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Here’s what I’ve observed recently in this space. - What really astonishes me, is that for each and every one of these ideas there is probably a VC funded comp
by ramoz 4y ago
Here’s what I’ve observed recently in this space.
- What really astonishes me, is that for each and every one of these ideas there is probably a VC funded company or group of individuals working to build the thing.
- anyone in web3 is working for hype and for funding. Bunch of clout chasers. If you can make the thing sound good, you win. Your shitty GitHub repo is mostly ignored; as is your ability to integrate with the real world.
- No one is working for actual market share of anything meaningful because there is no real market for any of this crap.caveat-
- The only actual market that exists is a self-feeding one, so you have startups building dev tools or doing things like recreating web2 data systems on web3 in horrid/obscure ways.
Overall it seems like a big fun money scheme. A few privileged and/or greedy individuals chase some hackers pipe-dream, convince a bunch of young fools to join & build for them, and then a bunch of idiots to fund them/pump their token.
EDIT: while I’m knocking current state, I believe in a lot of the ideals of decentralization and expanded uses of cryptography. I’m investing a lot of time & effort in understanding what could possibly be meaningful. I really, really struggle with the noise in current state.
- api 4y agoThe noise and scams and bullshit is deeply harmful to anyone attempting to do anything real. If you are doing something real you’re spending all your time doing something real. If you are pumping hot air you’re spending all your time pumping hot air. Guess what wins in this environment. Real stuff can barely be noticed.
- bitxbitxbitcoin 4y agoThe bootstrapped web3 projects don’t get as much hype. So much noise but there is proper signal out there! Your comment really captures the fatigue I see in the industry and near it.
- api 4y agoCan you link some?
- hunterhod 4y agoI’m hoping real companies will emerge out of the deflation that we’re currently seeing in the space. I personally know quite a few folks who have been scammed in one way or another via crypto, but I still hold out for the future state. I think all this noise just needs to fall away.
- wslh 4y agoWe should separate the chaff from the wheat. b̵l̵o̵c̵k̵c̵h̵a̵i̵n̵ Web3 brought a lot of bad actors. In the worst scenario (after Web3 will just disappear or be like BitTorrent is to streaming services) we can think in technologies that enables coopetition between different actors. IMHO one of the core issues that brings a lot of confusion is confusing trust or trustless with decentralization: just adding thousands of unknown nodes to a technology doesn't bring more trust that adding thousand of known nodes with real world liabilities. In a way Web3 is selling that we can reinvent democracy but at the end we find the same issues that we have with institutions, just shifting a little bit the power.
- D13Fd 4y agoBeyond all that, what happened with SBF & co shows that even the better-sounding crypto projects may eventually involve criminal liability for some of those involved.