I’m a bagholder of everything.
Welp ICX looks like it’s a shitcoin now
Don’t let the price action which is driven by irrational behavior lead you to believe that anything about ICX has changed. ICX is a real project unlike 99% of other alt coins. If the markets were actually rational then ICX would be in the top 10 already because most coins are just a dream still.
This is not the stock market and 90% do not have to lose for 10% to win. In fact, 100% of people holding stocks win over the long term.
The same will be true of people holding cryptos that are not trash. All of those who do a little research before buying a coin will come out on top 5 years from now.
Although 9 coins will go to zero for each one that succeeds most likely. That’s just because at least 9/10 are out right scams or don’t have developers doing anything. ICX is not one of those.
Obviously late in the game for me to pose this question now, considering how heavily invested I am: But I’ve often wondered if a high token price actually disrupts their growth model and user adoption. Just the way Bitcoin has morphed into a store of value vs a usable currency (because of its high beta), would ICX as a token be less attractive to new JVs if the price rose above a set amount? I’d love for @K_Godel to engage in this discussion.
Well here we are under a single dollar finally. Time to buy! I bought a bagload back when IOUs were being offered on HitBTC for less than $0.60. This whole market will be a good lesson for those that don’t understand the importance of patience in such a volitile environment. There are no get rich quick in a month coins, as half the Internet seems to believe. This environment is about timing, buying in at a fair price, and patience all the way to your pre-defined price GOAL. ICX will bounce back, just as 75% of the other coins will. Some of you really new people need suck it up or get out. Crypto is for risk takers and those that understand how long product development takes. ICX WILL BE A $100+ COIN, it just might take 6months-5years. Note: I bought antshares at $6 and ~6months later it was $150+. RELAX we’ll get there.
You realize all cryptos look like garbage and i can say the same about Bitcoin.
Bitcoin is trash…it was at 19k and now look at it.
See how that works?
You should probably leave the crypto space. You arent built for it.
To be honest some look worse then others. ICX is like a dead fish right now. I’m holding mine but not very happy. The team need to talk more to people.
It’s taken me a while to get there bro but don’t even bite on his shite, he thrives on it. You’d think he’d read a post from tone vays in Korean, used google translate and copied then pasted that shit.
Plus he can’t give up what he doesn’t hold.
Right im back.
Yes, I agree but we can say that just about every single project in Crypto. Not one is certain to succeed so when I give my view on ICON being one of the safest bets out there, that is based on the research by me and many others.
I agree however it’s not surprising. It’s a complex business and takes time to look into. This is why you always see me popping up trying to help by providing the info that I have. It can be technical but there’s so many videos and articles that out that explains it very well. We don’t have to know how the tech side of something works for us to use it.
So remember ICON is fairly centralised at the moment but like many it aims to become much more decentralised. Comparing ICON and BTC is Apples and Pears - doesn’t make sense. ICON can get things done much quicker and it already boasts the client based from theloop. Yes, it will take a long term which is why I always think long term but it’ll take a lot quicker than BTC to become truly mainstream. Competitors are a good thing! There’s more than one Car manufacturer right? ICON already have those connections and have a massive head start!
This is where you show your lack of understanding on how the ICX token works within the ecosystem - it is one big thing that is super exciting about the project! I’m a litle disappointed you’ve even raised this as you said you knew the project.
ICX tokens are utility tokens required to use and participate in this ICON network. When one blockchains wants to connect to another it goes through the ICON nexus which requires a transaction fee - the ICX token!
You’re showing your frustration and I imagine it’s to do with the price - would we be having these debates if ICX was floating around $10? Remember how EARLY we are! Yes there will be cash grabs and ‘‘Scams’’ but you can’t determine anything is one until you find out it’s one.
We know ICON and if there’s a few that will survive - I believe ICON will be up there with the best of the survivors!
But participants won’t be interested in high transaction fees. This worries me. Higher fees = less usage.
Yeah that’s true but remember each blockchain will also be a c-rep giving them a much higher return on staking than us ‘‘normals’’ that might run a citizen node.
So, yes it will cost a hospital to connect to the insurance company but they’ll be getting a lot back. Maybe even more than they pay out but this depends on the volume of the network!
“We don’t have to know how the tech side of something works for us to use it.”
You should know how the tech side works if you’re talking about it’s future value, not just in terms of contribution but monetary value.
“It’s a complex business and takes time to look into.”
Basic questions about major parts of a business, such as how many devs a project has or how big the team is etc., should not be complex and a mystery.
