WEB

kirtash93

Where you can earn $WEB for every criminal you catch. However life is expensive and Spiderman costume is expensive af so you have to work your ass off at the Daily Bugle to afford them. Also Mary Jane deserves some attention and that increases the expenses.

Tvmouth

Just like a car doesn't need an air conditioner, and it won't make the car faster to have one... but it serves a purpose that is different that making wind blow. L2s connect WEB3 to purpose. It sure does seem like the post doesn't understand why they even exist. ***It's funny how comprehension is an L2 for most chains.***

JustStopppingBye

Yet its the most important WEB3 company right now. The future growth of the Ethereum network relies on CCIP connecting banks to eth.

biba8163

It's good to always be a skeptic and not drink the Kool-Aid. Every cycle around this time, Alt investors are circle jerking themselves and playing bagholder bingo. If the echo chamber you hang around in is playing this game, it's not a good sign: scroll right --> ||BAGHOLDER|BINGO|| |:-----------|------------:|:------------:|:------------: | Ignore the price, fundamentals haven't changed | The whole market is down, not just us | Price is manipulated by whales | Market favors dogcoins, we're still very early | It was always a long term hold | Best Tech in Crypto | Reverse Reddit | Gary Gensler is holding us back | Don't sell at a loss, DCA more to lower cost basis | Buy when there's blood on the streets | Loving these low prices, I just wish I had more Fiat | Seriously undervalued, like buying ETH in 2016 | So much development, price just doesn't reflect it yet | WEB3 is in the DOT com stage, we're early| In X years, you'll be picking out the color of your Lambo | FUDDers make me bullish

DragonStreamline

Price at all time low compared to BTC, hyperbridge just released while many tech upgrades are coming: -Likely labelled as a software so potential ETF ✅ -burning mechanism core time sales ✅ -buy pressure for DOT from buying core time ✅ Join-Accumulate Machine (JAM) ✅ -Seamless interoperability ✅ -Fastest potential tps (1.7million)✅ -Smart contract like functionality ✅ -Chain agnostic RISC-V language ✅ -XCMP+Accords = cross chain blending all parachains ✅ -Supercomputer modular scalable from 1000 cores to infinity ♾️ ✅ -Polkadot burn and buy pressure increase with all these upgrades ✅ -Tanssi & Apillon make it easier for developers ✅ -Safrole to prevent congestion, enhancing security -Zero Knowledge Hyperbridge best bridge in the bussiness ✅ -Permissionless hosting for also WEB2 services= massive onboarding ✅ Polkadot also has problems though: -Leeches and whales draining treasury funds through manipulating the community ❌ -Many Jam upgrades likely to come out during next bear market ❌ -Many ghost parrachains ❌ -Developers are mostly building tech and not apps ❌

biba8163

||BAGHOLDER|BINGO|| |:-----------|------------:|:------------:|:------------: | Ignore the price, fundamentals haven't changed | The whole market is down, not just us | Price is manipulated by whales | Market favors dogcoins, we're still very early | It was always a long term hold | Best Tech in Crypto | Reverse Reddit | Gary Gensler is holding us back | Don't sell at a loss, DCA more to lower cost basis | Buy when there's blood on the streets | Loving these low prices, I just wish I had more Fiat | Seriously undervalued, like buying ETH in 2016 | So much development, price just doesn't reflect it yet | WEB3 is in the DOT com stage, we're early| In X years, you'll be picking out the color of your Lambo | FUDDers make make bullish

4biddenpleasure

Crypto is one giant Ponzi (like it or not) hence why the SEC has be trying to crack down on it. Its only purpose for me is to make money. Adoption will come for some. I think Tokenisation of RWA will be great. WEB3 gaming may take off one day. NFTs will be great for some industries like Music.

