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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

#161

Post by pessimizer »

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.

> Jury is still out on whether it can survive a prolonged bear market.

One thing we know for sure is that it ain't gold since it moves with the market rather than against it.

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

#162

Post by pirate787 »

simonw wrote: post #102
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" Plenty of its advocates very clearly WANT to force people to partake though. Anything to keep that number going up.

Actually the people of El Salvador are being forced to partake as their country is buying BTC reserves.

https://www.bloomberg.com/news/articles/2022-01-21/el-salvad...

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

#163

Post by minimaxir »

intev wrote: post #142
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.

> I don't care that it might contain cool tech. As a tech enthusiast, that's just sad to hear.

Any cool innovations genuinely offered in good faith by web3/crypto are confounded by all the bad actors.

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

#164

Post by matheusmoreira »

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.

So is encryption in general. Same technology that protects us also protects them.

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

#165

Post by boringg »

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…

How about how they convert to useable local currency for day to day operations? Off ramps are still guarded unless i'm mistaken.

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

#166

Post by spamizbad »

aresant wrote: post #130

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 d…

> 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.

There are several NFT "thought leaders" who have casually floated the idea of eliminating "right-click save-as" functionality for NFT'd images. So it seems to be slowly evolving in the direction of a DRM scheme.

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

#167

Post by [deleted] »

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).…

[deleted]

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

#168

Post by simonw »

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 find it remarkable that a 2hr18m YouTube documentary that is mostly a guy talking directly to the camera has racked up 1.2m views in 2 days.

https://youtu.be/YQ_xWvX1n9g

(It's an extremely well presented video, but still!)

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

#169

Post by indymike »

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.

It's not really cryptocurrency that is fueling it. It is the absolute silliness around NFTs and the rush to import some "blockchain" to otherwise uninteresting products and companies to make them somehow relevant. This is a pattern we saw a lot with prior trends like search, cloud, machine learning and AI.

> Thousands of teams are exploring ideas on many different fronts (e.g. L1s, L2s, NFTs).

Skepticism is what happens when the thousands of failures start failing. There are sure to be some winners, but the space is overheated, and the silliness that has ensued over NFTs is the kind of thing that happens when a space gets overheated.

> Isn't that what Hacker News should be about?

Yes, but part of that is realizing that maybe your time is served better by hacking on something else where there are not thousands of failures happening. I don't see this as unhealthy community, it feels like maybe the market is maturing and you are going to get that signal earlier here than you will in the general market. Why? Because a lot of technology elites are here.

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

#170

Post by AlexandrB »

On this note. This recent video is probably the most detailed and incisive critique of cryptocurrency and NFTs that I've seen: https://www.youtube.com/watch?v=YQ_xWvX1n9g

It not only covers the technical limitations, but also the ideological flaws.

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