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If anything the equity collapse happening in real time and in crypto might allow for the hype to deflate and something valuable to grow. Think of it like the r

If anything the equity collapse happening in real time and in crypto might allow for the hype to deflate and something valuable to grow. Think of it like the regrowth in a forest. Hopefully all the hucksters will be so burnt that they won't touch the space again allowing space for those projects people deem to be valuable to grow. It sounds naive, but maybe thats the way forward. that's my hopefully take

trenchgun 5y ago
That's basically also Tim O'reilly's take. > Keep in mind that it was still early when the dot-com bubble popped. Google Maps hadn’t been invented yet, nor had the iPhone and Android. Online payments were in their infancy. No Twitter or Facebook. No AWS and cloud computing. Most of what we rely on today didn’t yet exist. > I suspect it will be the same for crypto. So much is yet to be created. Let’s focus on the parts of the Web3 vision that aren’t about easy riches, on solving hard problems in trust, identity, and decentralized finance. And above all, let’s focus on the interface between crypto and the real world that people live in, where, as Matthew Yglesias put it when talking about housing inequality, “a society becomes wealthy over time by accumulating a stock of long-lasting capital goods.” If, as Sal Delle Palme argues, Web3 heralds the birth of a new economic system, let’s make it one that increases true wealth—not just paper wealth for those lucky enough to get in early but actual life-changing goods and services that make life better for everyone.” https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/ https://www.oreilly.com/radar/why-its-too-early-to-get-excit... And I tend to agree.
danaris 5y ago
It's had over a decade now for "something valuable to grow". There is still no use case for cryptocurrency (that I've ever heard of) that isn't either done at least as well without it, anarcho-capitalist fantasy, or purely about making money off having more of it.

trenchgun 5y ago

That's basically also Tim O'reilly's take. > Keep in mind that it was still early when the dot-com bubble popped. Google Maps hadn’t been invented yet, nor had the iPhone and Android. Online payments were in their infancy. No Twitter or Facebook. No AWS and cloud computing. Most of what we rely on today didn’t yet exist. > I suspect it will be the same for crypto. So much is yet to be created. Let’s focus on the parts of the Web3 vision that aren’t about easy riches, on solving hard problems in trust, identity, and decentralized finance. And above all, let’s focus on the interface between crypto and the real world that people live in, where, as Matthew Yglesias put it when talking about housing inequality, “a society becomes wealthy over time by accumulating a stock of long-lasting capital goods.” If, as Sal Delle Palme argues, Web3 heralds the birth of a new economic system, let’s make it one that increases true wealth—not just paper wealth for those lucky enough to get in early but actual life-changing goods and services that make life better for everyone.” https://www.oreilly.com/radar/why-its-too-early-to-get-excited-about-web3/ https://www.oreilly.com/radar/why-its-too-early-to-get-excit... And I tend to agree.

danaris 5y ago

It's had over a decade now for "something valuable to grow". There is still no use case for cryptocurrency (that I've ever heard of) that isn't either done at least as well without it, anarcho-capitalist fantasy, or purely about making money off having more of it.