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Nice meme but pls
Any reason why? I also like the templar from path of exile.
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Lol I didn’t even know it was drake, I just thought it was some guy
What’s a Drake?
A drake is a four legged dragon that lacks wings, but that’s not important now.
I think it’s a male duck
It’s like a Tate, but Canadian.
Not defending Drake, but he’s definitely not nearly as mush of a monster as Tate.
Of course not, he’s Canadian.
Maybe same text just laforge format. Fediverce is star trek.
Trying to claim the term “Web3” is a futile battle. It is already widely understood to mean crypto and blockchain. If I see a job posting that says the company is built on Web3, I know immediately that the job is built on scams and grifts without having to ask further questions. Web3 as a term is ruined already.
For this to work it must be a different term than Web3. Maybe “Web 3.0” is different enough?
Time for Web4
I suggest forking Web3 into at least three competing things
as long as they all compete to be the standard, and aren’t going to communicate with each other well, I’m in!
Can Web3-D be unnecessary VR integration?
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Just do what USB does and call it “Web 3 v2”
Web 3 v2 final (1)
Note that not all Web 3 v2 final (1) features are required to be labeled Web 3 v2 final (1). Please consult vendor documentation to determine which features are supported on their device.
Web 3 v2 final (1)++ Remastered Advanced with Knuckles Pro Edition
Is it the Japanese Director’s Cut?
Web69
also Web 3.0 was already a thing (semantic web), cryptobros just stole the term.
Which is pretty much what activitypub is a part of.
“Web x” is dumb marketing speak. It exists because people who use the phrase can’t intelligently talk about the actual underlying technology.
I think it’s useful terminology, but only very generally and in hindsight. Web 1 is a pretty clear era in the 90s and early 2000s, characterized by simple static blogs and personal websites, and email. Everyone knew this would be big, but nobody figured out how, that was the dotcom bubble. Web 2 began with the rise of big tech companies like Google and Facebook in the late 2000s, it has been characterized by social media apps, centralized platforms hosting user created content, funded by targeted advertising and data mining. Web apps became possible and smartphones took over. Every product became a subscription service.
I think we’re at the start of web 3, but it’s hard to say what that is yet. The big tech companies are crumbling and there’s increasing unrest at the old system of web 2. Fed up users are turning to platforms like this. There’s a lot of demand for crypto nonsense like NFTs. AI is changing the way we do everything.
I hope that web 3 is the age of decentralization because that would be awesome, but it’s impossible to predict the future.
Abusing terminology, especially by marketers, is frustrating and cringe. But don’t underestimate the value in having a simple, shared term to describe a paradigm many things fit into.
Web3 usually means it’s decentralized. So yes, in most cases it’s cryptocurrencies
But most cryptocurrencies aren’t decentralized!
What? That’s the whole point of crypto currencies.
Not the scams, which are most cryptocurrencies.
Or perhaps Web 3.1. But seriously, I would call it the Federated Web.
The FedWeb
The Feb
Can’t quite put my finger on it but something about this doesn’t sit right with me
Feds Web
Web 3.1 for Workgroups?
It’s not a bad idea but federated is the term they’re using to tell everybody not to get off reddit because it’s too confusing.
I think whatever name you give it they’re going to try to sell it as being too confusing.
You could call it distributed web but they’ll taint that as soon as you stick it in front of them
Blockchain and crypto are both decentralized, which is exactly what Web3 is defined as. Just because they came before federated websites doesn’t mean the definition is exclusive to them. I would call “Web3” ruined, rather I would say that ActivityPub is the first great implementation of it.
PS: The distinction between Web 3 and Web 3.0 is giving me some real USB 3.2 Gen 1 vibes.
Web 3.0 was the semantic web.
Dumbass lemmy.world hot takes
Bro how you going to insult a whole instance
Edit: oh I see why, you’re butt hurt about getting defederated.
They’re not defederated, only specific communities are blacklisted from syncing on lemmy.world.
If they were, they wouldn’t be able to post in any lemmy.world communities or even comment on any posts of lemmy.world.
