Do developers think Web3 will build a better internet?

Re:Do developers think Web3 will build a better internet? by dtagames on Friday April 29, 2022 @11:31AM (#31206451)

I agree that casinos and crypto are predatory businesses. But I noticed you skipped the stock market -- which was my first and most important example. It would be difficult to argue in the modern world that the stock market is "bad" and we shouldn't have one. Yet it is undeniably a form of gambling -- the most advanced and expensive one, reserved for only the wealthiest gamblers.

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Re:Do developers think Web3 will build a better internet? by peteforde on Friday April 29, 2022 @11:41PM (#31213164)

I actually don't think it's gambling, tbh.

There's an interesting discussion to be had about truly free markets, for sure.

However, the modern stock market is neither fair nor random. It's not accessible to you or I in the same way that it is to financial institutions. Front-running and dark pools are accepted as normal. https://www.youtube.com/watch?v=bP74RBTE8kI

I would also suggest that Warren Buffett does not see the stock market as random or gambling. When he buys a company, it comes after huge amounts of research. A good stock trader obsessively researches the companies that they invest in. While it might not be anything like a guarantee of success, I sure hope you have better than Vegas odds when investing in a company that you've learned everything you can learn about without becoming an employee.

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