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No other technology platform has been so denigrated and ridiculed Web3 is very likely to fail because a substantial proportion of both the tech and business sp

No other technology platform has been so denigrated and ridiculed Web3 is very likely to fail because a substantial proportion of both the tech and business space think it’s a load of unnecessary nonsense backed by fraudsters or the gullible who think they can get rich fast and want nothing todo with it.

waste_monk 4y ago
To be fair, it IS a load of unnecessary nonsense backed by latest bandwagon jumpers, fraudsters and the gullible who think they can get rich fast. There's no technical merit to it. > No other technology platform has been so denigrated and ridiculed As far as I am concerned it's entirely deserved. Web3, NFTs, etc. are a cancer and should not exist. It's on the same tier as DRM and pop-up ads.
- MadeThisToReply 4y ago
  "Web3" is just a new label to make it seem like the same old bullshit is somehow novel and revolutionary. First "blockchain" was the future, it was the next big thing, it was a revolution, it was going to change everything, you'd be a fool not to get involved. Sure, there might not be a lot there yet, but it's like the Internet in 1994 - this is only the beginning! If they were still saying the same things about "blockchain" then people would notice that these lofty promises have delivered nothing for ten years. But give it a sexy new name like "Web3" and now it feels new again, even though nothing has changed, and they can continue to entice people in with the same old promises. Sure, Web3 doesn't seem to have produced much yet, but this is only the beginning. It's like the Internet in 1994!
prox 4y ago
Nothing that came out of crypto, nfts or web3 impresses me. I love new tech in general, and I go “that’s nice” a lot, but it feels like problems looking for solutions. The problem is mostly people trying to push it like the “new economy” in the early 00s, just before it crashed.
- hpvic03 4y ago
  Agreed. The way I see it though is it's a solution looking for a problem. "Look, we can build a decentralized database." "Wow, let's try and use this to replace EVERYTHING"... and yet so far it has replaced nothing. The most basic and obvious use cases – a Venmo replacement, a credit card replacement, and sending money across borders – these are all still done the traditional way, and it doesn't seem like that's about to change. I'm hoping to be proven wrong, especially for the credit cards use case. Would be nice if everything cost 3% less. But it doesn't appear to be on the horizon.
  - Nursie 4y ago
    > Would be nice if everything cost 3% less Eh, the fees on cards are a bit of a myth. Not that they don't exist, but their impact. Particularly in IRL transactions. Sure, a cash transaction doesn't cost the merchant 3% straight off, but it does pile on extra banking costs, extra security costs, extra staff time to handle cash etc. But sure, it would be nice to have a cheaper way with similar guarantees for online transactions. The alternative is usually bank transfers, but with those, if you get defrauded it's on you, so I quite like CCs for that. Also in a lot of countries fees are capped way lower than 3%...
Gigachad 4y ago
People have experienced 10 years of scams, overhyped lies, questionable claims, environmental destruction on enormous scale and general bullshit. After a decade of pure negative results and criminal activity, it’s pretty reasonable for the general public to distrust and dislike crypto shills.

waste_monk 4y ago

To be fair, it IS a load of unnecessary nonsense backed by latest bandwagon jumpers, fraudsters and the gullible who think they can get rich fast. There's no technical merit to it. > No other technology platform has been so denigrated and ridiculed As far as I am concerned it's entirely deserved. Web3, NFTs, etc. are a cancer and should not exist. It's on the same tier as DRM and pop-up ads.

MadeThisToReply 4y ago
"Web3" is just a new label to make it seem like the same old bullshit is somehow novel and revolutionary. First "blockchain" was the future, it was the next big thing, it was a revolution, it was going to change everything, you'd be a fool not to get involved. Sure, there might not be a lot there yet, but it's like the Internet in 1994 - this is only the beginning! If they were still saying the same things about "blockchain" then people would notice that these lofty promises have delivered nothing for ten years. But give it a sexy new name like "Web3" and now it feels new again, even though nothing has changed, and they can continue to entice people in with the same old promises. Sure, Web3 doesn't seem to have produced much yet, but this is only the beginning. It's like the Internet in 1994!

prox 4y ago

Nothing that came out of crypto, nfts or web3 impresses me. I love new tech in general, and I go “that’s nice” a lot, but it feels like problems looking for solutions. The problem is mostly people trying to push it like the “new economy” in the early 00s, just before it crashed.

hpvic03 4y ago
Agreed. The way I see it though is it's a solution looking for a problem. "Look, we can build a decentralized database." "Wow, let's try and use this to replace EVERYTHING"... and yet so far it has replaced nothing. The most basic and obvious use cases – a Venmo replacement, a credit card replacement, and sending money across borders – these are all still done the traditional way, and it doesn't seem like that's about to change. I'm hoping to be proven wrong, especially for the credit cards use case. Would be nice if everything cost 3% less. But it doesn't appear to be on the horizon.
- Nursie 4y ago
  > Would be nice if everything cost 3% less Eh, the fees on cards are a bit of a myth. Not that they don't exist, but their impact. Particularly in IRL transactions. Sure, a cash transaction doesn't cost the merchant 3% straight off, but it does pile on extra banking costs, extra security costs, extra staff time to handle cash etc. But sure, it would be nice to have a cheaper way with similar guarantees for online transactions. The alternative is usually bank transfers, but with those, if you get defrauded it's on you, so I quite like CCs for that. Also in a lot of countries fees are capped way lower than 3%...

Gigachad 4y ago

People have experienced 10 years of scams, overhyped lies, questionable claims, environmental destruction on enormous scale and general bullshit. After a decade of pure negative results and criminal activity, it’s pretty reasonable for the general public to distrust and dislike crypto shills.