All very good points, I should probably finish my coffee
Lemmy.world is the normie us-centric lemmy server
…and?
Normie land is reddit. If you can’t think critically then best leave
How about you shut the fuck up, Edge Lord, And leave other people to do their own thing? Gatekeeping Lemmy is not critically thinking.
Web3 is a game changer. Try to escape the bubble of info you’re consuming on these pro imperialist instances
I mean lemmy.world does actually kinda suck. They block piracy communities, don’t know a shit about cyber security and can’t keep their servers online for more than a day before they go down. The only reason why people use lemmy.world is because they want to avoid lemmy.ml.
There’s several reason i dont use my lemmy.world login much at all anymore. But when I was there, it was because it was supposed to be “the right instance for me” according to the info I had access to. I knew nothing about all this lemmy/federated stuff (my only federation experience was with star trek… and federated architectural 3d modelling coordination programs like Revit/BIM360). So i joined the “right instance for me” and guess what? it kinda sucked. but it was frustrating. I just wanted things to work, but there was drama over hexbear and others, and half the time the servers were being ddos’d. So i jumped ship to lemmy.zip and discuss.online as a backup. Could just have easily been me this user was insulting, a few days ago. Insulting me would not have pushed me closer to switching instances, it would have just convinced me further that this place is just as, if not more toxic than reddit. I didn’t vote to de-federate hexbear, or any of the other recent de-federations related to piracy (insert legit argument about server hosted content vs. US law), and I was still trying to get my bearings.
Just because lemmy.world does “kinda suck” doesn’t mean we should berate their users, thats antithetic to the entire idea of federated communities interconnecting this way.
If Reddit can host a piracy community, why can’t lemmy.world do it? I made an account the day lemmy.world defederated with that community. After I noticed that I immediately deleted my account and switched to sh.itjust.works and lemm.ee is there as a backup. But you’re right, we shouldn’t hate on innocent lemmy.world users who don’t know any better. It’s not their fault that the admins are such morons.
reddit.com is Reddit.Inc. with investors and lawyers and content curators and admins galore etc.
Lemmy.world is idk some guy named ruud in a basement with servers or something idk. The point is they aren’t equivalent resource pools to protect them from legal issues.
Right, but AFAIK he hasn’t even received any legal complaints. He could have done nothing, and only defederate when some shitty media company complains.
Hey, it has so many uses. I can’t name a good one that isn’t actively being made a scam, but so many uses. Wave of the future. Buy crypto, trust me.
“Is not about the technology, it’s about the money.”
How about Fweb or Feb?
Web Cubed
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I mean… We are getting to a point where die off of a good chunk of the World-Wide Web due to bad actors and drying-up ad revenue isn’t implausible. The Web is only one part of the Internet.
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but how do I give someone .0045 cents for no apparent reason??
Don’t forget the 40 dollar transaction fee
The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
As long as you have a channel with that person preconfigured and funded right? Otherwise you need to do an on chain transaction with on chain fees to set up that sub one cent transaction.
Shhhh, don’t point out how there has to be a large pool of the currency sitting in someone’s account and that the person often disappears with it all or spends it. That upsets their narrative. No regulation or oversite is GOOD.
This is absurd. It is impossible for anyone to disappear with the money, nothing like this has or even can happen. Please post any source even claiming this. I am baffled that it would even cross your mind to even make such an absurd claim. Please post a source.
Here’s the most widely known and published case:
Supposedly she’s dead now but who knows. The current biggest news scam is the FTX shit. That was a crypto exchange. They stole like a billion dollars. Is it better because he didn’t disappear after fleeing to the Bahamas?
This is what I love about you crypto techbros. You just claim everything that doesn’t support your beliefs isn’t real. Please invest all your retirement savings into digital currencies. You’ll show us.
You misunderstood what was being discussed completely, we were talking about the technical side of the lightning network, not whether or not people kill each other for money. Yes, absolutely people murder each other to take what they want, but believe it or not this happens with every currency in the world and happened even before currency existed. I can’t even imagine what must go through the head of someone to think that murder/theft is something that bitcoin introduced to the world.
