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Comment by Geee | Hacker News Reader

Web5 doesn't have any tokens. That's one of the main reasons why Jack created this. He wants to show that tokens aren't needed for decentralized apps. This is much more focused on creating something useful.

You are right. Web3 is just useless tokens and speculation, there aren't any actually useful projects.

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It uses Bitcoin. Some might consider that a token.

Yes, but in a different way. Web3 has a token for each app, and these apps are just marketing vehicles to pump the token, so nothing useful gets built. It's a thoroughly broken model.

BAT is pretty useful. I earned BAT by opting into Brave rewards and viewing ads. I donated about $20 to an open source contributor on Github (had him sign up as a creator).

My point is really that people say no token is useful but they only know about 10 out of 10,000. Imagine only knowing about 10 failed startups and then proudly claiming: the business model is broken!

Yeah, but you can do similar thing with bitcoin. BAT/Brave is cool, but every app having their own currency isn't useful, expect for speculation purposes. It's like having to use different currencies for buying different products in a grocery store.

Pretty much every major crypto exchange lists BAT. It's incredibly liquid. So I don't think your grocery store analogy works because in this case the grocery store takes like 100 currencies.

Bitcoin also has its own limitations compared to smart contract platforms. And not everyone is cool with buying the bags of Michael Saylor and Nayib Bukele.

We have multiple social media platforms and multiple search engines. We can have many cryptocurrencies.

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