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Web3 is going just great

web3isgoinggreat.com

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Re: Web3 is going just great

#311

Post by xchaotic »

baby wrote: post #122
tux3 wrote: post #36

Earlier quoted context omitted.

So, that's a good argument for why you shouldn't dismiss a show or a thing in general based only on negative secondhand impressions. The lesson to takeaway is that you should judge a thing by its own quality, not by your negative impression of the fanbase. But from that, there is no way you should conclude that cynicism is wrong in general. You should not overreact to too much cynicism by discarding criticism entirel…

I don't think that's GP's conclusion. GP's conclusion is that crypto is rooted in real innovation and the noise surrounding it gives the false impression that the tech is just a scam.

and what is that 'real innovation' exactly? Writing checksums of everything in multiple copies, very slowly? Databases had these features for decades.

Re: Web3 is going just great

#312

Post by xchaotic »

Yizahi wrote: post #254
orange8 wrote: post #247

Earlier quoted context omitted.

> 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?

Well at minimum at least something, at maximum - fully what cryptobros already promise today (so that their messages won't be lies) - proof of ownership, transfer of ownership, enforcement of ownership, decentralization, universal standards and so on. Nothing special, only the things crypto fans already say today to the gullible buyers.

Exactly. If you want to buy any NFT, you have to go to a centralised marketplace like opensea.io. On top of that you probably have to exchange fiat to ETH in a centralised exchange. If any of those two stop existing your NFTs become worthless, at least when denominated to fiat. And if you can't convert to fiat or buy real things, it's all imaginary.

Re: Web3 is going just great

#313

Post by xchaotic »

delaaxe wrote: post #125
trunnell wrote: post #63

Earlier 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…

Zero knowledge proofs will revolutionize civic life

solving people problems with tech.

Re: Web3 is going just great

#314

Post by detaro »

xchaotic wrote: post #312
Yizahi wrote: post #254

Earlier quoted context omitted.

Well at minimum at least something, at maximum - fully what cryptobros already promise today (so that their messages won't be lies) - proof of ownership, transfer of ownership, enforcement of ownership, decentralization, universal standards and so on. Nothing special, only the things crypto fans already say today to the gullible buyers.

Exactly. If you want to buy any NFT, you have to go to a centralised marketplace like opensea.io. On top of that you probably have to exchange fiat to ETH in a centralised exchange. If any of those two stop existing your NFTs become worthless, at least when denominated to fiat. And if you can't convert to fiat or buy real things, it's all imaginary.

> If you want to buy any NFT, you have to go to a centralised marketplace like opensea.io.

With hicetnunc.xyz, there is already one example of a "marketplace" shutting down and being immediately replaced with alternative interfaces - which works because the underlying smart contract doesn't care what system people use to interact with it. The "blockchain is a distributed database" part does indeed work if a system is designed to use it.

Re: Web3 is going just great

#315

Post by orange8 »

Yizahi wrote: post #254
orange8 wrote: post #247

Earlier quoted context omitted.

> 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?

Well at minimum at least something, at maximum - fully what cryptobros already promise today (so that their messages won't be lies) - proof of ownership, transfer of ownership, enforcement of ownership, decentralization, universal standards and so on. Nothing special, only the things crypto fans already say today to the gullible buyers.

> proof of ownership,

Ask for a reciept. An NFT is not selling "proof of ownership", its selling you a product

> transfer of ownership,

The so called "gullible buyers" would not be buyers without this process occurring. An NFT is not selling "transfer of ownership", the transfer is the process itself. It consists of a seller (aka crypto fan), a buyer (aka gullible buyers) and a product (the NFT). The product is what is being being transferred, so how can what is being transferred also facilitate the transfer of ownership?

> enforcement of ownership,

Again, ask for a reciept. If someone robs you, sue them or call the police. That "enforcement of ownership" you seek is a separate product.

> decentralization,

How much more decentralized do you want a jpeg on the internet to be, really?

> universal standards and so on

What universal standards exactly?

Re: Web3 is going just great

#316

Post by orange8 »

adam_arthur wrote: post #290
orange8 wrote: post #223

Earlier 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?

Well, if you create a project where the primary motivation is to enrich yourself, and you recognize that money shuffling in crypto is zero sum, it's pretty apparent that these "founders" are borderline scamming people. In most other spaces the idea has real world utility. Not like, invent virtual land and sell it to people. Oh but no use for it for now. It could be worth lots later!

You do realize there are almost 100 000 coins out there. How many of those have you actually researched about and come to the conclusion that they lacked "real world utility". Does a casino provide "real world utility"? What about a boxing match.. is there any "real world utility" in that?

Re: Web3 is going just great

#317

Post by thraxil »

delaaxe wrote: post #125
trunnell wrote: post #63

Earlier 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…

Zero knowledge proofs will revolutionize civic life

Zero knowledge proofs have existed since the 80s. How much longer do we have to wait for this revolutionizing?

Re: Web3 is going just great

#318

Post by orange8 »

Yizahi wrote: post #256
orange8 wrote: post #245

Earlier quoted context omitted.

> 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?

Assuming if the banks are bad, please tell me why are we replicating them them again but in worse way? (opaque, unregulated, anonymous and usually sitting in offshore fearing IRS sanctions)

You seem to have a very flawed, fundamental misunderstanding of either the term opaque, or what a public ledger is. There is nothing opaque about bitcoin transactions. They are all (every single one of them) open to the public. They are more traceable than cash transactions and more public than bank transactions.

> please tell me why are we replicating them them again but in worse way?

But this is just your disputed opinion. It is like asking "why is Kanye always singing and selling bad new songs, and we already have the beatles". Because they can and want to.

Re: Web3 is going just great

#319

Post by thraxil »

andybp85 wrote: post #168
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…

there's some cool stuff going on in the NFT space, e.g. my favorite band has been selling NFTs that come with access to stuff like concert videos and private events. the idea of NFTs as access to a community i think has merit - hey, if you buy a Porsche, you can go to Porsche owners clubs and stuff. nothing wrong with that. that being said, the main reason I haven't bought one (i'd love to see the concert) is you hav…

> there's some cool stuff going on in the NFT space, e.g. my favorite band has been selling NFTs that come with access to stuff like concert videos and private events.

Why do you need NFTs for that though? Bands have been selling exclusive access to content for ages using regular old currency.

Re: Web3 is going just great

#320

Post by hiq »

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…

> there's community and energy in the space that I haven't seen online since the early days of the world wide web.

Just like communities pumping AMC and other meme stocks. People get hyped easily when they can get something out of it. Why is that a criterion for anything?

> bet on it disappearing overnight or over long cold crypto winter.

Did you actually look into this? Because it's way riskier than you make it sound. In particular, I don't think it's financially sound to make this kind of bet as long as Tether exists with so little transparency.

> I assure you you will reconsider your stance if you look close enough, and it'll position you in a much better way for what's to come compared to continuing to ignore it.

After reading all your comments here, I still don't know what I should look at, beyond the "community and energy". The tech might be advanced and hard to grasp, but that's actually the part I do understand. What I'm still not seeing is the business case. Take any of the blockchain projects you seem to be fond of: what would happen if you just removed the blockchain? Would it really be worse off?

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