Animated: Why Nobody Uses Decentralized Apps

[@ankitaharwal5886]

KZbinr: "Dapps are not efficient" Torrent: am I a joke to you

[@yacahumax1431]

how much do you pay for torrents?

[@newerest1]

Torrents are only popular because they can get around the laws. That is the point. There has to be something considerably blocking the ability of you to engage in normal, legal business for you to start to consider a dApp. For example, a good candidate for a dApp would be a truly free speech social media where terrorists and anyone could engage in their speech. Another would be another silk road. Those have obvious reasons why they cannot be hosted on AWS for way, way cheaper with way way better performance. You don't get the criticism.

[@ankitaharwal5886]

@@yacahumax1431 they are free

[@ankitaharwal5886]

@@newerest1 there are more than one reason of getting around the law. It has large content as well as very fast if many people are dowloading. Centralized system are very rigid and fixed, and depend on the power of center rather than power of consumer network.

[@qwook]

not many people are willing to seed anymore

[@gripload]

Everything we've witnessed in 2020 with the tech platforms and censorship shows why dapps are needed

[@JohnSmith-ox3gy]

We are DRIVEN out of the standard protocol. DAPPS are just the beginning. Ethereum may be slow, but it is already looking archaic.

[@silverreyes7912]

@@JohnSmith-ox3gy don’t worry my friend , cosmos is here!

[@rickybaez2970]

@@silverreyes7912 tell them about cosmos

[@kevinshiflett4449]

Who's going to pay the fees to create smart contracts on a social media website. Censorship is a by-product of centralization, but like he said, centralization will always be cheaper and more efficient. So are consumers willing to give up the benefits of efficiency and cost for censorship, probably not.

[@jessesmith3650]

Exactly

[@AdrianAzian]

All the points in this video are moot: 1. Yes the developer still calls the shots. But the developer doesn't just have to be one person or one dedicated dev team. Developers can be a *community* because it's open sourced. 2. All Dapps are not ICOS. This ain't 2017. Any developer can make a free dapp now with web3 libraries and and build it open-source with a community. You don't need to be an ICO scammer to make a dapp. 3. It can be cheap now. We have layer 2 scaling such as Polygon Matic, Avalanche etc. 4. Trustless is good. The whole point is not to trust anyone. Verify it don't assume. 5. Dude has it backwards. Centralized services are the ones being disrupted. People would trade a bit of speed for privacy and freedom from censorship and ownership of their data. But as mentioned we have layer 2 scaling solutions now. 6. The whole point of blockchain and trust is to make it immutable. So we don't want change. Make the protocol good from the start so it doesn't need to change. But, users don't really care about the underlying blockchain protocol. Users care about the application interface. Developers can always change and update the layer on top of the blockchain layer.

[@GilIglesias]

In the 90s everybody thought that emails were garbage because couldn't even send a photo (same view on computers, internet, floppy disks, etc.) This is going to take at least a decade or two for any use in the market and the idea exist because there is demand so we have to wait and find out in a decade I guess.

[@ApatheticCrow]

In the 90s everyone thought comic books would be super valuable and the speculators bubble got too big.

[@GilIglesias]

@@ApatheticCrow you can compare comic books with beanie babies but cryptography is another level, sorry but not the same lol

[@ApatheticCrow]

@@GilIglesias I can compare anything of value to anything else of value. The concept of bubbles and speculator markets does not change with what is being speculated on. I like some decentralized apps, but many of the tokens are more trouble than their worth.

[@GilIglesias]

@@ApatheticCrow oh yeah you can compare any market that speculators are betting on ( they speculate on any market by the way) but my comment was about how the crypto market is still in its infancy stages, not about speculators and of course there is going to be projects that have zero or no development taking place and scam artists. Just like the dot com bubble, probably over 90% ( 90% being conservative) of the crypto market will go bankrupt

[@jjgutierrez9941]

this aged well

[@slider910]

Just popping in Aug 2020 where Defi is exploding in popularity because of DApps. Lol.

[@detroiter4eva]

I think the Centralized Banking institutions were behind this video. Their were trying to discourage folks from using this new technology.

[@yacahumax1431]

@@detroiter4eva What part of the video is not true? Let ask how many people that are buying Etherium actually use an app running on it.

[@Numberofthings]

@@yacahumax1431 Axion.Network

[@turnerkirk4600]

@@yacahumax1431 yup. this is what I'm noticing as well. the information that I can't seem to find anywhere about dApps is how would I make a media heavy dApp. Like a photo sharing platform? nobody seems to be talking about the fact that you can't save terabytes of images on blockchain. That's not what it is made for anyways.

