magICPoint ∞

If you compare #blockchains, on the left you see traditional blockchains consisting of many individual pieces bolt together. On the right you see #ICP where all software/components run on chain and decentralized without AWS etc. The future is here $ICP #worldcomputer #web3

Touching snow

The 20 Coolest maps you've probably never seen before: 1. Italian Pasta Map

I'm a devoted #ICP fan and believe in decentralized cloud computing, but at this point 'soon and upcoming' isn't just a phase - it seems to be a whole lifestyle 😅.

@TrapDefi @dominic_w It was writen be "tea.ai", SWP, self writting posts 🤣

@dominic_w I don’t think anyone actually read all of this 🤣🤣

Today, a restaurant waiter in America advised me how he chose tokens to buy, which is a stepping stone to broader issues in crypto, and my personal thinking. These were his 3 main criteria 😱🤔: 1) Trading volume 2) Tokens being "new" 3) "AI tokens" promoted on X Breaking his method down 1) He buys based on volume because he sees this as market validation and signal. He does not know that vaporware coins and memecoins, and also most major projects these days, simply create trading volume by contractually engaging with large numbers of market makers at once, and granting them options on their tokens just above the market price, incentivizing them to drive the price higher so they can exercise their options, basically by happily buying the token back and forth in a form of decentralized wash trading that attracts these kinds of folks (naturally, DFINITY does not engage in this "financial magic") 2) He buys based on recency, because he sees that new coins pump, reflecting how retail participants just get sucked into the latest financially engineered pump and dump cycle, which of course is causing industry liquidity to leak out to vaporware and memecoin operations and usually be lost to the industry forever (I asked about ICP, and he said he wouldn't buy that token because it is an "old coin," seemingly having no awareness this might reflect years of advancing technology and adoption...) 3) He buys "AI alts" based the advice of KOLs, primarily here on X, who promote vaporware tokens that have zero real technology behind them, but are sold using snakeoil narratives that sound reasonable to untrained ears, while being clearly ludicrous to anyone that actually understands how AI and decentralized networking technology works. He does not realize the KOLs promoting the AI vaporware are nearly all incentivized with bags of the tokens (again, this not a DFINITY practice, we spend our funds on R&D) So how did crypto get into this mess? Paid/vested interests press: The press oftentimes promotes the investments of its owners, and other times, just promotes whoever pays them. This is not the usual paid advertising model, since the consumers of this press cannot tell that the reportage itself, rather than banners, is often a subtle advertisement for vested interests. DFINITY does not pay, and since the Internet Computer project was initially funded by an ICO in 2017, rather than by industry titans who are eager to unlock and farm retail for their savings, and furthermore the Internet Computer might disrupt the status quo from which they profit, our interests don't align – and thus we very rarely get covered in parts of the crypto press, despite extensive PR efforts. Paid/vested interests research: It's reasonable for industry research to ask for money to investigate projects, but crypto industry research operations often differentiate themselves by a) actively lying to the reader about projects that are paymasters by promoting fake facts and narratives even when their own writers know they are lies and junk, and b) often acting in the competitive interests of their owners, by refusing to report on projects that might harm their interests, refusing to write balanced reports on them even for payment, and even excluding such projects from industry-wide analyses on crypto to make them look fringe to Average Joe's who can't possibly understand the wormhole of deception they have fallen into. For example, certain major firms will not create research on the Internet Computer and exclude it when creating broad reports on the crypto industry, despite the fact the network has benefited from by crypto's largest R&D operation since the end of 2017, and sports incredibly sophisticated, innovative and impactful technology created using contrbutions by world-famous researchers and engineers, and the network's onchain activity is growing very rapidly (it now often processes >1M Ethereum-equivalent transactions a second, because it allows things like social networks and AI to run truly onchain). Perversely, the disruptive potential of the technology is the primary reason why it is excluded. This pattern is the exact reverse of the way industry research would operate in a healthy industry. Mercenary KOLs: Of course, KOLs (Key Opinion Leaders/influencers) across all walks take secret payments to promote products, but in crypto, it's been taken to a whole new level, because they are incentivized with tokens whose price they then want to increase, and they promote complex snakeoil narratives that the Average Joe cannot really evaluate and see through. Once enough KOLs have been paid and incentivized to say the same thing, it creates a powerful manufactured "social proof" effect for the Average Joe, who actually believes he's acting according to the wisdom of the crowds. Because the Average Joe sees that the price often rises for the latest token wheezes being promoted, he inadvertently learns to follow the KOLs, then in the vast majority of cases, later losing money Flywheels: Investors and holders of Layer 1 tokens learned they could invest into startups building on their networks, and still make money even though the startups were likely to fail – because the noise they created would attract other developers eager for funding and generally drive liquidity into the Layer 1's tokens they owned so they could sell them. For similar reasons, those behind several blockchains learned they could profitably pay "customers" to "choose to build" on their networks (often