[MrMatt]

As an official 'geezer', I too feel the world is heading in a sad direction...
I don't understand much (read: ANY) of this, but...as an investor, how would one invest now, to take advantage of this meta thingy? I do remember trying to explain Google, to some of my friends, centuries ago, when they never heard of it. AND, I remember shying away from Google's IPO, at the ridiculous launch price of $80US! "$80US.? That's CRAZY!" I said.
So.......What's today's Google??? Last night I "googled"🤪 these ETFs:BLOK, BLCN, LEGR.
Wonder where they'll be, in 5 years??

You've got to remember, at the start, Google had no advertising, then they quietly increased.
But they were always careful to stick to their core mission, and only put relevant ads. While others had popups and popunders and "interstitials", google kept it simple.
Now Google of course sees the money and advertises everything.

I was a bit slow, I bought my Google at $400/share Back in 2009, and even then I was feeling it was a bit 'speculative'

I think what we missed was how effective Google would be at monetizing search. They also managed to massively exploit Youtube.
The reality is if you want to advertise online, you're paying Google. That wasn't the case a decade ago.

 

[m3s]

None of the ETFs are much good. They're mostly legacy companies. Just buy one of the ethereum ETFs like ETHX. The vast majority of the NFTs, DeFi, web3 and metaverse is settled on ethereum.

It did not originate at facebook like @james4beach thinks. Facebook tried and failed to launch their own crypto libra and now they are integrating existing crypto into whatsapp and facebook instead

You have no idea how many $$$ in fortnite skins my son has bought.

If they were NFTs he could resell them probably for more than you paid. That's web3

That being said, I appreciate virtual communities, and I feel they're real communities. Maybe the metaverse will be the thing that really brings them to life. But if you look at current "Metaverses", ie facebook, Roblox, Fortnite (party royale), they're kind of lacking, and are really struggling with moderation, and control.

That's web2 social media not web3 metaverse. Web2 just wants to host and profit off you not nurture every community. Web3 is more community run and owned. Look up what a DAO is.

 

[m3s]

So.......What's today's Google??? Last night I "googled"🤪 these ETFs:BLOK, BLCN, LEGR.
Wonder where they'll be, in 5 years??

It's probably ethereum as the de facto virtual machine. You can use the many layer 2 for cheap but if you want to secure or settle higher value digital assets with smart contracts you pay ETH

Ethereum network revenue is now in the billions per quarter. Part of that goes to stakers for holding ETH to secure the network and part is burned like a buyback. So it's both a commodity and a capital asset that generates yield from fees

There are "metaverse" tokens but they are just ethereum tokens that run on ethereum network. They are more like in-game currencies or mediums of exchange. Better to hodl ETH itself

 

[MrMatt]

That's web2 social media not web3 metaverse. Web2 just wants to host and profit off you not nurture every community. Web3 is more community run and owned. Look up what a DAO is.

I know what a DAO.

The reality is web2 was just the internet catching up to where the online world was before the internet.

I think web3 has some interesting ideas, but I'm not sure they'll actually solve problems or make things better. In fact I think most of the the futurists of today will get it wrong.
One thing actually agree on is that if Facebook manages to "run the metaverse" it won't fulfil it's promises.

The interesting thing with DAO is going to be how governments will try to regulate them.
I'm not even sure how you decide where a DAO is domiciled for legal purposes.

 

[m3s]

The interesting thing with DAO is going to be how governments will try to regulate them.
I'm not even sure how you decide where a DAO is domiciled for legal purposes.

You can register a DAO in Wyoming as an LLC for legal purposes. I imagine the usual island states will setup legal jurisdiction as well as they do for LLCs etc. Really we should have some kind of stateless organization for these things

How does a DAO differ from a regular LLC?
Unlike a standard LLC which is managed by human members/managers, a DAO can be managed either by human members/managers or algorithmically
source

 

[m3s]

I think web3 has some interesting ideas, but I'm not sure they'll actually solve problems or make things better. In fact I think most of the the futurists of today will get it wrong. One thing actually agree on is that if Facebook manages to "run the metaverse" it won't fulfil it's promises.

Nobody ever knows exactly how things will play out but you can see a lot of things will be disrupted and I want to keep on top of that

When computers and smartphones came out I saw endless possibilities even though I don't know exactly what. Most dismissed it just like you do web3 now. In 5 years everyone will say they saw it all coming in hindsight lol but they didn't capitalize for xyz reason. There are endless problems for web3 to solve I see examples all day everyday now. Even just the vaccine passports for example

I really doubt facebook will dominate web3 like they did web2. They just see the writing on the wall and zuck is trying to stay ahead of it

 

[m3s]

The reality is web2 was just the internet catching up to where the online world was before the internet.

