Nostr Web Client

“Web 3.0 is a scam?” — That’s a common and fair question, especially with all the hype, jargon, and sometimes shady behavior in the space. The short answer is:

> ❗Web 3.0 is not inherently a scam, but many scams and overhyped projects have been built under its name.

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✅ What Web 3.0 is supposed to be:

Web 3.0 refers to a vision of the internet that is:

Decentralized: No single company controls everything.

User-owned: You own your data, identity, and (sometimes) assets.

Blockchain-based: Smart contracts, crypto wallets, and tokens underpin applications.

Interoperable: Apps and services are more connected via open protocols.

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🚨 Why people call it a scam:

1. Pump-and-dump tokens: Many projects created worthless tokens, hyped them, then disappeared after taking investor money.

2. Fake decentralization: A lot of “Web3” projects are just centralized apps pretending to be decentralized.

3. Tech not ready: The user experience is often clunky, and many promises (privacy, scalability, ownership) aren't delivered in practice yet.

4. Speculation over value: More focus on trading coins than building useful products.

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🧠 So, what's the truth?

The idea of Web 3.0 has value, especially around digital ownership and decentralization.

The execution so far is mixed — good tech exists, but it's buried under noise and grift.

You have to be selective: Like the early internet, 90% might be junk, but 10% could change everything.

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✅ Legit examples in Web 3.0:

Bitcoin: Sound money and censorship-resistant value transfer.

Ethereum: Programmable smart contracts enabling DAOs, NFTs, DeFi.

IPFS / Filecoin: Decentralized file storage.

ENS / Nostr / Fediverse: Experiments in decentralized identity and social media.

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🧭 Final advice:

Don’t write off the entire movement.

Don’t trust anyone without understanding what they’re building and how.

Follow value, not hype.

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Discussion

Erwin Hessel 7mo ago

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