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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

#221

Post by wpietri »

rvz wrote: post #209
wpietri wrote: post #76

Earlier quoted context omitted.

They really don't. Not every document has to include all things relevant back to the big bang. That bit in particular has been discussed by lots of people for quite a while, including a ton of posts right here, so if you just fell off the turnip truck and are truly unaware of the web3 critiques, a little searching should set you straight. Heck, I'll even give you a place to start: https://web3isgoinggreat.com/

> Heck, I'll even give you a place to start: https://web3isgoinggreat.com/ Yeah, 'Days since a car did not crash into another car. hence why all cars are dangerous and will never take off over horse and carriages'. - Car skeptic. By now there should have been a worldwide 100% complete total ban on crypto a long time ago, just like the usage of Tor. Why didn't this happen? It's simply due to the fact that it is close…

Sorry if I wasn't clear. I'm not interested in arguing the point. I'm just saying that the point has been argued aplenty, anybody insisting that someone must spoon-feed them the arguments right now is not asking for something reasonable. Instead, they come across like somebody looking to argue. And we all know how tiresome that can be.

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

#222

Post by rvz »

root_axis wrote: post #218
rvz wrote: post #217

Earlier quoted context omitted.

> Cryptocurrency is useful as a darknet currency, Yeah, having all transactions traceable on a public ledger is surely 'useful' for criminals, scammers, etc for everyone to see once it hits the exchange. /s

The reality on the ground speaks for itself.

The reality being that it is much harder to cash out funds from crypto into fiat without leaving a single trace. Hardly benefits criminals, scammers, etc.

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

#223

Post by root_axis »

rvz wrote: post #222
root_axis wrote: post #218

Earlier quoted context omitted.

The reality on the ground speaks for itself.

The reality being that it is much harder to cash out funds from crypto into fiat without leaving a single trace. Hardly benefits criminals, scammers, etc.

If you want to make purchases on the darknet cryptocurrency is your only option.

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

#224

Post by zelias »

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…

I expect world war and the following world government that it produces to remedy this issue by 2030.

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

#225

Post by rvz »

lottin wrote: post #185
k__ wrote: post #183

Earlier quoted context omitted.

Regardless of the country you're from?

Yes.

Yes PayPal. 'Please take my funds [0] and fine me $2,500 [1] if I say anything that you don't like'.

Also, thank you Stripe. 'For locking my whole account account without any reason' [2] [3] [4] [5].

[0] https://twitter.com/flipper_zero/status/1567194641610465281

[1] https://news.ycombinator.com/item?id=33348913

[2] https://twitter.com/zhovner/status/1384568453844066305

[3] https://news.ycombinator.com/item?id=28085706

[4] https://news.ycombinator.com/item?id=33299222

[5] https://news.ycombinator.com/item?id=23881643

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

#226

Post by web3isgoing »

lottin wrote: post #175
web3isgoing wrote: post #14

The irony of this post criticizing DeFi and blockchain in the wake of FTX is that those decentralized applications are working just fine in this downturn. Aave and Uniswap aren’t failing, they are thriving.

Why would an application stop working in a downturn?

Isn’t that the point? The protocols are built to resist changes by single entities and continue working as expected, handling user deposits non custodially, regardless of market activity. HN can declare a dozen crypto deaths with each new CEX and Uniswap will just keep filling orders for whoever is sending value through it.

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

#227

Post by pwinnski »

rvz wrote: post #222
root_axis wrote: post #218

Earlier quoted context omitted.

The reality on the ground speaks for itself.

The reality being that it is much harder to cash out funds from crypto into fiat without leaving a single trace. Hardly benefits criminals, scammers, etc.

In theory, there's no difference between theory and practice. In practice, though, the proof of the pudding is in the eating, and "According to the University of Technology Sydney, about 46% of criminal activity of each year is connected to Bitcoin.[0]"

Other sources, more devoted to "this is good for crypto, actually" say the percentage is tiny-tiny, apparently by counting every transfer between any two addresses, including several that might all be related to a single real-life transaction. They seem to also have a pretty high standard for what they count as "illegal activity." Even so, they'll admit it's at least $14 billion of activity in a year.

0. https://bitcoinafrica.io/2020/03/04/crypto-illegal-activity/

1. https://blog.chainalysis.com/reports/2022-crypto-crime-repor...

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

#228

Post by lakomen »

pwinnski wrote: post #198
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…

> Do you think by 2030, all global governments and their citizens will voluntarily give away control over what they can consume and create to Google and Apple? It'll be Baidu and Tencent, but yes. This is already happening, and the internet is becoming more centralized, not less. Global traffic is balkanized, but it's split up among regional centralized controlling interesting, not no controlling interests. > Betting…

Balkanized is an interesting choice of word.

It even has a Google definition, to divide countries and make them enemies of each other.

Yet another victim of US imperialism. I weep for what was once a free and friendly nation. The kids nowadays are taught to hate their neighbors instead of learning how their parents or grandparents were part of a resistance that fought faschist Germany.

That's just an aside. Nothing to do with the topic. I will never forget how my niece walked home from school on a road that was bombed by freedom bombs by the USA 30 minutes later. Not a single soldier has stood trial. Sorry that just struck a nerve, balkanized... is a word.

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

#229

Post by mlsu »

spaceman_2020 wrote: post #190
mlsu wrote: post #156

Earlier quoted context omitted.

What makes internet commerce any different from any other commerce? I will absolutely make this bet. We already see it. Countries who don't like to play by the rules of US trade -- those who resist signing trade agreements and using our currency develop or attempt to develop alternatives, and if they lack the capability to do so, they turn to other powers (basically: China). Economic activity gets silo'd into blocs,…

> No country at all runs their internet economy on some cryptocurrency or cryptocomputation stack. And they never will, no matter how "decentralized" it is. Yep. They won't. They will centralize control even more and things that are not as conducive for the ruling power will likely get delisted and deplatformed. Which is precisely why building out the decentralized web matters. At the very least, there should be an a…

So I understand this. But "used by a few nerds" isn't what most defi/cryptocurrency purports to be. We are talking about web3 -- a paradigm shift for the entire internet. The equivalent to JS for the interactive web, or email for communication... this ain't that. And that's kind of the point: this ain't that, AND it never will be that, AND can we stop breathlessly declaring that it will be that, AND can we stop scamming people based on the promise that this will be that.

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

#230

Post by Sohcahtoa82 »

PhasmaFelis wrote: post #177
k__ wrote: post #45

Earlier quoted context omitted.

Web3 based apps where a company like Facebook or Instagram can't delete your content just because it might contain a nipple.

A content service that anyone can post to and no one can delete from. Sounds great. Someone posts child porn. Now everyone hosting that decentralized data is literally distributing child porn, and they can't stop without deleting the service from their device. Some people are thinking that maintaining a safe haven for child pornographers is a small price to pay for absolute digital freedom. They are the reason that t…

Literally the reason I abandoned Freenet shortly after I started playing around with it in like...2010 I think?

It feels like it was created for the purpose of distributing CSAM.

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