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In 2022, Web3 went just great

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Re: In 2022, Web3 went just great

#81

Post by wonderwonder »

Eisenstein wrote: post #13

I would feel bad for people who lost money in crypto if every time I tried to warn them during the bubble they wouldn't have said 'have fun staying poor' and called me ignorant. It is tough to remain motivated to try and convince people that they are making bad decision when they actively berate you. It feels like telling someone about to jump into the shallow end of a swimming pool from a balcony that they are going…

I think you likely encounter the rude people on twitter hiding behind anon. accounts. My step dad lost ~30k in what he thought was a relatively safe investment (earning APY). I did tell him to be very careful as most of crypto to the uninitiated is a scam. He ended up being able to put Ethereum in but not able to take it out. Obviously if the returns appear to good to be true they probably are but this is an older guy with limited financial experience and virtually no technical knowledge. These people sit there on the sidelines approaching a tough retirement watching people get rich or "earning" 15% APR and start to panic that they are missing a once in a life time opportunity and jump in. Its sad.

Re: In 2022, Web3 went just great

#82

Post by simongray »

danaris wrote: post #70
onebot wrote: post #52

The problem I have with articles like these is that my definition of Web3 is quite a bit different. I tend to lump "crypto" more with NFTs, wild speculation, scams, heavily VC backed "decentralized" tokens, etc. But on the other hand, I want social networks not owned by businesses, I want other major utilities also not owned by major companies (I think gmail is used for 8bn addresses). I think the fediverse is nice s…

I really, really hope that we can "reclaim" that definition of web3 (which, from what I can tell, was the original one, hijacked by cryptocurrency proponents as the scams mounted and the value of Bitcoin rose in the last few years) as the cryptocurrency sphere collapses in on itself, because I'm right there with you on the desperate need for genuine decentralized internet and societal infrastructure. (I'm deeply, dee…

The original Web 3 was the Semantic Web.

Re: In 2022, Web3 went just great

#83

Post by BonitaPersona »

RetpolineDrama wrote: post #38
Eisenstein wrote: post #13

I would feel bad for people who lost money in crypto if every time I tried to warn them during the bubble they wouldn't have said 'have fun staying poor' and called me ignorant. It is tough to remain motivated to try and convince people that they are making bad decision when they actively berate you. It feels like telling someone about to jump into the shallow end of a swimming pool from a balcony that they are going…

>I would feel bad for people who lost money in crypto if every time I tried to warn them during the bubble they wouldn't have said 'have fun staying poor' Not everyone that lost money did this to you though, seems unfair to judge most people who are just trying to get by because of a few assholes on the internet

This is the most important point in my humble opinion: we keep confounding the most extreme and vocal and annoying minority for the moderate whole. It keeps happening and happening. Together with the corolary of confounding twitter and "The Internet" with real life.

Re: In 2022, Web3 went just great

#84

Post by 627467 »

onebot wrote: post #52

The problem I have with articles like these is that my definition of Web3 is quite a bit different. I tend to lump "crypto" more with NFTs, wild speculation, scams, heavily VC backed "decentralized" tokens, etc. But on the other hand, I want social networks not owned by businesses, I want other major utilities also not owned by major companies (I think gmail is used for 8bn addresses). I think the fediverse is nice s…

I never understood the need for "web3" because as far as care "dapps" seems to cover anything non-financial/payment in "crypto".

Blockstacks was initially release with "decentralized" storage that allows me to interact with dapps that would use that storage to hold my data. To me that was and still is the pattern of what I consider "web3".

Re: In 2022, Web3 went just great

#85

Post by recursive »

qbasic_forever wrote: post #45

"The collector who dropped $2.9 million on an NFT of Jack Dorsey’s first ever tweet found himself in a bind in April, when he tried to resell the NFT and wound up with a top bid of… $280." Hahaha, wow. You couldn't even take a 2.899 million dollar write off loss on your taxes too! Just straight vaporizing nearly 3 million bucks.

