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Re:Web3 is not Decentralisation – it’s a Ploy to put Crypto ... by ryan_lane on Tuesday November 30, 2021 @09:03PM (#29399821)
This is simply another form of pushing FOMO for cryptocurrency.

I was a teenager in the 90s, and my dad was my current age and working for an ISP. Everyone there was around his age or older, and they all understood the potential of the early internet and the web. Most of the people in the early 90s internet era that built out the tech were older. It's one thing to say people outside of the tech field can't see the potential in technology, but it's a completely different thing to say that older people in an industry can't see the potential.

I see lots of potential in newer technologies, but web3 is trying to build an inferior version of what we currently have, with rent-seeking middlemen. It's doing so with blockchains, a 13 year old tech, which most of us have been saying for 13 years is a solution in search of a problem (and we've been right so far). Web3 is yet another way of trying to package up and sell it, primarily being pushed by people who have a monetary interest in having you use it, because they're the landlords.

Re:Web3 is not Decentralisation – it’s a Ploy to put Crypto ... by returnInfinity on Wednesday December 01, 2021 @05:28AM (#29402465)
I agree with some of the points you make

But I agree with Stan Druckenmiller that Bitcoin is a brand now and is an asset. It has finally found its purpose.

Also crypto for cross border transactions, unless regulations kill them

And DeFi for cross border finance, again regulation can kill this.

Re:Web3 is not Decentralisation – it’s a Ploy to put Crypto ... by ryan_lane on Thursday December 02, 2021 @12:32AM (#29412872)
Something being a brand isn't a purpose.

Cross-border transactions are an incredibly niche use-case, and my guess would be that it's primarily used for money laundering. AML laws will probably kill this off, since you still need to turn that crypto into fiat to use it.

DeFi's purpose is avoid taxes on crypto gains. Otherwise, it's the worst form of banking possible.