FAST

Frogeyedpeas

Quantum Computers do things that Classical computers cannot do. If you trust theoretical computer scientists (or one in particular named Peter Shor) then you can don't have to be very smart to understand the risk. If you are more critical (which is fine), then you will need to learn enough math to make sense of this article: [https://en.wikipedia.org/wiki/Shor%27s\_algorithm](https://en.wikipedia.org/wiki/Shor%27s_algorithm) to see what the issue is. Quantum Computers allow you to do unitary operations (not all operations, but a small class) on exponentially sized data sets. For a lot of use cases this is not very useful HOWEVER one surprising thing is quantum computers can take fourier transforms of exponentially sized data sets extremely quickly. That is their ONE and ONLY trick in some sense. It turns out that asymmetric cryptography using abelian hidden subgroups, (like Bitcoin's use of elliptic curves) can be cracked using this quantum fourier transform. Peter Shor was the first person to realize this, hence the algorithm bears his name. So quite literally, quantum computers can break codes like bitcoin's elliptic curve transaction scheme OR the internet's RSA scheme about AS FAST as it takes a normal-not-quantum computer to execute bubble sort. It's real FUD but it only applies on a century long timescale.

tianavitoli

honestly this sounds like a reverse mind fuck hey like totally don't GO TO THIS WEBSITE NOW it's so super shady it's not like I MADE TENS OF THOUSANDS OF DOLLARS and then lost it or anything crazy like that i was promised GUARANTEED PROFITS but there wasn't even any FAST AND SAFE WITHDRAWAL OF FUNDS so the bottom line is do not CONTACT ANNIE THOMAS AT WAVE FINANCIAL LLC she will take you for a ride

MySnake_Is_Solid

Defensive options take time to develop. Whoever gets their hands on quantum computing first, is very likely to use it for nefarious means, and to do so FAST.

financially_rogue

Next stages are going to build FAST for $HSC

financially_rogue

Next stages are going to build FAST for $HSC

financially_rogue

Next stages are going to build FAST for $HSC

G_Star_X

Don't be schmuck like these guys bro.. Go look up gold over the last 3 months vs Bitcoin in that same time frame.. Things are changing.. FAST.. Why?? Well The Elites are buying all the gold right now.. To take to their Billion dollar bunkers that they are also buying up right now.. Bitcoin is dead right now.. You heard it here first.. WAR is coming.. The grids will go down.. Your bitcoin will be useless..

Righteous_Fury

I used to trade a lot of ethereum mainnet. Once day I checked to see how much ETH I have spent on gas (just for my main wallet) Fucking 2 ETH I knew I did a lot of trades but now that the price of ETH doubled, that hurts even more ETH is bad for gambling. Sol token contracts are much simpler. Gas is too damn high. Solana is FAST and cheap to use.

_lag__

Cos fiat burning down FAST

JoeYo743

Im in most of Stacks based memecoin. For those who dont know Stacks its a Bitcoin layer2. There is GUS MAX FAST PLAY WELSH PEPE all available on Alex Lab. Using xverse for everything layer 2 bitcoin ordinals stacks runes

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1bhcw79/daily_crypto_discussion_march_18_2024_gmt0/).

vnprc

An often overlooked fact is that bitcoin buys you optionality. Want to leave the country for good and take your life savings with you? Can't do it with your 401k. You can do it with bitcoin. Say bitcoin hits $1M much sooner than your conservative prediction. Upgrade your lifestyle. No other asset has such explosive gains in value. Over the long run it can't be beat as an investment. Sell however much you need to spend whenever you want to whomever you want to sell it to. There is always a buyer for bitcoin: 24/7/365. Can't do that with stonks or real estate, they are too illiquid. You could buy cash and store it yourself, it has some of these benefits but it loses value instead of gaining value. In the past four years it has been losing value FAST and it's getting worse not better. Plus there is a lot of risk in making large purchases with cash. Even the cops will steal it if they find it and you have to take them to court to get it back. No way, too risky. Bitcoin solves all of these problems.

