zlacker

>>donsup+(OP)
The last few weeks (months, really) has highlighted an incredible lack of discernment in the VC-verse wrt the thing we call web3. Now. I have no experience doing what YC does and don’t claim to, but the jig here was so transparent that the smallest drop of “street smart” should’ve been enough to set off some alarms.

We’re approaching a point where being passed over for “culture fit” is a compliment. Hopefully the embarrassment is enough to expand the founder vetting checkboxes.

>>okwubo+x7
I think this is something like AI -- where people who are calling it "AI" are often sales people/hucksters (I mean this as little a pejorative sense as possible), and the people calling it "ML" are the practitioners/people you should be listening to.

Once a phrase gains mainstream adoption and starts to rapidly lose meaning, I find that people who care dearly about that thing start calling it something else.

That said -- I really struggle to find the people who are really all in on crypto in a technical sense. Where are the people building cool things and trying to push the boundaries with crypto? Surely it's still happening but just hard to find it in all the debris/trash.

>>hardwa+Nb
As someone who went heavy into crypto/web3, it does pain me to admit that there really are no use cases besides making money. Which isn’t a bad use case by itself, but after using practically hundreds of protocols and projects, there’s not a single one I’d use if there was no prospect of making money off of it. My dApp usage has cooled off almost completely. And all data shows that this is true for most others as well

>>puranj+rf
> As someone who went heavy into crypto/web3, it does pain me to admit that there really are no use cases besides making money. Which isn’t a bad use case by itself, but after using practically hundreds of protocols and projects, there’s not a single one I’d use if there was no prospect of making money off of it. My dApp usage has cooled off almost completely. And all data shows that this is true for most others as well

I appreciate the candor -- I still hold out hope, thinking maybe PoS (with equally bought-in parties) could work, but at that point you might as well have regular old paper and pencil coordination/contracts...

The tech is novel, but the applications just don't seem to be falling into place at all... I even consider the ability for it to function as cool points (not NFTs but just a way to make and check exclusive tokens) is OK because it gives community builders a way to pull forward revenue. If I think of it like a self-hosted app for managing exclusive tokens then I can kind of see a use -- if before people didn't have an on-ramp to enforcing their own manufactured exclusivity then maybe it has some positive effects...

Unfortunately right now it looks like the ecosystem is just a backdoor to unregulated securities. Some of the automated exchange stuff (uniswap and co) seemed cool too though I haven't looked too deeply at them.