There are three non-fraud foundational problems with "web3": 1. No way to reference anything in the real world (oracle problem) 2. Immutable code makes any smart contract its own bug bounty. 3. Everything breaks (more) unless expensive distributed systems are run in perpetuity.
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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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Fun fact: as a software engineer is "senior" at 5 years work experience, and that joke aired in an episode in late 1993, they are about the same age.
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OMG, exactly this - it injects that extra splash of self doubt.
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