My take on the UTOPIA not burning $ICP situation is 2 fold . First of all when any enterprise uses UTOPIA, they do that on their own hardware and data-centers, they would install UTOPIA software on their own machines and register their nodes by paying some ICP as a one time fee, they would use the private node to process computation, so there should be no need to burn ICP since they have already paid of the hardware which is logical. I am not sure if the onetime ICP payment will be there or not. But the most important thing is that when above enterprises need to collaborate with the public $ICP nodes then they would need to register their private UTOPIA nodes to the public ICP cloud by paying ICP or burning cycles. Enterprises needing to communicate with their trading partners, vendors etc is a known thing. So in essence UTOPIA users will need ICP and cycles. Secondly if any startup needs to host their app and website they would do so on the Public $ICP nodes since this is cost effective, they would continue deploying their canisters on public ICP infrastructure, since not everyone can host their own nodes or data-centers and install UTOPIA. In fact I would venture out and say that the footprint of public ICP nodes would be much higher than UTOPIA nodes. Think about it, companies don't want to manage their own infrastructure, that is the reason they moved to cloud providers. In summary UTOPIA is a nice to have feature that ICP wants companies to have so that they can have a hybrid architecture to leverage the existing data-centers companies already own.
I think you are kinda misinforming your audience. Dominic said that ICP will be burned if Utopia is interoperating with NNS. If a Utopia wants to talk to the outside world, they need to go through the API Boundary Nodes, which are NNS controlled. So every http request will burn ICP. A lot of web2 applications perform http requests between their private services and public services because they need to decouple their business logic. If a bank were to adopt Utopia, then the customer savings account data would be private, but the customer still needs to retrieve their data for personal use. So the app would need to securely perform HTTPS Get requests between the public and private environments. Those HTTPS calls add up and it will burn a lot of ICP I think.
BULLSHITUPIA. POOR iCp investor Dominic is Draining your fucking Investment. Just watch 3-6mknth he will stepdown as CEO and take big chunk of ICP then dump
I have to disagree with you. Imo, Utopia is in no way a slap in the face to us. They are tapping a market that is not available to us which will be major for ICP in bringing worldwide, mainstream, attention, to the Internet Computer which that, among many many other common sense reasons, Utopia is major plus for $ICP holders.
It's not fair to assume the impact to the ICP network right now. We don't know the long term strategy or the minute details. Dfinity have their reasons for creating a for profit entity that will oversee Utopia. We need to find and share the right info, and ask the right questions before submitting proposals for change.
James, I know you’re very smart guy. I am Florida that you check out the facts yourself and think about them. I truly believe UTOPIA to be a positive for the Internet computer.
But you can also put up the proposal, since you don't like it... wrong? I'm super bullish on UTOPIA. No need for me to say anything about it since the community who really understand UTOPIA has graced your comment section before me. You've been an intelligent critical thinker and an icp mouthpiece that i do respect, but you got this one all wrong.
The explanation of Dominic is, interoperability between Utopias need to be registered to the Internet Computer public network through NNS and paying a fee in ICP tokens. Domnic went on to list benefits for the IC. Also, Domnic Williams quote “there is something new coming within the field of AI that was originally conceived for use by those running UTOPIA serverless clouds, which will now land on the Internet Computer first and probably be the biggest thing that happened to the ecosystem. Just remember those words, it’s coming soon” I’m going to wait until Domnic responds again with more clarity on Utopia funding among other things, doesn’t seem like everything is set in stone.
I look at it like the difference between intranets and the internet. Utopia is like instances of digital walled gardens. If a company wants to communicate with their partners and the rest of the world, they will do that on ICP main network.
I saw a video you previously made where you said Dfinity is no longer allowing nodes to join the network. This kinda confused and turned me off, because how can a decentralized system stop nodes from coming online ? How much control does dfinity have over the overall system of the nodes. Like, what else can they do with the node system? If ICP is a cloud why would they limit the amount of nodes joining. Wouldn't they want more data storage capacity at an infinite level.
They stopped allowing new nodes for now, because those extra nodes are not needed. When it's necessary, they will start accepting 'em again. By the way, ICP tech belongs to DFINITY and it's still in its infancy. If they don't have control over critical aspects of the network, who would? You? Me? Think about it.
@@Hit_ICP my thing is bitcoin or even most other blockchains don’t stop allowing nodes because they aren’t needed. And we need to ask, why aren’t new nodes needed ? If nodes contribute to storage capacity wouldn’t you want as much nodes as possible ? You say dfinity owns icp and you ask who should own it , but who owns bitcoin? Isn’t the purpose of decentralize is for no one to own it ? I was really really loving icp tech until I heard this point to be honest. A decentralized system shouldn’t have someone turning it on and off . I’m not even saying this to be disrespectful I’m just genuinely confused.
