I think Web3 will be all about AI not crypto. Cryptography is already in the veins of modern World Wide Web through the use of PKI.
No, that's 5th generation computing...
Web3 Is Bullshit
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Re: Web3 Is Bullshit
#22"The Ethereum virtual machine has the equivalent computational power of an Atari 2600 from the 1970s except it runs on casino chips that cost $500 a pop and every few minutes we have to reload it like a slot machine to buy a few more cycles. That anyone could consider this to be the computational backbone to the new global internet is beyond laughable. We’ve gone from the world of abundance in cloud computing where t…
Is this what the struggles of the transition from scarcity to post scarcity looks like? Building systems that simulate scarcity to generate the illusion of value and to front run that value?
Perhaps! Because people are trying to create opportunity from the lack of scarcity maybe?
Re: Web3 Is Bullshit
#23The author has a huge conflict of interest whenever he writes about cryptocurrency, seeing as he's the founder of Adjoint, Inc, a company which digitizes cash and settlement processes for multinational corporates. The site in question: http://www.adjoint.io/ this was originally brought up by robot_no_419 in this thread: https://news.ycombinator.com/item?id=27121532 all props go to him.
I don’t understand the use of “conflict of interest” here, the author is expressing an opinion, plainly explaining which “side” they are on, no other context required. It’s not as if the author is trying to pass legislation or close a business deal without disclosing how they’ll benefit. Like my sibling says, that the author puts their money where their mouth is by placing bets against crypto only makes their opinion…
Wouldn't a media interview or someone debating Diehl be even more credible?
The public can make their minds up when presented with both sides of the argument rather than one side on Twitter.
Re: Web3 Is Bullshit
#24I think Web3 will be all about AI not crypto. Cryptography is already in the veins of modern World Wide Web through the use of PKI.
No, that's 5th generation computing... https://en.m.wikipedia.org/wiki/Fifth_generation_computer
I never heard of this project but it is really interesting. Something like proto AI.
Re: Web3 Is Bullshit
#25Earlier quoted context omitted.
I don’t understand the use of “conflict of interest” here, the author is expressing an opinion, plainly explaining which “side” they are on, no other context required. It’s not as if the author is trying to pass legislation or close a business deal without disclosing how they’ll benefit. Like my sibling says, that the author puts their money where their mouth is by placing bets against crypto only makes their opinion…
Wouldn't a media interview or someone debating Diehl be even more credible? The public can make their minds up when presented with both sides of the argument rather than one side on Twitter.
This is an opinion piece. Write a rebuttal and post it.
Re: Web3 Is Bullshit
#26Earlier quoted context omitted.
Wouldn't a media interview or someone debating Diehl be even more credible? The public can make their minds up when presented with both sides of the argument rather than one side on Twitter.
This is an opinion piece. Write a rebuttal and post it.
What rebuttal? I agree with the post?
I just want the common man to see crypto for what it really is with a balanced debate or interview, not just a blog post that only 'nerds' reads as Diehl states.
> It’s almost only nerds who read my blog...
After all, it would be more credible coming from him than me.
Re: Web3 Is Bullshit
#27if Web2 became a dystopic Zuckerbergia and Web3 is a disguised Cryptobrosia is there maybe a chance for a Web 2.5 that doesn't suck? Like something that isn't fake techno-solutionism on steroids? What would be its building blocks? IFPS, Activitypub, XMPP, Matrix? but more importantly what would be the governance and incentives that would prevent it from rapidly degenerating as with all other versions
> What would be its building blocks? IFPS, Activitypub, XMPP, Matrix?
Wrong way of looking at it. What are people going to do differently and then what technology gets us there.
Re: Web3 Is Bullshit
#28> On a compute basis, blockchain networks don’t scale except by becoming the very same plutocratic and centralized systems they allegedly were designed to replace. That sentence right there is when I stopped reading and realized the author doesn't understand the technology they are criticizing. The word "plutocratic" is linked to the Wikipedia definition for Proof of Stake. PoS is not meant to increase scalability, i…
…how is efficiency different from scale? Right now Eth cannot accomodate the transactional demands of the world because it is extremely inefficient and costly (gas fees) I don’t claim to be an eth or PoS expert, but is it not the case that the transition to PoS is to lower transaction fees and prepare the network for sharding? Maybe sharding for scale is a totally separate issue, but I don’t understand why they would…
my understanding is that much of the motivation for PoS is to avoid the electricity usage, and in some but not other ways of measuring it possibly has some better security properties, not really increasing the throughput or gas fees?
Re: Web3 Is Bullshit
#29[deleted]
Re: Web3 Is Bullshit
#30That's gonna age great
Honestly this community is just an echo chamber of bad takes when it comes to web3. Kind of hard to recognize a problem when your salary is dependent on propagating it.
What are the best resources for learning about the current state of web3 projects? Most of what I encounter with respect to it seems like marketing copy, without good summaries of the pros and cons that come with the different technologies and their roadmap.
There's clearly a lot going on in the space. But for someone who's at best adjacent to it, it's hard to sort the wheat from the chaffe.