Web3 Sucks

Paranoia, Conspiracy or Objective Fact ? The crypto critics corner is probably the most popular crypto podcast, the reason it has such influence is because the hosts Bennett Tomlin and Cas Piancy are critical of the crypto landscape, bringing to light many lies, falsehoods and dangers that infest cryptocurrencies. Both Bennet and Cas work for a Crypto news outlet named Protos. Which advertises to be an informed crypto news outlet that allows independent journalism to cover the entire crypto industry. The Protos masthead, by my own interpretation, takes a pro crypto stance overall. This is not to say they don't also publish critical crypto news, because they do but the overall attitude of Protos to cryptocurrency is a positive one. Ever since the beginning of the Lunar - Terra collapse, I became regular listeners of both Bennett and Cas on the Crypto Critics Corner (CCC) Podcast and have since enjoyed almost all of the content they have produced. It was a refreshing discovery, when ...

From Riches To Rags, Tech's Biggest Flop. President John F Kennedy in May 1961 promised to land man on the moon and return them safely to earth, within a decade. This was accomplished in 1969. If given almost double the time, what could the whole world accomplish ? Blockchain. Most of you probably first heard of the protocol when someone told you about Bitcoin and for many that was probably the last time you ever heard or even came close to interacting with the technology. For others, it is a technology that was promised and still promises to disrupt the internet as we know it. Prolific angel investor and serial self help author Gary Vaynerchuck even proclaimed it was so innovative and disruptive he likened it to when humans first discovered fire. Yes the hype and buzz behind the abilities of blockchain where grossly over-exaggerated and claims like that didn't help.  A short history of nothing happening. Almost 15 years since Blockchain was thrust into the world, there have be...

Did I just say that out loud....? I'm going to start posting screenshots of influencers from around the web, when they are caught in moments of what I can only describe as Freudian slips. Basically saying the quiet part out loud. Here we have two of web3's bigger influencers, with Brycent probably being the biggest. While I am not all too familiar with the Crypto ethos of Stache, I am all too familiar with Brycent. Brycent is someone who has had to pivot several times, as he made his name known during the Axie Infinitie craze and would go on to preach how play to earn (P2E) gaming is changing lives. While that's a story for another day, he has since made it very clear that P2E gaming is a dead concept but likes how Web3 along with NFT's enables ownership of digital items and allow players to have a say in game development etc.. What he doesn't say often is that he is in it for the money. With crypto still a wild west, especially when it comes to regulation, those wi...

Twitter, full of all sorts of opinions. Opinions I used to get from these two. Due to faults in their logic and behaviour, both have either blocked or been blocked. Daniel was blocked because he was very good at turning an argument in his favor by using logical fallacies and whataboutism. Far too often did I have to redirect the conversation because he would employ some logical banger that would derail the topic completely, employing red herrings which I had to constantly remind him where not important to the topic we where engaged in. In the end I got tired of him arguing opinions or context in things I did not say, by purposefully twisting the meaning of what i would write. The sad part was I did agree with some of his critiques of the Crypto/ web3 world and he would always interact with posts but I couldn't have someone purposefully twist my argument all the time, without annoying the shit out of me. For that he was blocked. I've also come to realize this article got me bloc...

 That Being Your Own Bank Thing Keeps Looking Worse. A crypto wallet drainer tool has managed to steal $60million worth of crypto in 9months Source: Web3isgoinggreat.com The attacked leveraged Twitter and Google ads to lure crypto holders onto phishing websites. While the ad review process clearly needs a review itself. Too many crypto investors blindly trust links they find on the internet. Once again because these transactions occurred on the blockchain, affected users have zero recourse to recovering these funds. Yet another example of why this "Be Your Own Bank" mantra is but snake oil and quackery.

 Banking is complicated, why not do it yourself. Maybe you've heard your Crypto positive friends use terms like "Being your own bank" when it comes to why they chose to buy into the digital funny money. They also might like to harp on about how we can't trust banks, as they bring up the 2008 Global Financial Crisis (GFC) or even some of the more recent events like Silicon Valley Bank, where they suffered a bank run. Due to poor risk management and rising interest rates. Being a bank isn't easy as you have to follow strict government regulation and oversight that the average consumer wouldn't know exists. So the question arises, why would you want to take on all that risk ? Banks run on trust, you trust that when you deposit your pay check into your savings, you'll have access to it all when you go shopping. You trust them to protect your money and even if someone uses your credit card fraudulently, you report that and after an investigation you will have t...