[@justsomeguy8385]

@@turnerkirk4600 lbry would like a word with you

[@leirgauk]

Wow, this video is flawed. Decentralizing creates a level of reliability and trust which is hugely advantageous for so many reasons - it makes the users able to trust the team behind the dapp and the product itself. What you said about ICOs is absurd. It's common the developers behind the ICO spend all the money raised on the product and minimum wages, and then accept a specified portion of the tokens instead of high wages, which is a brilliantly pragmatic marketing strategy if you at the same time can make sure the tokens have real utility integrated in the product. What about the fact that *anyone* can build *and* run dapps on top of a growing number of blockchains without permission from anyone? There are many reasons dapps aren't super popular in 2019, and it's mostly because we live in very centralized times (which is the reason why everything sucks compared to how it could've been). Governments run the internet (it should be fully decentralized and p2p based!), which is why you must give away all your personal info if you wanna acquire some of these utility tokens on an online exchange, and who wants to deal with that crap? Not everything needs to be decentralized, but many things that are currently centralized REEEEEEALLY FUCKING NEED TO BE FUCKING DECENTRALIZED!!!!!!!!!!!!!!!!!!!!!!!

[@CassandraMcCown]

leirgauk i love you

[@whalingwithishmael7751]

Any good resources on understanding peer to peer networks?

[@pan_dusan2963]

and what about the fact, record (tweet or comment) is unmutable and has to stay there until the community may decide to alter it? bit untrusful to me... also how do you ensure, that there is enough capacity for ledger in all nodes?

[@yacahumax1431]

But you cant control thing like price. You have to pay, whatever the Ethereum network is charging at that point. If price goes up, your customers will stop paying.

[@vsx8179]

Lol. this aged well.

[@AnANas00-x3p]

Now he has to pay millions for the bet he made with the bald guy, can't remember the name.🤣 It's time to move some coin's to wbtc Song 🤣

[@MrRobot01010]

Didn't it? Besides DeFi, I don't see dApps gaining any traction?

[@jessesmith3650]

@@MrRobot01010 blockchain cuties!

[@MrRobot01010]

@@jessesmith3650 I don't see any dApp usage in cities let alone blockchain yet?

[@jawickrock3443]

@Paul Stevenson hey Paul Stevenson, are u a programmer ?

[@wimstalmans139]

All the arguments seem to disappear when taking into account that finally, it is the decentralised community that decides if the Dapp will be used or not

[@kimgysen10]

It's still POS technology.

[@jackstarling2795]

Wrong it is the market

[@danielnagashima4285]

His first reason for dapps being fundamentally flawed is the "team" behind the dapp, but if the code is open source there is no single "team" behind the dapp. Didn't bother to watch the rest of the video.

[@thoughtsfromahead]

@@bobabonanza9488 If the code is open source, anyone can contribute. Edits might have to be approved before becoming publicly available to prevent system error, but all the same. I found the video pretty biased. Blockchain tech clearly has a foothold; Not being able to see beyond the present architecture is a lack of research. Can't hide that with graphics.

[@ClwSotw3GG]

@@bobabonanza9488 you cant edit the smart contract after deploying the dapp. and thats not how opensource works

[@Chino-bk9fd]

Got em

[@CarlosHernandez-lb3wq]

and then he begs for a tip in BTC! LOL

[@YoungDen]

Yeah but it was for a decentralized P2P payment system which he said is mostly a scam.

[@reviveaustraliamassagestudios]

Saw that and was thinking the same thing

[@newerest1]

@@YoungDen You didn't watch the video, he literally said bitcoin makes sense and has plenty of incentive to exist

[@shanecormier6731]

As a developer, I understand what he's saying.

[@crazybuildMC]

So, video is shit info?

[@Billionz-usdt]

Making sense or nah?

[@keptkozy]

All the people in the comments saying he's wrong, tell me about that killer Dapp that's got everyone talking? One that people outside this very niche internet community know about. I'd love to check it out.

[@theliftedbar4610]

NFTs and Stablecoins both are mainstream. Both are created by Dapps and smart contacts. Are they decentralized? No. But they are public and permissionless. That has tremendous value just as centralized exchanges and banking services has increased Bitcoin value.

[@harshitsharma9474]

2018 and now in 2022 everyone is moving towards dapps

[@ademidunadekunle8237]

I was scammed of my bitcoin and ethereum by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@harshitsharma9474]

@@ademidunadekunle8237 thanks I will definitely make sure this... 👍🏻

[@sriblock6987]

So much Gap in your understanding... You should just focus on the excellent animation skills

[@warsaw1393]

Mixed feeling here. In the end we have a controller, the govt or us who is more creditable

[@thebrainpimp136]

The comments are always a great way to discern the emotionally needed from the people who just want clarity of understanding. Crypto Kitties happened for a reason. Don't Forget. Remember

[@surferjim5221]

Your most professional presentation I have seen yet. Your speech flow is much smoother than when you are speaking off the cuff. The animation is very enhancing, but I imagine more cost (unless done voluntarily) and certainly more time. Matching your words to the animation brings a professionalism to the presentation that will resonate with more people. It's easy to follow and simply explained, and is a great format for educating the public who desperately need a reliable source of truth, presented in a way that is easily digestible. I hope you will be able to continue in this way. Great stuff.

