ICP has a lot of FUD thrown at it over the years, and as it turns out, it may all tie into a bigger conspiracy that set out to snuff out ICP from the beginning. In this video, I spill the details on who is behind the silencing of ICP and how the project is still going strong despite everything working against it.
0:00 Intro
0:48 The Internet Computer Protocol
2:12 FTX and NYT
4:37 Attempt to Destroy ICP
8:00 Not a Scam
8:50 The Tech Behind ICP
Links:
https://www.bloomberg.com/news/articles/2021-07-28/crypto-still-gains-developers-users-after-market-cap-tumble?leadSource=uverify%20wall
https://twitter.com/dominic_w/status/1542855199982772226
https://cryptoleaks.info/case-no-2
https://www.businesswire.com/news/home/20210921005981/en/The-DFINITY-Foundation-Announces-Internet-Computer-And-Bitcoin-Integration—Smart-Contracts-Come-To-Bitcoin
https://medium.com/dfinity/applied-crypto-one-public-key-for-the-internet-computer-ni-dkg-4af800db869d
https://changelly.com/blog/what-is-internet-computer/
https://dashboard.internetcomputer.org/
https://nns.ic0.app/
https://www.businesswire.com/news/home/20210921005981/en/The-DFINITY-Foundation-Announces-Internet-Computer-And-Bitcoin-Integration—Smart-Contracts-Come-To-Bitcoin
https://dashboard.internetcomputer.org/bitcoin
https://twitter.com/dfinity/status/1598708279529578496
https://twitter.com/dominic_w/status/1600497440435707905
https://twitter.com/dominic_w/status/1600185357181386752
https://twitter.com/dfinity/status/1598686423946706944
https://dfinity.org/grants
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We need to talk about ICP are you down To clown no I'm not talking about that Rap group from Detroit and Eminem Doesn't like I'm talking about the Internet computer protocol imagine a Version of the internet where developers Can be controlled censored or Centralized sounds too good to be true But it's being built right now yes ICP Is another crypto but I don't want you To think of it in terms of a coin or a Token we want to focus on the network The vast network of computers the Run ICP I think by the end of this video You'll understand how ICP is totally Revolutionizing web 3 and the internet As we know it get your clown paint on Let's get it Welcome to Midway crypto my name is Ben Today we're going to be talking about ICP so everybody knows the internet is Controlled by big Tech firms they invade Our privacy sell your data and censor Things like they shouldn't am I right Twitter all these big centralized Tech Behemoths they all run off the same set Of servers pretty much ICP on the other Hand is an alternative to the way things Have been done it's an alternative to The standard this stays true to the core Ideas of crypto and the philosophy of Decentralization there's no one single Point of failure there's a server that Can go down to take down ICP you know
Everything comes out and says they're Going to be the new ethereum killer well ICP has a much different approach to This idea you see they want to be a big Tech killer I think we all get behind That but they're creating symbiotic Relationships with the other top Projects in the world to getting up Together to reinvent the internet that Takes away power from the big Tech and Redistributes it to the people which is What crypto's all about back in 2015 Founder and Creator Dominic Williams Came up with this idea for ICP his goal Was to create a world computer that Could not get shut down in 2016 Williams Created the dfinity foundation which of Course the non-profit arm of ICP from Early on this project was very well Backed including backers injuries and Horowitz and polychain they're both Still supporters today but of course Many people well they remember ICP is Being a scam why we'll go back to May 2021 when it launched it went over five Hundred dollars it was never supposed to Go above 50 even in the wildest Expectations of the team but it quickly Dropped 90 percent now we know why now The connections between FTX and the New York Times Well they're quite extensive let's just Start with Sam Bateman free just Appearing at their deal books conference
To give the first interview to Andrew Ross Sorkin remember at the end when all The people stood up and clapped for Sam Like we were in the middle of The Hunger Games absolutely ridiculous but there's More connections do you understand Trabucco former CEO of Alameda was Actively working at the New York Times In the crossword puzzle Department yes While he was still at Alameda New York Times is Apache cover-up for Sam Bateman Freed and FTX and they've worked Together many times to be able to Destroy projects and push narratives we Do know also FTX just was discovered Giving 27 million dollars to the CEO of The block a crypto media publication There's also about 10 to 20 other crypto Media Publications the Alameda invested In or just outright paid to be able to Get whatever narratives in crypto they Wanted through so back to this story it Came out on the heels of the price Dropping tremendously for ICP so why did The price of ICP drop and why did the New York Times probably paid by Sam try To cover it up even more what happened Involved something called Perpetual Futures these are synthetic assets paper Dollars if you will except in this Version paper synthetic ICP they listed On FTX four days before spot training How could you trade Futures on an asset You have no concept of the price on
