Tuesday, June 14, 2022

Why is web3 criticised for the scams?

Any criticism of technology has to be along the lines of technology. For example, cloud technologies can be criticised for inefficiencies or reliability. IoT can be criticised for a lack of standards or inadequate security. When it comes to Web3 though, it is all about boo hoo this idiot lost his money to a scam. I find this very weird. 

It's good to talk about the scams. The "dirty impression" that crypto has, has led to the entire DeFi ecosystem being so transparent about every single step that they take. If you are in it to make a quick buck, and you end up losing money, well serve's you right! As the old saying goes, a fool and his gold are soon separated. Web 3 is not some magical realm that exists to squeeze you out of your money. Sure it is volatile and unpredictable, but if you do not have an appetite for that, and do not understand what is going on, by all means stay away! 

This was a short reaction to people crying over at Web3 is going just great. 

That is a very selective, one sided view of only the bad things happening in an ecosystem. 

Disclaimer: This is so sad that it is expected, I have some small amount of ETH, Doge, and some other coins I forget the names. I never ask anyone to invest in crypto, and what I have is strictly for utility, not expecting my "investment" to balloon out of proportion. I am in it for the functionality and the fun, not the potential for financial gain. Also, NFTs are freaking awesome. 

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