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The Internet

Jack Dorsey's Block Scraps 'Web5' Project 41

Posted by msmash from the RIP-web5 dept.
Block will abandon development of its Web5 decentralized internet project and reduce investment in music streaming service Tidal to focus on bitcoin mining hardware and self-custody wallets, the payments company announced in its third-quarter letter to shareholders. The Jack Dorsey-led firm cited strong market demand for its bitcoin mining products and Bitkey wallet as key drivers behind the strategic shift.
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Jack Dorsey's Block Scraps 'Web5' Project More

Jack Dorsey's Block Scraps 'Web5' Project

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  • Trump (Score:2, Interesting)

    by AmiMoJo ( 196126 )

    I wonder if this is because Bitcoin and crypto is a favourite scam of the president elect?

  • 5 is right out!

  • Naming troubles (Score:4, Insightful)

    by posixively_true ( 10440450 ) on Friday November 08, 2024 @10:02AM (#64930513)

    With titles like "Block", "Threads" or simply "X", - whether it is the UNIX display system or the shitshow that was previouly called Twitter that was already bad before its takeover but somehow found a way to be worse - technology companies names have become very confusing.

    • This is why Mastodon and Bluesky aren't terrible names? If you can't make something clearly defined, use a common term in an unexpected way.

      • How long will W3C, ECMA and other standards agencies be asleep at the wheel when it comes to fixing the current web technology stack?

        The incremental band-aid approach for the last decade has only perpetuated the problem and let it compound.

        How about a simple one like making a simplified gRPC type of protocol standard in internet browser to server communication including streaming? There are approaches to it but they all degraded due to the connection less underlying HTTP protocol and stateless server side.

      • "If you can't make something clearly defined, use a common term in an unexpected way."

        Mastodon is not a common term. It exists but it is far from being used frequently so it is recognizable. However, I must argue that Bluesky is terrible since it is associated with the defunct animation studio who made the Ice Age films IIRC.

    • It goes waaaay back. "Excel"? At least "VisiCalc" made some sense.

    • ..technology companies names have become very confusing.

      You mean technology companies names have become very boring. Pretty bad when corporate naming creativity died with the “Verizon” consulting team.

      Hell, let AI go hog wild on that marketing. No way it could do worse.

    • Re: (Score:2)

      by ceoyoyo ( 59147 )

      Crazy, isn't it? Why don't they pick good informative names like Nike, Sony, Adidas or Toyota?

      At least we still have Coca Cola. Tells you exactly what the product is: a drink made from cola nuts and coca leaves.

      • That's not the same thing though. Nike, Sony, Adidas and Toyota are not simple English words, - which is the world language for trading, whether it is fair or not - they are either named after their founder(s), by an abbreviation of their original names or in the case of Nike to a mythological greek figure. In all cases, these are distinct, recognizable names. Using a common English word like "Block" - or a single letter in the case of X - is not the best for brand representation. That was the point I was t

        • Re: (Score:2)

          by ceoyoyo ( 59147 )

          All the names I picked are made up. Toyota is closest to being an actual word, Toyoda, meaning "rice patty."

          So you're not objecting to names that aren't descriptive, but rather using real words as names? Like Enterprise, Bell, Target, Gap and Best Buy?

          You must be extremely disappointed when you drink a Coca Cola.

          • "Bell" was actually not the name of a company but was used in the "Bell System" brand of AT&T. Since AT&T was a de facto monopoly in the US until the 80s, I don't think brand recognition was an issue since they had virtually no competition.

            I could be facetious by saying that I don't drink Coca Cola but even if it's true that would be besides the point. "Coca Cola" is sufficiently distinct brand name since it is composed of two words. Same thing as "Best Buy", it's actually two words, not a single E

  • Heard a guy talking about Bitcoin in a bar: (Score:5, Funny)

    by Anonymous Coward on Friday November 08, 2024 @10:44AM (#64930627)

    He said: "Fiat currencies are obsolete. They're total crap."

    His friend: "Really? Like what currencies?"

    Guy: "Anything - the Euro, the Yen, even the USD - all crap."

    Friend: "Uh Ok; so like, what's Bitcoin's worth then?"

    Guy: "Each coin is worth north of $75K right now."

    Friend: "What?! $75K?? As in USD??"

    Guy: "Yeah - over $75K USD each"

    Friend: "Wow. Bitcoin sure is a lot of crap!"

    • Yes, yes it is allot of crap.

      The USD is trending to zero in BTC terms.

      https://www.xe.com/currencycha... [xe.com]

      • Yes, yes it is allot of crap.

        The USD is trending to zero in BTC terms.

        https://www.xe.com/currencycha... [xe.com]

        All that chart does is prove it's a scam. But since you buy into that stuff, I think you're the perfect investor for the bridge and tulip bulb business I have....

        • It does prove USD is a scam that looses value overtime.

          Tulips had one bubble and popped.

          Bitcoin keeps crashing every 4 years, recovering and soaring up to higher highs, then higher lows.
          It has a 4 year cycle of 3 green years and 1 red one... like clockwork, every four years.

          A ponzi cant pop multiple times.

          Study what is money and Bitcoin.

          Good start would be Broken Money by Lyn Alden
          Or the Bitcoin Standard by Saiffadean Ammous
          Also Everything Divided by 21 million by Knut Svanholm

          "You'll spend 40000 to 60000 h

          • ...spend 40000 to 60000 hours a year....

            I can only conclude that you and this Michael Saylor fellow are part of the idiot electorate that put DJT back in power, if you can't see the problem with that quote without immediately reaching for a calculator.

            • I meant in a lifetime.

              But that wont change your ignorant reponse either way.

              Study Bitcoin, if only to have better arguments against it.
              Because right now, its amateur hour.

              HFSP

              • Congratulations - you've proven yourself an idiot:

                - Improper use of the word 'overtime'
                - It's properly written as "Ponzi", and it's always associated with the word 'scheme' in this context
                - improper use of the word 'cant'
                - you're unable to properly write up a quote, not to mention your inability to pick up on the obvious mistake of your own misquote

                Again, congrats. You're a credit to your species.

  • Pipernet (Score:3)

    by VeryFluffyBunny ( 5037285 ) on Friday November 08, 2024 @01:17PM (#64931091)
    So... still no Pipernet then?

  • I've heard of Web 2.0 (interactive web sites).
    And Web3, which was supposed to be blockchain-based web.
    What happened to Web4? And why does Web5 seem to be the same as Web3 (blockchain)?

    My head is spinning.

    But it's probably OK. Web3, 4, and 5 probably aren't going anywhere. Only a few actually want blockchain. For the rest of us, it's hard enough to get our executives to understand what software can do, much less, blockchain.

  • He just needs to rebrand Web5 as AI instead of crypto and it'll be fine

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