I know it's hard to imagine under Capitalism, but lots of things work without a financial incentive. The early-ish internet was powered by web forums. There are thousands of community run game servers. Wikipedia editors and contributors are unpaid. Volunteers do things because they want to see them happen and they like the community.
Bitcoin has brought out the worst in many people, to the point where coal power plants were coming back online in order to handle the power demand of generating bitcoin, and miners were grabbing up as many video cards as they could, boxing out gamers from reasonable build budgets for years. Bitcoin is how society runs when it only cares about financial incentives. There are plenty of parts of society that run without a financial incentive at all just fine, and I'm hopeful the future of the web is a lot more like Mastodon than it is like web3.
Bitcoin has brought out the worst in many people, to the point where coal power plants were coming back online in order to handle the power demand of generating bitcoin, and miners were grabbing up as many video cards as they could, boxing out gamers from reasonable build budgets for years. Bitcoin is how society runs when it only cares about financial incentives. There are plenty of parts of society that run without a financial incentive at all just fine, and I'm hopeful the future of the web is a lot more like Mastodon than it is like web3.