WEB3.0: The Fable of the Dragon Slayer The New Capitalist Operating System

Note: It’s just a boring chatter after eating and having nothing to do during personal isolation

Recently, the million-dollar airdrop of Bored Ape Yacht Club surprised everyone, I could only pick up lemons and grapes, sigh, sour.

In this airdrop wealth feast, two jokes impressed me:

APE is airdropped to BAYC holders, each airdrop is 10,094 coins. If you sell it at 20, a monkey will airdrop $200,000. There are also airdrops such as SOS to big players in Opensea before, and a wallet also has tens of thousands or hundreds of thousands of dollars. Then the diaosi who lost everything, not only have no money, but continue to raise money to take over… The currency circle is really a good place to rob the poor and help the rich. 

Money flows to those who are not short of money, and love also flows to those who are not short of love.

 “Whoever has it will be given to him to make it redundant; whoever does not have it, even what he has will be taken away.”

This sentence in the “New Testament Gospel of Matthew” seems to be tailor-made for the currency circle.

The richer you are, the richer you are likely to be.

Big fish eat small fish, small fish eat shrimp, and people who desperately want financial freedom eventually become the fuel to help others financial freedom.

The core narrative of WEB3.0 is data sovereignty. Two important points are the redistribution of data ownership and value. What kind of data is more valuable?

A nested doll answer is that high-value behavioral data is more valuable.

Tear off the coat of WEB3.0, its core is still blockchain and Crypto, still the narrative of the Internet of Value, all individual behavior data can be financialized, transactions, market making, NFT purchases, interactions, donations, speeches, Complete tasks, run, learn… Relying on the blockchain, all your actions can be marked, tracked, and then financialized.

Financial capitalism , a concept used to describe the new form of capitalism developed since the 1970s.

At this stage, all economic activities are gradually financialized, and financial capital develops much faster than real economic capital and in turn dominates commodity production.

The financial industry is becoming increasingly “disintermediated”, capital has gradually realized globalization, symbolization and virtualization, the influence of financial capital on political power has become increasingly significant, and human social life has gradually become fully financialized.

The side effects are also obvious, the hollowing out of the real economy, the intensification of the gap between the rich and the poor, the manipulation of government power by financial capital, the shrinking of the middle class, and the frenzy of national speculation… until the financial crisis.

In the process of accelerating global progress towards financial capitalism, society has also been inspired by corresponding self-protection procedures, such as the subprime financial crisis in 2008 and the quantitative easing policy implemented to solve the crisis, which brought Crypto.

The birth of Bitcoin stems from the distrust and reconstruction of traditional capitalism, and it is a resistance to financial capitalism.

However, from the current point of view, Crypto, a product of social self-resistance, has finally been assimilated to a self-reflexive ending: instead of overcoming and resisting financial culture, the latter is used as a carrier to reproduce and become a new financial capital representative of ideology.

Of course, Crypto now has a more elegant and capable narrative – the Metaverse and WEB3.0.

This brings me to Dogecoin creator Jackson Palmer’s critique of Crypto on Twitter.

He pointed out that cryptocurrencies are essentially a right-wing hypercapitalist technology whose main purpose is to expand the wealth of its proponents through a combination of tax avoidance, reduced regulatory oversight and artificially enforced scarcity. Instead of “decentralization,” cryptocurrencies are “controlled by a powerful confederation of plutocrats” who use them to “constantly extract money from desperate and naive people.”

He concluded by writing that new technologies can make the world a better place but cannot be decoupled from their inherent political or social consequences.

An elderly person once compared Crypto to an electronic drug, one sip and you can’t go back, especially for young people.

Also, after experiencing a night of rushing a dirt dog and earning tens of thousands of dollars, who still has the mood to honestly enter the factory as a screw, and enter the traditional physical industry as a worker?

The elite and the bottom all love to take a sip and can’t put it down.

More and more elites from universities are involved in this industry. Students from the top universities in the United States, both Chinese and foreign, have entered the industry one after another, and the staff of the world’s top AI labs have resigned to study AMM (how to reduce slippage)…

In Southeast Asia, a migrant worker who was on the factory assembly line just now finds that he can earn more money than working hard while lying down playing games. Who would go to work honestly?

As a result, Southeast Asian chain tours are blooming everywhere, and the dogs are barking everywhere. It is foreseeable that the national plan of Southeast Asian countries to undertake the transfer of Chinese real industries may only be realized slowly in a dream.

Around the same phenomenon, two opinions diverged from the crowd.

A group of people believe that Crypto will pull mankind into the abyss of over-financialization, increase the gap between the rich and the poor, hollow out the real industry, and make a generation of smart minds addicted to the zero-sum game of speculation … Based on this point of view, they highly agree Crypto Ban in China.

Another group of people believes that Crypto will become a new capital container, a new WEB, with side effects, but this is the inevitable development of the times. After continuous repair and iteration, Crypto will transition from pure “monetaryism” to “technicalism”, and the innovation of production organizational structure such as DAO brings progress in production relations, which in turn promotes the development of productivity.

Who is right and who is wrong can only be witnessed by history.

A consensus is that Crypto and WEB3.0 are becoming more and more to be ignored. They are deconstructing and reshaping the narrative structure and operating system of capitalism. They are not only the product of financial populization, but also the missing puzzle of the Internet and Generation Z’s appreciation of OLD MONEY. resist…

It’s an equally brutal world of capitalism, money Darwinism, and survival of the fittest.

Meet on a narrow road, the brave wins! Courage is an underrated quality!

Last but not least, why am I writing this article?

The only correct answer is that I’ve run out of steam lately!

I criticize Crypto for having a cruel capitalist side, but the original intention remains unchanged:

Insist on buying high and selling low, and maliciously short the market.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/web3-0-the-fable-of-the-dragon-slayer-the-new-capitalist-operating-system/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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