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Web3 is going just great

web3isgoinggreat.com

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Re: Web3 is going just great

#91

Post by systemvoltage »

fab1an wrote: post #48

I'm flabberghasted at the amount of hate this space is getting from parts of the dev community and in particular HN. Web3 has its fair share of issues, but there's community and energy in the space that I haven't seen online since the early days of the world wide web. Consider this: if you are absolutely, 100% convinced that all of this is bogus, is going to go nowhere (despite the high number of talented individuals…

It’s basically politicization of blockchain. For many HN users, it represents libertarianism and they oppose it based on political merits. That’s what I’m observing from the sidelines and also not counting all the crypto MLM schemes - just speaking purely about blockchain.

Re: Web3 is going just great

#92

Post by papito »

PragmaticPulp wrote: post #73
fab1an wrote: post #48

I'm flabberghasted at the amount of hate this space is getting from parts of the dev community and in particular HN. Web3 has its fair share of issues, but there's community and energy in the space that I haven't seen online since the early days of the world wide web. Consider this: if you are absolutely, 100% convinced that all of this is bogus, is going to go nowhere (despite the high number of talented individuals…

> I'm flabberghasted at the amount of hate this space is getting from parts of the dev community and in particular HN. Web3 has its fair share of issues, but there's community and energy in the space that I haven't seen online since the early days of the world wide web. If you're familiar with the space, you have to at least admit that it's filled to the brim with grifters and people looking to acquire life-changing…

In a way, this is a reflection of real life. Just as in politics and public space, we see the race to the bottom, to be the most horrible (and visible) human being possible, as part of performative assholery and grift.

Re: Web3 is going just great

#93

Post by jimjimjim »

danlugo92 wrote: post #69
rvz wrote: post #41

Earlier quoted context omitted.

> 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.

> This is what lightning will fix.

when?

Re: Web3 is going just great

#94

Post by deltarholamda »

trunnell wrote: post #63
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 th…

Decentralized proof of ownership is the core merit, as I see it. That has some value, and NFTs are kind of the perfect vehicle to use the technology.

But does it have any practical use? That's the question. NFTs are hot right now as an investment vehicle, or as a way for artists to sell unique creations (leading to investment vehicles, I suppose). I'm not sold on the utility, long term.

Re: Web3 is going just great

#95

Post by kmlx »

dumbfoundded wrote: post #72

As someone building in web3, I'll give an example. When I sold my first business, escrow.com wanted >$20K for the domain transfer from godaddy. If you sell a domain on ethereum (ENS), the escrow requires only a smart contract and fees scale with the network so like $50 right now. I'm working on connecting the two. Intermediaries are a huge reason the web is the way it is. If we can eliminate them, the internet looks…

> If you sell a domain on ethereum

what’s the incentive to sell a domain on ethereum?

> TLS will altered to integrate with blockchain protocols.

you mean the Transport Layer Security, the cryptographic key exchange protocol? what’s the advantage to integrating with a blockchain compared to the way the current protocol works?

> It will take at least a decade

what’s stopping the community from doing it faster? and wouldn’t a decade mean that meta’s metaverse will be long established before this community takes off?

Re: Web3 is going just great

#96

Post by newsreader987 »

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…

To add a data point to maybe explain the difference in sentiment between your in-person interactions and online interactions: Whenever I have conversations with colleagues who are bullish on crypto, I typically just smile and nod. Typically, those who are pro-crypto are emotionally and financially invested in it. I don't find it useful to have a candid debate about it in an in-person setting where one party is invested in their position like that. To draw a comparison, if someone was telling me about how they were passionate about their religion. I would rather have a pleasant in-person conversation where they get to share something that they are passionate about than to have a debate that probably won't go to place where either party is elevated from the conversation. Online discussions tend to be more open and useful place to debate the merits/flaws of the ideals and implementations behind web3/crypto.

Re: Web3 is going just great

#97

Post by stevebmark »

I find it both sad and funny watching folks discard efficient, regulated, centralized financial systems, and turn to a decentralized one and deal with the constant scams that such a system would obviously produce. Irreversible transactions, 90% wash trading, the hilariously bad idea of "smart contracts," and surprisingly inefficient core technology designed to become more wasteful as it scales.

Who knows what the future holds, though. There's clearly huge hype in this space. Will anything come of it once the pyramid scheme and ponzi scheme foundational core of web3 is realized and replaced? Or will that day never come? I don't think it will and this is just another gold rush.

Some people are surprisingly open about it, running scams and hyping up other people to try to strengthen their own pump-and-dump scams. We see things like this with people Tweeing/Telegraming/Reddting/whatever about AMC stock too. At least in regulated markets this is easier to catch and change, and it's the minority of trades, where it's the foundation of cryptocurrency.

Thinking more about it, I think I feel bad for the people caught up thinking this will be useful or game changing technology. I wonder how much they realize the core technology has limited use, and all of the hype is around trading unregulated, untaxed asset bubbles.

Re: Web3 is going just great

#99

Post by papito »

systemvoltage wrote: post #91
fab1an wrote: post #48

I'm flabberghasted at the amount of hate this space is getting from parts of the dev community and in particular HN. Web3 has its fair share of issues, but there's community and energy in the space that I haven't seen online since the early days of the world wide web. Consider this: if you are absolutely, 100% convinced that all of this is bogus, is going to go nowhere (despite the high number of talented individuals…

It’s basically politicization of blockchain. For many HN users, it represents libertarianism and they oppose it based on political merits. That’s what I’m observing from the sidelines and also not counting all the crypto MLM schemes - just speaking purely about blockchain.

And instead of fixing politics, we are just going to have our own un-governed thing over here. Run away from out problems, lets open another bottle. It will be great then.

Re: Web3 is going just great

#100

Post by erulabs »

dumbfoundded wrote: post #72

As someone building in web3, I'll give an example. When I sold my first business, escrow.com wanted >$20K for the domain transfer from godaddy. If you sell a domain on ethereum (ENS), the escrow requires only a smart contract and fees scale with the network so like $50 right now. I'm working on connecting the two. Intermediaries are a huge reason the web is the way it is. If we can eliminate them, the internet looks…

Ah see, but you work in the space and probably hold any amount of cryptocurrency at all, so you're morally compromised and fundamentally a scammer.

Anyways, sarcasm aside, that sounds excellent - have a link to the project?

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