Web 3.0 has become another marketing buzzword like "decentralized". It's a tokenized dystopia

https://twitter.com/mallardshead/status/1460082011746537473?s=21

It should be called the token layer, because you need to pay, swap, wrap, or stake them to do anything, and that's on top of paying gas with the protocol's native currency ETH. It's quite frankly ridiculous, inefficient, and capitalistic to the point it makes Web 2.0 look attractive. I mean, thanks for the airdrop, but I don't want tokens to manage an ENS name. I don't have time to vote on 50 different proposals a week on all the Dapps with all the tokens I've inadvertently accumulated. I don't want my web3 wallet Metamask tokenized like they plan on doing. I do not want anymore goddamn tokens. Why the hell do any tokens exist besides ETH exactly? If you offered a legitimate service, you wouldn't want users to pay in anything but ETH, and you wouldn't need to charge anybody in anything but ETH. Would it be too much to say that any Dapp with its own token is a scam? That's harsh, maybe shameless money grab is better.

Why can't I just buy a decentralized insurance policy with ETH? Why does the oracle have its own token? Why are all these supposed services denominated in their own token sometimes in addition to their own stablecoin all of which require ETH to move? Yield farming what? Random shitcoins benefitting the earliest adopters designed to be dumped immediately? What does UniSwap actually do? Nothing. They help you exchange Dapp tokens with other Dapp tokens, their own tokens, stablecoins, the EVM's native token, or wrapped tokens from other protocols doing the same shit. It's a like a giant closed testnet offering no value outside the game. In this way you almost gain a newfound respect for shitcoins like SHIB, which ditch the overly complicated money-grab of DeFi and distill it down into its purest form: a shameless Ponzi scheme. At least everyone's honest about it.

The way things stand now, this isn't a gateway to Web 3.0, this is a tokenized dystopia with little interest in freedom, and even less interest in simplicity—which is needed at a stupid level for this all to succeed commercially.

If ETH was respected as money (not gas, not currency), services would be denominated in it, nothing else. Money is not TPS, TX cost, or throughput, those are all features of a blockchain.

This is where Bitcoin can steal much of DeFi's thunder with their own take on it, especially with the long awaited Taproot upgrade that was activated yesterday. Take the Lightning Network scaling solution (still a couple years from completion) for example. No tokens. Only Bitcoin.

Or take a simple Bitcoin Dapp like SPHINX.

https://sphinx.chat

No tokens. Only Bitcoin.

That's how this is going to work. The EVM has to wake the fuck up. Because if I want to build a small business selling the truffles I dig up from my Perigord Black trees, it makes more sense for me to build on top of Bitcoin, especially if it has a P2P payment rail. It's extremely uncluttered and simple. I considered the EVM for this originally by the way, and was really excited a out it. But reality quickly reasserted itself, and I realized it just doesn't work, one because of the gas fees, two because I'd need a stablecoin or my own coin, three, because if I moved up to L2, it's a mess with 100 different scaling solutions, all claiming to have the best rollup many of which don't support commonplace hardware wallets . I even researched Polygon, and that made things even less practical.

Moving fast, being innovative, and breaking things is great. I just hope the EVM hasn't broken its own base layer. Enough with the goddamned tokens.

—Mallardshead ????