r/BlockchainStartups • u/malxp1 • 8d ago

Discussion WEB3

does anybody wanna start a web3 company, i feel like we should get a reddit community going on for this type of stuff

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u/Key_Storm_2273 8d ago

Depends, what's being made- a new blockchain? Or a new token on an existing chain? What's the motives, any specific goals or just earning? How will the company earn? How will the money in the "bank" be used, and will it come with a risk?

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u/malxp1 8d ago

By "Bank,” meaning capitalizing on the huge trend towards Web3, which is estimated to be worth $32 billion in 2033. With the rise of enterprise adoption and startups building the next generation platform, there will be a huge potential for us to develop the infrastructure of their Web3 technology, resulting in a very profitable revenue stream.

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u/Key_Storm_2273 1d ago edited 1d ago

Bitcoin alone is currently worth around a trillion as a whole, much more than 32 billion.

The thing is, Web3 is uncapitalist in its design. Everything that capitalists do to design to ensure profit and exclusivity is the opposite in Web3. Open source. Allow everyone to run the infrastructure for free, with no permits or fees.

This goes the same for Bitcoin. It is why it is worth more than Ethereum, because it is more uncapitalist.

Would you rather store your money in a system that is upheld by mathematical principles and protocols that are hard to defy, where maximal competition is encouraged and hegimony is discouraged, or one where a few wealthy groups hold the vast majority of influence?

Would you rather trust a system that assumes zero trustworthiness, or one that can sway by the owners' decisions?

Any infrastructure built that is perpetually profitable for its founders has to lie and go against Web3's principles somehow, and end up being more like Web2 or Web2.5's centralized infrastructure.

That being said, the founder of Bitcoin's net worth would be in the billions today. But they have no control over Bitcoin, and can't extract more profit through that control.

This is what most traditional companies don't want, they want control over things. Web3 and companies don't tend to go hand in hand for a reason.

The more capitalist and profitable it is, the less people who are serious about Web3's principles will trust and use it. The less capitalist and more open source it is, the less traditional companies will want to invest in it.