Hmmm… That’s a pretty sensitive topic here, so I don’t know if you want to read different ideas… And we could write a whole book, but for the sake of intellectual discussion, let’s throw some points here.
Disclaimer: I briefly worked for a small crypto company in 2021 on the controversial Pay-to-win model using Enjin, Ethereum, and such. I received payments on crypto and paid people in other countries, being cheaper and easier than national services. I don’t think I’m a crypto-bro, and I don’t want to work in that area anymore.
I don’t like to say “everything X is evil” or “everything Y is good”, based on beliefs, ideology, and tech-religion. But people need those. Even I need something to believe in. Decentralization is my current value.
I think that’s the radical point of Crypto vs Not-Crypto.
“You are with us, or against us.”
As a technology, blockchain is, IMO, an amazing tool for decentralization, excuse the comparison, similar to BitTorrent. Proof of Work is problematic and it’s showing that when many people use it, it’s an environmental disaster.
@eapl.me@eapl.me I invest in crypto, I use it to pay for various services too, I focus mainly on monero due to it’s privacy features - which I like. For me it’s a way of saving and investing. I do not have much in there - but more saved there then in the bank. Cryptocurrencies are definitely useful, in many ways.
Crypto is here to stay. What I dislike is the whole web3 ‘pay to play’ kinda thing..
So, many new technologies were created on top of that ‘good’ system.
Proof-of-stake, Proof of authority, Proof of weight, and many more.
They are re-centralizing a decentralized system to hold monetary value (not digital cash, since that’s another topic).
Finally, when we mix a social network/media/platform with all those abstract technologies developed in the last 15 years to hold monetary value, we are in a crazy world of unfulfilled promises, but which people want.
I understand why that exists. Why generative AI is a trend now. Why Crypto was told as a future, and such.
So, answering the question:
How many people truly believe blockchain social networks are the future?
I think there is a significant amount of people. I saw it at events and conferences. If many people believe in that, and somehow benefit from it, it’s enough to start a movement. I’ve seen that in traditional streaming, video game stores, Roblox, and many more.
I think that Social media is toxic enough when attention and personal information are sold in exchange for a fun platform, and a free way to get in contact with friends and family.
But also it’s a tool for companies, big and small to sell stuff, which starts as something good, a way for small creatives to earn money from their craftsmanship.
But as has been discussed, soon an enshittification process begins.
As if likes, upvotes, hearts, and subscriptions weren’t narcissistic enough, let’s make people think someone wants to pay them with crypto to view their random posts online.
I’m with you on this idea. It could be a pyramid. But the promise of earning real money also happens with traditional platforms (Meta, TikTok and such).
When real money (or crypto money, or worthless digital points) is in the equation, strange behaviors start to appear in creators and followers.
So, many new technologies were created on top of that ‘good’ system.
Proof-of-stake, Proof of authority, Proof of weight, and many more.
They are re-centralizing a decentralized system to hold monetary value (not digital cash, since that’s another topic).
Finally, when we mix a social network/media/platform with all those abstract technologies developed in the last 15 years to hold monetary value, we are in a crazy world of unfulfilled promises, but which people want.
I understand why that exists. Why generative AI is a trend now. Why Crypto was told as a future, and such.
So, answering the question:
How many people truly believe blockchain social networks are the future?
I think there is a significant amount of people. I saw it at events and conferences. If many people believe in that, and somehow benefit from it, it’s enough to start a movement. I’ve seen that in traditional streaming, video game stores, Roblox, and many more.
I think that Social media is toxic enough when attention and personal information are sold in exchange for a fun platform, and a free way to get in contact with friends and family.
But also it’s a tool for companies, big and small to sell stuff, which starts as something good, a way for small creatives to earn money from their craftsmanship.
But as has been discussed, soon an enshittification process begins.
As if likes, upvotes, hearts, and subscriptions weren’t narcissistic enough, let’s make people think someone wants to pay them with crypto to view their random posts online.
I’m with you on this idea. It could be a pyramid. But the promise of earn real money also happens with traditional platforms (Meta, TikTok and such).
When real money (or crypto money, or worthless digital points) is in the equation, strange behaviors start to appear in creators and followers.