144 - Web3 Is Going Great!! with Molly White

✨ DEBRIEF | Unpacking the Episode:
https://shows.banklesshq.com/p/debrief-molly-white

After many episodes, we finally brought on a crypto skeptic, Molly White! We brought Molly on to take us out of our crypto bubble, to challenge our assumptions, and to steelman the anti-crypto argument.

Molly White is an engineer, public goods contributor, and an extremely articulate crypto critic. She also runs the web3 skeptic website: https://web3isgoinggreat.com/

In today’s episode, Molly gives us her central claim on why web3 isn’t actually going so great, why she thinks tokens make everything worse, and why—despite acknowledging some of the good—Molly believes crypto is a net negative to the world…and probably will be in the near future.

P.S. Keep in mind, this episode was recorded on October 7, 2022 — way before any of the FTX meltdown occurred this past week.

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Topics Covered

0:00 Intro
7:35 How Great is Web3 Really Going?
8:10 Headline Selection & Website Goals
12:50 Molly is Anti-Crypto
13:36 Crypto’s Promises
15:36 Are We Early?
17:35 Crypto’s Successes
20:23 Crypto’s Biggest Failures
21:50 Banks
26:22 Education Problem
28:10 The Future of Crypto
33:34 What’s Wrong with the Internet?
35:27 The Money Side of Crypto
37:38 Web2 to Web3
42:23 Starry-Eyed Optimism
54:04 Public Goods
1:02:00 Hyperfinancialization
1:05:55 Show Me Fix It
1:08:34 Environmental Impact
1:13:31 Crypto Idealists
1:16:52 Surveillance & Changing Business Models
1:20:40 Wikipedia
1:25:17 Decentralization
1:26:23 Advice For Crypto People
1:27:44 Closing, Resources, & Disclaimers

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Resources:

Molly White
https://twitter.com/molly0xFFF

web3 is going just great
https://twitter.com/web3isgreat

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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://www.bankless.com/disclosures