Bitcoin @ $100K: Is Crypto a Currency, an Investment, or a Scam?

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Featured Image credit: FREEPIK

During the 2024 US Presidential campaign, candidate Donald Trump indicated strong support for cryptocurrencies, attended the annual Bitcoin Conference, and even theorized the US might help pay off its national debt with crypto. In the wake of Trump’s election to the Presidency, Bitcoin ($BTC) hit $100,000 per coin (current price here). As always, its sharp rise brought out two competing camps: cheerleaders/profiteers urging investors to “get in now,” and naysayers telling anyone who will listen to keep their (real) money in their pockets because crypto is a scam.

My own take on crypto also offers dual (and dueling) choices. I believe the crypto community can either [1] make Bitcoin or potentially another coin a global standard buyers and sellers can rely on to deliver and hold value in everyday transactions; or [2] continue pushing crypto as an investment vehicle/get-rich-quick scheme. [If you haven’t heard Nikki Glaser’s beyond-hilarious set on the Roast of Tom Brady on Netflix, including the bit of the night about Brady losing millions on crypto, enjoy that killer bit here.]

The first and often only rationale you’ll hear from crypto naysayers is, “It’s not backed by anything.” Reality check: all currencies not backed by a physical element such as gold — like, for example, the world’s currency of record, the USD, since the US took it off the gold standard in 1971 — have value only because people and markets agree they do. So “they’re not backed by anything” is a willfully uninformed reason to cast aspersions at Bitcoin and other cryptocurrencies.

What does feel different to me about Bitcoin is that it seems way less about “being a currency” and way more about “I wanna get mega-rich on Bitcoin like the Winkelvoss twins” of Facebook fame/infamy. Having navigated the whole less-than-scrupulous mystery world of “You’d better get a digital wallet to protect your crypto, if not anyone including us can steal your crypto holdings from any crypto exchange, but wait that’s the wrong kind of wallet” makes it indeed feel like a scam. It also appears designed to discourage the critical mass of normal citizens and consumers from using it as, you know, a currency — TO PAY FOR goods and services.

Crypto has served solely as an investment vehicle for us thus far, a tiny fraction of our holdings, and I’m happy to keep it that way. In a recent year Coinbase stopped dealing in Bitcoin Cash (BCH). This was interesting because we never wanted any BCH, and the only reason we held any in our account was that Coinbase had previously converted another coin into BCH. In Coinbase-Manufactured Transaction #2 — where Coinbase made it impossible to move our BCH elsewhere, liquidated it, and converted it to yet something else — it took a sizable percentage of the proceeds from us for “fees.” I have a life to lead and it wasn’t life-changing money, so the documentation and screenshots lie dormant on file, ready for future action.

This kind of unsavory behavior from Coinbase, and similar conduct by Robinhood, firms that are supposedly safe harbors for non-criminal regular investors, make Theory #3, “Crypto is a Scam,” the leader in the clubhouse.

Mac Links LIVE!

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For I think 10-15 years now I’ve been using the Office suite on PC to make PDFs of Word, Powerpoint, and Excel files and never gave links a second thought. You embed links in text like this in the source file and they’re live in the PDF. Fonts and layout are identical to what you created in the source file.

Not on Mac.

Oh, if you simply type out links as text, e.g., https://www.crunchbase.com/person/jeff-cotrupe, they do save as live links in PDFs. But it is self-evident why that is sub-optimal. Pretty much everywhere in all applications people embed links in all content like this, and that is the standard.

Create a file in Office on the Mac, save as PDF and you’re presented with two choices:

  • Saving your PDF as “Best for printing” preserves fonts/layouts but kills the links.
  • Saving as “Best for electronic and accessibility (uses Microsoft online service)” gives you live links, but is also dependent upon which fonts Microsoft has loaded on those servers. In any file I’ve ever tested, this method massacres fonts and layouts and is unworkable.

