/biz/ - Business & Finance

>>51523467
if it says what it claims it will do, yes
but thousands of other projects have claimed the same thing
there is only one way to become extremely wealthy from crypto - you have to become an expert of an ecosystem
early btc users, early eth users, early bnb users, etc. all were perusing their respective ecosystems every day for years
there is hardly any doubt in my mind that early icp users will experience the same

layer1s are a poc for web3 dapps by the way - those responsible for growing the network will be rewarded financially through tokenization.
it's a paradigm shift that most of you will not understand - currently, only VC's and early developers benefit from network effects. that will change, for the better.

>>51523515
How much ICP to make it

>>51523515
can you tell me a bit more about icp and your last paragraph? want to dive a lot deeper in that whole ecosystem since it seems really promising

>>51523577
you won't get a reply because ICP does what other cryptos already do and he knows that. TWO MORE WEEKS AND IT WILL MOON

>>51523717
web content on chain
direct btc integration for btc defi and smart contracts
https api calls to bring in off chain data
reducing the IT stack 5T a year costs
all of this being done by icp and is not able to be done anywhere else
eat shit

>>51523799
>Bla bla bla, hold my bag.

>>51523560
depends what you mean by "making it"
5k-10k depending on your time horizon, in my opinion

>>51523577
think about the "free" apps we use every day - twitter, facebook, etc. these apps essentially rely on advertising for their business model by leveraging your personal data. we're likely nearing the top of their monetization curve, as there comes a point where these services will become increasingly regulated and the ux will become worse as these companies continue to milk out user data to stay afloat.

now think about "paid service" apps such as uber, airbnb, etc. these apps keep prices very low and attractive at the start, and then jack up prices as they start to see an influx of new users. drivers/hosts are the main reason for network effects, but they are not being incentivized proportionately for their efforts. we see VC's/core devs reap most of the financials, often through an IPO or company acquisition.

now imagine an ecosystem where apps are open with non-revokable apis that can be accessed by developers through simple function calls. tokenization solves governance + incentivization by allowing users to collectively direct the platform. this is currently only possible on the Internet Computer since it can actually serve web content - the reason you haven't seen any mainstream applications on other chains is because they rely on big tech for most of their backend and consist of apps that can't leverage each other.

ie: imagine building an on-chain uber that rewards governance tokens for 5-star reviews, timely pickups, referrals, etc. data from this app (such as a user's review system) can be leveraged in an on-chain airbnb, instead of trying to build up trust from scratch.

>>51523829
No way I need 30000$ To make it WTFF

simple answer: no

>>51523829
an open web that is free of platform risk is the bet at play. ultimately it boils down to this - do you think developers would rather build on proprietary platforms (amazon/facebook/google/microsoft) that is susceptible to api revocation, risk of de-platforming, and lack of interoperability between applications.
or do you think developers would rather build on a protocol (similar to IP/TCP) that allows them to freely build directly onto the internet.
time will tell 10 years from now. my personal prediction: big tech and jobs such as salesforce/SQL/AWS consultants will still be around, just like how COBOL programmers are still being hired by banks. however, the open internet built upon ICP will be flourishing with tokenized services and developers/users will naturally gravitate towards them since it will be a more seamless experience.

>>51523844
30k * 100 = $3M. Seems reasonable for making it.

>>51523829
Not trying to fud here, but why does any of this make icp token go up? I will buy if I can understand this

>>51523995
You need cycles to pay for storage and computation on the internet computer.
How do you get cycles? Burn ICP.
How many cycles do you get when you burn ICP? It is variable based on the current price of ICP. 1 Trillion cycles is roughly tied to $1.5 USD. You get more cycles from burning ICP when ICP's price is high and vice-vera.
This means that the price is automatically balanced based on usage. This doesn't take into account ICP needed for speculation, liquidity pools, NFT shenanigans, transaction fees (currently at .001 ICP) that other chains also have.

>>51523995
there's three ways you can use icp

a) convert to cycles for development (these cycles power the canisters that are responsible for running the apps - such as storing data, token transfers, etc.)
b) staked in minimum 6 month - maximum 8 year neurons, whereby the higher your staking period, the higher your staking APY. This currently ranges from roughly 10 - 20%.
c) used to swap for other tokens in the system. think swapping eth for uni, eth for link, etc.

the more dapps that are used, the more cycles that are consumed. developers will need to buy more icp to power their apps, since users do not pay to interact with apps, other than for paid services. as more icp is locked into staking periods, the supply goes down. ICP is still inflationary - which is necessary for an expansionary ecosystem - but supply/demand still plays a role. as long as developers are building apps that people use on a regular basis, the price should go up in the long term.
keep an eye on canister activity - it's been steadily increasing since genesis. don't be fooled by the price. there's a bull market in developer/user activity and a bear market in pricing, meaning this is a great time to buy.
https://dashboard.internetcomputer.org/

>>51524085
Interesting. Thanks for the response. Gonna read up on this more.

>>51524121
Thx!

>>51524121
>b) staked in minimum 6 month - maximum 8 year neurons, whereby the higher your staking period, the higher your staking APY. This currently ranges from roughly 10 - 20%.
I forgot to include this usage in my post. Keep in mind this is for governance. Not just to get a yearly return. You stake your tokens to get voting power on the network.

