If someone pitches you on a "great" Web3 project, ask them if it requires buying or selling crypto to do what they say it does. Sources and Further Reading https://web3isgoinggreat.com/ https://tante.cc/2021/12/17/the-third-web/ https://davidgerard.co.uk/blockchain/2021/03/11/nfts-crypto-grifters-try-to-scam-artists-again/ https://amycastor.com/2021/03/14/metakovan-the-mystery-beeple-art-buyer-and-his-nft-defi-scheme/ https://www.stephendiehl.com/blog/crypto-absurd.html https://blog.mollywhite.net/blockchains-are-not-what-they-say/ https://www.motherjones.com/politics/2021/11/who-goes-crypto-eth-bitcoin-etc-financialization-gamestop-class-wealth/ https://twitter.com/davetroy/status/1478017698676228099?s=20 https://davidgolumbia.medium.com/cryptocurrency-is-garbage-so-is-blockchain-3e80078e77fe https://marker.medium.com/fintech-is-a-scam-a-listicle-in-eight-parts-7b6161f3a35a https://naavik.co/business-breakdowns/axie-infinity/#axie-decon= https://www.gawker.com/culture/the-future-is-useless-expensive https://twitter.com/NFTtheft https://www.theatlantic.com/ideas/archive/2021/04/nfts-werent-supposed-end-like/618488/ https://www.gamesindustry.biz/articles/2021-11-05-baseless-nft-hype-hits-a-crescendo-but-its-play-to-earn-thats-worth-watching-opinion https://www.technollama.co.uk/platform-is-law-the-cautionary-tale-of-stolen-nfts https://davidgerard.co.uk/blockchain/2021/02/12/libra-shrugged-chapter-6-banking-the-unbanked/ https://twitter.com/Bitfinexed Written and performed by Dan Olson Crowdfunding: https://www.patreon.com/foldablehuman Twitter: https://twitter.com/FoldableHuman 00:00:00 Preface 00:01:12 0. In 2008 The Economy Collapsed 00:07:09 1. Bitcoin 00:18:18 2. Ethereum 00:24:34 3. The Machine 00:39:07 4. NFTs Exist To Get You To Buy Crypto 00:57:54 5. The Unbearable Cringe Of Crypto 01:11:46 6. A Self-Organizing High Control Group 01:16:57 7. Crypto Reality 01:25:36 8. There Is No Privacy On The Chain 01:32:52 9. If This "Looks Like Scam" Then Every NFT Room I'm In Looks Like Scam LOL 01:38:29 10. Play To Earn Exists To Get You To Buy Crypto 01:46:39 11. We're All Gonna Make It And By "We" I Mean "Us" Not You 01:56:08 12. DAOs Exist To Get You To Buy Crypto 02:13:21 13. I Know It's Rigged, But It's The Only Game In Town

It’s long, but well divided into sections and worth every second of it.

  • wazowski@lemmy.ml
    1·
    3 years ago

    Every problem I have seen distributed consensus blockchains have been so far used for seems to have a solution that does not require such blockchains, which doesn’t have drawbacks associated with such blockchains.

    a solution which doesn’t have some problems associated with blockchains, but introduce their own problems, which do not exist with blockchain space

    for example, you mentioned federated code hosting or social media platforms (like lemme), in this case, you eliminate certain problems exclusive to blockchains, but simultaneously introduce other problems, like more centralisation and potential for censorship (instances in the fediverse are controller by individual ppl, who have virtually complete control over that instance, and these instances are accessed using http and dns, the former of which having little resistance to censorship and the latter being mostly very centralised), which are problems already solved by blockchains

    so once again, it’s a question of what you value more and what’s you’re ready to sacrifice

    • rysiek@szmer.infoOP
      1·
      3 years ago

      for example, you mentioned federated code hosting or social media platforms (like lemme), in this case, you eliminate certain problems exclusive to blockchains, but simultaneously introduce other problems, like more centralisation and potential for censorship (instances in the fediverse are controller by individual ppl, who have virtually complete control over that instance, and these instances are accessed using http and dns, the former of which having little resistance to censorship and the latter being mostly very centralised), which are problems already solved by blockchains

      These problems are not solved by blockchains.

      Between developers pushing updates that users might not necessarily even be aware of or understand the consequences of, proof-of-stake blockchains being open to abuse due to concentration of ownership and thus voting power, proof-of-work blockchains experiencing mining pooling which concentrates effective power in the hands of people who control the pools - centralization of power effectively still remains a problem. It happens differently, on a different level, but it’s far from “solved”.

      And federated solutions might even be more resilient to such secondary centralization simply by virtue of operating on the level of communities built around specific instances instead of the whole network.

      The basic unit of sustainable human life is a village, not a singular human being. That is still surprisingly valid in the digital world. That’s what blockchain people seem to get wrong.