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Big Revolution - Inevitable Coin Obliteration

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Welcome to the start of another week of Big Revolutions. My week includes sense-checking a startup's
 
August 6 · Issue #162 · View online
Big Revolution
Welcome to the start of another week of Big Revolutions. My week includes sense-checking a startup’s launch plans, improving another’s blogging strategy, training a PR company, and meeting an investment bank. Viva variety!
Martin

Big things you need to know today
  • Apple has removed most of InfoWars’ podcasts from its distribution platform. This is likely to be a big knock for the conspiracy theory outlet, which has lately faced increasing pressure from the platforms that host its output.
The big thought
Buy? Sell? HODL? Credit: Chris Liverani on Unsplash
ICO = Inevitable Coin Obliteration?
I read with interest this morning (via this tweet) that a startup that had allowed the public to invest in it via an initial coin offering (ICO) is discontinuing the crypto tokens it had created for investors to buy.
The idea, as is standard with ICOs, was that rather than shares in the company, investors would receive tokens they could spend on using the product, or sell – hopefully at a markup – to other customers.
As Digipulse explains: “Out of the 320 service sign-ups we’ve had until July 25th, only 2 people have actually allocated tokens to the service, meaning that only 2 people have actually used the DGPT token for its main purpose.”
Everyone else, it seems, was simply speculating on the coin rising in value so they could sell it at a later date.
Anyone could have seen this coming. The smell of ‘get rich quick’ schemes and goldrush-like speculation taints most serious attempts to do interesting things with cryptocurrency and blockchain tech. No wonder so many companies that raised money via ICOs last year are already dead. Some were scams all along, and others were a case of misguided entrepreneurs thinking they could change the world simply by using a blockchain where one was never needed.
After the dotcom crash of 2000, it took a couple of years, but the internet technology scene began to bounce back with 'web 2.0’ products and a series of innovations that led to the smartphone and the world we have today.
It’s likely we’ll see a similar situation with cryptocurrencies and blockchain. The prospectors will move on to the next easy-money fad, and the people working on serious technology will develop uses for it that aren’t just a case of bolting a token onto a business that doesn’t need it.
But I suspect quite a few people will lose big money along the way, and sadly it won’t be the scammers.
One big read
Why iPhone and Android phone prices will get even higher Why iPhone and Android phone prices will get even higher
Top-tier smartphones are likely to become even more expensive – and that’s partly because people are willing to pay for them.
One big tweet
With great power comes great responsibility.
Dave Pell
That Apple has removed Infowars from its podcasting network is a very good thing.

That a tech corporation has the power to edit our information universe is very scary thing.
6:12 AM - 6 Aug 2018
That’s all for today...
See you tomorrow. Don’t forget; you can help me reach more people with BigRevolution by sharing it with others. Just send them this link and encourage them to subscribe.
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