ShadowKnight324

Hi. So I made an account and connected my wallet to your site but I noticed I was quite unfinished (at least on mobile) as I was only able to see and access the Account Management and Finance & Trading tabs. I'm curious when will the other functionalities be available? And again this leads me to ask. What is your roadmap and how will you see your project evolve in the next 5 years because from my understanding you guys are trying to make an everything app for crypto? How will you be able to achieve this when your project is a newcomer in an oversaturated crypto market that, as of right now, cares more about meme coins than actual legitimate and useful projects while the competition is fierce and are preferred by the general public (which firstly is averse right now to experimentation with WEB 3.0 apps and secondly doesn't venture out of your topical CEX or at most DEX like Uniswap). Give all these struggles how will you be able to overcome them?

rreive

I am just now this past week running 15 nodes ok and earning nanos convertible to the new as yet to be named WEB3 Internet 2 Autonomi Network token in October , in the beta wave 2, They have about 30,000 nodes in operation on which they are debugging the logs generated... There will be more and larger beta waves where you earn tokens for running nodes on pretty well anything that generate logs to help the team debug before launch Buxton has them working like a professional software and marketing outfit... I have been following these guys since 2015, Maidsafe took some wrong turns for sure, one into the dPoS consensus wasteland, it turns out peer 2 peer wallets with digital bearer certificates (digital cash) make it all work right, your keys, your data, pay once to upload with nanos you earned from running a node, the files are triple encrypted and tripple distributed there as long as the network lasts. Autonomi Network DAO has a client+wallet with secure peer2peer comms as well to support super secure WEB3 meshes, its an XOR Addressed Contents Addressable Network with a kademlia variant which uses GOSSIP No reason why you can't run your crypto project on it, once they boot their Autonomi Name Service, completely securely away from prying eyes...

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/1dyo925/daily_crypto_discussion_july_9_2024_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. > **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/1dx3aoc/daily_crypto_discussion_july_7_2024_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. > **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/1du0klg/daily_crypto_discussion_july_3_2024_gmt0/).

CointestMod

#Web3 Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Pro-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". > > **HOW DOES IT WORK?** > > Probably the best example of Web3 that can be presented here (and I'm surprised no one has mentioned it so far) are [Reddit's Community Points](https://www.reddit.com/community-points/). > > Yes, Moons can be defined as part of Web3 revolution: > > **YOUR OWN PRIVATE PIECE OF THE INTERNET** > > What is the main purpose of Moons according to Reddit? They are supposed to give the control of subreddits to their communities – "[Community Points represent a way for Redditors to own a piece of their favorite communities](https://www.reddit.com/community-points/documentation/introduction)". If we are to believe the pure intentions of Reddit (in other words: if we are naïve enough to trust a big, profit-oriented company), they are making their platform decentralized and giving more power to users. Thanks to the Community Points, subreddits are to become independent of Reddit. > > And even if Community Points will never make subreddits fully independent, they have other advantages. Recently, r/cryptocurrency started renting its banner and offering AMAs for Moons. Companies and individuals who want to promote themselves on our subreddit, need to buy and burn Moons. Therefore, every redditor who is active on the sub and owns some Moons, can benefit from this in a tangible way. Having some financial incentive makes people care more about the sub (of course, some just want to exploit it for personal gain). > > This idea behind Community Points can be applied in a plethora of other online platforms. And it does not have to include a financial incentive to be successful. There are many other advantages that are directly connected to the technology on which Moons are built. > > **BENEFITS OF BLOCKCHAIN** > > Web3 tries to utilize the advantages of blockchain technology. Apart from already mentioned decentralization, Web3 websites and apps can offer their users complete **privacy**. When using e.g. Bitcoin to make a transaction, there is no need for a third party because blockchain is **trustless**. The same could be applied to virtually anything that functions online. For example, [Mastodon](https://en.wikipedia.org/wiki/Mastodon_(social_network)), a Web3 version of Twitter, is not owned by any company. Users are free to create their own instances (servers), with their own rules. Mastodon can't go bankrupt, it can't be sold and it can't be completely blocked by the government. And, most importantly, no left-wing or right-wing agenda (or a billionaire troll) can censor/cancel you there. > > What's more, Web3 platforms don't need your personal data. You can create a digital identity and stay completely anonymous. **Your personal information is safe** and cannot be collected and used by anyone ([for example to be sold to a consulting firm so it can influence elections in different countries](https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_scandal)). > > And, last but not least, the rules cannot be changed without the consent of the majority. No one CEO or a board of rich assholes who want to get more rich can one day say: "We remove the dislike counter though no one ever asked for it" or "From now one we will charge money for something that previously was free". > > The rules are clear and they are written in an **open-source code** that anyone is free to inspect. So, if there is 21 million bitcoins written in the code, a Bitcoin CEO will never show up and say: "OK, let's remove the maximum cap" or "I need to make my own bitcoins more valuable, so tomorrow we remove 5 million randomly selected coins from circulation". Web3 apps are more transparent and much less susceptible to whims of a centralized organization or eccentric individuals. > > **CONCLUSION** > > In a world that is getting more and more dominated by the tech giants, we probably really should root for a Web3 revolution. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_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.

