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Is Web3 Bullshit?

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Re: Is Web3 Bullshit?

#71

Post by austincheney »

mattlondon wrote: post #16
cblconfederate wrote: post #10

Earlier quoted context omitted.

social networking 'web2' had little lot to do with web also

I'd disagree with that. Web 2 was the idea of site content being dynamic and user generated, and not curated by journalists/editors/whoever working a 9-5 or whatever. For many things like reddit, digg, youtube etc there was only a web interface to these things. They were of and for the web

Web2, in the social media sense, was about advertising and merchandising. Let’s not reinvent history with a fiction that never was.

Re: Is Web3 Bullshit?

#72

Post by jstx1 »

hbbio wrote: post #58

I have the impression that most comments here are either biased against cryptocurrencies or trying to push for them blindly. That's a bit sad considering we should at least be discussing the technology here. web3 is a marketing brand that defines a future version of web apps where the frontend is a compiled SPA possibly hosted on decentralised platforms (IPFS) and where the backend is a decentralised blockchain (and…

Who's maintaining the service instead of AWS in the web3 scenario?

Re: Is Web3 Bullshit?

#73

Post by 3np »

hbbio wrote: post #58

I have the impression that most comments here are either biased against cryptocurrencies or trying to push for them blindly. That's a bit sad considering we should at least be discussing the technology here. web3 is a marketing brand that defines a future version of web apps where the frontend is a compiled SPA possibly hosted on decentralised platforms (IPFS) and where the backend is a decentralised blockchain (and…

Yeah, even if the web3 moniker has been spearheaded by Ethereum and Parity/Polkadot related projects (it’s been a thing since ~2015 and until about last year its use has mostly been following Gavin Wood and crew), in my mind for a typical web3 app that doesn’t involve payments, the only blockchain/crypto-related functionality would be the built-in key management and using it for authn/authz. Possibly signing messages that are relayed p2p or c2s, no need to post transactions on the blockchain or hold any cryptocurrency at all.

For web2 (which was also abused to death as a buzzword), the defining technical component was asynchronous requests through js and dhtml. Decoupling the rendering of views from data.

For web3 it’s decoupled frontends and backends (the frontends should support being self-hosted/run locally), peer-to-peer and federated architectures, having not SPoF.

Re: Is Web3 Bullshit?

#74

Post by 627467 »

I don't know whether it is or (more importantly) will be bullshit but one aspect of web3 I think has been a victory to webstandards: an actual decentralized SSO standard.

I know it must be easy to use Google's or Facebook SSO. But why rely on a Third party for this? And why - as user - must i open new accounts on all these webservice?

Re: Is Web3 Bullshit?

#75

Post by GDC7 »

It’s like that headline about the internet being a glorified fax machine in 1999. [0]

It was wrong to put your name on that piece for posterity to see (and mock you) , but if you listened to that article and shorted the Nasdaq you’d have made 5000% type returns .

And if Krugman himself listened to his own brain , he’d have had enough money not to care about that piece or make people forget about it

The web3 might not be bullshit , but if you want to make money the only trade out there is to bet that it is .

Bulls who say that web3 is in its early days surely mean the technical early days , because financially the web3 is already priced for world domination .

Bulls forget that when you have to learn a programming language to profit off a trend you already missed on life changing money and hockey stick price increase (bitcoin 2010-2020 and Ethereum 2015-2020)

[0] https://twitter.com/kevincadogan/status/1195521960437932033?...

Re: Is Web3 Bullshit?

#76

Post by Yizahi »

Web3 is a web of lies. It promises proof or original for digital content which is a) nonsense and b) impossible. It promises easy transfer of digital rights while not doing that at all and it is actually impossible with current crypto tech. It promises decentralized money while making extremely centralized system. It promises severig ties with money printing and then blatantly money prints with zero oversight. It promises investments, but that that is completely manipulated by major player as they wish. It promises security but ”lol, not your keys not your money”. It promises getting rich, but conveniently forgets that crypto is negative sum casino. It promises going green, but is fully conscious that it will never happen because fundamentally there need to be punishment for bad actors and energy is it in crypto.

Basically every tech where inventor looks you in the face and says that ”black is white” can be called web3.

Re: Is Web3 Bullshit?

#77

Post by flooow »

mattlondon wrote: post #7

It saddens me that they chose "web3" for the latest crypto pyramid scheme. Call it what you want, but please don't sully the web with your plat du jour crypto antics. Also for what it is worth, the web has been decentralised from the very start, I don't see what the fuss is about apart from just everyone getting rich selling the next hot coin/token/whatever.

If the crypto community wants to demonstrate that it isn't a giant Ponzi scheme, why not come up with a non-deflationary token, which will not massively reward 'early adopters' at the expense of everyone else, in perpetuity? (A non-deflationary token would be one where the supply grows by some reasonable percentage every year, effectively acting as a flat tax on one's holdings).

In reality, non-deflationary cryptocurrencies have been tried on various occasions. Surprise! None of them have taken off because "number doesn't go up".

Re: Is Web3 Bullshit?

#78

Post by Yizahi »

brandonmenc wrote: post #64

Crypto fans are always hurling accusations of FOMO on those of us who just "don't get it". But web3 strikes me as those very same people experiencing FOMO because they missed out printing a bunch of money for themselves in the early days of the web by actually providing novel value - which in hindsight now all looks like really obvious low-hanging fruit, hence the FOMO - so they're hoping to "get in on the ground flo…

And conveniently they reserve for themselves double digit percentage amounts of future assets by the way of premine. The levels of hypocrisy in crypto are mind boggling.

Re: Is Web3 Bullshit?

#80

Post by pentae »

hbbio wrote: post #58

I have the impression that most comments here are either biased against cryptocurrencies or trying to push for them blindly. That's a bit sad considering we should at least be discussing the technology here. web3 is a marketing brand that defines a future version of web apps where the frontend is a compiled SPA possibly hosted on decentralised platforms (IPFS) and where the backend is a decentralised blockchain (and…

The problem with web3.0 is decentralizing all the things is super hard and really user unfriendly. At this point i'd be happy with something more like web 2.5 where the important bits are decentralized from a central authority (identity management for eg) and able to integrate nicely with centralized platforms.
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