Web3 is also just the mainstream internet catching up to where the crypto world already is

The crypto world is not user friendly enough for the average bear. You have to somewhat understand how it works until there is a more user friendly interface.

Same thing for web2 you could do it in the 90s but grandma was not interested until there was a facebook

 

[sags]

While all this starts happening......what will the US government be doing ?

Crypto has been a minor irritant up to now, but one day the US will shut it all down and that will be that.

 

[m3s]

While all this begins happening......what will the US government be doing ?

The crypto congressional hearing last week was actually surprisingly productive. Did you watch it sags? Of course not

There was 1 boomer troll wasting everyone's time with unproductive rhetoric. Of course his top contributors are all financial firms and legacy banks.

I can't imagine he has many years left in congress anyways

 

[james4beach]

web3 metaverse blockchain blockchain DeFi... cmon

Don't tell me you guys actually fall for all this bull****. Just a bunch of techno babble buzzwords, pushed by a combination of marketers + con artists.

Try not to be so gullible.

 

[m3s]

You make a valid point for about 2 years ago james. Back when DeFi was new and just hitting $1B. Today it's over $250B and it's just the beginning.

Bonds are completely broken and smart money is starving for yield. Some forget that bonds have risk as well but they now have negative real returns. The riskier DeFi protocols are paying people to try them. The ones that have been around for years are pretty well established.

The yields will go down over time as the market matures but I don't see it going away. DeFi is like a self-driving bank. Capital efficiency and automation

 

[jargey3000]

ETH closed today at $4043US. Holy blockchain, Batman!!
Was anybody on here touting this thing back around 2017...when it looks like it was around $10/share??

 

[m3s]

Was anybody on here touting this thing back around 2017...when it looks like it was around $10/share??

I made this thread on it here last year when I started testing ethereum 2.0 and my convictions were getting stronger. DeFi was also just starting around that time

I accumulated regularly in 2019 but at the time I thought it would take 5-10 years to get to this point (Billions in DeFi and millions in fees/day)

The pandemic really sped up development. I thought it would become a victim of its own success but scaling solutions are already here. Metcalfe's Law in action now

 

[Fisherman30]

Personally, I recently deleted all of my social media accounts. Such a waste of time.

 

[james4beach]

Personally, I recently deleted all of my social media accounts. Such a waste of time.

I keep a Facebook account, and log in roughly once or twice a year. It's such useless garbage.

Oh sorry, my "Meta" account.

 

[Fisherman30]

I keep a Facebook account, and log in roughly once or twice a year. It's such useless garbage.

Oh sorry, my "Meta" account.

I was scrolling Facebook/Instagram one day, and just realized how much useless garbage I was exposing myself to. All sorts of uneducated opinions being forced down my throat constantly. If I want to learn about a specific subject from now on, I will get a book published by a reputable source. Can't even trust the news outlets to report factual information any more.

 

[cainvest]

I was scrolling Facebook/Instagram one day, and just realized how much useless garbage I was exposing myself to. All sorts of uneducated opinions being forced down my throat constantly.

This gets repeated many times and honestly, I just don't really get it. I'm on FB and use it to communicate with friends. Where are you people going to FB (and why?) that forces you to read garbage?

 

[MrMatt]

This gets repeated many times and honestly, I just don't really get it. I'm on FB and use it to communicate with friends. Where are you people going to FB (and why?) that forces you to read garbage?

If you scroll through the feed, you'll see clickbaity posts, and you can get sucked in and waste a lot of time.

 

[cainvest]

If you scroll through the feed, you'll see clickbaity posts, and you can get sucked in and waste a lot of time.

All I have in my feed is posts from a few groups I belong too, takes about 10-30 seconds a day to scan. No friend posts appear in my feed, only when I go to their page do I see their content.

I do see ads inserted but I just ignore those ... so who is exactly "forcing me" to read (or click on) content I don't want?

 

[Fisherman30]

All I have in my feed is posts from a few groups I belong too, takes about 10-30 seconds a day to scan. No friend posts appear in my feed, only when I go to their page do I see their content.

I do see ads inserted but I just ignore those ... so who is exactly "forcing me" to read (or click on) content I don't want?

Different experiences I guess. I just don't want any part of it anymore. I found I was getting addicted to it, which isn't healthy.