I’ve been calling it web 1.5. It feels a lot like the web before web 2.0, but leverages improvements in technology and knowledge since then
The problem is, you cant pay with that lol
Why pay?
Electricity costs money unfortunately
Raw cash?
The rawest
That’s what I’m talking about)
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it’s insulting to consider cryptocurrency or blockchain as any kind of next generation thing
… keep being insulted by reality, then?
To me it feels like how 3D tvs were. Cool tech but not enough people hopping on board to make it mainstream so it stagnates and fizzles out. I could be wrong of course
Oh, yes. Good luck preserving the value you spent your life creating in your cash/fiat money while the printer goes brrrr. When bank bail-in happens to bail out the rich, I’ll be laughing my *** off. I bet you don’t even know what bail-in means. It basically means the banks will take your money to bail themselves out, like Cyprus in 2010s. It’s the plan if a crisis happens. Read about it.
Also, I hope you enjoy the social credit system after Central Bank Digital Currency becomes a normal thing, and then be cut off the financial system for being a “bad boy” with a press of a button. Today Nigel Farage is the bad boy, tomorrow it’s you (but you’re good boy, aren’t you?).
Your corrupt politicians can’t pry my cryptocurrency out of me even if they wanted to. They won’t even know how much I have. I can, on spot, drop everything and leave to a new country when things get bad (they never do, now do they? I gotta stop with the conspiracies… things are perfect)
Chickens will come home to roost. I guess we all pay for our decisions after all. That’s what life is about. That’s why I care not when people lose their life savings because they trust governments. They chose that.
Crypto bros love to bring up CBDC, like we don’t have a centralized banking system with credit cards already lol. I wonder if you’re libertarian!
Your corrupt politicians can’t pry my cryptocurrency out of me even if they wanted to.
All they need is a $5 wrench lol
You mean a $5000 wrench. The government can’t appropriate a wrench for just $5.
Especially funny since to be usable you need to exchange it or buy it you need standard currency (unless you mine it), meaning you are back to square one
I ain’t reading allat
Of course you won’t… why would you? Enjoy being a poor slave. That’s what you guys do. Never read.
sorry what are you saying? I can only see googoogaga repeated a bunch
Monero is an ok cyrptocurrency because its not designed to make you money. Its designed to launder money and buy illegal things. Its useful if youre trans and live in Florida where hormones will be illegal.
Anyone who thinks crypto will replace money is high. The problem with capitalism isnt money. You cant fix it by inventing different money.
I feel like maybe you could have been more hostile. Why dont you try again, and really let it out this time!
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Until it comes tax season and you’re not rich to hide it
So tax fraud?
Noooooooooo, you can’t like things that can evade stupid and needless monetization!
Dumb take is dumb. Digital ownership is the “next” internet whether the bootlickers want it or not.
Blockchain is stupid and cryptocurrency is a scam.
Well, I guess I just used a „scam“ to pay for my VPN subscription. Later today, I will use another „scam“ to pay for my email service. Tomorrow I will use a „scam“ to pay for a VPS. Some day, I might use a „scam“ to rent a seedbox. So unfortunate that your so called „scam“ is actually usable to make payments online. In fact, those „scam“ payments are in some cases better, then‚ using a absolutely trustworthy credit card issued by a definitely trusted a reliable bank. Because banks never collapse and they never scam their customers. Such trustworthy multi-billion dollar corporations, I really don’t see a reason to distrust them. Depending on which “scam” you use, your payments are actually anonymous, just like cash. But the government and your bank don’t want you to use cash, because that way, they can’t track all of your transactions. They hand you a credit card, and they advertise it to you, and you actually start thinking that it is supposed to help you, while in reality it makes you a slave to the corporate and government-lead surveillance system. Fuck credit cards, fuck banks and payment providers, fuck central banks and governments. Use Monero and stay anonymous.
What’s the transaction or gas fee just to pay your bills?
The technology behind them are very impressive, but yeah their execution seems questionable. Monkey pictures for a million?
They are just distributed ledgers with deflationary economic policies added. Not really impressive.
Digital verification and tokenization of securities would prevent all fraud in the stock market
Instead we got scams on top of scams and zero use out of either. Wake me up when anyone finds a use that isn’t theft. I’ll be in fucking torpor by the time I’m woken up.
