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> You've lost probably more than 10% of your own buying power over the last year at no fault of your own, and you never questioned it. The housing market is now

> You've lost probably more than 10% of your own buying power over the last year at no fault of your own, and you never questioned it. The housing market is now impossible for average people to enter (especially in cities), as easy, low interest money has inflated home values and the house price to income ratio has gone steadily up and to the right. These are real pain points, and part of why I was very excited about crypto circa 2017-2018. It's been five years now, and the builders in the web3 community seem to have stagnated on this, taking a wide tangent into digital art, online clout, and ponzi schemes. The currencies themselves are limited on transaction throughput and trade like traditional risk assets, level 2 networks haven't lived up to their initial hype, and we have come to find that decentralized, immutable currencies are problematic to work with in many situations. From my viewpoint, it doesn't look like crypto's going to break us out of the local maximum that is central banking/MMT

scottiebarnes 4y ago
> the builders in the web3 community seem to have stagnated on this From my perspective, there is no "web3" community. The consequence of easy money is you get a lot of bad products that inevitably fail. This is not limited to crypto, this is the tech industry in general (social networking, big data, social commerce, location based social, etc.). Groupon, Google Wave, Foursquare, delivery service X, etc, they come and go. So I don't put much stock into the hype, there will always be fads and trends. > level 2 networks haven't lived up to their initial hype https://bitcoinvisuals.com/ln-capacity https://bitcoinvisuals.com/ln-capacity Lightning capacity is up and to the right: this is people running nodes, risking their money on beta software. Nodes are up, channels are up. Will this be it? Who knows. I'm a patient person, laying a railway cross country takes time.
Comevius 4y ago
This so much. Those are indeed massive pain points, but the solution to them turned out to be a lie.
mattdesl 4y ago
> level 2 networks haven't lived up to their initial hype Have you tried any recent ones? zkSync, Optimism, Aztec. Although they are still a work in progress; see EIP 4844 and zkEVM. Check back in a year or two if you want to avoid beta-testing and have something that meets the hype.

scottiebarnes 4y ago

> the builders in the web3 community seem to have stagnated on this From my perspective, there is no "web3" community. The consequence of easy money is you get a lot of bad products that inevitably fail. This is not limited to crypto, this is the tech industry in general (social networking, big data, social commerce, location based social, etc.). Groupon, Google Wave, Foursquare, delivery service X, etc, they come and go. So I don't put much stock into the hype, there will always be fads and trends. > level 2 networks haven't lived up to their initial hype https://bitcoinvisuals.com/ln-capacity https://bitcoinvisuals.com/ln-capacity Lightning capacity is up and to the right: this is people running nodes, risking their money on beta software. Nodes are up, channels are up. Will this be it? Who knows. I'm a patient person, laying a railway cross country takes time.

Comevius 4y ago

This so much. Those are indeed massive pain points, but the solution to them turned out to be a lie.

mattdesl 4y ago

> level 2 networks haven't lived up to their initial hype Have you tried any recent ones? zkSync, Optimism, Aztec. Although they are still a work in progress; see EIP 4844 and zkEVM. Check back in a year or two if you want to avoid beta-testing and have something that meets the hype.