paying enough to secure big corporates and govt. depts as "customers"), because again this was found to drive liquidity into their Layer 1 tokens. Of course, the crypto press and industry research firms often feed this by uncritically reporting announcements as achievements and signal. Eventually, although possibly over long horizons, investments fail, and fake customers leave, and the Average Joe loses as the hubbub dies down Ponzinomics: The insiders of certain projects are desperate to keep their token prices up, so they can exit with maximum profit. A great obstacle can be enormous investor unlocks (i.e. where large investors who have previously purchased large token batches, which they were required not to sell for some period, are about to be freed to sell...). To prevent those unlocks hitting the market and depressing the price, they will raise more money by selling more tokens off-market to other big funds at a steep discount to the current market price (often 60-80%), then use those funds to purchase unlocking tranches, so insiders can keep on selling to Average Joe at a high price and their project keeps its prestigious position on CoinMarketCap. Of course, this is another form of flywheel that will usually eventually fail, and the Average Joe has no idea what is happening. Corruption and cowardice: It's no secret that when the Internet Computer network launched into production May 2021, crooked industry players manipulated the ICP price using exchanges and market makers they controlled (essentially to attack early ICP holders), and launched other attacks too, primarily to disrupt the looming competitive threat the network presented to their investments. Naturally, there was no support from the crypto press, which is hardly surprising because corrupt industry titans attacking the project included SBF who was making tens of millions in secret payments to senior crypto editors at the time (and his incredible corrupt largesse to a certain political party, and celebrity, and hidden strings, also appeared to enable him to influence a star reporter at a certain mainstream media publication, who inadvertently collaborated in his attacks). Meanwhile, a class action was created by crooked law firm holding tokens from a "competitor" worth around two hundred million dollars at their peak, which had already launched many tens of lawsuits against various crypto projects. A crooked partner from that law firm was recorded on video by CryptoLeaks.info describing how this was part of a competitive strategy they pursued on behalf of the crooked project, also explaining how they were going to create another class action against Solana (which they they did months later). After the videos came to light, the founder of the project denied involvement, and since industry titans were invested into this project, the press trumpeted his claim as true. Meanwhile, of course, the crooked lawyer HAD consulted with the crooked founder on whether they should create the baseless class action against DFINITY, and federal judges with access to depositions (where people risk jail if they lie, as opposed to US legal filings, where litigation privilege lets you say anything) later kicked the crooked lawyers off all their cases, including the class action, indicating the dubious nature of the founder's claims to innocence. In any other industry, in any other field, the crypto founder and his project, which funded these crooked lawyers, would have been eaten alive. Not in crypto. ... I could go on. The problem is that the industry structure I've described above has been causing huge amounts of liquidity to leak out to people whose primary focus is on extracting value by pumping token prices rather than by building real long-term value, for example by performing R&D to increase the real world utility of these networks. The leaking liquidity simply disappears into blackholes. In fact, I think it's fair to say that now a huge proportion of crypto projects can best be described as token marketing operations built around snakeoil narratives and the kind of subtle marketing infrastructure and corruption I've described above, rather than as technology ventures. The problem is that whereas real technology ventures try to create real value that floats all boats, pure token ventures just extract value PvP style. This cannot possibly be a route to the crypto industry succeeding long-term. At DFINITY, we will remain laser focused on just contributing technology to the Internet Computer ecosystem, as per our non-profit mission. We'll weather this storm. I believe that things like the "self-writing internet" paradigm soon to arrive on the network have the ability to help the network transcend crypto. DFINITY continues to believe in traditional blockchain applications, and continues to contribute technology that benefits fields such as DeFi 2.0, but also believes in blockchains playing the role of straightforward next-generation tech stacks, which can host things like social networks and enterprise apps onchain. Today, it remains the case that only the Internet Computer network can host real apps and services onchain, or create open internet services directly controlled by a community without intermediaries with full automation, or run unstoppable AI models that are immune to traditional cyberattacks... However, I believe the fastest escape velocity from fake crypto can be achieved through provision of game-changing *mass-market* technology that offers compelling "hold-in-your-hand" grand utility to *billions* of people, which does not depend on speculation and narratives, and where the user may not even realize they are using blockchain and crypto technology. For me this is the self-writing internet, and we continue advancing towards releasing Caffeine.ai as fast as we can, not only to kick start this incredible new paradigm on the Internet Computer, and unleash a new kind of blockchain utility on a massive scale, but to create a shining beacon of light for the crypto industry that helps guide it forwards. Tech still matters, and I believe it will win out, and I want to thank everyone in the ICP community staying the course with us 💪💪💪

