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Furthermore, we're starting to see that all those crypto startups have made so much money from their ICOs that they're starting to distort the job market as wel
by pyb 9y ago
Furthermore, we're starting to see that all those crypto startups have made so much money from their ICOs that they're starting to distort the job market as well.
The kind of engineers who'd be naturally drawn to smaller startups and didn't want to work for Google or Facebook, are now being attracted to the crypto space in ever greater numbers. For that reason, it will become even harder to start a non-crypto startup in the near future.
I think this will become more and more obvious throught 2018 and 2019.
- api 9y agoYet what have any of these startups delivered other than tools for the crypto world? The whole thing seems almost 100% self-referential. It's like a financial MMORPG. Does the crypto world have anything to offer the real world? Personally I've only seen one common use case: currency and wire transfer. As the OA correctly points out this use case is being harmed by currency hyper-deflation and fee inflation. Even the black market use case is faltering for these reasons. Few ICO projects are even usable. Most don't even exist. Of those that are usable I can off the top of my head think of only one that seems to have any utility that doesn't recurse into crypto: Siacoin. Siacoin apparently works but it's not a compelling alternative to Amazon S3 or Backblaze, so its utility is minimal at best.
- pyb 9y agoI am not saying these crypto startups are doing anything useful ! 90% + of them aren't. Which is why their increasing hiring power is getting to be a problem.