[@logann001]

2nd that.

[@surferjim5221]

Forgot to give props to whoever produced the video and did the drawing. Great work.

[@surferjim5221]

You site no facts to back up your assertions. I'll trust Jimmy for now. He has proven to me he knows stuff. You have not.

[@surferjim5221]

Number Four, how are your Dapps working for you? How many do you use? What are they used for? Are they centralized? Who controls the code? Can it be changed after execution? Who validates transactions? Can you sync a full node to validate your own transactions? How many other ppl are using the same dapp as you, or any other dapp for that matter? Where are the financial incentives to maintain the blockchain that runs your dapp on it? Does it have a completion date- when the dapp is finished doing the task it was built for? Do you have to buy underlying tokens to use your dapp, using BTC or ETH as a means of payment to acquire the dapp funding mechanism? If dapps are so good, please point to the current working dapps and their use cases. Jimmy makes his claims, then backs them up with a logical argument. Even if he is wrong, he states a point, then backs it up with facts he believes are valid. You have done none of this. If you want this debate, I'll go on for days. Better start gathering your facts, and start typing. You have a lot to prove, if you are interested in defending your position. I happen to be very open minded and suspect of what anyone says. I require fact based proof before I change my mind on something. Jimmy provided that, and I have verified his claims through other sources. So for now, no one has a valid argument refuting his assertions. If you wish to defend your statements, please provide provable and verifiable facts to support your claims. I'd love to learn some new stuff, and I'd love to be shown truth wherever it exists. Just saying a thing is true or not, does not in itself, prove or disprove truth. Verifiable facts are what's needed. I look forward to those checkable facts.

[@IoniAppelberg]

Thank you!

[@mridularul1]

This video would've been good if it wasn't so biased from the start. Great animation but bad content.

[@adultlunchables]

I really appreciate this video even if it's biased because I'm trying to learn and I want as much information I can get both positive and negative.

[@Rundik]

Can you provide some examples of his bias?

[@MelroyvandenBerg]

The proof is that he only takes Ethereum as baseline. While there are so many ways to decentralized the internet without blockchains like IPFS.

[@punkysuen]

@@Rundik At the very beginning, it illustrates an example of a decentralized version of Twitter which cannot remove or edit any previous tweets. However, when it goes to the point that the existence of Dapp's author means not decentralized which leads to potential censorship, it obviously contradicts to itself.

[@SidneyJupiter]

The main problem is developers think only about the decentralisation, rather than making a good new consumer app. The problems not with the decentralisation, but with the execution. Decentralisation, when done right, would be beneficial to both developers and consumers

[@zyansheep]

The problem is we need good decentralized protocols before we can even begin to compete with popular centralized apps. So far the killer apps for decentralized protocols are torrents, crypto, and nfts. This is mostly because the technology needed to create applications fast and scalable enough to compete with centralized apps (that have had multiple decades of head start) simply doesn't exist yet.

[@RJAlmond1]

What about identity and data ownership? Do you think we will all just 'trust' Facebook, Google etc with all our data forever? I don't think so. We need some sort of decentralised alternative and there will be a market for it as the blockchain tech evolves. We have never lived in such a data-rich, privacy-poor time and this video ignores that and Is, like you described DApps, fundamentally flawed.

[@newerest1]

...so the solution is to put all my private data on a decentralized platform? replicated forever, across thousands of computers?

[@singularityawaits9298]

Patrick Carey actually yes, you data will be more secure, private and controlled by you. That copy you talk about makes the data authentic. And is all protected under the best cyber security know to man. Educate yourself a bit about how a blockchain works before saying something out of ignorance.

[@newerest1]

@@singularityawaits9298 lol So many problems with what you posted it's hilarious. I'm a professional in a HIPAA compliant role and just laugh at the idea of a public blockchain housing all my private data. I would prefer it to be on paper than that.. How do you solve the Oracle problem? There has to be a central authority that allows any information to be published to this medical information block chain. Otherwise fake medical history will exist. The whole idea is silly, it adds nothing..I can only assume you have bought into dApps heavily. Sorry for your loss.

[@Chumazik777]

@@singularityawaits9298 So what happens if I get hacked and my decentralised identity information stolen with no central party to appeal to? This is fundamentally flawed, non-practical and not going to be adopted.

[@cs92]

@@newerest1 What is your thoughts on using a blockchain based ID only to authenticate who you are and in conjunction using a decentralized network for routing the traffic and file/data storage? Your data would not be on the blockchain all you would be using the blockchain for is for access to your personal cloud drive using a decentralized network. Also if this network could stop DDOS and malware attacks in the network by it's design do you think a system like that could gain traction? Also within this system the Dapps would be able to use the resources of your smart phone by design and not rely on the slow blockchain to run therefore eliminating the slowness aspect. It would also use sidechains in the network making each Dapp it's own chain eliminating the issue of scalability. Could a system like this work to bring Dapps to the masses?

