The Web3 Fraud

Post by [deleted] » Fri, Dec 17, 2021, 4:58 AM UTC

jjnoakes wrote: post #46

v64 wrote: post #39

Earlier quoted context omitted.

"mostly" being the key word :) If you're self-hosting, then your server is a weak point. It goes down, your app goes down. The additional cost and risk that comes with using blockchains provides a platform for your app to run on that you don't have to manage and is highly resistant to being shut down. Likewise, there always exists the possibility that your server can be compromised and the code can be altered. The im…

There are easy mitigations for those things though. My self hosted apps run on immutable infrastructure and are replicated and load balanced. Still stupid cheap and easy.

Post by toomuchtodo » Fri, Dec 17, 2021, 4:59 AM UTC

systemvoltage wrote: post #55

toomuchtodo wrote: post #40

Earlier quoted context omitted.

Crypto isn’t about technology. It’s about wealth and power (literally!) on top of a (slow) distributed database. As technologists, we ought to recognize the difference and see the forests for the trees. As a technologist, I cannot unsee the patterns nor look away. I’m sure you’d find similar musings in 2600 or Phrack decades ago.

I am not talking about Crypto (I presume you mean crypto currencies). I am talking about technologies that enable centralization vs. decentralization.

Post by esjeon » Fri, Dec 17, 2021, 4:59 AM UTC

v64 wrote: post #13

Many criticisms of blockchain apps, comparing their use cases to conventional technologies (databases, conventional separation of services such as that described in the article, etc) all seem to miss a major point: Dapps running on the blockchain are immutable and highly resistant to being shutdown. Immutability is important because it's guaranteed that no matter how many times you interact with a contract address, y…

Post by lumost » Fri, Dec 17, 2021, 4:59 AM UTC

v64 wrote: post #39

jjnoakes wrote: post #25

Earlier quoted context omitted.

I get mostly the same features with self-hosted and local traditional apps for a fraction of the price and much lower general financial risk as well.

"mostly" being the key word :) If you're self-hosting, then your server is a weak point. It goes down, your app goes down. The additional cost and risk that comes with using blockchains provides a platform for your app to run on that you don't have to manage and is highly resistant to being shut down. Likewise, there always exists the possibility that your server can be compromised and the code can be altered. The im…

Post by mjevans » Fri, Dec 17, 2021, 5:00 AM UTC

Animats wrote: post #32

endisneigh wrote: post #5

I 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

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 Usenet.