Am I the only not grasping this idea of Web3 ?
I understand crypto and cryptography.
But I just don't get what this Web3 thing mean.

It's a sham technology that is built on crypto lies.

It's claimed to make the internet more free and available.

Don't believe it.

Web3 will be the undoing of a free and anonymous web.

Web3 needs to die.

Its just an overhyped overengineered overexaggerated and over everything "thing" where you can become a multi millionaire in a span of 3-4 months, something you can't do if you worked any job for 5 consecutive lives

It's potentially useful technology used by gold race speculators to do what speculators do, and therefore, give it (rightfully) bad press.

I'm just hoping that some research and advancement can be made in mathematically secure consensus algorithms.

@sariel actually its gonna be a scam space as long as there's no regulation. It is scam because there are no laws where you suffer consequences of your actions. Once regulations hit then web3 is probably inevitable to overtake web2 whether you like it or not. But then at least there wont be scams (or not as much) because they would legally suffer enormous consequences

@b2plane I disagree. Regulation will kill the internet as we know it, this has been made abundantly clear numerous times.

The intent of Web3 is to change the business models of how the internet works. You can, right now, freely visit sites of your choosing. These locations recoup operating costs through various channels that rarely include the end user (except in the light of ad and tracking data).

Web3 will rewrite how you surf. Imagine you're researching some BS for work, you go to Google but you don't have enough Ethereum in your wallet to make a query. Now you have to pay for your ISP, the requests you make, the data you retrieve, and the data you send.

One day your internet bill may be $1 the next day it's $500 because some rich asshole poured $53bln into the market.

Don't believe me? Read it for yourself.

https://w3.org/2022/09/...

Btw they don't mean us. We're too poor to be "creatives".

Crypto, nft, web3 are all grifts made by wealthy people who are upset they did not achieve ultra wealthy status with the rise of web2.0

Web 3 just means your browser speaks blockchain as well as other web technologies.

That means you can put components of a web app on the blockchain. It's a neat idea with a lot of scammy implementations.

Any component on the blockchain will be decentralized, what that will wind up being used for is anyone's guess, but I can Invision an in game currency that's a real coin/token shared across multiple games and vendors. That would be useful

It means nothing, forget it

It’s just a modern pyramid scheme. Oh wait, that was nft. Well, an auxiliary part of it.

All they said plus proof:

https://web3isgoinggreat.com