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(Venture Beat)   Tomorrow's news: Blockchain game company Limit Break files for bankruptcy after receiving $200M in funding   (venturebeat.com) divider line
    More: Stupid, Mobile game, Gabe Leydon, mobile games, Video game industry, Mobile software, Video game, Free-to-play, blockchain game company  
•       •       •

608 clicks; posted to Business » on 29 Aug 2022 at 5:35 PM (22 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



43 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-08-29 5:45:14 PM  
And, let me guess. The founders are the original creditors...
 
2022-08-29 5:48:01 PM  
The tl;dr, if I understood correctly : the company will give free NFTs representing assets to early adopters, keeping a few for themselves.

Once those adopters have started reselling their NFTs and created a market for it, the company will start selling their own NFTs, and that's how they will make their money.

Am I the only one taking crazy pills here, or does anybody else think that insane ?
 
2022-08-29 5:51:00 PM  
There nothing blockchain can't do. Soon, your car will be powered by an NFT engine, rolling on crypto wheels.
 
2022-08-29 5:54:54 PM  
That sounds like they've spent 99% of their time thinking about the NFTs, how to market them, distribute them, etc. I'm guessing at some point someone eventually bothered to ask, "Hey what about the game part of this? What's the actual game you play with the NFTs?"

"I dunno, I guess they fight or some shiat. Like each turn you generate a random number and if it's less than the number on your card you lose. That's a game, right? Anyway, back to the plan for minting these NFTs..."
 
2022-08-29 6:02:21 PM  

Phil McKraken: There nothing blockchain can't do. Soon, your car will be powered by an NFT engine, rolling on crypto wheels.


Blockchain? Blockchain. BLOCKCHAIN!!
 
2022-08-29 6:02:40 PM  

padraig: The tl;dr, if I understood correctly : the company will give free NFTs representing assets to early adopters, keeping a few for themselves.

Once those adopters have started reselling their NFTs and created a market for it, the company will start selling their own NFTs, and that's how they will make their money.

Am I the only one taking crazy pills here, or does anybody else think that insane ?


When they say they will keep a few for themselves, I think you should consider what exactly they mean "by a few".

And given they're the company that made the game, they can just make more.
 
2022-08-29 6:04:19 PM  

Prank Call of Cthulhu: That sounds like they've spent 99% of their time thinking about the NFTs, how to market them, distribute them, etc. I'm guessing at some point someone eventually bothered to ask, "Hey what about the game part of this? What's the actual game you play with the NFTs?"

"I dunno, I guess they fight or some shiat. Like each turn you generate a random number and if it's less than the number on your card you lose. That's a game, right? Anyway, back to the plan for minting these NFTs..."


He kinda adressed this in TFA, by saying that they've made games before, and are obviously good at it.
 
2022-08-29 6:10:50 PM  
A lotta yall still dont get it. Ape holders can use multiple slurp juices on a single ape. So if you have 1 astro ape and 3 slurp juices you can create 3 new apes.
 
2022-08-29 6:26:46 PM  

Rapmaster2000: A lotta yall still dont get it. Ape holders can use multiple slurp juices on a single ape. So if you have 1 astro ape and 3 slurp juices you can create 3 new apes.


You forgot to also mention, tonight's slurp juice mint event is essentially a minting event for both Lab Monkes and Special Forces.
 
2022-08-29 6:28:38 PM  

Rage Against the Thorazine: Phil McKraken: There nothing blockchain can't do. Soon, your car will be powered by an NFT engine, rolling on crypto wheels.

Blockchain? Blockchain. BLOCKCHAIN!!


Three times? You know you just summoned Blockchain Beetlejuice, right?
 
2022-08-29 6:31:00 PM  

ChibiDebuHage: Rapmaster2000: A lotta yall still dont get it. Ape holders can use multiple slurp juices on a single ape. So if you have 1 astro ape and 3 slurp juices you can create 3 new apes.

