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I don't think capitalism is going anywhere. "Web3" might succeed but, absent a political fight, only if it can be assimilated into existing capital and power st

• malermeister 5y ago
  I'm not sure you fully got the point I was trying to make. Despite all the claims from crypto advocates about crypto freeing us from existing power structures, I think the truth is actually the opposite. Crypto entrenches existing power structures, where capital = power. You can see that formalized in various decentralized organizations where votes are allocated by token count, or in other words, more capital means more power. Crypto is an effort to preserve the status quo, not to change it. If the "web3" were to succeed, moneyed interests would still be controlling everything, with the only change being that some early crypto adopters would also rise to their level. Crypto advocacy comes down to an attempt to rise to the ruling class by serving it, not to topple it.
  • brightstep 5y ago
    Yes! That's what I've been saying. If crypto succeeds, it will be because it serves capital (what crypto believers refer to as "centralixed authority") not in spite of it.
    • malermeister 5y ago
      Ah! It was I who misunderstood you then. Glad to hear we're on the same page!