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/1dq60jy/daily_crypto_discussion_june_28_2024_gmt0/).

JustStopppingBye

It still is. It’s the most important project in WEB3 for adoption. Imagine being this stupid. Link stated in their WP (over 7 years ago) how the token distribution was going to work. Nothing has changed, It’s still capped at 1 billion. Why are you surprised?

Mundazo

VARA Network is another WEB3 layer 1 that is working in this direction.

Goandtry

My comment might get downlvoted or deleted, but I certainly believe IOTA will play a significant role during the next 10 years! yes, this is long-term investment, but just look at the development recently, their DAG technology, and their potential for institutions, corporations, and in general for infrastructure in WEB3, transaction layer and validation (identification). Btw, IOTA 2.0 is decentralized already which was main critique for years 

Legitimate-Fly-4189

Yeah USDT wasnt needed should have chosen another. USDT is a stable coin with no way for you to earn significant profits unless you stake your USDT somewhere in the WEB

THEWatcherEU

Coinbase is the most secure cryptocurrency exchange I have ever used, and it is the future of WEB3.

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/1cvaygf/daily_crypto_discussion_may_19_2024_gmt0/).

Plus_Touch_8746

Exactly. WEB3.

0x0000001B

Staking, RWA and WEB3 utility.

XBB32

What's web3.0? Accessing a centralized platform with decentralized data... I know some... You connect your wallet and enjoy the platform... Now, most of the projects out there claiming they're WEB3.0 clearly aren't... They're WEB2.0 with some crypto features... Everything above is my own opinion and not a fact...

throwaway_270423

So many bot comments with „I‘m in!“ Whoever buys this shit, im sorry you fell for it. Comments read like generated texts. „Still cheap“ and „sorry you sold at bottom“ 😂😂😂 I have never bought this crap token. I am very happy THIS „UTILITY“ IS NOT WEB3, IS NOT BUILDING SOMETHING NEW, IS NOT THE NEXT 100x TOKEN Its shilling scam and trying to advertise wirh bot activities so simulate a community! DONT BUY! Buy Bitcoin!

XBB32

Why not try to educate yourself and start with a WEB3 wallet and use the aggregator on [sonar.studio](http://sonar.studio) to buy some coin? Don't go for ETH with such a small amount...

crowkeep

The crypto space undeniably suffers at present from issues of trust. It's a young, evolving technology, plagued by growing pains. I have faith that given sufficient time, these can be worked out. We're already seeing this come to fruition through ETF market adoption in "First World" nations. Less developed nations are employing bitcoin against failing fiat landscapes, see El Salvador on the nation-state level and Nigeria on the popular, etc. The space is rich with experimentation (as a developer I've worked with WEB3 and L2 chains, like *Polygon*). And I can see DeFi opening the way to a form of UBI (**Universal Basic Income**) See *Gooddollar* for instance. I prefer to see the glass as half-full. And lest we forget: The vast and broad engines of criminality throughout the world are by and large, still fueled by the blood and drug soaked *American Petro Dollar*.

