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Robᵉʳᵗ Graham Profile picture
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7 Dec, 10 tweets, 2 min read
Yes, web3 is 99% fake -- objectively so. The promise is "decentralized" stuff, but when you look at the details, you find that they are usually "centralized". Any interaction with the real world breaks the "decentralized" model.
Most NFTs point to URLs rather than a hash of the artwork. Websites like OpenSea respond to DMCA takedown notices. That means if you buy an OpenSea NFT, you can still have it taken away from you when OpenSea deletes the URL.
A lot of smart contracts can be updated by whoever controls the contract. Thus, in theory, while the contract itself governs transactions in a decentralized manner, the owner of the contract can re-assert control at any time.
There's no "hard" connection to the real world. Sure, you can get a loan of Ethereum based upon your NFT assets -- but you can't get a loan on the blockchain in dollars using your house as collateral. The inability to connect the blockchain to the real world is nearly fatal.
In other words, if a smart contract points to the stock market, oil prices, dollar exchange rates, and so on, you still have centralized trust in whichever entity is selling you the tokens on the blockchain.
If you buy an NFT concert ticket, but the band decides to cancel the concert, then you are still cheated even though you weren't (and couldn't be) cheated on the blockchain.
Whenever I look under the covers and actually read the smart contracts to see what's really going on, I find the reality doesn't match the hype.

Web3 is a web of lies.
Now, I'm a libertarian wacko and a big fan of blockchains, cryptocurrencies, and decentralized smart contracts. These things are important. It's just that the hyped things are mostly fraud.
Also, Ethereum itself is inherently centralized. Ethereum founders heavily invested in the DAO, and when the DAO was hacked due to a coding flaw, they rolled back the entire blockchain to recover their losses.
I mention this because Ethereum's founder is trending because he basically admits things aren't quite as decentralized as claimed.

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More from @ErrataRob

Robᵉʳᵗ Graham Profile picture
7 Dec
@taviso This is deep.
Reading the specifications, I can tell that the creators have deep understanding of both the code and the philosophical arguments.

I think the buyers have faith, and are immune to understanding.
@taviso That an NFT can point to a URL is not a flaw but a feature. The point of contracts like ERC1155 is so that anybody can tokenize things in the real world to allow them to be traded on the blockchain for other tokens -- but still requires confidence in the token provider.
@taviso "NFT artwork" is actually a tiny subset of a grander vision about tradeable tokens. That it really needs to point to a hash (or IPFS link) rather than a URL is thus something that doesn't come up often, when it's really the core issue of artwork.
Read 4 tweets
Robᵉʳᵗ Graham Profile picture
5 Dec
1/ This tweet is anti-science.

Older people are are more likely to vote for Trump AND to die from COVID. Rural areas have worse health care than cities and are also more likely to vote Trump.

The piece was about "disinformation" and "misinformation".
2/ The piece acknowledges this scientific flaw, but instead of reporting the age-adjusted analysis, publishes instead the unadjusted analysis that looks much worse.
3/ It also twists the numbers on the unvaccinated. The source the NPR article cites says 59% of Republican (and Republican leading) claim to have received at least one shot.

In comparison, only 50% of blacks have been vaccinated, according to the same source.
Read 11 tweets
Robᵉʳᵗ Graham Profile picture
5 Dec
Correction:
He wasn't fired for helping his brother.
He was fired for how he helped his brother, abusing his position at CNN in order to further that goal.
The twitter blurb gets it right: "exactly how". The technical details matter.
twitter.com/i/events/14658… Image
With political correctness these days, maybe CNN would judge some abuses differently than others, so it's possible that his helping his brother is important. But on the other hand, the core issue is still that he abused his position at CNN.
Read 5 tweets
Robᵉʳᵗ Graham Profile picture
4 Dec
"Hawaii" is trending because of blizzard warnings. People find this surprising.

Fact check: Hawaii has blizzard/winter-storm warnings almost every winter, because it's mountain peaks are 13k feet high and the snow line is 9k feet high.
Last winter:
hawaiitribune-herald.com/2021/01/25/haw…
2018 Hawaii winter storm warning
snowbrains.com/hawaii-winter-…
Read 11 tweets
Robᵉʳᵗ Graham Profile picture
3 Dec
Your regular reminder that "taking the 5th" is interpreted according to your bias. It's valid when it's your side, but proof of the other side's guilt.
Congress should be investigating 1/6, because the invasion fo the capitol during presidential confirmation is a Big F***ing Deal. But at the same time, congress is partisan. Anything a Trump supporter says can and will be aggressively used against them. They should stay silent.
Of course, the simplest solution is to give him a pardon/immunity, in which case, he wouldn't be able to take the fifth.
Read 4 tweets
Robᵉʳᵗ Graham Profile picture
2 Dec
In the previous thread, I asked a technical question about NFTs. Quickly got spam responses trying to grab my cryptocurrency private-key to steal all my coins. ImageImage
It all looks up-and-up, but of course, at the bottom of the form is where you lose your coins: the 12 words are essentially the "password" that controls your wallet and what hackers want to steal your coins. Image
And then this simple thread gets more bots trying to do scams: Image
Read 4 tweets

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