So these two points are not true, this information should either be communicated clearly (as in dev team details) or you should know how a tech works if you’re predicting it is “game changing” and will be worth lots of money in the future.
“Comparing ICON and BTC is Apples and Pears - doesn’t make sense.”
I never compared BTC to ICX, but if one of the goals of ICON is to hyperconnect cryptos and allow transfer of value between different cryptos etc., BTC and cryptos need to be mainstream for there to be a point to this goal. What’s the point of hyperconnecting something that is not even being used by most people?
"ICON can get things done much quicker " “but it’ll take a lot quicker than BTC to become truly mainstream.”
ICON constantly misses deadlines, and in something like tech that moves super fast, that is not good. BTC is by far the most popular crypto, in fact, most of the general population knows the name BTC and no other cryptos. So I don’t see how ICX becomes more mainstream than BTC, and again, if BTC and cryptos are not main stream, then where is the value in ICX?
“ICX tokens are utility tokens required to use and participate in this ICON network. When one blockchains wants to connect to another it goes through the ICON nexus which requires a transaction fee - the ICX token!”
Where does the monetary value from this come from? If a business is set up, and cryptos are mainstream, then ok, I understand a business having use for this to communicate with other business’ that are also using cryptos. However, again, that means cryptos have to be mainstream and applied a lot, and also, where is the value for a regular average Joe investor? You also oversimply this, because their netword dynamics and “voter system” gets much more complex and is laregely linked to how many ICX tokens one has etc. Also, this is valuable for business that want to exhange data etc., but how is this super valuable for an average consumer?
“You’re showing your frustration and I imagine it’s to do with the price”
Not frustrated with the price at all. I am very happy with the price and I hope it goes to 0.01 per ICX.
I disagree - I don’t need to know the ins and outs of what a company does or even the tech behind their product. I just need to know enough to judge whether this is the right investment for me. I’m not techy at all so I don’t go on a website and click F12 to look at the sites codes or wonder how the tech behind emails or phones work. I use it and it works fine - most people don’t care.
It’s normal in Crypto for us to seek this information and you’re right it should be explained in a much simpler way and not need us to debate on it based on our own interpretation. My point was mainly based around how the ICX token works.
So your next points on BTC is where I think you are completely misunderstanding everything. ICON does NOT need BTC Yes for the speculative market it’d be nice to have the King alive and well but the success of ICOn, the project, has no bearing on what happens with BTC. ZERO!
Bitcoin could die tomorrow but ICON can still press forward with their plan on connecting different companies.
Also, another thing you got wrong - ICON aren’t just hyperconnecting crypto - they’re hyperconnecting blockchains. Most of these MOU’s won’t have their own currency, it won’t be a tokenised model. Yes, it will be likely that blockchains like Ethereum will want to connect via the ICON nexus but their target market is the industries and institutions.
Again, I must stress Crypto going mainstream has no bearing on the success of ICON. It’d be better and easier but Crypto could disappear but the blockchain lives on! Kyobo life insurance company processes a claim within 12 minutes using ICON which is much faster than before - this saves them money! That’s the sort of monetary value you’re looking for.
Do you think all of these MOU’s are a fake? Do you really think these multi-billion dollar companies don’t know what they’re getting themselves into?
Remember that ICON aren’t marketing out to retail investors - they’re not targeting you or I. If the average Joe understands everything then they will see the potential value in this project.
You said the token doesn’t do anything outside of running a node and I just told you exactly what it does. the voting rights is for non-retail investors and the staking is largely irrelevant because I just told you why the token has value.
Answered that earlier. ICON have said they plan on marketing to the retail market one day. Until then I can’t comment.
because you want the project to fail or because you want to buy more?
I stick by what I said that you don’t fully grasp what ICON is doing.
When i think of icon and its interoperablity idea, i actually think that it can go the route of homegrocer during the dotcom
Nowadays food delivery is getting more common, with even amazon getting in the mix. They raised lots money and had good backing within the tech industry, but they were too early and the market didn’t accept their idea, and lots of people lost money on a potentially great idea.
There’s a real possibility that the world isn’t ready for decentralized economies, and icx may be too early. I guess some have thought about this, but there are no guarantees in this market
Yes true but it’s not that different to what Amazon did and look where they’re at now. ICON isn’t the only interoperability project out there - many will fail for sure but ICON already have the clientele.
Remember ICON was created purely because of the demand from existing customers!
