Web3's opportunity is crypto trading. I'm working on automating it, with an MVP due soon: https://tradecast.one
Web3 is centralized and inefficient
511–520 of 769 posts
Re: Web3 is centralized and inefficient
#512> A lot of Web3 platforms are in fact centralized. Your wallet (MetaMask), marketplaces (OpenSea), APIs (Alchemy) are all central platforms. Sure, they use a distributed database (blockchain), but before that it’s still a Go app on AWS, meaning its centralized. > Your wallet (MetaMask) Run your own node. This is lazy reporting to reach the end point about fawning over FreeBSD (its in the article, literally an article…
> literally an article about having fun staying poor And here it is. When the technical merits of “web3” fail to illicit genuine change (networks effects are powerful and matter [0]), its advocates fall back on the “get in or stay out” mentality, which is frankly a red flag for a supposedly technical project. > could just as easily be steered into "how to improve the concept of Web3" If web3 cannot sustain itself due…
> Coinbase complies with sanctions. OpenSea removes artwork.
Complying with sanctions is a good thing; removing stolen artwork is a good thing. You... know this, right?
Re: Web3 is centralized and inefficient
#513I'm curious, Are there any web 3 sites worth visiting? Can someone point to something that I should try out to access web 3?
Maybe lens.dev or poap.xyz for social uses
Re: Web3 is centralized and inefficient
#514What's amazing to me is that if you want to find any of these decentralized systems, you have to trust some centralized entity identifying them as the true system. For example, want to download MetaMask? How will you find it? Google MetaMask and trust that Google will have filtered out all the fake MetaMask wallets set up to steal your money. Want to lend money on a DeFi platform like Anchor? Again, Google and hope t…
Proof of Work is the source of truth [0]. That is why Proof of Stake cannot work. You are describing one of the biggest of the problems with PoS perfectly. [0] https://dergigi.com/2021/01/14/bitcoin-is-time/
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Re: Web3 is centralized and inefficient
#515"I didn’t really want to work on Windows or .NET for a living, and developing on Windows is still a struggle for me, but I had to."
That will probably not help him on his next evaluation for a bonus or promotion...
Gif of drying tears with cash
Re: Web3 is centralized and inefficient
#516Earlier quoted context omitted.
This is a false dichotomy. Most people don't want to run their own mail servers. That isn't the same thing as saying we need a single entity to be in charge of email. There are thousands of independent email providers. Your emails get marked as spam if you have two users, not if you have two thousand. And small providers getting marked as spam isn't because it's necessary to prevent spam, it's because large providers…
It's telling that email is the last popular, useful protocol. Almost every application (chat, video conferencing, file sharing etc.,) since then have been proprietary and closed wall gardens. It is as if big corporations clearly saw open protocols being a big threat to their monopoly and either didn't bother building apps that adhere to existing protocols or were openly hostile to them.
Http?
Re: Web3 is centralized and inefficient
#517> A lot of Web3 platforms are in fact centralized. Your wallet (MetaMask), marketplaces (OpenSea), APIs (Alchemy) are all central platforms. Sure, they use a distributed database (blockchain), but before that it’s still a Go app on AWS, meaning its centralized. > Your wallet (MetaMask) Run your own node. This is lazy reporting to reach the end point about fawning over FreeBSD (its in the article, literally an article…
“Have fun staying poor” It’s so obnoxious to assert that poverty is a choice, or falsely claim that anyone can get rich by investing in crypto.
It’s from the article you should read it and take it up with the author
> Sure, I would have been much richer if I chose Bitcoin instead of FreeBSD. But I probably would have become a worse person, not having had to work hard since I’d have 10 million dollars right now
Re: Web3 is centralized and inefficient
#518Earlier quoted context omitted.
> Humans are lazy. They'll go with the #1 option, even if it means building a centralized monopoly. Am I lazy because I don't forge spare parts for my car and install them myself? No. I leave this to the huge, rich, established company that manufactured my car, and their contractors. Why? Because the only times I ever repaired anything in a car, was in videogames. And I want to be sure that the thing that I entrust m…
This example is silly - it's actually impossible for you to forge spare parts for your car, as most of them require multi-million dollar machines to manufacture, the information on how they are made, blueprints or schematics are not avaliable to you. And even if you succeed, someof them are IP protected so this is a terrible analogie.
Maybe it's just me, but unless I'm crazy you've just listed all of the reasons it's actually an entirely workable analogy.
Re: Web3 is centralized and inefficient
#519People use centralized systems because they actually like the convenience that comes with it. And with that, comes the decentralized system changing in such a way that it changes to almost NEEDING centralization. The problem is that engineers and cybersecurity people all think that everyone else thinks like they do, when in actuality the complete opposite is true. The biggest example is the internet itself - the inte…
Just look at git adoption.
Git's selling point is that it's decentralized and distributed... but just look at the shitshow that happens whenever GitHub goes down. Git may allow for developers to all pull from each other, but in practice your employer will always have a canonical repo that's blessed as the official source, and if that one becomes unavailable for any reason work grinds to a halt. And that goes double if your company's deployment process is tied to GHA.
Re: Web3 is centralized and inefficient
#520Earlier quoted context omitted.
"a bit of censorship resistance" tell that to the russians right now, or to all the other 3. world countrys whose only hope for usable currency is bitcoin
I'm not sure how much Federation would do against government censorship in practice, for an average person. It's not like it can bypass a firewall or protect you legally if you connect them with an illegal VPN or something. It's great if Facebook is censoring you, but it doesn't seem strong enough to protect you all that strongly against someone bigger who can just shut down a platform if they don't like the content…
I'm not a normal user of bitcoin or any crypto, but I have not seen large unpredictable fees in a while. My transaction fees are almost always 0.00001 BTC or less, with my typical transfer being anywhere from 0.0004 BTC to 0.002 BTC.
Sure its a little different than most payment providers where the person initiating the payment pays the fees, but the fees are well under credit card rates.