[@id104335409]

I actually like this video. It's eyey opening for those who don't look at the sky, but look at their feet, to see if they are not about to fall off a cliff.

[@alterego157]

It's good to do both.

[@arianlucatero7649]

Yes the people not looking at their feet and what they are standing on will fall because blockchain technology is here to disrupt all those old fellas to comfortable and not improving with the times. They banks felt it, the billions of dollars moving from their bank accounts into crypto. They had a choice, join crypto or be a thing of the past.

[@adityavartak007]

How world has changed in just 3 years ! blockchain bubble

[@ademidunadekunle8237]

I was scammed of my bitcoin and ethereum by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@Hardstuckval420]

I mean, this is just obviously wrong, he's implying all future dapps will be designed as he describes them. watch him take this vid down in 7-1- years

[@JayJaymusic]

It's a bilingual video, tho. He speaks English and a lot of shit.

[@Hardstuckval420]

he also just made the argument that trust is more important than actual security

[@thebrainpimp136]

Unless trusting a design team that you don't know is ACTUALLY SECURE

[@JayJaymusic]

The best way to actually trust is in the idea that YOU DON'T NEED TO TRUST. That's why blockchain is the best way.

[@powerralley]

I give you credit for leaving this video up when time proved you very wrong.

[@buster9879]

this hasn't aged well

[@jordanp8063]

This is a joke to anybody who has done any research on blockchain/crypto/dapps. Of course they're not perfect. They're an almost brand new technology. Meanwhile big tech apps are based on programming that has been around for decades. Nobody uses dapps because...well, nobody else uses them, so there is nobody to talk to on them. But if we take it upon ourselves to get our contacts to go there, they will be better than current big platforms. Also the concept of an ICO is no different than startup funding or an IPO, which is a proven way to bring an effective product or service to the market place --- a way of doing it that offers returns for everybody involved, be it developers, funders, or consumers. This is so evident that explaining it makes me feel like I'm talking to an 8th grader. Also if a dapp is open source, which some are, then there is complete transparency. So that's an egregious error at best, but more likely a deliberate spin tantamount to a lie. Also the fact that dapps are, as you say, money-making schemes is NO DIFFERENT THAN ANY BIG TECH APP. They all make money off users --- only in a more intrusive and less transparent way, with much greater dangers to privacy. Let me explain something very simple to you, which you are obviously to partisan to comprehend: if there is no money, there is no app to provide users with a platform/services. How else are the developers going to feed themselves and get the resources they need for development? Its basic business. And its what all good business does: it offers a new and creative way to provide services. This appears to be content created in the interests of big tech, and probably by big tech.

[@morne1317]

Thank you for telling him and us the real truth, disliked the video

[@astroid-ws4py]

Well said

[@cadi95eldo]

wow this didn't age well.

[@MelroyvandenBerg]

I really don't agree with all his statements here.. Because you can write dapps that are NOT based on blockchain technology, but rather just p2p. Good actual decentralized examples are: Mastodon and IPFS. Or even LBRY (partly based on blockchain). Mastodon is a very good twitter alternative, without any currency attached. IPFS is an decentralized replacement of content addressed storage. And LBRY all figured it out, very good platform actually. E-coins or blockchain are not suddenly the answer for all your problems or decentralization. The internet is based on decentralized network of computers, waaaay before we got bitcoin non-sense.

[@ks_snuggles]

Obligatory "This didn't age well."

[@prochay]

Is the centralised argument valid, though, as ascribed to developers? Because one could say the same about Bitcoin.

[@notme3945]

Pretty sure the whole BIP process on GitHub makes harder to say this about btc. Btc has had what 10 years now to become more and more decentralized. Most projects today don't even use blockchains and are no where near the level of decentralization btc has achieved.

[@themunter6533]

Unless the BIPs that tend to pass are passed by the same group of developers, the process looks to make it like anyone can influence the development path but that's not exactly true. It could be argued that Ethereum is more decentralized than BTC and its been around for far less time. (www.ccn.com/genesis-london-conference-study-shows-ethereum-is-more-decentralized-than-bitcoin/)

[@SolanaNewsOrg]

Correct. There is lots of flaws in this presentation but the sheep will be memorized by the beautiful (outsourced) information graphics.

