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ICP staking rewards arent what you think..
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- čas přidán 20. 04. 2024
- ICP staking rewards aren't what you think! In fact, staking rewards can be very deceiving. The ICP blockchain might run into future inflationary problems if enough burning of the ICP coin don't occur. Do you stake ICP, and if so, for how long?
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ICP will never be built on top of other blockchains, nor would they want to be. However, all the other blockchains will be able to be built on ICP.
Even all financial types of transactions? I don’t think that would be best to build on the internet
@@dawsonallen Yes! It will be better the other way around. ICP is the protocol. Ethereum is slow and near impossible to build upon. Solana has a lot of security issues and congestion issues. I wouldn't even try building on that chain, even if it is easier than Ethereum. ICP uses WebAssembly which is the superior technology. Ethereum VM will not hold. I have seen many code bases and this is one that will never be untangled. You have to re-write the whole thing before Ethereum looses it's support. That will not happen
@@dawsonallen Btw, you can already send ckBTC for as little as 10 sats fee with a finality of 1-2 sec on ICP. ckETH is also implemented.
@@dawsonallenwhy? Lol
That will be icp downfall not wanting to be built on other block chains, as of right now icp has no financial institutions backing them. Hopefully this changes because I am a holder of icp
As part of the 8yeargang, and i will never dissolve,, i will live comfortably on the 16% apy.😇
The 16% is a variable not guaranteed return. You will outpace inflation currently, which is great. Are you going to convert all your maturity into ICP then?
@@dawsonallen no
@@dawsonallen You have calculated the inflation wrongly.
@@dawsonallen it wont go lower than 10% locked in non dissolving plus age bonus
I’m in the same boat. I have over 5,000 ICP locked for 8 years and have no plans to ever dissolve. I will only accumulate and sell my rewards during bull markets. #8yearGang
How the heck Did u Figure Out Inflation on ICP at over 10%????? Thats not true its 3.5%
I think it's even less than that at 2.5% but not sure.
I said it in the video. Circulating supply has increased 15% over 3 years which is 5%. Maturity that can be converted to ICP also has increased 5% per year (which would make the potential of inflation at 10%)
@@dawsonallen That's not how you calculate inflation. You have to take inflow - outflow = inflation. When that calculation is negative, you've got deflation
@@dawsonallen there is a valid point in stating that a chain can not support to much rewards without having inflation troubles, but definity foundation thought about that in two ways. First there will be a diminishing reward overtime (the more people are staking, the less the rewards will be, said very shortly), secondly they made 8 years staking without disolving so attractif that most of those stakings will never see the day of light on the market again and thus in practice, it looks a lot as a burning mechanisme.
@@dawsonallen I believe you are calculating that completely wrong
"I dont currently hold ICP" was when you lost me. Good luck.
You don't hold any....😮 sorry brother I feel bad for you now. With my age bonus and my 8yr max bonus my rewards are kicking buttt!❤
Good to hear!
You have not done your research really, I can hear. Did I hear you right when you said that Ethereum foundation could buy the Internet Computer? I have 16.8% APY in ICP, as I was early. The APY is dynamically set and the inflation is about 2.4% at the moment, all things calculated. Long term is even more bullish as all the devs (im one) are moving to ICP as it is the only true Web3 chain. All the others will be eaten up as they are only like Web2.5/demos of Web3. As the amount of canisters gets higher and higher it will soon be deflationary. We use cycles for our dapps which is a stable coin like token only able to buy with ICP (which is burned). Imagine when 240 dapps becomes 2400 dapps.. Keep up the good work and keep counting till you get it right ;)
I know how ICP works and how canisters burn ICP. I was just making a hypothetical that ICP would do well on top of a more financial focused L1. 16% is great but it isn’t guaranteed..I count maturity into the inflation because it can become ICP
@@dawsonallen I would argue that none of the Web2.5 chains are very good as financial focused chains either. They are just pretending to be both monetary chains as well as Web3 chains, which is a bit of a lie, or if I should be nice, demonstrations of what Web3 could be. Now when we have a true Web3 chain, there are no longer any use for the others, as they are not Bitcoin and not ICP.
@@dawsonallen Thanks for your reply. CZcams removed my answer and I don't like to rewrite. I just wanna give you an advice to put some time into researching ICP. There is a lot more under the hood, I can promise you that. It will make the other chains obsolete. Only ICP (as internet protocol) and BTC (as monetary medium on top of it). ICP makes Bitcoin even better (believe it or not) as it can be converted to ckBTC and be transferred for a fee of 10 sats at a 1-2 sek finality. Go check it out mate ;)
I’m staking for 8 years and not dissolving. I will be retired somewhere in 5 years 👍
How much ICP will you have at retirement?
@@dawsonallen over 6500
How much will 500 ICP be worth after 8 yr lockup?
@@TrichsRUs do the math on 16% compounding interest.
