Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

coywolf.news

Post reply on HN
Print view View original

251–260 of 433 posts

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

#251

Post by thebean11 »

Jasper_ wrote: post #233
Duckton wrote: post #152

Earlier quoted context omitted.

Is it thought? Can’t web3 be, for an example, patient health data in a ledger? Who says it has to be tied to a monetary value?

Because the security underpinning blockchain is either "spend a bunch of expensive electricity and get extra tokens" (proof of work) or "lock up some tokens for a chance to get more" (proof of stake) These tokens have to be worth something in order for the security to functionally exist. You can't separate the monetary side from the security, because the monetary side incentives the security. And security is the only…

I don't completely agree with that. Yes the network must be secured that way, and the native token must be worth real money, but that's not something applications built on top necessarily need to worry about or interface with. You can build applications that do not use the native token (outside of transaction fees) and that doesn't affect the app's security.

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

#252

Post by [deleted] »

ben_w wrote: post #240
jack_pp wrote: post #134

Earlier quoted context omitted.

If no one wanted it it would've been down 99%. People were saying the same thing you're saying when bitcoin was 1000$

As the famous quote says, markets can remain irrational a lot longer than you and I can remain solvent. And there isn’t an upper limit to who can buy into bad ideas or how badly they can go wrong. https://youtu.be/lMUtU0tOmNE

[deleted]

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

#253

Post by cedilla »

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…

The problem is that NFTs and cryptocurrencies don't even try to solve the problems of art ownership or everyday currencies, respectively.

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

#254

Post by duxup »

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).…

What would be constructive?

Most of the articles are fairly detailed, people put in effort.

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

#255

Post by [deleted] »

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.

[deleted]

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

#256

Post by helen___keller »

A simple maxim: web3 cannot succeed when the underlying currency is a good investment.

Actual web3 users, if they exist, have to convert IRL money to coin to power a dApp. Thus, the price of coin rising against IRL money represents inflation in the cost of using the dApp.

In this fashion, web3 is similar to housing. The enthusiasts want it to be a great investment, but to be best for fulfilling human needs it should be a poor investment. The only difference is you can’t opt out of needing shelter.

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

#257

Post by nefitty »

fullshark wrote: post #116
nefitty wrote: post #44

Earlier quoted context omitted.

Sentiment in online chatter correlates with price movement. It becomes a feedback loop. Maybe the criticism is finally overwhelming people's risk functions.

My point is there's not even evidence to support online chatter turning negative. Any topic that is polarizing and growing in terms of chatter will produce more positive/negative blogposts and youtube videos. I could write this blogpost substituting in anti-vax sentiment for example pretty easily.

I didn't assert whether sentiment was changing or not, just sharing the pattern in case someone reading hadn't thought of it. Sentiment is easy enough to check. I'm not doing crypto homework though.

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

#258

Post by monktastic1 »

jack_pp wrote: post #119
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.

No they don't want to force anyone and there's no evidence of this. Just because there are a lot of evangelists doesn't mean anyone is forced to do anything

Force is a spectrum. Even a gun to the head isn't a force: you could just accept the bullet, after all.

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

#259

Post by cedilla »

GoblinSlayer wrote: post #148
zelphirkalt wrote: post #98

Earlier quoted context omitted.

Crypto-currencies make a few people win out at the cost of others, who in hindsight mistakenly "invested". The ones who won evangelize it the most, but they don't stop and think about, where that money came from. Might be an uncomfortable thought. Then you have the hopeful ones, who hope to win out in the future. Basically all driven by volatility and the believe, that they will be able to exit at the right moment. A…

There's no choice anyway: fiat system is worse.

The "fiat system" doesn't even compete with crypto currencies.

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

#260

Post by matheusmoreira »

alexyz12 wrote: post #157
danschumann wrote: post #73

Is it possible to have a decentralized country? Take the united states... people are basically free to sneak in, without becoming residents, without "downloading the American OS into their brains" aka citizenship. Now, what if all countries allowed this? Or, what if a "decrentralized country" offered citizenship with no actual geographic location? Does American citizenship offer people benefits overseas? For example…

how are they supposed to come to your aid through hostile territory? its so much easier to protect you when you are within the borders.

> how are they supposed to come to your aid through hostile territory?

Isn't that what american taxpayers fund the US military for?

Post reply on HN