Recently [Matt Baer](https://write.as/matt) (creator of W.a) published [this post](https://write.as/matt/what-would-a-real-web3-look-like) on his blog about Web3 and Web 3.0 (which are differentiated in his post), and I agree with a lot of what he had to say about it (“it” being the Web, in general), except the Web 3.0 component of the post being framed as a (somewhat) *hypothetical future*, as it’s already here. It’s already alive (and doing well, in some corners), utilizing a lot of tech that has been here since Web 1.0 (see [this awesome post](https://write.as/slackz/tunneling-for-text) describing the enthusiasm behind using Web 1.0+ tech for Web 3.0).nnThough I DO agree with the bulk of what is said in Matt’s post. Web3 is nothing more than an over-hyped Ponzi Scheme (even if *I* can’t figure out the mechanics of said scheme), and it is about top-down (predatory) digital monopoly money, and ways of utilizing it to dig a deeper divide amongst citizens of the Internet – those who DO understand the technology of cryptocurrencies (and partake), and those who DO NOT understand that technology. And for those who DO NOT would (apparently/allegedly) see themselves “left in the dust” when…whatever Dystopian Dream comes to pass in the mind of gacked out Bitcoiners.nnIt (Web3) has maliciousness at it’s heart, and what will eventually (probably) happen, is to cause an FDIC crackdown on cryptocurrencies IF (or when?) the entire “business” of selling screenshots for profit becomes any type of sincere threat to anyone’s livelihood.nnUltimately, it’s a false flag – a (name) branding mistake “call it Web3! It’ll be the Next Big Thing(TM)” – and has *nothing* to do with a new technology being created, or any type of critical mass involved (like the WWW did/does) that could manifest into anything other than a bunch of tech bros competing to see who can rip off the other one faster through NFT scams and building quick and dirty “businesses” with a LOT of investor hype, because investors love/thrive on hype, and little else.nnThat’s *my* take. And my reply to Matt’s post. I liked reading it, and glad people are verbalizing (early on) just how foolish Web3 is being marketed as.nn

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