Talking shit about early-alpha type shit is so dumb. People said the exact same shit about web2
Lol, web2? When Facebook, reddit, amazon, twitter, etc pretty much killed the internet and consolidated most users under themselves. That was an unmitigated failure for the internet. It has directly led to the homogenization and garbage heaps we have now.
Web2.0 is a “failure” so why even both fixing the system?..
Web3 isn’t fixing shit. It’s more techbros trying to steal more of the internet. How many NFTs you own, bro?
But I don’t like web2
lol. So all the fraud in the crypto space that isn’t being prevented is a feature?
Virtually none of the fraud in the stock market is because of lack of verification or tokenization.
Please lemmy.world god, tell me what the fraud in the stock markets is from
People lying about the underlying assets the stock represents? People cooking their books? Pump and dump scams? Receiving multiple lines of credit against the same assets?
What forms of fraud are solved by tokenization or digital attestation that are prevalent today?
Rehypothenticaton and naked short selling would both be entirely eliminated globally
How heavy are your GME bags?
Neither of those are fraud, bud. You just don’t like them. Vote for people who also don’t like them. Blockchain won’t solve either.
Blockchain and cryptocurrencies are pretty cool from just a technology perspective. At university I studied a lot of math and cryptography and that happened to be at the same time that Bitcoin became a thing. It could have some real applications, but scammers and cryptobros ruined it for everyone and now I can’t even say I find crypto (meaning cryptography) cool without seeming like an asshat.
Blockchain is an unchangeable (unless you own the only authority as we’ve seen, or you fork it) database that can only grow. It HAS to have multiple, identical instances or the owner can corrupt it. I’m not sure I see any benefit here except for potential security. But we’ve seen blockchains get into the terrabytes pretty quickly which isn’t that feasible for large-scale operations.
This is why Ethereum is moving to statelessness. Where only a rolling state is saved but the diffs are broadcast and accessible for a certain period of time before they are dropped. So any system listening to an Ethereum node can just follow the root and listen for just changes they care about.
How do you ensure you are holding an accurate copy of the blockchain in that case? A single holder of a blockchain means the entire thing is insecure and the holder can change or steal whatever they want.
If a new player wants to host a copy of the etherum blockchain, how do they do that when it’s stateless?
It will still have some state, things like merkle roots will still be verifiable, and any derived/state that isn’t kept from the main chain will have some form of proof that links it to the main chain.
Most actual transactions/normal user stuff is moving to layer 2 chains, which commit a hash or proof of their state to the main chain. So they will still carry their state, but rely on the security of Ethereum main net.
There will still be archive nodes that store everything that’s ever happened, but being a full archive node won’t be required to run a normal node as a validator or as a user. This allows the network to be more decentralized without every node needing 2-4TB of fast nvme to even do anything.
You’re right about that for sure. But a few TB isn’t that big a deal anymore, and if there was a need to deal with it we could come up with something… or just not use it at all. 😎
what if web3 is anonymous overlay networks like Tor hidden services? It a completely new concept to internet itself, and if directly implemented on hardware it will be true Web3
Federation was we 1.0 people forget all major chatting services used to be integrated. You could have a yahoo im show up on your aim chatbox.
Holy cow
Wait until you hear about XMPP (and it’s bridges).
If Federation/Decentralization could be combined with decentralized crypto currency payments through something like Monero in a way that is not a scam, it would actually be great. We need some kind of monetization model for the Federated Web, and crypto currencies are actually great for that purpose but so far all implementations of this haven’t really worked or were just a scam.
It’s a bit unnerving when you look at the number of products we rely on, day to day, which aren’t decentralized. I’ve been calling for a reliable way of exchanging money, and perhaps purchasing a product, on the fediverse for a while now.
Like imagine decentralized Steam (Newell’s pretty cool but he won’t live forever) or paying for a coffee with a block chain credit. Seriously, inflation and miners were the problem with crypto. It can be as worthless as it wants, as long as it stays exactly that worthless.
Why are Miners a problem? You need people who mine the crypto and then sell it to you, cryptos with a pre-mined supply are garbage. The problem is not with the miners, cryptos like BTC or ETH that can be mined with ASICs are the root of the problem. The only crypto currency I consider legitimate is Monero (XMR) because its RandomX algorithm makes it resistant to ASICs and GPUs. It is meant to be mined with a CPU, and only CPU-mining is efficient and economically viable. (Although in the Monero community, we don’t mine Monero for the money, we do it to support the decentralized system) XMR has the core idea that 1 CPU = 1 vote on the blockchain. Everyone has a device with a CPU, thus everyone can mine. ASIC-powered mining farms in China (which are often the ASIC factories themselves) don’t have an advantage over regular users, as it should be.