[@notme3945]

@@themunter6533 that article is making assumptions that only make sense if you don't actually understand how it works. I honestly couldn't read past, “The data shows that the [Ethereum] nodes are both in the latency space, and also geographically more distributed round the world." Implying I can't run 100 nodes via VPN to make them look decentralized and around the world from my grandma's basement. I challenge you to run a Bitcoin a node and then try running a Ethereum node. That article is pure propaganda. I'll read the rest and make an edit if I made a fool of myself, but I can already tell this articles going to make my eyes bleed. Idk how you can argue that ethereum is more decentralized when everyone is like, "in vitalik we trust". Lastly I just want to add that 99% of the projects are just copying btc and rebranding it as it's own thing. "Sharding"....Really? "Gas".... Come on... Let's just call it what it is.... LN & tx fees

[@notme3945]

Okay I'm done... I'm sorry, "Our study found that the majority of Bitcoin nodes, 56%, are in data centres,” said Sirer." As someone who runs a node on* a Proof of Shit computer, I can tell you it doesn't take nearly as long or as much space. The BTC block chain takes 20gbs and the ETH block chain is already over 1 TB. I'm sorry but if you read the news, watch the, news, or follow the heard, they'll always lead you off a cliff. Gl

[@MaxMohammadi]

The simple fact that this guy says “dee-apps” tells me that he knows knowing about blockchain tech

[@despareint]

That's the correct pronunciation

[@PatrickAyelle]

Yes!

[@panic_seller]

Welcome to the Future, DeFi Dapps is NOW bigger than BANKS

[@charan775]

not really lol.

[@ademidunadekunle8237]

I was scammed of my bitcoin and NFT's by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@daf6491]

spot on. I don't necessarily agree with the view that DAPPs will NEVER be useful/popular, that could be true but I don't think there's sufficient proof for that conclusion (non-sequitur issue). . . but the critique of DAPPs weaknesses/issues is spot on.

[@fooferbob9230]

Yup, if you ever see someone on KZbin saying something like: "Whoa! This new Dapp is DOPE!" Or, "We are hitting it BIGGG with this new Dapp!" It's not just someone fool making a video its a developer or someone who is playing the part fir them.

[@indtaxes]

yeahh

[@jaynigam7744]

Half knowledge can be ridiculous as well 😂

[@fox220]

Although I love your videos, this single one shows flawed, short sighted and assumed thinking throughout. Why do you assume there is only going to be 'one' development team per dapp? You use gmail as an example, but how many email apps are there that intercommunicate across one shared but agreed protocol? Not just email but the web itself, and the protocols it sits on top of. Why do you think currency is an acceptable application despite not really being a currency yet, but then do you use modus ponens arguments that because there are no apps now that dapps as a concept aren't useful? Why do you assume that dapps even need to be decentralised if the underlying protocols (blockchains) that govern them are not? These are early days, and I'm surprised you missed the core point when in other videos you are so articulate in your thinking. Another thing to consider - I believe the most transacted blockchain ever is STEEM... a dapp...

[@thebrainpimp136]

Preaching to the choir doesn't make converts. Success in the real world does. Steem vs All The Shitcoin waterfalls...

[@Luckywave268]

1. No single point of failure from developers if the codebase is open sourced. 2. All startups have high risk profiles. Buyer beware. ICOs simply carry a higher risk profile due to lack of regulatory oversight. 3. I agree they can be expensive to use, but relativity is important to keep in mind. Is Augur more expensive relative to its centralized equivalent? Also what are the added benefits a user acrues from using a dapp that they may be willing to pay more for? ie open access, sovereign ownership etc. 4. Trustless technologies have the potential to become the corporation, the intermediary of service delivery. i.e remove single point of failure. If you believe corporate decision making is driven purely by the profit motive to serve customers your are viewing the world without the grey bits. 5. This is true today. 6. This is actually a fair assessment and a limitation of protocol level application.

[@johnnylingomusic]

With all Due respect Jimmy, and I do respect the work you do for Bitcoin, I disagree with your thesis here. Dapps (pronounced Dapps not D-apps) haven't even begun to crack the surface. You are looking at them from the wrong perspective. Focus on Bitcoin only please! The work you do for it is fantastic, stop wasting time spreading FUD for other platforms. Its a waste of your time and energy

[@tysk5729]

but theres quite a few ( dapps being used right now ) :P

[@lightbinger]

Commenting from 2021, and DApps are exploding.

[@ademidunadekunle8237]

I was scammed of my bitcoin and NFT's by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@kingtrawal]

Jimmy, make an update to this video and defend yourself!

[@Ultimaker12]

Does this vid still cover your perspective?

[@flowstate5465]

Dapps can become more prominent despite Jimmy's beliefs. It all depends on the public's ability to adapt. We all now have smartphones in our hands. we all drive cars and we all travel further than any of our ancestors did in our lifetime. Just because there's a team behind something doesn't mean that there is no chance for them to be influenced by external factors. Power in a blockchain is a function of influence on improvements (via independent contribution or through marketing), and involvement in the security protocol (via miners, nodes, master nodes and other forms of investment in hardware). Although it is true that many centralized entities are more efficient now, stating that we never should dream of a more decentralized app for say a Twitter is tunnel vision. Decentralization is a spectrum. Our lives are so far centralized that it's normal, but if you're involved in bitcoin you are part of the population that arguably should be championing the movement toward more a decentralized norm. If you aren't interested in such things maybe you should follow the path of least resistance and just use fiat since trust in a corporation vs a distributed team gives good reason to believe it might be good enough money for you. I hear the fed does a good job as long as you and everyone you know doesn't care to look at how they are undermining your best interests

[@SoldierOfTwilight]

So, care to actually refute the points or are you just going to say "it will happen" and "decentralization is a spectrum"?

