Re:Is Web3 anything?
by throwaway405769 on Friday December 10, 2021 @05:09AM
(#29508286)
More than 2 billions of people live in authoritarian regimes where the government rules exist only to oppress the population and make it more easily controlled. Bitcoin gives them the option to maintain their property rights, avoid financial surveillance and money controls. Saying that crypto is only used for ponzi schemes is simply false and disingenuous.
You didn’t actually point to any evidence that a meaningful number of those 2 billion people actually benefit from crypto.
Re:Is Web3 anything?
by peoplefromibiza on Friday December 10, 2021 @08:24AM
(#29509517)
and Cryptos would help them, how?
Authoritarian regimes are very good at filtering and blocking unwanted content.
Bitcoin is as easy to block as any other traffic that's easy to recognize.
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Re:Is Web3 anything?
by hansonkd13 on Friday December 10, 2021 @08:50AM
(#29509795)
I think ToR is the worst example you can use. Good in theory? Yes. In practice it is pedophile and drug honeypot with exit nodes run my the government with limited legitimate actual people using it.
All I see is markets which sidestep all the rules enforced by governments to keep them fair (which prevent things like trading with yourself to create fake transactions), and none of the "park renovation" or "enabling trade for people in oppressed regimes" hypothetical examples. Whatever crypto claimed as values they are not actually being used in practice. The only things it visibly succeeded at were enabling ponzi schemes, enabling dark web trade, making lives easier for ransomware, and using a ton of electricity.
I can't buy that web3 will deliver on any value it claims based on the monumental screw-up that industry did with cryptocoins. Especially when all values are hypothetical, and deal with abstract things like "trust".