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Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

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Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#111

Post by topmonk »

partiallypro wrote: post #68
proofofstake wrote: post #30

ROI of creating an investment portfolio 1 year ago, and selling today: - All Bitcoin: ~500% - Mix of top market: ~2800% - All Strat: ~13500% Meanwhile, stock investors call 12% a good year.

Now compare total market capitalization of equity markets to Bitcoin. I doubt you could liquidate millions of dollars of bitcoin in a day and not make the market plummet. You can do that in the last 30 minutes of the stock trading day with no very little price fluctuation. There are equities that are up triple digits, including Nvidia...who is realistically the biggest winner in crypto mining.

I can personally assure you that isn't true ;)

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#113

Post by mercurialshark »

eksemplar wrote: post #105
ballenf wrote: post #65

Earlier quoted context omitted.

I got removed from a project because I was raining on everyone's blockchain fantasy. Later they begrudgingly admitted that blockchain wasn't going to solve the hard interoperability problem we were facing (bog standard need to pull & analyze data from multiple incompatible data stores held by multiple independent parties). I can forgive all the business guys for that thinking given articles like these, but the tech g…

The tech isn't going to die, it's just not going to change the world in any sexy way. Maersk is using it for something as boring as secure claims for containers to fight corruption in shipping. In government we're looking into running things like the land ownership registry and other public records on the tech. Not because it's hip, but because it'll save employee resources when we have to perform less audits, and be…

Property title, availability of airspace, really any complex system that requires mutual cooperation (or at least awareness) could benefit from uniform distributed ledger technology.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#114

Post by thisisit »

ooOOoo wrote: post #93
bartread wrote: post #83

Earlier quoted context omitted.

Yup: it's the Big Data hype train of 2013/2014 re-liveried and stopping soon at a station near you.

According to Gartner, blockchain has just passed the "Peak of Inflated Expectations". Next phase is "Trough of Disillusionnment". http://www.gartner.com/smarterwithgartner/top-trends-in-the-...

This one is funny. While cryptocurrency gets most of the brickbats around here on HN, I think Deep Learning is also in the same boat.

Executives want to apply Deep Learning to everything and anything they can get their hands on. The results most of the time are underwhelming and could be had with a much simpler set of tools. Just wondering how long before Deep Learning goes into trough of disillusionment.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#115

Post by thisisit »

puranjay wrote: post #109
ballenf wrote: post #65

Earlier quoted context omitted.

I got removed from a project because I was raining on everyone's blockchain fantasy. Later they begrudgingly admitted that blockchain wasn't going to solve the hard interoperability problem we were facing (bog standard need to pull & analyze data from multiple incompatible data stores held by multiple independent parties). I can forgive all the business guys for that thinking given articles like these, but the tech g…

The tech media (and tech startups) has this bad habit of hyping up technologies before they're ready for prime time. They did it with 3D printing, they did it with VR, and now they're doing it with blockchain.

As well as deep learning and AI.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#116

Post by ramphastidae »

ooOOoo wrote: post #93
bartread wrote: post #83

Earlier quoted context omitted.

Yup: it's the Big Data hype train of 2013/2014 re-liveried and stopping soon at a station near you.

According to Gartner, blockchain has just passed the "Peak of Inflated Expectations". Next phase is "Trough of Disillusionnment". http://www.gartner.com/smarterwithgartner/top-trends-in-the-...

Very interesting chart.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#117

Post by xiphias »

ballenf wrote: post #65
almostApatriot1 wrote: post #43

> Johnson said that the company had made several venture investments in bitcoin-related businesses and that the company was looking at applications of blockchain technologies alongside several leading universities. Every crypto article makes the same vague claims about the potential of non-specific blockchain technology. I'm surprised there was no mention of replacing Visa in this one as well.

I got removed from a project because I was raining on everyone's blockchain fantasy. Later they begrudgingly admitted that blockchain wasn't going to solve the hard interoperability problem we were facing (bog standard need to pull & analyze data from multiple incompatible data stores held by multiple independent parties). I can forgive all the business guys for that thinking given articles like these, but the tech g…

There's an easy way to not be frustrated: just buy Bitcoin independently from what you're working on. If you understand what that means to own BTC 10 years from now, you know that malinvestments won't get you frustrated.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#118

Post by LoSboccacc »

thisisit wrote: post #114
ooOOoo wrote: post #93

Earlier quoted context omitted.

According to Gartner, blockchain has just passed the "Peak of Inflated Expectations". Next phase is "Trough of Disillusionnment". http://www.gartner.com/smarterwithgartner/top-trends-in-the-...

This one is funny. While cryptocurrency gets most of the brickbats around here on HN, I think Deep Learning is also in the same boat. Executives want to apply Deep Learning to everything and anything they can get their hands on. The results most of the time are underwhelming and could be had with a much simpler set of tools. Just wondering how long before Deep Learning goes into trough of disillusionment.

On the job I have to constantly shoot down big data / data mining / intelligent nn analysis crapware showeled to my bosses, and 99% of the time the answer is “you got NO data to speak of”

One day a consultant or another yesman will be able to check in and syphon precious resources with their pipe dream and I’ll watch six figures fly out of the window while my dev team struggles debugging simulated ipads with mac minis.

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#119

Post by LoSboccacc »

xiphias wrote: post #117
ballenf wrote: post #65

Earlier quoted context omitted.

I got removed from a project because I was raining on everyone's blockchain fantasy. Later they begrudgingly admitted that blockchain wasn't going to solve the hard interoperability problem we were facing (bog standard need to pull & analyze data from multiple incompatible data stores held by multiple independent parties). I can forgive all the business guys for that thinking given articles like these, but the tech g…

There's an easy way to not be frustrated: just buy Bitcoin independently from what you're working on. If you understand what that means to own BTC 10 years from now, you know that malinvestments won't get you frustrated.

Most of the future btc value is already inflating the current currency value.

And there’s still the risk of a crash and switch in that long of a timeframe.

I bet there’s more money to be had at cryptocurrency arbitrage

Re: Fidelity CEO Abigail Johnson says the company is mining cryptocurrencies

#120

Post by thesumofall »

ballenf wrote: post #65
almostApatriot1 wrote: post #43

> Johnson said that the company had made several venture investments in bitcoin-related businesses and that the company was looking at applications of blockchain technologies alongside several leading universities. Every crypto article makes the same vague claims about the potential of non-specific blockchain technology. I'm surprised there was no mention of replacing Visa in this one as well.

I got removed from a project because I was raining on everyone's blockchain fantasy. Later they begrudgingly admitted that blockchain wasn't going to solve the hard interoperability problem we were facing (bog standard need to pull & analyze data from multiple incompatible data stores held by multiple independent parties). I can forgive all the business guys for that thinking given articles like these, but the tech g…

The sceptics in the shipping industry are plenty as well, though. And it has been awfully quite around that pilot. Many wonder if the real challenge is really trust or not just incompatible data formats and plenty of non-digitized data...
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