FrontBass3942

Post drop recoveries can happen FAST. If you miss the first hour you could miss most of the upside. If it occurs while you’re sleeping….Don’t be a dope - Time in beats Timing

Sonthonax23

LOL, damn you gave up FAST, homey. Sorry you dumped all your money into Dutch tulips. Since you're into theory, you might want to take a look at this one before it's too late: https://en.wikipedia.org/wiki/Sunk_cost

Makemydayshine

I’ve been using the beta V1.5 some days now and it’s easy easy to use. The trx’s are FAST as well as the browser is super fast. Love to use it and cannot wait until it’s ready 360 degrees!! Zypto with the payment solutions, virtual cards physical cards both for businesses and privates will grow and become one of the leading projects in crypto 🔥

BaeJHyun

Are FAST deposits considered wire transfer? I usually use FAST to on ramp sgd into gemini, but havent bought btc yet. Just wondering how it would be like buying btc on active trader since they trade in usd but i only have sgd in my balance

HappyHumor4891

I would invest that 10K in bitcoin, & be prepared for it to SIT for a few years. Bitcoin will continue to explode, BUT it is NOT A FAST INVESTMENT

DwightKSchnute

If you don’t sell when BTC hits 100-125k this bullrun you will 100% sell for a loss watching everything crash down with your mindset. As someone that has been in this game since 2017, I can tell you when it crashes, it crashes hard and FAST out of nowhere. Let’s say you put in $10k at $63000, BTC is pumping and just hit $125k and everyone is saying it’s gonna easily hit $200k, your $10k is now $20k+ and everyone is saying it’s gonna hit $30k within a couple months, then out of nowhere it goes into a death spiral, over the course of 3 days your $20k plummets to less than your initial $10k investment when BTC crashes to $40k and remains there for the next 4 years. Do you really think you can handle that? From your post and comments I can tell you that you absolutely cannot. If you double your money SELL AND GET OUT. Or just hold and DCA through the next bear market to lower your average cost

SwordmanGuts

People are not surprised about the price itself. Rather, they're surprised at how FAST we got to this price.

cypherblock

I think it all depends on how disciplined a trader you are and if you are able to respond quickly or are more of a slow to react person. So $6k Eth seems like a good target, but then the waiting for an initial pull back is where I start to question the philosophy. Sell into an uptrend (you may miss ATH but you're doing great) Buy into a downtrend (you may not catch the absolute bottom but its better than yesterdays prices). The risk with crypto is you'll wait for down turn, it will come and come FAST, after first day or two you'll wonder if it will turn around, then there will be a bull trap and so on. If you are disciplined enough you'll exit but you may be like, no it can't be going down that much... Have a target but don't time the market.

buttcoin_lol

ATH coming up FAST

CryptoKRZ

Bitcoin is in such a different place this cycle. Big money is able to buy now. Everyone has heard of Bitcoin. I have a feeling the volatility won’t be as drastic this bull run. People who have been buying for last year have a better idea of what is going to happen next. I foresee consolidation for a while until a little after the halving then we are going to go up FAST.

rock-island321

I sell a little taste @ 1million, spa weekend. The rest @ 10 million. HOLD FAST.

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1au93v3/daily_crypto_discussion_february_19_2024_gmt0/).

jamesftf

why is it pumping THAT FAST

jamesftf

why is it going up that FAST?

TexasBoyz-713

What’s with all this tame +/-1% days? I joined crypto to lose my money **FAST**!!!

