241–250 of 383 posts
If the tech industry bubble pops in the near future, it will be because of crypto.
(EDIT: As a sidenote, it is interesting that when I filed my taxes for 2020 revenue Canada had added a question about cryptocurrency assets.)
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…
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.
Earlier quoted context omitted.
Yes web was decentralised till it became centralised with big tech gatekeepers. AMZN makes more money from sellers fee than AWS now. Thus killing small businesses - the lifeblood of most economies. Link below. It is time to get rid of gatekeepers, toll collector and have control of our data & communities. Web 3 is a way do that and will take about a decade as the infra builds out. So it certainly is BS for big tech l…
Amazon has been fantastic for my small business. The fees aren't too crippling (around 15% of revenue) and FBA is an absolute Godsend for anyone based outside of the US trying to crack into that market (similar for Europe). I could not thank Mr. Bezos more for the opportunities Amazon has given my family. The income from FBA was a major factor in my decision to quit my job back in 2020, and because of that my daughte…
Earlier quoted context omitted.
That sounds great if it lowered costs, but it takes gas to run services on blockchains - it’s still “someone else’s computer” that has to be incentivized to do work, whether that’s executing a smart contract or paying to pin files on IPFS. IMO there’s room for small benevolent communities where people choose to share in the cost of infrastructure (e.g. hosting seedboxes in torrenting communities where you are expecte…
I kind of mentioned it already, but apart from payments or other transfer of digital ownership, there shouldn't be much need for on-chain transactions. In some years when, hopefully, L2 technologies have matured and grown to live up to their promise, those won't have to either (there is always the initial on-boarding of course, but credit cards and mobile payments have those too) As for "who's going to run the nodes"…
Let's agree on a definition first: web 3.0 is using blockchain tech to replace current server-side computing (static file hosting, functions/processing, databases, etc) and online centralized services (payments, identity, etc). So, is it bs? No, it is not. If you are a developer, you can go now and build a dapp (a web3 application or distributed app). So far so good, but: A simple dapp will cost cents to host/run (ev…
Because every use case I heard so far can already be solved more efficiently without blockchains.
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…
This is pretty much just the same thing we do today, but wait...
> possibly hosted on decentralised platforms (IPFS)
We can use a filesystem that is extremely slow, and also loses all our files if we stop paying AWS to mirror them in S3!
> the backend is a decentralised blockchain
And we can use a really slow database where each write costs $100s in gas fees!
... see, much better!
The phrase "social media" has become passé and even toxic.
The language around BTC & Crypto have political & other baggage.
Web3 is an attempt to re-package the past 10-15 years of web trends in a hip new label that leaves behind the baggage and allows for the appearance of "new stuff happening". But nothing much new is happening.
One aspect that I strongly dislike about "web3" is that it poisons the discourse with its incentives. I don't believe that every person on Twitter with $BTC in their profile understands or can knowledgeably argue the benefits of Web3, but their crypto holdings make them a hard-lined crypto zealot in the hopes of multiplying few hundred dollars they've put in. It's fairly widely known how laughable it is to look for u…
The thing that cryptocurrencies have really successfully decentralized and democratized is becoming a shareholder — of cryptocurrency schemes. Anyone can buy a share of a coin, and make a profit as long as the amount of fiat currency put into the chain keeps growing. Every new user convinced it's going "to the moon" pays dividends to existing holders. This automatically creates a financial incentive to become an astr…
Whilst it's possible to avoid those, I'd guess it's beyond many participants to do technically, so the exchanges become defacto centralization, and instead of regulated stock exchanges that operate in the same judicial location, in many cases these exchanges explicitly try to avoid regulation or accountability.
For awhile I insisted that all cryptocurrencies were bullshit and also Ponzi schemes, but given how many people take pleasure in buying them, selling them, and talking about them, I've come round to viewing them as a kind of in-game currency, with the game being a bit like those role-playing games that you play in your neighborhood while interacting with the real world. Anyone who grew up playing some variation of As…