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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

#41

Post by Tenoke »

schleck8 wrote: post #10

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…

>What problem does web3 or decentralization fix?

In some cases you can align incentives differently than with traditional solutions. For example with DEXs you can spread the profit and work (such as providing liquidity) to participants rather than a central operator.

It's also easier to prove what mechanism of the operation can and cannot be changed as the code is right there and if you are trading you only have to trust them for just the one function call rather than for holding your funds in their hands longer like with traditional exchanges.

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

#43

Post by option_greek »

endisneigh wrote: post #13

Crypto has only existed during the greatest and longest bull market of all time. Jury is still out on whether it can survive a prolonged bear market. Web3 consequently is also bound by this. If people are still interested in Web3 when crypto goes down 10% YoY forever then maybe there’s some inherent value there.

But then jury is out on whether there will ever be a bear market (or in other words will the central banks ever allow one). Also whether anything else (real estate, stocks or other assets) can survive it.

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

#44

Post by nefitty »

fullshark wrote: post #4

The evidence to support the claim is pretty weak, basically there's some more anti-crypto blogposts and documentaries out. I could easily make an article with the reverse claim and point out the pro-crypto blogposts and documentaries.

Sentiment in online chatter correlates with price movement. It becomes a feedback loop. Maybe the criticism is finally overwhelming people's risk functions.

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

#45

Post by rabuse »

schleck8 wrote: post #10

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…

I believe crypto is a great way to decentralize fundraising for startups/growing companies. Removes the middleman's cut from the equation, and you have no terms to agree to.

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

#46

Post by mistercheph »

duxup wrote: post #21

Help me out here… Does it matter? It feels like most web3 discussion is just discussion and none of the core parts exist at all…. and some folks just threw nfts and crypto currency into the bucket to have something concrete to point to. I don’t have a problem with discussion about meta discussion but I’m also skeptical that it matters/ that this is just meta about meta …. with nobody doing any of this web3 stuff.

A refreshing and fascinating new perspective. I will set my mind to the questions you have put forth.

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

#47

Post by cinntaile »

gspencley wrote: post #32
schleck8 wrote: post #10

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…

The thing that bugs me is that 25 years in the tech industry and I never heard a single person, engineer or business person, ever use the term "web 3." Then one day a few months ago it seemed like a ton of news outlets dropped articles on the exact same day which started using the term. It smells like a made up buzz word that did not originate organically. Someone coined this termed and released a bunch of press rele…

It first appeared in 2014 but it never gained traction. Someone of course marketed the term into public discourse last year, maybe it was a51z. It's not like web 2.0 just organically appeared either.

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

#48

Post by bondarchuk »

gspencley wrote: post #32
schleck8 wrote: post #10

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…

The thing that bugs me is that 25 years in the tech industry and I never heard a single person, engineer or business person, ever use the term "web 3." Then one day a few months ago it seemed like a ton of news outlets dropped articles on the exact same day which started using the term. It smells like a made up buzz word that did not originate organically. Someone coined this termed and released a bunch of press rele…

Maybe it's just me but the only time I see "web 3" is when people/articles on HN are complaining about it.

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

#50

Post by thebean11 »

PaulDavisThe1st wrote: post #26
endisneigh wrote: post #13

Crypto has only existed during the greatest and longest bull market of all time. Jury is still out on whether it can survive a prolonged bear market. Web3 consequently is also bound by this. If people are still interested in Web3 when crypto goes down 10% YoY forever then maybe there’s some inherent value there.

in theory, web3 has nothing to do with cryptocurrency per se, and only relies on some blockchain technology, which is itself not bound to the value of the currency it is used by. however, the fact that too many people seem to think that there is in fact a connection between web3 and crypto currency just adds to the smell.

Currency is actually a core part of it. The point of web3 is software that can natively move money around. That "money" does not need to be ETH or BTC though, can be tokens pegged to the dollar or gold or oil etc.
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