Web 3.0 – An Arrogant and Treacherous Successor Doomed to Fail

Re:Web 3.0 – An Arrogant and Treacherous Successor Doomed to... by web3isgoing on Wednesday November 23, 2022 @06:09AM (#33717734)

DeFi never claims to provide the exact same fiat and off-chain services as CeFi and CEX. It has specific goals, like replacing custody with non-custody, or replacing a centralized exchange with an automated market maker that no single party can control.

This has different risks and trade-offs, obviously, but users who opted for Uniswap instead of FTX as their crypto exchange are probably pretty happy with their decision.

[ Parent | on HN ]

Re:Web 3.0 – An Arrogant and Treacherous Successor Doomed to... by lottin on Wednesday November 23, 2022 @06:49AM (#33718019)

This is like telling someone who got a terrible haircut that they should have shaved their head instead. If they got a haircut it's because they wanted a haircut not a shaved head.

[ Parent | on HN ]

Re:Web 3.0 – An Arrogant and Treacherous Successor Doomed to... by web3isgoing on Wednesday November 23, 2022 @07:12AM (#33718203)

Your analogy makes no sense.

There are many users who just want to hold crypto and perform basic lending and exchanges, and would be willing to spend fractionally more in gas fees to achieve this with higher security guarantees.

Everybody at Barber CEX got a surprise head shaving the other week, meanwhile Barber DEX is still cutting people's hair normally even though it is more expensive and harder to find.

[ Parent | on HN ]

Re:Web 3.0 – An Arrogant and Treacherous Successor Doomed to... by lottin on Wednesday November 23, 2022 @08:34AM (#33718892)

What? No, you don't get it. You're making the same exact flawed point that you made before. DEXs are no substitute for CEXs.

[ Parent | on HN ]

Re:Web 3.0 – An Arrogant and Treacherous Successor Doomed to... by web3isgoing on Wednesday November 23, 2022 @11:46AM (#33721528)

For some users and use cases, they are.

[ Parent | on HN ]