You forgot to also mention, tonight's slurp juice mint event is essentially a minting event for both Lab Monkes and Special Forces.


Whatever. The point is that I'm going to get rich without having to work.

HFSP, bro.
 
2022-08-29 6:47:09 PM  

padraig: The tl;dr, if I understood correctly : the company will give free NFTs representing assets to early adopters, keeping a few for themselves.

Once those adopters have started reselling their NFTs and created a market for it, the company will start selling their own NFTs, and that's how they will make their money.

Am I the only one taking crazy pills here, or does anybody else think that insane ?


I guess that it lets them off-load the bookkeeping and selling of the digital items NFTs off of their servers and onto the systems built by the crypto folks. Also, because the ledger is public, theoretically some other company could also use your ownership of those NFTs to grant digital items in their game.
 
2022-08-29 6:55:19 PM  
Fark user imageView Full Size
 
2022-08-29 7:10:55 PM  
The $200 million was promptly invested in an account promising 10% returns daily.
 
2022-08-29 7:26:04 PM  

Olympic Trolling Judge: The $200 million was promptly invested in an account promising 10% returns daily.


Some of it was probably use to buy back (or pay people to buy) some of those free NFTs to artificially increase their values. A widespread practice in the crypto/nft space that I learned yesterday is called a "wash" or something like that.
 
2022-08-29 7:53:47 PM  

padraig: The tl;dr, if I understood correctly : the company will give free NFTs representing assets to early adopters, keeping a few for themselves.

Once those adopters have started reselling their NFTs and created a market for it, the company will start selling their own NFTs, and that's how they will make their money.

Am I the only one taking crazy pills here, or does anybody else think that insane ?


This quote is relevant : 'That's a big statement, as free-to-play has become the dominant business model in games, generating $120 billion in annual revenues, or more than half of all game revenues.'

If it's free to play, where is that money coming from? In-game purchases to the tune of Billions. I suspect he is going to try the same strategy again but, since customers can resell on Opensea, they would get 10% (or whatever) on every single resale too - so instead of just the single sale, they get a slice of the secondary market too.
 
2022-08-29 8:14:18 PM  
Back when I was a kid, if a person or company wanted to make money by selling a video game they would develop the game and sell it to me. I'd pay money for it, take it home, and it would be mine to play and enjoy.

Those were the days.

No micropayments. No subscriptions. No loot boxes. No "upgrades". No upfront investment on something that may or may not suck  Just buy a game & play it. These schemes pretty well ruined gaming for me long ago.
 
2022-08-29 8:20:07 PM  

GregInIndy: Back when I was a kid, if a person or company wanted to make money by selling a video game they would develop the game and sell it to me. I'd pay money for it, take it home, and it would be mine to play and enjoy.

Those were the days.

No micropayments. No subscriptions. No loot boxes. No "upgrades". No upfront investment on something that may or may not suck  Just buy a game & play it. These schemes pretty well ruined gaming for me long ago.


There are games like that around today. Loads of them. Indie games, generally. Those are the ones that get my money.
 
2022-08-29 8:22:07 PM  
So Leydon's claim is a big one, and it starts with non-fungible tokens (NFTs) on the Ethereum blockchain

Fark user imageView Full Size
 
2022-08-29 8:23:49 PM  

GregInIndy: Back when I was a kid, if a person or company wanted to make money by selling a video game they would develop the game and sell it to me. I'd pay money for it, take it home, and it would be mine to play and enjoy.

Those were the days.

No micropayments. No subscriptions. No loot boxes. No "upgrades". No upfront investment on something that may or may not suck  Just buy a game & play it. These schemes pretty well ruined gaming for me long ago.


Another thing is that the game is now an afterthought instead of at the center of thing.
 
2022-08-29 8:37:24 PM  

GregInIndy: Back when I was a kid, if a person or company wanted to make money by selling a video game they would develop the game and sell it to me. I'd pay money for it, take it home, and it would be mine to play and enjoy.

