I have been hearing something a lot lately and I just I have to get this off my chest. Do you mind if I rant for a minute?

As many of you know, I listen to other podcasts quite often, And I’ve been hearing more and more lately about how the new web 3.0 is now out.

You don’t have web 3.0? I’ll tell you what, send me a check to… actually, there’s no way to buy it (but a lot of people are trying to make you think that there is).

I’d like to know what smart person, what government official, who decided the day and the time that web 3.0 came into being?

Because, as far as I know, it’s still just the same web. It’s always been, hasn’t it? Yeah, there have been a lot of changes.

Let’s go back to web 2.0 when they were all about social media. You know what, let’s go back to web 1.0 In 1995. Oh, wait… No, web 1.0 was actually in the 1970s, maybe even the 60s when ARPANET was out. ARPANET was the first iteration of what we now know as the Internet. Government agencies would talk to each other (and some colleges got in on this) over this internet, which wasn’t even called the internet at that time. They’d have these bulletin board systems, and they would do log posts to each other. And that was how they would communicate back and forth; they would type log posts.

And then web 2.0 comes out in the early 2000s. And now we have social media.

And with social media, there’s all these bulletin board things where they’re doing log posts to each other.

(BTW, did you see it? In the 70’s they did bulletin board log posts. Today we do blog posts – Bulletinboard LOG posts. Yep, it’s exactly the same concept as it was 50 years ago).

Wait a minute. So in the 2000s, web 2.0 comes out with this social media stuff. And it’s really the same thing they were doing in the 70s. But now it’s web 2.0. Yeah, we could upload images, videos and audio in those blog posts; I’m doing my podcast on a blog post for you.

These log posts came out in the 70s, it’s nothing new in the 2000s. but they were saying that social media was new.

No, it’s not. Social media came out with Prodigy and America Online in the 90s.

So Web 3.0. This is this is a big thing that gets me. They say that web 3.0 is all about cryptocurrency, and it’s all about minting coins. And you can have coins that you can buy from different businesses.

So the coins purchase you interest in a business.  Wait a minute, isn’t that what the stock market’s been doing since the 1900s?

So basically, web 3.0 means that you can buy these coins in a business that’s not a C-Corp, it’s not a business that actually has real stocks in the stock market so there’s no accountability, there’s no SEC overlooking it to make sure that everything goes right.

You can just buy these coins in this business, hoping that maybe it’ll do something and hoping they’ll even do what they say that they’re going to do.

Let’s back this up a bit; Let’s go back to Bitcoin. Now, y’all know that nobody knows who started Bitcoin, right? There’s a group of people they’re guessing in what it was Iceland or New Zealand or something like that. I’m not even sure if we even know the country of origin right now.

But there’s a group of people that started it, and now it’s worth what, $40,000 per coin?

You know that these people, at any given time, could just take all that money and shut it down. There’s no government oversight in Bitcoin, and all these companies that are minting these “coins,” they’re digital coins of course, they’re not real but they’re they call it minting.

All these companies that are minting their coins bring in all this money because people are buying the coins.

And at any time the company could say, “we don’t want to do this anymore; Let’s just shut the coins off and keep the money,” because there’s no government oversight on all this “coin minting.”

Welcome to web 3.0 everybody.

Thanks for listening to my rant. I’m Dr. Ty. Of course, as always, click here to contact me if you want to tell me how stupid I’m being in saying this. Or even if you agree with me, I’d love to hear from you. Either way, Y’all have a great day. I’ll see you next time.