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Web3 is going just great

web3isgoinggreat.com

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Re: Web3 is going just great

#61

Post by paulgb »

mempko wrote: post #53
DantesKite wrote: post #13

All the Web3 criticisms remind me of my experiences with Star Trek. For context, I never watched Star Trek. I'd read stories about fans and it always struck me as the dorkiest possible show, with unabashed nerdiness making something like the Big Bang Theory look like a sophisticated work of art. But one day, I listened to a podcast about strength training and a question came up about which Star Trek leader the host l…

> But the math and incentives are there. Cui bono as they say. Crypto won't fail because of the group that is driving most of the demand. It's a small group of people with lots of money. If it was a big group of people with little money, you could make the case that cryptocurrencies will fail. It's success has little to do with the math and quality of the technology.

You could have said the same thing about the ~2017 ICO bubble, which had a bunch of smart money VC involvement. As far as I can tell, the big VCs did just fine, because they liquidated enough of their tokens on the little guy before the market crashed.

Re: Web3 is going just great

#62

Post by alexslobodnik »

DantesKite wrote: post #13

All the Web3 criticisms remind me of my experiences with Star Trek. For context, I never watched Star Trek. I'd read stories about fans and it always struck me as the dorkiest possible show, with unabashed nerdiness making something like the Big Bang Theory look like a sophisticated work of art. But one day, I listened to a podcast about strength training and a question came up about which Star Trek leader the host l…

Spot on.

Easy to destroy a poorly constructed argument.

Those who could have a well constructed argument often choose to spend their explanation energy on those who are less skeptical.

Re: Web3 is going just great

#63

Post by trunnell »

DantesKite wrote: post #13

All the Web3 criticisms remind me of my experiences with Star Trek. For context, I never watched Star Trek. I'd read stories about fans and it always struck me as the dorkiest possible show, with unabashed nerdiness making something like the Big Bang Theory look like a sophisticated work of art. But one day, I listened to a podcast about strength training and a question came up about which Star Trek leader the host l…

> But the math and incentives are there.

Can you elaborate on this?

The best critiques of blockchain tech, cryptocurrencies, NFTs, DeFi, etc. describe fatal flaws at the core of those technologies. For example, the lack of monetary policy and regulations, privacy and security shortcomings, and high transaction costs.

It'd be great to read a positive analysis of the core merits (the math and the incentives) and how those can be applied to solve problems.

Re: Web3 is going just great

#65

Post by IceWreck »

Haha this is excellent. Am gonna link this the next time someone shills their shitcoin and web3 BS.

But who am I kidding, theyre gonna call me uninformed and chase after the next upcoming scam to make quick buck.

Re: Web3 is going just great

#66

Post by librish »

danlugo92 wrote: post #51
PragmaticPulp wrote: post #17

Earlier quoted context omitted.

> Ask yourself, who is the most affected by these 2 technologies existing? Speculators? Seriously though, can you tell us which Web3 technologies, specifically, are disrupting existing technologies in a way that really benefits the end users instead of speculators? > I hear you about the electricity usage, but Bitcoin Lightning will drive down the usage so much that it will become a moot point anyways. That's not how…

> Seriously though, can you tell us which Web3 technologies, specifically, are disrupting existing technologies in a way that really benefits the end users instead of speculators? Distributed systems where you own the data and there's no single point of failure. > That's not how mining works. Layer 2 networks don't reduce the energy consumption of the Layer 1 network. They still produce 1 block every 10 minutes, and…

> Distributed systems where you own the data and there's no single point of failure.

That's too abstract, can you be more specific?

> I'm not an expert on the mining mechanics, I might be wrong but not due to the reasons you claim, transaction fees will approach zero as more people move into lightning and block reward will keep getting halved.

Transaction costs could go down but that doesn't change the incentives for the mining itself very much.

Re: Web3 is going just great

#67

Post by haswell »

throwvirtever wrote: post #26
yrral wrote: post #11

What are the goals behind these people who spend time making sites and long blogposts about the failings of blockchains/web3, etc? In real life, if I talk to people about crypto they are curious and open to learning about it and most just don't have the time to learn about it. However, when I go online and see a post about NFTs or crypto, there somehow is always tremendous backlash, generally by people not involved i…

When people think something is bad and keep encountering other people saying it is good, they respond. There's no reason why anyone should get "involved in the space" before expressing their opinion.

> There's no reason why anyone should get "involved in the space" before expressing their opinion.

I think this really depends on what you mean by involved in the space. Far too often, someone will start commenting on something based on nothing other than a 2nd hand understanding of the thing, and that commentary is often misleading or naive (or both) as a result.

I’d argue that expressing opinions prematurely is one of the fundamental problems with society today, and one that is amplified by tech.

And even thinking about this in terms of “good” and “bad” seems problematic, when it’s not inherently either, much like the majority of modern technology.

I’m not arguing against the creation of “here are some bad things about x” posts, but there is a subcategory that is not useful.

Re: Web3 is going just great

#68

Post by fab1an »

bawolff wrote: post #18

I hate this web3 bs as much as the next guy But, this seems more a list of people doing stupid shit with blockchain-y things, and not an argument against it as a whole. That doesn't distinguish blockchain that much from other technologies (e.g. consider WWW during the hype of dot-com bubble). I pretty much believe its all absolute bullshit, but picking some egregious examples, while amusing, doesn't really show that.

My mouse hovered over the downvote button given your language here, but I understand that web3 has become this insanely emotional issue, so here's a comment instead: for every moronic ponzi scheme in crypto, there's one community that will blow your mind with their creativity and spirit. They're out there. Just consider the possibility that not all of it is crap, and that parts of it will play a significant role in our future. Give it a chance and you might be very positively surprised about what you can find on it.

Re: Web3 is going just great

#69

Post by danlugo92 »

rvz wrote: post #41
danlugo92 wrote: post #12

So much FUD daily here against Bitcoin and Web3. Ask yourself, who is the most affected by these 2 technologies existing? Web3 is young still, I'll grant you that, but it will eat the world in 3 to 5 years. Bitcoin is already mature and it's the most democratic type of currency/money/property in the world, how can you argue against that? I hear you about the electricity usage, but Bitcoin Lightning will drive down th…

> Bitcoin is already mature and it's the most democratic type of currency/money/property in the world, how can you argue against that? Am I able to use Bitcoin or Ethereum to pay for my groceries yet? Or do I have to continue to wait 10+ mins for a single transaction to settle whilst overpaying for the fees to make it go faster? If that is 'web3', then you might as well use Apple / Google Pay then.

> 10+ mins, overpaying for the fees

This is what lightning will fix.

> If that is 'web3',

C'mon, don't argue in bad faith, Bitcoin is not web3 just like AJAX is not web2.0. Web3 can and should be built atop bitcoin lightning, but bitcoin can exist separately.

Re: Web3 is going just great

#70

Post by RONROC »

People will pile in here and argue in all earnestness that stirring the pot and making an earnest, snarky, and (maybe) contentious point out in the open is not an effective manner of brushing up against the “discourse”. But they’re wrong.

In a world where data brokers can (and will) shake out your whoIS info for the right price which can cost you personally, I commend any effort to re-frame the conversation and “speak truth to power” as corny as that sounds.

This type of thing is an actual example of effective altruism. You’re not saving the snow leopard, sure, but it’s important to do what you can as much as possible.

Web 3 is a marketing grift aimed at high-minded idealism with one goal: to turn your lights off in the name of the next “new thing” because god forbid you don’t get in on the first floor.

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