Using Ask HN to post a content-free rant just seems wrong to me.
Ask HN: What if a new generation of developers is right about Web3?
21–30 of 55 posts
Re: Ask HN: What if a new generation of developers is right about Web3?
#22Earlier quoted context omitted.
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.
Sorry what do you mean by 1 and 2 being “called as much”? Being called decentralized?
Re: Ask HN: What if a new generation of developers is right about Web3?
#23Crypto 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…
Things that make me pause. One of the loudest web3 critics is Stephen Deihl, who works on a private blockchain in London, presumably for traditional financiers. He doesn't advertise this. Why all the hate for work done by the new generation? Does he see them as the barbarians at the gate?
https://twitter.com/dystopiabreaker/status/14701269278180679...
Re: Ask HN: What if a new generation of developers is right about Web3?
#24Using Ask HN to post a content-free rant just seems wrong to me.
I trust dang will delete it if my post violates the HN rules. I've saved a copy of this thread just in case.
Re: Ask HN: What if a new generation of developers is right about Web3?
#25Nope it’s just trading one set of gatekeepers for another. The new gatekeepers are also much less honest about their being gatekeepers.
Exactly. I’ll take my regulated bank over Jack Dorsey.
Re: Ask HN: What if a new generation of developers is right about Web3?
#26Note: not super versed in this space. My main info is from a Johnny Harris video where he debates himself on the subject of crypto. And I've looked into the tech a bit.
I don't think I follow how crypto would help in your situation. At least your father could get a loan from the bank--and he got that loan because the bank looked at his history, trusted him, and took a bet he would succeed. And he can trust the bank, because it has authority and governmental checks and balances to hold it accountable. There is no trust in crypto as far as I understand it. In fact being trust-less is one of the designing principles of the block chain. Can loans exist in crypto? Wouldn't this be significantly more difficult for someone like your father to break into? And significantly more risk-y? Whereas he could get a loan from a bank with relatively little financial investment and risk, how much time & money would he need to invest in a cryptocurrency before he has enough to do what he wants with the finances? What's the risk?
Sorry if I'm missing something here, my econ-fu is weak.
Re: Ask HN: What if a new generation of developers is right about Web3?
#27Nope it’s just trading one set of gatekeepers for another. The new gatekeepers are also much less honest about their being gatekeepers.
Exactly. I’ll take my regulated bank over Jack Dorsey.
you seem confused, jack left twitter to focus on squareblock's shift toward bitcoin, not web3 scams
Re: Ask HN: What if a new generation of developers is right about Web3?
#28web3 is a recycled 5 year old meme from the ico craze. it worked back then to separate the ignorant from bitcoin. try not to let web3 memes distract you from understanding how the emergence of peer to peer electronic cash and a new base layer money will actually affect you moving forward
Re: Ask HN: What if a new generation of developers is right about Web3?
#29Earlier 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.
AWS does not have any trouble moving money around or writing programs to move money around. Finance has been digitized for ages.
You might say "those are just digital abstractions — this is native." But so what? What does it matter if my money transfer routine talks to a bank or broadcasts a new block? It does the same thing in the end, except that the blockchain version is slower and more expensive.
Blockchain offers no concrete advantages over traditional finance except for decreased regulation. That's why it's so hard to argue in favour of blockchain as a replacement for traditional financial systems. You end up constructing weak arguments, because you can't play to blockchain's strengths.
Let me present the strong argument in favour of blockchain: "Blockchain helps you make lots of anonymous money through pump & dumps, ransomware, and other assorted scams." This is an unethical argument, but a concretely fact-based one. The track record speaks for itself.
Look how much more robust the strong argument is than any argument about decentralization for its own sake, or about the "native"ness of bitcoin transfers. Occam's razor suggests that the strong argument is the driving force behind blockchain adoption, not the weak ones. Nobody cares about decentralization. They just wanna make a buck.
Re: Ask HN: What if a new generation of developers is right about Web3?
#30Doesn't the current locus of control have enough computing resources to takeover >50% anyway, assuming it hasn't already?