I gave my private key to some random person on the internet and he drained my wallet... Why do we need JavaScript to see a simple list of random events anyways?
Web3 is going just great
241–250 of 357 posts
Re: Web3 is going just great
#242Earlier quoted context omitted.
> 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.
If two NFTs point at the same underlying asset, how do I go about deciding which one is authoritative without relying on exactly the same sorts of trust and authority relationships that I'd use in the absence of a blockchain?
Re: Web3 is going just great
#243Earlier quoted context omitted.
> 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…
> people looking to acquire life-changing wealth for themselves by hyping things that they have a vested financial interest in What's wrong with hyping things you've invested in, or seeking life-changing wealth for yourself?
In a vacuum, nothing. But it's generally good to disclose to others when the investment advice you're offering will also materially benefit you.
It's funny that cryptocurrency proponents will often lambast the traditional banking system for being corrupt and self-serving but then ask a question like this. Is cryptocurrency supposed to be a more fair way to invest/bank/move money or not?
Re: Web3 is going just great
#244I'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…
What if we think it might succeed and the world would be worse for it? That's where I'm at. I don't want that vision of commercialization and commodification of everything . I think there is a possibility that all of that crypto stuff might succeed and I'm terrified of it throwing us into an even worse capitalist dystopia than the one we already live in.
Right? Basically, imagine the post-scarcity Star Trek utopia except that everyone has to input a digital wallet code to use the replicator and everything it makes has a different price.
Re: Web3 is going just great
#245Earlier quoted context omitted.
> there's no underlying value in cryptocurrency Of course, there is a value: it's a decentralized write-only database that can be used for things like proof of ownership without the requirement of a central authority. A famous use-case is the illicit online drug trade, which cannot currently be achieved (to my knowledge) with fiat currencies. It might never replace government-backed currencies (or it just might, who…
No, it can't be used for "proof of ownership" at all. Crypto only barely works because it lives inside blockchain completely. Anything external to the blockchain (which is practically everything) can't be verified using blockchain. Only using some centralized and opaque/corrupt additions to the blockchain some rights can be maybe transferred (but not enforced even then), but at that point blockchain is useless can be…
> Only using some centralized and opaque/corrupt additions to the blockchain some rights can be maybe transferred
Hmmm... centralized and opaque/corrupt. So like a traditional bank?
Re: Web3 is going just great
#246Earlier quoted context omitted.
What if we think it might succeed and the world would be worse for it? That's where I'm at. I don't want that vision of commercialization and commodification of everything . I think there is a possibility that all of that crypto stuff might succeed and I'm terrified of it throwing us into an even worse capitalist dystopia than the one we already live in.
Right? Basically, imagine the post-scarcity Star Trek utopia except that everyone has to input a digital wallet code to use the replicator and everything it makes has a different price.
Yeah I hate the idea of artificially reintroducing scarcity now that we're finally close to overcoming it.
Re: Web3 is going just great
#247Earlier quoted context omitted.
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.
> Decentralized proof of ownership is the core merit But it's neither decentralized nor a proof AT ALL. NFT literally can't facilitate anything by itself, without adding some centralized DB to it and some centralized humans governing all interactions between clients.
> NFT literally can't facilitate anything by itself, without adding some centralized DB to it
What exactly do you want an NFT to facilitate? And are you raving mad at the people who make the NFTs, the people who buy them or both?
Re: Web3 is going just great
#248Earlier quoted context omitted.
> 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.
It doesn't matter, it revolves around a bizarre ideology that doesn't and can't work in theory or in practice. I suggest everybody look up the story about the cruise ship Satoshi to get a glimpse of how deluded these people are.
Re: Web3 is going just great
#249Earlier quoted context omitted.
So your definition of “web 2.0” includes every programming language and library used to build web 1 or 2 apps, along with all kinds of other things? That’s quite the stretch — and it’s telling that you’re only using that as a negative to attack things which you don’t have a personal financial stake in. I don’t imagine you’d like it if every vulnerability in some library used by a blockchain-related project was billed…
Sorry, but I think you're arguing from such bad faith, not sure if this conversation is redeemable. Imo, Log4j is as part of web2 as technologies like MongoDb or AJAX/XMLHttpRequest. Arguing the opposite is just completely nuts. I mean, Play Framework (a staple of Web 2.0 Java & Scala), uses Log4j implicitly[1]. Have you written any Web2 apps in Java? It doesn't seem like you have. > The Play logger is built on Log4j…
> I think you're arguing from such bad faith, not sure if this conversation is redeemable.
Please tell me this is a joke. You compared two unlike things, and now it’s “bad faith” when you can’t support the claim?
> Log4j is as part of web2 as technologies like MongoDb or AJAX/XMLHttpRequest
This is half right. As with log4j you can tell what things are “web 2.0” by asking whether you had to use them or not. People built many, many Web 2.0 sites without Mongo or Java but they had to use XHR because that’s what web browsers supported — until Fetch arrived later, there wasn’t a good alternative. Someone using your site didn’t know what you used server side but they definitely could tell what your client-side code (which is what made it Web 2.0 instead of 1) was doing.
Re: Web3 is going just great
#250Earlier quoted context omitted.
> people looking to acquire life-changing wealth for themselves by hyping things that they have a vested financial interest in What's wrong with hyping things you've invested in, or seeking life-changing wealth for yourself?
In a vacuum, nothing. But it's generally good to disclose to others when the investment advice you're offering will also materially benefit you. It's funny that cryptocurrency proponents will often lambast the traditional banking system for being corrupt and self-serving but then ask a question like this. Is cryptocurrency supposed to be a more fair way to invest/bank/move money or not?
> In a vacuum, nothing. But it's generally good to disclose to others when the investment advice you're offering will also materially benefit you.
This should be obvious. When was the last time you saw a coca-cola add? Did it say "please buy this because we are vested in it" or did it say "coca-cola tastes great".
> Is cryptocurrency supposed to be a more fair way to invest/bank/move money or not?
I honestly don't think so. It's great for some use cases though, like cheap, instant cross border payments.