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Why Web3?

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Re: Why Web3?

#321

Post by beardedman »

Zaskoda wrote: post #281
beardedman wrote: post #238

The people who are advocating web3 are not the people who were part of building web1 & web2 (whatever those even mean). They're people who are idealistic & seem to disregard (or are ignorant of) the effort in building infrastructure at scale. Building things is hard. Building things that scale even harder & anybody who has worked at a company that needs to scale knows there are trade-offs between security, centralisa…

I've been building for the Web since 1994. I advocate for Web 3.

No offense, but my intention was to say people who built the web (infrastructure/protocols), not building for the web.

Re: Why Web3?

#322

Post by ncphil »

Web 3.0 is either snakeoil, or a Ponzi scheme. Or both.

We'll all know soon enough. After all, it's not like any actual engineers are going to have a say in this: just the donors and their retainers.

Re: Why Web3?

#323

Post by tmcw »

This seems fine. Fred’s up-front about this being a belief and a bet, not an eventuality. That’s what I expect from investors, and what they should be - along with having basic accounting sense.

Re: Why Web3?

#324

Post by cam0 »

Kiro wrote: post #206
moritonal wrote: post #116

Earlier quoted context omitted.

Because the only reason I can imagine someone wanting a open database without gate keepers is for something the society I've aligned with has decided is illegal. At the end of the day, I guess I trust the goverment I vote for and the banks I decide on more than a distributed group of strangers. Do you have an example of a DB that was unfairly limited by a gate keeper?

Facebook, Twitter or any walled garden. I can't build any app I want on top of those without risking it being limited, restricted or shut down... If they even provide an API at all.

So don't build on FB and Twitter? You do realize you can build an application and very easily host it for the world to access on AWS/GCP/Azure - unless you're doing something illegal or highly unethical the cloud services aren't going to kick you off. It sounds like you're saying you want to build a social media app but you don't like the fact that social media is dominated by a handful of companies (because the majority of users want to use their product already).

Re: Why Web3?

#325

Post by akudha »

andreilys wrote: post #273
root_axis wrote: post #68

I'm not convinced. People talk grand about "permissionless data" but I fail to see any practical applications. NFTs are a scam and are retroactively obsoleted by digital signatures. All of the ideas about logistics tracking, deed tracking, etc etc are all rendered pointless by the oracle problem, you can get identical guarantees with digital signatures minus the blockchain. DeFi is DOA. Gas fees are insane, "layer 2"…

DeFi is DOA. Gas fees are insane, "layer 2" is just a diplomatic way of saying "offchain centralization" It may come as a surprise but there are other chains that support DeFi apps and which do not have high gas fees like Ethereum. For example, Avalanche and Solana. Collateralized crypto loans are the equivalent of people taking loans out on their equity position so they don’t have to pay cap gains and don’t need to…

Solana is centralized, no? If a handful of people can shut down the entire network in a few minutes, how is it a strong network? How is it not centralized?

Re: Why Web3?

#328

Post by thedjpetersen »

davidhariri wrote: post #84

> Frankly, it is all too much for me. Same. I've been actively unfollowing people on Twitter every day to clean my feeds of it. I'm not anti-web3 or anti-crypto, but I definitely don't need to read the same rhetoric from 100 people a day. Decentralized trust could be great, but I wonder how much time actually needs to be spent talking about it vs. actually building it...

Instead of unfollowing I've found that muting specific terms or words to be fairly useful at tuning the signal

Re: Why Web3?

#329

Post by pazimzadeh »

mgraczyk wrote: post #278
andreilys wrote: post #273

Earlier quoted context omitted.

DeFi is DOA. Gas fees are insane, "layer 2" is just a diplomatic way of saying "offchain centralization" It may come as a surprise but there are other chains that support DeFi apps and which do not have high gas fees like Ethereum. For example, Avalanche and Solana. Collateralized crypto loans are the equivalent of people taking loans out on their equity position so they don’t have to pay cap gains and don’t need to…

That is not why people take out loans. They do it for leverage and to avoid selling because they want exposure to ETH or BTC. There are easier ways to avoid taxes.

Go on

Re: Why Web3?

#330

Post by discardedrefuse »

I've been noticing this web3 buzzword picking up steam on here for months now. And it all feels very manufactured (much how metaverse has been co-opted and tainted by Facebook). I suspect this web3 push is just cryptobros shoehorning their schemes into relevance.

https://trends.google.com/trends/explore?q=web3

On the other hand, if you're paying attention, you might have noticed a push back to web1 and even older tech. I hope whatever is next actually springs forth from that movement. Because a platform built around extracting wealth sounds horrible.

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