Plants that have exceeded their planned operational life spans decades ago. The power of Quantum Computers will be a game changer for Humanity. Do you really thing our stupid elected leaders in Washington DC have considered the impending destruction coming to a block near you? No – they are too busy stealing us blind or cashing those lobbying interest checks.

    Reply
  6. Pidols
    Pidols says:

    90 percent is conservative, I am afraid. Thanks for the honesty, Bobby. IMO, those with the capital need to propel the industry forward, instead of lazy rent-seeking

    Reply

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