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Web3 is going just great

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Re: Web3 is going just great

#301

Post by guntars »

ShamelessC wrote: post #291
guntars wrote: post #277

Earlier quoted context omitted.

So you'd rather choose privacy invading ads just because it's technically not a paywall? I'll take microtransactions every time. In fact, I'll argue that the current state of the internet can be directly attributed to content producer's inability to directly monetize their work so they have had to find an indirect way to get paid. Information can be copied almost for free, but it still takes a fixed amount of work to…

Those are decent points. I'll admit to some dormroom philosophizing in my original comment. Moving on: > So you'd rather choose privacy invading ads just because it's technically not a paywall? I'll take microtransactions every time. Surely there is some middle ground there? I find _both_ ends of that spectrum deplorable. At least with the freemium model I can bring my own ad blocker. But no, I don't "choose privacy…

Oh, I'm ashamed to admit that I don't really know what NFTs are, but I was thinking of something along the lines of Patreon. I use it and like it, but it's still a third party that both sides need to sign up with so not everyone's on it and it's not available everywhere due to the limits imposed by traditional banking, among other things. A third party can still host the content and mediate access and charge fees for the service, but it should be working for the creator and not the other way around.

Re: Web3 is going just great

#302

Post by 1ark »

aeonflux wrote: post #30
danlugo92 wrote: post #12

So much FUD daily here against Bitcoin and Web3. Ask yourself, who is the most affected by these 2 technologies existing? Web3 is young still, I'll grant you that, but it will eat the world in 3 to 5 years. Bitcoin is already mature and it's the most democratic type of currency/money/property in the world, how can you argue against that? I hear you about the electricity usage, but Bitcoin Lightning will drive down th…

Some 25 years ago I've read some funny Windows vs Linux arguments. "Windows is better because there is tons of software (Windows 95) and Windows is better, because it is very stable mature system, with Unix-based kernel (NT)". Somehow people missed they tried to merge two systems into one for the sake of argument. Bitcoin is consuming tons of power for no reason, development is stale. Fluctuations and speculation pre…

Bitcoin is consuming power to secure the integrity of the blockchain, that is the reason. It is not "no reason". If you could suggest another permissionless consensus mechanism, then Bitcoiners are open ears, it has been discussed many times at bitcoin-dev.

Bitcoin survived an attack from its own wealthy proponents, miners tried to increase the blocksize for speed, which resulted in the fork Bitcoin Cash. Possibly the number of validators will always outnumber miners.

And the code base is not stale.

https://github.com/bitcoin/bitcoin/commits/master

Re: Web3 is going just great

#303

Post by 1ark »

jimjimjim wrote: post #93
danlugo92 wrote: post #69

Earlier quoted context omitted.

> 10+ mins, overpaying for the fees This is what lightning will fix. > If that is 'web3', C'mon, don't argue in bad faith, Bitcoin is not web3 just like AJAX is not web2.0. Web3 can and should be built atop bitcoin lightning, but bitcoin can exist separately.

> This is what lightning will fix. when?

Correction, fixed. It is already working.

Re: Web3 is going just great

#304

Post by angryasian »

bcrosby95 wrote: post #149
deltarholamda wrote: post #94

Earlier quoted context omitted.

Decentralized proof of ownership is the core merit, as I see it. That has some value, and NFTs are kind of the perfect vehicle to use the technology. But does it have any practical use? That's the question. NFTs are hot right now as an investment vehicle, or as a way for artists to sell unique creations (leading to investment vehicles, I suppose). I'm not sold on the utility, long term.

Decentralized proof of ownership only matters if people with guns think it matters. I saw a short video of Keanu Reeves laughing at NFTs because they had value but are easy to copy. Which I found somewhat funny. Keanu gets paid a lot because he acts in things that have value but are easy to copy (movies). The reason why those have a high value is because of copyright. The people that financed the film have control ov…

not only that but the idea of ownership of a token and the underlying asset have yet to be challenged in court

Re: Web3 is going just great

#305

Post by angryasian »

lawtalkinghuman wrote: post #227
deltarholamda wrote: post #94

Earlier quoted context omitted.

Decentralized proof of ownership is the core merit, as I see it. That has some value, and NFTs are kind of the perfect vehicle to use the technology. But does it have any practical use? That's the question. NFTs are hot right now as an investment vehicle, or as a way for artists to sell unique creations (leading to investment vehicles, I suppose). I'm not sold on the utility, long term.

