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I think it's really easy to be doubtful about web3, especially given how much BS is floating in the space, and the high amount of pure speculative trades having

I think it's really easy to be doubtful about web3, especially given how much BS is floating in the space, and the high amount of pure speculative trades having been made so far. I still believe that there's something there, but I'm not sure what it is. I am also unsure that the current wave of companies will be able to find it. The different between the early adoption of web2 and this current web3 cycle is that web2 brought a proper value to its users. I still fail to see how web3 is providing value at all. Perhaps specific aspects of crypto (e.g. NFT used for real estate transactions) will be the killer app?

cinntaile 5y ago
In many countries real estate transactions are validated by a notary elite that has a lot of political clout. Technical superiority is not even a factor here.
- NationalPark 5y ago
  Which countries?
PragmaticPulp 5y ago
> Perhaps specific aspects of crypto (e.g. NFT used for real estate transactions) will be the killer app? I consider myself to be very good at security, offsite encrypted backups, managing private keys, and other opsec details. But there's no way I'd ever want the ownership of my house or cars or other property controlled by an NFT. If something happens to my private keys, am I stuck with the house forever? If my private keys are stolen, does someone else suddenly own my house because they have the NFT? In a hypothetical world where NFTs were the token of real estate ownership, governments would simply step in and make sets of laws to override and re-issue the NFTs according to legal outcomes. They would store the overrides and other information in a centralized database that they control, and everyone would be bound to respect the overrides in the centralized database. So the NFT becomes a gimmick.
- kurttheviking 5y ago
  > But there's no way I'd ever want the ownership of my house or cars or other property controlled by an NFT. +1. My dad died in 2015 and the lawyer who held his Will had apparently gone out of business in the early 00s. I spent a lot of time in the probate courts but was eventually able to gain access to the assets so I could clear the estate, settle his debts, and put him to rest. Arbitrated reversibility and sanctioned transfer of title is a feature, not a bug...I feel that point often gets lost in the web3 debates.

cinntaile 5y ago

In many countries real estate transactions are validated by a notary elite that has a lot of political clout. Technical superiority is not even a factor here.

NationalPark 5y ago
Which countries?

PragmaticPulp 5y ago

> Perhaps specific aspects of crypto (e.g. NFT used for real estate transactions) will be the killer app? I consider myself to be very good at security, offsite encrypted backups, managing private keys, and other opsec details. But there's no way I'd ever want the ownership of my house or cars or other property controlled by an NFT. If something happens to my private keys, am I stuck with the house forever? If my private keys are stolen, does someone else suddenly own my house because they have the NFT? In a hypothetical world where NFTs were the token of real estate ownership, governments would simply step in and make sets of laws to override and re-issue the NFTs according to legal outcomes. They would store the overrides and other information in a centralized database that they control, and everyone would be bound to respect the overrides in the centralized database. So the NFT becomes a gimmick.

kurttheviking 5y ago
> But there's no way I'd ever want the ownership of my house or cars or other property controlled by an NFT. +1. My dad died in 2015 and the lawyer who held his Will had apparently gone out of business in the early 00s. I spent a lot of time in the probate courts but was eventually able to gain access to the assets so I could clear the estate, settle his debts, and put him to rest. Arbitrated reversibility and sanctioned transfer of title is a feature, not a bug...I feel that point often gets lost in the web3 debates.