Web3 – An Arrogant and Treacherous Successor Doomed to Fail

Post by lottin » Wed, Nov 23, 2022, 11:49 AM UTC

web3isgoing wrote: post #250

lottin wrote: post #247

Earlier quoted context omitted.

DeFi really is just a series of distributed (not necessarily decentralised) applications that enable parties to enter into agreements involving virtual tokens without the need for a contractual agreement between them. Not relying on contractual agreements places enormous constraints on what DeFi can do. For example, DeFi can't handle counterparty risk at all. Therefore DeFi doesn't remove the need for conventional fi…

DeFi never claims to provide the exact same fiat and off-chain services as CeFi and CEX. It has specific goals, like replacing custody with non-custody, or replacing a centralized exchange with an automated market maker that no single party can control. This has different risks and trade-offs, obviously, but users who opted for Uniswap instead of FTX as their crypto exchange are probably pretty happy with their decis…

Post by lottin » Wed, Nov 23, 2022, 1:34 PM UTC

web3isgoing wrote: post #252

lottin wrote: post #251

Earlier quoted context omitted.

This is like telling someone who got a terrible haircut that they should have shaved their head instead. If they got a haircut it's because they wanted a haircut not a shaved head.

Your analogy makes no sense. There are many users who just want to hold crypto and perform basic lending and exchanges, and would be willing to spend fractionally more in gas fees to achieve this with higher security guarantees. Everybody at Barber CEX got a surprise head shaving the other week, meanwhile Barber DEX is still cutting people's hair normally even though it is more expensive and harder to find.

Post by ceejayoz » Wed, Nov 23, 2022, 2:57 PM UTC

lakomen wrote: post #228

pwinnski wrote: post #198

Earlier quoted context omitted.

> 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 t…

Post by foobiekr » Wed, Nov 23, 2022, 7:51 PM UTC

mschuster91 wrote: post #245

foobiekr wrote: post #180

Earlier quoted context omitted.

In the us the credit card option has very strong statutory consumer protections. As a rule people should be using credit cards, not debit cards. I am fascinated by the ridiculous claims that this somehow makes things hard.

> In the us the credit card option has very strong statutory consumer protections. As a rule people should be using credit cards, not debit cards. ... and pay a lot of interest to their banks as a result. Here in Europe, we don't need to pay interest for credit cards or worry about paying CC bills on time to avoid them, as we have strong consumer protection laws in general and SEPA direct debits can be clawed back no…

Post by splix » Wed, Nov 23, 2022, 7:58 PM UTC

lottin wrote: post #185

k__ wrote: post #183

Earlier quoted context omitted.

Regardless of the country you're from?

Yes.