"Imagine if someone were to suggest that all web infrastructure should share the same database. That would rightly be seen as an absurd idea — but that’s what Web3 advocates are essentially suggesting. A blockchain is a distributed append-only database, spread across multiple nodes, but it is still one single database. In the name of decentralisation, Web3 advocates in fact seek to create a new form of centralisation around the blockchain."
> Cryptocurrency is one of the worst inventions of the 21st century. I am ashamed to share an industry with this exploitative grift. It has failed to be a useful currency, invented a new class of internet abuse, further enriched the rich, wasted staggering amounts of electricity, hastened climate change, ruined hundreds of otherwise promising projects, provided a climate for hundreds of scams to flourish, created shortages and price hikes for consumer hardware, and injected perverse incentives into technology everywhere.
"NFTs exist so that the crypto grifters can have a new kind of magic bean to sell for actual money, and pretend they’re not selling magic beans."
"The smartest thing about blockchain, Matt Levine wrote, is that the rest of the world was forced to “pay attention to those back-office technology upgrades, and to think that they might be revolutionary”"
"Blockchains are particularly attractive to thieves because fraudulent transactions can’t be reversed as they often can be in the traditional financial system."