INemzis

Look into $WEB. $2m market cap token that’s been going sideways for 4 months now. It’s based on leaked information from Musks x.ai. It will be his attempt to replace google search. Musk coins go nuts. Just buy and hold until he announces it. Hoping for 50x (to rival GROK)

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/).

im_a_good_goat

Yup. Each country has their own currency. Bitcoin is the currency of the WORLD WIDE WEB - A digital global currency in a way. Fiat and Bitcoin should work hand in hand.

INemzis

Buy $WEB on ETH. If Musk announces his “Google killer” Web, as leaked, this will fly above the $2m it’s currently on

Meme_Titans

Largest holding is ADA but I also have quite a bit in XRP, HBAR, SOL, and MATIC. Degen plays are WEB, WEN and even BEN

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/).

CointestMod

#Web3 Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Pro-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". > > **HOW DOES IT WORK?** > > Probably the best example of Web3 that can be presented here (and I'm surprised no one has mentioned it so far) are [Reddit's Community Points](https://www.reddit.com/community-points/). > > Yes, Moons can be defined as part of Web3 revolution: > > **YOUR OWN PRIVATE PIECE OF THE INTERNET** > > What is the main purpose of Moons according to Reddit? They are supposed to give the control of subreddits to their communities – "[Community Points represent a way for Redditors to own a piece of their favorite communities](https://www.reddit.com/community-points/documentation/introduction)". If we are to believe the pure intentions of Reddit (in other words: if we are naïve enough to trust a big, profit-oriented company), they are making their platform decentralized and giving more power to users. Thanks to the Community Points, subreddits are to become independent of Reddit. > > And even if Community Points will never make subreddits fully independent, they have other advantages. Recently, r/cryptocurrency started renting its banner and offering AMAs for Moons. Companies and individuals who want to promote themselves on our subreddit, need to buy and burn Moons. Therefore, every redditor who is active on the sub and owns some Moons, can benefit from this in a tangible way. Having some financial incentive makes people care more about the sub (of course, some just want to exploit it for personal gain). > > This idea behind Community Points can be applied in a plethora of other online platforms. And it does not have to include a financial incentive to be successful. There are many other advantages that are directly connected to the technology on which Moons are built. > > **BENEFITS OF BLOCKCHAIN** > > Web3 tries to utilize the advantages of blockchain technology. Apart from already mentioned decentralization, Web3 websites and apps can offer their users complete **privacy**. When using e.g. Bitcoin to make a transaction, there is no need for a third party because blockchain is **trustless**. The same could be applied to virtually anything that functions online. For example, [Mastodon](https://en.wikipedia.org/wiki/Mastodon_(social_network)), a Web3 version of Twitter, is not owned by any company. Users are free to create their own instances (servers), with their own rules. Mastodon can't go bankrupt, it can't be sold and it can't be completely blocked by the government. And, most importantly, no left-wing or right-wing agenda (or a billionaire troll) can censor/cancel you there. > > What's more, Web3 platforms don't need your personal data. You can create a digital identity and stay completely anonymous. **Your personal information is safe** and cannot be collected and used by anyone ([for example to be sold to a consulting firm so it can influence elections in different countries](https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_scandal)). > > And, last but not least, the rules cannot be changed without the consent of the majority. No one CEO or a board of rich assholes who want to get more rich can one day say: "We remove the dislike counter though no one ever asked for it" or "From now one we will charge money for something that previously was free". > > The rules are clear and they are written in an **open-source code** that anyone is free to inspect. So, if there is 21 million bitcoins written in the code, a Bitcoin CEO will never show up and say: "OK, let's remove the maximum cap" or "I need to make my own bitcoins more valuable, so tomorrow we remove 5 million randomly selected coins from circulation". Web3 apps are more transparent and much less susceptible to whims of a centralized organization or eccentric individuals. > > **CONCLUSION** > > In a world that is getting more and more dominated by the tech giants, we probably really should root for a Web3 revolution. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_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.

JustStopppingBye

>I thought CCIP was still in the conceptual stage and hadn't reached widespread adoption, The testnet has been out since July 2023, yet over 120 protocols have already integrated it included all the largest DEXs without a full release. However, the mainnet should be out in a month. Im taking into account Chainlinks dominate position in WEB3 to determine that ERGO has already lost. If you remove your bagholder blinders youll realize this is true. ERGO will never be able to compete with Chainlink, they do not have the resources to do so.

user_name_checks_out

It always cracks me up when people start a whole new thread with a title like WARNING: WEB SITE free-bitcoinz-r-us.biz IS A SCAM!!! Like really?