No. I have opened up exactly 1 channel with 1 other person years ago, and it was done automatically when I installed the app. Since then I have been able to send and receive bitcoin to anyone I’ve wanted to instantly and for a miniscule fraction of the amount that I have sent. I am really surprised, I had no idea that so much misinformation was being passed around amongst people who have never even decided to try it themselves or even look into it deeply at all.
It’s also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
It’s also centralized
Nothing about lightning is centralized, unless you think bitcoin itself is centralized.
https://www.reddit.com/r/btc/comments/s3tvox/is_lightning_network_decentralized_why/
Great explanation by someone who isn’t a maximalists. Sorry but yes it is.
Haha. Fees are high and it’s impossible to open a channel because of that? That’s beyond stupid…
No, it’s centered around large nodes, that’s the point they’re making.
Over 50% of the network’s capacity in the hands of 5 entities?
https://www.reddit.com/r/btc/comments/vo86ki/over_half_of_all_lightning_network_capacity_is/
Shit’s decentralized as fuck yo!
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies… One move and the Chinese government had control over the network.
#decentralization
This is absurd. Anyone who has the slightest idea of how it works knows that it is in no way centralized. It isn’t hard to learn how it works.
Everyone who believed this was true lost a lot of money betting on Bitcoin Cash.
Oh and show me people who bought Bitcoin in early 2021 that haven’t lost cash please.
Man, why is every one of your comments just wrong?
01.01.2021: 23902
today: 26143
Oh sorry if I don’t keep up to date to the daily movement of Bitcoin… I mean, I wouldn’t have because it’s a store of value and the basic principle of a store of value is the ability to use it and be guaranteed to have what you put in or close to it…
Cherry picking, look at a log chart
So is saying that everyone who bought Bitcoin cash lost money considering today isn’t all time low.
It’s not as if I was here to defend Bitcoin cash, I’m here to point out that Bitcoin and lighting network is flawed though.
At least Bitcoin cash stayed true to the goal of Bitcoin. A peer-to-peer electronic cash system.
That was also untrue. Electronic cash doesn’t imply no/low transaction fees. Basically everything they told you was a lie.
Show me where in the whitepaper does it mentions storing value, please.
No/low transaction fees and ease of transaction is the main point of cash vs barter, Bitcoin abandoned that, now you have to go through the trouble of using level 2 to have small fees and quick transactions, what’s the point of Bitcoin then?
Monero transaction fees goes brrrrrrrrrrr
It’s less than 10 cents
GNU Taler. Ah, question was rhetorical :)
Really wish Taler to be available for use in the first country.
Me too, I really like the concept, also have demo-purchased by app with it. Hope it will become usable reality at some point.
This could be so awesome for electric scooters or anything tradicionally having coin insert.
Even if/when GNU Taler launches, somehow I don’t think the VC-backed app scooter companies are going to be adopting anonymous payments anytime soon.
I also think IPFS (non filecoin version) could prove useful in the future as well.
A post mentioning IPFS that hasn’t been downvoted into the mantle? I’m impressed.
It seems that most people don’t have any idea that it’s not reliant upon blockchain.
Somebody asked the other day about hosting websites on cell phones. I mentioned that IPFS would be just about perfect for that and everyone got out their pitchforks.
What’s IPFS in layman’s terms? The Wikipedia is hard for me to follow lol
I don’t know the details (checked it out once, before crypto integration), but it’s like bittorrent. You seed your own files, people who download and keep the files also seed. I think I once tried out a prototype decentralized (crypto) ebay-like app, and all images were “hosted” on IPFS. (So, once the app downloaded the product image, it seeded it to other clients).
I believe all files are hashed, and something like DHT is used to lookup files by hash id.
basically like bittorrent but the entire network is just one swarm and blocks are deduplicated and everyone keeps the stuff they accessed for a while so peers near to them can fetch it from them
it also has a dht, a pubsub like system for fast message propagation and changeable content and is built to be future proof on the protocol level (everything is modular and self describing and can be swapped out)
oh and also everything can link to everything by its CID (content identifier)
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IPFS is great, but also so difficult to get it right
Agreed, I’m building a p2p search engine for it
I’m already using it, but just for notes so there aren’t any measurable improvements over the traditional methods. It’s still cool to see it work though.
it’s insulting to consider cryptocurrency or blockchain as any kind of next generation thing
… keep being insulted by reality, then?
