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Web3 makes a lot of sense to me. The people that got into Bitcoin early are now out and ridiculously rich. Other people also wanted to get rich, but that exac
by jrockway 5y ago
Web3 makes a lot of sense to me. The people that got into Bitcoin early are now out and ridiculously rich. Other people also wanted to get rich, but that exact opportunity feels like it passed (still holding out for my $80 invested in Bitcoin to be worth >$100,000, but I got in kind of late), so people started making their own coins in the hopes of repeating the process. That had mixed success, Etherium (and maybe Dogecoin) did pretty well, but most didn't. The SEC even started cracking down on ICOs.
So, there is a legitimate need for some new business model where you print money and keep most of it for yourself. Web3! I guarantee you someone will get rich from it. That means it worked.
(I'm being a little tongue-in-cheek here. I get the actual idea for cryptocurrency and even NFTs if I squint a little bit, I just think that the hype is from people that think they're going to get rich without doing any actual work. It does happen, but at the end of the day, doing actual work is probably going to be more profitable on average. You're probably too late to the game if you start now intending to be a Web3 trillionaire, anyway. The hype is to get you to buy some of the money you're printing with money that can actually be used to buy mansions. So they can buy some mansions.)
- slowmovintarget 5y agoMaking a Ponzi scheme digital doesn't make it better, it just makes it faster.
- koolba 5y agoThe faster Ponzi schemes run on the newer L2 chains.
- nathias 5y agoare you implying people get rich from doing actual work?
- mmmpop 5y agoMaybe. If the OP were implying that, what would you say to that?
- nathias 5y agoThat it doesn't seem to be generally true, and is incredibly rare... so the real issue seems to be that people outside of the Silicon Valley VC scene can get rich "without doing actual work"?
- mmmpop 5y agoI don't think it's incredibly rare, I've known plenty of people to start with nothing and get "rich", as in, worth enough to retire by 40. Unless your idea of rich is like 7 zeroes.
- nathias 5y agoI'm sure it's possible if you live in a place that pays you much above the costs of living, but such places are very rare and the rest of us are barely keeping up with costs (especially if you are poor and have more costs).
- adampk 5y agoEveryone is hooked on the "get rich quick" highs that have been available for the past 7 years - crypto - meme stocks - NFTs There needs to be another innovation where hype can build around some narrative so people can get rich quick. Web3 has terrific product-market fit.