JustStopppingBye

You should spend your time researching something actually useful to WEB3 like oracles. This sub is pathetic.

Available_Refuse4240

But whats all the talk about a funnel from WEB2 to WEB3?

finix_drag

WEB3 apis

Director_Virtual

No offense taken, I was partly trolling but your interpretation is far from the truth… First I didnt buy when it was 500x and I did not buy bc of his shilling… Had done some prior research on Web 3 and heard of ICP (and got it at $5 btw at first buy), decided to give reddit a spin and stumbled across that community- Also, I had been doing my research on crypto for a while and the entire market. Not just crypto, but the technology too, the entirety of where we are headed in the future. We are currently entering the 4th Industrial Revolution- Do you not agree that in the future we will continue transitioning from WWW2.0 to WWW3.0 which is decentralized and functions through the Block Chain? The transition has already started, and will continue to accelerate as Bitcoin becomes mass adopted- and then ETH ETF. But then ICP is the NEXT piece of the puzzle, as it links all of them, and brings a lot more to the table. It was hard for people to fathom what the internet was, or from the transition from WW1 to 2.0, where so many people lost out or lost money in the DOT COM bubble. Theres information out there all about the transition to WEB 3, ik its hard to fathom at this point rn, but a lot of people said that in the beginning BTC (and ETH later) would be nothing. That is how things work, you dont hear about them until after they blow up. Until then, everyones skeptical. But I think the technology makes sense in terms of where we are headed.

miamininja

FIle coin will be bigger with the adoption of WEB 3

UpliftingUnicorn

So where the link to the $WEB token?

SharpyQBBQ

So much evidence on WEB. The GEM everybody has been waiting. Get on board while you can.

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/).

INemzis

I don't know why I'm posting here - but, $WEB. I hate Musk, but if X.AI releases WEB as all the leaks suggest, this will pop like all the others have.

SamiraGalbraith

What's the WEB3 product they are supposed to release?

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/).

majinbuu128

Sounds like a diamond in the rough world of meme coins. Could potentially become a top 100 project with its real world usability. Imagine celebrities, influencers, pro athletes, etc making their own coins for their fans. Pretty soon even school age kids will be able to created their own coins on the block chain just for kicks but it will lead this next generation into understanding what WEB3 and blockchain are all about.

CattleAffectionate40

Everyone says that BTC and ETH How about we talk about other cryptos? Projects like KAVA will have more relevance than they already have in the future Kava will lead the world to WEB3

