[foobarbazetc]

Been in the Web3 space as a side hustle for something like 2 years now and the only real usecase I’ve seen is something like USDC transfers over Solana.

Everything else is just a scam and/or ponzi.

Add to that that the price of coins is manipulated by market makers and exchanges (CEX and DEX) and it’s not looking good, honestly.

Regulation would actually improve the space a lot. Something like a national ticker for coins would go a long way to clearing out a lot of the scum.

[hanniabu]

Like with all side hustle communities, you will mostly see scams and ponzis. This is also reflected by stating you use Solana. There are a lot of real usecases as can be seen here: https://gist.github.com/hanniabu/32b0f933618a3229efe3fbc01cb...

> Regulation would actually improve the space a lot.

It's already illegal to scam people, what's needed is accountability.

> Something like a national ticker for coins would go a long way to clearing out a lot of the scum.

Only insiders will get promoted

[edkennedy]

Nationalize the Oracles (like Link) basically

[bitcharmer]

What is Web3?

[everfree]

Technically speaking, it's a JavaScript library used for interacting with EVM blockchains.

Practically speaking, people use the term to mean just about whatever they want nowadays. Often it's used as a generic buzzword to sell products on some vague idea of a better, more equitable internet.

[foobarbazetc]

People use it as an all encompassing term for any blockchain using service or product.

https://cloud.google.com/web3

[disqard]

It's a buzzword used to extract a big pile of money from VCs (before setting it on fire).

[mistrial9]

you are describing just parts of a larger, complicated system. Everything you say is true no doubt, but that is not all that is going on, in the entirety.

On the other side, six hundred years of modern finance with insurance and performance-based outcomes, have been leveraged with top-heavy monopoly players. In daily finance on a very large scale, industry companies use "trust" or credit-ratings, or regulatory capture even, to hold on to transaction flows with a lot of overhead.

The promise of automatable chains of transactions is a kind of no-boss, no-outsized fee "free market." The largest currency issuers of the world know this, and have been busily building their own, controlled versions.

You are wandering among flea-market stalls and wondering where the sense is, one might say.