Good take on this James. The community is very pissed about this Utopia issue. Hell, I'm pissed too. But I remember I invested in ICP without hearing about Utopia. In fact, I never knew there was a Utopia when I bought and staked my ICPs in NNS. I'm sure a lot of people are also the same. So for me, my conviction with ICP and the Dfinity foundation remains solid. Imagine un the future the whole world will embrace ICP blockchain which I think will happen. Then Utopia if ever it becomes a part of ICP ecosystem because someone raised a proposal to incorporate ICP/Cycles into it then it's "nice to have" but then again I'm alright with ICP already and doesn't affect my conviction against this current Utopia issues.
I first got in at 13, then got more at 12 and 10 and more at 8 and 7. I love buying the decline then when it rebounds I wont need to chase it. Average down, Stake part and then sell part for profit when it goes up.
I could be wrong about this but if UTOPIA runs on sovereign servers ( owned by the company ) then i can understand why it doesn’t burn cycles. They aren’t using the main net’s compute capability so logically and from a purely technical POV it makes no sense that a set of servers outside of the main net should burn OUR cycles. However, UTOPIA takes up dev effort and uses our software so there should be some form of tribute.
I agree James people should stop doing price predictions because no one knows what the price will be. But the whole market is down on the other hand the stock market is doing pretty damn good. “They said” Germany dumped a couple million bitcoin on us idk idk this shit is crazy tho. But again when things were going good for Amazon when they first came out price didn’t reflect so we have to believe and stay strong
I think we are going to see a $15 to $25 $ICP this month (July). This is based upon my feeling coupled with all the incredible developments, partnerships that have been inked, partnerships to come, all the education that dfinity is giving out at crypto events around the world and a whole lot more. $50 to $100 by year end. ICP, in my opinion, will be the largest gainer of a top 100 crypto this bull-market 👍🏻
Once we accept the technology transfer to the private company, whoever is the owner of it, there is no turning back! Do someone know the contract conditions?
ICP doesn’t want to do be known as Defi and now for Enterprise (Utopia) they basically takes that somewhere else? Ohh meeehn. I’m trying to be nice about it because I put all my crypto in ICP. What the fuck else is left? No matter how u paint it this is a mild rug pull.
I don't get it.. Wasn't it supposted to be that Utupia runs on private corporate servers in a closed environment? Why would they pay for their servers?
@@thorazine0076 You misundeerstood. I mean corporate has to buy own node machine to make Utopia, so why they would pay cycles for themselves for their machines. It doesn't make sense.
It’s private enterprise, there’s nothing that could change it. Even a proposal. The money from UTOPIA is going to Fund Dfinity for more research and development on ICP….Stop crying.
If ICP would place a lead group higher than his messy self he can upright but it takes cleanup I believe the idea he has is tops but he needs to stop running it on drugs and his personal feelings it needs a group a music group and they are not bad they are loved at over a million strong and steady but he is burning his public 😿😿😿😿😿😿😿😿😿😭
This is the issue with cryptos that ate not bitcoin. Your not actually buying stock in the project just some useless tokens that you hope the project will back end value on for you but there I no guarantee.
I know you can't wrap your brain around the complexities of Utopia, but it's quickly becoming apparant, how important registering Utopias on the IC will become.
My take on the UTOPIA not burning $ICP situation is 2 fold . First of all when any enterprise uses UTOPIA, they do that on their own hardware and data-centers, they would install UTOPIA software on their own machines and register their nodes by paying some ICP as a one time fee, they would use the private node to process computation, so there should be no need to burn ICP since they have already paid of the hardware which is logical. I am not sure if the onetime ICP payment will be there or not. But the most important thing is that when above enterprises need to collaborate with the public $ICP nodes then they would need to register their private UTOPIA nodes to the public ICP cloud by paying ICP or burning cycles. Enterprises needing to communicate with their trading partners, vendors etc is a known thing. So in essence UTOPIA users will need ICP and cycles. Secondly if any startup needs to host their app and website they would do so on the Public $ICP nodes since this is cost effective, they would continue deploying their canisters on public ICP infrastructure, since not everyone can host their own nodes or data-centers and install UTOPIA. In fact I would venture out and say that the footprint of public ICP nodes would be much higher than UTOPIA nodes. Think about it, companies don't want to manage their own infrastructure, that is the reason they moved to cloud providers. In summary UTOPIA is a nice to have feature that ICP wants companies to have so that they can have a hybrid architecture to leverage the existing data-centers companies already own.
