4 ms·

In practice, everything is indirectly tied to making more money 100x your "investment" in a blink of an eye. If the entire crypto/defi/nft/gamefi/play2earn etc

In practice, everything is indirectly tied to making more money 100x your "investment" in a blink of an eye. If the entire crypto/defi/nft/gamefi/play2earn etc marketcap was 0 then nobody would even bother with interacting/developing with web3. In-fact, nobody would even be interested in blockchain tech.

capableweb 5y ago
Why are you assuming that just because something doesn't involve money, people wouldn't be interested in it? Music creation is for most people just a hobby, with zero financial incentives to engage in, yet countless amount of people make music as a hobby and release it for free via various channels. Same goes for software with free/open source software. Not to talk about BitTorrent (or it's predecessors in the P2P space) where people had the opinion of "sharing is caring" and shared data with each other, again with zero financial incentives. How do you reconcile these facts with your outlook?
- acdha 5y ago
  > Why are you assuming that just because something doesn't involve money, people wouldn't be interested in it? Because random hashes are not inherently interesting to most people and the core concept is built around an opinionated finance model. The only value to the blockchain network is in the ability to make transactions, and that's why all of the push around it is very heavy-handed FOMO “buy now or you'll have to pay more later” which is a sharp contrast to previous new technologies which focused on what new things you could do.
- danaris 5y ago
  But cryptocurrency has no value or meaning if it's not worth money. That's not true of those other things.
- AlexandrB 5y ago
  I'm sure that some people would continue to run crypto nodes if it was not profitable, but the number of people doing so would drop precipitously. There's a huge portion of the crypto community (90%? 95%?) that are in it for the ROI and speculative gambling, not for running a decentralized web. As an example, I suspect no one would buy old power plants and turn them into Bitcoin miners if there was no return on investment. The operating costs of this kind of infrastructure are too high to justify as a "hobby".

capableweb 5y ago

Why are you assuming that just because something doesn't involve money, people wouldn't be interested in it? Music creation is for most people just a hobby, with zero financial incentives to engage in, yet countless amount of people make music as a hobby and release it for free via various channels. Same goes for software with free/open source software. Not to talk about BitTorrent (or it's predecessors in the P2P space) where people had the opinion of "sharing is caring" and shared data with each other, again with zero financial incentives. How do you reconcile these facts with your outlook?

acdha 5y ago
> Why are you assuming that just because something doesn't involve money, people wouldn't be interested in it? Because random hashes are not inherently interesting to most people and the core concept is built around an opinionated finance model. The only value to the blockchain network is in the ability to make transactions, and that's why all of the push around it is very heavy-handed FOMO “buy now or you'll have to pay more later” which is a sharp contrast to previous new technologies which focused on what new things you could do.
danaris 5y ago
But cryptocurrency has no value or meaning if it's not worth money. That's not true of those other things.
AlexandrB 5y ago
I'm sure that some people would continue to run crypto nodes if it was not profitable, but the number of people doing so would drop precipitously. There's a huge portion of the crypto community (90%? 95%?) that are in it for the ROI and speculative gambling, not for running a decentralized web. As an example, I suspect no one would buy old power plants and turn them into Bitcoin miners if there was no return on investment. The operating costs of this kind of infrastructure are too high to justify as a "hobby".