The Web3 Fraud
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The Web3 Fraud
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Re: The Web3 Fraud
#2What if you just dropped all the ideology speak and just called them platforms? Theyre open finance platforms.
Everyone building bullshit on Shopify’s platform is the exact audience that would be better off building on an open finance platform (the shopify apps that are sold to merchants). That crowd just wants to launch a product, have users, and make money passively. Thats what defi builders are doing on web3 platforms waaaaay more effectively. If you actually thought anybody cared about the consensus then haha yeah you’re the one that fell for it, not them.
Re: The Web3 Fraud
#3What if you just dropped all the ideology speak and just called them platforms? Theyre open finance platforms. Everyone building bullshit on Shopify’s platform is the exact audience that would be better off building on an open finance platform (the shopify apps that are sold to merchants). That crowd just wants to launch a product, have users, and make money passively. Thats what defi builders are doing on web3 platf…
Better in what sense? Its extremely difficult to actually use cryptocurrency for selling things beyond cryptocurrency related instruments.
You need both your vendors and your customers to be able to easily transfer money in and out, and as things stand, that's an absolutely massive pain in the ass compared to using USD, and approximately nobody does it. But that is only the start of the problems, not factoring in things like wild exchange value swings, and huge gas/processing fees.
Re: The Web3 Fraud
#4What if you just dropped all the ideology speak and just called them platforms? Theyre open finance platforms. Everyone building bullshit on Shopify’s platform is the exact audience that would be better off building on an open finance platform (the shopify apps that are sold to merchants). That crowd just wants to launch a product, have users, and make money passively. Thats what defi builders are doing on web3 platf…
Better in what sense? Its extremely difficult to actually use cryptocurrency for selling things beyond cryptocurrency related instruments. You need both your vendors and your customers to be able to easily transfer money in and out, and as things stand, that's an absolutely massive pain in the ass compared to using USD, and approximately nobody does it. But that is only the start of the problems, not factoring in thi…
But it’s fairly easy to use “cryptocurrency” to pay for things, e.g. if you have a cryptocurrency-denominated account at the same provider as your vendor. This is, of course, not open finance in any meaningful respect.
Re: The Web3 Fraud
#5I don’t understand what problem web3 can solve that a trusted entity cannot. And let’s keep in mind your reply to this comment will be using a trusted entity.
In fact in the history of the internet I cannot find a single example of any technology working better in a decentralized fashion compared to centralized for the end user
Re: The Web3 Fraud
#6You reach for Web3 when your requirements include: (a) self-sovereign ID/auth, and/or (b) hosted materials that can't be censored via a centralized hosting provider.
Horses for courses.
ps. Does he think Web3 is about storing data on the blockchain network? It's not. Ex. https://ceramic.network/
Re: The Web3 Fraud
#7What if you just dropped all the ideology speak and just called them platforms? Theyre open finance platforms. Everyone building bullshit on Shopify’s platform is the exact audience that would be better off building on an open finance platform (the shopify apps that are sold to merchants). That crowd just wants to launch a product, have users, and make money passively. Thats what defi builders are doing on web3 platf…
How is building against defi better than building on Shopify if you want to sell things to regular people who just want to exchange their money for things that they want?
Re: The Web3 Fraud
#8What if you just dropped all the ideology speak and just called them platforms? Theyre open finance platforms. Everyone building bullshit on Shopify’s platform is the exact audience that would be better off building on an open finance platform (the shopify apps that are sold to merchants). That crowd just wants to launch a product, have users, and make money passively. Thats what defi builders are doing on web3 platf…
None of your post makes sense to me.
Why are you comparing DeFi platforms to Shopify? Who are the developers choosing between these options, and what are they trying to sell? How does a DeFi platform (or any blockchain) help me to sell physical products?
Also, it seems like you're arguing that blockchain platforms are better developer experiences, which seems untrue. There are a lot of extra hurdles, costs, and scaling issues on blockchains, but enthusiasts say it's worth it for the consensus. Now you're saying the consensus is unimportant.
So what is the benefit of building on a platform (please let me know a specific one you've used and liked) and why it can't be done elsewhere?
I have seen so many HN posts like yours, but no one will give me specifics. Who are all these builders launching apps that aren't just speculation frenzies (e.g. Axie Infinity)?
Re: The Web3 Fraud
#9You reach for Web3 when your requirements include: (a) self-sovereign ID/auth, and/or (b) hosted materials that can't be censored via a centralized hosting provider. Horses for courses. ps. Does he think Web3 is about storing data on the blockchain network? It's not. Ex. https://ceramic.network/
Sometimes bloggers gotta blog, even when they just know a little bit and are just regurgitating an iteration of their preconceived notions.
Edit: Of course you get voted down because you make a substantive comment. Welcome to Hacker News' Crytpo Hater Crowd.
Re: The Web3 Fraud
#10This article misses the point, it sees web3 decentralization as purely technical and makes performance comparisons with existing systems. The power of web3 decentralization is about control, not more powerful computing. Yes your raspberry pi runs faster than the EVM, but can you give me any guarantee about what code it runs?