Those were the days.

No micropayments. No subscriptions. No loot boxes. No "upgrades". No upfront investment on something that may or may not suck  Just buy a game & play it. These schemes pretty well ruined gaming for me long ago.



Yep. I more or less stopped playing as they moved away from selling games. They don't miss me, of course; fleecing one whale is probably more profitable than selling a fully-functional game to a thousand people.

/to be fair, I'd have to admit that fleecing whales is an impressive feat, biologically
 
2022-08-29 8:49:37 PM  

Rage Against the Thorazine: Phil McKraken: There nothing blockchain can't do. Soon, your car will be powered by an NFT engine, rolling on crypto wheels.

Blockchain? Blockchain. BLOCKCHAIN!!


bLoCkChAiN!
 
2022-08-29 8:53:22 PM  

Gordon Bennett: So Leydon's claim is a big one, and it starts with non-fungible tokens (NFTs) on the Ethereum blockchain

[Fark user image 850x637]


Another T2 post?  I might have to acquire it and watch it tonight...
 
2022-08-29 9:09:55 PM  
"Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.
 
2022-08-29 9:21:04 PM  

talkertopc: GregInIndy: Back when I was a kid, if a person or company wanted to make money by selling a video game they would develop the game and sell it to me. I'd pay money for it, take it home, and it would be mine to play and enjoy.

Those were the days.

No micropayments. No subscriptions. No loot boxes. No "upgrades". No upfront investment on something that may or may not suck  Just buy a game & play it. These schemes pretty well ruined gaming for me long ago.

Another thing is that the game is now an afterthought instead of at the center of thing.


That seems to have been the case with free to play/pay to win games, and they've been wildly successful. I don't get it, neither do many other posters here. But there was never a ton of money in gamers like us.

Tracking uniquely identified in-game items that are traded privately is one of the better functional fits for a blockchain, so this scheme is not especially far-fetched to me. I know the "game" will have no appeal to me - but like I said: pay-to-win doesn't miss me. Or for that matter, neither do lotteries and slot machines. All objectively terrible as games, but extremely successful financially.
 
2022-08-29 10:41:32 PM  

FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.


This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.
 
2022-08-29 11:09:59 PM  

GriffXX: There's actually some kinda neat business ideas out there


feel free to share them here. I am curious to see how this tech can solve some problems we have today.
 
2022-08-29 11:33:18 PM  

Rage Against the Thorazine: Phil McKraken: There nothing blockchain can't do. Soon, your car will be powered by an NFT engine, rolling on crypto wheels.

Blockchain? Blockchain. BLOCKCHAIN!!


You can do anything at Blockchain.com.
 
2022-08-29 11:34:13 PM  

Hyjamon: GriffXX: There's actually some kinda neat business ideas out there

feel free to share them here. I am curious to see how this tech can solve some problems we have today.


Beat me to it. Blockchain is a solution looking for a problem. Even the pie-in-the-sky folks espousing blockchain for convergence, trust, or decentralization continue to speak in abstracts and suggestions.
 
2022-08-29 11:34:54 PM  

Hyjamon: GriffXX: There's actually some kinda neat business ideas out there

feel free to share them here. I am curious to see how this tech can solve some problems we have today.


Well, no one mainstream is talking about them. because they're from Canada, and you wouldn't know them.
 
2022-08-30 1:39:40 AM  

Hyjamon: GriffXX: There's actually some kinda neat business ideas out there

feel free to share them here. I am curious to see how this tech can solve some problems we have today.


Rather than type out all the examples - wanna pick one? Off the top of my head I have : cloud storage, online advertising, and event venue ticketing. There's a few streaming music projects out there but I don't think they're mature enough to defend against criticism and well ... this isn't exactly the friendliest platform to talk about web3/blockchain/crypto.
 
