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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

#141

Post by hooande »

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 possible that crypto/web3 are a lot of diverting attention, resources and energy toward ideas that are fundamentally impractical. The fact that so many people have a financial interest in promoting these ideas makes the whole thing suspicious.

I'm really waiting for these novel and interesting products based on blockchain. like, waiting every day to see one break into the daily workflow of the average consumer. Until then I'm going to treat this technology trend with the great skepticism that it deserves.

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

#142

Post by intev »

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.

> I don't care that it might contain cool tech.

As a tech enthusiast, that's just sad to hear.

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

#143

Post by emptyparadise »

marban wrote: post #104
zenkat wrote: post #82

Earlier quoted context omitted.

What's even more hilarious is that "Web 3.0" has already been used for another (failed) evolution of the Internet -- the much-hyped switch to the "Semantic Web" of the 2010s.

They promised us the semantic web and all we got was FB OpenGraph, Twitter Cards and even more SEO gurus.

We were robbed.

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

#144

Post by rideontime »

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.

For now. That won’t remain the case if we don’t continue to push back. And we all breathe the air that the crypto miners pollute, we all suffer from the GPU shortages, whether we participate or not.

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

#145

Post by acdha »

steelstraw wrote: post #129
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.

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 i…

Don’t forget to ask them again after they learn how helpful Bitcoin is to the police. Once it’s big enough to care about, leaving a signed confession is not a good idea.

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

#146

Post by CPLX »

steelstraw wrote: post #129
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.

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 i…

> Putin can do a lot of things, but he can't freeze a bitcoin account.

He can if he's got the private key.

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

#147

Post by boringg »

If anything the equity collapse happening in real time and in crypto might allow for the hype to deflate and something valuable to grow. Think of it like the regrowth in a forest. Hopefully all the hucksters will be so burnt that they won't touch the space again allowing space for those projects people deem to be valuable to grow. It sounds naive, but maybe thats the way forward.

that's my hopefully take

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

#148

Post by GoblinSlayer »

zelphirkalt wrote: post #98
the_gastropod wrote: post #18

Earlier quoted context omitted.

> 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…

Crypto-currencies make a few people win out at the cost of others, who in hindsight mistakenly "invested". The ones who won evangelize it the most, but they don't stop and think about, where that money came from. Might be an uncomfortable thought. Then you have the hopeful ones, who hope to win out in the future. Basically all driven by volatility and the believe, that they will be able to exit at the right moment. A…

There's no choice anyway: fiat system is worse.

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

#149

Post by ProAm »

nikanj wrote: post #107
steelstraw wrote: post #59

Earlier quoted context omitted.

Crypto has famously gone through several bear markets though and a bunch of 80% corrections.

Fortunately crypto has no fundamentals, so it can't really fail financially. There's absolutely no business whatsoever, so there is no worry of the business running out of funds and thus forcing crypto into chapter 11. The stock price can drop to 0, and it would be ok. There's no stores to close due to unpaid rents, no workers to furlough, etc. In a weird way it's immortal.

They would become beanie babies.

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

#150

Post by micromacrofoot »

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…

So far the biggest "feature" of crypto seems to be the lack of regulation that more easily enables scams. This appears to be more appealing than any other feature, to the point where well-natured crypto projects spend a considerable amount of time educating people on how to avoid scams.
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