After much experimentation and testing, here are the only two ways you can use Word on a Mac to create PDFs with embedded live links AND the fonts and layout of your choice:

[1] Use Word for Mac to create your doc. Save as Best Print Quality. Your embedded links are dead. Buy Acrobat Pro DC for $450 or license it for a year for $180. Open your PDF and the source Wordfile. Copy link locations for all links in Wordfile and paste them in into new link boxes you create over those same words or phrases in PDF.

[2] Buy Parallels, Windows 10, and Office for your Mac. Parallels virtual machine frees Word to do on Mac what it does on PC: save embedded live links in PDF. Not sure what it cost my company to buy Parallels and Windows 10 licenses, and the new separate license for Office to use in Parallels.

Long way and lot of money to go just to create live links AND not demolish your fonts and layouts when saving Word to PDF on a Mac, right? But those are your choices.

I bet Microsoft, Apple, and Adobe could get together and fix this in a New York (or Seattle, or Silicon Valley) minute. But there’s a lot of money changing hands in #s 1 and 2 above, so…

I’m now at MongoDB!

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I am now a proud member of the Product Marketing team at MongoDB: the first database company to go public in more than two decades (NASDAQ: $MDB), its business growing at ~50% YoY, with the technology and vision to take on the multibillion-dollar incumbents as it disrupts and reshapes an entire industry. As an analyst I had forecast a total market opportunity of $67.89 billion in big data and analytics by 2019, growing to nearly $111 billion by 2022. I am excited to be at a truly global company capturing a sizable and growing share of that opportunity!

My role is Senior Solutions Marketing Manager, a core part of an energetic and globally distributed team reporting to the Senior Director, Products and Solutions, based in the UK. I am responsible for driving solutions marketing and GTM content positioning the UVP of our product/services portfolio to a senior audience.

If you are not already using MongoDB, let’s talk about what it can do for you and your organization. If you are, I’d like to hear how you are doing. You can find me at any contact point on the Connections page and I’ll be in touch soon.

WELCOME to a more competitive e-commerce market

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Attended the eTail West event two years running…placed two online orders during roughly the same period with a company I lovingly dub the Retail Death Star…had a deadline to meet for the IDG Infoworld blog…and it led to one of my most fun-to-write blog posts ever. The WELCOME mat above plays a pivotal role in the piece, but IDG wouldn’t run this photo because it doesn’t publish anything but its own internally approved pix. So here it is in all its boldly leaf-strewn glory, beckoning you to walk right over it and enjoy all the e-commerce action here.

Before I go: some of the arboreal wonders giving the mat that leafy look.

Innovating for Dollars: AI / ML / Deep Learning / Cognitive for Financial Institutions

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When Letterman was still hosting the Late Show, from time to time he’d say: “And if all THAT weren’t enough…and by golly, don’t you think it ought to be,” and would go on to mention something else that was noteworthy about the show or a guest.

Bear with me, I’ll go back to that in a moment, and it will tie into our discussion…which is about AI. AI is forecast to drive GDP gains of $15.7 trillion globally by 2030.* No organization can afford to miss out on its share of those trillions in opportunity. Adoption is low thus far, however. In Stratecast’s 2017 Big Data and Analytics Survey, only 20% of organizations said they are considering, planning, implementing, or using it. We think one part of it is market confusion; another is organizations not seeing the link between AI and revenue—both growth and retention.

Let’s first dispel some confusion surrounding AI. My practice analyzes big data and analytics (BDA), and here is where AI fits at a functional level: the Business Process and Strategic Analytics (BPSA) area of the BDA market. BPSA represents about one-quarter of the overall BDA market, which we assessed at more than $53 billion in 2017, and which we forecast to grow to nearly $68 billion by 2019.

Now let’s talk about other linkages between AI and money. Ever heard of Alexa and Siri? Amazon? Facebook, Google, Netflix, Tesla, and Uber? These and a multitude of others are making money right now by applying AI to their businesses. But wait, you say, what about financial institutions? Well, how about one of the largest online financial trading services in the world? It has used AI to reduce support costs by 80%. Or consider how, with hundreds of forms and more than 350 online apps, associates at a top-10 Wall Street investment firm were spending an average of 20–30 minutes looking for each form or app. The firm is now saving an estimated $32 million annually by applying AI to those and related processes. Even these examples, however, reflect a financial services market that is only beginning to scratch the surface of all the ways AI can benefit financial institutions. Customer-facing applications of AI include learning customer patterns and motivations to help guide them toward better financial decisions. In the back office, AI can, similarly, guide a financial institution’s own investment decisions. AI can automate tasks in many areas including underwriting, reconciliation, the development of risk models, and basic handling of incoming data and queries.