>>51524121
however - what incentive is there for developers to use the network, if they are the ones paying and not the users of the application like on other chains?

>>51524121
but why would I want to integrate crypto onto my website? It's extremely expensive to store large amounts of data on the blockchain. If anything, the lower the price of ICP, the more valuable it is to web devs.

>>51524251
also this

>>51524245
>what incentive is there for developers to use the network
Users don't like to pay. Look at the current payment model for any major website you use today. When's the last time you paid to post a tweet or do a google search? The incentive for developers is that it will be easy to on-board new users.

>>51524251
>If anything, the lower the price of ICP, the more valuable it is to web devs.
The price of ICP doesn't effect the price of cycles. i.e. If you burn 1 ICP today at $6.00 you'd get approximately 9 Trillion cycles, but lets say in a year from now you burn 1 ICP at $20 you'd get approximately 30 Trillion cycles.

>It's extremely expensive to store large amounts of data on the blockchain.
It is relatively inexpensive to store data on the IC at $5 per GB per month compared to blockchains like Ethereum or Solana.
https://internetcomputer.org/docs/current/developer-docs/deploy/computation-and-storage-costs

>>51524251
it's about $5 per year for a GB of storage on ICP

>>51524245
this is incredibly cheap and you're not paying for the traditional IT stack that comes involve with server/bandwidth/storage/replication costs

>>51523515
3c

>>51524328
>>51524333
Holy fuck moonman was right literally assblaster part 2

>>51524328
>>51524333
sounds actually quite normie-friendly to be frank, could be a major selling point. is this backed by (((international finance)))?

>>51524408
WEF ties… moonman is a young global leader

>>51524245
>>51524251
>>51524328 beat me to it, thanks
seachan has been running for months now, it has costed devs 7.09 trillion cycles, or about $10.5 so far. extremely cheap so far, and they haven't even optimized yet.
just like with any other internet service, as long as devs can generate a revenue higher than their computation costs, they will come.

>>51524408
>is this backed by (((international finance)))
Polychain Capital, Andreessen Horowitz, CoinFund, Multicoin Capital, and Greycroft Partners to name a few. I'm not sure if it's kosher or not at this point.
https://messari.io/report/an-introduction-to-dfinity-and-the-internet-computer

>>51524419
getting serious 18/19 eth vibes here. at the very least it's quite undervalued at this point

>>51523467
No, not in any way.
ICP hodlers desperately hang on after losing out in the biggest scam in all of crypto history.

>>51524452
HEIL MOONMAN

>>51524439
>>51524448
getting really bullish following this thread kek

>>51524471
>ICP hodlers desperately hang on after losing out in the biggest scam in all of crypto history.

>>51524439
That's actually how many cycles are in the canister right now both front/backend. The number of cycles that has actually been used on seachan is probably much lower

>>51524489
>scam
>biggest
Have you forgotten about Terra/Luna?

>>51524489
Just give it up man. There's plenty of other stuff out there.

>>51524778
>There's plenty of other stuff out there.
such as?

>>51524787
Moving out of your parent's place, getting your dick wet for the first time, buying your first car, house, prostitute. The list goes on

>>51523467
>icp the eth
No

>>51523467
>eth of the next bullrun
No

>>51523467
>talking about 50x multiples
No

ICP was just an exit liquidity scam by VCs, it'll never recover.
I post a lot of ICP threads on /biz/ just to keep midwit in line for the rope though.

>>51524439
Getting 2017 link vibes from your posts. Thanks for the spoonfeed.

>>51525420
It's such a fucking easy play, take it from an oldfag who has made money off of btc, eth, link, ftm, and grt. I hope it bleeds out to $1 so we can get an ever bigger return. 100x is on the table right now, but 1000x is possible if we drop under a dollar.

>>51523467
ICP SERVES THE FRONT AND BACK END, REPLACES CHAINLINK WITH DIRECT HTTPS REQUESTS, WILL INTEGRATE THE TWO BIGGEST CRYPTOS IN THE MARKET, IS BACKED BY ALL SORTS OF JEWS, AND HAS 250+ BIG DICK ENGINEERS CONTRIBUTING TO IT THROUGH THE NON PROFIT DFINITY FOUNDATION. WHAT ELSE DO YOU WANT IT TO DO? SUCK YOUR DICK?

>>51525576
It unironically could with icp powered sexbots in the year 2030

>>51523467
LINK bull market for next 5 years, then other cryptos will be denominated in LINK. All will pump in terms of USD soon

Yes. Yes it is. Keep the retards at bay while I keep accumulating. It’s a top 4 project without question, anyone that says differently doesn’t understand it.

Needs defi and other crypto-crypto integrations to go up. Wake me up when I can farm Ponzis on this shit and bridge across chains

>>51523467
for such x Anon, it should be on low caps with good utility like vra or those underrated Elrond tokens that are promising like zpay, utk, and Ride.

>>51525899
>bridge
nobody tell him

>>51523515
>>51523829
>>51523871
>>51524121
I don't need a shampoo all I do is poo, not in tha loo it's straight up vindaloo

gm sers buy icp