[@flowstate5465]

I wouldn't say that I am directly contradicting his claims and that his arguments are flawed in any way at all. IMO they are very well thought out and based in sound logic. I would just venture to say that he is a little brash with the language he uses defining DAPPs as "fundamentally flawed". He uses such strong language as if the possibility of a network coming about that has less centralized control than thousands of corporations and governments that already exist is even possible. The very fact that Bitcoin came into existence should encourage someone to believe that there is a spectrum of better systems out there for economic interaction. Who's to say that only the most optimal decentralized, public monetary policy called Bitcoin holds a use case for the future of economics? I suppose a blockchain expert would be the only one with the gusto to say something like that, but if you look at the spectrum of the current global economic sector, there are tons of external factors that affect where and what people spend their money on. Most companies and governments we work with today are "fundamentally flawed" and not as efficient as they could be and yet we are forced to use them. For now that is fine and possibly the only option, but if we run into problems with say censorship on Twitter, suddenly the use-case for tweets that are more expensive, but more censorship resistant is worthwhile to the user. Here Jimmy assumes that "the centralized party has all the incentives to behave well" since they want business, but to what degree is this true? Ultimately Twitter wants to make money, they don't care about acting in good faith. The moment that human error introduces greed into the equation a corporation's margin goes up and the trade-off to the consumer becomes worse and worse over time. Is it possible that a team of people could create better conglomerates where the trade-off doesn't degrade as much as centralized operations due to human error? Could users then extrapolate that value by participating in both the security side as well as the development and usage? The only reason I can even ask such a thing is because Bitcoin exists. The degradation of money is much less at risk in BTC once a user understands all aspects of how it works. Trusting many nodes and miners, as long as they aren't colluding, gives one a much lower risk of degradation since they can have a say vs having to blindly follow a central entity's ideas. The only way a DAPP could be viewed similarly is if it also provides the same level of trust among participants, but who knows? It may not even need to be so airtight to provide better trade-offs.

[@GilIglesias]

In the 90s everybody thought that emails were garbage because couldn't even send a photo (same view on computers, internet, floppy disks, etc.) This is going to take at least a decade or two for any use in the market and the idea exist because there is demand so we have to wait and find out in a decade I guess.

[@kerimgueney]

Can some people tell me a couple decent dapps? So far all the dapps I've heard and read about are pretty bad and lackluster.

[@PricessYilin]

I feel so deeply sorry for you..... u sounds just like my grandpas when they first heard about internet...... I wish u the best..... poor thing

[@upgrade1583]

DApps can be be hard coded as immutable in case you weren't aware.

[@AhmedSam]

With all due respect, this doesn't mention comprehensively the strength of DApps. TBH, I've been using Brave browser for a while and it's worth to say I'm so happy with it. In fact, it's faster, smoother and way safer than my ex-Chrome. The data it self is block-chained, means no one is going to keep them. It's so simple. I'm sure the ICO flaws can be fixed with more organized decentralized management.

[@spotagenius1417]

hey bro which app do you use for animations

[@reviveaustraliamassagestudios]

SpOt a GeniuS dapp haha

[@bjk837]

Bitcoin is the greatest example of how disruptive a successful “dapp” can be. Arbitrarily framing applications that are clearly more suitable in a centralized environment within the context of a dapp and saying that it’s future is doomed is a bit lazy. We’ll need to fundamentally change our way of thinking about what should and shouldn’t be decentralized.

[@kimgysen10]

Try making a useful dapp and tell me how it goes for you. The most basic use case of making transactions costs lots of fees, and other cryptos like trx just suck. No professional team, the plugin full of bugs. Might as well just use standard tech and paypal or visa. Tell me what's the difference. Security? Dapps aren't worth it, and from I've seen it's not even a percent worth the quality of what we're used with standard server-client tech.

[@charan775]

bitcoin has no practical use. you can't just say since it's price is so high it's successfull. doing transactions with bitcoin will take lot of time not sure how bitcoin will used by mainstream audience

[@bjk837]

@@charan775 I take it you've never heard of layer two solutions like the Lightening network? Bitcoin's initial use case of acting as a currency is still possible (a good test will be El Salvador), but the community has long since seen it more as a really good store of value above and beyond anything else.

[@charan775]

@@bjk837 but I still dont find any disruption. yes el salvador implemented it. but it's only a disruption if it is replacing or about to replace the current sytem. and that's the point. there'll be market for dapps sure but not going to change existing service

[@bjk837]

@@charan775 Bitcoin disrupts inflation. That IS the disruption. If you don't know how inflation (i.e. the destruction of value) is at the root of many problems by all means look into it. We're in the middle of a transition process now. You may not understand that yet, but you will in the coming decade.

