41–50 of 225 posts
Can I agree with him about everything with the exception of Bitcoin? It’s less illegitimate than central banking.
I'm not sure I understand your meaning; I don't think I know what definition of "illegitimate" you're operating with.
And usually that there is some big doomsday financial event coming up that only “hard money” like bitcoin can avoid.
> Blockchain is the greatest technological fraud of the last decade. A fraud so simple, so ridiculous and yet so brilliant, it's taken in even some genuine experts in its thrall of empty hype and false promises. On top of this fraud sits the even greater fraud of Bitcoin and cryptocurrencies, which are nothing more than unregulated, unlicensed, wild west securities. They are functionally useless as currencies outside…
You forgot the second paragraph > That's one paragraph and already I can feel the simmering controversy, the reddening faces, the indignation and the angry accusations that I don't know what I'm talking about. What can I do with Web3 that I can't do or have trouble doing any other way?
You don't need blockchains and other such cruft for a simple signature system, but there's nothing on the web that actually makes use of such a system except for some government systems or intranets. Currently, every website asks for an email address and a username, but for most people that email address can easily be taken from them. This is especially bad for services that work with "magic links".
WebAuthn and now FIDO2 may soon fix this problem, tieing your base identity to a cryptographic key, either in hardware or software, with email as a mere recovery option if the worst were to happen.
As for an answer to your question: use the core protocol to generate speculative value through hype and pyramid schemes and cash out big time in a bigger-sucker scheme before you're found out.
99% of Web3 is crap. 1% pure gold. Same thing with the first .com bubble. AI have been through this too and is now having a revival. Blockchain and Web 3 is not going anywhere it will just not be championed by the current generation. The coming will use this as it was the most normal in the world.
The .com bubble ratio was more like 33% crap, 33% meh, and 33% gold. The "crash" was that people realised that the 33% crap was crap.
The equivalent crash for Web3 would wipe it out completely, taking the 1% with it.
Also, I don't agree that there is a 1% to begin with. I've never heard of any compelling use-case for Web3.
Earlier quoted context omitted.
Well, read up on what existed before the 401k in the US, and how retirement works in Europe for comparison. You're betting on stonks going up and then switching to bonds and safer investments closer to retirement, hoping that the caprices of capitalism won't wipe your savings when you need them. Except: https://nypost.com/2022/06/09/401ks-drop-amid-market-turmoil...
If inflation is 10%, then most places you put your money won't hold value over time.
I mean, I get what you mean.. but we have a -40% differential here to prove you utterly wrong at the moment.
Its allowed me to pay when paypal/credit cards/my bank have decided they're going to not allow payment to a service.
It's allowed me to get paid cash in hand without having to involve entities who its none of their business why that money has been paid to me.
It's allowed me to bypass currency exchange issues and fleecing.
> Do you have any problem buying airline tickets now? Do airlines have any problem selling them to you? Of course not; this process is already efficient and optimal. I don’t know about optimal, there are middlemen everywhere.
Where are the middlemen? I buy most tickets directly from the airline website.
Whomever wrote this is quite late to the anti-crypto "helpful PSA" grift.
I wrote it, it's just an opinion piece on my personal blog. No grift; what do you think I'm doing, selling the post as an NFT?
This could be just one of any of the tech or services written using it.
I would be interested to read. Thanks.
I think this kind of misses the point.
Cryptocurrency has already accomplished incredible things. For example, it's never been easier to buy LSD. DAOs make it simple to work remotely without needing to reside in a specific location.
All the benefits of crypto come from their ability to circumvent regulations. It lets people do business peer-to-peer over the internet, out of sight from national governments and their laws. That's the point.