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I think Crypto is a bunch of things to a bunch of people. Some see it as a fun way to make a quick buck, some see it as an alternative to gold in a time with u
by swalsh 5y ago
I think Crypto is a bunch of things to a bunch of people. Some see it as a fun way to make a quick buck, some see it as an alternative to gold in a time with unusual inflation of the dollar.
I see it as the future of the web. There's a lot of energy coming around the concept of Decentralized Apps. or Web 3.0, today we have web 2.0 with large centralized websites ran by huge tech monopolies. Regardless of your political affiliation, you probably dislike them. Though the exact reason you hate this is probably different.
Web 3.0 offers us a way out... and crypto is one of the critical underlying infrastrcuture components. A lot of people see things this way, and are trying to get in early on it. Chances are the markets will crash before the majority of people understand what web 3.0 is. But while the market is down, a lot of cool stuff is going to be built, and when more people start to discover it again, the market will shoot back up. This cycle happens every time we make progress. Of course, the markets are pretty amateurish right now so we also tend to overshoot it, leading to huge bull markets and big crashes.
- mohanmcgeek 5y agoEven if we assume cryptocurrencies have some role to play in the future dWeb, wouldn't that be the new currencies created by those dWeb services and not these ones being hyped right now?
- DennisP 5y agoEthereum's ENS works pretty well as a dWeb name service.
- mohanmcgeek 5y agoThis sounds like inventing a problem for a solution you already have. IPFS content addressing, .onion sites all work without any need for cryptocurrencies.
- DennisP 5y agoThe point of ENS is to map human-readable names to the addresses. It's a solution to Zooko's Triangle[1], and while it's not the only solution, the others use similar technology. [1] https://en.wikipedia.org/wiki/Zooko%27s_triangle https://en.wikipedia.org/wiki/Zooko%27s_triangle
- deleted 5y ago[deleted]
- tata71 5y agoStatistically all of new tokens are Ethereum tokens. Could just buy & ride ETH to the end.
- mohanmcgeek 5y agoHow does this work? You mean to say dweb creators more often than not _choose_ to use eth instead of their own tokens?
- kryptk 5y agoThey chose their own tokens but those tokens are valued in ETH at the end of the day.