> Decentralized proof of ownership I mean, the 'ownership' is as real as "buy a plot of land on Mars" scams. An inefficient distributed database filled with assertions of legally unenforceable pseudoproperty rights seems somewhat underwhelming.

well said.

Re: Web3 is going just great

#306

Post by fastball »

acdha wrote: post #188
fastball wrote: post #142

Earlier quoted context omitted.

"web3" was certainly not a popular term before it was popularized by Ethereum / the crypto space. https://trends.google.com/trends/explore?date=all&q=web3

No, the semweb people didn’t make that stick but cryptocurrencies don’t have much to do with the web, either. It’s a different model, tech stack, and culture and that’s what I was referring to.

Given how the primary way you interact with (cryptocurrency) web3 is through web browsers, I think it's pretty silly to say it doesn't have much to do with the web.

Re: Web3 is going just great

#307

Post by koonsolo »

acdha wrote: post #285
koonsolo wrote: post #262

Earlier quoted context omitted.

Funny that it keeps popping up on HN then... multiple times a day.

That's not surprising for a system whose participants won't get their money back unless they can find new people to buy into the system. If you've ever had a relative join an MLM and start posting about the TOTALLY AMAZING products their “business” can sell you, this is very familiar except that you don't even get Target-grade home goods.

Sorry, but I don't see those posts popping up. I only see posts against crypto and web3.

That was my point: complaining about the annoying web3 posts, but they are all negative towards it.

If you don't like it, stop talking about it. But somehow, people on HN really like to complain about web3 all the time.

Re: Web3 is going just great

#308

Post by mavhc »

pvarangot wrote: post #259
mavhc wrote: post #236

Earlier quoted context omitted.

There's no large functioning society without government though, it appears to be the natural stable state. If you want to gather 100,000 of your most random friends and try a new idea though, that's great. But history suggests you'll invent government.

You could have said the same thing but change "without government" to "with electricity" in like 1830 and be right. History doesn't suggest anything, people suggest things, and "it didn't happen yet so it will never happen" is useless as a historical argument. History suggests what the stable state of something is as much as reading tea leafs suggests it.

And all the people who choose to live without electricity are weird.

Many groups have tried to live without government, which have succeeded at scale?

Re: Web3 is going just great

#309

Post by captainmuon »

pcwalton wrote: post #54
DantesKite wrote: post #13

All the Web3 criticisms remind me of my experiences with Star Trek. For context, I never watched Star Trek. I'd read stories about fans and it always struck me as the dorkiest possible show, with unabashed nerdiness making something like the Big Bang Theory look like a sophisticated work of art. But one day, I listened to a podcast about strength training and a question came up about which Star Trek leader the host l…

> It would hard for me to make a case that eventually cryptocurrency will fail. It's easy for me to make that case. Ransomware aside, there's no underlying value in cryptocurrency, unlike currencies which have the full faith and credit of governments. This is a fundamental problem that I see no way around.

Why, there is value in crypocurrency. Maybe not the kind of value society actually wants. Crypto can be redeemed for drugs on the darknet. And you can use it to launder money, or to dirty money (taking your legitimate income and funneling it anonymously somewhere else).

Many cryptocurrencies have been ruled securities. Securities are not "currencies", but still have value, don't they? Even if it is just speculative value (you don't know whether the underlying business is goiong to be successful, or if it is even a scam).

Re: Web3 is going just great

#310

Post by ipaddr »

Yizahi wrote: post #255
ipaddr wrote: post #222

Earlier quoted context omitted.

It can be used for proof of ownership not to be confused with proof of identity because anyone can check the public blockchain to determine that funds sent from account a belongs to whoever setup account a. It allows proof ownership without proof of identity.

No it doesn't allow proof of ownership. Ownership is a set of intellectual rights encoded via laws. NFT can't do anything about IPs or laws, and won't be able in future.

Having a private key provides ownership over an account. That ownership allows you to transfer money. It allows you to accept money.

This is outside of IP or laws. You can move money without laws.

NFT are a differet topic. NFT are a way of having a digital token attached to something that can be used to determine ownership to an account. Do they need to be decentralized? No but it opens up ownership to all not just the approved.

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