Saw a snippet in the WSJ this morning that Applied Blockchain Nasdaq: APLD a company that builds and leases out space in their data centers for crypto mining has decided to change their name to “Applied Digital Corporation” reflecting the Company’s broad services and offerings for HPC applications. The name change is to be voted on by shareholders at its upcoming Annual General Meeting on November 10, 2022
I guess when you’ve got Blockchain in your name, and the Blockchain market is tanking, you gotta change your name to keep folks interested in what you do.
But they’re not doing anything different, just changing their name.
I don’t know what the price of crypto will do, but thus far there are not very many practical uses for blockchain. Most of the proposed uses are things you don’t need blockchain for. For example, here is a list from TMF of blockchain uses. You don’t need blockchain for any of them. Here is one of the proposed uses:
> > ## 15. Gambling
*> > * > > The gambling industry can use blockchain to provide several benefits to players. One of the biggest benefits of operating a casino on the blockchain is the transparency it provides to potential gamblers. Since every transaction is recorded on the blockchain, bettors can see that the games are fair and the casino pays out. Furthermore, by using blockchain, there’s no need to provide personal information, including a bank account, which may be a hurdle for some would-be gamblers. It also provides a workaround for regulatory restrictions since players can gamble anonymously and the decentralized network isn’t susceptible to government shutdown.
Why does the casino want players to see the games are fair? They aren’t fair, that’s why casinos exist. Next, you don’t need a bank account to gamble. And do we really need to make it easier for the unbanked to gamble? Is that smart?
And specifically what regulatory regulations do we need blockchain to work around? Is the big advantage to facilitate criminal activity??
And this type of mindless drivel is coming from a prominent financial website, mind you.
I am looking over the chart for $ethusd earlier this morning. Trying to see if holes can be poked in it. The 2018 crash into 2019 was a lot of selling pressure, huge volume, the smart money moving in.
Right now with the merge done the older guys in September and early October were getting out. But no volume. There is very little volatility now. Instead Eth is just waiting. The selling pressure CMF for 2022 has been there but now is drying up.
Any equity is a gamble unless you know when to enter. The bond markets are more volatile than the equities markets.