Corporate America's Blockchain and Crypto Fever may be over
Corporate America appears to not be nearly as interested in blockchain and crypto as they once were.
Oh how the times have changed.
During the crypto boom of late 2017 and early 2018, S&P 500 executives were falling all over themselves trying to include "blockchain", "bitcoin", and "cryptocurrency" buzzwords into their earnings and conference calls with analysts and investors.
Fast forward to today, and that trend has fallen off a cliff.
Some stats:
Check out the numbers for how often S&P 500 executives mentioned "blockchain/crypto" in each quarter's earnings calls, starting with Q1 2017 and ending with Q4 2018...
"Blockchain" mentions are on the left and "Bitcoin/Cryptocurrency" are on the right:
As you can see the number of times mentioning blockchain exploded in Q1 and Q2 of 2018, however, in Q4 those mentions have fallen off a cliff.
In fact, we are all the way back to Q2/Q3 levels of 2017 in terms of how often blockchain is being mentioned.
Mentioning bitcoin or cryptocurrency is even less popular.
Those numbers are already all the way back to Q2 of 2017 numbers.
Mentioning bitcoin/crypto was never as popular as mentioning blockchain but they have followed a similar trend of usage.
What this means?
To me this means one of two things.
It either means that there really aren't as many use cases or needs for blockchain and crypto as many had initially thought...
Or...
It means that much of the hype from late 2017 and early 2018 has just about fully worn off.
Which would likely mean we are close to a bottom in prices.
Now that the air has mostly been let out of the space, prices should be able to find a solid footing from which to build from going forward.
The next few months may continue to be rocky, but if this tech is really as important to our lives as many people think, we are just building our new base from which to launch from the next time.
Hopefully we are all holding the right batch of coins that is around for the next ride up, steem included.
Stay informed my friends.
Image Source:
https://foreignpolicy.com/2018/08/02/america-needs-a-blockchain-strategy-asap/
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The trouble with looking at anything from "corporate world" is that they are all jargon and no substance. Buzzword Bingo is one of example of playing on this boardroom bullshit.
Now, about the use cases... There are tons of use cases, however, what "corporate world" tries to do is just repackage existing brands to keep up with the buzzwords. And so, most of the projects i heard from corporate land were nothing-burgers. At most, just a way to outsource their database support.
However, the real movement has not died down. Lots more job offers in the field of blockchain are being sent out.
And, cryptocurrency has its biggest hurdle still in front of it. It needs to get to the early adopter stage. Right now, only innovators are really looking at it. And there is a GIANT gap between the hype on one side and the actual adoption on the other. So, we could see this whole thing implode. It has happened before.
However, cryptos are just that much better than fiat, that i believe they will hit ignition. And that now we are at the bottom of the market. Prepare for the fake rise, before the real rise.
I agree with a lot of this. In regards to which cryptos will survive and eventually rise again, where does steem fit in?
Somehow this doesn't surprise me at all. Not entirely sure why, but it doesn't.
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This kind of action seems to lag price. When prices go up everyone talks about it. When they go down, no one talks about it anymore. Seems like a good lagging indicator and possibly a contrarian buy indicator.
I cancel a bunch of automatic buys that I had on coinbase. I didn't really think they were doing me much good. I tend to take a more realistic approach, only buying when things were down. Then again, it's only two exchange to participate up here anyway. LOL
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What were you buying and what prices?
$100 a month. I couldn't do that anymore.
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What coins? BTC probably not a bad idea to do that...
Litecoin as well.
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Doesn't look as good news, but news are still far better than no news. Keep holding
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I think it is most likely a lagging indicator if anything else. I think as prices go up this will pick up again.
Totally agree. The vast majority of crypto alt coins will at some point just disappear. This is Darwin in action. A few are going to fill the space that is cryptocurrency. Given the last 8 years I do not suggest betting against Bitcoin, as some so desperately want to do. The other survivors are anyone's guess.
What is your guess? Will steem be one of them?
My guess would be that science-based cryptocurrencies such as Gridcoin and Curecoin will stay because they are inherently useful. As for others, I don't know.
Steem is a great idea and represent an existential threat to Facebook. That is a strength and a weakness. A strength because Steem will pay you to create content -Facebook does not. If Steem gained enough traction to actually challenge Facebook they have the means and resources to go to war. For example, BETA was much higher quality than VHS and we all know how that ended. There are too many variables to just assume the better idea will win. I do not know if the flame wars are still continuing because I muted all involved to avoid all the negative BS. If they are still littering each other’s comments with poop mojies, etc., then no, I do not think Steem will prevail. That behavior is off putting. Facebook suffers the same trash talk but they are a mature platform with over one billion users. It is us who must challenge the existing norm. That requires our platform to be both friendly and user friendly. Having 3 forms of Steem, with different uses and values, is just plain confusing to the uninitiated. I am not a tech guy so I see the problem but can offer no solution. I have over 3,800 in Steem power so I have voted for Steem with my wallet. Somedays it seems like more hope than two fisted analytics. Sometimes ya gotta go with heart, right? HODL, everybody. Go STEEM!!!!
If SMTs are not a massive success I am not sure exactly where steem fits in. It is pretty clear the developers gave up on 'fixing' the economics of steemit.com long ago.
I want to see BTC on the second place on market cap...I wish I knew wich one will be on the first place so I could buy some right now. do you think we will see any other coin on the first place?
damn if this is true
I fear there would be a lot of PDing going on around
on the contrary .. the time they made too much noises sent it up to a spike but all they did was sell, too
I remember the time someone was invited to talk about BTC on tv, my husband and I thought it would be weeks away to selling and it was
and the funny part is - the people who were selling
were surprisingly the ones you don't expect to be involved in it
they must be secretly and quietly hodling, too
but this is cryptoworld - so damn unpredictable
I think most likely these numbers just lag prices. If prices go up and everyone talks about it, so does corporate America. If prices go down and they are less popular, no reason to talk about them as much. I think the tech will still play a big role.
could be, too
am still rooting and crossing my fingers to your early predictions about its price probably rising this month
who knows it might still moon this month ... and if not .. history has already repeated itself so many times :D
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Cool, thank you for this.
now they are mentioning cannabis ... follow the money bubble
Yep, more like short the money bubble. :) Usually by the time everyone is talking about something it is time to sell it or short it, not buy it. Which means this may be a contrarian buy indicator currently.
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nicely and clearly stated and agreed... basically the weak hands and platforms will and are going to fall away or adapt or last long term it just isn't abundantly clear on the myriad of directions all of this will take yet imho
Correct, which is there is the potential for such great returns. It's akin to buying lotto tickets. Some will payout big time, most will be losers.
and today is seeing a lot of this come to fruition to put it mildly, this certainly isn't a 'game' for the faint of heart imho