What do indie hackers think about the web3 trend?
It has big potential, but every conversation everywhere seems to be about making money from it...
I may be missing out in the long run, but I don't really care much about it. I find the argument about building new primitives intriguing but haven't been convinced to spend more time learning about it. No one can keep up with every trend and this is one I'm 100% fine with ignoring
I don't know much about dapps, except that they mostly seem impractical to build at this point. I'd love to know more about the advantages that make the difficulties worthwhile.
I'm not sure if NFTs count as web3, but I'm skeptical of their utility. They mostly seem like pump-and-dump get-rich-quick schemes. I do think the technology could be cool if they become supported by major platforms all over the web. For example, Twitter might add a "shelf" to user profiles where they can display their NFTs. But without support from major platforms like this, I won't be surprised if NFTs are dead in 2-3 years.
Social tokens are my favorite. Again, not sure if these count as web3, but I think they're transformative. They essentially allow people to become "investors" in their favorite creators, newsletters, bloggers, podcasts, communities, products, etc., without all the complexity and paperwork. I hope they catch on in a big way, and want to introduce them to IH itself this year if I can.
cool to have your opinion @csallen, and excited to hear that indiehackers might have their social token
I feel people often judge this technology too harshly based on the products out there today. I help run some communities in this space and people often judge the underlying technology based on some of the (often questionable) products they see (e.g ICOs, NFTs, etc).
I think web3 has a lot of potential in completely new types of products (I am particularly interested in the gaming space with ownable cross-game assets).
I think you might see more companies prop up on top of the blockchain to make things easier, like OpenSea for NFTs. They can set up APIs that will be easy to use and offer "eventual resolution" on the Blockchain.
I feel like big corporations will struggle trying to find ways to use this tech as it solves problems that they often don't have i.e working with untrusted users. The potential for Indie Hackers is pretty huge though.
yes, there is so much to build!
I don't really understand it yet. But one thing is clear... If you want to sell me a digital origin copy of something physical, I am not buying.
With nearly every idea in the blockchain space I face scalability issues. When you want to build things on the ethereum blockchain in an ideal world you only build the frontend and use the blockchain as a backend for all data storage. but if transaction fees are in a range of multiple dollars (meaning per database storing operation) it’s not really usable for the next decentralized version of e.g. airbnb, facebook or something new.
of course other blockchains also exist that have lower transaction fees and hopefully ethereum will solve scalibility “soon” with sharding and layer2 but until then it’s not really possible for me to build my decentralized product ideas.
same feeling! it's up to us to develop elsewhere than on etherum
Previously left some p negative comments on the subject. Would really like to hear more about the positive use cases now that Stripe has decided to start hiring for it (esp since many of their employees have publicly disparaged it in the past).
Happy to share a large bundle of links with anyone who is interested that has stuff I've been reading on the subject since ~2016 (it's a list of ~250+ tagged links just DM me via email or twitter) if you'd like a starting point for research too
interested by your bundle of links!
send me a preferred email via the info in my profile and I'll send em to you
I've been trying to analyze it as well. I did some research on dapps and most of them are related to finance (making money using ETH in the process). Haven't seen many developed dapps in other niches.
Would love to hear what others think about this. Many people predict this will be the future of the web the way things are going.
It's a marketing gimmick just like ".com era" or "web 2.0" was. It's basically new packaging for same old stuff. Think "brand new formula!" on the same toothpaste you've been using for 20 years. It's a way to make people think they are part of something fresh, exploring a new frontier, reinventing technology, etc. etc.. A way to make VCs take risk, expand their portfolio, cash in on new keywords.
I'm not saying the blockchain technology is just a fad (though I really hope NFTs are), but these naming conventions come and go and bring nothing new.
But cryptocurrency has failed spectacularly to be what it set out to be: decentralized finance, efficient, cheap, and fast way to pay for things. It's the complete opposite now. It's only practically used to pay for ransomware attacks and launder money. A giant pump and dump electric gold scheme. They tried to use blockchain tech for many many things for over a decade now and look what happened... nothing... just mining coins and public receipts to prove that you have money (NFTs).