Opposite_Objective34

FAST got it in less than a second and vis 3rd part app (reddit) XNO is so impressive

Theokyles

Yes please! nano_1gr59zy7rek93mct8yymeypydwedsuaomxhff5x1gt8aqb7skj1st8ebdzjw LONG LIVE NANO, FAST AND FREE

N3333K0

Nano is the true definition of cryptocurrency - and I love its crazy brother Banano! Both are FAST (scary fast!), free and fee-less between peers… glad to see it actively getting a little attention again! nano_3e7o6muu9cnbbqdk61i493t6rbxnx57pnjx3rw8uiqu5j1ziofhkc3gn19qo

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/18uts4l/daily_crypto_discussion_december_31_2023_gmt0/).

Alpot12

some body just tell me whats 1000sats? AND WHY IS IT GROWING SO FAST

Numerous-Battle-6216

Mudrex is scamming people by withdrawing millions of dollars worth of rewards and usdt deposit. It will all become ZERO by 19 Dec 2023. They are claiming it to convert to new MRC token. Which is worthless nothing. So overnight ‘MUDREX IS LOOTING ITS CUSTOMERS OF MILLIONS OF DOLLARS WORTH OF CRYPTO ‘ Its a big scam for two reasons. 1. Look at the date they send the email. Dec 15 And when will rewards and usdt turn zero. Dec 19. Just 4 days. Millions might not even have read email by then. Because they are moving it FAST AMD QUICK TO DESTROY ALL EVIDENCE OF REWARDS AND USDT. 2. For paper sake they are saying they are converting it to MRC token, I talked with their customer care executive, even they are not clear of what it is. And its worthless as it is not any listed crypto. We are going to raise this issue to cyber crime and court. Meanwhile Please sign this change.org petition aganist them. Let the court/government know the scale of how many millions are affected by this. Please take screenshots/video recordings of your investments. That can be used as proof and chances are there Mudrex team will make it zero. So hurry up with that. And also if you could please mail Mudrex customer support. And collect proof. Lets unite aganist the scam of Mudrex Co.

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/18ayc6h/daily_crypto_discussion_december_5_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/18744v4/daily_crypto_discussion_november_30_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/185hzo1/daily_crypto_discussion_november_28_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/184p1n3/daily_crypto_discussion_november_27_2023_gmt0/).

blink1776

It’s important to note that Kraken self identified these issues and brought them to the auditors attention. You have to remember that normal people work the operations of a company — just because you see a clean and pristine UI on the front end, doesn’t mean they are the most sophisticated company on the back end. Crypto can be complicated and a lot of these crypto companies gain scale FAST in a bull market. That means finance departments, including accounting, are often understaffed/undersized. While likely a lot better now because they are public, I’d be willing to bet COIN is a lot messier under the hood than one would think… especially prior to becoming public.

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17uoy99/daily_crypto_discussion_november_14_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17ph49v/daily_crypto_discussion_november_7_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17mhpnc/daily_crypto_discussion_november_3_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17hahld/daily_crypto_discussion_october_27_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17e73tf/daily_crypto_discussion_october_23_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17cpbe4/daily_crypto_discussion_october_21_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17cpbe4/daily_crypto_discussion_october_21_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17bxkaz/daily_crypto_discussion_october_20_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17bxkaz/daily_crypto_discussion_october_20_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17b5bjp/daily_crypto_discussion_october_19_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/179kr8a/daily_crypto_discussion_october_17_2023_gmt0/).

Luddites_Unite

It was so short lived that plenty of us only found out after it was all over. There's plenty of excitement and in all likihood, plenty of powder still dry and waiting. Also, it pumped 10% FAST. Now that people have seen that there will be a greed filled fomo liftoff when approval comes

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/1782ndb/daily_crypto_discussion_october_15_2023_gmt0/).

DAMG808

It’s scary how FAST sentiment changes here.

