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> Seriously though, can you tell us which Web3 technologies, specifically, are disrupting existing technologies in a way that really benefits the end users inst

> Seriously though, can you tell us which Web3 technologies, specifically, are disrupting existing technologies in a way that really benefits the end users instead of speculators? Distributed systems where you own the data and there's no single point of failure. > That's not how mining works. Layer 2 networks don't reduce the energy consumption of the Layer 1 network. They still produce 1 block every 10 minutes, and they'll continue mining as long as their costs are lower than the combined block reward and transaction fees. I'm not an expert on the mining mechanics, I might be wrong but not due to the reasons you claim, transaction fees will approach zero as more people move into lightning and block reward will keep getting halved.

librish 5y ago
> Distributed systems where you own the data and there's no single point of failure. That's too abstract, can you be more specific? > I'm not an expert on the mining mechanics, I might be wrong but not due to the reasons you claim, transaction fees will approach zero as more people move into lightning and block reward will keep getting halved. Transaction costs could go down but that doesn't change the incentives for the mining itself very much.
- danlugo92 5y ago
  > That's too abstract, can you be more specific? Depends on which technology you'll use, one of them is www.gun.eco For the end user just imagine twitter but you can't get banned nor any comment deleted oh and they also cannot read your private messages.
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da-x 5y ago
> Distributed systems where you own the data and there's no single point of failure. If I encrypt my 1TB of the data I have at home and put the copies on AWS, GCP, and Azure, there's also no single point of failure and I own the data. Still, blockchain is a solution looking for a problem. I can own data without relying on a worldwide self-settling ledger. There's the "shutdown test" for the actual immediate utility value of anything worldwide. If we hypothetically manage to shutdown Bitcoin and all the other blockchains, what would be the overall effect to the world? Some big and small speculators losing assets and no actual loss of value (but less carbon emissions, so maybe increase of value?). On the other hand, shutdown stock exchanges, SWIFT systems, electricity, internet in general - big turmoil.

librish 5y ago

> Distributed systems where you own the data and there's no single point of failure. That's too abstract, can you be more specific? > I'm not an expert on the mining mechanics, I might be wrong but not due to the reasons you claim, transaction fees will approach zero as more people move into lightning and block reward will keep getting halved. Transaction costs could go down but that doesn't change the incentives for the mining itself very much.

danlugo92 5y ago
> That's too abstract, can you be more specific? Depends on which technology you'll use, one of them is www.gun.eco For the end user just imagine twitter but you can't get banned nor any comment deleted oh and they also cannot read your private messages.

deleted 5y ago

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da-x 5y ago

> Distributed systems where you own the data and there's no single point of failure. If I encrypt my 1TB of the data I have at home and put the copies on AWS, GCP, and Azure, there's also no single point of failure and I own the data. Still, blockchain is a solution looking for a problem. I can own data without relying on a worldwide self-settling ledger. There's the "shutdown test" for the actual immediate utility value of anything worldwide. If we hypothetically manage to shutdown Bitcoin and all the other blockchains, what would be the overall effect to the world? Some big and small speculators losing assets and no actual loss of value (but less carbon emissions, so maybe increase of value?). On the other hand, shutdown stock exchanges, SWIFT systems, electricity, internet in general - big turmoil.