Why do you need mining or artificial scarcity at all? Yes, CPU mining is more ‘efficient’, but what is the point? And why are all (as far as I can tell) crypto currencies deflationary? It encourages hoarding rather than spending and investment which can be economically devestating. Maybe that doesn’t matter for black market usage, but there are many crypto supporters who see it as the future of actual currency.
BTW Monero is like the one crypto I find kinda interesting, due to the privacy aspects.
Because that’s how the blockchain works. Without validation (which is what Mining does) anyone could just claim they have e.g. 1 million XMR when they have zero. Because you don’t have a central authority in crypto currencies, you need some other mechanism which verifies that transactions are legitimate. That mechanism is a whole bunch of complex math, or in other terms, Mining (in the context of crypto currency). Glad you like XMR though.
Not all cryptocurrencies are deflationary. Yes the deflationary model encourages holding/discourages spending however for some projects this is a desired outcome based on the utility the coin/token is aiming to provide.
Additionally deflationary crypto can act as a hedge against inflation, hyperinflation, and stagflation. The decreasing supply can counteract inflationary pressure caused by externalities like government policies and economic shake ups.
I think any hedge against inflation is countered by the extreme volatility most of them suffer from.
Which cryptos are non-deflating BTW?
cryptos like BTC or ETH that can be mined with ASICs
ETH moved to proof of stake, no more POW mining needed.
I call it web3.0++ its web3.0 after the concussion wore off.
Web 3.1, this time with realistic use cases!
Or web 3.0 minus. As in minus that libertarian bullshit.
I’m gonna wait for Web 3.11 For Workgroups.
Nah, we renamed Web 3.0 to Web 3.2 Gen 1 to be less confusing, you’re thinking of Web 3.2 Gen 2.
USB standards has entered the room.
give it some time and there will be crypto based instance. I think both technologies can coexist.
There already is monero.town which is an instance centered around Monero.
Hadn’t thought about it this way. Good meme.
but how do I give someone .0045 cents for no apparent reason??
GNU Taler. Ah, question was rhetorical :)
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Me too, I really like the concept, also have demo-purchased by app with it. Hope it will become usable reality at some point.
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Even if/when GNU Taler launches, somehow I don’t think the VC-backed app scooter companies are going to be adopting anonymous payments anytime soon.
Don’t forget the 40 dollar transaction fee
The only people that think this is correct are ones that learned about crypto 5 years ago and never thought to update their information. The lightning network allows for tiny bitcoin transactions with sub one cent transaction fees. In addition to that, the transactions happen in less than a second.
It’s also centralized and just a bandaid over an issue that could have been solved if Bitcoin had stayed true to its original intention, i.e. digital cash, not a fake store of value.
Everyone who believed this was true lost a lot of money betting on Bitcoin Cash.
At least Bitcoin cash stayed true to the goal of Bitcoin. A peer-to-peer electronic cash system.
That was also untrue. Electronic cash doesn’t imply no/low transaction fees. Basically everything they told you was a lie.
Show me where in the whitepaper does it mentions storing value, please.
No/low transaction fees and ease of transaction is the main point of cash vs barter, Bitcoin abandoned that, now you have to go through the trouble of using level 2 to have small fees and quick transactions, what’s the point of Bitcoin then?
Oh and show me people who bought Bitcoin in early 2021 that haven’t lost cash please.
Cherry picking, look at a log chart
So is saying that everyone who bought Bitcoin cash lost money considering today isn’t all time low.
It’s not as if I was here to defend Bitcoin cash, I’m here to point out that Bitcoin and lighting network is flawed though.
Man, why is every one of your comments just wrong?
01.01.2021: 23902
today: 26143
Oh sorry if I don’t keep up to date to the daily movement of Bitcoin… I mean, I wouldn’t have because it’s a store of value and the basic principle of a store of value is the ability to use it and be guaranteed to have what you put in or close to it…
It’s also centralized
Nothing about lightning is centralized, unless you think bitcoin itself is centralized.
https://www.reddit.com/r/btc/comments/s3tvox/is_lightning_network_decentralized_why/
Great explanation by someone who isn’t a maximalists. Sorry but yes it is.