Raj_UK

Well it does seem like there's been a lot of bad news this past two years But all it'll take is one or two bits of good news or new BTC usage utility to kick things off again HODL FAST Here's hoping US Spot BTC ETFs are approved Or eBay / Amazon start natively accepting BTC

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/17506yp/daily_crypto_discussion_october_11_2023_gmt0/).

mitch_brigham

CAN ANYONE TELL ME HOW THE FAST AND THE FURIOUS FRANCHISE IS NOT A CLEAR AND PRESENT DANGER TO BITCOIN AS WE KNOW IT???!!!!111one

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/173dxb9/daily_crypto_discussion_october_9_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/172kuqq/daily_crypto_discussion_october_8_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16z7xfc/daily_crypto_discussion_october_4_2023_gmt0/).

Bandit_Quick

Just HOLD FAST to your crypto. I am looking at stocks that are down 6%. Even gold has been going down.

WocketMan0351

That will take you ~575 days to DCA your remaining $172,000 in cash, meaning you’ll be DCAing well into the next bull run and buying high. I’d personally recommend lump summing 50% up front and DCAing the remaining 50% at a rate of $500/day. The next halving is coming up FAST. The slower you DCA the less BTC there will likely be for sale.

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16t4mkx/daily_crypto_discussion_september_27_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. If this topic is active, submit an entry in r/CointestOfficial and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16qj7tt/daily_crypto_discussion_september_24_2023_gmt0/).

choicehunter

I'll call it "mainstream" when it is somewhere close to the top 10 currencies for market cap. Right now it is number 29. The highest it's ever been was around 18th place. If it can get more stable in the top 10-15, If Bitcoin will 6X its market cap and stay there as an AVERAGE price (not ATH), then it should be in the top 10 at that point. So, when it is STABLE above roughly $160K per BTC, then it will be able to claim to be in the top 10 Currencies per market cap. If BTC wants to take the lead as number 1, then it will need to 76x it's current price (technically 75.868x). So, basically, when BTC gets to over $2Million per BTC, then it will be the number one CURRENCY in the world per market cap. Keep in mind, that doesn't take into account all the other assets, etc, just the currency market cap. But yes, it's virtually inevitable to go mainstream in the coming years, no more than a couple of decades, but maybe as soon as a few years. It can be hard to predict because there are so many variables involved, but the trajectory seems pretty certain. You may not see or feel all the fiat and inflation issues as extreme in the US or traditionally Western countries as much as others in South America, Africa, and even India are feeling the pain, but people are starting to get desperate. The world is adopting BTC comparatively FAST for a completely new technology compared to others in the past.

Electrical-Lead5993

It’s a wild concept. It’s going to be interesting to see community points enter other environments, such as FAST video services

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16km6xu\/daily_crypto_discussion_september_17_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16iy4ad/daily_crypto_discussion_september_15_2023_gmt0/).

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16icg7j/why_salvadorans_dont_trust_bukeles_btc_as_legal/).

brotherRozo

Electrum wallet allows the use of mini keys. The race is on my friend, if it’s a real. Block it and find out how to redeem it to your own wallet FAST

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16cuyuj/daily_general_discussion_september_8_2023_gmt0/).

simplicity92

Hmmmm. In my country there is a flat fee of only $3. Depends of what kinds of on ramp you are refering to. We use a type of transfer call "FAST"

coinfeeds-bot

tldr; The Monetary Authority of Singapore (MAS) has stated that no businesses have qualified to participate in its FinTech Regulatory Sandbox as cryptocurrency payment providers. The statement was made in response to a letter criticizing the Singaporean government’s lack of public consultation and oversight on crypto adoption. The MAS clarified that all businesses with a valid bank account, including crypto businesses, can access the FAST interbank payment system. The regulator also stated that the rising malware scam cases in Singapore are not related to cryptocurrencies, but are more prevalent in the fiat economy. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.

JooseBTC

Bro u needa get on Twitter FAST. Do NOT buy that shit. It’s literally up like 3 million % since laund a few months ago. It could have a lil more upside, but I think it’s at its “doge at $0.69” moment, and we all kno what doge did after that Anyway, Twitter has all the alpha for new shitcoins. I hear about them there at least a few weeks before I see a Reddit post

johnnyb0083

Damn, they should make a $FAST coin when the next Fast and Furious 2024 comes out.

maynardstaint

Not just money, FAST EASY money. That’s what everyone who says “it’s ruined” means.

