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Why Web3?

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Re: Why Web3?

#331

Post by ThomPete »

unicornmama wrote: post #202
ThomPete wrote: post #197

Earlier quoted context omitted.

The crypto community does what every startup should do. They find the customers before they start building i.e. they build community first and in effect build products. To say that things aren't being build in the crypto community is simply flat out false. It's one of the fastest developing industries and more and more talent are leaving their previous jobs or industries.

Talent is pouring in because free money is gushing out from the mother of all bubbles. Enjoy it while it lasts.

Talent doesn't have problem making money, talent is attracted to interesting problems and id attracting the money. Wonder at what point you will concede that you are wrong about this if 13 years isn't long enough to prove its not a bubble.

Re: Why Web3?

#332

Post by ThomPete »

maybecrypto wrote: post #298
unicornmama wrote: post #202

Earlier quoted context omitted.

Talent is pouring in because free money is gushing out from the mother of all bubbles. Enjoy it while it lasts.

Applies to me - leaving enterprise infrastructure for crypto. I think the tech is mostly useless, but the hype is real, the VC dollars are real. I want to try to capitalize on this.

if you believed it was a bubble you wouldn't leave your current job.

Re: Why Web3?

#333

Post by aquateen »

nfw2 wrote: post #294
aquateen wrote: post #265

Earlier quoted context omitted.

I've been on this website a long time and I suppose the userbase has grown quite a bit. I don't assume everyone has read all of Paul Graham's articles or even know who he is, but are you familiar with how YCombinator works? Enough money to survive on ramen for a few months and build a demo. Get feedback from users and iterate over and over.

I know multiple people personally who have been through YC, and I'm not sure what point you are trying to make. Not every company that goes through YC are at the same stage. I've heard of companies joining YC despite already having over a million in ARR because of how valuable the YC network is. YC invests 125k in each team, which is certainly enough to last more than a few months eating ramen if you are building the…

The point is that YC's model contradicts what you said. It's relatively inexpensive to build an initial version of a product. Build something as quickly as possible, get user feedback, and keep iterating.

I can guarantee you won't find anything Paul Graham has written about doing a bunch of marketing analysis as a first step.

Re: Why Web3?

#334

Post by dools »

There is no Web3 yet.

Web 2.0 was a buzzword created to describe a group of technologies that made web pages behave more like desktop applications, AFTER those technologies had come to prominence.

Web 1.0 was a bunch of communication protocols for publishing network accessible documents.

In both cases, the technology preceded the revenue models, and indeed there are a number of disparate revenue models which publishers and developers choose when creating websites, web applications and mobile applications.

Web3, however, is an attempt to turn the blockchain, which is a revenue model, into a platform to supercede Web 1.0. It is not in the same evolutionary path as the "first 2 webs" (if you could call them that), it's just a PR driven money grab.

Re: Why Web3?

#335

Post by christopherwxyz »

discardedrefuse wrote: post #330

I've been noticing this web3 buzzword picking up steam on here for months now. And it all feels very manufactured (much how metaverse has been co-opted and tainted by Facebook). I suspect this web3 push is just cryptobros shoehorning their schemes into relevance. https://trends.google.com/trends/explore?q=web3 On the other hand, if you're paying attention, you might have noticed a push back to web1 and even older tec…

web3.js is the name of the Ethereum API since 2017.

Re: Why Web3?

#336

Post by FridgeSeal »

akudha wrote: post #325
andreilys wrote: post #273

Earlier quoted context omitted.

DeFi is DOA. Gas fees are insane, "layer 2" is just a diplomatic way of saying "offchain centralization" It may come as a surprise but there are other chains that support DeFi apps and which do not have high gas fees like Ethereum. For example, Avalanche and Solana. Collateralized crypto loans are the equivalent of people taking loans out on their equity position so they don’t have to pay cap gains and don’t need to…

Solana is centralized, no? If a handful of people can shut down the entire network in a few minutes, how is it a strong network? How is it not centralized?

To add to this, are not most blockchains centralised around the core dev team?

The money transfer/bookkeeping system might be decentralised in comparison with standard finance, but it’s no less centralised than a fiat currency, and at least the democratically elected government in my country can 1: be voted out, and 2: employs people who actually understand finance and economics…

Re: Why Web3?

#337

Post by andybak »

jaredsohn wrote: post #292
nfw2 wrote: post #282

Earlier quoted context omitted.

Do digital signatures really make the blockchain obsolete if they fill the same niche? Even if blockchain are technically equivalent to digital signatures, it seems like it has some real advantages from a business perspective: - it is capturing the market of people who want to buy "official" digital assets and is becoming the de facto way to do so - the market is one that should have strong network effects - gaining…

>But I also find sneaker and stamp collectors equally perplexing, People for the most part don't get rich off of stamps. Is more of a hobby than an investment.

I know people who made a decent living from sneaker trading though.

Re: Why Web3?

#338

Post by FridgeSeal »

cercatrova wrote: post #191
indigochill wrote: post #90

Earlier quoted context omitted.

> Decentralized trust could be great, but I wonder how much time actually needs to be spent talking about it vs. actually building it... And the order of operations. Traditionally, you build something great (or an MVP) and market it. The crypto community has been putting the marketing before the building. It's probably uncontroversial to say although cryptocurrency -could- do great things, right now the bulk of trade…

> Traditionally, you build something great (or an MVP) and market it. I don't like the Web3 hype either but generally people say one should market their product first then build it if there's enough demand, through a landing page capturing emails or pre-payments, or other such ways of gauging demand. It just seems that Web3 fanatics took the marketing side too far that they've forgotten they actually have to build a…

I’ve been in a company that did this (market first, build second) and it was an unmitigated disaster, and I never want to go near someone who does that ever again.

Re: Why Web3?

#339

Post by mchusma »

dragonelite wrote: post #318
altdataseller wrote: post #10

This article is filled with absolutely 0 reasons why Web 3.0 should be taken seriously. All it says is: Web 3.0 matters because I say so. And we will prove it, Yes.. and?

It really sounds like the big data, machine learning, AI and enterprise blockchain craze from 5 years ago. Where those things were used for the most stupid things just so the marketing department could put it on a powerpoint slide.

But big data and AI have real usecases. For example AlphaGo, GPT, protein folding, better photography, etc.

Re: Why Web3?

#340

Post by shiohime »

Nav_Panel wrote: post #176
davidhariri wrote: post #84

> Frankly, it is all too much for me. Same. I've been actively unfollowing people on Twitter every day to clean my feeds of it. I'm not anti-web3 or anti-crypto, but I definitely don't need to read the same rhetoric from 100 people a day. Decentralized trust could be great, but I wonder how much time actually needs to be spent talking about it vs. actually building it...

As someone who's out here building a web3 site (and is a heavy twitter user), I agree completely. Most of the twitter talking heads also have no clue what they're talking about, waxing on about grand visions when the first set of pragmatic implications are already here, basically (metamask/web wallet login).

It's honestly difficult to discuss ideas in the space outside of specialized discord channels given how divisive people on social media like twitter have been on the subject. Wallet based authentication is amazingly simple to work with and provides a great developer and end user experience, but you only really hear about it in passing and it gets overshadowed by the noise. Same with using NFTs for novel purposes; you can use them as essentially authz tokens for specialized services. I've been working on an NFT project exploring these concepts and am quite happy with the end results.
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