~snip~
It appears blockchain projects have an extremely high failure rate. Here's a dotcom bust comparison the critics needed but didn't deserve! Of course, the high failure rate doesn't have to imply blockchain is overrated or has few legitimate roles in software. It could simply imply that the number of open source developers and small start up launches greatly exceed demand for the technology, creating a high number of spinoffs which are structured around short term gain and exploiting brand name recognition of bitcoin, rather than creating long term value.
It's obvious that this extremely high failure rate is due to everyone who's capable of launching blockchain projects trying to get their share of the profits.
This causes scams, incomplete and pointless blockchain projects. It shows that cryptocurrencies are in a bubble, especially Bitcoin: People invest in it purely to make profit, not for its usage as an anonymous, decentralized online currency.
Though this is an awesome opportunity for the Crypto-Critics to call it a mass-scale bubble once again and this time with "evidence" too, it's not at all a good comparison to the Dotcom garbage two decades ago.
Sadly, both Bitcoin fans & Bitcoin critics are too ignorant of the facts to deliver a good judgement.
92 percent was scams, as usual.
More. Some scams haven't been revealed yet.