@@Damien-Infinitygood luck :-)
It's taken ETH 7 years to get to this point. Let's wait and see where ICP is i 2028/29 before making these claims.
8 years gang 🎉🎉🎉 💯 🏆 💪
💪💪
The increasing demand will outpace the inflation i'm sure. Thank you Sir
Short term I think yes, long term not so much
When the system is complete (and it's moving fast) we're going to need firefighters to put out the " burning"
Great analysis, about the potential inflation bomb because of long term staking rewards at 14%. You are right under a very unrealistic scenario where utility does not take off. However watch what happens when utility burning grows at 100% per year. Then deflation becomes inevitable. Will you do a more precise deflation scenario calculation. I see it deflationary in 3-5 years. Btw ICPs tech also places it as a potential level 0 hub for asset/coin exchange between on all other chains. Lets see what will happen once Omnity goes live. They are building a totally exceptional chain hub that they say is only viable on ICP. They tried on Cosmos, but chose ICP. I guess the future of ICP comes down to what level of automatic decentralisation the future will want from a chain. ICP is designed for an 100% on a tamperproof chain and all in an automatic DAO. That tech is what I believe will suck up all other chains, not vice versa. BUT if the ICP apps are irrelevant or crap, and does not give not give users real attractive killer-app solutions with ease of use, then ICP will eventually die out after 2029.
as technology grows exponentially, you definitely shouldn't look at the past for a reasonable view of a potential future. You see what appears to be linear. It is not.
Where are you invested in crypto?
L1: Bitcoin, Ethereum, Cardano, Ergo, Alephium
Defi: LENFI, IAG, AYIN
I’d rather stake my ICP (an appreciating asset with slight inflation) than hold my savings in a devaluating fiat earning mediocre to no Interest at all.
By the way, you can always sell your Internet identify (with all your neurons) if needed in case of emergency.
What if you only wanted to sell one of your neurons?
Hey bud. Was reading some of the comments. Interested when someone said there is no adoption, which is primarily i see as a problem. Any thoughts to if when or why its not being adopted? waiting for a whale?
btw, i've staked enough for .5 an icp a day have another 1/2 that i'm not sure what to do with right now
I think it’s being adopted at the normal pace of crypto projects (which is good but the burning will take a while to catch up to the inflating)
@@FilipWinter 1185 tokens
Dude, the world doesn't change on a dime, people are building, it's on track. Everything is playing out as expected. There is absolutely no indication what so ever that it will not be adopted or used etc
Very Informative
Thank you
Im 8y gang, staking ICP for 8years non dissolving. Also like the Cardano ecosystem, really love MELD and what they’re building in regards to self-custody for crypto & fiat in a NEO Bank.
I’m glad that you are into both ICP and Cardano! I think both have unique aspects the more I learn and both are built for different usecases
@@dawsonallen what is the use case for cardano??, i haven't really studied cardano
Throwing out a lot of numbers with no math to back it up. Show your calculations to get real inflation of 10-15%
MAN EITHER YOUR CALCULATOR IS BROKEN OR SOMETHING IS WRONG WITH YOU< WHERE DID YOU FIND THAT 10-15% PER YEAR INFLATION???? WHERE ??? THATS WHY YOU SHOULD NEVER TRUST PEOPLE JUST TALKING FROM THEIR BEHIND AND DO YOUR OWN RESEARCH PEOPLE
I said it in the video. Circulating supply has increased 5% per year. Maturity capable of converting to ICP has also increased 5% per year. Also voting rewards will continue at atleast 5% (which I count as inflation)
@@dawsonallen Total supply increase by 3,5% per year period, its a fact anyone should look it up and see it, almost all of the total supply is out means most of the inflation is already done, (90%) of the total supply is out as circulating supply SO for anyone who wants to know the TRUE CURRENT inflation for ICP from now on is 3,5% AND only 3,5%
@@dawsonallen Thanks for your reply. CZcams removed my answer and I don't like to rewrite. I just wanna give you an advice to put some time into researching ICP. There is a lot more under the hood, I can promise you that. It will make the other chains obsolete. Only ICP (as internet protocol) and BTC (as monetary medium on top of it). ICP makes Bitcoin even better (believe it or not) as it can be converted to ckBTC and be transferred for a fee of 10 sats at a 1-2 sek finality. Go check it out mate ;)
Don't react. Respond.
Why wouldnt the buring of icp thur projects bring down the icp and as load go up meaning projects on the blockchain being used to power the projects on the chain how have you calculated this? So, as you see the value of icp so will increase the burn rate and as for speed and fees to exchange coins chitttttt its a hands down winner at minuim
It’s true that ICP being burned can bring down inflation of the ICP token. I just don’t think that current levels of ICP being burned will affect inflation at all. The usage has to increase much much higher
Ok sometimes you give a way samples to get people to buy in to the first so thats what you are seeing . But, remember FTX wanted to distroy icp because it keep the people in control MAN CAN BE CORPUTED.
