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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

#391

Post by phyalow »

acdha wrote: post #386
phyalow wrote: post #385

Earlier quoted context omitted.

Im not going to bother filling in the blanks for you. Tangently if you want to start a journey to understanding why the movement away from centralised infrastructure is important (and arguably unavoidable) from a fundamental perspective, go and read one of the primary sources for crypto libertarinism - https://www.amazon.com/Sovereign-Individual-Mastering-Transi... this book was published in 1997 it describes cryptoc…

> Im not going to bother filling in the blanks for you. This seems suspiciously like you are unable to. Note how unusual that is for true innovation — HN is full of posts where people can say they switched to something because it was faster, better, cheaper, etc. If all you have is a book from the previous century which predates those systems existing, that does not speak well for their merits.

Did you even read the summary on Whisper where it compares its use case vs. traditional multicast protocols like UDP? I guess not.

I'm not going to waste my energy further, you are dismissive and closed minded. The prior art you allude to is all from the previous century too, your point?

Frankly I couldnt care less if you dont end up getting "Web3", although it would be a shame for you if you didn't bother to make a concerted effort on your own behalf beyond trite comments.

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

#392

Post by acdha »

phyalow wrote: post #391
acdha wrote: post #386

Earlier quoted context omitted.

> Im not going to bother filling in the blanks for you. This seems suspiciously like you are unable to. Note how unusual that is for true innovation — HN is full of posts where people can say they switched to something because it was faster, better, cheaper, etc. If all you have is a book from the previous century which predates those systems existing, that does not speak well for their merits.

Did you even read the summary on Whisper where it compares its use case vs. traditional multicast protocols like UDP? I guess not. I'm not going to waste my energy further, you are dismissive and closed minded. The prior art you allude to is all from the previous century too, your point? Frankly I couldnt care less if you dont end up getting "Web3", although it would be a shame for you if you didn't bother to make a…

I’ve been trying to be open minded but you haven’t exactly given me much to go on. There have been many P2P protocols over the years, and the only thing which appears to be of interest here is that this one is tightly coupled to the Ethereum network. Since you sold it as a computer science advance I assumed you had some idea of what that was.

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

#393

Post by mdoms »

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).…

Web3 is not above criticism. Advocates want it to dominate the internet, monetary systems and ultimately our lives. It should be criticised within an inch of its life, and if it's all that you say it is then it should rise above it.

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

#394

Post by nightski »

AlexandrB wrote: post #372
nightski wrote: post #305

Earlier quoted context omitted.

Well, inflation is reporting in at 7-9% across the country and getting worse. So that is exactly what is happening and is kind of why the market is in decline right now (and all the things that come with it)...

As I understand, the market is in decline because "The Fed" is trying to tamp down inflation by increasing the price of borrowing money. The fact that this kind of market correction is deemed an acceptable byproduct of countering inflation tells you how seriously the "fiat" economic system treats loss of purchasing power. AFAIK, Bitcoin does not have a mechanism for doing something like this to stabilize the currency…

Yeah, that kind of glosses over all of the action taking over the past 2 years which heavily contributed to the current situation. But even if we ignore that they have a problem on their hands - the two main goals of the fed are currently at fundamental odds with each other. They have been injecting money to achieve maximum employment which is at fundamental odds with price stability. If they raise rates to stabilize prices (which they are definitely doing, potentially more than anticipated), that is going to affect employment. So it's going to be a tough balancing act. There is also no guarantee that raising rates will have the effect they desire. It could stagnate the entire economy.

There is a ton of uncertainty and that is really what is driving the craziness in the markets. Over 97% of my portfolio is in fiat and trust me this makes me very uneasy.

The fact that Bitcoin does not have levers is the appeal to a lot of people.

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

#395

Post by UncleMeat »

heydonovan wrote: post #155
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.

Criminals use dollars, not crypto. You would not want to use a technology whose main selling point is a permanent, public ledger of all transactions.

Is there any ransomware group that doesn't charge in crypto nowadays?

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

#396

Post by caeril »

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

> is that it’s ultimately a high tech pyramid scheme, solving few problems that it didn’t create on it’s own

While you are correct in that most things borne of the blockchain space are scams, it's important to understand that it's not much different from the "technology" of the FAANGs, in terms of the harm principle.

We like to denigrate NFTs and Tether, and slag on the enormous climate and social costs of BTC speculation, while we turn a blind eye to the fact that social media and adtech are fundamentally parasitic and socially destructive technologies that are far worse for the climate, our mental health, and our privacy than an exit scam or an overpriced NFT could ever be

It's fine to criticize this space, but it's particularly funny when this criticism comes from people fully invested in GOOG, FB, NFLX, and SNAP, or who are actively writing code to enable our modern Panopticon.

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

#397

Post by HeckFeck »

boringg wrote: post #370
HeckFeck wrote: post #261

Earlier quoted context omitted.

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…

I'm not saying that -- I am saying that isn't a sufficient reason to support crypto. The costs are greater than the gains if that was the sole function.

My apologies for mistaking your point.

I agree it wouldn't be a sufficient reason, but I think it is a step in the right direction and an illustration of how it enables freedom.

Your wallet is a ten word phrase/a private key. This is something we haven't seen before, money can move just like that. All one needs is internet access.

So yes, totalitarians will have a stranglehold under the current system, but it certainly loosens their grip when we wrest the money supply from their hands.

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

#398

Post by koonsolo »

xtracto wrote: post #329
indymike wrote: post #169

Earlier quoted context omitted.

> 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…

Nahhh it's anti-crypto moving goalposts. First we saw a lot of anti-BTC posts: PoW criticism, usefulness criticism, transactionality criticism and energy use criticism. Then, we got new technology as ETH, that improved on usefulness, now the criticism was about transactionality, "silliness" of use cases, etc. Then, we got uses like Compound, Aave, Golem, etc. And the criticism about energy use and transactionality. T…

I'm 42 and I have the same feeling. It seems this community is filled with conservative people that can't or won't see potential. Critics, not dreamers.

Lately I'm enjoying the indiehackers community, which is way more constructive.

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

#399

Post by kyruzic »

throwawaysysd wrote: post #379
kyruzic wrote: post #355

Earlier quoted context omitted.

You are so misinformed about web3 that you think BTC is in anyway related to web3.

I'm sorry but you don't know me, I've seen lots of BTC/ETH maxis who adopted the term early and continue to use the term to describe their efforts (and it's really not hard to find them doing this on HN and Twitter either) so if you disagree with their assertions and think they're misinformed I suggest you take that up with them and not me.

You made the comment not them, if you don't know about something its best to keep your ill informed opinions to yourself.

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

#400

Post by lkrubner »

fallingknife wrote: post #220
lkrubner wrote: post #153

Earlier quoted context omitted.

"no evidence of this" is too strong of a claim. The folks who argue that fiat currency is dead, or should be dead, are implying they want a world where fiat currency disappears and then cryptocurrency emerges as the replacement. In that scenario, it is correct to say that some people are trying to force crypto on the rest of the world.

That's like saying people who said that the telegraph is dead, and will be replaced by the telephone, were trying to force telephones on people.

Your comment only makes sense if the telegram was run by a government monopoly, since fiat currency is a government monopoly, and then if people were advocating for the government to close its telegram monopoly, then yes, those people could be said to be forcing telephones on people.
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