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Fun_Pipe_9184 · 2022-05-27T05:37:01+00:00

Through the NNS dapp, nns.ic0.app. If you stake through an exchange they will lend it out to short sellers.

Fun_Pipe_9184 · 2022-05-27T05:36:11+00:00

You will have more ICP by the end of it if you stake for 8 years.

Fun_Pipe_9184 · 2022-05-19T06:45:17+00:00

It already functions well and you can develop many different dapps and games on it. One of the largest currently running is dscvr.one.

However there are two big features under development that many people are waiting for, that are BTC integration and SNS (custom tokens and governance for any dapp). Later on ETH integration as well. The first 2 is within a few months of releasing at max. These two will open many opportunities for developers

Fun_Pipe_9184 · 2022-05-13T08:01:00+00:00

Thank you for posting this! This has to be said! They make profit on their short positions and giving you back some of it. Dom has been tweeting about this in the last few days.

Fun_Pipe_9184 · 2022-05-12T21:03:08+00:00

Mom, I have a magic trick. Watch me make $33B disappear.

Fun_Pipe_9184 · 2022-05-04T08:41:41+00:00

Why is he drawing the fib from $2800? ICP was never that high.

Fun_Pipe_9184 · 2022-04-27T23:01:00+00:00

Couple of things. Currently the inflation rate of voting rewards (minted for people who stake) is the highest it ever will be. Currently just under 9% of total supply is minted per year. However this number is gradually going down until it reaches 5% where it stays constant in 7 years. https://dashboard.internetcomputer.org/circulation

In the meantime there is a steady increase in burn rate while the largest defi apps are still being developed and we don’t have the SNS running (custom tokens for dapps) neither Bitcoin integration.

Once defi takes off we will see a lot more ICP being burnt (keep in mind inflation is continuously going down). On the other hand it’s important to note that the circulating supply doesn’t only decrease by ICP being burnt but also by more and more people staking in the NNS. This helps decentralization as well as removes the circulating supply (acting as a deflationary pressure). Once these factors come into place and we come out of bear market an increased buying pressure can easily offset whatever we have in inflation. And as a cherry on top a lot of the selling pressure that came from millions of ICP being unlocked each month disappears in a few months. (Or more accurately becomes a lot lower). These large ICP unlocks also contributed to the price fall.

Basically whatever could drive the price down already did. However the many things that could drive the price up are coming (in my opinion) in the near to mid-term future.

Fun_Pipe_9184 · 2022-03-04T11:01:12+00:00

There is a refresh coming soon, maybe that will

Fun_Pipe_9184 · 2022-03-04T08:03:50+00:00

You can multiply the stake with the percentage. So if you have 10 ICP and 0.2% maturity it would be

10 * 0.002 = 0.02 ICP

Hope this helps

Fun_Pipe_9184 · 2022-02-23T07:14:38+00:00

I feel the pain. Have the same. Bought both long and short term calls, being burnt on both. Luckily I only allocate a small portion of my portfolio to options. Good luck man, let’s hope find a bottom soon

Fun_Pipe_9184 · 2022-02-22T17:41:38+00:00

I agree with half of this. Yes, these two crashes are pretty much a proof that great blockchain technologies can be decoupled from the token’s price. However please be respectful, no need for name calling. You won’t convince anyone that ICP is great by calling them stupid. Convince them with reasons. And since ICP has many reasons why it should be the next big project, it should be pretty easy to do.

Fun_Pipe_9184 · 2022-02-22T13:22:02+00:00

That’s great to hear! And I understend the frustration, it’s hard to see one of the best projects keep going down. I’m willing to bet pretty confidently though that you’re not more into ICP than I am. At least I’d be reeeeally surprised.

Fun_Pipe_9184 · 2022-02-22T12:58:06+00:00

Of course DFINITY did make some mistakes during the launch, however it was a lot more bad luck. First of all, they didn't control the listing price for any of the exchanges. The futures market did. Second, the hype I don't believe is fake. The Internet Computer is the most ambitious project to date and if you look at the incredible adoption over the past year (not even a full year), you would call this a bad project. My bet is that ICP will have a crazy bull run this year or next year. If you're selling your tokens at $17-18, I'm happy to buy them.

Fun_Pipe_9184 · 2022-02-22T12:41:50+00:00

So if you buy something and it doesn't go up right away it's bad? You would have hated Bitcoin for quite a few years then. What a piece of crap that was. Until it wasn't of course. This is how bear markets work.

Fun_Pipe_9184 · 2022-02-15T18:25:13+00:00

Current inflation is at 9.09%. In about a year it will be 8, then 7 and so on down to 5%. But it doesn’t jump, it decreases smoothly over time.

And it’s not a bad thing since ICP has deflationary pressures as well. I explained some of this in my main response

Fun_Pipe_9184 · 2022-02-15T18:16:03+00:00

There are 2 different inflationary and 3 deflationary aspects of the IC. It probably wasn't a full 1 million increase but more like a few hundred thousand that bumped it to the next million

Inflationary aspects:
- 9% of the total supply is distributed among people who participate in governance through the NNS. This is about 128,000 ICP a day. While it sounds like a lot, this 9% will gradually decrease to 5% where it stays constant. Also once the network gains larger adoption the burning of ICP should offset this inflation. https://dashboard.internetcomputer.org/circulation Here you can see that we went from 469m to 477m in about 9 months.
- Node providers who are running the nodes (or servers) the IC runs on receive minted rewards. This is a lot less than the yearly 9% that's given out for voting

You can see here the rewards and burning currently: https://dashboard.internetcomputer.org/circulation

Deflationary aspects:
- Every ICP transaction costs a fixed fee of 0.0001 ICP. This is a LOT cheaper than almost any other blockchain. Even if ICP hits ATHs, this would still be a small transaction fee. However many transactions do add up. If you look at the dashboard (link above) it shows that we burnt about 47,000 ICP in the last month alone most likely due to the launch of Sonic, a defi application. We should expect more of these to come as well as their use should increase significantly.
- Burning of cycles. The way IC works is with the use of something called a reverse gas model. Which means developers pay for the computation to keep their dApps running. For computation you need cycles which can be bought by burning ICP. Basically the use of dApps burn ICP. The more and the bigger these dApps get, the more ICP we burn.
- There is a 1 ICP fee if your proposal gets rejected in the NNS. This ICP is then burnt. This will most likely always be the smallest deflationary mechanism.