[@OliverWoodphotography]

Tell it to the artists and content creators now making millions with NFTs in the ethereum space.

[@DodaGarcia]

This comment aged worse than the video.

[@wknost]

Wish I had come across your content 3 years ago. Thanks

[@shengjunsun4075]

Thanks for the great video! So, does it mean even if Ethereum improved on transaction speed, gas fee, and smart contract language, and ICO token distribution mechanism smart contract still wouldn't make sense to you?

[@thebrainpimp136]

People buy food because it does the job. Until blockchain solutions are better than non blockchain solutions, why spend more to keep getting less?

[@indtaxes]

@@thebrainpimp136 correct.

[@CoreyChambersLA]

Not true. Dapps are popular and have been gaining in popularity.

[@ademidunadekunle8237]

I was scammed of my bitcoin and ethereum by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@jessedampare1379]

Why are u pronouncing Dapps as “DEapps”

[@katjerouac]

It doesnt matter. You can call them D-Apps or Dapps. Its refering to the same thing.

[@josephmills871]

Thank god I’m not the only one

[@MrRobot01010]

@@josephmills871 oh just thank god, thank the good lord, oh gracious goodness

[@leonidmorozovskii454]

The Year 2020: Uniswap Dapp beats the liquidity and transaction volume of Coinbase charging 0,3% per each trade

[@newerest1]

i'll be impressed when it cracks 500k daily users

[@therecyclingguy256]

How about them gas fees?

[@therecyclingguy256]

@Tao Zen Qi Sounds great....BTC for me.

[@alterego157]

It's just a whale parking spot until the absurdly high cost of smaller transactions is solved. You have saving apps that offer say 6% to 8% APY, but you have to pay 60-70% fee to deposit. Of course, with zero guarantee the daap and your coins will be there tomorrow. It's just ridiculous. The greediest and the most scummy bank you could imagine inthe 4th world looks infinity better than that. At the moment daaps are fueled almost entirely by irrational hype and hope there's a bigger fool in the line behind you. The idea of permissionless and decentralized apps indeed has a great potential. But the idea is one thing, the implementation is a whole other ball game.

[@DwAboutItManFr]

The fact the devs have reputation doesn't mean they have real power, plus DAPPs must be FOSS for this very reason, scams are not a certainty, if the blockchain is efficient with transactions then so is the app, trust is BAD, there is nothing preventing daps from havign good UI and the fact they are hard to change is a virtue.

[@ademidunadekunle8237]

I was scammed of my bitcoin and ethereum by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@babyluz5154]

Say that is like say In 90 s why nobody uses internet.

[@sepgh2216]

You are talking about technology which is something that does not remain the same every day, because it improves. Future will be decentralized! Consensus algorithms are becoming faster and decentralization can have many benefits that you didn't mention! Also, a team being open about their source can help everyone to modify and fix problems and actually help building something meaningful! Maybe for now many DAPPs were scams or didn't deliver a product but you cant predict the future just by these facts!

[@the1windwaker]

Before Java the net was static. Just because something is not does not mean it will not be

[@percy832]

"Blockchains are horribly inefficient". Why then are you asking ppl to tip you some BTC?

[@kilrain_dev]

BitCoin is even less efficient, but it doesn't have to be because it's not meant for creating applications. It's a very secure store of value. That's all it ever needs to be.

[@tomwright9904]

As a technical point you are wrong about bookmakers being trustworthy. The can and do identify winning accounts and block them. Exchanges are a different matter

[@sonofjack00]

Wish he would have talked about BIT TORRENT!!

[@50kT]

BTT sucked

[@tullahnazari1035]

it's Dapps, not D-Apps. I feel like he is saying it like that on purpose. lol

[@machtundrebel3127]

Its okay, you can't always be right.

[@marcsteiner4305]

Great video format. I guess it costs something😜. I agree with several points, but what I do not understand is: what if a „centralized- normal“ app from the App Store works together with a Blockchain like a hybrid (D)APP; why such solutions should not be valuable in the future? Augur as a example could just store the conditions on the Blockchain and all of the rest is just like a normal app? And they will be solutions for updates of smart contracts in the future in my opinion...

[@notme3945]

You can be a centralized group or entity that creates an app that's open source(if you want). Anyone can download software or makes changes to it. In a way, OS software is kind of decentralized by nature. In the case of Augur, sure you can just have a centralized app but why do you need ANOTHER slow expensive blockchain when we already have the Bitcoin blockchain? All txs can be done via a centralized or decentralized app but with the btc blockchain.

[@trattorritutto251]

people do not inform themselves

[@nisargsheth5153]

Curious to know to the dislikes on this video but YT hid those -_-

[@leonclarke1731]

March 2021 $40.92Billion locked up in defi , looks like he was right, "nobody will ever use decentralized applications" LOL!!

