[Hendrikto]

Claims like

> web3 is a naked pyramid grift

are not fostering an intellectually honest and objective debate.

Sure, there are countless speculators. Agreed, many things are overhyped.

The underlying technology is still innovative and enables novel solutions.

[HideousKojima]

>The underlying technology is still innovative and enables novel solutions.

The only situations where blockchain provides novel solutions is where you need something to be absolutely trustless, and even then the trustlessness is limited to things that happen on the blockchain. The moment the blockchain has to interact with the real world outside of the blockchain you get back to problems of trust.

The range of problems that such technology is capable of solving is incredibly small. 99% of problems that I see people claiming are "solved" by blockchain were already solved by a boring old normal database like Postgres, or a distributed database like CockroachDB, or a distributed consensus algorithm like Raft. All of which are several orders of magnitude faster and more efficient than using a trustless, distributed blockchain.

Please name a single real-world problem that you believe blockchain "solves."

[fleddr]

Even the speculation part, which admittedly is the vast majority of crypto activity, is not that easily dismissed.

The use case for speculation is making money. Making money is a pretty compelling use case. Most crypto traders are perfectly aware of the risks and play the game anyway.

I mean, the owners of this very site fund a thousand startups only to see 10 succeed. Pure speculation.

[guerrilla]

Yes, let's have an intellectualky honest and objevtive debate about if the world is flat. No, stop wasting people's time and energy with your obvious pyramid scheme.

[jeremyjh]

We don't need a debate. We know shit from shinola when we see it.