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 Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Pro-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". > > **HOW DOES IT WORK?** > > Probably the best example of Web3 that can be presented here (and I'm surprised no one has mentioned it so far) are [Reddit's Community Points](https://www.reddit.com/community-points/). > > Yes, Moons can be defined as part of Web3 revolution: > > **YOUR OWN PRIVATE PIECE OF THE INTERNET** > > What is the main purpose of Moons according to Reddit? They are supposed to give the control of subreddits to their communities – "[Community Points represent a way for Redditors to own a piece of their favorite communities](https://www.reddit.com/community-points/documentation/introduction)". If we are to believe the pure intentions of Reddit (in other words: if we are naïve enough to trust a big, profit-oriented company), they are making their platform decentralized and giving more power to users. Thanks to the Community Points, subreddits are to become independent of Reddit. > > And even if Community Points will never make subreddits fully independent, they have other advantages. Recently, r/cryptocurrency started renting its banner and offering AMAs for Moons. Companies and individuals who want to promote themselves on our subreddit, need to buy and burn Moons. Therefore, every redditor who is active on the sub and owns some Moons, can benefit from this in a tangible way. Having some financial incentive makes people care more about the sub (of course, some just want to exploit it for personal gain). > > This idea behind Community Points can be applied in a plethora of other online platforms. And it does not have to include a financial incentive to be successful. There are many other advantages that are directly connected to the technology on which Moons are built. > > **BENEFITS OF BLOCKCHAIN** > > Web3 tries to utilize the advantages of blockchain technology. Apart from already mentioned decentralization, Web3 websites and apps can offer their users complete **privacy**. When using e.g. Bitcoin to make a transaction, there is no need for a third party because blockchain is **trustless**. The same could be applied to virtually anything that functions online. For example, [Mastodon](https://en.wikipedia.org/wiki/Mastodon_(social_network)), a Web3 version of Twitter, is not owned by any company. Users are free to create their own instances (servers), with their own rules. Mastodon can't go bankrupt, it can't be sold and it can't be completely blocked by the government. And, most importantly, no left-wing or right-wing agenda (or a billionaire troll) can censor/cancel you there. > > What's more, Web3 platforms don't need your personal data. You can create a digital identity and stay completely anonymous. **Your personal information is safe** and cannot be collected and used by anyone ([for example to be sold to a consulting firm so it can influence elections in different countries](https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_scandal)). > > And, last but not least, the rules cannot be changed without the consent of the majority. No one CEO or a board of rich assholes who want to get more rich can one day say: "We remove the dislike counter though no one ever asked for it" or "From now one we will charge money for something that previously was free". > > The rules are clear and they are written in an **open-source code** that anyone is free to inspect. So, if there is 21 million bitcoins written in the code, a Bitcoin CEO will never show up and say: "OK, let's remove the maximum cap" or "I need to make my own bitcoins more valuable, so tomorrow we remove 5 million randomly selected coins from circulation". Web3 apps are more transparent and much less susceptible to whims of a centralized organization or eccentric individuals. > > **CONCLUSION** > > In a world that is getting more and more dominated by the tech giants, we probably really should root for a Web3 revolution. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_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.

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/).

CointestMod

#Web3 Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Pro-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". > > **HOW DOES IT WORK?** > > Probably the best example of Web3 that can be presented here (and I'm surprised no one has mentioned it so far) are [Reddit's Community Points](https://www.reddit.com/community-points/). > > Yes, Moons can be defined as part of Web3 revolution: > > **YOUR OWN PRIVATE PIECE OF THE INTERNET** > > What is the main purpose of Moons according to Reddit? They are supposed to give the control of subreddits to their communities – "[Community Points represent a way for Redditors to own a piece of their favorite communities](https://www.reddit.com/community-points/documentation/introduction)". If we are to believe the pure intentions of Reddit (in other words: if we are naïve enough to trust a big, profit-oriented company), they are making their platform decentralized and giving more power to users. Thanks to the Community Points, subreddits are to become independent of Reddit. > > And even if Community Points will never make subreddits fully independent, they have other advantages. Recently, r/cryptocurrency started renting its banner and offering AMAs for Moons. Companies and individuals who want to promote themselves on our subreddit, need to buy and burn Moons. Therefore, every redditor who is active on the sub and owns some Moons, can benefit from this in a tangible way. Having some financial incentive makes people care more about the sub (of course, some just want to exploit it for personal gain). > > This idea behind Community Points can be applied in a plethora of other online platforms. And it does not have to include a financial incentive to be successful. There are many other advantages that are directly connected to the technology on which Moons are built. > > **BENEFITS OF BLOCKCHAIN** > > Web3 tries to utilize the advantages of blockchain technology. Apart from already mentioned decentralization, Web3 websites and apps can offer their users complete **privacy**. When using e.g. Bitcoin to make a transaction, there is no need for a third party because blockchain is **trustless**. The same could be applied to virtually anything that functions online. For example, [Mastodon](https://en.wikipedia.org/wiki/Mastodon_(social_network)), a Web3 version of Twitter, is not owned by any company. Users are free to create their own instances (servers), with their own rules. Mastodon can't go bankrupt, it can't be sold and it can't be completely blocked by the government. And, most importantly, no left-wing or right-wing agenda (or a billionaire troll) can censor/cancel you there. > > What's more, Web3 platforms don't need your personal data. You can create a digital identity and stay completely anonymous. **Your personal information is safe** and cannot be collected and used by anyone ([for example to be sold to a consulting firm so it can influence elections in different countries](https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_scandal)). > > And, last but not least, the rules cannot be changed without the consent of the majority. No one CEO or a board of rich assholes who want to get more rich can one day say: "We remove the dislike counter though no one ever asked for it" or "From now one we will charge money for something that previously was free". > > The rules are clear and they are written in an **open-source code** that anyone is free to inspect. So, if there is 21 million bitcoins written in the code, a Bitcoin CEO will never show up and say: "OK, let's remove the maximum cap" or "I need to make my own bitcoins more valuable, so tomorrow we remove 5 million randomly selected coins from circulation". Web3 apps are more transparent and much less susceptible to whims of a centralized organization or eccentric individuals. > > **CONCLUSION** > > In a world that is getting more and more dominated by the tech giants, we probably really should root for a Web3 revolution. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_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.

