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Web3 and crypto skepticism is growing and people are finally starting to listen

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Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#121

Post by phyalow »

acdha wrote: post #62
phyalow wrote: post #30

Earlier quoted context omitted.

No "Web3" really isnt just a marketing campign. Look up web3.js, which had its first release in 2015, it offers a set of tools for creating and interacting with ephemeral/emergent internet architecture which is what Web3 is really about. I dont disagree there are a number of less than scrupulous people floating around selling worthless tokens, BUT to solely focus on them is to ignore a real core of interesting comput…

Are you not talking about https://github.com/ethereumproject/web3.js ? That’s built on Ethereum to encourage use of their microtransaction-based service. > BUT to solely focus on them is to ignore a real core of interesting computer science advances. Examples? Specifically, which advances are you referring to which solve a problem other than “now you can do something you could do before but by paying me instead”?

>>Examples?

See: Whisper [1] and Swarm [2]

[1] https://eth.wiki/concepts/whisper/whisper-overview

[2] https://www.ethswarm.org/

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#122

Post by eqmvii »

axg11 wrote: post #60

The relentless number of anti-crypto and anti-web3 articles on HN is tiring. Nobody is forcing anyone to partake in this new technology. Skepticism is healthy, but criticism without being constructive is not. There are clearly _some_ novel ideas in the crypto space, even if you think the state of the community today is not healthy. Thousands of teams are exploring ideas on many different fronts (e.g. L1s, L2s, NFTs).…

> The relentless number of anti-crypto and anti-web3 articles on HN is tiring. Nobody is forcing anyone to partake in this new technology.

But they ARE financially incentivized to bring more people into the ecosystem, which makes for a very loud and persistent hype machine.

I find the negativity here refreshing, to be honest. The proponents of the tech are so organized but the skeptics have the choice to just ignore it.

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#123

Post by danso »

axg11 wrote: post #60

The relentless number of anti-crypto and anti-web3 articles on HN is tiring. Nobody is forcing anyone to partake in this new technology. Skepticism is healthy, but criticism without being constructive is not. There are clearly _some_ novel ideas in the crypto space, even if you think the state of the community today is not healthy. Thousands of teams are exploring ideas on many different fronts (e.g. L1s, L2s, NFTs).…

One of the criticisms against web3 and crypto is that it’s ultimately a high tech pyramid scheme, solving few problems that it didn’t create on it’s own. If that’s the case, then we should want and expect to see rising criticism and pushback. Crypto doesn’t exist in a vacuum, and if unscrutinized, can have unintended harms across technology and society in general

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#124

Post by slaw3 »

axg11 wrote: post #60

The relentless number of anti-crypto and anti-web3 articles on HN is tiring. Nobody is forcing anyone to partake in this new technology. Skepticism is healthy, but criticism without being constructive is not. There are clearly _some_ novel ideas in the crypto space, even if you think the state of the community today is not healthy. Thousands of teams are exploring ideas on many different fronts (e.g. L1s, L2s, NFTs).…

Its easy for me to forget that the majority of people working in tech are employed by companies offering centralized services. The majority of these companies have little to gain from traction of cryptocurrency and many have no plan in place to benefit from web3. Not surprising to me that people shun the hand that does not feed them.

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#125

Post by [deleted] »

intrasight wrote: post #105
fullshark wrote: post #4

The evidence to support the claim is pretty weak, basically there's some more anti-crypto blogposts and documentaries out. I could easily make an article with the reverse claim and point out the pro-crypto blogposts and documentaries.

I think there is a seed of a good idea in Web3. We should know in about a year what, if anything, grows out of that seed.

[deleted]

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#126

Post by rrjjww »

axg11 wrote: post #60

The relentless number of anti-crypto and anti-web3 articles on HN is tiring. Nobody is forcing anyone to partake in this new technology. Skepticism is healthy, but criticism without being constructive is not. There are clearly _some_ novel ideas in the crypto space, even if you think the state of the community today is not healthy. Thousands of teams are exploring ideas on many different fronts (e.g. L1s, L2s, NFTs).…

It’s not just HN. It’s all over the web. There are some novel and interesting products being developed (reading about the theory behind Uniswap liquidity pools blew my mind) that people totally ignore because it’s easier to hate on the latest meme coin.

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#127

Post by crent »

nefitty wrote: post #44
fullshark wrote: post #4

The evidence to support the claim is pretty weak, basically there's some more anti-crypto blogposts and documentaries out. I could easily make an article with the reverse claim and point out the pro-crypto blogposts and documentaries.

Sentiment in online chatter correlates with price movement. It becomes a feedback loop. Maybe the criticism is finally overwhelming people's risk functions.

It's also correlated with fed talks of rising interest rates which tends to coincide with capital moving from risk-on assets to risk-off assets. Growth tech stocks are taking quite a hit too.

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#128

Post by can16358p »

ttul wrote: post #29

It’s pretty cool that I can send $1M to someone without a bank intervening, not to mention that nobody can stop the transaction from happening. And then they can print that out onto a sheet a paper and put it into a vault. Crypto is really great if you’re a drug dealer or some other kind of criminal.

...Or want an alternative to corruption.

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#129

Post by steelstraw »

nikanj wrote: post #89
axg11 wrote: post #60

The relentless number of anti-crypto and anti-web3 articles on HN is tiring. Nobody is forcing anyone to partake in this new technology. Skepticism is healthy, but criticism without being constructive is not. There are clearly _some_ novel ideas in the crypto space, even if you think the state of the community today is not healthy. Thousands of teams are exploring ideas on many different fronts (e.g. L1s, L2s, NFTs).…

I don't support robocall spammers, even if their tech stacks might contain interesting nuggets. At best your typical crypto project is just a planet-destroying unregulated casino, at worst it's criminal fraud. I don't care that it might contain cool tech. The same goes for e.g. ransomware. It might be innovative. It's still a huge blight on humanity.

Bitcoin and crypto might seem unnecessary in a democracy with a stable currency and it's easy to focus on the scams. But in countries with deeply unstable economies and authoritarian politics, it is a lifeline. Bitcoin has been used by dissidents and activists in places like Cuba, Nigeria, and Belarus. In Russia, the country’s most prominent opposition politician and Putin critic, Alexei Navaly, has raised millions in Bitcoin. Putin can do a lot of things, but he can't freeze a bitcoin account. If you want to understand what crypto is really about, ask Venezuelans if they’d rather own bolívar or Bitcoin. And with creeping authoritarianism in the West, and the USD inflating and at risk of losing global reserve currency status (petrodollar), I wouldn't be so confident it'll never happen here.

Re: Web3 and crypto skepticism is growing and people are finally starting to listen

#130

Post by aresant »

The part I don't understand about the crypto fear-uncertainty-doubt crowd is how binary they think the outcomes are going to be

NFTs - yes you can right click and save as. No they haven't figured out at scale how to attach the image / work to the ledger. Yes hype and pyramiding is a fucking disaster and people would go to prison trying those antics in any other industry. But digital art, music, & culture has a real deficit in ownership, provenance, etc.

Cryptocurrency - Yes there is pyramiding and wash trading galore. Maybe tether has inflated the entire market by a million percent. Yes proof of work uses too much energy. But gov't money printing, censorship, property rights, transfer complexity etc has left a vaccum for something that even resembles a currency that serves the individual.

As others have noted many times over we are very early, it is unlikely that we've yet seen what will be a broadly used solution but there is real product market fit here already illustrating massive demand.

On HN in particular how do you build something to serve to that end?

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