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Web3 – An Arrogant and Treacherous Successor Doomed to Fail

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Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#141

Post by k__ »

spaceman_2020 wrote: post #136

So many short-sighted critiques. Web3 or whatever might not be the answer, but you have to ask yourself a question: what's the internet going to look like in 2030, when the majority of its traffic is non-western, and a massive share of all purchasing power resides in Africa and Asia? Do you think by 2030, all global governments and their citizens will voluntarily give away control over what they can consume and creat…

True.

I liked the term web3 somehow, but the more I read how people react to it, it might be already burned.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#142

Post by smoldesu »

k__ wrote: post #129
smoldesu wrote: post #71

Earlier quoted context omitted.

Entirely this. And when it comes time to show success stories, they co-opt other decentralized tech like IPFS or DID. None of that needs a blockchain to operate and does just fine without implementing one. Web3 is truly DOA.

Again, web3 isn't just blockchains. IPFS is a fundamental web3 tech since it's inception, even it's creators from Protocol Labs say so. Just because you like it more than blockchains doesn't mean it's not part of web3. IOTA uses hashgraphs. ArWeave uses blockweaves. IPFS uses DAG.

Sorry, but Web3 can't simply adopt whatever definition is convenient for the present arguement (no 'Metaverse' moment for you). IPFS can adopt whatever identity it wants, but simply wanting to usurp HTTP doesn't make it "Web3 tech since it's inception". It sounds like they're doing a great job driving the project into irrelevance, for whatever that's worth.

I don't think your definition of Web3 is generally agreeable.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#143

Post by smoldesu »

pavlov wrote: post #140
k__ wrote: post #129

Earlier quoted context omitted.

Again, web3 isn't just blockchains. IPFS is a fundamental web3 tech since it's inception, even it's creators from Protocol Labs say so. Just because you like it more than blockchains doesn't mean it's not part of web3. IOTA uses hashgraphs. ArWeave uses blockweaves. IPFS uses DAG.

And let’s not forget SMTP which is a core part of web3 because it’s a decentralized protocol after all. What amazing foresight they had in 1980 to build a web3 protocol before web1 even existed!

Don't forget HTTP, the original distributed protocol. Did we just wormhole to Web3 from Web1?

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#144

Post by k__ »

pavlov wrote: post #140
k__ wrote: post #129

Earlier quoted context omitted.

Again, web3 isn't just blockchains. IPFS is a fundamental web3 tech since it's inception, even it's creators from Protocol Labs say so. Just because you like it more than blockchains doesn't mean it's not part of web3. IOTA uses hashgraphs. ArWeave uses blockweaves. IPFS uses DAG.

And let’s not forget SMTP which is a core part of web3 because it’s a decentralized protocol after all. What amazing foresight they had in 1980 to build a web3 protocol before web1 even existed!

I get your point.

But, SMTP, just like Mastodon, isn't decentralized, it's just distributed.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#145

Post by unstoppablecode »

k__ wrote: post #54
lxe wrote: post #48

In 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.

Been an avid HN reader for 10+ years. Really surprised at the anti-crypto sentiment here. The tech speaks for itself despite the annoying meme coins. JP Morgan's father told him not to invest in Edison because he thought electricity was evil. Superior tech won out

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#146

Post by ceejayoz »

k__ wrote: post #121
ceejayoz wrote: post #98

Earlier quoted context omitted.

Which of those have the "millions of users" the upthread comment referred to?

Good point. The ones I wrote probably just have a few 10k max. Maybe, the Internet Archive is a better example millions of users?

The Internet Archive is a web3 project? It was founded in 1996. Web 2.0 didn't exist then.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#147

Post by polygamous_bat »

abiro wrote: post #127

Web3 refers to the emerging shift in internet value chains from permissioned, centralized databases to permissionless, decentralized databases where users own their data. The driving force behind Web3 is that we can now enforce invariants on state transitions in a permissionless, decentralized manner for a limited set of applications (mostly financial). For an even more limited set of applications, we can also enforc…

I am sure people would like the permissionless, decentralized databases if they didn't come with microtransactions that promise early adopters large gains at the expense of later users, like... a glorified ponzi scheme.

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#148

Post by m00dy »

k__ wrote: post #141
spaceman_2020 wrote: post #136

So many short-sighted critiques. Web3 or whatever might not be the answer, but you have to ask yourself a question: what's the internet going to look like in 2030, when the majority of its traffic is non-western, and a massive share of all purchasing power resides in Africa and Asia? Do you think by 2030, all global governments and their citizens will voluntarily give away control over what they can consume and creat…

True. I liked the term web3 somehow, but the more I read how people react to it, it might be already burned.

More and more people realize the difference between cefi and defi. I have never seen a defi protocol wrecked during this bear market. Everybody is talking about Tether, but who knows DAI ?

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#149

Post by spaceman_2020 »

NovemberWhiskey wrote: post #116
spaceman_2020 wrote: post #80

Earlier quoted context omitted.

Paying for things ONLINE with a crypto wallet is legitimately a far, far better experience than fumbling around with credit cards. A seamless on-ramp from a bank account to a crypto wallet will really change the way we pay for things online. I believe this on-ramp is coming with CBDCs. Edit: HN is hopelessly anti Wayne Gretzky when it comes to crypto :D Edit 2: I should have mentioned 'online'

> Paying for things with a crypto wallet is legitimately a far, far better experience than fumbling around with credit cards. ... and when you talk about "experience", what do you mean here? I doubt there's a much slicker payment experience than Apple Pay when a vendor supports that, and I'm also pretty sure that my disputing a transaction with Chase is better than an equivalent crypto experience.

I mean paying for things online. Should have mentioned that.

I bought a subscription to a tool called Icy.tools a while back. The sign-up process was as follows:

- Click the "Sign-Up" button on the website - Click the "Sign" button on the web wallet pop-up. - Click "Pay" on the next screen - Click "Approve Transaction" on the web wallet pop up.

That's it. No forms to fill. No emails to share. No credit card info to fill up. An equivalent non-crypto experience would be Sign-up > Share email > Verify email > Fill payment details > Enter OTP on credit card website

Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail

#150

Post by RC_ITR »

spaceman_2020 wrote: post #136

So many short-sighted critiques. Web3 or whatever might not be the answer, but you have to ask yourself a question: what's the internet going to look like in 2030, when the majority of its traffic is non-western, and a massive share of all purchasing power resides in Africa and Asia? Do you think by 2030, all global governments and their citizens will voluntarily give away control over what they can consume and creat…

It’s always so interesting to me that we already saw this happen - look no further than China - and they became oligapolized even more than the west.

Centralization works. You may not like it and you hope that developing world won’t either, but WhatsApps success sort of invalidates all your points.

Countries are fine handing over nearly all their data to whatever platform works best, because who wants less than the best?

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