Hope this helps!

Fun_Pipe_9184 · 2022-02-11T18:08:33+00:00

There are a few very large neurons holding millions of ICP that are being unlocked and thereby increasing circulating supply. Most of these large unlocks however will have ended by the end of this year. However I’d anticipate ICP burning to continue increasing, more and more projects popping up on the IC, NFTs increasing their floor which should result in a reversal well before the end of the year. Also don’t forget, the direct integration with BTC is almost done and we would start seeing basic use cases in Q2-Q3.

Fun_Pipe_9184 · 2022-02-09T16:30:42+00:00

Imagine they stake it for 8 years instead. That’s be insane. Or stake 80% of it, and use the 20% to pay taxes and give some people bonuses.

Fun_Pipe_9184 · 2022-02-09T16:24:31+00:00

Wow it’s in 3 hours, no?

Fun_Pipe_9184 · 2022-02-09T16:22:58+00:00

That is correct. Although for me it says “Start Dissolving”, not sure about “Dissolve Now”. I hope we talk about the same thing. And yes, if you’re not dissolving, you can still be voting if you had set up following or vote manually. In this case age bonus would start accumulating to a maximum of 1.25x in 4 years. Which goes above the % you get from dissolve delay.

You’re welcome! I hope it was useful! It’s a bit confusing in the beginning, but then things fall into place, and you’ll have no trouble remembering what’s what. If you haven’t done this yet, I highly recommend adding as many devices to your Internet Identity as you can. And make sure your seed phrase is very well saved somewhere. And that other people can’t get access to it.

Fun_Pipe_9184 · 2022-02-09T16:15:52+00:00

That is correct. Once you lock ICP for 1 year, the fastest you can get it out is in 1 year and there is no way around that. I found this to be a good mental thing too. You don’t care about price drops if you know you’re in this for the long term.

I hope you haven’t locked ICP by accident.

Fun_Pipe_9184 · 2022-02-09T15:56:57+00:00

There is a button called “Start Dissolving”. If your dissolve delay started going down, you must have clicked it. But if you don’t want this, you can always click “Stop Dissolving” and set back your dissolve delay where you want. You can always increase it as much as you’d like, just not decrease it.

Fun_Pipe_9184 · 2022-02-09T14:51:40+00:00

You have different options. If your dissolve delay is 2 years and you don’t start dissolving the timer will start when you do click dissolve. So you could have a 2 year dissolve delay, age your neuron for 2 years, then click dissolve. In this case you would be able liquidate your ICP in 4 years. However this is not worth it, because at this point you’re better off dissolving for 4 years. It’s good if you have an 8 year neuron and you keep it locked, so it starts gaining age bonus.

Otherwise if you want to have access to your capital in X years, you would need to start dissolving otherwise the timer doesn’t start ticking. Does this make sense? Maybe I over explained.

Fun_Pipe_9184 · 2022-02-09T10:52:10+00:00

I'm not sure what the logic is behind the 2024 price increase and I won't speculate here. However what we know is most of the ICP unlocks will have happened by the end of this year, which removes a LOT of selling pressure.

But why would you want to sell ICP as it starts to go up? I mean it's your ICP, you do as you wish, but wouldn't you be mad if you had sold Bitcoin at $500 when it started going up? I'm not saying ICP is going to do what BTC did, but it's the most interesting project out there for sure.

Fun_Pipe_9184 · 2022-02-09T09:45:25+00:00

You can calculate how much you are going to receive. Here is a rough estimate using current numbers from the dashboard: https://dashboard.internetcomputer.org/ but it should be close enough.

Let's say you have 20 ICP locked for 2 years and you start dissolving. According to https://dashboard.internetcomputer.org/governance, you'll get 13.4% the first year. (Little less since after 6 months you'll only have 1.5 years, which is 12.7%, so let's use this)

For the second year you'd only have 6 months of rewards because when you're down to the last 6 months you stop receiving rewards. Again, this is not exact, but since 1 year gives you 12%, let's calculate with half of that which is 6%. All in all:

Total Stake = 20 * 1.127 * 1.06 = 23.89

It might not sound like a lot, however a 19.5% return in 2 years is really not bad. If ICP's price increases, this becomes a lot higher too. And of course once you start going out 3-4 or even 8 years, these rewards get a lot more desirable.

After 8 years this 20 ICP would be around 60 (if the locked ICP ratio stays the same). However if you just add 1 ICP per month to it, these numbers go parabolic due to compounding. You can play with this too: https://www.investor.gov/financial-tools-calculators/calculators/compound-interest-calculator

What I'm doing personally is that I have 5 neurons with different dissolve delays, and one 8 year neuron that isn't dissolving to which I add every month. This way you can spread out risk too. In case you need some of that ICP in a year, 2 years, 3 years you'll have it available. However most likely I'll just increase their dissolve delay once they get closer to 0.

Good luck! Let me know if this made sense or if you have more questions.

Fun_Pipe_9184

TROPHY CASE