"We don't need Web 3.0 / DAO" The voice of the crypto natives

Jack (Twitter creator Jack Dorsey) That's right. We can no longer lie. You have to tell people the truth. I know Jack is unfair to Bitcoin, but his thinking on VCs is fair.

I think something went wrong with WEB 3.0.I am native to crypto. We use various DeFi protocols and tokens. We are removing social media apps to serve as a platform for various cryptocurrency related apps on our phones. A few days ago my contract got hacked and I still lost a lot of money. Yes, I am Degen (short for degenerate, often used as self-mockery for "playing").

However, I am not purchasing the WEB 3.0 account.

You might be tired of hearing the word WEB 3.0. Former Twitter CEO Jack Dorsey recently sparked controversy by posting the above tweet on Twitter. And I can say it's hard to disagree with him.

I hate WEB 3.0 too.

WEB 3.0 is managed by a third party.

I don't know where the word Web 3.0 comes from, but even some people understand it because I was surprised. Because a lot of us have been involved in what's called Web3 or DAO from birth through smart contracts and blockchains and don't think it's big. That's what we did. I'm not talking about it because everyone thinks it's jargon. We focus on marketing, investing, using DeFi, gm and more.

We started hearing rumors on web3.0 in mid-2021. This was when the NFT market hype was at its peak. Coincidentally, around this time, I began to notice that a new group of beautiful people started to enter the hall one after another. I had never encountered a lot of things before.

Crypto is a cohesive community. If you see “The people I follow don't follow” on your Twitter account. So you know you are a stranger. Most of the outsiders who came to shout “Network 3.0, decentralization” were VCs (venture investor / institutions), then more recently TradTech (important technicians / not crypto-currencies). First of all, I am from Silicon Valley.

like a conversation.

I spend most of my time on Twitter and most of my time standing on Twitter. So when I see the wave of VC money traveling to something new, I see it right away. In the past, their terms were keywords such as "on", "electric vehicle" or "manufacturer". They are now re-establishing themselves as broadcasters for "Network 3.0" and DAO.

In fact, it's no surprise that venture capitalists are changing direction with the wind. This is because he always follows the principle of "go where there is a gold mine".

It goes without saying that their old gold mines have disappeared. PSPC, a longtime favorite of tech products and investment industries, has been hit hard this year. Maybe they've taken advantage of it already and now need a new playground.

I don't like what they call "my stuff" in the crypto world. The little globe in our corner is something we create a little bit every day (and doesn't seem to have a VC / whale issue existing). VCs will destroy everything, just like they do with assets beyond Legacy PSPCs.

These people are just a bunch of crooks and gold diggers.

Web 3.0 has the breath of the ICOs of 2017.

If an item in the bakery, great packaging from the store, you know it's full of lies. The cryptocurrency nation had such a skeptical performance in 2017 when there were many ICOs.

So when the folks at Web 3.0 came up with a basket of descriptions and scrambled words, they just wanted to remake the 2017 show.

Web 3.0 is booming because it is the future of the Internet. Release your blind interest, especially your crypto hopes. He described it as a dream for a better world.

Web 3.0 lends out the cryptocurrency terms gm and wagmi, making everyone believe that this is a unique concept of cryptocurrency. Web 3.0 will change lives by supporting relationships (often the purchase of tokens). Misconceptions.

do not mistake yourself. Even the peoples of cryptocurrency believe that cryptocurrency is the future. But for now, most people know that Bitcoin is an alternative to money laundering and Dogecoin is just not worth it.

At the same time, what surrounds Web 3.0 is the rise of crypto-unicorns and the rising value of cryptocurrencies on the moon, a sentiment that makes people shudder.

Because the people of crypto know that the real world of crypto is ruthless. Whales express their thoughts about eating you, directly or indirectly (list of retail stores). There are many hackers and Rug Pulls. Management is therefore useless. You could still lose over 70% of your boss in no time.