To me it feels like how 3D tvs were. Cool tech but not enough people hopping on board to make it mainstream so it stagnates and fizzles out. I could be wrong of course
Oh, yes. Good luck preserving the value you spent your life creating in your cash/fiat money while the printer goes brrrr. When bank bail-in happens to bail out the rich, I’ll be laughing my *** off. I bet you don’t even know what bail-in means. It basically means the banks will take your money to bail themselves out, like Cyprus in 2010s. It’s the plan if a crisis happens. Read about it.
Also, I hope you enjoy the social credit system after Central Bank Digital Currency becomes a normal thing, and then be cut off the financial system for being a “bad boy” with a press of a button. Today Nigel Farage is the bad boy, tomorrow it’s you (but you’re good boy, aren’t you?).
Your corrupt politicians can’t pry my cryptocurrency out of me even if they wanted to. They won’t even know how much I have. I can, on spot, drop everything and leave to a new country when things get bad (they never do, now do they? I gotta stop with the conspiracies… things are perfect)
Chickens will come home to roost. I guess we all pay for our decisions after all. That’s what life is about. That’s why I care not when people lose their life savings because they trust governments. They chose that.
Your corrupt politicians can’t pry my cryptocurrency out of me even if they wanted to.
All they need is a $5 wrench lol
Especially funny since to be usable you need to exchange it or buy it you need standard currency (unless you mine it), meaning you are back to square one
You mean a $5000 wrench. The government can’t appropriate a wrench for just $5.
I ain’t reading allat
Monero is an ok cyrptocurrency because its not designed to make you money. Its designed to launder money and buy illegal things. Its useful if youre trans and live in Florida where hormones will be illegal.
Anyone who thinks crypto will replace money is high. The problem with capitalism isnt money. You cant fix it by inventing different money.
Of course you won’t… why would you? Enjoy being a poor slave. That’s what you guys do. Never read.
sorry what are you saying? I can only see googoogaga repeated a bunch
I feel like maybe you could have been more hostile. Why dont you try again, and really let it out this time!
Crypto bros love to bring up CBDC, like we don’t have a centralized banking system with credit cards already lol. I wonder if you’re libertarian!
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Until it comes tax season and you’re not rich to hide it
So tax fraud?
Noooooooooo, you can’t like things that can evade stupid and needless monetization!
I hate the term Web3, the name itself feels like gaslighting. It tries to imply like it’s the next step for the web. It’s just grifting and is absolutely impractical lol.
Notice how Web3 blew up because of insane VC money, then suddenly dies what feels like overnight. They didn’t care about decentralization, otherwise they’d actually invest in non Blockchain bullshit. But then they can’t scam with crypto coins.
Because it fucking gaslighting. I remember having this WTF moment when I was reading the O’Reilly Ethereum programming book.
If web 2 was html 5 and css3, how does a protocol that relies solely on money being transacted make the basis of web3?
This sounds exactly like a VC plot. “There will be money exchanged on every transaction”. I bet they lost their minds in the pitch room when they heard it.
VC’s are where the hype is, all those AI companies will disappear too when the AI hype dies.
And that’s the circle of silicon valley. AI with last longer though, it has actual practical applications and already is generating a ton of money. It’ll start to die down once more people realize that its hallucinations kill a lot of its applications, which we’ll need another technology breakthrough for that. It’s a problem that’s possible to solve though. I just hope for the collapse of OpenAI.
Certainly, that’s why I said AI hype. Machine learning is already invaluable in many fields. Its ability to generate new content, is certainly not flawless, but already has some uses. I just hope that the hype dies down and companies stop putting pointless and flawed AI integration in their products to please investors.