I have half locked for 8 years and the rest dissolving so that i'll get a portion every year for 8 years. I will leave the 8 year bag locked up
Exactly what I'm doing - I have 200 ICP (in each) locked in increments of (years) 1 - 2 - 3 - 4 - 4.5 - 5 - 5.5 - 6 - 6.5 - 7 - 7.5 - 8 (all dissolving) + 2 additional 8yr locked. Looking forward to over the next ten years getting paid in increments as they mature.
What options to choose get the half dissolving ?
@@puranamvedam3052different neurons. Like I have 4 set to different time frames.
ICP is already doing the magic. Check how many projects are burning ICP, and how many projects are launching every week/month on ICP buddy. ICP will be very fine... You better get some bags of ICP or live to regret not doing so.
We looked at how much ICP is being burned currently
@dawsonallen I understand. However, most of those burns happened within the past 10-12 months. If you look at the deployed canister smart contracts metrics, you will find out that it took a massive spike to the upside in the past 6 months.
Alright let's say you are on inflation right, but it does not matter if price goes to +$100..still profitable
I totally agree short term you can be profitable on the token
Lmao 🤣
i can follow some of the statements in this vid, but i think you should mention that staking ICP for 8 years without disolving, is actualy the same as burning those ICP. And happens to be that most of the staked ICP is for 8 year not disolving. And i have also very different ideas about the worth of staking. To bad the contentmaker had to sneak in that he likes cardano, while professionals are unboarding this sinking ship.
Dfinity Foundation can and keeps selling a lot but you hodlers are asked to lock in for 8 years hahaha it's a joke.
I don’t think it’s the same as burning. Long term all that ICP will be released and long term it will be very inflationary. There’s a price and time when everyone will want to dissolve and have that cash
@@dawsonallen ICP will become deflationary in 5-6 years,, do proper research before spreading Fud
@@dawsonallen still i do not agree, you get an increasing maturity bonus reward going up to 25% over time if you do not disolve your neuron and thus leaving the counter at 8 years. So most people who choose to not disolve will never do that as each passing day makes it less interesting to start disolving (when you start disolving you lose your maturity bonus). Your point is only valid for shorter term stakings. I think you are in a bias about staking and you overlook the reasons why billions are staked in 8 years not disolving. Those people are not creasy and they seem to use an other calculator then you :-) but nice topic to debate anayways!
@@Damien-Infinity if ICP does work out, it will be indeed a sure thing that it will become deflationary at some point. But it is still interesting to debate the inflation in the meanwhile....
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He said Icp will be bought out built on top of a layer 1? Icp is the only third Gen. Blockchain. That has an Eth and btc layer 2 on top of it already. Another proof that this guy has no dev knowledge at all! All these forex traders are clueless!
Hey "8 year gang".... Why on earth do you think society won't be collapsed in 8 years? I'm an ICP holder, and just curious. I plan to be out of and far away from America by 2030.
USA is not the whole world🤣
I am all for pros and cons (even being an ICP maximalist), I am always open to hearing negative thoughts, but like others have said, the real inflation is not that high. I appreciate the angle you are coming from, but it does smell like you are payed to be negative against ICP. I might be wrong, if i am i apologise, but you seem to be bagging ICP. Why dont you do a video on the fact that everything is on chain, why dont you discuss the AI innovation it has proven, and much more. Surely you can see the tech is top notch. Are there concerns, yes, however you can make that claim for all. Maybe be more balanced in your approach.
Not payed to be negative. Just sharing an opinion on the staking model. I always try to recognize good things ICP is doing tech wise but just want ppl to know their options. Long term staking in locked positions traditionally has potential for issues
Icp has great tech but no adoption from financial institutions
FINALLY someone made an accurate video describing the ICP tokenomics situation. There is a bit of a catch 22 no one wants to discuss in crypto which is this.....the faster and better and cheaper the it is to use the lower the "fees burned" and harder is is to become deflationairy. The amount of ICP burned is so low atm just 166k
i must say i do agree wit u hommie.. 8 years is a grip in cyrpto, although the market is maturing but..... naaaaah loll
You should probably stop doing ICP videos man
Can I do a video on all the things that ICP is innovating on?
ICP is unlikely to survive the next bear market, let alone the next 8 years :D - so good luck to all the ICP hodlers...
It could but the likeliness is v. low - just look at many coins from 2 cycles ago :/ where are they now
If icp made it threw the last bear market while it was being sabotaged by criminals then it will be ok during the next bear market. No so sure about cardano though.
You should also do your homework better mate ;) Why having an opinion without any research at all? 🤔
Sold every ship coin (ADA, SOL, ETH, DOT, etc) for ICP when I figured it out ;) Im sure more people will figure it out and then understand that it is superior to all the other chains. I wouldn't dare to hold anything else but BTC and ICP after I understood what ICP would bring to the table.
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