Focker_

This team is moving FAST.

Omnomnomnivor3

imo it all boils down if your game is FUN been gaming for like 23 years now and that's the main thing I'd consider to even opening a game again if you're able to get people hooked daily, weekly then you have yourself a product, the next thing you should consider it to make sure your monetization is balanced or thought out to some extent Axie blew out because it had the mix of everything, sure it wasn't the best game out there, it's not AAA, it's not the most strategic game but it was enough to onboard millions of people. Sadly they got burnt when their growth went TOO FAST and the token mint to burn ratio just paced poorly Games that usually fail nowadays are the ones that prioritize monetization/token, for that you will get people who wants to make money only. Bots, whales who doesn't give two shits and just dump when it gets big.

CointestMod

#Web3 Con-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. Submit an argument in the Cointest yourself and earn Moons if you win. Moon prizes are: 1st - 600, 2nd - 300, 3rd - 150, and Best Analysis - 500. > **WHAT IS WEB3?** > > The term "Web3" (or, actually, Web 3.0) was coined by Gavin Wood in 2014. He described its four main concepts (static content publication, dynamic messages, trustless transactions and an integrated user-interface) in [this post](https://gavwood.com/web3lt.html). Gavin is one of the biggest names in the cryptocurrency industry, as he is the creator of Polkadot and he was one of the founders of Ethereum. In his opinion, Web3 is going to change how the Internet works by making it "truly decentralized and more democratic". > > **BYE AMAZON, BYE ALPHABET, BYE META?** > > In an ideal scenario, Web3 is supposed to challenge the tech giants and take away their dominance. But how can it happen if the world is already dominated by those corporations to an extreme degree. How can the little guys be empowered when the big guys hold [so much wealth](https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States). There is very little chance that Web3 can help us win the game that has been rigged from the start. > > When you look at some of the decentralized apps that use the idea of governance tokens (e.g. Uniswap, Compound and so on), they often had ICOs and are backed by early investors and Venture Capitals from the start. They are the ones who control them and they are the ones who will make most profit from them. Especially when they can stake their coins. The rich get richer and the dreams of the little guys screwing the big guy are brutally shattered. > > The idea behind Web3 seems utopian for another reason, too: people do not care. Why worry your head about privacy, dominance of corporations and wealth inequality when you can just consume products and enjoy life. Rapid advancements in technology in recent years have spoiled people. We want everything everywhere all at once which brings us to another point. > > **GOTTA GO FAST** > > One of the problems of cryptocurrencies is scalability or, to put it simply, speed of operation. You can have networks that are fast like Solana but then you risk it being shut down every now and then. Secure networks, like Bitcoin or Ethereum, are slow. > > Decentralized applications and websites face the same problem. Even Mastodon which does not use any token to run it, gets really slow if an instance (server) gets crowded. You can move to another instance but if Mastodon was to become as popular as Twitter, changing instances from time to time would be too inconvenient for most people. Therefore, if the technology behind decentralized apps does not improve, the vast majority of users will never trade their precious time for increased privacy or freedom. > > **ANY PRESS IS GOOD PRESS?** > > In one of his tweets, Elon Musk called Web3 "[a marketing buzz word](https://nitter.net/elonmusk/status/1472745072277995526?)". And there is much truth to that. Today, Web3 is indeed used by many shady projects exactly as a buzzword. Those projects have nothing to do with the basic concepts of Web 3 laid down by Gavin Wood. Those are usually the same projects that try to exploit other innovative ideas like cryptocurrency, NFT or metaverse for their own financial gain. As a consequence, for the general public NFTs are nothing more than ugly PNGs everyone can copy, cryptocurrencies are considered the easiest way to launder money and metaverse has Mark Zuckerberg's face. Now, when we consider that the term Web 3 is often associated with the above-mentioned concepts, it is no wonder that it usually has bad publicity in the mainstream media. And since most people's opinions are still formed by those media, it can seriously slow down the progress of Web3. Why? Because ignorants in large numbers can shape narratives. If Web3 in the eyes of many is associated with speculation, money laundering and destroying the environment – majority of investors and companies might stay away from it to avoid backlash from an angry mob. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1nt/general_concepts_web3_conarguments_december_2022/) to be taken to the original topic-thread for this argument or you can scan through the [Cointest Archive](/r/CointestOfficial/wiki/cointest_archive##wiki_web3) to find arguments on this topic in other rounds. Pros and cons per topic will likely change for every new post. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/16a8hfo/daily_general_discussion_september_5_2023_gmt0/).