Because it hasn't launched yet very Interesting well there's a lot of FTX Animated to do Was to pump the price of these Perpetual Futures up these fake contracts to an Unsustainable price because this would Push the actual spot listing on coinbase Up tremendously at the day of the launch And then you know they did they tried to Short it to zero like they did with Almost any competitor that Almeida or FTX ever touched they never listed ICP As a spot item on FTX very strange There's plenty of evidence we made a Video about this a while back it's very Clear the FTX and Alameda intentionally Tried to destroy ICP New York Times Article comes out it's very fascinating The information actually contained in The article was not that bad in reality However when a Project's down nine Percent and you've got mainstream media Jumping on top of it that's going to Push it down even more this was the goal Of this hit piece now I will tell you I Have spoken with Arkham intelligence There's a lawsuit right now between Dfinity and argument intelligence the Group that put out the information that Went in that article to me personally After having that conversation with them I tend to feel like there's a missing Piece here that people don't know about Which is I think this entire thing was
Orchestrated by Angel Ross Orkin and Team bingman freed to destroy ICP I'm Not sure if Arkham intelligence was paid Or not paid for this article it's very Unclear on exactly what happened there I Know that the infinity Foundation I know The ICP I know that a lot of the Community feel like argument Intelligence played a large role in this However if you actually look back at the Article what you'll find is is that in Reality the information used in the Article wasn't that bad it the way it Was shaped inside of the article is what The problem was that's what compounded People's feelings of negativity towards ICP so I can't say for sure whether Arkham intelligence was paid or not I do Know that's going to come out probably In Discovery in this lawsuit because it Is being pushed and I don't see them Dropping anytime soon but like you see a Lot of times with anything Sam was ever Involved in it's always smoking mirrors It's made to look like one person did Something when they didn't do that so I Asked everybody to take all that into Consideration when looking at this story The New York Times is the bad actor here So basically what the argument tells you To report was is that it found 44 Probable Insider addresses the deposited 10 million ICP worth over 2 billion Dollars at the time to exchanges which
Coincided with drop in price Oregon Stated that defended did not follow the Playbook of other successful projects Quietly allowed the treasury and Insiders to send billions of dollars by CP to exchanges making it difficult for Their longtime supporters to access the Tokens they were promised now I have a Little bit of insight into what actually Happened here I do have to admit that's A terrible line by Arkham intelligence But we were all thinking that was true At the time you have to understand the Time that this was happening the very Peak of the Bull Run beginning of the First downswing as we head into the Summer last year and the story was ICB Launched and it absolutely tanked that Was the story so you start looking for People to blame you start looking for Bad actors and all of a sudden you find These addresses and they seem to Indicate that people on the team or Insiders were dropping the price and Dumping on retail investors well that's Not actually what happened the infinity Foundation by the way had their tokens Locked up they couldn't even sell them And unlike Solana it's not a scam where They create synthetic versions and still Dump them that's reality early on in the Days of dfinity they would pay Developers and pay other people that Worked on the project bonuses and extra
And ICP now at the time I think ICP was Worse somewhere between 10 to 30 cents So many of those people were not even Involved with the project anymore and Long gone so yeah of course when those People see the price going out of the Roof they're going to sell the tokens Dominic didn't make any money to my Knowledge on the sale or if he did very Very little I don't think he made any Money to be honest with you but the fact Is this was not Insider so they make it Sound like there was a group popping Champagne in a boardroom excited to dump On retail investors but that's not the Story of ICP and they could have pushed This narrative that this was not them And they could have focused on you know Oh woe is me New York Times but instead They didn't instead they went back to Work on the internet computer protocol And they just kept working on the tech And they kept building it knowing that Their reputation is bad well thank God We discovered what FTX did to them Because now story is clear They were bad actors they weren't Pumping and dumping these this is Actually a good team that cares about Its project and its community and that's One reason why I want to do this review To give you guys an idea of a fair Shake About ICP and why it deserves a second Look it's not a scam like people thought