That was a helluva break down
Spot on!
Bravo... I'll read this to the community
Best definition I've seen so far, really clarifies a lot, i'm going to keep this in my notes... TY.
I think you are kinda misinforming your audience. Dominic said that ICP will be burned if Utopia is interoperating with NNS. If a Utopia wants to talk to the outside world, they need to go through the API Boundary Nodes, which are NNS controlled. So every http request will burn ICP. A lot of web2 applications perform http requests between their private services and public services because they need to decouple their business logic. If a bank were to adopt Utopia, then the customer savings account data would be private, but the customer still needs to retrieve their data for personal use. So the app would need to securely perform HTTPS Get requests between the public and private environments. Those HTTPS calls add up and it will burn a lot of ICP I think.
This should be mentioned more. Good take!
The crux of the video is that it happens pretty regularly tbh that these videos are somehow misinformed. A bit of more openness would do well.
Yes exactly what Dom said and how i interpreted it
BULLSHITUPIA.
POOR iCp investor Dominic is Draining your fucking Investment. Just watch 3-6mknth he will stepdown as CEO and take big chunk of ICP then dump
I have to disagree with you. Imo, Utopia is in no way a slap in the face to us. They are tapping a market that is not available to us which will be major for ICP in bringing worldwide, mainstream, attention, to the Internet Computer which that, among many many other common sense reasons, Utopia is major plus for $ICP holders.
What's up Kenny, you're actually right. I got updated by a few viewers here. I'll make a follow up episode clearing up my mistake
🎯
💟
@@cxcrespect bro
It's not fair to assume the impact to the ICP network right now. We don't know the long term strategy or the minute details. Dfinity have their reasons for creating a for profit entity that will oversee Utopia. We need to find and share the right info, and ask the right questions before submitting proposals for change.
James, I know you’re very smart guy. I am Florida that you check out the facts yourself and think about them. I truly believe UTOPIA to be a positive for the Internet computer.
Yes I am correcting this mistake now
But you can also put up the proposal, since you don't like it... wrong?
I'm super bullish on UTOPIA. No need for me to say anything about it since the community who really understand UTOPIA has graced your comment section before me.
You've been an intelligent critical thinker and an icp mouthpiece that i do respect, but you got this one all wrong.
You're right. I just got updated from a viewer. I'll make a follow up episode soon.
@@cxc sweet!
The explanation of Dominic is, interoperability between Utopias need to be registered to the Internet Computer public network through NNS and paying a fee in ICP tokens. Domnic went on to list benefits for the IC. Also, Domnic Williams quote “there is something new coming within the field of AI that was originally conceived for use by those running UTOPIA serverless clouds, which will now land on the Internet Computer first and probably be the biggest thing that happened to the ecosystem. Just remember those words, it’s coming soon” I’m going to wait until Domnic responds again with more clarity on Utopia funding among other things, doesn’t seem like everything is set in stone.
You're right... just published a video addressing my mistake
Utopia does burn icp cycles.
My concern is if they can raise fund themselves
I look at it like the difference between intranets and the internet. Utopia is like instances of digital walled gardens. If a company wants to communicate with their partners and the rest of the world, they will do that on ICP main network.
I saw a video you previously made where you said Dfinity is no longer allowing nodes to join the network. This kinda confused and turned me off, because how can a decentralized system stop nodes from coming online ? How much control does dfinity have over the overall system of the nodes. Like, what else can they do with the node system? If ICP is a cloud why would they limit the amount of nodes joining. Wouldn't they want more data storage capacity at an infinite level.
Tin foil hat
@@camronrubin8599 Not sure if this is an insult, but im asking a legit question.
@@whalescandy8153 no not an insult , it's making me put my tin foil hat on sorry for not clarifying
They stopped allowing new nodes for now, because those extra nodes are not needed. When it's necessary, they will start accepting 'em again.
By the way, ICP tech belongs to DFINITY and it's still in its infancy. If they don't have control over critical aspects of the network, who would? You? Me?
Think about it.
@@Hit_ICP my thing is bitcoin or even most other blockchains don’t stop allowing nodes because they aren’t needed. And we need to ask, why aren’t new nodes needed ? If nodes contribute to storage capacity wouldn’t you want as much nodes as possible ?
You say dfinity owns icp and you ask who should own it , but who owns bitcoin? Isn’t the purpose of decentralize is for no one to own it ?
I was really really loving icp tech until I heard this point to be honest. A decentralized system shouldn’t have someone turning it on and off .