According_Gazelle522

Thanks just joined $WEB

greatdane_c

This $WEB thing is going to be huge lol. I’m pretty sure they’re ahead of where $GROK was at this point.

HaxxenPirat

Bullish on $WEB, it's inevitable!

Bad_Hombre_P

# ABOUT $WEB **The new ERC meme token, Web $WEB, emerged from an accidental Twitter leak on Web.x.ai, coinciding with similar leaks at grok.x.ai and ide.x.ai. This occurred just before the public release of Grok and Promptide, two other tokens associated with Elon Musk's XAI initiative. While the $GROK and $PROMPTIDE tokens have seen significant growth, or "mooning," in the cryptocurrency market, $WEB is now being spotlighted as the next potential hidden gem. Notably, $WEB boasts features like zero tax on transactions, and its liquidity has been burned and renounced, indicating a more decentralized and user-driven approach. This new token is poised to attract attention in the crypto community, riding on the wave of its predecessors' success and the intrigue sparked by its unconventional introduction to the market.** 11/13 token launched. still undetermined when Elon will make his announcment. This token is based on front running $web eventual release. ​ Contract : 0x2b81945875f892aff04af0a298d35fb2cf848c7b ​ [Web-x-ai price today, WEB to USD live price, marketcap and chart | CoinMarketCap](https://coinmarketcap.com/currencies/web-x-ai/)

CointestMod

#Web3 Pro-Arguments Below is an argument written by Blendzi0r which won 1st place in the Web3 Pro-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". > > **HOW DOES IT WORK?** > > Probably the best example of Web3 that can be presented here (and I'm surprised no one has mentioned it so far) are [Reddit's Community Points](https://www.reddit.com/community-points/). > > Yes, Moons can be defined as part of Web3 revolution: > > **YOUR OWN PRIVATE PIECE OF THE INTERNET** > > What is the main purpose of Moons according to Reddit? They are supposed to give the control of subreddits to their communities – "[Community Points represent a way for Redditors to own a piece of their favorite communities](https://www.reddit.com/community-points/documentation/introduction)". If we are to believe the pure intentions of Reddit (in other words: if we are naïve enough to trust a big, profit-oriented company), they are making their platform decentralized and giving more power to users. Thanks to the Community Points, subreddits are to become independent of Reddit. > > And even if Community Points will never make subreddits fully independent, they have other advantages. Recently, r/cryptocurrency started renting its banner and offering AMAs for Moons. Companies and individuals who want to promote themselves on our subreddit, need to buy and burn Moons. Therefore, every redditor who is active on the sub and owns some Moons, can benefit from this in a tangible way. Having some financial incentive makes people care more about the sub (of course, some just want to exploit it for personal gain). > > This idea behind Community Points can be applied in a plethora of other online platforms. And it does not have to include a financial incentive to be successful. There are many other advantages that are directly connected to the technology on which Moons are built. > > **BENEFITS OF BLOCKCHAIN** > > Web3 tries to utilize the advantages of blockchain technology. Apart from already mentioned decentralization, Web3 websites and apps can offer their users complete **privacy**. When using e.g. Bitcoin to make a transaction, there is no need for a third party because blockchain is **trustless**. The same could be applied to virtually anything that functions online. For example, [Mastodon](https://en.wikipedia.org/wiki/Mastodon_(social_network)), a Web3 version of Twitter, is not owned by any company. Users are free to create their own instances (servers), with their own rules. Mastodon can't go bankrupt, it can't be sold and it can't be completely blocked by the government. And, most importantly, no left-wing or right-wing agenda (or a billionaire troll) can censor/cancel you there. > > What's more, Web3 platforms don't need your personal data. You can create a digital identity and stay completely anonymous. **Your personal information is safe** and cannot be collected and used by anyone ([for example to be sold to a consulting firm so it can influence elections in different countries](https://en.wikipedia.org/wiki/Facebook%E2%80%93Cambridge_Analytica_data_scandal)). > > And, last but not least, the rules cannot be changed without the consent of the majority. No one CEO or a board of rich assholes who want to get more rich can one day say: "We remove the dislike counter though no one ever asked for it" or "From now one we will charge money for something that previously was free". > > The rules are clear and they are written in an **open-source code** that anyone is free to inspect. So, if there is 21 million bitcoins written in the code, a Bitcoin CEO will never show up and say: "OK, let's remove the maximum cap" or "I need to make my own bitcoins more valuable, so tomorrow we remove 5 million randomly selected coins from circulation". Web3 apps are more transparent and much less susceptible to whims of a centralized organization or eccentric individuals. > > **CONCLUSION** > > In a world that is getting more and more dominated by the tech giants, we probably really should root for a Web3 revolution. ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/z9o1s3/general_concepts_web3_proarguments_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.

