> Netflix and Youtube aren't moving their hosting to the blockchain.
I see people claim, basically constantly, that the blockchain will be the source of all such content in the future and that this will free people from youtube's tyranny or whatever.
Re:Web3 Is Bullshit
by scottiebarnes on Sunday December 05, 2021 @10:05AM
(#29449790)
That's not practical, but decentralized sources like IPFS, BitTorrent, etc will be useful sources of hosting for videos/creators who don't want to face censorship from Youtube etc.
They have. And this is where the "decentralized storage of video will replace youtube" argument comes from that apparently the person I replied to have never seen. As you mention, this is completely impractical except for the very few people who are willing to spend the enormous overhead for this sort of hosting.
Yeah most of these posts start with a straw man and try to work their way backwards from there.
What I think it really boils down to is that web3 represents a shift away from the centralized dystopian organizations that employ most of the people in this community.
Away from centralization and straight into energy inefficient pyramidal schemes.
Thank you for that insightful and not at all cliche response.
Blockchains don't exist to be fast, efficient, or scalable. They exist to be decentralized, permissionless, and censorship resistant.
> People are trying to move from a world in which compute resources are efficient and almost limitless to a world of scarcity because they want to build an economic system where you can trade your fortnite skins for online currency
Actually, no one's doing this. You've created a strawman argument. Netflix and Youtube aren't moving their hosting to the blockchain. Google's not storing database shards on IPFS. What people are trying to use blockchains for is the creation and persistence of digital property. Blockchains are expressly better at provenance because records cannot easily be altered, compared to a centralized service.
> Creating economic ownership schemes of things that nobody needs to own because they're not scarce in the first place.
Congratulations, you just defined western capitalism.