Electrical-Lead5993

Hope we see more ad-for-crypto services like Brave in other aspects. Imagine a free FAST provider that paid you crypto for watch ads with your shows?

Electrical-Lead5993

FAST streaming services could really benefit from this model as well

yankeeedooodle

I don't want to spread panic, people, but GET OUT FAST THEY WILL ALL COLLAPSE!!! **cries**

jwz9904

that's REALLY FAST

KiritimatiSwan

Pulled out quick OP, you gotta move some money around FAST

HyperionsPaladin

I was thinking that, Plus Meme wars and stuff like r/place between subreddit would get out of hand. FAST. Once there's a competing coin with monetery value attached to them.

koelebobes

I have thought about it... But then I remember how the old game was and what the new game is... I hated the building and it even got worse with people building FAST, Faster than I ever can do

pictogasm

Don't tell people how much you have. But if it's less than a couple hundred thousand dollars... get over yourself. If it's over a million, it may be worth some over thinking. Keep THREE wallets. One is your honey pot decoy... a flimsy amazon "safe" with a trivial amount, like 5-10%. It can be easily pilfered, and if they force you to do the transfer while they are there, you can fully comply and hopefully escape with your life. If you really worry about this, and if legal in your jurisdiction, keep a loaded 9mm in the safe such that it is not immediately visible, but your hand can go right onto it (I would prefer something compact for this like a P365XL). Position the safe someplace where there is no easy line of sight into it while you are opening it and it is not well lit inside once opened. For other two, one is a copy of the honey pot wallet, that you can access FAST after the honey pot is stolen (to hopefully move the funds before they can if they just took it and left). The other is the rest of the balance. Keep these two stashed someplace non-obvious and NOT NEAR the first one. Find interesting and non obvious hiding places and include fire safety in your plan. I will give two possible places, neither of which I use, but you get the idea and can think up your own places where nobody will search. First, stamp your words onto mild steel washers, stack on a bolt, and cinch down with a nut. If you can weld, run two beads of weld down the outside, so that if someone finds it, they can't open it without a grinder. Now, one place to hide it is in a roof truss. Near one end or the ridge, never in the middle of a span, bore a hole diagonal into the truss. Insert your bolt w your 24 words. force a cork in leaving 1/4 inch. Fill with wood filler, allow to dry, then sand to match the truss. NOBODY will EVER see that, and even if they do it's just a knot in the wood. Even if the house burns down, you can still find that stack of washers, and since it's welded, even if someone else picks it up, they can't open and read it unless they guess it's purpose, and 99% of people won't guess. Another place is in the end of a decorative curtain rod. People have hidden things this way before, so we aware that someone might think to look there if they have access to the house and can ransack to their hearts content. But the honey pot decoy usually tells them they have found the prize and they book it out in a hurry. Nobody wants to lose 5-10%, so also make sure that backup copy of the honey pot wallet is stored with an electronic version of a public address that you can transfer to in a hurry. This is not perfect security, but obfuscation and misdirection is usually better than heavier barriers which can still be breached just with increased effort. And it protects against the $5 wrench attack problem.

