Here is a link to the article mentioned in the video:
In this video I discuss how one of the founders of Internet Computer calls most blockchains junk. It is taking a look at things from a technical angle.
I opt for a differenet viewpoint, not trying to debate the technical side of things. Instead, we look at the essence of where Web3 is succeeding as compared to where it is falling short.
▶️ 3Speak
First off...
I would argue that 5% is actually quite good.
The cutting edge of tech is always going to be 95% garbage.
Ask any venture capital investor.
Secondly...
I think of tokens as communities. Just because a random village in Uganda has no value to the world economy doesn't mean we should run around trying to colonize and centralize the world into an empire. That's exactly what we are trying to get away from.
The meme-coins and all the other garbage projects out there are casino outlets for new-money millionaires with a real function: to continue allowing them to spend their money and staying entertained while not leaving the network that made them rich. Until we actually build something better this is what we have. It is delusional thinking to just decide that these people need to leave their communities and spend their money elsewhere. That's not how this works.
We need to stop deciding what people should be doing and take a look at what they are actually doing.
Perhaps what we really need is better interoperability.
I would agree that 5% is not a bad percentage.
As for the gist of what you are saying, he is talking more technology but you are right. Until something is built, people will simply continue to do what they are doing. There is no reason to change.
Price action tells us nothing. Yahoo at $475 during the dotcom bubble ought to tell people that.
Hang around markets long enough and you see how neurotic they are. Ultimately, they tell us little about the value of what something has.
5% is greater than 0, we can still hold the 5%. 😁 @taskmaster4450
I believe Hive is part of the 5% but we will see.
I want to support Hive too. 😊 @taskmaster4450le
ICP token is currently backed by an YouTube and hive influencer called @jerrybanfield so if the CEO is saying this may be there is some truth behind it all.
Backed and promoted are two different things.
Wow! ICP! Impressive price action for a blockchain that claims to be a "third generation." I wonder how many gained and lost their money from that 400 USD ATH down to 13.47 USD now?
Commendable goals:
to dismantle big tech monopolies
to overhaul the conventional cloud service model, and
to create a more decentralized global network.
Aren't these our goals also here on Hive?
The battle between "compelling narratives" and "technological innovation," does not Hive have both?
So you base the value of something based upon market action? That is ridiculous.
In April 99, Amazon was $4.30, by March 2001, it was 49 cents.
How big a loss is that? What did price action tells us there.
Markets tell you nothing.
I am just stating the facts mentioned in the article. Though I believe in Hive's value proposition, I cannot ignore the excitement that price appreciation gives.
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If we are just talking about the main crypto, I doubt he would say this. But since there are a lot of meme and shit coins, with more being made almost every week, I think I agree. A lot of coins are useless, and have no purpose other than a pump and dump. Those that have purpose though are worth it.