@tomserres I wonder what happens when the core activities that have defined human civilization - problem-solving, creation, discovery - become augmented or automated? Interesting times ahead with a lot of opportunity

AGI is coming faster than we realize, and honestly, I’m struggling to even conceptualize what that future looks like. This past week completely shifted my mindset. Plenty to meditate on in the weeks ahead. If you’re getting a degree in programming…might be time to reconsider.

@dominic_w After all, AI knows you can’t debug what hasn’t been coded. Soon ...

Tip: when AI builds solo using Motoko on ICP (Caffeine/SWI), GC-level reference checking is used to prevent errors in upgrade logic causing data loss Plus, AI makes far fewer coding errors using Motoko vs Rust for now & orthogonal persistence simplification boosts all languages

@vlyai vly.money/#/tip/me?xid=1…

Testing, this post should only be visible to the "Money Vly" community. If you see this, drop your tip link😁

@NFIDWallet Bravo, glad you made it! 👍

🔥 The NFID Wallet DAO Has Hit Its Minimum—We’re Making History! 🔥 The community has spoken. The minimum threshold for the NFID Wallet DAO has been reached, officially deploying Web3’s first decentralized cloud wallet and its $NFIDW governance token to mainnet Sunday February 9th! NFID is the first Web3 wallet to give users a voice in its: ✅ Revenue streams, ✅ Treasury allocation, and ✅ Code change approvals There is none like NFID Wallet and only one possible network to power the smart contracts... $ICP. The momentum is palpable—but there’s still time to join before the SNS ends at 2pm UTC! 🚀 Claim your stake and shape the future. Web3 is for the people. Let’s build it that way. 🌍💡

Vly is proud to be the world's 1st to pioneer continuous social airdrop by distributing $Like to the top 1,000 KOLs on @_Kaitoai ’s Yapper Leaderboard! Airdrops are no longer one-time events. Engage, share, and get rewarded—every week or every day.