2022-08-30 4:54:01 AM  
Why do all the playable crypto-blockchain games look like Unity assets flip shovelware? and very few of them reach the 'existing game' stage, some of the scams conclude before a game exists.
The most successful one is probably Axie Infinity, an obvious Ponzi scheme, currently imploding due to lack of new players bringing in more money.
 
2022-08-30 9:38:52 AM  

GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.


The difference is that with web 1.0, the underlying technology genuinely was revolutionary and people just weren't ready for it (literally erect ready for it, most homes didn't have a reliable internet connection and a lot of homes didn't even have computers.)

Web3, on the other hand, is an evolutionary step back to a technology pathway that was already explored twenty years ago and discarded because it was a bad way to do things. It does the same things as the centralized and cloud platforms that have matured over the last two decades, but does it worse without offering any actual benefits.
 
2022-08-30 10:27:40 AM  

GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.


Not really. The dot com crash was created by companies that had products but no way to make money from them. They were wildly popular for what they did, but they lost money on every sale.

The modern analogy is companies like Uber.

***

Blockchain is all about making money with no products. Virtually no one wants what they claim to offer, they just think it will make them rich.
 
2022-08-30 11:31:21 AM  

Lusiphur: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.

The difference is that with web 1.0, the underlying technology genuinely was revolutionary and people just weren't ready for it (literally erect ready for it, most homes didn't have a reliable internet connection and a lot of homes didn't even have computers.)

Web3, on the other hand, is an evolutionary step back to a technology pathway that was already explored twenty years ago and discarded because it was a bad way to do things. It does the same things as the centralized and cloud platforms that have matured over the last two decades, but does it worse without offering any actual benefits.


All I am saying is the past two years has had that shakeout like the dot-com bust. About 80% of the products (depending on how you define it) were De-Fi related because, yes, all they wanted to do is make money as fast as possible - and you can see why. People were making BILLIONS.

Now projects are popping up that have an actual product/service that has the potential to be useful. From an adoption standpoint, I'd say that the lack of people having a web3 wallet to even connect to a website is very similar.

Essentially what people are saying is that, in a Trillion dollar industry with thousands of projects - there are ZERO that have any benefit. All I am saying is there are several that have potential and that number is growing. There are definitely some upsides to using a blockchain instead of 'traditional' tech like cloud.
 
2022-08-30 11:35:52 AM  

Grauenwolf: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.

Not really. The dot com crash was created by companies that had products but no way to make money from them. They were wildly popular for what they did, but they lost money on every sale.

The modern analogy is companies like Uber.

***

Blockchain is all about making money with no products. Virtually no one wants what they claim to offer, they just think it will make them rich.


This is what I am saying - there is starting to be a rise of tokens that have a product/service that drives value besides 'buy a pizza or sell it to the next schmuck.' Crypto-heads aren't interested because they aren't promising 1000x and call them 'boomer-coins'. Traditional people see the word crypto/blockchain/web3 and say 'tulips' 'ponzi' and start high-fiving without looking at it.

But yes, the past several years both the currency and 'smart contract' project were aimed to try and get people rich quick rather than build a useful solid business model.
 
2022-08-30 4:55:18 PM  

GriffXX: Lusiphur: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.

The difference is that with web 1.0, the underlying technology genuinely was revolutionary and people just weren't ready for it (literally erect ready for it, most homes didn't have a reliable internet connection and a lot of homes didn't even have computers.)

Web3, on the other hand, is an evolutionary step back to a technology pathway that was already explored twenty years ago and discarded because it was a bad way to do things. It does the same things as the centralized and cloud platforms that have matured over the last two decades, but does it worse without offering any actual benefits.

All I am saying is the past two years has had that shakeout like the dot-com bust. About 80% of the products (depending on how you define it) were De-Fi related because, yes, all they wanted to do is make money as fast as possible - and you can see why. People were making BILLIONS.

