Draft blog post about my learnings using web3 and ethereum.
Crypto & web3 is not complicated
I had a misconception that doing things in web3 was complicated. That it required deeper understanding of how it all worked. That maybe I needed to have read a white-paper.
However in web3, at least on Ethereum, most people will just be using it as another web API.
A note on public perception
Crypto as a whole has a pretty negative image with all the scams and fraud that’s happened over the years. To name a few: FTX, Hawk coin.
Just mentioning crypto to an average Joe will usually get a suspicious look from them. People don’t trust crypto. And it doesn’t help that big figures like e.g. President Trump and his trump coin, while (as of writing this) it didn’t rug pull or turn out to be a scam, it has the structure of one with 80% of the value being held by a few insiders and/or affiliated parties and 20% being held by the public.
This perception makes searching for anything crypto related very difficult, including for educational and developer purposes. All search engines are pretty much useless (including youtube) as all you get is either tons and tons of price predictions and breakdowns. All of which deserve a huge amount of suspicion since nobody can time the market. Day trading is a risky business that requires tons of knowledge about the companies. Day trading in crypto is even more risky as its largely unregulated still. Nobody should be doing this.
It’s really quite unfortunate. Myself and many other developers (and nerds alike) enjoy crypto as a technology, wether we build with it or just like to learn about it. (I particularly enjoy crypto investigations that involve using some graph tool.) But we can’t do it in peace because SBF had to steal $8 Billion+. Thanks Bankman.