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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

#171

Post by boredumb »

My vague understanding is Web3 will be distributed assets being loaded by people who have wallets that can receive small funds for distributing them and users that have wallets that can receive a split of the proceeds from providers that are orchestrating ideas+assets into user data that is valuable for marketers.

I don't actually see why people are skeptical of this, people who don't care about "data ownership", "distributed web", etc have incentive by some "free" money, decent amount of political incentive for some people to move to less "centralized" authorities of discussion and online socializing, and a growing political incentive for "privacy and ownership of your own data".

Whether you care or agree that it's a problem, or if it's solving any of the issues and arguments has very little bearing on actual adoption of this stuff when being able to get "paid" (even in shitcoins) for seeing ads/seeding assets/doing computations when AFK, is alluring and marketable to a lot of people and I think there are enough smart folks that want to figure out a way to get a more distributed web along with a profit model that I don't know if i'm as bearish on this iteration of "web3" as the comments on HN tend to portray.

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

#172

Post by yehNonsense0 »

phillipcarter wrote: post #120
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.

Not just advocates. Investors! a16z is practically building up a media agency around crypto because they've sunk such a heavy amount of capital into the space.

No post body was provided.

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

#173

Post by rideontime »

rrjjww wrote: post #126
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.

If (hypothetically) I’m anti-crypto, why should I care about defi, which, as I understand it, is all about trading crypto for crypto?

e: This isn’t meant to be a rhetorical question. Ever since Mark Cuban tweeted something about some loans that defi enables I’ve been wondering why I should care.

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

#174

Post by sandworm101 »

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…

>> But in countries with deeply unstable economies and authoritarian politics, it is a lifeline.

Or a crutch. It may be allowing some countries to stagger along with support of a grey/black market rather than collapse, wipe out debts, and install new leadership. And it may be the worst type of crutch: one that you trust to hold you up but will one day snap and injure you worse than before.

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

#175

Post by user-the-name »

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

Absolutely, completely wrong.

Bitcoin is using HALF A PERCENT of the electricity on the ENTIRE PLANET. That affects every single person living on this planet. It will affect people living here into the future. It is an absolute catastrophe that is hurting everyone. We don't get to "not partake" in that.

Bitcoin is the one single thing that has enabled the ransomware epidemic by making it possible for ransomware to be massively profitable. Critical infrastructure and hospitals get shut down by this. This affects millions of people, putting some at deadly risk. We don't get to "not partake" in that.

And once we get to smaller, less dramatic negative effects of cryptocurrency, the list just goes on and on. We are affected by this. We don't get to opt out.

Ban cryptocurrencies NOW, before they do any more harm to us and our planet. They are worthless and damaging.

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

#177

Post by moron4hire »

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.

It's not pretty cool that I can send whatever malicious content I want to a wallet and the receiver has no recourse against receiving it. Want to harass someone with dick-picks that empty their wallet when they try to "delete" them? Web3 has got you all day long.

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

#178

Post by yellow_postit »

danso wrote: post #123
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

one thing that's been a good development in my view is central banks taking more seriously retailer and digital concerns, even if the impetus is one of regulation. Trying to stay neutral on the inherent politics of it all...but the Fed's recently released paper [1] for comment on developing a centrally backed digital currency recognizes some very real challenges and opportunities that the current US banking system has not well solved for.

[1] https://www.federalreserve.gov/central-bank-digital-currency...

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

#179

Post by ivan4th »

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…

BTW they're about to impose (almost) total ban on crypto in Russia exactly b/c of FSB complaints that it's being used to fund the opposition, such as Navalny's followers

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

#180

Post by thjkgfgrrioppo »

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…

Censorship and centralized control, hopefully. People owning their own content.
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