Now projects are popping up that have an actual product/service that has the potential to be useful. From an adoption standpoint, I'd say that the lack of people having a web3 wallet to even connect to a website is very similar.

Essentially what people are saying is that, in a Trillion dollar industry with thousands of projects - there are ZERO that have any benefit. All I am saying is there are several that have potential and that number is growing. There are definitely some upsides to using a blockchain instead of 'traditional' tech like cloud.


Right, but this is a case where "the people" are actually correct, because on a very basic, very fundamental level, the blockchain doesn't offer any benefits that traditional ledgers and databases didn't already have. There is absolutely nothing, from a pure technology standpoint, that isn't already available better, cheaper, faster, more secure, and more reliably, and often all four. It's a solution desperately searching for a problem that isn't solved better elsewhere, and frankly I can't think of a single place that kind of problem exists.

But, if you have special insight, I would love to hear it.
 
2022-08-30 5:48:28 PM  

Lusiphur: GriffXX: Lusiphur: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

snip


There are a bunch of examples but from a pure technology standpoint - Let's look at Filecoin. The KEY thing to note is that they funded, launched and will have ongoing growth while avoiding the whole traditional IPO process.

To start a cloud storage provider you would need : loads of data center space with its power and cooling costs, loads of storage and compute, staff to deploy and maintain it, ongoing costs to upgrade gear as computer and storage gets faster and larger  - we're talking many MANY Millions of dollars to just get off the ground and who knows how long to turn a profit.

With Filecoin (website is filecoin.io), the resources are all securely remotely donated by the users for a slice of the profit. No data center, upgrade or maintenance costs and WAY less staffing costs. It's all baked in and can get to profitable WAY quicker. Blockchain is enabling tech like this to be launched globally without the massive funding needed in the past. Its offering is a fraction of the cost of the traditional Big Tech cloud providers. It's grown to a $1.5 Billion market cap in five years.

So - one of the key things it does is incentivize globally users to donate their storage without being tied to a specific country's fiat currency. It does this without collecting PII on any of the users. Its margins can actually compete at a pricing level if they can make the usability/adoption easier. As technology evolves, since all it cares about is the storage and not the O/S, Network, Firewalls, Etc - the whole evolution is practically on auto-pilot.

Will it GROW to compete with traditional cloud storage? Who knows. All I am saying is that, just like the dot-com 'build in the garage'  days, you have these ideas that are coming out with Billion dollar growth that's not just the 'ponzi' crypto is known for. There's a bunch of these happening.
 
2022-08-30 9:14:13 PM  

Rage Against the Thorazine: Phil McKraken: There nothing blockchain can't do. Soon, your car will be powered by an NFT engine, rolling on crypto wheels.

Blockchain? Blockchain. BLOCKCHAIN!!



Farker's sure have this anal fixation on Blockchain.  which makes me think there is something to this new tech.......

First they ignore you
then they laugh at you
then they attack you
then you win.
 
2022-08-30 9:15:13 PM  

GriffXX: Lusiphur: GriffXX: Lusiphur: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

snip

There are a bunch of examples but from a pure technology standpoint - Let's look at Filecoin. The KEY thing to note is that they funded, launched and will have ongoing growth while avoiding the whole traditional IPO process.

To start a cloud storage provider you would need : loads of data center space with its power and cooling costs, loads of storage and compute, staff to deploy and maintain it, ongoing costs to upgrade gear as computer and storage gets faster and larger  - we're talking many MANY Millions of dollars to just get off the ground and who knows how long to turn a profit.

With Filecoin (website is filecoin.io), the resources are all securely remotely donated by the users for a slice of the profit. No data center, upgrade or maintenance costs and WAY less staffing costs. It's all baked in and can get to profitable WAY quicker. Blockchain is enabling tech like this to be launched globally without the massive funding needed in the past. Its offering is a fraction of the cost of the traditional Big Tech cloud providers. It's grown to a $1.5 Billion market cap in five years.

