HACKER Q&A
📣 magicjosh

Good Critiques of Web3 and Crypto?


I can count on one hand the number of solid critiques of web3 I've seen.

Moxie's article is solid [1]. Molly White's stuff is a thoughtful approach from the front-end perspective [2]. Stratechery has some curious diagrams [3].

Currently on the front page is this instant noodle article that reads like something out of Skymall or United Airlines Magazine [4]. I'm looking for more thoughtful stuff like Moxie and Molly have written.

Disclosure: I own crypto stuff

[1] https://moxie.org/2022/01/07/web3-first-impressions.html

[2] https://blog.mollywhite.net/abuse-and-harassment-on-the-blockchain/

[3] https://stratechery.com/2022/opensea-raises-money-bans-nfts-openseas-value-cryptos-aggregators/

[4] https://news.ycombinator.com/item?id=30131830

  👤 enos_feedler Accepted Answer ✓
https://www.youtube.com/watch?v=YQ_xWvX1n9g

Description:

Written and performed by Dan Olson

Crowdfunding: https://www.patreon.com/foldablehuman

Twitter: https://twitter.com/FoldableHuman

00:00:00 Preface

00:01:12 0. In 2008 The Economy Collapsed

00:07:09 1. Bitcoin

00:18:18 2. Ethereum

00:24:34 3. The Machine

00:39:07 4. NFTs Exist To Get You To Buy Crypto

00:57:54 5. The Unbearable Cringe Of Crypto

01:11:46 6. A Self-Organizing High Control Group

01:16:57 7. Crypto Reality

01:25:36 8. There Is No Privacy On The Chain

01:32:52 9. If This "Looks Like Scam" Then Every NFT Room I'm In Looks Like Scam LOL

01:38:29 10. Play To Earn Exists To Get You To Buy Crypto

01:46:39 11. We're All Gonna Make It And By "We" I Mean "Us" Not You

01:56:08 12. DAOs Exist To Get You To Buy Crypto

02:13:21 13. I Know It's Rigged, But It's The Only Game In Town

👤 googlerx
Stephen Diehl's "The Case Against Crypto" post is pretty solid IMHO.

https://www.stephendiehl.com/blog/against-crypto.html

👤 8note
As far as crypto currencies go, the biggest criticism is that it costs money per transaction vs a one time cost for all transactions with cash.

You make the cash once, and it can be used till it wears away to nothing.

The biggest criticisms imo of ethereum/smart contracts is that it's a centralized bottle neck, again due to a cost per transaction, and specifically bidding for transactions.

You're coupling yourself to having one central db for everything everyone is doing, vs having microservices that fail independently. one meme can take down all ethereum transactions by making it too expensive to run a food delivery service. It's centralizing rather than decentralzing

👤 shudza
Moxie's analogy about internet, email and gmail was an eye opener for me.
👤 magicjosh
Here's a good one by HN user kkielhofner: https://kkrants.com/blockchain-the-most-poorly-adopted-platf...
👤 oreally
Are people seeking alternative viewpoints or just dogpiling the same opinions with minor alterations? There's far more criticism of nfts on today's social media channels than the other, I find.

In any case, it's good to keep in mind that more experimentation will come with nfts and that it will continue to evolve into something different. Be open and don't write it off just yet.

👤 dvngnt_
I think concert ticket nfts would be cool. like if you bought a ticket you would receive a commemorative nft. then, you can show off your Woodstock nft to your grandkids like how people save ticket stubs now