Thread by @BMBernstein

i'm long web 3 if it means decentralizing trusted 3rd parties

but IMO every attempt on a b-chain is not close to what it'll ultimately look like

progress in crypto is just inertia --Iterating on existing b-chains just for innovations sake

nobody questioning the premise itself

what if the right model to create a censorship resistant web isn't on a blockchain with a native token?

most goals can be accomplished with existing software. Do people forget the whole p2p wave?

governance of OSS already exists and so do distributed protocols (DHTs, IPFS)

feels like people are wedded to the token model from a sunk cost fallacy, and all the investment $$ of web 3.0 is still going into very similar ideas

but my bet is that FB isn't going to be disrupted by a social network on a blockchain that ICOs....

if it happens, it'll be through a combo of open APIs, new storage protocols & personal servers

the hard part is how to monetize it without a token? There's not a great way, so everybody keeps shoehorning a token in

this is a big reason why tokens were created in the first place

but for the health of the web ecosystem, maybe these protocols need to be funded just like OSS -- donations + value add services -- like bittorent or docker

ripping out the blockchain will allow investors to explore a much wider range of ideas, that may in fact be 10x bette

yes, bubbles are great if they bring capital into the right space. But they're not if people get distracted by the wrong ideas

blockchains aren't magical horcruxes that decentralize everything they touch