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Is Web3 Bullshit?

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Re: Is Web3 Bullshit?

#171

Post by oytis »

I think many comments are either missing the point or just use it the article as an excuse to talk about something else.

The key point is that today everything is seen as a kind of speculation, and in order to have a decent life (provide for a family, and have a secure place to live, including in the old age) one has to be good at it.

It is one of the central problems of our society, and whatever is called web3.0 seems to only make it worse. As someone who is extremely unenthusiastic about being bearish, bullish and anything around stock markets I can understand author's sentiment very well

Re: Is Web3 Bullshit?

#172

Post by lottin »

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…

Where does this preoccupation with payments come from all of a sudden? Personally I don't want "payments" implemented in my web browser, and I seriously doubt that that would be in anyone's interest.

Re: Is Web3 Bullshit?

#173

Post by rtpg »

pas wrote: post #157
flooow wrote: post #77

Earlier quoted context omitted.

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 cryptocur…

It's digital gold. Is gold a Ponzi scheme? No. It's the same as putting money into NASDAQ100 or SP500 and waiting for it to go up only. Is that a Ponzi scheme? No. It's a volatile synthetic hedge against assets with real fundamentals.

Are speculative gold markets good though?

Re: Is Web3 Bullshit?

#174

Post by ethanbond »

pas wrote: post #166
ethanbond wrote: post #155

Earlier quoted context omitted.

Then stop acting like it’s a currency and/or infrastructure. If it just spirals indefinitely in value then it can’t be used as either. Pretty straightforward.

It's value is exactly determined by supply-and-demand. It's just as much a "foreign currency" as let's say Vatican Angelbucks. (We know that only a fixed amount of angelbucks will ever exist. So it's deflatory, and it has no earthly uses. But you can send it to your pals via PrayWire, so you can buy coffee with, and so on.) And if you look at the price graphs it's not always going up. It's a synthetic currency with n…

Sorry, let me clarify. Stop acting like it’s a viable currency/infrastructure. I get that you can arbitrarily label anything as these.

Re: Is Web3 Bullshit?

#175

Post by Incerto »

I remember people saying WEB 2.0 / AJAX was bullshit too. It's easy to lampoon the buzzwords / early failures of a new paradigm. People will be tinkering to learn new ways to working. Personally I believe Web3 has a huge future.

Re: Is Web3 Bullshit?

#176

Post by woodruffw »

almost wrote: post #169

The absolute best argument I’ve seen so far against “web3” is this very pro-web3 and very clear article. https://www.preethikasireddy.com/post/the-architecture-of-a-... Read that, and make sure you understand the basics of what Ethereum, IPFS and maybe a few more technologies from the article etc actually are, then think about if that sounds like sensible thing to do. If you can still take it seriously afterwards the…

It astonishes (and saddens) me that someone could design the architecture diagram at the bottom of that article and genuinely believe that what they’ve described is an improvement to the status quo.

The number of middlemen alone is farcical.

Re: Is Web3 Bullshit?

#177

Post by adenozine »

I think a lot of web3 products thus far are bullshit, but I can't deny the sort of eventual absolution of re-federating the internet. Things can't continue to FAANG forever.

The ever-marching disappearance of offline-only humans also points towards a higher standard of understanding for the average internet user. Someday everybody might run their cloud or at least be involved in a direct way somehow

Re: Is Web3 Bullshit?

#178

Post by zepto »

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.

The web is pretty sullied already, no?

Re: Is Web3 Bullshit?

#179

Post by simonebrunozzi »

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…

For the ones that don't know:

SPA = Single Page Application

Re: Is Web3 Bullshit?

#180

Post by bokluk »

flooow wrote: post #77
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 cryptocur…

>If the crypto community wants to demonstrate that it isn't a giant Ponzi scheme, why not come up with

a product that does anything at all?

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