I’m not even saying this to be disrespectful I’m just genuinely confused.
Good take on this James. The community is very pissed about this Utopia issue. Hell, I'm pissed too. But I remember I invested in ICP without hearing about Utopia. In fact, I never knew there was a Utopia when I bought and staked my ICPs in NNS. I'm sure a lot of people are also the same. So for me, my conviction with ICP and the Dfinity foundation remains solid. Imagine un the future the whole world will embrace ICP blockchain which I think will happen. Then Utopia if ever it becomes a part of ICP ecosystem because someone raised a proposal to incorporate ICP/Cycles into it then it's "nice to have" but then again I'm alright with ICP already and doesn't affect my conviction against this current Utopia issues.
I first got in at 13, then got more at 12 and 10 and more at 8 and 7. I love buying the decline then when it rebounds I wont need to chase it. Average down, Stake part and then sell part for profit when it goes up.
I could be wrong about this but if UTOPIA runs on sovereign servers ( owned by the company ) then i can understand why it doesn’t burn cycles. They aren’t using the main net’s compute capability so logically and from a purely technical POV it makes no sense that a set of servers outside of the main net should burn OUR cycles. However, UTOPIA takes up dev effort and uses our software so there should be some form of tribute.
Price prediction is one of the worst thing people can do as an influencer you would lose credibility quite quickly.
I agree James people should stop doing price predictions because no one knows what the price will be. But the whole market is down on the other hand the stock market is doing pretty damn good. “They said” Germany dumped a couple million bitcoin on us idk idk this shit is crazy tho. But again when things were going good for Amazon when they first came out price didn’t reflect so we have to believe and stay strong
I think we are going to see a $15 to $25 $ICP this month (July). This is based upon my feeling coupled with all the incredible developments, partnerships that have been inked, partnerships to come, all the education that dfinity is giving out at crypto events around the world and a whole lot more. $50 to $100 by year end. ICP, in my opinion, will be the largest gainer of a top 100 crypto this bull-market 👍🏻
Utilizing GPU to do calculations for ai with current setup, I thought it was going to rejuvenate POW mining.
Once we accept the technology transfer to the private company, whoever is the owner of it, there is no turning back! Do someone know the contract conditions?
Good question 🎉
@@crypto-recoveryIs there a channel somewhere for the Utopia topic?
SO SAD FOR ICP... THIS IS A MONEY GRAB PROJECT
ICP doesn’t want to do be known as Defi and now for Enterprise (Utopia) they basically takes that somewhere else? Ohh meeehn. I’m trying to be nice about it because I put all my crypto in ICP.
What the fuck else is left? No matter how u paint it this is a mild rug pull.
That sucks
I don't get it.. Wasn't it supposted to be that Utupia runs on private corporate servers in a closed environment? Why would they pay for their servers?
Node machines are expensive, they are in control of their network... this is not hosted on Centralized Cloud.
@@thorazine0076 You misundeerstood. I mean corporate has to buy own node machine to make Utopia, so why they would pay cycles for themselves for their machines. It doesn't make sense.
@@dariuszdawidowski2640 that is correct, not sure what you're asking but Cityxcape has done a follow up video, maybe watch that for your answer.
Now we started getting comments promoting all kind crap.
I pray it goes back down to $2 😅
It’s private enterprise, there’s nothing that could change it. Even a proposal. The money from UTOPIA is going to Fund Dfinity for more research and development on ICP….Stop crying.
If ICP would place a lead group higher than his messy self he can upright but it takes cleanup I believe the idea he has is tops but he needs to stop running it on drugs and his personal feelings it needs a group a music group and they are not bad they are loved at over a million strong and steady but he is burning his public 😿😿😿😿😿😿😿😿😿😭
This is the issue with cryptos that ate not bitcoin. Your not actually buying stock in the project just some useless tokens that you hope the project will back end value on for you but there I no guarantee.
Some other tokens have that issue, but not ICP
kaspa
Let dump the token and promote HBAR
Dump what you don't own? 😂
HBAR to zero 😂😂
HBAR is trash
to pump your HBAR bags. do you think we stupid
I know you can't wrap your brain around the complexities of Utopia, but it's quickly becoming apparant, how important registering Utopias on the IC will become.
Research kaspa . A better bitcoin
That is very true and Icp is a better ethereum
@@beachbumLifestyle indeed, technically speaking , but are the teams of these projects better? Time will tell
Kaspa is a clown project.
Kaspa is trash 😂😂😂
@@luisfigueroa5108 ill debate you, argue your point