The web3 concept that is slowly congealing is an interesting inversion of web 2.0. Back then the idea was "build social websites and figure out the money part later." Today it's "build money stuff and figure out some non-speculative use for it later."https://twitter.com/gponcin/status/1447948308907913218 …
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The real villains to focus on right now are companies like Coinbase and Stripe that are trying to make this connection happen, with one leg in the regulated financial system and one leg in the cesspit of blockchain. They should be regulated into a fine pink mist.
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If there is value in the decade plus of experimentation with blockchains (and I'm bending over backwards here to try to see it) then it will find a way to break through without this Niagara of real money investment. We'll see at least one application that is not self-referential
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Meanwhile, we also have to hack away at the situation that makes decentralized trustless architectures so emotionally appealing to a rising generation of young programmers—an entirely centralized web in the hands of the untrustable.
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For people sufficiently technical to appreciate the deep stupidity of the blockchain, the feeling is like repeating the nightmare of the last decade of politics in the western democracies—why is this obviously ridiculous, unworkable, and toxic set of ideas so hard to discredit?
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For my part, I knew we were doomed when Matt Blaze sold the crypto-dot-com domain. (I say that without casting any aspersions on Matt)
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The world I live in becoming objectively stupid right as I enter middle age is like an extra prank the universe is playing on me.https://www.youtube.com/watch?v=HMqZ2PPOLik …
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I forgot to credit
@qrs in this thread for the concept of "every smart contract is its own bug bounty"https://twitter.com/qrs/status/1395784294451265536 …
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Someone reminded me that "web 2.0" was also eaten by its own boil-the-ocean project, the Semantic Web. But at least no one poured billions of dollars into RDF and ontologies and converting the planet to XML. This time we gave the architecture astronauts access to limitless money
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End of conversation
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