Honest question: why not? I don't really understand the nuance of taxes. I just use a tax app and answer the questions.

Re: In 2022, Web3 went just great

#86

Post by selimthegrim »

PaulHoule wrote: post #6
5350-uiop-1130 wrote: post #4

I would estimate 95% of those are inside jobs. Very very very few people have the ability and wherewithal to hack a smart contract or bridge, they are extremely convoluted, ugly and difficult to understand.

"Convoluted, ugly, and difficult to understand" is for crackers like throwing Brer Rabbit into the Brer patch.

I believe the idiom you’re looking for here when trying to warn them is “singing Ol’ Dan Tucker to a hurricane”

Re: In 2022, Web3 went just great

#87

Post by UncleMeat »

627467 wrote: post #84
onebot wrote: post #52

The problem I have with articles like these is that my definition of Web3 is quite a bit different. I tend to lump "crypto" more with NFTs, wild speculation, scams, heavily VC backed "decentralized" tokens, etc. But on the other hand, I want social networks not owned by businesses, I want other major utilities also not owned by major companies (I think gmail is used for 8bn addresses). I think the fediverse is nice s…

I never understood the need for "web3" because as far as care "dapps" seems to cover anything non-financial/payment in "crypto". Blockstacks was initially release with "decentralized" storage that allows me to interact with dapps that would use that storage to hold my data. To me that was and still is the pattern of what I consider "web3".

"Web3" conveniently allows proponents to say "hey the web took a while to catch on" and use that as an argument for the inevitable success of these systems. The connection in naming is essential.

Re: In 2022, Web3 went just great

#88

Post by selimthegrim »

sumeno wrote: post #20
seanw444 wrote: post #18

Earlier quoted context omitted.

Or we could spend less money on an ad campaign to explain what crypto actually is, and what it's good use cases are, and what it's not good for. Rather than, you know, binding it up in vague and obnoxious legalese.

An ad campaign for buying drugs and avoiding sanctions isn't going to go over very well

RT might take you up on it.

Re: In 2022, Web3 went just great

#89

Post by dharmab »

tantalor wrote: post #77
helf wrote: post #65

Earlier quoted context omitted.

Same. I’m one of those lucky few who had futzed with BTC in 2011 when it was almost brand new and then forgot about it till 2019 when it started spiking. I spent two weeks digging through boxes and imaging hard drives before miraculously finding my wallet.dat from 2011 that I luckily hadn’t encrypted or even passworded lol. Had 3.25btc in it (I remembered the .25. The extra 3 were a shock.). I ended up paying for my…

> shoulda seen my broker’s face... That rigamarole could have been easily avoid by converting the crypto to cash, which is trivial to prove is yours. Did they end up accepting the crypto directly, or as cash? Edit: thanks for the clarification, I didn't realize the issue wasn't with possession so much as provenance.

> That rigamarole could have been easily avoid by converting the crypto to cash, which is trivial to prove is yours.

In US law this is a taxable event.

Re: In 2022, Web3 went just great

#90

Post by mhluongo »

tantalor wrote: post #77
helf wrote: post #65

Earlier quoted context omitted.

Same. I’m one of those lucky few who had futzed with BTC in 2011 when it was almost brand new and then forgot about it till 2019 when it started spiking. I spent two weeks digging through boxes and imaging hard drives before miraculously finding my wallet.dat from 2011 that I luckily hadn’t encrypted or even passworded lol. Had 3.25btc in it (I remembered the .25. The extra 3 were a shock.). I ended up paying for my…

> shoulda seen my broker’s face... That rigamarole could have been easily avoid by converting the crypto to cash, which is trivial to prove is yours. Did they end up accepting the crypto directly, or as cash? Edit: thanks for the clarification, I didn't realize the issue wasn't with possession so much as provenance.

If it's within 30 days in the US, there will still be an issue with provenance of funds.
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