jwz: The Web3 Fraud

January 9, 2022

jwz: The Web3 Fraud:

After all, a programmer doing the most basic test of a web3 prototype is going to need to get the cryptocurrency, spend the cryptocurrency, and any application will require all users to get the cryptocurrency as well. If this gets abandoned quickly due to the inevitable technical failure “web3” still accomplished its goal of getting more suckers in and extracting their money.

So in the end web3 is a con job, a technological edifice that is beyond useless as anyone who attempts to deploy a real application will quickly discover.

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