[@charan775]

I mean the locked value is just investors value if I'm not wrong.

[@sanda5587]

This video is just stupid... who hurt you, Jimmy? :(

[@the1006]

take a look at audius or aioz

[@ademidunadekunle8237]

I was scammed of my bitcoin and NFT's by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@nkucarrd88]

This just showed up in my recommendations lol oops

[@josephmills871]

Am I the only one that calls them DAPPS and not DApps?

[@punkysuen]

Watch this video in 2021, and found the points are jokes.

[@Febrocas]

hum. Could you make a video on how can Dapps attract users? For instance, P2P was super necessary. People had to had their music and movies and porn. What if Dapps distribute value through tokens? And somehow people give value to them?

[@mpcleary2245]

Lots of assumptions and opinions in this video presented as thoroughly reasoned positions. Not surprising if its true that you are a btc maximalist as posted by someone else. Dapps (not dee apps), regardless of the utility of those currently in existence, show the superiority of eth and other cryptos to btc. Doubling as decentralized computing platforms cryptos like eth demonstrate infinately more utility than less functional cryptos such as btc.

[@sKprmAN]

so u can say centralized bitcoin would always be easier faster and cheaper too?

[@Babovand]

Personally i´m not a fan of DeFi/Dapps, But this video sure aged like fine wine. A response video would be great! just to hear your opinions from then and now. Great video.

[@filipkrastev7256]

it aged like milk and an industry hovering the two trillion dollar mark gives no fucks about hating boomers

[@ademidunadekunle8237]

I was scammed of my bitcoin and ethereum by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@joshalmaty]

Props to Jimmy for not taking this down. This one did not age well...

[@Techonsapevole]

STEEM and casinos on EOS have real users

[@thebrainpimp136]

Didn't say they don't

[@anarchic_ramblings]

Brought to you by Paul Krugman.

[@Purcella13]

Reminds me of filecoin

[@ademidunadekunle8237]

I was scammed of my bitcoin and NFT's by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .

[@nion456789]

Plz check ur programmingbitcoin issues and pull request in github

[@SoliditySam]

You got it wrong mate.

[@notme3945]

Apps are inherently decentralized. So just take an app, make sure its Open Source, and add lightning payments via BTC. Now you have an Open Source app that you can "trust" that is also decentralized by nature because anyone can download it/make changes to the app. You don't need a volatile crypto with its own expensive/tiny/slow blockchain to create a decentralized application. Anyone who tries to tell/sell you the opposite just wants your money.

[@themunter6533]

how about Virtual assets from some games stored locally on Steams servers? I don't trust them to be around Forever but I would like my virtual asset even if they go under. Adding lightning to this doesn't mean i'll always have my virtual asset. Saying that anyone who tells you the opposite just wants your money just means your mind is to closed off, Not saying that the majority of things out don't just 'want your money' but this is speculative future space we are in here.

[@elcanaldelaaron4439]

But nowdays the trend is that Dapps pay you.

[@TheDecoder]

it's too soon to judge Blockchain and dApps, it's like telling people your USB Drive is incompatible in 1980

[@toordog1753]

Lol you are so wrong.

[@IIlIlIIIllII]

This guy has never heard of smart contracts I see

[@therecyclingguy256]

You're out of your league bro....He's a core dev.

[@themunter6533]

Trust is good.......

[@IsaiahSleziak]

You're confusing the starting point of innovation with the endpoint of innovation.

[@krekre806]

DEEP...very deep comment...i like it

[@howlround]

2021 checking in....I bet one of these thumbs down is from Beeple.

[@mikebrar7800]

sportsbooks dont play fair, there known to cancel accounts without notice

[@ChromaWay]

While the problems highlighted in this video, under all the exact circumstances mentioned by the author could be a reality, we see things in a more optimistic light. It's why we're focused on addressing some of the core problems of dapps with Chromapolis. Come say hello and check out why we think dapps will fly. Pssst, It's called relational blockchain : )

[@thebrainpimp136]

How many of you are MAD because you've tied your PERSONAL finances to DAPPS?

[@poetdemedici3505]

The good pessimist, all your points confirms why Dapp is a great platform and will be apart of my patented innovation. Thanks for the reassurance

[@lilcryptomitch5944]

First Time I ever heard of a DEE APP. I thought it was just DAPP

[@TheRomeogigli]

Justin Sun says 'D-apps' too... :-)

[@VinceAlvare]

This man has a full keg of Fudweiser

[@theflipkartelcom]

Didn't age well

[@ryz177]

It's now 2021... I just watched this content.... Thanks for this, now I need to do the opposite of everything you said

[@ademidunadekunle8237]

I was scammed of my bitcoin and ethereum by someone posing as Admin.. please make sure you authenticate and secure your wallet , even if they mistakenly get access to your private keys or phrase, they still can't get in once it is secured and authenticated by dapp secure .