Is Web 3.0 and Crypto All Hype? What You Need to Know
Web 3.0 feels like a nightmare sometimes. It's supposed to encompass crypto, blockchain, and a decentralized internet but its current iteration is the internet but slower.
The process of trying to store a single integer in a database will cost thousands of dollars. At this point, I'm convinced that Web3.0 will be the same web but much slower and with your data frozen on the blockchain and also open for everyone to see. Like I said, a living nightmare.
The honest truth - is that all of this has been said countless times before. Web3.0 isn't going anywhere. It's the future. The future that all of humanity is unknowingly depending on right now.
Currently, the modern web is an inescapable centralized capitalistic surveillance dystopia. It's bad. Real bad. Web3.0 is one of the only solutions that can save us. Here's why.
Web3.0 is a giant scam, isn't it?
Here's what Web3.0 is as explained through the previous evolutions of the internet:
- Web1.0: You're hosting your website in your basement (centralized)
- Web2.0: A big central entity like Amazon is hosting your website in their basement (centralized)
- Web3.0: Everyone is hosting your website in their basement (decentralized)
Algorithms and data-stealing are imposed upon you without your say. As the artist Banksy once said about Big Tech, 'They have access to the most sophisticated technology the world has ever seen and they bully you with it.'
Web3 aims to change this by introducing decentralization and token-based economics which offers an alternative to data collection as payment for internet activity.
This means with Web3 you don't have to pay with your data. Instead, you'll be able to pay with trace amounts of crypto in return for not allowing your data to be shared. You finally get a choice.
Web3 might not be an entire liberation of this Matrix-like system - as some of these blockchain implementations will be closed source - but the concept, in general, is infinitely times better than what we have now.
When Web3 hits mainstream it'll kill privacy
Web3.0 is a dystopia where everyone's identity is tied to blockchains and everything you do becomes traceable via the blockchain's ledger, which by design, are public.
Web3 is about to take away the last bit of internet anonymity.
This is only half-true.
Centralized solutions to the internet are the real problem, not Web3. Read about the "Great Reset" or the article "Welcome To 2030: I Own Nothing, Have No Privacy And Life Has Never Been Better," which was proudly published by the World Economic Forum.
The difference between "centralized" and "decentralized" is that, because the decentralized code is distributed, you are free to see the software, free to modify it, and free to improve on it so that it is no longer a surveillance technology or a scam.
Even if you do not possess the ability to alter it, people have the ability to "fork" the application and prevent whatever evils they see in that technology.
Unfortunately, we're on track for a terrifying technocratic future. We'll either see centralized solutions that invade every part of our lives, or decentralized ones that can help us maintain some semblance of privacy.
Web3 has no inherent value
The best and only necessary argument against Web3.0 and cryptocurrency is the "Peter Schiff argument:" Crypto has no inherent value.
You can't just wish a valuable currency into existence; it's either a historic macro commodity like gold or in micro-economies (like prisons) it can be cigarettes or some other fungible, immutable item.
Here's my argument against this. Define inherent value. Go on, I'll wait.
Does language have no inherent value?
Does math have no inherent value?
Air cannot be monopolized - but does it also have no inherent value?
Value is paradoxical in nature. Even Plato said that in the Euthydemus, "for it is the rare that is precious, while water is cheapest, though best."
Crypto isn't just rare, it can be traded instantly across borders, it's protected by cryptographic security (unhackable), it's weightless, deflationary and doesn't require any permission from a third party.
I am deeply skeptical of all the FUD around crypto and Web3.0 because the value is quite obvious - especially with the kinds of systems we have today.
The American Dream is radically changing before our eyes.
People need a round of pills to get up in the morning - and a round to go to bed. You can't even own a house because of all of the land that has been snatched up by Blackrock and other oligarchic interests.
For many Americans, their only safe haven is what's online, and for almost a decade now the internet has been an Orwellian addiction factory.
Besides tearing down the entire system and going back to a life in nature - the solution the Unabomber unironically proposed against Big Tech - I don't see any other solution besides crypto and Web3. And before some angry person in the comments rants about another solution:
- No, not everyone can remove technology from their lives and become an enlightened guru.
- No, we cannot rely on Big Tech or the government to act in our best interest.
- No, I don't want any pineapples with that. Who puts pineapples on pizza?!
Web3 gives me a reason to be sanguine. It isn't the entire answer, but it's a piece - a salient piece. The rest lies in humanity to amend our troubled, deeply delusional misanthropic ways.