My case for ICP
I was just arguing with someone on a forum about ICP on a forum and hes my response.
I was questioned..
“ looks great but it we need to see it get some traction and build a decent user base - there have been a lot of projects that looked amazing and then for whatever reason they just didn't catch on”
I agree but having thought about this deeply, here's what makes me think it's different
1. Dfinity was established 4 years ago, and it's heavily funded. Apparently, they're sitting on $100 million cash, meaning I don't see them going anywhere, anytime soon.
2. All of the OG founders have stayed on, and seem to carrying on with the project. By this I mean, some of the world's best cryptographers and computer scientists. The team has added an extra 50 staff this year and just opened an additional office in Zurich. It was 200 people already ( all mostly with PHDs) so it's a mega strong devoted team. dfinity.org
3. They have an extremely long road map (20 years+ in some cases), which so far I can see they seem to sticking too. dfinity.org
4. Most of the developers and team members have staked their tokens for 8 years plus so every decision made is taken with longevity in mind
5. The DEFI ecosystem which is being built, is mainly being built around BTC. This for one is an extremely smart move IMO because A. it gives access to the biggest liquidity pool B. it allows institutional investors ie hedge funds etc access to yield on their BTC, without using a bridge. See case below
My case for ICP
Other urls found in this thread:
canscale.dev.
twitter.com
twitter.com
6. Because ICP can host websites, I'm already seeing online communities being built around various different projects. For example, on DSCVR, which is like Twitter, you can mint an NFT and then have access to a "portal", which is similar to getting access to a closed community on discord. This might seem minor, but eventually, you can buy and sell tokens all within these communities. It creates huge network effects and added userbases. The key thing here is that's being done within the same network I.e ICP. The issue I'm seeing now with other chains is that everything is fragmented across different platforms
7. Actual real revenue is already being generated (admittedly minor, but it's a start). This is such a leap forward and already akin to "web 2". See the tweet below
what forum ? are you french perhaps ?
What revenue?
What tokens are tradeable?
8. Eventually when the ecosystem is flourishing, you're going to see huge amounts of real "interoperability" between projects. I'm already seeing projects partner up, creating huge divergence of communities.
9. Scalability. A project being built of ICP can scale to millions or more. This is extremely important to developers. The infrastructure around this is being built quickly so the architecture to do so will become extremely efficient. canscale.dev. This is already a huge advantage over other platforms
10. I think we could start seeing competitors to the Lightning Network appear on ICP due to the BTC integration. I think the market is underestimating how powerful this could make BTC as a product, it makes it a fully-fledged digital currency, which can scale securely to millions, and be more programmable then before via smart contracts
The massive thing to remember here, this will be all community-driven. No one really owns anything, and it's all being controlled by lines of code in a decentralized system. I can assure people are far happier to promote a project when they has skin in the game aka the token
All of the above is literally being played out in realtime so dont say its a pipedream. ICP is literally light years ahead of the competition
ICP is a scam, and moonman is a scammer
icp is R1b
DSocial is a decentralized version of Youtube. Censorship free, which I personally think is very attractive given the macro conditions were seeing and political agendas
What's interesting is if you see the revenue built up, on certain projects and then they choose to tokenize (via a DAO), they will offer a profit share of the revenue. This is actually generating real yield for token holders. This video-sharing site has only been on for a few months and it's already generating cash flow. If they want to expand, they simply create a token auction and generate funding. If you think about this vs the traditional methods, is an extremely efficient method of creating a digital business. You cant raise funds easily in "web 2". This way you can.
This is just one example. They're currently 2500k projects being built. In one year's time, you could 100s of projects, all creating actual yield, not just speculative bullshit. DEXs will active because I might want to trade another project to the next, based on projected revenue streams etc, which can you see in realtime aka via the blockchain. As an investor, this is a gold mine.
Every time someone tries to explain how ICP works or what it is, I can't manage to make sense of any of it.
It's always just a bunch of techno babble.
Like pic related in word form
I'm guessing ICP shills like it that way, and they're hoping people will just think they're too stupid to understand and buy in anyway.
Yep. At least LINK is consistent. Remember the jeets shilling ICP as an oracle.
Have you considered that you are the new equivalent to a tech illiterate boomer?
>No one really owns anything
and you will be happy
...
Why does ICP standout.
No Gas = userfriendly, friendly UI
Just need an Internet Identity to use it, just a number where you can log on to a website anonymously. No need for usernames, email address, or passwords.
Data stored onchain, no third parties ie AWS
Fast, secure, can scale to infinity. Runs at web speed so hosts websites
Direct integrations with BTC/ETH. Greater security + plus enables smart contracts
HTTP requests - No chainlink or oracles needed
Fastest growing Ecosystem, or at least top 5. Supernova hackathon currently on, 2000k + more developers
Inbuild DAO mechanic so projects can raise funds. ICO 2.0?
This, I will break it down for brainlets.
>point 1
irrelevant
>point 2
200 devs managed to create a proof of stake based web hosting service? that's it? there is a scam project called flux that also has a hosting service the same way ICP does, it was made by complete retarded losers, I would expect 200 devs to come up with the best L1 in the world but they might as well just have forked bitshares.
>point 3
irrelevant
>point 4
irrelevant, plus VCs owning 80% is not something you do if you care about longevity
>point 5
vaporware and it's not going to happen
>point 6
I don't think social media will ever be able to run on a crypto platform. The business model is fundamentally about consuming your privacy, at huge scales, to sell you ads. You'd be working against the tech platform to attempt to implement that. Also, personally, social media is a plague that needs to be regulated out of existence. In 100 years, I doubt it will still be around.
>point 7
irrelevant, already exists
>point 8
what the fuck is this, irrelevant.
>point 9
while losing security, i.e. not scalable at all, I can spin up 1000 ethereum forks tomorrow and that's not scaling because It's missing validators that will secure the network.
>point 10
No BTC being on a centralized PoS chain is not like LN
ICP is more centralized than AWS. Really think about that.
when will you kill yourself
This is just one example. They're currently 2500k projects being built. In one year's time, you could 100s of projects, all creating actual yield, not just speculative bullshit. DEXs will active because I might want to trade another project to the next, based on projected revenue streams etc, which can you see in realtime aka via the blockchain. As an investor, this is a gold mine.
>ICP is more centralized than AWS
This.
You literally are NOT ALLOWED to run your own node.
i can already tell from the responses in this thread, the posters here haven't researched this project fully
This chain's eco is growing faster than you can say DAPPS. Seriously textbook J curve.
You are but you need to run it in a shithole subnet called badlands with shit performance, or you need to get approved through governance
Yep, ICP 2k within a few years.
approx 1000 nodes will be onboarded in the coming year
>Virtual machine you pay for on block chain
gay and useless
Indeed, the supernova hackathon is currently on with over 2500k developers
>the pretty websites always suck them in
wasn't flux some shitcoin made by some kid that pajeets tried to turn into a pump & dump