311–320 of 433 posts
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.
Serious question: What problem does web3 or decentralization fix? - Oligopoly of the hyperscalers -> rent server from small provider like ovh/hetzner/netcup (there is plenty). The reason AWS, Azure and GCP are so popular is because people don't care. - Privavy intrusions -> Adblocker/DNS Blocker/Turn off JS/Use browser settings This won't be fixed by web3, ad monetization and tracking won't magically stop. They exist…
Your data being locked up by companies and not to be able to be used by others. Web3 is less centralized in that the user data is exposed and freely available to be composed upon. For example, when someone makes a deposit (say of ERC20 USDC to earn interest, around 3.0% currently) on https://compound.finance , that data is freely available and the "receipt" becomes another token (the ERC20 USDC cToken). [1] This toke…
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That and half the value of Ethereum and Bitcoin evaporated in a matter of days. No one wants "currency" that just up and loses half it's value.
Microsoft has declined 20% since the new year. Should we abandon that company entirely as well? Or what about the VTI (total u.s. stock market index) which has also declined 15%? The truth is crypto currencies such as BTC and ETH are maturing with institutional investment. Their value relative to USD tends to correlate more with the markets and especially tech now.
>> No one wants "currency" that ...
Who uses Microsoft stock as currency?
Saying that you cannot participate is reaching the same level of saying that you cannot participate in the use of the internet. In ten years or so, you'll likely be having to use Bitcoin whether you stand against it now or not. Just as someone that said the internet was a scam or a fad back in 1999-2003 era of the web.
People who are anti-cryptocurrency often like to conflate Bitcoin with all these other scam coins. It's true that all of them are a scam besides bitcoin and that none of them have security or decentralization. There is only Bitcoin. It does not matter what is agreed upon, only the truth matters. Only the math matters. Only code matters.
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.
Advocates evangelize heavily, sure, but will you provide some examples of this? I keep track of the headlines in this space, but I'm not familiar with / haven't experienced what you're describing.
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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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"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.
> Plenty of its advocates very clearly WANT to force people to partake though Advocates evangelize heavily, sure, but will you provide some examples of this? I keep track of the headlines in this space, but I'm not familiar with / haven't experienced what you're describing.
I think that's part of why there's so much backlash from the tech community -- it feels like a small group of people (who largely haven't built much on the web besides React apps) have decided that they get to call what they're working on the new web, even though it's currently mostly vaporware and bad art.
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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.
As long as it's centered around the value of BTC, this is false. BTC has totally failed as a currency and is completely dependent on speculators pushing its valuation up to keep the miners profitable. I'll be willing to concede this point to you if eventually all proof-of-work coins disappear and the BTC maxis go away, and the incentives change to move away from mining and towards providing real services, but I doubt this will ever happen given this was the whole reason the crypto bubble happened in the first place.
Perhaps you want to define web3 in a more vague way like "any web business that uses a merkle tree publicly in some fashion". You can do that but either you're still left with BTC maxis leading the charge on that, or you have to expand it in such a way that the term becomes meaningless because it applies to a lot of unrelated things. Was google a web3 business before anyone knew what that was because they used a merkle tree in google drive, and google drive was public? How about github with their public git repositories? See what I mean here?
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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.
The way it's shaping up, improper or overzealous incentives will be the undoing of the second wave, but that movie has yet to play out.