So - one of the key things it does is incentivize globally users to donate their storage without being tied to a specific country's fiat currency. It does this without collecting PII on any of the users. Its margins can actually compete at a pricing level if they can make the usability/adoption easier. As technology evolves, since all it cares about is the storage and not the O/S, Network, Firewalls, Etc - the whole evolution is practically on auto-pilot.

Will it GROW to compete with traditional cloud storage? Who knows. All I am saying is that, just like the dot-com 'build in the garage'  days, you have these ideas that are coming out with Billion dollar growth that's not just the 'ponzi' crypto is known for. There's a bunch o ...


https://www.techrepublic.com/article/web-blockchain-technology-market/
 
2022-08-30 9:15:42 PM  

Lusiphur: GriffXX: Lusiphur: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.

The difference is that with web 1.0, the underlying technology genuinely was revolutionary and people just weren't ready for it (literally erect ready for it, most homes didn't have a reliable internet connection and a lot of homes didn't even have computers.)

Web3, on the other hand, is an evolutionary step back to a technology pathway that was already explored twenty years ago and discarded because it was a bad way to do things. It does the same things as the centralized and cloud platforms that have matured over the last two decades, but does it worse without offering any actual benefits.

All I am saying is the past two years has had that shakeout like the dot-com bust. About 80% of the products (depending on how you define it) were De-Fi related because, yes, all they wanted to do is make money as fast as possible - and you can see why. People were making BILLIONS.

Now projects are popping up that have an actual product/service that has the potential to be useful. From an adoption standpoint, I'd say that the lack of people having a web3 wallet to even connect to a website is very similar.

Essentially what people are saying is that, in a Trillion dollar industry with thousands of projects - there are ZERO that have any benefit. All I am saying is there are several that have potential and that number is growing. There are definitely some upsides to using a blockchain inst ...


https://www.techrepublic.com/article/web-blockchain-technology-market/
 
2022-08-30 9:17:45 PM  

Grauenwolf: GriffXX: FormlessOne: "Mobile game has-been rugpulls for $200M" is going to be the next entry on web3 is going just great.

This is like the dot-com crash all over again. Billions of dollars of fluff, everyone pointing and laughing - but the underlying tech could be useful and projects start to rise out of the ashes. Web3 is actually fascinating from a business bootstrapping perspective.

There's actually some kinda neat business ideas out there but no-one mainstream is talking about them because it's the multi-million dollar investments/spikes/crashes that make the news.

Not really. The dot com crash was created by companies that had products but no way to make money from them. They were wildly popular for what they did, but they lost money on every sale.

The modern analogy is companies like Uber.

***

Blockchain is all about making money with no products. Virtually no one wants what they claim to offer, they just think it will make them rich.



bend over, big boy......Reality has a Hard On.

https://www.techrepublic.com/article/web-blockchain-technology-market/
 
2022-08-31 5:51:35 AM  

Linux_Yes: bend over, big boy......Reality has a Hard On.

https://www.techrepublic.com/article/web-blockchain-technology-market/


That article is a great example of how to type a lot of words and say nothing and make predictions based on wild guesses. Also someone who is just glossing over the article won't notice how they are quoting a consulting company literally called "Market Research Future" and not actually discussing evidence-based future market research. Not sure if it's purposefully misleading or just "clever" marketing. Could be both.
When an article has a sentence like "Blockchain has been a proven technology that ensured the security of the crypto and NFTs to the next level" and "From the extensive embrace of NFTs and cryptos". It's like they are writing from a different reality or plane of existence. Hard to take this shiat seriously.

Blockchain is a valid technology, been around for more than a decade. But based on actual evidence it's not the messianic solution that's going to solve all our problems. The blockchain offers nothing new or worthwhile to the universe of technology. It's a one trick pony whose only application is creating censorship resistant crypto investment schemes, an invention whose negative externalities and capacity for harm vastly outweigh any possible uses.
 
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