3 ms·

A lot of blockchain tech startups raise money and then turn around and invest in other startups. I think we're gonna look back at this in 5 years and collectiv

A lot of blockchain tech startups raise money and then turn around and invest in other startups. I think we're gonna look back at this in 5 years and collectively say, what were we thinking?

arcanus 8y ago
> we're gonna look back at this in 5 years and collectively say, what were we thinking? We did that after the housing bubble in 2008 (low down payments, flexible credit ratings, etc.) The big question is: could this also be a systemic risk to the economy? No one liked bailing out the banks, but it was necessary to save the economy. It is not clear tech or crypto are similarly critical.
- toomuchtodo 8y ago
  Tech? Probably not. But there is a lot of novice (polite term) money in crypto now.
- hobofan 8y ago
  I think it's already pretty clear that crypto doesn't need bailouts. The total cryptocurrency market size is at 1/4th of what it was at the beginning of the year, and there haven't been any significant results because of that. I would wager that the remaining 1/4th could be wiped out and it's still pretty much the same. Crypto projects were always very removed from the real world, both in valuation and usage (so if crypto vanishes it doesn't impact other companies). The biggest result of the crypto market correcting will probably be software engineer salaries becoming a bit lower again (outside of SF).
asaph 8y ago
Protocol Labs (best known for developing FileCoin & IPFS) launched a $5M crypto grant program.[0] [0]https://www.coindesk.com/blockchain-startup-protocol-labs-announces-grant-program https://www.coindesk.com/blockchain-startup-protocol-labs-an...
- hobofan 8y ago
  I think grants are a whole different thing, especially in the cryptocurrency space. A lot of your value depends on how interoperable with other systems/protocols in the space, and grants can incentivize prioritized work on that interoperability. Protocol Labs grants are again a different thing since they are essentially traditional academic research grants.
deleted 8y ago
[deleted]
sonnyblarney 8y ago
"I think we're gonna look back at this in 5 years and collectively say, what were we thinking?" Many of us are already thinking that :)
goldfeld 8y ago
Why, let the US sink itself in inequality if that's what university people want. So much for the liberal arts major navigating society, the dream is gone, the song is over.

A lot of blockchain tech startups raise money and then turn around and invest in other startups. I think we're gonna look back at this in 5 years and collectively say, what were we thinking?

arcanus 8y ago

> we're gonna look back at this in 5 years and collectively say, what were we thinking? We did that after the housing bubble in 2008 (low down payments, flexible credit ratings, etc.) The big question is: could this also be a systemic risk to the economy? No one liked bailing out the banks, but it was necessary to save the economy. It is not clear tech or crypto are similarly critical.

toomuchtodo 8y ago
Tech? Probably not. But there is a lot of novice (polite term) money in crypto now.
hobofan 8y ago
I think it's already pretty clear that crypto doesn't need bailouts. The total cryptocurrency market size is at 1/4th of what it was at the beginning of the year, and there haven't been any significant results because of that. I would wager that the remaining 1/4th could be wiped out and it's still pretty much the same. Crypto projects were always very removed from the real world, both in valuation and usage (so if crypto vanishes it doesn't impact other companies). The biggest result of the crypto market correcting will probably be software engineer salaries becoming a bit lower again (outside of SF).

asaph 8y ago

Protocol Labs (best known for developing FileCoin & IPFS) launched a $5M crypto grant program.[0] [0]https://www.coindesk.com/blockchain-startup-protocol-labs-announces-grant-program https://www.coindesk.com/blockchain-startup-protocol-labs-an...

hobofan 8y ago
I think grants are a whole different thing, especially in the cryptocurrency space. A lot of your value depends on how interoperable with other systems/protocols in the space, and grants can incentivize prioritized work on that interoperability. Protocol Labs grants are again a different thing since they are essentially traditional academic research grants.

deleted 8y ago

[deleted]

sonnyblarney 8y ago

"I think we're gonna look back at this in 5 years and collectively say, what were we thinking?" Many of us are already thinking that :)

goldfeld 8y ago

Why, let the US sink itself in inequality if that's what university people want. So much for the liberal arts major navigating society, the dream is gone, the song is over.