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Ask HN: What if a new generation of developers is right about Web3?

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Re: Ask HN: What if a new generation of developers is right about Web3?

#11

Post by thebean11 »

tpetry wrote: post #8

What if this new generation is just repeating the mistakes of former generations? They talk about decentralization which has been done so often before and only worked for niche use-cases. What if crypto is just a big money pump and dump scheme? It‘s sold to the poor to solve their financial situation which mostly don‘t have bank accounts. But the ones loosing the most in crypto crashes is not the new-generation web3…

> They talk about decentralization which has been done so often before

What’s an example from earlier generations?

Re: Ask HN: What if a new generation of developers is right about Web3?

#12

Post by kerneloftruth »

A general rule I've found to be very true is: if you can't explain a concept to somebody else fully, clearly, and concisely -- then you don't _really_ understand the concept yourself (i.e. if you can't explain it to a 5 year old, then you don't really understand it).

"Imagine ... that they're not very good at articulating what the intuitively feel to be right about web3. When they talk about decentralization it much less about technology than routing around the central locus of control that serve as gatekeepers to keep people down."

And this describes exactly people who haven't really thought through the web3 concept -- especially indicated by the emotional perspectives of "feels rights" that the status quo is filled with "gatekeepers to keep people down". This makes it seem like a trend amongst the cool kids, which to me is what it actually is at this point.

Re: Ask HN: What if a new generation of developers is right about Web3?

#13

Post by tpetry »

thebean11 wrote: post #11
tpetry wrote: post #8

What if this new generation is just repeating the mistakes of former generations? They talk about decentralization which has been done so often before and only worked for niche use-cases. What if crypto is just a big money pump and dump scheme? It‘s sold to the poor to solve their financial situation which mostly don‘t have bank accounts. But the ones loosing the most in crypto crashes is not the new-generation web3…

> They talk about decentralization which has been done so often before What’s an example from earlier generations?

Diaspora and Mastodon. These are the prime example what the web 3 generation wants: no central company, everyone runs it‘s own server, user is in control of all it‘s data

And they are a total empty space. Because it‘s complex to use ans is missing the network effect which is really really hard to get without a central company doing marketing in some form

Re: Ask HN: What if a new generation of developers is right about Web3?

#14

Post by thebean11 »

tpetry wrote: post #13
thebean11 wrote: post #11

Earlier quoted context omitted.

> They talk about decentralization which has been done so often before What’s an example from earlier generations?

Diaspora and Mastodon. These are the prime example what the web 3 generation wants: no central company, everyone runs it‘s own server, user is in control of all it‘s data And they are a total empty space. Because it‘s complex to use ans is missing the network effect which is really really hard to get without a central company doing marketing in some form

Got it I see what you mean. In my mind though, the real innovation in web3 is native ability to move money around, and turing complete (ish) programmability. Comparisons to social networks seems like apples and oranges.

It’s not a product that needs to be marketed to end users. Think AWS not Amazon.com. The people building products on it will do the marketing.

Re: Ask HN: What if a new generation of developers is right about Web3?

#15

Post by VictorPath »

> routing around the central locus of control that serve as gatekeepers to keep people down

Huh? Routing around? You are advocating for the "central locus of control that serve as gatekeepers to keep people down". You don't eliminate that by "routing around" it. You eliminate it by organization, education and then agitation around it. Advocating that people unhappy with this scurry about trying to "route around" their central locus of control is exactly what they want.

Re: Ask HN: What if a new generation of developers is right about Web3?

#16

Post by ipnon »

Crypto is growing twice as fast as the Internet grew in the late 90's.[0] Let's assume history rhymes. There will be a massive crash in a few years time. Everyone will say "I told you so." Then all the crypto kids will be laughing to the DEX as the world catches up to them in the next two decades.

What if blockchains are the best way to conduct personal finance? Digital and physical ownership? What if blockchains are the best way to conduct Big Finance? That's quite a large market, maybe even the largest market there is to conduct. Wouldn't crypto naturally be adopted then? The comparative advantage would make it a "no brainer." It seems to me stranger that we would live in a world where the business of money was perfected in the late 20th century. Do you really think bank transfers are going to take 2 days to clear in the year 2100?

[0] https://jjo.media/articles/cryptocurrency-vs-internet-adopti...

Re: Ask HN: What if a new generation of developers is right about Web3?

#17

Post by labrador »

kerneloftruth wrote: post #12

A general rule I've found to be very true is: if you can't explain a concept to somebody else fully, clearly, and concisely -- then you don't _really_ understand the concept yourself (i.e. if you can't explain it to a 5 year old, then you don't really understand it). "Imagine ... that they're not very good at articulating what the intuitively feel to be right about web3. When they talk about decentralization it much…

I assosciate your rule with Richard Feynman [1] but I'm trying to strip away the hustle and hype to get to something true at the core that may be worth looking at. There was a lot of b.s. in the late 90's but turns out there were acorns of good ideas there waiting to grow into mighty oaks. I'd hate to be an old codger yelling at kids to get off my lawn. It's not a good way to live.

[1] https://morksensei.com/learning-deeply-by-explaining-the-fey...

Re: Ask HN: What if a new generation of developers is right about Web3?

#19

Post by jjulius »

thebean11 wrote: post #14
tpetry wrote: post #13

Earlier quoted context omitted.

Diaspora and Mastodon. These are the prime example what the web 3 generation wants: no central company, everyone runs it‘s own server, user is in control of all it‘s data And they are a total empty space. Because it‘s complex to use ans is missing the network effect which is really really hard to get without a central company doing marketing in some form

Got it I see what you mean. In my mind though, the real innovation in web3 is native ability to move money around, and turing complete (ish) programmability. Comparisons to social networks seems like apples and oranges. It’s not a product that needs to be marketed to end users. Think AWS not Amazon.com. The people building products on it will do the marketing.

But web 1.0 and 2.0 are largely called as much based on what end users did with it and how they interacted with one another. You can't just ignore that vital component in regards to 3.0.

Re: Ask HN: What if a new generation of developers is right about Web3?

#20

Post by yummypaint »

My experience with traditional stock trading has been a $5 flat fee per trade, with no other expenses. In contrast just sending someone some bitcoin, the equivalent of handing a person cash, can easily cost over $10. Not to mention the rampant outright criminality and fraud taking place on crypto exchanges. If an actor who isn't regulated as a bank tries to sell you banking services, be extremely wary.
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