1000 Crypto Projects Are Dead - Good!

I'm trying a new format here with embedded videos and auto-transcription. Let's see if this works.

I hate just video posts. I also hate dlive and dtube that take me away from my steem interface. When they figure out embedding then they will have a customer.

Transcription:

okay so I came across this article on
TechCrunch over 1,000 crypto projects
are considered dead now and it's short
so I'm just gonna read it real quick
more than a thousand of crypto projects
arm already dead as of June 30th 2018
according to a recent TechCrunch report
the news outlet has based its claim on
TANF room to websites coin-op C and dead
coins quite up C provides daily reviews
of various crypto currencies including
ones that are already dead it defines a
dead token as exhibiting at least one of
the following abandoned scammed website
dead no notes while at issues no social
updates low volume or developers have
walked away from the project according
to coin op C's list there are 247 dead
cones as of press time these include The
Notorious BIG Connect that was shut down
in January 2018 and is described by the
website as the most successful Ponzi
scheme in crypto so far dead coin
similarly has 830 item long list of dead
crypto currencies among them is the
recent titanium blockchain
infrastructure services initial coin
offering that was shut down by the US
SEC for fraudulent practices according
to the SE c--'s press release titanium
raised 21 million dollars from investors
from the US and other countries in its
statement the SEC warned investors about
icos as an extremely risky type of
investment as coined elf graph reported
Friday the volume of I SEOs has reached
13.7 billion dollars in 2018 so far
which is already twice as much as the
market amounted to in the entire 2017
according to TechCrunch scam and dead i
ce o--'s raise 1 billion dollars in 2017
On June 21st Nasdaq CEO Adina Friedman
warned that ICO posed serious risk for
retail investors claiming that projects
that raise money this way have almost no
oversight earlier in June crypto
evangelist John McAfee said he stopped
promoting ICC's ICO is due to alleged
threats from the SEC and that's it so
yeah a thousand projects are dead that's
probably right be hand-wringing
I have IC over it is kind of overdone in
my opinion to talk about the ICO number
first of all so you know a lot of that
is gonna be EOS
you know you must raise what was it for
dollars in just one project so you know
damn I made it work whatever remains
working
I think I'm hopeful but you know a lot
of people are pointing out some problems
I think long term we will survive but
you know it's always one of those things
but for the rest of it the other nine
billion dollars you know the market is
you know if we just talk about Bitcoin
you know it's at six thousand right now
as opposed to you know a thousand back
in the beginning 2017 so you know even
though we had our $20,000 peak and then
they don't coming a crash down to six at
least so far you know it's still much
higher than were for most of 2017 and
you know people who got into crypto late
or lately you know sometimes that's
missed in the in the perception of
things so yeah I mean things got more
popular nine billion extra dollars
outside of AOS ones raised compared to 1
billion back in 2017 certainly possible
but you know the thing about it is is
that this is actually a good thing you
know it's it's a new market it's a new
asset class there's going to be trials
and tribulations some things are going
to work most things are going to fail
and that's just kind of how the whole
creative destruction thing works people
have to try things and people have to
learn the lessons of you know if
something sounds too good to be true
like they connect it probably is just
because it's a new type of money does
not mean that all the old lessons of
money are no longer apply you know
people trying to get 20% per month or
whatever it was them promised through
big connect you're probably gonna have a
bad time and you know I personally knew
a couple people who were in big connect
and you know knew it was probably a scam
but you know you know they were playing
the odds and maybe they get their money
out before it collapsed they didn't but
you know the effort was there so yeah I
eight hundred thirty and two hundred
forty seven currencies
no projects are dead you know that's
just a sign of the market trying new
things figuring out what doesn't work so
that in the end we consider what does
work because you know in in in reality
nothing in science or engineering or
anything really is as as crisp and clean
as you know you learned in school so you
know lots of things get screwed up you
know 3ms sticky pad thing you know it
was a failure of super glue these this
is how markets evolve and how how entire
assets evolve so you know I look at this
as like yes people lose money lessons
learned hopefully and you know that's
just a sign of the market maturing
anyway that's why I thought a time let
me know what you think below