Look at me is federated and decentralized
I am the web3 now
Don’t forget about nfts there the future man they can’t be replicated man where can you spend 100k and by the end of the week your investment is worh $3.50
Where you spend 100k for a JPEG
The JPEG isn’t even on the blockchain for the majority of NFTs. It’s just a URL to a JPEG on a server someone else owns. If they take down the server, sell it, it gets hacked, the url scheme changes, etc someone is now the proud owner of a broken link lol
It’s just a URL
If that’s the case it makes it even more surprising anyone would see any value in that.
Its not a jpeg man its an nft it uses blockchain man it can’t be replicated its totally the future now let me plug in 50 gpus I got to start mining
Its not a jpeg man its an nft it uses blockchain man it can’t be replicated its totally the future
It’s funny you say this because in the near future once blockchain usage becomes more mainstream, you’re going to see NFT tech used for things like concert tickets, sporting events, movie tickets etc… because they can’t be counterfeited and produced at a fraction of the cost of traditional tickets. As long as the NFT sits in your crypto wallet, you’re granted access to the event.
People tend to forget how much the original web was plagued with scams and such, or maybe some are too young to even know much about it… Crypto is new and will take some time before it matures. But I believe decentralization is the future and is one of the reasons I’m on Lemmy.
I dislike this take to much.
First of all, crypto doesn’t protect you from scams, just look around you.
If you get ‘one true crypto’, you get locked in by its architecture, and there’s always someone who controls said architecture. The chain is decentralized, but the core is not.
Also, tickets are controlled almost exclusively by a central authority, which owns the venues, so there is no way in hell they will let you keep a ledger of every purchase of every ticket. It’s better for them to keep it concealed.
There is so much bullshit in the crypto hype, it’s almost funny.
If you want to put crypto anywhere, do the stock market first, and then get back to me.
I never claimed made a claim that it protected you from scams. I said it can’t be counterfeited.
I really don’t want a “one true crypto”. I think different blockchains can serve different purposes.
And as far as ticketing goes, yes the centralized authority (let’s say Disney for example) would set a max amount of tickets (nfts) to be sold/minted and they would be distributed to wallets as they are sold. Nobody else would have a way to alter or counterfeit fake tickets.
I can totally understand all the hate for crypto though. I mean… I’m a gamer and bought my graphics card during the peak of crypto mining. Was I happy? Hell no. I had a deep hate for crypto at the time… But I decided to dig deeper into what the rage was about. Using actual crypto wallets and interacting with Dapps was quite eye opening to what the future web could be like.
But I’m also with you that crypto needs some form of regulation, but imo crypto and stocks are not the same. If anything NFTs would be more like stocks/shares.
One of the biggest hurdles, like you’ve mentioned, is that a good portion of the space is full of ponzis/scams. But there are a handful out there who truly care and are trying to pave the way and build up a new way to interact with others. I assure you there’s more to it than just scams and jpeg trading. It can be pretty neat when you see what’s possible.
Sorry to take up so much of your time with my second ramble but you raised some good points. Cheers
I said it can’t be counterfeited.
Lmao how big a problem are counterfeit tickets? Because Ticketek seems pretty happy with what they are currently doing.
Sorry to burst your bubble but crypto & NFTs are never going mainstream. They are already past the peak, and failed spectacularly.
Never said it was a problem… Just saying its a better solution. That’s okay though… Saving this comment and will tag you during the next crypto bull run when the hype is back 😘
You need to teach people how to verify that their purchase for not counterfeited. Since the bar is not techological, and never will be.
We had way back when a ‘web of trust’, that actually solved a lot more problems than crypto ever did. But people never understood it, so it never got mainstream adoption.
If you don’t know a thing about stock market then it makes sense you could suggest NFTs for it, but you can actually divide shares into fractions.
I merely use nfts as an example because they are closer to what a stock would be than a coin itself. They are not the same though. I was not making that claim.
Possible but I really don’t see how nfts are any better than the current digital tickets system
Totally fair. I just see at as one of the many uses that are possible. Let’s day you couldn’t make it to an event and wanted to sell your ticket. It would be pretty easy to get the other users wallet address and make the exchange. Also, not all blockchains have high transaction fees. On the Solana network, for example, you can make the exchange for a fraction of a cent. It would cost you roughly. $0.0021 to make the trade.