Sounds good, right? But delivering on the promise of AI requires a vision for applying smart analytics to the business. Nowhere is that concept more fitting than when talking about Tableau. Tableau provides the foundation underpinning the adoption of new and emerging technologies with an enterprise platform that covers all the bases in governance and security to help financial service companies guard against security breaches and ensure privacy compliance. Tableau offers rapid performance against massive datasets, an effect now accelerated by Hyper, its fast main-memory database system designed for simultaneous OLTP and OLAP processing (transactions and analysis in a single system) without compromising performance. Powerful, self-service analytics drive innovation, encouraging employees to discover opportunities for new products and services, contributing to customer and revenue growth—and enabling them to quickly run scenarios to assess the impacts of new business models such as blockchain.

Back to Letterman: “And if all THAT weren’t enough…and by golly, don’t you think it ought to be,” Tableau also has a vision for smart analytics that transcends AI-supporting BDA firepower with some pretty impressive AI building blocks. On the NL front, Tableau acquired Cleargraph and is combining Cleargraph’s NLP capabilities with Tableau’s existing Eviza natural language interface; and the company has partnerships with Automated Insights and Narrative Science to add NLG capabilities to the mix. In development are Tableau’s new Recommendations Engine, which will enable discovery, help users reuse the work of others, and leverage knowledge of their communities; Model Automation, which will offer smart defaults, saving time and providing ease of use; and Automated Discovery, to help customers discover hidden insights and answer more complex questions.

Planning on revenue growth? Failure to harness the power of AI could be a showstopper. Tableau has the content and the connections to ensure that the show will go on.

*PwC, AI to drive GDP gains of $15.7 trillion with productivity, personalization improvements, available here

Sweet Home Alabama, and other thoughts

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Since around March 1 I’ve been working remotely from my personal favorite venue among the places I’ve lived and worked thus far in my lifetime: Huntsville, AL, USA. (You may find that quite a statement from someone whose current home base is Oceanside, CA, USA, just north of “perfect weather central,” San Diego.) The Rocket City, designated as such due to the omnipresence of NASA and other aerospace organizations and facilities in the metropolitan area, is home to my high school alma mater, Virgil I. Grissom High School, named after one of the three astronauts who lost their lives in the fiery Apollo 1 disaster.

Stratecast on Twitter

By contrast with the final mission of those three brave souls, my stay here has been a wild and wonderful ride that is not over yet. My current job as a global program director at Stratecast enables me to work remotely from anywhere with an Internet connection and an airport. So I’ve been working throughout the trip on my syndicated research reports, and growth consulting projects for great clients such as HP, based on the Big Data, analytics, and business intelligence market. I’ve even handed out my first technology innovation award for the year, which seems appropriate in a world-renowned hotbed of technology innovation such as Huntsville.

Big Spring Park in Huntsville, AL, USAMy mission on this trip has been personal as well as professional. Being in town from Wednesday through Sunday last July for my Grissom High School Reunion gave me just enough of a taste of the town to drive me crazy waiting for a return engagement. So my non-working hours have been chock-full of fun with friends, both lifetime and new, at Drake’sWatercressConnorsDing How II, The Mellow Mushroom, Humphrey’s, Grill 29, and beyond.

2013-03-04 17.59.46I’ve walked Monte Sano and Green Mountain, as well as Big Spring Park, where I did battle with a duck I am certain was the size of at least one model in the Kia fleet of vehicles.

