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>is Web3 a real danger to the currently existing web Are cryptocurrencies a real danger to regular currencies? Are NFTs a real danger to tangible items? Are

>is Web3 a real danger to the currently existing web Are cryptocurrencies a real danger to regular currencies? Are NFTs a real danger to tangible items? Are DAOs a real danger to actual corporations? I'd answer all of those questions with a hard NO.

sascha_sl 4y ago
Cryptocurrencies will obviously be forgotten, especially in their current iteration. But the climate and energy impact is not that easy to set aside. The article itself mentions one of the many consequences could be flooding the termination points for underwater sea fiber. So while web3 isn't a threat to the web itself by superseeding it, it's a threat to its existence (and a whole lot of other existences).
- KptMarchewa 4y ago
  Too many fools losing too much money is a threat in itself. https://en.wikipedia.org/wiki/Albanian_Civil_War https://en.wikipedia.org/wiki/Albanian_Civil_War
- toolz 4y ago
  Which metrics would suggest people might forget bitcoin? (much less, make it obvious they will forget about it).
  - guerrilla 4y ago
    The fact that it's all useless.
    - Shish2k 4y ago
      That hasn’t stopped anybody so far - what makes you think it’ll stop people in the future?
    - nobody9999 4y ago
      >The fact that it's all useless. But Bitcoin is definitely not useless. I can use it to buy drugs, guns, child porn and other important commodities.
      - toolz 4y ago
        I don't know what you all are so terrified of, but the false narrative is just silly. I'm not sure what you're trying to achieve, but fiat has continued to dominate the currency of choice for the black market and crypto's illegal transaction volume may even be declining, not increasing https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/ https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal...
        nobody9999 4y ago
        >I don't know what you all are so terrified of, Who is this "you all" to whom you're referring? I'm not "terrified" of cryptocurrency. No, I won't buy guns or child porn with it, but probably drugs. And that's a good thing. >I'm not sure what you're trying to achieve I achieved exactly what I attempted: to reply to the parent[0] of my comment with my thoughts. Do you suspect that I have some nefarious goal to destroy blockchains/cryptocurrencies through tongue-in-cheek replies on HN? If so, that seems a little paranoid. But I don't judge. Please carry on. [0] https://news.ycombinator.com/item?id=31478624 https://news.ycombinator.com/item?id=31478624
        toolz 4y ago
        I'd recommend finding a healthier hobby than making sarcastic comments that could easily be interpreted as an attempt to defraud crypto holders as gun, child porn and drug buyers. How would you like it if you invested in some new asset class and alongside serious accusations of enabling child porn support, people frequently made 'tongue-in-cheek' comments about you supporting (indirectly or otherwise) child porn with your investment? I get it, this is just a deep thread with a one-off comment, not the biggest deal, but it's certainly annoying trying to attempt honest conversation about crypto with comments like this.
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WinstonSmith84 4y ago
Define your time horizon. Currencies will disappear - whether it be in 10 years, 50 or ... let's be ultra-conservative: a few thousands years. The system is rigged by old generations heavily invested in tradfi, but give it a few generations and things will radically change ... which might be arguably irrelevant on your own time horizon, fair enough
eric_cc 4y ago
> Are cryptocurrencies a real danger to regular currencies? Yes, absolutely. > Are NFTs a real danger to tangible items? Are DAOs a real danger to actual corporations? Agree on these - hard no.
- DebtDeflation 4y ago
  >Yes, absolutely. If you mean "digital currencies", then I would be inclined to agree (though it will probably take a lot longer than people think). But existing cryptocurrencies or even future ones built on blockchain and POS/POW? Extremely unlikely.

sascha_sl 4y ago

Cryptocurrencies will obviously be forgotten, especially in their current iteration. But the climate and energy impact is not that easy to set aside. The article itself mentions one of the many consequences could be flooding the termination points for underwater sea fiber. So while web3 isn't a threat to the web itself by superseeding it, it's a threat to its existence (and a whole lot of other existences).

KptMarchewa 4y ago
Too many fools losing too much money is a threat in itself. https://en.wikipedia.org/wiki/Albanian_Civil_War https://en.wikipedia.org/wiki/Albanian_Civil_War
toolz 4y ago
Which metrics would suggest people might forget bitcoin? (much less, make it obvious they will forget about it).
- guerrilla 4y ago
  The fact that it's all useless.
  - Shish2k 4y ago
    That hasn’t stopped anybody so far - what makes you think it’ll stop people in the future?
  - nobody9999 4y ago
    >The fact that it's all useless. But Bitcoin is definitely not useless. I can use it to buy drugs, guns, child porn and other important commodities.
    - toolz 4y ago
      I don't know what you all are so terrified of, but the false narrative is just silly. I'm not sure what you're trying to achieve, but fiat has continued to dominate the currency of choice for the black market and crypto's illegal transaction volume may even be declining, not increasing https://www.forbes.com/sites/haileylennon/2021/01/19/the-false-narrative-of-bitcoins-role-in-illicit-activity/ https://www.forbes.com/sites/haileylennon/2021/01/19/the-fal...
      - nobody9999 4y ago
        >I don't know what you all are so terrified of, Who is this "you all" to whom you're referring? I'm not "terrified" of cryptocurrency. No, I won't buy guns or child porn with it, but probably drugs. And that's a good thing. >I'm not sure what you're trying to achieve I achieved exactly what I attempted: to reply to the parent[0] of my comment with my thoughts. Do you suspect that I have some nefarious goal to destroy blockchains/cryptocurrencies through tongue-in-cheek replies on HN? If so, that seems a little paranoid. But I don't judge. Please carry on. [0] https://news.ycombinator.com/item?id=31478624 https://news.ycombinator.com/item?id=31478624
        toolz 4y ago
        I'd recommend finding a healthier hobby than making sarcastic comments that could easily be interpreted as an attempt to defraud crypto holders as gun, child porn and drug buyers. How would you like it if you invested in some new asset class and alongside serious accusations of enabling child porn support, people frequently made 'tongue-in-cheek' comments about you supporting (indirectly or otherwise) child porn with your investment? I get it, this is just a deep thread with a one-off comment, not the biggest deal, but it's certainly annoying trying to attempt honest conversation about crypto with comments like this.

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WinstonSmith84 4y ago

Define your time horizon. Currencies will disappear - whether it be in 10 years, 50 or ... let's be ultra-conservative: a few thousands years. The system is rigged by old generations heavily invested in tradfi, but give it a few generations and things will radically change ... which might be arguably irrelevant on your own time horizon, fair enough

eric_cc 4y ago

> Are cryptocurrencies a real danger to regular currencies? Yes, absolutely. > Are NFTs a real danger to tangible items? Are DAOs a real danger to actual corporations? Agree on these - hard no.

DebtDeflation 4y ago
>Yes, absolutely. If you mean "digital currencies", then I would be inclined to agree (though it will probably take a lot longer than people think). But existing cryptocurrencies or even future ones built on blockchain and POS/POW? Extremely unlikely.