I’m curious about this use case. It actually sounds pretty convenient, but it also sounds like a wet dream for scalpers since it makes it so easy to buy a bunch and resell for insane prices. On one hand, the price someone is willing to pay is the true value, so you could argue that the original seller wasn’t charging enough. But on the other hand, if scalpers buy up all the supply then they’re artificially increasing the price. I don’t really know anything about economics, I’m just guessing.
In the traditional world of tickets, you could hypothetically prevent reselling by tying a ticket to a person’s id (not that anybody does this, but you could). But in the nft world you described where you can resell your ticket, is there any solution to prevent scalping?
Honestly, right now it’s like the wild west. The markets need a form of regulation. For that reason, I’d never recommend anyone get into nft trading without some serious research put into it. But as the space evolves, there will likely be thing put in place to solve this issue.
Also wanted to say I also very much appreciate your response. Most here have decided to attack me instead of actually holding an intellectual conversation. Hope you have a great day!
…is there any solution to prevent scalping?
Built-in price ceiling and verifiability. Resales could be limited or completely forbidden as well.
Crypto isn’t new. Bitcoin’s initial release was in 2009. Two versions of MS Windows have been released and EOL’d since then. Five Star Wars films have been written, filmed and released since then. Intel released all 13 generations of their Core i# processors since then.
Allow me to clarify… Crypto itself isn’t new… But the way in which we interact with it is new. All sorts of platforms, metaverses, etc… are still being developed through the bear market. These things take time to develop. Also, crypto usage is not exactly used by everyone right now, so I respectfully disagree with you.
NFTs weren’t created to be the proof of ownership of digital art, they just happen to be associated with that because that’s what the majority of them were created for.
The NFT isn’t the art that can be copy-pasted to any computer, it’s the proof of ownership. Criticizing them by saying “I can just download a copy of the picture!” is like saying copyrights are useless because you can use tools to rip movies from streaming services, sure you “own a copy”, it doesn’t make you a rightful owner of it from the perspective of the law.
NFT’s also don’t implicitly make you the rightfull owner. The basketball NFT’s content still explicitly belongs to the seller. The only true way for NFT’s to work for digital content is to have a contract that specifically states that the NFT proves ownership, but you might as well write it directly in the contract at that point.
This specifically depends on the project producing the NFTs. Some grant full ownership while some do not.
That’s his point - NFTs don’t actually solve any problem here, they just add an extra step.
I fail to understand your point. What extra step? You either get ownership or you don’t based on the asset you’ve acquired. NFTs don’t have alto be a once size fits all kind of thing. You are just oversimplifying it. The same can work for physical objects that you purchase. Vehicle manufacturers make it to where you can’t service your own vehicle sometimes because of special tools needed… So do you really own it? Hmmmm
I buy a picture from you, I get a receipt proving I bought it.
I buy a picture from you on an NFT marketplace, I get an NFT proving I bought it.
What value does an NFT provide in this case? I guess it provides a better proof of the purchase but that hardly seems worth the effort of setting up a wallet and acquiring crypto (for the average person at least). Not to mention the seller also needs to do these things, and I fail to see how he will benefit in this case.
Maybe in a hypothetical world where everyone uses crypto this will make more sense.
I’ll just use a small example… Let’s say you have an NFT for a online casino project. Simply holding the nft in your wallet will give you a weekly payout (certain percentage of profits for that week/month)
I use this example because nfts can have many different uses. Another would be gated communities/gated access to online services. Hope that helps it make sense a little
I buy a picture from you on an NFT marketplace, I get an NFT proving I bought it. What value does an NFT provide in this case?
In this case, assuming you’re a trader in this example, you’d be banking on whatever art you purchased to gain further value so you can then sell your certificate of ownership and make a profit. This is no different than art sales/trades IRL. Here’s an art gallery owner discussing using NFTs as certificates of ownership for real world art sales and the added benefits over traditional COOs.
