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Comment by masa331 | Hacker News Reader

Can you tell me an example of what simply didn't exist five years ago and now exists bc of Web3? And the potential of the tech? Because i used to work in an agency and we develop apps and smart contracts for Ethereum and what they were doing were the most basic and primitive things, slow, fragile, incapable and very expensive to use. Not to mention all the environmental problems with PoW. Only reason we were developing them was that there were loads of money from all the hype around it. The actual usefulness was zero.

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Just today I paid for access to a data tool, icy.tools. I simply connected my Metamask wallet, clicked on “Unlock premium”, confirmed the transaction, and it was done.

Normally, I’d have to make an account (and doge the obligatory “sign up with Google” button), fill a form, enter my credit card info, confirm my otp on the payment site, check my email for an authentication link before using the product.

Along the way, I would have to share my data with multiple third parties - the SaaS tool, my email provider, my credit card company, etc.

With this web3 approach, I don’t have to share this data with anyone. I don’t have to fill out forms. In fact, if I got my Ethereum from a P2P source, I can be completely anonymous.

At this point in the internet, if you can avoid giving Google et al your data, its an absolute win.

So wait, you were finally able to.... pay for something online? That's possible for how long now? 30 years?

You compared process of one specific app with process of some other app. Yes, some apps are harder to register for, some are easier. Some want more info about you, some less. That again is nothing new. I can create app like icy.tools without collecting any usual personal info with normal web technologies also. No need for blockchain. I can also setup some payment method which doesn't collect that much personal info. So that also really isn't novel.

Regarding the anonymity - you always leave some trace. Even with blockchain. Yes, you can mix something but if someone really wants to get to you with enough effort he will.

And this traceability will only increase. Now it's like this because these services aren't regulated anyhow. Normal companies and payment options are heavily regulated and that's why they demand more info from you. Because they have to if they want to make business legally. And if i don't care about making business legaly, i can do it now also and i don't need to collect anything. So that again isn't anything novel.

There is simply no way to make payments without bypassing banks. If you think banks are great and have never ever been involved in anything bad, go ahead and keep on doing you.

If you think they’re not, come join us this side.

You: give your data to big corps, make no money. I: keep my data, also make wild money as an early adopter.

I see this as an easy decision

Is this substantially different from a website with a PayPal button? That's 2-3 clicks, max.

The only difference seems to be that with PP I pay with real money, and Web3 is with cryptocurrencies only.

What if I don't want to share my email, phone number, bank account, and credit card data with PayPal?

Its really disturbing to me that privacy and data rights get absolutely zero consideration even on HN.

Ok, but a ton of people (like me) don't give a shit about privacy. What's the advantage for us?

(I think there are huge advantages, like ownership, but just saying "if you don't care about privacy you are wrong" isn't going to convince anyone)

No one is forcing you to use it in that case. You can continue giving away your privacy to big corporations.

Meanwhile I'll not only keep my privacy but also make wild, wild money speculating on crypto assets. Win-win by all accounts.

I can buy pre-paid debit card from convenience store, that can be used for PayPal with an one-off email.

In traditional world, it's not hard to pay. But hard to receive.

With cryptocurrency, it's still not easy to convert to/from transitional money. Unless you can stay within the cryptocurrency for the whole cycle.

I can play a game (DarkForest) and sell items to other players in exchange for real money (xDAI) without trusting dodgy websites.

I used to Play EVE online and selling game stuff and even characters for $ was pretty common 15 years ago.

And what do you mean trusting dodgy website? You always have to trust somebody or something. I had to trust some rando while buying EVE character back then. Today you still have to trust Metamask, the game developers, the smart contracts behind the trades(or however it works). And not only in a way that they don't want to screw you but also that they didn't make any security mistake and it's not possible to hack the whole thing(which is common right). So what's novel about that?

How do I get started in using all this fancy web3 magic?

Install this browser plugin and start exploring: https://metamask.io/

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