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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

#421

Post by albertopv »

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).…

The fundamental problem of something like web3 is that is totally unrealistic. Imagine someone "posting" something that should be kept private. Can you go back and delete it? No, because the blockchain is immutable, you can try to hide it but it will still be there. Think of porn revenge videos, it would be a nightmare. Another example: I recall a videogame on blockchain that had tons of issues patching it self, again because blockchain is immutable. Also, web3 would really bring democracy to authoritarian states? A country like China with 1.3 billions of people 100% would not improve its democracy situation. That's a lot of people.

Last but not least, almost nobody really cares how web is implemented as far they can browse to their favourite porn site or facebook page or blog or something else.

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

#422

Post by Duckton »

ziml77 wrote: post #408
Duckton wrote: post #364

Earlier quoted context omitted.

I can try, but to be totally clear this is only an idea that I have in my head, and is far from fully formed. But as far as I understand, it should be possible for a user on a blockchain, to have their set of data encrypted in the ledger. It should also be possible to implement a sort of permission scheme. So I am imagining, instead of relying on things like Epic Systems and other EHR systems, that control your data…

The question is not just how do you get existing systems to integrate, it's how do you ensure that everyone uses the same blockchain? Technological solutions don't magically force anyone to agree on things and interoperate.

Yes exactly, that was actually what I meant.

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

#423

Post by option_greek »

endisneigh wrote: post #55
option_greek wrote: post #43

Earlier quoted context omitted.

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.

Most highly valued assets have intrinsic value. The jury isn’t out on real estate surviving a bear market at all. Currently it’s unknown if crypto has intrinsic value. It certainly has extrinsic value, though.

It's not a given that real estate has intrinsic value. Sure properties which are in high demand today will continue to do so tomorrow. But not all properties are like that. You can look at several foreclosed properties in 2008 bubble. Many continue to be in rundown state (both commercial and residential). Because the costs of renovation, taxes, utilities, insurances when included makes the property a losing proposition.

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

#424

Post by ploppyploppy »

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…

Decentralised finance fixes a masive disparity in power.

A global blockchain enables millions of people to access banking services -- globally -- that they are currently shut out of.

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

#425

Post by user-the-name »

HeckFeck wrote: post #420
user-the-name wrote: post #418

Earlier quoted context omitted.

This is what Bitcoin was designed for: > Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cann…

Satoshi mentions later in the paper that BTC is impossible to inflate by design. Inflation enables much of the corruption in our current financial system. "Just print more money bro! ;)" Also, designing a means of transaction that is independent of governments and banks - two of the most corrupt institutions in every society - is surely a deliberate move against them? Finally, the genesis block of Bitcoin specificall…

> Inflation enables much of the corruption in our current financial system. "Just print more money bro! ;)"

Sorry, but this is just plain ignorant libertarian nonsense. If you want to be taken seriously you need to do at least the bare minimum of understanding an issue before making big claims.

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

#426

Post by HeckFeck »

user-the-name wrote: post #425
HeckFeck wrote: post #420

Earlier quoted context omitted.

Satoshi mentions later in the paper that BTC is impossible to inflate by design. Inflation enables much of the corruption in our current financial system. "Just print more money bro! ;)" Also, designing a means of transaction that is independent of governments and banks - two of the most corrupt institutions in every society - is surely a deliberate move against them? Finally, the genesis block of Bitcoin specificall…

> Inflation enables much of the corruption in our current financial system. "Just print more money bro! ;)" Sorry, but this is just plain ignorant libertarian nonsense. If you want to be taken seriously you need to do at least the bare minimum of understanding an issue before making big claims.

I'd strongly disagree there, inflation is terrible for anyone with savings or bills to pay. Libertarianism is based upon Austrian economics, an entire economic school of thought. It isn't "ignorant" even if you don't agree with it.

> If you want to be taken seriously you need to do at least the bare minimum of understanding an issue before making big claims.

OK, so since this is your principle, will you retract your claim that bitcoin wasn't invented to combat corruption? Even if you don't agree with the method or ideology, there is good evidence this was their intention.

And please explain how inflation benefits me, a saver with ever rising bills to pay. I'd be very curious to hear it. Relieve me of my ignorance.

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

#427

Post by user-the-name »

HeckFeck wrote: post #426
user-the-name wrote: post #425

Earlier quoted context omitted.

> Inflation enables much of the corruption in our current financial system. "Just print more money bro! ;)" Sorry, but this is just plain ignorant libertarian nonsense. If you want to be taken seriously you need to do at least the bare minimum of understanding an issue before making big claims.

I'd strongly disagree there, inflation is terrible for anyone with savings or bills to pay. Libertarianism is based upon Austrian economics, an entire economic school of thought. It isn't "ignorant" even if you don't agree with it. > If you want to be taken seriously you need to do at least the bare minimum of understanding an issue before making big claims. OK, so since this is your principle, will you retract your…

1) None of what you just said addresses the claim that inflation "enables much of the corruption in our current financial system".

2) If you have debt, like a lot of people do, inflation means you now have less debt.

3) You have provided zero justification for why "bitcoin was invented to combat corruption", except through your unjustified claim that inflation and corruption are somehow connected.

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

#428

Post by throwawaysysd »

kyruzic wrote: post #406
throwawaysysd wrote: post #403

Earlier quoted context omitted.

I have read countless research papers and press releases and blogs and open source code relating to web3 over the past few years, so if I'm ill informed then it sounds like you're suggesting that pretty much everyone else is also. If there is some secret I'm missing, now is your chance to say it. Please try to make more substantial comments. Thanks.

I don't need to write an essay to point out you are wrong.

If I'm wrong then I'm interested to know why. I'm willing to listen to what you have to say, but you have to actually say something. Thanks.

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

#429

Post by can16358p »

user-the-name wrote: post #417
can16358p wrote: post #232

Earlier quoted context omitted.

Sure many illegal activity goes on on crypto, but as a person who doesn't trust the authorities, I'd still prefer crypto. Lots of illegal activity goes on fiat too, at least I have more control over my assets on crypto.

So you agree it does nothing to address corruption?

I don't. I have much more control over my assets whereas a corrupted government can seize my assets from a bank under their authority.

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

#430

Post by user-the-name »

can16358p wrote: post #429
user-the-name wrote: post #417

Earlier quoted context omitted.

So you agree it does nothing to address corruption?

I don't. I have much more control over my assets whereas a corrupted government can seize my assets from a bank under their authority.

That is not the generally accepted meaning of the word "corruption". You are playing fast and loose with words here.
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