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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

#131

Post by kerneloftruth »

jsharf wrote: post #106
nikanj wrote: post #89

Earlier quoted context omitted.

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.

Usually I hate skeptical mean comments like this on hackernews. Right or wrong, there's a certain level of empathy missing. And yet... In this case I find myself guiltily agreeing.

I don't see anything mean in the comment, and I also fully agree (it's really well-stated). Being direct and not mincing words is not being mean.

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

#132

Post by techwiz137 »

bojo wrote: post #72
techwiz137 wrote: post #38

Earlier quoted context omitted.

That's a very disgusting generalization of the average crypto user. So since I've been using cryptocurrency for 11 years now, I am definitely a criminal or drug dealer...

Indirectly. You are processing their transactions.

This drug argument is silly. Dollars are still the main culrpit in drug deals. They still account for the majority of drug transactions in the world.

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

#133

Post by _pmf_ »

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).…

> Nobody is forcing anyone to partake in this new technology.

Like I wasn't forced to participate in the resolution and the fallout of the housing crash?

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

#134

Post by jack_pp »

alar44 wrote: post #95
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.

That and half the value of Ethereum and Bitcoin evaporated in a matter of days. No one wants "currency" that just up and loses half it's value.

If no one wanted it it would've been down 99%. People were saying the same thing you're saying when bitcoin was 1000$

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

#135

Post by xboxnolifes »

streptomycin wrote: post #51
endisneigh wrote: post #13

Crypto has only existed during the greatest and longest bull market of all time. Jury is still out on whether it can survive a prolonged bear market. Web3 consequently is also bound by this. If people are still interested in Web3 when crypto goes down 10% YoY forever then maybe there’s some inherent value there.

https://i.imgur.com/BVoYAo6.png was this a prolonged bear market?

Looking at the price of BTC and calling it a bear market is like looking at a single stock price and claiming a bear market.

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

#136

Post by acdha »

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 criticism isn’t unconstructive just because it’s inconvenient for sales and marketing purposes. Most of it is detailed point by point lists of problems the community would need to address to be successful — but trying to pretend it’s ignorable all but ensures that those advances won’t happen. If someone is working on a novel idea, the grifters using them as a blind not only aren’t helping but in fact will be competing for resources and attention.

It’s true that nobody is being forced to use cryptocurrency but we have to live on the planet blockchain proponents are polluting, and we know that many people will lose money speculating on systems which do not work. Even if you don’t care about them, that causes economic disruption and diverts resources away from better business ideas.

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

#137

Post by the_gastropod »

smrtinsert wrote: post #66
the_gastropod wrote: post #8

Earlier quoted context omitted.

They're absolutely inseparable. Web3, at least as I understand its fuzzy definition, is: websites, but... state stored on the blockchain! There are virtually 0 technical reasons for doing this—decentralization and most of the "neat" examples shown (e.g., logging into arbitrary websites without signing up) can be done much better sans-blockchain, using plain old asymmetric keys. What's motivating this is people with d…

Immutable websites aren't an interesting idea?

No. And, frankly, I'd think anyone with a half-a-brain and 30 seconds to think through the ramifications of such a terrible idea would be able to figure out why.

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

#138

Post by bodge5000 »

schleck8 wrote: post #10

Serious question: What problem does web3 or decentralization fix? - Oligopoly of the hyperscalers -> rent server from small provider like ovh/hetzner/netcup (there is plenty). The reason AWS, Azure and GCP are so popular is because people don't care. - Privavy intrusions -> Adblocker/DNS Blocker/Turn off JS/Use browser settings This won't be fixed by web3, ad monetization and tracking won't magically stop. They exist…

I'm no expert, but to me it feels like if it weren't for all the hype which promised they'd be the second coming, they could have had their genuine use cases. In many cases they'd be small and you probably wouldnt have even noticed they were in use, and maybe a few larger issues could've been solved as well. But right now, we're at a point where a use case seemingly isn't required for there to be hype around it.

Maybe all these things will fade into obscurity and come back one day and "fulfill their true purpose". If all goes well, barely any of us will care about the underlying technology of the problems they solve.

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

#139

Post by ceejayoz »

jack_pp wrote: post #119
simonw wrote: post #102

Earlier quoted context omitted.

"Nobody is forcing anyone to partake in this new technology" Plenty of its advocates very clearly WANT to force people to partake though. Anything to keep that number going up.

No they don't want to force anyone and there's no evidence of this. Just because there are a lot of evangelists doesn't mean anyone is forced to do anything

There's plenty of evidence of this; there are proposals to move house deeds, drivers' licenses, elections, etc. onto the blockchain. These wouldn't be "oh, you can just not participate" sorts of scenarios.

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

#140

Post by TigeriusKirk »

the_gastropod wrote: post #18
echelon wrote: post #7

I disagree with the article. > [...] as crypto becomes more mainstream and people experience its downsides, critics' warnings are starting to be heard. I'm not sure that public sentiment is actually being measured or is shown to be changing, or at least there's no evidence presented here. The biggest thing happening right now is the selloff, and I think that's happening due to the economic headwinds that face all ass…

> it's not doing any better Really? As of writing, the S&P500 is down ~10% from its all-time-high. Bitcoin is currently down over 50% of its ATH. Other cryptocurrencies are faring even worse. The stock market is doing significantly better. This is an oft frustrating topic in the world of cryptocurrency enthusiasm. The contemporary American banking and finance system is awful . It's worthy of a great many of criticism…

As of Friday, 42% of NASDAQ stocks were down over 50% from their highs.
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