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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

#261

Post by HeckFeck »

boringg wrote: post #221
HeckFeck wrote: post #202

Earlier quoted context omitted.

Even if you are prevented, at least having money in BTC is better than having no money at all. And there are always workarounds. It wouldn't be impossible to use an exchange in another country, for one.

Yeah but under an authoritarian regime they can just squeeze you until you run out of operating cash since it would likely be a long game. I recognize that there are benefits to having some assets - I still don't believe this to be a strong enough argument. Also - in that case you are just talking about hiding assets from the government. While the use case for dissidents is good - to me I would wager the amount of pe…

I don't think it is moral to outlaw a new technology just because some criminals are using it. There is nothing inherently criminal with the technology. Similar to nuclear, guns, computers, cars, anything. Someone is always going to sharpen a stick and use it for murder. Should we assume that everyone who collects sticks is a murderer, and therefore we should outlaw stick collecting (enforced by "good" stick wielders)?

If you object became more criminals are using it, then we simply need to promote its use among B2B and B2C. A trustless and decentralised electronic currency is surely a freedom-enabling idea and should be promoted. It has long been the dream of cryptopunks and cryptographers.

Lots of crime is facilited by, and done in the name of fiat currency too. BTC can limit that. It's just a currency and one consciously designed to avoid the inherent flaws of fait.

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

#262

Post by mns »

slaw3 wrote: post #191
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.

Ya pretty cool that someone from Ghana living in Canada could send $5000 worth of crypto to their family without a bank intervening. Also pretty cool that they could be paid per second instead of weekly or monthly using something like Superfluid. If these are problems that don’t exist for you, consider yourself lucky and remind yourself of the opportunities for many that you’re advocating against.

How are the people in Ghana transform that crypto allegedly worth 5000$ in real money or in things from real life, like paying utilities, food, transport costs and others?

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

#263

Post by egeozcan »

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…

We have a financial system, why not try to optimize it instead of trying to build something from scratch?

The problems we have (long, inefficient transactions for example) are there because it's hard to do regulation right. You're not helping anyone by creating something impossible to regulate. It's like trying to solve misjudgements by completely getting rid of law, or trying to do law by public opinion (the consensus problem).

Also there's always been a lot of new companies that serve customers with new financial tools. How you do banking did not stay the same in the last 20 years right? Yes it's slow but, as I said, it's hard to do innovation when you are playing with people's life savings.

But suddenly a ponzi scheme comes and all sense is out of the window.

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

#264

Post by zeruch »

indymike wrote: post #169
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).…

> The relentless number of anti-crypto and anti-web3 articles on HN is tiring. It's not really cryptocurrency that is fueling it. It is the absolute silliness around NFTs and the rush to import some "blockchain" to otherwise uninteresting products and companies to make them somehow relevant. This is a pattern we saw a lot with prior trends like search, cloud, machine learning and AI. > Thousands of teams are explorin…

"This is a pattern we saw a lot with prior trends like search, cloud, machine learning and AI." This is the industry pattern and has been the case going back many decades; the only real change is since the dotcom era, it's spread to consumers playing along, whereas prior to that it was largely just the 'investor class' in the sandbox.

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

#265

Post by kyruzic »

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

Nothing, literally nothing about web3 is a pyramid scheme. Yes you can build a pyramid scheme on top of web3. No web3 is not a pyramid scheme.

You can build a pyramid scheme on facebook too, but facebook is not a pyramid scheme.

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

#266

Post by [deleted] »

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).…

[deleted]

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

#267

Post by streptomycin »

xboxnolifes wrote: post #135
streptomycin wrote: post #51

Earlier quoted context omitted.

https://i.imgur.com/BVoYAo6.png was this a prolonged bear market?

Looking at the price of BTC and calling it a bear market is like looking at a single stock price and claiming a bear market.

Please tell me what cryptocurrencies existed in 2017 with prices that were not highly correlated to BTC.

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

#268

Post by ben_w »

user-the-name wrote: post #206
can16358p wrote: post #128

Earlier quoted context omitted.

...Or want an alternative to corruption.

Cryptocurrency does nothing, nada, zilch, zero to address corruption in any shape. In many ways, it helps corruption, by providing a way to secretly transfer funds.

Agree about the first sentence, but for the second, don’t underestimate the value of a suitcase full of gold bars.

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

#269

Post by kyruzic »

simonw wrote: post #102
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" Plenty of its advocates very clearly WANT to force people to partake though. Anything to keep that number going up.

This is like crying about online only games. No they aren't forcing you to take part, don't use their products or services if you don't like it.

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

#270

Post by kyruzic »

ceejayoz wrote: post #139
jack_pp wrote: post #119

Earlier quoted context omitted.

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

There's plenty of evidence of this; there are proposals to move house deeds, drivers' licenses, elections, etc. onto the blockchain. These wouldn't be "oh, you can just not participate" sorts of scenarios.

A blockchain is not web3 or crypto.
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