Haha. Fees are high and it’s impossible to open a channel because of that? That’s beyond stupid…
No, it’s centered around large nodes, that’s the point they’re making.
Over 50% of the network’s capacity in the hands of 5 entities?
https://www.reddit.com/r/btc/comments/vo86ki/over_half_of_all_lightning_network_capacity_is/
Shit’s decentralized as fuck yo!
Heck, Bitcoin itself had the majority of its hashrate coming from a dictatorship where the state needs to have a representative in all major companies… One move and the Chinese government had control over the network.
#decentralization
This is absurd. Anyone who has the slightest idea of how it works knows that it is in no way centralized. It isn’t hard to learn how it works.
As long as you have a channel with that person preconfigured and funded right? Otherwise you need to do an on chain transaction with on chain fees to set up that sub one cent transaction.
Shhhh, don’t point out how there has to be a large pool of the currency sitting in someone’s account and that the person often disappears with it all or spends it. That upsets their narrative. No regulation or oversite is GOOD.
This is absurd. It is impossible for anyone to disappear with the money, nothing like this has or even can happen. Please post any source even claiming this. I am baffled that it would even cross your mind to even make such an absurd claim. Please post a source.
Here’s the most widely known and published case:
Supposedly she’s dead now but who knows. The current biggest news scam is the FTX shit. That was a crypto exchange. They stole like a billion dollars. Is it better because he didn’t disappear after fleeing to the Bahamas?
This is what I love about you crypto techbros. You just claim everything that doesn’t support your beliefs isn’t real. Please invest all your retirement savings into digital currencies. You’ll show us.
You misunderstood what was being discussed completely, we were talking about the technical side of the lightning network, not whether or not people kill each other for money. Yes, absolutely people murder each other to take what they want, but believe it or not this happens with every currency in the world and happened even before currency existed. I can’t even imagine what must go through the head of someone to think that murder/theft is something that bitcoin introduced to the world.
No. I have opened up exactly 1 channel with 1 other person years ago, and it was done automatically when I installed the app. Since then I have been able to send and receive bitcoin to anyone I’ve wanted to instantly and for a miniscule fraction of the amount that I have sent. I am really surprised, I had no idea that so much misinformation was being passed around amongst people who have never even decided to try it themselves or even look into it deeply at all.
Monero transaction fees goes brrrrrrrrrrr
It’s less than 10 cents
Now that’s a definition I can get behind.
Nice meme but pls
Maybe same text just laforge format. Fediverce is star trek.
Any reason why? I also like the templar from path of exile.
Drake is a creeper, give it time and you’ll see some allegations and court dates pop up.
Lol I didn’t even know it was drake, I just thought it was some guy
What’s a Drake?
A drake is a four legged dragon that lacks wings, but that’s not important now.
I think it’s a male duck
It’s like a Tate, but Canadian.
Not defending Drake, but he’s definitely not nearly as mush of a monster as Tate.
Of course not, he’s Canadian.
I also think IPFS (non filecoin version) could prove useful in the future as well.
A post mentioning IPFS that hasn’t been downvoted into the mantle? I’m impressed.
It seems that most people don’t have any idea that it’s not reliant upon blockchain.
Somebody asked the other day about hosting websites on cell phones. I mentioned that IPFS would be just about perfect for that and everyone got out their pitchforks.
IPFS is great, but also so difficult to get it right
Agreed, I’m building a p2p search engine for it
What’s IPFS in layman’s terms? The Wikipedia is hard for me to follow lol
basically like bittorrent but the entire network is just one swarm and blocks are deduplicated and everyone keeps the stuff they accessed for a while so peers near to them can fetch it from them
it also has a dht, a pubsub like system for fast message propagation and changeable content and is built to be future proof on the protocol level (everything is modular and self describing and can be swapped out)
oh and also everything can link to everything by its CID (content identifier)
I don’t know the details (checked it out once, before crypto integration), but it’s like bittorrent. You seed your own files, people who download and keep the files also seed. I think I once tried out a prototype decentralized (crypto) ebay-like app, and all images were “hosted” on IPFS. (So, once the app downloaded the product image, it seeded it to other clients).
I believe all files are hashed, and something like DHT is used to lookup files by hash id.
It’s the cloud where all of the GIFs that people call NFTs are stored.
I’m already using it, but just for notes so there aren’t any measurable improvements over the traditional methods. It’s still cool to see it work though.