I walked in the Huntsville St. Patrick’s Day Parade and rocked out that night at The Sports Page to great bands including power-rockers Black Label, who were so good I found myself virtually stage-jumping to the raw sonic fury. Along the way I’ve unleashed MarketPOWER+ social sizzle to help bring #SoMeT13US to Huntsville, and to thank The Rocket/95.1FM for tearing the roof off the Rocket City.

A Jeff's iPhone-eye view of walking in St. Patrick's Day Parade in Huntsville, AL, USAIt’s been a trip filled with work and play and discovery. Time to get back to it…

Newtown calls for new answers | Introduction & Part 1

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A dear cousin has a childhood friend whose daughter attends Sandy Hook Elementary in Newtown, Connecticut, USA. As I understand it, their young daughter was home sick on that fateful day, just before Christmas 2012, when a cowardly, misguided and, we learned, likely mentally deranged gunman sent 26 souls, 20 of them children, to Heaven.

If there is a God and if anything I have ever learned in my life means anything, when that gunman gutlessly turned the gun on himself, he sent his own soul to hell. I continue to petition our Lord and Savior to allow me 26 minutes in that inferno, one for every victim, to address the gunman directly and personally.

My cousin’s friend’s entire family is now sick themselves: sick with sorrow knowing they were spared the Newtown tragedy while so many they care about were not.

I am sick over this myself. Not because a friend of a close relative is at ground zero of this horrifying nightmare, although that certainly brings it closer to home. No, it is because while this cowardly, evil gunman acted alone, and in that sense he is the only one to blame for those 26 beautiful souls being swept from this earth, the factors that have brought us to this place as a nation — where it would now be a shocking week that did not include a shooting at a public place — make clear that in many ways, he did anything but act alone. In this situation, and so many sickening others at schools and malls across the U.S., it appears that things “fell through the cracks.” And while so many people in my lifetime have spoken those words to me, it seems as if we as a nation are so busy covering our political asses that we are letting this nation’s lifeblood and future fall through the cracks.

Partisan “Answers” Are What Got Us Here in the First Place

I am a registered Independent. Not because I’m “on the fence,” or indecisive, or don’t have an opinion. Actually, as you may learn if you bravely read on, I’m one of the most decisive people you may ever encounter, rabidly unafraid to stake out a position. No, I am a registered Independent because I simply cannot sell my political soul to one side or the other. You know the “sides”: Democrats versus Republicans. Liberals versus conservatives. Is our democracy at its core about the right of free speech, and more broadly than that, free ideas? You bet it is. Is robust debate a healthy ingredient in our democracy? Yep again. Yet here is what I believe had better STOP being a part of our democracy, this noble experiment, this shining city on a hill: this business of far too many Americans waking up every day “already knowing who they hate.”

…and my point is? Simple: if you’re reading along expecting someone who cannot wait to pounce on Newtown and other tragedies for partisan political advantage, you can forget it. If you hope to add partisan politics to it, through the kinds of vicious comments that make their way onto some of talk radio and The Daily Kos — well, daily — I have the only vote that counts when it comes to posting them here. Frankly, I am sick of it, and about it. Let the well-funded, entrenched idiocracies keep right on being part of the problem, creating and reinforcing political gridlock: the any-gun-for-any-reason NRA lobby, the every-criminal-has-a-heart-of-gold apologists, the any-abortion-at-any-time NOW lobby, the everyone-is-a-victim lobby. They’re all happy to keep “doing their worst”* to keep tearing this nation apart, and they’re doing a killer job of it.

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I live by this crazy principle, in political matters and all things: “Don’t tell me who you are. Show me what you DO.” We need all the great ideas, specific plans, hard work, and action we can get, or we’re not going to survive as a nation. The Chinese, the terrorists, the global economy are not going to wait around for us to figure this out. As Bill Clinton once said: “We don’t have a single person to waste.” And as a great many have said over our history: “time’s a wastin’.”