I bought at approx 1$ Aside from the losses, still in green. I tethered at around 6, was too optimistic around our ATH and with all the fomo I was really aiming to sell at 15$ and above. Took 60% of the total invested amount for profit. Reinvest at 3$ the 40% hodl stack and… we’re here
I don’t agree with your knowing the tech argument. First, you’re referring to things that are already in use. I don’t care how an e-mail works either, but I know it works because it’s in use and I use it everyday. You don’t use ICX tokens or the ICON network, nor have you ever used it. So you actually don’t know if it works or will ever work. I am also not saying you need to know the code and ins and out, but you should be able to tell if it’s feasable/realistic timeline etc., and for that you need an understanding of the principles and how it works. It’s like the Amber supply token that I was looking into, in their whitepaper they said they will make sensors that will measure DNA/Protein quality (or something along those lines) of products, and since I have a background in these types of things, as soon as I read this I knew they were talking out of their ass. Same thing applies here. In order to predict value and especially future value of something, you need to know if it’s feasible and what makes it work/tick, which goes beyond reading a diagram showing how it connects thing.
I disagree 100% with you, crypto/blockchains/aspects of crypto need to be adopted on a mass scale for a project like this to have massive value in the future. What’s the point and where is the massive value in connectings companies or blackchains when only the fringe population uses them? If blockchain and cryptos are not adopted on a large scale, then there is no massive value in helping to connect something that would be akin to like a black market because it would not be widely adopted. So 3 companies in S. Korea use blockchain and communicate with eachother through ICON and ICX tokens. Is that really that world changing and valuable on a global scale. Blockchain and cryptos would need to be widely adopted.
Which then brings me again to the BTC thing. You’re missing the point. I used BTC as an example because in terms of the general population, BTC is cryptocurrency/blockchain. Yes, BTC could go to zero and ICX could still be around, but as I wrote above, crypto/blockchain as a whole would still need to be adopted by the mainstream.
You also mention that crypto could disappear as long as blockchain lives on. So if blockchain lives on and some companies are ICON principles etc to process a claim, where do you get monetary value in your pocket from if there are no tokens with a set value/price? I don’t deny that blockchain tech could change business’ etc., but besides business providing better service to clients and getting a step up on competition, how do I make money if there are no tokens? By this logic, I shouldn’t be investing in ICON, but the companies that decide to use ICON’s approach in the future.
The average Joe will see the potential in what? How business’ and companies will thrive? Again, ICON makes business’ more competitive etc., how does that translate to money for people holding ICX tokens? If anything, they should be investing in these business’.
You told me the token has value for transfering data and helping business’ communicate better, but not how it has value in terms of putting money into your pocket with this approach. You even say it’s geared toward companies etc. and not you and I. So unless I plan on running an insurance business and I need ICX tokens to speed up my claims for my clients, how am I making money?
I personally don’t care if ICX goes to zero or not. I am looking for a good investment in terms of risk/reward, and the lower the price goes the better the investment opporutnity. If it doesn’t die, great, I get more tokens for less money. If it does die, whatever, I have been smart with my investments and I lose nothing and ICX is not the only crypto with potential.
“If it does die, whatever, I have been smart with my investments and I lose nothing and ICX is not the only crypto with potential.”
I’m interested what coins you believe have more/the same potential as ICON. as i can think of very very few at this point.
Bro, im getting tired of going round in circles now and I think we are just going to repeat ourselves but word it differently.
Let’s just clarify something again… the value of ICX for you or I comes from the usage of it within the ICON network. Take Ethereum, when Cryptokitties or something else happens on the network like a big ICO - the demand increases which drives up the price. THAT is where we make our returns on the ICX token. When I said Crypto could disappear I meant everything else outside of ICON because for ICON to function it literally NEEDS the ICX utility token.
Even if there were just 3 companies using the ICON nexus that’s still a working product. They already boasts tens of companies anyway. This has nothing to do with the mainstream you’re referring to because this is about institutions. Companies could use this and it wouldn’t matter if the average Joe knows or not - it doesn’t need that sort of mainstream adoption! Obviously the more connected companies the better!
The token itself does not transfer data - it’s a fee for connecting different blockchains. How you make money? I answered that with the Network effect and demand for use of the token.
Your entire point could attached to any and every project in Crypto. I’m here to talk about ICON.
I’m not sure if there’s anymore I can add to our debate mate. It’s been good but we will just have to agree to disagree - let’s revisit this when I’m either loving my investment choice or not.