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Web3 – An Arrogant and Treacherous Successor Doomed to Fail

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Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#61

Post by pavlov »

k__ wrote: post #45
sys_64738 wrote: post #38

What's a succinct definition for Web3/3.0/etc that I can tell my mother in law in 20 secs? I don't actually know what it's meant to be.

Web3 based apps where a company like Facebook or Instagram can't delete your content just because it might contain a nipple.

It’s amazing how this description is entirely unrelated to the reality of the so-called web3. Not just “we’re still working out some of the details,” but literally none of it exists.

It’s like you’re promised a grand night at the opera and the bus takes you to a roach-infested casino. “Music? We don’t need it, the slot machines make enough sound. Now are you going to buy some tokens?”

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#62

Post by nailer »

ceejayoz wrote: post #55
nailer wrote: post #51

Earlier quoted context omitted.

Web3 isn't about cryptocurrency, it's about owning your own identity instead of Google, Apple, Facebook.

What "web3" project doesn't involve a cryptocurrency concept as a technological underpinning?

With a zero balance, identity. Identity is simply connecting to a wallet and reading a signed DID - the wallet could have zero balance and it still works. Boom you just signed into something without Google / Facebook / Apple.

With close to a zero balance (but not quite zero) to pay transaction fees, you can do peer to peer encrypted messaging without central arbiters.

With close to a zero balance (but not quite zero) to pay transaction fees, you can send vast quantities of stablecoins to the otherside of the world - that said a web3 skeptic may consider stablecoins to be a cryptocurrency (there's arguments either way, they're tokens but not minted via proof of stake) and capitalisation is an issue.

Edit: reply to peoplefromibiza, who made some good points, due to rate limit:

> wallets are a cryptocurrency concept

yes, agreed. But they do a lot more than let you speculate on cryptocurrencies. Right now I'm working on wallet for people who have zero interest in speculating on cryptocurrencies.

> you can do the same thing with a client certificate

yes agreed. You can think of web3 as a better PKI. I do.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#63

Post by kabdib »

k__ wrote: post #49
ceejayoz wrote: post #44

Earlier quoted context omitted.

There's still an important distinction between "the semantic web" and "a bunch of cryptocurrency fuckery", both of which have been termed "Web 3" at times.

The distinction is that "the semantic web" went nowhere and "a bunch of crypto currency fuckery" has millions of users globally.

s/user/sucker/g

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#64

Post by nemo44x »

zenen wrote: post #28

Dang, this sucks. Not the post, I respect & understand the opinion. It sucks that the initiative of creating a deflationary currency started this massive wave of people thinking that they're smarter than whoever invented Bitcoin in the first place. Everybody bought in to the hype but nobody wants to invest the time into understanding how the actual technology works. "In fact the entire Blockchain arena is filled with…

> capitalism is in its late stages and government bailouts won't keep it floating forever.

It's funny to see this critique pop up in various places completely unaware of the fact that capitalism has more or less been dead since the 1940s. The Great Depression was the end of them as a dominating cultural force and they've been replaced by a managed-everything; a management class.

So when you speak of capitalism only existing in its current late stage because of unsustainable government bailouts, you're really referring to the managed world we've lived in since the New Deal which began not only the popular things we all know and associate with it, but it also massive introduced corporate governance, a managed economy, more and more government institutions/regulations/departments/etc.

We still have some rare examples of swashbuckling capitalists shaping the world to their vision (see: Elon Musk) but they are very unpopular with the managerial class because of that (see: Elon Musk).

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#65

Post by [deleted] »

bastawhiz wrote: post #15

It's worth noting that the title here confuses "web3" with "web 3.0". It means "web3". Web3 is the crypto nonsense that the article talks about, which has almost nothing to do with the web. Web 3.0 is Tim Berners Lee's vision for a decentralized web: https://www.cnbc.com/2022/11/04/web-inventor-tim-berners-lee... I think it's an important distinction to make. Web 3.0 is noble in its vision and intentions, while web3…

[deleted]

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#66

Post by itslennysfault »

Renaud wrote: post #46
angry_moose wrote: post #29

Earlier quoted context omitted.

Paraphrasing this week's TWiT: Web 1.0 and 2.0 were created by engineers to solve problems. Web 3/3.0 was invented by finance bros to disguise their various scams as the next technology revolution.

>Web 3/3.0 was invented by finance bros Web3, not Web 3.0, not the same thing at all, the latter is the next incarnation of Tim Berners-Lee's vision for the web and has nothing to do with finance and crypto bros. It's important to make the distinction because 3.0 is actually important.

Honestly...... 3.0 is actually dead on arrival thanks to the proliferation of "Web3" the brand damage is done and "3.0" should find a new name ASAP.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#67

Post by [deleted] »

bastawhiz wrote: post #15

It's worth noting that the title here confuses "web3" with "web 3.0". It means "web3". Web3 is the crypto nonsense that the article talks about, which has almost nothing to do with the web. Web 3.0 is Tim Berners Lee's vision for a decentralized web: https://www.cnbc.com/2022/11/04/web-inventor-tim-berners-lee... I think it's an important distinction to make. Web 3.0 is noble in its vision and intentions, while web3…

[deleted]

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#68

Post by smoldesu »

k__ wrote: post #17
roody15 wrote: post #8

Earlier quoted context omitted.

Exactly… NFT’s blah blah .. blockchain everything .. came off as like a sales pitch and never seemed to resonant as where the web was headed

Web2: you stop paying a cloud provider, your data is gone. Web3: you stop paying a network, your data stays online. Either because it's permanent by default (blockchain, blockweave) or because people deem it interesting and pin it (IPFS) Seems like a fundamental improvement to me.

IPFS isn't Web3

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#69

Post by clpm4j »

douglaswlance wrote: post #39

>The real single reason for which I believe that all this will come tumbling down is cause of the fact that all this is falsely hyped as being something better than its predecessors but in reality it is not. How so? If you're saying that this is the one single reason, then you have to support it with evidence.

It's slower and more expensive.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#70

Post by peoplefromibiza »

nailer wrote: post #62
ceejayoz wrote: post #55

Earlier quoted context omitted.

What "web3" project doesn't involve a cryptocurrency concept as a technological underpinning?

With a zero balance, identity. Identity is simply connecting to a wallet and reading a signed DID - the wallet could have zero balance and it still works. Boom you just signed into something without Google / Facebook / Apple. With close to a zero balance (but not quite zero) to pay transaction fees, you can do peer to peer encrypted messaging without central arbiters. With close to a zero balance (but not quite zero)…

wallets are a crtptocurrency concept.

you can do the same thing with a client certificate, boom, you are who the cert says you are.

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