Web3 truly is a fucked up space. All of the fuckertry happening over here is out of control. Literally a dystopian shithole of scams frauds crimes theft and ponzi schemes.... As much as i try to defend web3 since im a web3 dev it's getting real fuckin hard. The more i work in this space the more i understand economics and how all of this shitshow flows.

Without diving into details, I'll tell you right now from a very deep economic perspective: i realized that all of these cryptos are just.. shams, quasi buzz words to keep the "investors" giving them money. Essentially like wolf of wallstreet scams mixed with bernard madoff multi billion dollar ponzi schemes. The "investors" earn a lot of money.... But on paper! As unrealized gains. And by the time they are able to withdraw their money, that money becomes worthless because of insufficient liquidity in the pool that has been drained from top to bottom of the pyramid. So the only person truly getting filty rich is the one on top of this pyramid - the founders!

After the FTX disaster that happened 2 days ago the prices of ALL coins dropped drastically and it isnt stopping. So much for your glorified "decentralization" 😹😹😹😹😹

How can something be decentralized if its enough for 1 influential man to tweet some shit and the company/token price value drops or increases within minutes? In this case the whole of crypto got sliced by 1 influential man... Again. It's only a matter of time until someone else goes bankrupt and cycle repeats... Again.

😎GoDaddy versus Web3 🦹🏿
Domain Name Eth.link

Service Could Lose Its Web Address:

Hey guys and gals, question for y'all. What's your opinion on Mastodon? Torch of the spirit of open source and decentralization? Good idea, flawed implementation? Wretched hive of scum and villany? Let me know!

does anybody here use diaspora*? for those who don't, it's a free (as in freedom) social network and protocol thereof, and it employs a decentralized, distributed approach. you can choose a "pod" to store your data, and search for people and content inter-podly. as a decentralization/distribution/foss enthusiast, i love the project and check regularly, but sometimes i get the feeling that i'm all by myself there, as i have no friends yet and all the content i see is just my followed keywords. (so befriend me, maybe? :D)

Today Tornado Cash (TC) discord deleted, website deleted, devs got arrested.

Heres my question: although i believe TC didnt have any bad intentions in context of to help people launder money, how come the government can that easily shut down ANY crypto/nft if they really want to?

What exactly is "decentralized" here...?

TC was not made for money laundering, just like onlyfans wasnt made to be pornographic website - the Users are the ones who determined its fate.

If TC had a way to block illegal transactions, then that would be a web2 company and not web3.

And now when TC doesnt block illegal transactions in order to remain "decentralized" and "anonymous", they got arrested and their system got shut down. Ironically, so much for "anonymity" and "decentralization"...

This means the government is able to shut down absolutely any and every crypto, including BTC if they really wanted to. The question now remains is: why are they letting it roll and not shut down the whole of crypto?

What if crypto was a part of the governments plan for a future financial world where they can control, freeze, block or shut down our finances with a click of a button just as easily as they arrested TC founders today?