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.
Owning your digital identity instead of renting it.
Web3 – An Arrogant and Treacherous Successor Doomed to Fail
91–100 of 267 posts
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#92Earlier quoted context omitted.
Web3 isn't one centralized entity that's either fake or true. It's a bunch of bullshit, mixed with many slick ideas. I believe in web3, but I also believe that art NFTs and crypto bros running grifter companies like MtGOX and FTX give it a bad rap. Luckily, the ecosystem is now big enough that you can avoid that crap pretty easily.
> Web3 isn't one centralized entity that's either fake or true. It’s not centralized, but the players are incredibly good at moving in lock step together. This is most obvious on Twitter, where one of the loudest crypto/web3 cheerleaders will introduce a new idea and within hours all of the other loudest crypto/web3 accounts are Tweeting some variation of the same thing. The whole industry isn’t centrally coordinated…
It’s like crypto: the con is in tricking people into thinking they’re not just pawns.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#93Earlier quoted context omitted.
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.
Imo Web 3.0 is Webtransport / Webassembly / WebGPU. But Web 2.0+ may be a more fitting name.
I was thinking that web 3 would be fitting for ActivityPub, WebTorrent, Namecoin and IPFS.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#94Earlier quoted context omitted.
It's in the Web3 picture in the article.
I met many Protocol Labs people on crypto conferences and they pretty much see themselves as one of the core web3 technologies.
They were very influential to Web3. That being said, it's like saying that BitTorrent is a Web3 protocol just because the general interests/end goals are shared between projects.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#95Web 3.0 is the Semantic Web anyways.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#96>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.
> How so? If you're saying that this is the one single reason, then you have to support it with evidence.
This feels like asking someone to prove a negative by providing singular examples.
I’m still looking for an example of a web3 product that is more usable, more beneficial, and more attractive than the centralized equivalent. So far the only real benefits appear to be decentralized censorship resistance and, arguably, the unnecessary tokenization that allows early adopters to get wealthy based on speculation of future functionality.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#97Earlier quoted context omitted.
I think, you should look into Filecoin and Arweave. Your assumptions seem to be based on the (rather specific) use-case of art NFTs. They got quite some hype, but to be honest, I didn't get them either.
1. Both the mindshare and marketshare of NFTs and similar garbage dwarfs any use of Filecoin. 2. Dropbox and Drive are cheaper and better. S3 is cheaper.
1. That's not really an argument. There is literally exabytes of data on Filecoin (https://stats.filecoin.io/d/z6FtI92Zz/filecoin-chain-stats?o...)
2. And gone if you stop paying.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#98Earlier quoted context omitted.
I'm with you on the success (or lack thereof) of the semantic web. I don't consider gambling a good thing just because there are millions of gamblers. I feel the same about cryptocurrency.
How is using a decentralised Twitter alternative like Lens gambling? How is using a decentralised Zoom alternative like Huddle01 gambling? How is using a decentralised Pusher alternative like Push gambling? I agree, that in the last years most web3 apps focused on financial/blockchain specific use-cases. I also agree, that many of them had quite dubious claims. But that's not all there is and I think, that won't be t…
Which of those have the "millions of users" the upthread comment referred to?
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#99In order to understand Web3 culture, look into Professional Wrestling ( https://en.wikipedia.org/wiki/Kayfabe ). Web3 is fake/staged, but everyone participating in Web3 either knows this, doesn't know this, or pretends not to know this.
Web3 isn't one centralized entity that's either fake or true. It's a bunch of bullshit, mixed with many slick ideas. I believe in web3, but I also believe that art NFTs and crypto bros running grifter companies like MtGOX and FTX give it a bad rap. Luckily, the ecosystem is now big enough that you can avoid that crap pretty easily.
> crypto bros running grifter companies like MtGOX and FTX give it a bad rap.
... and Poloniex and 3AC and Bitconnect and Terra and Celsius and Quadriga and BTC-e and and and...
The scams in the ecosystem outweigh the good by 100:1 or more. It doesn't matter how big it is if all of it is crap.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#100Earlier quoted context omitted.
It's slower and more expensive.
That's not a good enough critique of a new tech. Applicable once it has reached maturity, but Ethereum and EVM smart contracts are relatively very new. If they're still slow and expensive in 2025, Web3 will rightly deserve to be forgotten and abandoned.
Crypto's been around for over a decade dude. How many decades do you want?
Why would I ever build a business around an Ethereum smart contract when I could just write a normal contract, and then I know the courts will enforce it even if one of my business associates tries to pull a fast one?
If it's about the precise coding of constraints and all that, you can easily write a legal contract that specifies that the piece of code should be followed. Ask wall street derivatives traders if they have any issues with making paper legal contracts arbitrarily mathematically complex. It works fine for them.