What's a succinct definition for Web3/3.0/etc that I can tell my mother in law in 20 secs? I don't actually know what it's meant to be.
You own your identity instead of Google, Facebook, and Apple.
I do that right now without any web3 stuff.
Web3 – An Arrogant and Treacherous Successor Doomed to Fail
261–267 of 267 posts
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#262Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#263Earlier 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. ... 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…
That’s not how it works. If you pay it off in the month you pay $0. Maybe don’t be so confident.
> If you pay it off in the month you pay $0.
How many people have the financial discipline or the financial education? Banks are making a truckload of money on that not being the case.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#264Earlier quoted context omitted.
That's the protocol working exactly as it's designed. Everything was transparently visible. Anyone could see where the funds were at any given point, what the liquidation price was, and what the total liabilities were. If you ride a fast motorcycle and fall off because you were speeding, it's not really the fault of the motorcycle, is it?
Interesting metaphor you chose. Yes, it is the fault of the motorcycle. You can "fall off" a motorcycle because of the design of a motorcycle, and it's something that doesn't happen with a car. Cars have risks when speeding as well, but they're different, and lesser, because of the protections afford by the car itself. It's like you're subtly trying to highlight how terrible crypto is, but not realizing it. Let's exp…
> It's like you're subtly trying to highlight how terrible crypto is, but not realizing it.
If we're equating motorcylces to crypto, then as a motorcycle rider, I can assure you that motorcycles are amzing, not terrible.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#265Earlier quoted context omitted.
That’s not how it works. If you pay it off in the month you pay $0. Maybe don’t be so confident.
> If you pay it off in the month you pay $0. How many people have the financial discipline or the financial education? Banks are making a truckload of money on that not being the case.
You’re comparing to debit cards where there is no float at all. You were mistaken in your first post. Just go with it.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#266Earlier quoted context omitted.
A so-called 'smart contract' is not a replacement for a contract. Just because you call something a contract doesn't mean it is. The same applies to 'decentralised finance'. It's not finance unless it can do financing, and defi can't.
my dude, do you always evaluate things for what they are rather than what they could be?
Mostly yeah. Otherwise we get issues like neoliberalism.
Re: Web3 – An Arrogant and Treacherous Successor Doomed to Fail
#267Earlier quoted context omitted.
> capitalism is in its late stages and government bailouts won't keep it floating forever. It's funny to see this critique pop up in various places completely unaware of the fact that capitalism has more or less been dead since the 1940s. The Great Depression was the end of them as a dominating cultural force and they've been replaced by a managed-everything; a management class. So when you speak of capitalism only e…
yea, that's fair. I know that money hasn't been real since we got off the gold standard, I'm just hella socialist and take any chance I can get to take pot shots at the state of today's economy to further my narrative. Free market economy is the only way I see us cooperating on a global scale though, its hard to imagine otherwise - that's why I support Bitcoin
This post is super weird even if from a temp account.
How are you socialist? You’re talking about the free market. Most likely you’re a modern right wing libertarian.