Generate an Income from ICP
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- čas přidán 23. 01. 2024
- I have noticed that several viewers of my channel suggested generating an income from ICP rather than cash out with an exit of $1M. I found this thought of using ICP to generate income quite interesting so I did some investigation. I share the results of my findings with you in this episode.
Instagram: JamesAllan0
Patreon: / cityxcape - Věda a technologie
Have a bag for short-term gains and one for the long term
That's what I've done, if icp goes to just 250, I can quit my job and live very comfortably on the staked interest , then buy a nice holiday home with my short-term bag...
I will be getting some ICP real soon ! Thanks for the insight bro !
Don't miss that opportunity
Love your icp videos I am very excited about icp future
Stake all 2500 for 8 years and don’t start dissolving. Earn one ICP a day and hit the automatically button to stake the rewards. It’ll count toward your main staked bag to earn a little more rewards. Remember to vote or vote by proxy. Keep doing that until ICP reaches about a hundred (or whatever amount you choose) then hit that automatically stake button again to unstake the tokens. Boom! There’s your income. Patience is the key.
The rewards you stake count towards your main staked bag but you can unstake just the rewards bag at any time? I did not know that
@@ICPJapan You can uncheck the box where it says “Automatically stake new maturity” any time you want. Any new maturity rewards will not be staked and you can do whatever you want with them. Hope it makes sense..
@@cptcurk192 thanks for this good advice!
So when don’t dissolve it means my ICP is stakes forever?
I didn’t know I could stake my ICP forever. I thought I had to unstake after 8 years so I hit the dissolve on mine. I’ve got over 2k tokens.
Imagine we restake the reward automatically for 5 years while not start disolving, our 2500 icp will double (5000). (16% apr X 5=80%, but it is compound interest, so it will hit 100% in 5 years). Then after 5 years, you earn more than 2.25 icp per day (due to 25% age bonus). If price is 100, then 2.25 x 100 x 30 = 6750 per month. If 200, then 13500 per month. That is the dream income, and we never touch principle, which can be passed to the next generation. 😂
I’m pretty sure the APR goes down as more users hop on ICP but it still is a great mechanism to earn income as long as ICP continues on its upwards trajectory 👍
@@ICPJapan I thought once your ICP locked, the APR is also locked. No matter what, this is waaaay better than leaving my money in the bank. 😂
Apr is 8% now, it will go down to 5% netxt few years and then stay there. So in then years your icpstake will still generatie 12.5%, that is untill the sns votes otherwise
ICP ❤❤❤ gonna do this bro thanks for the break down
swapping ETH for ICP, hmmm. any suggestions,ya'll???🤔
ICP right now is like buying ETH 8 years.
ICP has the best tech period and will one day be the #3 token. ETH has 1000x in the last 8 years even though Bitcoin has 100x. Bitcoin was at 300$ 8 years ago.
I already started swapping ETH several weeks ago. I haven’t converted everything but I have moved a significant portion of my crypto portfolio to ICP. ADA, Link, ATOM, ALGO, FIL, etc have all been sold and converted to ICP.
@@fiifijohnson5139 🙂👍🏾
@@SanDiegoCrypto wôw, i like your style!!! ☠️🙂
What's taking rewards Will go down to 5% and no lower Then you can also get an age bonus for not dissolving.
Exactly!
Your goal is now 20,000 staked. All it took was a couple of months of ICP rollouts and dev tinkering ….This video aged well. 🎉🎉
Thank you good sir. Let's see how the technical videos age. I expect the engineering community to tune in to Internet Computer at some point, then these technical videos will be flooded with views.
@@cxc very well. Your consulting will need to be tapered.
@@RTHEERE Probably... or I could just raise the consulting price to an astronomical price only the rich can afford.
@@cxc Don’t forget about us po folk that need affordable devs..🤣
@@RTHEERE 🤣🤣
What I don't understand, is how is this possible? If the max supply of ICP is 500mil for example, and 250mil is bought by retail, they all stake it for 1 ICP a day, wouldn't this eventually increase the supply of ICP? I know it's not like BTC and Dfinity can raise the max supply, maybe this would balance out since if it gets more popular as a chain - ICP will be used for canisters/computing power way more.
Phenomenal question! What you are forgetting is that there a deflationary functions in the tokenomics as well. Deflationary functions such as transaction fees, NNS proposals, and the burning of ICP into cycles to power dapps on the blockchain all decrease the supply. Hence while staking rewards inflate the supply, it is balanced out by deflationary functions hence preventing ICP from reaching max supply. Also, please recall that staking rewards go down over time. Only early adopters get to this enjoy this 1 ICP a day deal. The mass will not come close to getting such reward when mass adoption occurs.
Cool that sounds great, thanks for the detailed response @@cxc
I bought at 5usd average almost 10.000 ICP, locked for 8 years, IM receiving almost 2.000 usd per month.
Ill be aiming to stake ICP for income next cycle. This cycle ill aim to time to top. My ultimate goal is to have 10 000 ICP at the bottom of the next bear market.