So on with the plan. Below is part 1:

GUNS AND PROTECTION OF FAMILY AND LIVELIHOOD

1) Immediate need: tighter gun control, and a ban both on assault weapons and the high-capacity ammunition they use. Federal law. We were at long last smart enough as a nation to end the idiocy of “drinking age 21 in this state, drinking age 19 in an adjacent state” that sent underage drinkers speeding across state lines to their death, and causing the deaths of untold others. Let’s figure out what we can all agree on and get it done. This business of “We’re not gonna enforce any gun control laws here in our county if we decide they’re unconstitutional”: hey, have the balls to go ahead and secede from your state, or the Union. As long as you’re part of THIS household…I mean, nation…you obey our rules.

2) If anyone breaks into your home or business, or pulls a gun or knife on you or anyone in your home or business, you or anyone acting on your behalf has the right to injure or kill them without being prosecuted for it. Federal law. Banning assault weapons and placing other limits on guns also removes a deterrent: witness gun-free zones such as schools and college campuses where most of these senseless mass killings are occurring; and much larger “zones” where it is illegal to carry a gun, such as, um, New York City. Right now killers know they are operating from a position of power against defenseless victims. It is time to take back the power.

3) Redefine the ridiculously limited current notion of “self-defense.” Federal law. Self defense is no longer to be construed as, “he was coming at me with the threat of immediate death or serious bodily harm to me — but if he stops, or turns away, I cannot do anything to him.” Let’s get real and stop pretending we don’t know what we all know: that anyone who would threaten violent death on others will be back. We are perfectly within our rights to eliminate that person so they will never again bring harm to us, our loved ones, or anyone else. We are under no obligation to stand by and wait ’til they come back to finish the job.

4) No one who is hurt or killed while they themselves were in the commission of a criminal act, nor their families or friends, nor anyone else on their behalf, shall be allowed to bring a lawsuit or negative action of any kind against those who hurt or killed the criminal. Federal law.

The cumulative effect of the changes in this first section, provisions 1-4, would be to show that we actually are serious and thoughtful enough not to simply place any weapon in anyone’s hands for any reason — while at the same time letting anyone contemplating a violent criminal act know that they are not cleverly preying on innocents. Instead they will know clearly that if they break into or otherwise enter anyone’s home or business with intent to commit a criminal act, it may well be the last thing they ever do.

* Thank you, Monty Python troupe

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“Newtown calls for new answers” is a five-part blog series, each of which focuses on specific areas I believe we must address, together, to help stem the rising tide of violence in America.

Introduction & Part 1 | NEXT: Part 2 | Part 3 | Part 4 | Part 5 & Conclusion

My pilgrimage to the musical motherland: U2

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…and other dispatches from Dublin during Management World 2011

Aye and Begorrah. The week I traveled to Ireland, President Obama did as well. Honestly not sure why he did not consult with me to sync up schedules…at any rate, the big news of the week for me professionally was attending an event-within-an-event, featuring the team I lead at Stratecast, at the world’s largest IT show for the communications industry. The Innovation Spotlight at Management World 2011 was built around the Rat Pack/10 to Watch report our team publishes each year identifying and analyzing the market’s hottest emerging companies. Check out some great videos from the event here.

Management World (MW) was chock-full of meetings each day plus working breakfasts and dinners, but in a few brief free moments I was able to snap a decent pictorial’s worth of pertinent pix. Continue reading

TM Forum publishes my “Let’s Make it a Good (Mobile and Web) Experience”

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Hello again. TM Forum, the world’s leading industry group/consortium on all things network management, published a little piece I did on what mobile and website operators (everyone from AT&T, Verizon and Telecom Italia Mobile to Amazon.com) are doing to see not just that their own networks and sites are “up” but what WE are experiencing as users, and how to fix it. The piece appears in the Forum’s Inside Leadership newsletter; invite you to read more if you like here. Continue reading

Is Facebook the new email?

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We’ve certainly discussed the pros, cons and security angles around Facebook here and here, and as promised we’ve been adding useful links to one of these, our Facebook Privacy page. Worth mentioning in passing but today I’m thinking more of another entry, Is Social Media Really Bankable, that cited examples of how some of the largest companies in the world—and maybe yours—are starting to leverage social media to build their businesses.

Bloggers normally look outward for suitable subject matter, but in this case my own tendencies have caused me to question whether we’re part of a larger trend. Continue reading