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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I've had cryptocurrency fanatics tell me that it will work in the long term *because* it is a religion. I instantly thought of some sort of Stross/Lovecraft god of dark finance, with tendrils inside the minds of its adherents. They thought this was a good thing, of course.
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The utopian true believer "financial chestburster" types are pretty much entirely understood as a synthesis of Cyphernomicon, LessWrong and Mises. They certainly exist(ed), but I'm not sure they really shape the narrative much anymore.
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I know that this is false because I know many people who don't fit that. Folks who are far more socialist than libertarian, and not of the rationalist movement. I disagree with them, but I think you're underestimating the breadth of the appeal. Especially amongst hackers.
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I'm usually great at looking at a new technology and coming up with cool new things that it will let me build. "web3" has me completely defeated - maybe I'm lacking the imagination, but I think it's more that the new things it enables fail spectacularly to align with my interests
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I've seen a lot of bubbles come and go in our field too, and there's usually a kernel of something real left behind after deflation. With this I truly don't see anything but gambling, crime, or at best a reg-arb'd poor simulacrum of what already exists in traditional banking.

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I' d say there's a blind trust in free markets behind this. I was reading recently this interview with Tim May, one of the founders of the cypherpunks list, and he was so disappointed that their ideas had only lead to get rich quick schemes and not an anarchocapitalist utopia.
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Their anarchocapitalist utopia is kind of a hellscape though. The Cyphernomicon is full of terrible things like murdermarts and private militias etc.
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It’s fair to say that the smart people who push crypto share a strong libertarian streak. Anything that might escape the clutches of government is worth pursuing to them.
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Is web3 communism?
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I'm not anybody special, but I'm happy to talk about my personal view of why these developments are important, interesting, and ultimately valuable. DMs are open, and I've written a good bit about what I'm personally trying to achieve at https://aftok.com/guide-foundation.html …
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