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You Don't Own Web3

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Re: You Don't Own Web3

#41

Post by mark_l_watson »

RamblingCTO wrote: post #34
NoraCodes wrote: post #31

Web 3.0 means embedded semantic metadata and has since 2012. This nonsense can fuck off. :) https://en.wikipedia.org/wiki/Semantic_Web

This tech never really took off and is a stillbirth.

I wish I could disagree with you. Of my four last jobs, two were semantic web/knowledge graph and two have been deep learning. I get more satisfaction from ML/deep learning work.

That said, from a knowledge representation perspective, I love the idea of knowledge graphs, and sometimes they do have real efficacy.

Re: You Don't Own Web3

#42

Post by shatteredgate »

satyrnein wrote: post #40
RamblingCTO wrote: post #36

I don't understand how you can't see blockchain/crypto as a growing tech where they might succeed, evolve and grow into the promises that contributors hope for. Why are most people taking a stance either in the crypto bro corner or in the "I can't buy popcorn with it, mah energy hurr durr" corner? The internet wasn't perfect from day one. How about seeing what sticks, what evolves, what problems are being worked on?…

I think the "wait and see" crowd just doesn't comment as much, because they have no strong assertions to make (yet).

I used to be a "wait and see" person until I actually took a hard and critical look at a lot of things in the crypto space. It seems evident now that most of it is just poor reinventions of existing financial services, and in some cases (NFTs) just abject scams.

Re: You Don't Own Web3

#43

Post by vmception »

RamblingCTO wrote: post #36

I don't understand how you can't see blockchain/crypto as a growing tech where they might succeed, evolve and grow into the promises that contributors hope for. Why are most people taking a stance either in the crypto bro corner or in the "I can't buy popcorn with it, mah energy hurr durr" corner? The internet wasn't perfect from day one. How about seeing what sticks, what evolves, what problems are being worked on?…

People also miss how much money they can make... actually helping those things reach their promises!

It's like, how can a person working at a Web 2.0 nation destabilizing ad conglomerate really lob criticism at the people trying?

Re: You Don't Own Web3

#44

Post by vmception »

rvz wrote: post #16
jjordan wrote: post #3

Jack is what we lovingly refer to as a Bitcoin maximalist. They are unmoved by innovations that happen outside of the Bitcoin project and tend to call everything that isn't Bitcoin centralized garbage.

There you go. Ethereum maximalists will do anything to pump their investments up by screeching 'web3', 'NFTs' and 'DAOs' and Bitcoin maximalists will also do the same thing. Well I ask both of these maxis, can I use either of them to pay for my groceries quickly, efficiently and cheaply without overpaying for the fees and using a complicated contraptions? If it still doesn't make sense to buy popcorn with bitcoin [0]…

You use stablecoins like Magic Internet Money (MIM), which is linguistic re-appropriation of words or artifacts that were previously used in a way disparaging of entire crypto payment group.

Re: You Don't Own Web3

#45

Post by vmception »

laputan_machine wrote: post #20

Can someone explain to me what even "Web3" means? It seems like a nonsense buzzword. I mean "Web 2.0" meant ajax, right? And even then it's a silly difference to make, like calling every new addition to the ECMAscript standard a new version of the web...

its mostly talking about how its a platform to build uncensorable products. that's the primary distinction that web3 associated platforms offer.

think of it like Shopify apps - the SaaS products that developers try to sell to merchants to make some part of the merchant's life easier. Those developers are just trying to make money.

web3 offers a similar kind of platform that isn't dependent on Shopify continuing to care. there are many things to make easier and it is incredibly lucrative to do so.

the "decentralized" part is just a distraction to derail conversations, but degrees of decentralization are optional.

Re: You Don't Own Web3

#46

Post by bko »

malermeister wrote: post #25
bko wrote: post #19

Earlier quoted context omitted.

> But there is no such thing as a killer feature that can't be done better with what we have When someone figures out how to custody financial assets on the blockchain (e.g. stocks, bonds, etc), then you can create exchanges that aren't regulated and are open 24-7. You can also create contracts that mimic synthetic derivatives. Sure you may not like the idea but you don't have to use those exchanges. And sure things…

That sounds exactly like > "wE aWe vEWy close to bweakthrough" as described by parent.

No, it's just some legal entity that is bound by law to hold those securities in a trust that is legally owned by the contract. This is how stable coins work, although tether holds assets not necessarily the underlying currency. But other stable coins hold 1:1 reserves based on the currency they're meant to track.

Its centralized sure, the company could f up or commit fraud but there would likely be best standards and multiple options.

Re: You Don't Own Web3

#47

Post by wbsss4412 »

RamblingCTO wrote: post #36

I don't understand how you can't see blockchain/crypto as a growing tech where they might succeed, evolve and grow into the promises that contributors hope for. Why are most people taking a stance either in the crypto bro corner or in the "I can't buy popcorn with it, mah energy hurr durr" corner? The internet wasn't perfect from day one. How about seeing what sticks, what evolves, what problems are being worked on?…

I think the ideas and the technology are interesting, but it’s really difficult for me to extract that from the fact that the loudest faction of supporters out there just treat it as a get rich quick scheme.

Re: You Don't Own Web3

#48

Post by cableshaft »

rvz wrote: post #37
cableshaft wrote: post #28

Earlier quoted context omitted.

Most cryptocurrencies failing is not an argument against them. Most startups fail too (90% in 2019 according to Investopedia[1]). Does that mean no one should invest in, work on, or give a chance to any startups? [1]: https://www.investopedia.com/articles/personal-finance/04091...

> Most cryptocurrencies failing is not an argument against them. My whole comment already implies utility in cryptocurrencies - directly towards payments and towards the parent especially if cryptocurrency regulations were to come in the long term. (with examples) Tons of other cryptocurrencies are going to fail once regulations arrive and realistically, those that have no serious use-case in general other than being…

I guess we're not actually in disagreement then.

Re: You Don't Own Web3

#49

Post by rvz »

RamblingCTO wrote: post #35
rvz wrote: post #16

Earlier quoted context omitted.

There you go. Ethereum maximalists will do anything to pump their investments up by screeching 'web3', 'NFTs' and 'DAOs' and Bitcoin maximalists will also do the same thing. Well I ask both of these maxis, can I use either of them to pay for my groceries quickly, efficiently and cheaply without overpaying for the fees and using a complicated contraptions? If it still doesn't make sense to buy popcorn with bitcoin [0]…

Arguing that Ethereum is a currency is just a straw man and you know it.

Have you just admitted that my comment has upset you, knowing that it is true so that you jumped hastefully into the comments section to type in some nonsense without fully reading the article? So AMC is not accepting Ethereum to pay for popcorn then?

Well done for inventing and distorting claims to cover that you still haven't finished reading the article [0]

[0] https://ambcrypto.com/is-it-really-ideal-to-buy-popcorn-with...

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