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Why Web3?

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Re: Why Web3?

#241

Post by root_axis »

kkjjkgjjgg wrote: post #232
root_axis wrote: post #212

Earlier quoted context omitted.

The author could use a unique private key for each blockchain NFT if they wanted to avoid that.

The problem of how to associate a NFT with a physical object is a different one from the transfer/spending problem. I think that is the "minting" problem. An artist simply signing stuff does not even prove that a physical object corresponding to the token exists. I like to think of other use cases, like real estate or stock options. If you talk about a plot of land, it seems feasible to find a unique identifier (you…

> I like to think of other use cases, like real estate or stock options. If you talk about a plot of land, it seems feasible to find a unique identifier (you could even involve the government).

A deed digitally signed by the government's private key satisfies this need without a blockchain.

Re: Why Web3?

#242

Post by Apocryphon »

throw_nbvc1234 wrote: post #150
drawkbox wrote: post #42

Earlier quoted context omitted.

Further, open databases will potentially make it harder for iterative change on that data. Structures and versioning become harder when that is distributed at the protocol/standard level. Right now the web is already distributed, the protocols/standards are open and versioning data/content/apps/endpoints on top of that is easy, but updating protocols/standards takes time. Apps are a second layer to that, versioning i…

> In a way with cryptocurrency, the real goal of the investors of web3 is recreating the web with a sort of toll system, that can be good and bad but their aim is collecting on actions on new protocols/standards. One could argue that today's web is a combination of ad-based revenue and tolls run by (near?) monopolies: app stores, marketplaces, ect... The crypto-like alternatives such as substack and patreon are growi…

What makes these alternatives "crypto-like" other than being less centralized? Are they even less centralized, other than being platforms owned by smaller corporations that choose to (for now) exercise a lighter touch?

Re: Why Web3?

#243

Post by Kiro »

jandrese wrote: post #221
Kiro wrote: post #213

Earlier quoted context omitted.

Moderation and filtering can happen on the user application layer with the underlying data still being open and accessible. Right now the gate keepers are Big Tech deciding who and when someone or something can access the data.

Personal spam control has its own issues. Managing the filter can end up consuming all of your time on the platform and that effort has to be replicated for every user. Worse, public perception will be that your platform is unusable because the horrendous first impression it makes. So maybe you decided to make public filter lists, but then the people making the filters end up being the defacto operators of the platfo…

I mostly meant the app you're using to access the data doing the moderation for you.

I don't think we would be back to square 1. We would still have the possibility to create new clients and build whatever applications we want without being under the mercy of Big Tech holding the data hostage. Sure, maybe one such app talking to the open platform would become dominant and the de facto operator but at least it wouldn't have the power to restrict, limit or shut down other apps.

Re: Why Web3?

#244

Post by JaggerFoo »

I see a few ways where blockchain/token/NFT/DAO technology/structure makes sense for enterprises - unfortunately I can't elaborate.

In the U.S., VC's are the only ones that can contribute and speed up projects, since the SEC has no safe harbors that allow smaller startups to innovate. So either do not innovate or try with the worry of the SEC killing your project. It's best for smaller projects to not allow any U.S. investment, but even then you may have a problem.

It kind of seems as if the U.S. is protecting Wall Street from Web3 under the guise of protecting retail investors. There are a lot of players that are currently collecting "Economic Rent" that may be displaced by Web3 innovation.

But there is also a lot of hype and streams of B.S. on twitter, where I had to unsubscribe to a few of the gurus, and wondered if all they did is produce fodder for the masses Aping into Crypto, so they can be brought to slaughter.

Cheers

Re: Why Web3?

#245

Post by ninkendo »

capableweb wrote: post #184
zzzeek wrote: post #173

Earlier quoted context omitted.

> Want to share where I can read the unified opinion from the "tech community"? a good place to start would be the majority of replies on this thread

HN is such a small slice of the "tech community", if we see the definition the same way (people who work in "tech"). I don't think you should take anything you read here as "majority of people in tech thinks like this", because the size is so small.

What other online tech communities are there out there that I can check out? If you say this is such a tiny one, I’d love to see the “bigger than HN” community you must be referring to.

Re: Why Web3?

#246

Post by brightstep »

throwaway984393 wrote: post #122
davidhariri wrote: post #84

> Frankly, it is all too much for me. Same. I've been actively unfollowing people on Twitter every day to clean my feeds of it. I'm not anti-web3 or anti-crypto, but I definitely don't need to read the same rhetoric from 100 people a day. Decentralized trust could be great, but I wonder how much time actually needs to be spent talking about it vs. actually building it...

Decentralized trust is another way of saying a grapevine. Grapevine communication (or trust) is only useful in specific circumstances, and is often actively detrimental. Why are so many people just going along with these concepts as if they make sense? It's like nobody's using their brain.

I think there's a class of crypto believers who see "Web3" as a political movement, a way to dilute or break the power of institutions like e.g. the fed, Facebook, etc. To them, the grapevine is a secret sauce that will magically eliminate centralized power.

Re: Why Web3?

#247

Post by zhoujianfu »

jrsj wrote: post #208
indigochill wrote: post #90

Earlier quoted context omitted.

> Decentralized trust could be great, but I wonder how much time actually needs to be spent talking about it vs. actually building it... And the order of operations. Traditionally, you build something great (or an MVP) and market it. The crypto community has been putting the marketing before the building. It's probably uncontroversial to say although cryptocurrency -could- do great things, right now the bulk of trade…

The reason you see this is that the entire “web3” landscape is controlled by VCs. Also the underlying infra this stuff is running on isn’t very decentralized at all and with proof of stake it likely never will be. If you want true decentralization you’re going to need a combination of Bitcoin/Lightning Network/side chains to recreate a lot of what has been built out on other more centralized platforms. But VCs don’t…

Or just bitcoin cash!

Re: Why Web3?

#248

Post by moflome »

jayd16 wrote: post #37
matchagaucho wrote: post #18

Earlier quoted context omitted.

Because experienced VCs know web 1.0 also started with decentralized / libertarian ideals, but ultimately early players built walled gardens and gatekeeping around the "world wide web". They don't want to miss the web3 boat, and they're betting the web 1.0/web 2.0 playbooks still apply.

Agreed. Most of the decentralization talk is Kabuki and it's still about controlling the platform.

Upvoting for the use of kabuki in explaining the melodramatic pantomime of crypto hype, if only we were all more artisanal in building out this nascent blockchain tech. Imagine if tcp/ip were invented today with all this pre-marketing by VCs

Re: Why Web3?

#249

Post by [deleted] »

Kiro wrote: post #106

I don't like how the extreme hatred toward Web3 has spiraled into "I see no practical application for decentralization". Crypto and blockchain aside, how can you not see the utility in an open firehose database/API without gate keepers? Don't conflate decentralization with blockchain.

[deleted]

Re: Why Web3?

#250

Post by [deleted] »

DJBunnies wrote: post #9

Web3 doesn't mean anything, it's just the adopted jargon of a couple of groups with different visions for what it means. I fear more posts relating to said nonsense will only legitimize those topics in the eyes of the uninformed.

[deleted]
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