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Are we wrong about Web3?

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Re: Are we wrong about Web3?

#51

Post by newbamboo »

root_axis wrote: post #41

I'm going to reprise a comment of mine that I posted on a similar HN article some time ago. Over the years I've witnessed a lot of heated debates on HN... Is the JS ecosystem actually too complex? Is PHP really a fractal of bad design? Is learning vim worth the effort or is it all hype? Is golang fundamentally broken because it lacks(lacked) generics? Does anyone ever actually need k8s? Is nosql always the wrong choi…

And completely ignore increasing talk of official state backed digital currencies which will be the Orwellian horror that results from all this crypto froth.

Re: Are we wrong about Web3?

#52

Post by srhngpr »

CloudDeltaNine wrote: post #25

Web3 is a Pyramid scheme for people who get hyped from just hearing the word 'blockchain' but who don't have any technical understanding of how one computer actually communicates to another computer. Web3 scammers insert meaningless hand-wavy-techno-babble homophone phrases like 'Layer 1', 'off-chain', and 'decentralized' to hook FOMO VC into buying into vaporware. Web3 is literally not a real thing. If you want real…

Couldn't have said this any better.

>to hook FOMO VC into buying into vaporware.

I would just add that it is not just VCs but also everyday people expecting to get "rich" overnight that buy into the FOMO.

Re: Are we wrong about Web3?

#53

Post by mountainofdeath »

root_axis wrote: post #41

I'm going to reprise a comment of mine that I posted on a similar HN article some time ago. Over the years I've witnessed a lot of heated debates on HN... Is the JS ecosystem actually too complex? Is PHP really a fractal of bad design? Is learning vim worth the effort or is it all hype? Is golang fundamentally broken because it lacks(lacked) generics? Does anyone ever actually need k8s? Is nosql always the wrong choi…

Part of what makes cryptocurrency so alluring is its (current) Wild West, little to no rules, nature. Those very things will scare aware the masses until things stabilize at which point we return to the current state of things perhaps with some modest differences.

People forget that the current financial system is a product of thousands of years of evolution and many hard lessons learned.

Web 3.0 (as VCs see it) is a solution looking for a problem. I get a late-90s dotcom-era feeling from it. People saying what it takes to raise money and throwing a technical solution at what often isn't one.

Re: Are we wrong about Web3?

#54

Post by spicybright »

cmckn wrote: post #9

This is poorly written; words and punctuation are missing all over the place. I don’t understand the git analogy at all. > If we’re extending the definition of web3 to include decentralized software systems We certainly aren’t. Web3 is defined by “trustless” decentralized systems (which usually aren’t actually decentralized, in practice). Branding a database as “Web3” is terrible PR, given web3’s reputation for obsce…

I still don't really get what web3 actually means. It seems like the new "cloud" when describing software.

Re: Are we wrong about Web3?

#55

Post by kyle-rb »

jrm4 wrote: post #34

Genuine question: How stoppable is "Web3?" Which may be to say -- what is more likely: All the big money idiots come to their senses, or "Web3" definitely happens in some form that has some, but not all, of the stupid weeded out of it? This is probably a million dollar question, no?

Eventually the big money idiots find a new flavor of the month, probably after a few more web3 projects get hacked for $600,000,000.

Re: Are we wrong about Web3?

#56

Post by cuteboy19 »

jrm4 wrote: post #34

Genuine question: How stoppable is "Web3?" Which may be to say -- what is more likely: All the big money idiots come to their senses, or "Web3" definitely happens in some form that has some, but not all, of the stupid weeded out of it? This is probably a million dollar question, no?

Big money will probably at least break even. It's your average person throwing their money at the shitcoin of the week who will be left holding the bag. There is no hope for those people unfortunately

Re: Are we wrong about Web3?

#57

Post by babyshake »

mcdonje wrote: post #31
danielvaughn wrote: post #16

Earlier quoted context omitted.

Yep. My first job in tech was with a platform that promised a "Web 2.0" experience that was centered around drag-and-drop. Take a wild guess as to whether they're still around...

There was a lot of web 2.0 hype around the late 90s / early aughts. Lots of companies that tried to cash in on a trend without a solid business model. That said, the situation was appreciably different to now. Web 2.0, as I understand it, was about increasing interactivity so websites aren't all static, which has the possibility of being beneficial to end users. Web 3.0, as I understand it, is crypto-nonsense.

A lot of Web 2 was about APIs and widgets. Widgets for the most part haven't taken off as some predicted although APIs are very widely used. However, the very open vision of Web2 never fully materialized.

Re: Are we wrong about Web3?

#58

Post by babyshake »

na85 wrote: post #32

I have a new personal policy: I don't read anything that refers to "blockchain" the way Apple refers to "iPhone". I don't know what the term for it is but they always do it. "With iPhone, you can enjoy being smug and superior in 8K!" Anyways as soon as I see that sort of corporate newspeak I immediately close the tab. It makes me a lot happier.

"With very slow database, you can...."

Re: Are we wrong about Web3?

#59

Post by pcthrowaway »

PaulHoule wrote: post #20
onion2k wrote: post #14

web3 definitely could be as successful as git if you remove the payments side of it. Without payments web3 starts to look like an interesting and useful idea. Ownership of content, federation between platforms, trustless publishing, etc are concepts the web lacks, and that could definitely be interesting to layer on top of the web. Adding payments into the mix kills it like every other microtransaction protocol thoug…

The payments are fundamental to it. Ted Nelson described the Xanadu system in the 1970s which anticipated the web, he recognized a need for creators to get paid and planned to have a micropayments system built in. Practically the web got advertising instead and then the patron and subscription models but somebody could make the case we need something better. Web3 has the particular horror that simple calculations tha…

> It not only fries the planet

Just to point out, "Web3" usually is talking about smart contract executions; All the smart contract platforms I know of are (or will soon be) proof of stake, so no burning the planet required

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