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This is partly correct. Many people indeed thought that buying stuff on the internet was a scam. It was a common joke on TV and on newspapers. Why its partly c

This is partly correct. Many people indeed thought that buying stuff on the internet was a scam. It was a common joke on TV and on newspapers. Why its partly correct is that the internet back then was almost entirely not about buying and selling things at all. It was information. Web3 seems today to be entirely about buying and selling. It seems to have none of the original web ideas about it but has the market at it's very centre. Where are the people on web3? Where are the forums, comments, discussions on the network? They are consumers, participants in a market. That is why it may not be a scam, but it is un-human.

LinuxBender 5y ago
Very much this. I want to talk to the people running the servers. Consensus, Ledger, etc... servers. I want to know who owns what percentage of those servers. I stumbled into this question when watching people go through the development process of implementing blockchain and a few lights came on. It isn't clear to me that web3 could not actually run by the same banking cartels and that they are not just using web3 as a way to side step some regulations, insurance and other protections that have been baked into the banking industry over a long period of battle hardening and mishaps. People speak of blockchain as if distributed encryption makes it impossible for malfeasance but like any implementation of encryption the devil is in the implementation details and can render encryption into obfuscation by math. Coordinated out-of-band communication between the distributed servers could lead to collusion and that is why knowing who runs these servers matters and that is just the first step.