But there worthless because digital art is intrinsically less valuable than real art
Real art = analog art? I need to tell all of my electronic musician buddies.
How? Please elaborate.
A real piece of art will always be more valuable than some electronic picture
No, I asked that you elaborate, not that you repeat the same thing using different words.
The intrinsic value of any art is what someone is willing to pay for it.
For example the world’s most expensive NFT, The Merge by Pak, sold for $91.8 million. Its price was higher than the sale of Jeff Koon’s Rabbit, the most expensive artwork by a living artist at auction. It’s all about personal tastes and how deep folks wanna dig in their pockets with this stuff.
Thats insane stupid people with more money than brains
I call it web3.0++ its web3.0 after the concussion wore off.
Web 3.1, this time with realistic use cases!
I’m gonna wait for Web 3.11 For Workgroups.
Nah, we renamed Web 3.0 to Web 3.2 Gen 1 to be less confusing, you’re thinking of Web 3.2 Gen 2.
USB standards has entered the room.
Or web 3.0 minus. As in minus that libertarian bullshit.
I would see that crypto and blockchain scam as more like the last breath of Web2, given the monetization thing
No. Web2 is about user generated content (as opposed to the static pages of Web1) - crapto stuff hardly fits the bill. Like it or not, it really does belong to Web3 - which is about decentralization.
Now that’s a definition I can get behind.
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The web was always decentralized though. In fact Web 3 brought more centralization. Everything is in the cloud now, which is really just two or three main data center operators. That’s my techno luddite take.
If Federation/Decentralization could be combined with decentralized crypto currency payments through something like Monero in a way that is not a scam, it would actually be great. We need some kind of monetization model for the Federated Web, and crypto currencies are actually great for that purpose but so far all implementations of this haven’t really worked or were just a scam.
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Why are Miners a problem? You need people who mine the crypto and then sell it to you, cryptos with a pre-mined supply are garbage. The problem is not with the miners, cryptos like BTC or ETH that can be mined with ASICs are the root of the problem. The only crypto currency I consider legitimate is Monero (XMR) because its RandomX algorithm makes it resistant to ASICs and GPUs. It is meant to be mined with a CPU, and only CPU-mining is efficient and economically viable. (Although in the Monero community, we don’t mine Monero for the money, we do it to support the decentralized system) XMR has the core idea that 1 CPU = 1 vote on the blockchain. Everyone has a device with a CPU, thus everyone can mine. ASIC-powered mining farms in China (which are often the ASIC factories themselves) don’t have an advantage over regular users, as it should be.
Why do you need mining or artificial scarcity at all? Yes, CPU mining is more ‘efficient’, but what is the point? And why are all (as far as I can tell) crypto currencies deflationary? It encourages hoarding rather than spending and investment which can be economically devestating. Maybe that doesn’t matter for black market usage, but there are many crypto supporters who see it as the future of actual currency.
BTW Monero is like the one crypto I find kinda interesting, due to the privacy aspects.
Because that’s how the blockchain works. Without validation (which is what Mining does) anyone could just claim they have e.g. 1 million XMR when they have zero. Because you don’t have a central authority in crypto currencies, you need some other mechanism which verifies that transactions are legitimate. That mechanism is a whole bunch of complex math, or in other terms, Mining (in the context of crypto currency). Glad you like XMR though.
Not all cryptocurrencies are deflationary. Yes the deflationary model encourages holding/discourages spending however for some projects this is a desired outcome based on the utility the coin/token is aiming to provide.
Additionally deflationary crypto can act as a hedge against inflation, hyperinflation, and stagflation. The decreasing supply can counteract inflationary pressure caused by externalities like government policies and economic shake ups.
I think any hedge against inflation is countered by the extreme volatility most of them suffer from.
Which cryptos are non-deflating BTW?
cryptos like BTC or ETH that can be mined with ASICs
ETH moved to proof of stake, no more POW mining needed.
Federation was we 1.0 people forget all major chatting services used to be integrated. You could have a yahoo im show up on your aim chatbox.
Holy cow
Wait until you hear about XMPP (and it’s bridges).
