Moderation and temperance in the face of web3 FOMO
Posted: Sat Dec 14, 2024 7:18 am
Blockchain is a useful and valuable technology and web3 is a concept created for illustrative (and marketing) reasons. The internet will not be replaced and its infrastructure will remain the same, improving where possible.
Cryptocurrencies have relatively real value when backed israel girls whatsapp number by a real project (Bitcoin probably being the only exception, where its utility is the transactional use of the currency itself), but at the current moment they remain a volatile instrument of speculation.
No one should promise returns on investment , especially double and triple digit returns, on investments with cryptocurrencies or NFTs in the current market, since the volatility of the instruments does not allow any kind of realistic projection (projections do not even work in the stock market… how are they going to work in the crypto space).
Blockchain is hardly the solution to the “lack of democracy” that exists on the Internet today. In any case, the transparency in financial transactions that exists today with cryptocurrencies represents a new world of potential problems for user privacy.
Nothing in web3 is decentralizing wealth and decision making , which I don't think will change. Venture capitalists and entrepreneurs in this space still call the shots, controlling the bulk of the tokens and with them all the economic and voting power.
That said, blockchain is an excellent and promising technology that can (and probably will) transform many of our digital products for our benefit. The main problem is not the technology, but the people .
Why are there people promoting the benefits of blockchain, and especially cryptocurrencies, almost blindly? Is it ignorance or malicious intent? It depends on the case. But this social phenomenon is the main obstacle to the positive development of these technologies and their continued mass implementation.
Cryptocurrencies have relatively real value when backed israel girls whatsapp number by a real project (Bitcoin probably being the only exception, where its utility is the transactional use of the currency itself), but at the current moment they remain a volatile instrument of speculation.
No one should promise returns on investment , especially double and triple digit returns, on investments with cryptocurrencies or NFTs in the current market, since the volatility of the instruments does not allow any kind of realistic projection (projections do not even work in the stock market… how are they going to work in the crypto space).
Blockchain is hardly the solution to the “lack of democracy” that exists on the Internet today. In any case, the transparency in financial transactions that exists today with cryptocurrencies represents a new world of potential problems for user privacy.
Nothing in web3 is decentralizing wealth and decision making , which I don't think will change. Venture capitalists and entrepreneurs in this space still call the shots, controlling the bulk of the tokens and with them all the economic and voting power.
That said, blockchain is an excellent and promising technology that can (and probably will) transform many of our digital products for our benefit. The main problem is not the technology, but the people .
Why are there people promoting the benefits of blockchain, and especially cryptocurrencies, almost blindly? Is it ignorance or malicious intent? It depends on the case. But this social phenomenon is the main obstacle to the positive development of these technologies and their continued mass implementation.