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Comment by zeppers | Hacker News Reader

You are posting this question into what is mostly an anti-crypto echo chamber.

It's a bit like asking "is the internet just a big scam" in 1998 at a magazine and newspaper trade conference.

The people here are too engrossed in the world they built and lack the imagination for how it could be completely transformed to offer you an objective answer.

My opinion is that 98% of crypto is either a scam or just bad ideas that will fail, but the remaining 2% will be the foundation the future of commerce and technology will be built on.

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Crypto has been around since 2009. It's been 13 years of bullshit. Because Andreessen is behind the web3 scam a lot of people are in... FOR THE MONEY. Let me guess none of you would be involved in this if it wasn't for $$$. As soon as crypto becomes the Enron/Madoff of the 2020s this cough 'technology' will disappear.

The ARPANET has been around since 1971. It's been 25 years of bullshit. Because Andreessen is behind the "web" scam a lot of people are in... FOR THE MONEY. Let me guess none of you would be involved in this if it wasn't for $$$. As soon as internet becomes the savings and loans crisis of the 2000's this cough "technology" will disappear.

Yeah Marjorie "The Hulk" politician from GA is pumping this. How dumb do you have to be to think people who understand what ARPANET means will fall for the imbecilic web3 non-sense you are pumping. Go cash out now fool, the scam is running out of suckers.

> It's a bit like asking "is the internet just a big scam" in 1998 at a magazine and newspaper trade conference.

1992, maybe. By 1998 all kinds of organizations had seen significant customer demand and business improvements — not just selling penny stocks to each other but finding new customers, reducing costs and delays, offering services which weren't feasible before, etc. In contrast, cryptocurrency is 13 years in without a single success story. Even something as simple as “due to competition, PayPal had to lower their fees” would be a bigger win, forgetting whether there's enough room to recover all of the VC money.

That's the key difference: in 1998, yes, there were obviously doomed dotcoms but they weren't the only thing going on in the web space. You probably even read about this on the websites which had already siphoned off a ton of traffic because investors found it far preferable to go to a website than either wait until tomorrow's newspaper arrived or paying a ton of money for access to one of the paid services.

https://www.usenix.org/publications/loginonline/web3-fraud

> the remaining 2% will be the foundation the future of commerce and technology will be built on.

It has been 13 years and truly useful and innovative application of blockchain is yet to be found. You have the echo chamber beteween the ears.

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