In the beginning it's actually the Opposite they're the only people who are Doing what they were supposed to be Doing it was everybody else around them In the stock market 2.0 traditional Finance world of pump and dump that Framed them that's why this is an Important story so of course there was a Time where I said I wouldn't cover ICP But that's because I bought into the Scam The Narrative is being pushed on me And thankfully I have a brain so it's Taking new information change my opinion I gotta say my opinion on ACP was Changed 180 degrees so despite a rocky Beginning and on some exchanges even Going up to 750 right now ICP sits at Four bucks there's a reason we're Talking about it today the tech is good Unbelievably good and it's even Integrating with Bitcoin which we'll get To in a minute so why is the tech so Good and why do people love it so first Of all in the world of crypto the speed It takes to finish a transaction it's Called the time of finality the time Finality for Bitcoin is well 30 minutes To watch a whole TV show but ICP is the Fastest of the bunch because it uses web Speed take a second look at this chart Nobody else in the world is running this Fast let alone create 22.5 blocks per Second and that didn't blow your mind Just nope scalability well it's not a
Huge issue for ICP regardless of volume Making it the first unbounded blockchain There's all made possible by what is Known as key chain technology now it Consists of several things but first of All it's made up of a non-interactive Distributed key generation which is very Complex as the Affinity foundation's First release of Novel core cryptography You're going to take a deep dive on that We'll put a link down in the description Another part of the chain key technology Is the network nervous system or in Anesh for short that's a decentralized System of algorithms that govern the Operation of the internet computer Network now remember ICP is the Governance token of the project and when People stake ICP will they become a Neuron in the nervous system and the More you stake the more of a set you Have you think of nns as the brain of The internet computer now to stay on ICP You first have to gain access to the Internet app and to do that you must go And get an internet identity on a device You use to log in we need to have some Kind of security feature like Biometrics See instead of using a password they Want you to connect your identity and Use that to log in that's much safer Than two-factor authentication even but If for some reason your devices get Compromised your c4hq will always lets
You back in now we're going to be doing A tutorial on the bitlab academy pretty Soon to actually walk you through all This with ICP because it's very unique There's nothing like it on the Internet Or on in crypto right now it's a Standalone Network I think this gives it A good Advantage now the final element Of the chain key technology is its Threshold relay consensus mechanism you Think of it as an optimized version a Proof of stake now another place ICP Outperforms a lot of other projects if Not all is in the world of smart Contracts see things on ICP don't need Web servers they don't need Amazon web Services they don't need firewalls or External databases or any other headache Experienced by web2 developers this is All made possible because of their Canisters our contracts these contracts These canisters are so Advanced that Back in September of 2021 they voted on Integrating them with Bitcoin so finally Bitcoin can have defy and smart Contracts this is the key to doing that And earlier this month the integration Finally began so keep in mind igb's goal Is not to kill Bitcoin or kill ethereum It's to work with them it wants to Reinvent the internet as we know it why Wouldn't ethereum want to adopt ICB Canisters this would help them fix all The problems that they have and the cost
Of unchanged storage well that's Definitely enough to make people take a Second look at ICP each ICP canister you Know four gigabytes of data the price on One gigabyte of data on ethereum for a Year it's 240 million dollars kid you Not the price to hold one gig of data on ICP five bucks that's all it takes this Is why ethereum has already done some Integration with ICB they have Cross-chain Bridges called Terabithia There's allows users to interact with Ethereum at web speeds while Simultaneously paying less this Integration helps ethereum with scaling Problems fees and congestion but look at It like this forget the price action ICP Is coming look at the progress they've Made they're already integrating with Bitcoin for smart contracts and D5 They've got over 200 000 of those Canisters already deployed they're Making it easier for everyone to create Software on the internet and no not the Kind controlled by big Tech if you're a Dev out there right now they've got over 200 million dollars in funding available If you're a user well there's over 340 ICP dapps currently running these range From decentralized social media to Wallets to games dex's metaverse nfts Gambling and more the massive option of Crypto people wonder why it hasn't Happened yet well it's because it's
Probably being held back by the Banks And big Tech Apple taking 30 of gas fees Highway robbery so we can either opt for That system stay in and continue to lose Or we can choose decentralization Projects like ICP well they're working Us towards that goal I know personally ICP is a project I'm extremely Interested in and can't wait to explore Even more all right guys that's all we Got be blessed big way out Foreign
