The thing is , that side of things in practice, isn't really decentralized. Where do you buy and sell those "shares"... exchanges (e.g. binance, coinbase, bitfinex etc), which essentially just replace the centralized stock exchanges and banks of traditional finance.
Whilst it's possible to avoid those, I'd guess it's beyond many participants to do technically, so the exchanges become defacto centralization, and instead of regulated stock exchanges that operate in the same judicial location, in many cases these exchanges explicitly try to avoid regulation or accountability.
Have you really not heard of decentralized exchanges?
Re:Is Web3 Bullshit?
by paulryanrogers on Sunday December 05, 2021 @09:44AM
(#29449598)
Sounds like MLMs with a lower barrier of entry.
Re:Is Web3 Bullshit?
by PaulDavisThe1st on Sunday December 05, 2021 @10:05AM
(#29449793)
How does any of that differ from the current US stock market?
Insider trading and wash trades are legal. You can legally lie to your "investors". And it's all untaxed if you're lucky.
Re:Is Web3 Bullshit?
by ClumsyPilot on Sunday December 05, 2021 @10:02AM
(#29449766)
Sounds like the housing market
Anyone can buy a share of a coin, and make a profit as long as the amount of fiat currency put into the chain keeps growing. Every new user convinced it's going "to the moon" pays dividends to existing holders. This automatically creates a financial incentive to become an astroturfer for the project.