@ICP_Japan @NFIDWallet Just did, they've been here from the very beginning, I want them to suceed

Who else took part in the @NFIDWallet SNS Launch? 👀✨

@HolographicMD In a few weeks spring will be back, it’s time to shine again ☀️

@Zforever97 @deliacapital This happens all the time in startups. Technical founders often are not the best people to scale a business. In my opinion, bringing in experienced business leaders is a good development

@ASmagicpoint @deliacapital Resigned*

🚨 Dominic Williams REMOVED as President of $ICP DFINITY Foundation – Power Shift to the U.S.? 🇺🇸 According to the Swiss Official Gazette of Commerce, Dominic Williams is no longer the President of the DFINITY Foundation. He has been reassigned as board member with signing authority. Allegedly, no replacement for the President role has been mentioned in the official update. However, the foundation has just appointed a Managing Director (Geschäftsführer) in the United States. Is this just a coincidence, or is this part of a larger plan to shift the power center of DFINITY to the U.S.?

@let4be @Chief_Indo @dfinity I found this intersting, maybe RLUSD could be an option x.com/EdnStuff/statu…

@Chief_Indo native stables are also nowhere to be seen aka the only hope for now is ckUSDT/ckUSDC it can work if @dfinity provides some LP after all those years of dumping on us they surely have enough to provide a thick LP ffs 😂🤡

$ICP James has a point here. ckBTC valuation: $20.85m YoY ckBTC % change: -10% ~ ckETH valuation: $3.43m YoY ckETH % change: +400% ~ Roughly about $5m in ckUSDC & ckUSDT. What were development costs? Why are they both dead today? youtube.com/watch?v=iAkMPQ…

So, $USDC sucks. I'll just say it. #Cardano should move on, for now anyway. I'll explain. They charge an absurd one-time fee and yearly fee to begin with, and they actively work to drain liquidity from your chain into their chains (SUI, for example). Other communities in similar situations from other chains like polkadot and algorand paid circle for USDC and felt that they got scammed. USDC/Circle promised them the world (without explicitly stating so) with tons of vague promises about how impactful it would be for volume and liquidity. They got zero meaningful activity, and instead, they noticed outflows to SUI and learned that SUI was partially owned by circle. See how the game is played? They could have spent that money on huge roadmap items that would have put these projects much farther ahead, years in fact, with the amount of money they paid. We should learn from their lessons, just as we learned technical ones from Ethereum's mistakes. It takes about 30 million in liquidity, minimum, to get traction and use for any stablecoin. It costs about 15 million just to get USDC now, and then we have to pay another 30 million to mint/seed that liquidity, as neither Tether nor USDC will provide that. 45 million can do wonders for development and progress. This is why RLUSD by Ripple is a good path forward. Why? @IOHK_Charles offered to pay to get it on our ecosystem for starters. RLUSD is less established and has a big incentive to seed liquidity to increase the adoption of their coin, particularly in a big ecosystem like ours. If they launch here and no one uses RLUSD, it will look like their stable is a big flop, so they are incentivized to seed liquidity. Another advantage is they are a US based stablecoin. That has a huge advantage over the others in our current market climate. Also, if circle scams you or goes insolvent, you have to deal with foreign legislation to have any recourse. RLUSD doesn’t have that luxury. If they mess up, any minter in the US has direct legal recourse. If Tether and USDC see $ADA adopting a major new competitor, they may very well come to cardano for free. At the very least, the growth of the ecosystem as a result of RLUSD would allow us to eventually fund Tether fees and liquidity should we choose, as USDT does not explicitly engage in the kind of activity circle does as stated in the beginning. Food for thought.

@cakemakerone Agree 🙂

Multiplex Champions League

@cakemakerone I guess you're not the same guy that wrote this 2 days ago? x.com/cakemakerone/s…

@jfgrissom @BasedGiant_ This is why Switzerland has direct democracy

@BasedGiant_ Yup, way past time… This is why America has the 2nd amendment. For exactly this scenario. Never let them take your guns.

If this is true: It’s way past time for governments to fear their people again. Treason against the people (they supposedly serve) should have real consequences. Reminds me of this: While on Paris we saw “The Place de la Concorde” where Marie Antoinette and King Louis XVI were executed. en.wikipedia.org/wiki/Place_de_…

@pokedstudiouk Dom would say

imagine a combo of caffine ai and deepseek,