jtswizzy20

It's pretty obvious at this point that WEB is the next big thing elon is working on. Direct competition to Google IMO

dollar_man10

The Hallmark and roadmap is fascinating and got me thinking about it astonishing spike See you there guy @racekingdom_io $ATOZ #METAVERSE #NFT #GAME #WEB3

Victo1990king

Be sure not to miss out on $ATOZ as it will be listed on #DigiFinex With trading time Sept 13, 2022 7:00UTC To Trade on bit.ly/3TUmtPb You can DYOR 👇 racekingdom.io #ATOZ #METAVERSE #NFT #GAME #WEB3

yeeatty

-jack dorsey- “bitcoin is on WEB 5!” -snoop dawg- “bitch I’m on WEB 420, stfu”

HodlOnToYourButts

~~WEB3~~ [Internet2](https://imgflip.com/i/6sb9n4) https://github.com/internet2-wg

NannetteRowse

Providing a frictionless experience into WEB3, accessible to anyone is $3AIR.

NannetteRowse

Providing a frictionless experience into WEB3, accessible to anyone is $3AIR.

R1skM4tr1x

SDLC, psh, WEB3 motherfucker we don’t need no guardrails or compliance!

Castr0-

WEB3 garden is not a bad idea. Everyone remember farm ville?

Kahrahtay123

“XRP Price Prediction 2030 The XRP Ripple price prediction for 2030 is $10.67. XRP’s future is bright, driven by mass adoption from many investors who bring considerable gain to the platform. The future of WEB 3 is coming, and the crypto world is set to earn extensive—the XRP price range from $10.39 to $12.32.” I would love to see it happen, i always loved Xrp as it got me into crypto. And always put 20% into it.

reddito321

Can't wait to be scammed in WEB3.0!

reddito321

Reddit is quietly and legitimately bringing NFTs and WEB3.0 shit to everyone, without promising miracles and such as other players in the market

Better-Opposite-8051

You should try the WEB Auth wallet. Soon they are adding a dex with trading directly from the wallet. https://webauth.com/start. 20 dollars for fiat on with smaller transaction fiat on system released in the future. They are securing the point of hacks that occurred in blockchain technology which are the bridges.

8bitb4rt

Solana is so fast and cheap that it feels like WEB2. Phantom wallet is also one of the very best imo. It feels like the most intuitive user experience and that is bullish AF. great write up for the strengths and weaknesses of SOL.