3utt5lut

Nobody really looks at the technical advantages of other cryptocurrency networks, like say BCH, which is vehemently hated on this sub and by many BTC maxis because it has poor price action and isn't as widely adopted. Well I hate to break it you, BTC isn't that accepted either, practically nowhere accepts it as legal tender and it's frankly useless other than being a store of value. Even Ethereum is in the same boat, it's too goddamn expensive to even use their main L1 network, depending heavily on L2 solutions and BTC is heading this way too. How is something that is too expensive to use and mine, going to change the world? Banks are cheaper and easier to use than both of the largest shilled networks in this space. BTC at $1M would have INSANELY HIGH FEES, how much sense does that make for adoption? Look at DOGE, it was literally created as a joke and it has INSANELY LOW FEES, INSANELY FAST TRANSACTION SPEEDS, and basically an infinite supply. Too many people only think of the fast money aspect and pay no attention to the dwindling technology that isn't advancing in major networks. In the cryptocurrency space, anything can be replaced with newer, better technology, but instead everyone focuses on what has survived bear/bull markets. If it doesn't consistently advance itself like Vitalik Buterin has been doing with Ethereum 2.0, it's going to be redundant in the future and basically just be a memecoin of a once great network.

mnkbstard

awesome rocket is awesome AND FAST

Electrical-Lead5993

I’m interested to see other forms of media adopt this approach, such as FAST services. Imagine opting in to see more ads but your paid a small amount of crypto for your time?

lookwhatumademedoo

That increase was FAST. Just like SOL transactions.

humour-is-good

Really depends on where you are located. For Singapore users either Coinbase, Crypto.com or Gemini because they support FAST transfer which is free and super fast. Personally I use Crypto.com.

humour-is-good

I like Kraken too, but the on/off ramp for users based in Singapore takes a day or more whereas I get <1min on/off ramp with cdc thanks to FAST transfer; it’s a free high speed interbank transfer service in Singapore.

Brainhol

It's bullish for the space as a whole because the supply falling shows it's going else where - be it Bitcoin or back into Fiat - showing hoe FAST and LIQUID this market really is!

C3PBuddha

Arbitrum works great. But why aren't more people concerned that almost all of these layer 2's are centrally controlled through the VC's who essentially own them via the vote? Arb, Opt, Metis, Matic, BSC, IMX, ZK, etc. are all controlled by VC's. This is not crypto as was intented. Yes, they are FAST and work great but at the drop of a hat your funds can be frozen.

ECore

This is how it'll happen. You have to have the bag before it goes up, because it goes up FAST.

mesutdmn

yes, we call it FAST in Turkey, we have it for 1 year, you can transfer money from bank to bank 24/7

Roberto9410

Things can change FAST in crypto. From a pure user experience algorand is a sheer joy to use. Going back to other chains feels like returning to dial up internet after you’ve explored a bit and taken advantage of some of the great opportunities on platforms such as pact.fi The technology continues to develop unabated and I think it’ll have a bright future with real world use cases such as travel X, minting 10s of thousands of NFTickets for example, or even Hesab pay which truly fulfills cryptos purpose as a lifeline and a form of financial independence people in Afghanistan

No_Physics_5212

RUN. Take your money out of BINANCE.US. FAST.

dyzrel

oh shit Warrens anti crypto army better catch wind of this and FAST

OneThatNoseOne

Don't speak too quickly mate. UK standard of living is falling FAST. They are very near the bottom of Europe for largest decrease in standard of living. And don't forget the UK pound very nearly crashed like a developing nation currency not very long ago. There's always two sides to a coin my friend.

Safe_Boot677

That's a good point. Innovation doesn't happen that FAST. The cryptomarkets are full of hacks and con artists. Scammers just trying to screw people. There is a need for a way to filter them out.