Lots of sliding rugs, black box work, and deeply buried products kept attendees entertained for a long time. In their opinion, righteous criminals benefit more. Yes, it would be nice to say directly that people / projects will write our leeks instead of pretending to save the world.

It is very dangerous if the new entrants are blinded by the so called "Web 3" and only cultivate hopes and dreams without seeing anything wrong. The compromise with the web3.0 environment is also a blow to human insecurity and a lack of understanding of collaboration, making them less manipulative for the business.

This is the weakness of a venture capital firm. They don't know how the encryption field works. You feel like you can break through in your own style and be surrounded by kings. They think we can't see through their lies. Of course, the development of the situation is unusual. It's also a bad time as the crypto space has grown over the past couple of years and is just starting to become a venture capital hedge.

Web 3.0. loosely defined, no objects

“Build first, invest later” does not necessarily mean a preferred strategy for investors. So a company has no raw materials but a value of $ 1 billion will appear in traditional financial markets.

Of course, the Web 3.0 responses led by venture capitalists also point in the same direction.

First of all, what is Web 3.0? There is an ambiguous definition. It's so vague that no one can explain what it is. In some cases all of the blockchain is Web 3.0, but it has started working on older platforms like the NFT OpenSea platform and older companies like the central exchange CoinBase.

"Web 3.0 - Web 2.0 with Cryptocurrency and Blockchain".

When I research DAOs, I usually find that DAOs only have Aircoin and Discord channels. Almost all of the tokens were coins I had never heard of, but when I checked on CoinGecko it ranks 700th.

They are aerial fighters.

Now the Web 3.0 movement is loud. People talk about gm and wagmi creating a misunderstanding in the community when there is nothing real. I don't see any product or service. What I am seeing is a bad deal. This statement recognizes that new users (they will be referred to as “customers”) must continue to manage the value of the token. Isn't that a naked Ponzi scheme? ? Article link: https://every.mirror.xyz/y_WLA-Tk3VF5uPqHi-glDLVVfHxLUbjXakRI7SMISAs

The author is a venture capitalist.

Concerns about the Web3 boom

After thinking several times about the best way to learn cryptocurrency, I have come to the conclusion that DeFi is the best way. Before trading in an average market, understand the market mood and price movement, then switch to DeFi and you can gain a deeper understanding. Just increase your investment. Learn over time.

This idea can be drastic, but it's better to walk more, try harder, and fail before "graduation." Only then can you invest in riskier assets such as NFTs or very low market cap DAO tokens.

All I'm saying is that compared to DeFi, the whole of Web 3.0 / DAO is still in its infancy. Direct entry into these areas is contraindicated for new leeks as most have not been tested and explored.

Web 3.0 seeks to revamp the image of cryptocurrency. I have to admit that cryptocurrencies are inextricably linked with speculation or shady trading. Yes, it's not perfect, but that's why I love it. Not ashamed to tell the truth.

Some third parties feel the need to provide the crypto site with a new name and a good description. For example, in their new article “Silicon Valley's New Get Rich Express,” the “New York Times” calls it a cryptocurrency startup.

I do not agree with this change. This result is only Web 3.0 disguised by TradFi and TradTech (rooted Web 2.0). It is not important in the field of encryption. Again, these are just foreign gold miners. Don't say with disgust that when upset they will soon lose their place, don't say that they will hurt us again when we have to cleanse them from stress.

The word crypto is enough.

the last message written

In VC-based Web 3.0, DAO tokens outperform SPAC actions. In fact, it is worse in terms of speculation and volatility due to the nature of the currency. DAO can be a fraudulent task force with no commitment or actual product, just a description. You can vote, but you don't know how important it is.

I'll tell you the truth. As a former Degen, the goal of my life is to avoid whales and VCs. This reality cannot be explained as unsatisfactory if it is encapsulated in the "secure" Web 3.0 package for beginners unfamiliar with the crypto industry.