Why I'm Responding to James Allan
Dear James Allen, here's a response to your video you did about is CASPA overrated? My response to Jerry Banfield and finally free from ICP's eight year prison. If you're in the ICP community, you'll enjoy watching this conversation because it hits some of the key issues that we're all thinking and struggling with. First, I love James Allen. We had an awesome call and interview that we did around a year ago. We joked around. It was one of the most fun calls I did. Out of everybody, I could definitely see hanging out with James Allen in person and having a good time. James and I have a lot of similar experience in our journey with ICP.
I deleted all my videos. He deleted all his ICP hype videos. Both of us, thousands of ICP, both of us really annoyed with how things have went versus the technology. James chose to move over to CASPA, and I chose to come back to YouTube and start grinding ICP. All over again. Thus, let's talk about, though, the details because if you're struggling, like, how does this all make sense? And should I go somewhere else? Is ICP finished? This will get into that. So I asked Gemini to summarize these to make sure I don't miss anything because I watched these videos a few days ago. So first, let's go through James's CASPA video, and then we'll talk about the ICP video because James switched over to CASPA instead of ICP.
So.
Reading the Price Charts: ICP vs Kaspa
James, first, let's just start on the price chart because, ICP normally gets a, real downer from the price chart. But let's look at the past year. ICP down 53 percent, but we did pump to almost nine dollars at one point. Now let's look at the CASPA price chart down 66 percent. So CASPA has actually dropped more than ICP in the last year, and it is just steadily went down from like 12 cents all the way down to three cents. So it's just been a straight down. It didn't even have much of a pump versus ICP got this huge pump out of nowhere. So it's based on a price chart.
I'm inviting James to come back to ICP. Like just the price chart on CASPA is not looking very good itself. Now let's go into these other details. James agreed with the CASPA and the security cliff that I mentioned, but not every. Yes, and that was a good point about subsidizing node operators. ICP just cut that one mission 70. But fundamentally. What does the technology do ICP's technology as I'll show you with caffeine AI here. ICP's tech does really amazing things. This website is the most beautiful website I've ever had. And I've tried lots of different sites. I've paid people to make sites. Then caffeine AI also made this other website that unfortunately I'm not going to use.
If you want to follow how I think about ICP against the rest of the market, I keep all of these breakdowns in my ICP Crypto playlist.
But the capabilities I use this to test caffeine's abilities. And I made a website where creators and advertisers can partner on creating content. And it's all done with crypto payments. But I'd have to get financial service licenses and crap in Florida. So I'm not going to use it. So I'm gonna put this on a marketplace though. So anybody in the world can just copy. I took like 70 hundred prompts to make this website. And then anybody's just gonna be able to take this and run this anywhere in the world. That is valuable technology. Kaspa sending transactions. Is not valuable technology. And that's the big differentiation like Kaspa sending transactions is so everybody else is sending transactions to in smart contracts and all the other narratives Kaspa is the money the marketing and the tech don't work like there's no scenario where Kaspa works out I mean maybe if you raise 10 000 or 100 000 different scenarios and timelines there's like two of them.
Where Kaspa works out. And I'd be interested to see those. I just doubt that we're in one of those probabilities right now.
The Fundraising and Panhandling Problem
Second the team's fundraising which I did call panhandling. Which was a bit critical but you know I give money to panhandlers. So I've given tens of thousands of dollars to people panhandling. If you're on the street panhandling and I pull up next to you I'll roll down my window and give you a 20. If you're on the corner panhandling I'll give you a 20. I've got certain panhandlers. I've given them thousands of dollars. So respect. Kaspa very much looks like the dev team's panhandling. And that I respect if you want to support that. A panhandler that's a real face to face interaction. They're going to go get some food or whatever else they're going to get with that 20 dollars.
But they're always really happy to see me when I got that 20 dollars. Is the Kaspa dev team really happy to see you James? Because the Kaspa dev team should be really appreciating you doing videos about them. Now the other point. James made in defending the team's fundraising. Which I said it's a bad sign if your project is going to be panhandling or donations for the dev team. That shows you don't seem to have much money. And in crypto if you don't have technology that's utterly dominant. Then you better be playing the crypto matrix game. And that's going to involve lining people's pockets and paying people.
And you know paying whoever you got to pay to get your coin marketed. So Kaspa doesn't have the tech and they don't seem to have the money. So I don't see how this is going to work out.
The Survivorship Bias Argument
Now James made what I would call a survivorship bias argument. Citing Apple and Tesla saying well Apple and Tesla. Which you know I'm very familiar with the histories of those companies. And from reading the Steve Jobs book and the Elon Musk book. And from my other research. But the survivorship bias is invalid in this context. Because for example the easy one to use with this is Brad Pitt. Brad Pitt moved to LA. Wanted to become an actor. Started waiting tables. And then became a famous actor. It's survivorship bias to say that well if you want to go become a famous actor. Just move to LA and start waiting tables.
And you can be the next Brad Pitt. Because what that doesn't take into account. Is all the other people who did the same thing Brad Pitt did. But did not get Brad Pitt results. Same thing with Apple and Tesla. These are outliers. These are exceptions. The majority of companies who get into the desperate funding situation. These two got get bought out. Or go out of business. So these are outliers. These are exceptions. And you're saying that Kaspa is an outlier and an exception also. And I find that highly unlikely. It is very unlikely. Kaspa is an outlier and an exception. To me Kaspa looks extremely ordinary.
Haven't seen thousands of altcoins and blockchains. Nothing about Kaspa stands out to me. Now the leadership. I thought this was very interesting. Because when I look at the clips you showed to Jonathan. And I look at Dominic Williams. And to go back to the Apple analogy. I see Steve Jobs. When I look at Dominic Williams. Like this is a crypto Steve Jobs two decades later. Dominic Williams gives me and has from the very beginning Steve Jobs vibes. Now yes Dominic constantly goes on with all these different projects. And you could argue you know Steve Jobs goes after the iPhone and Pixar. And all kinds of different stuff.
And that worked out eventually really well for him. Aside from you know his early. You could argue. We don't want to go off too much on it. But Steve Jobs had all kinds of these entrepreneurial tangents and stuff. Also in the ones that worked out really well. Are what he's known for. Like the iPhone today. Now when I look at Jonathan. I don't see somebody that when I follow them. Is really blowing my mind. With new insights about the entire paradigm of crypto. That I haven't seen before. I do see somebody who looks like a brilliant well sighted computer scientist. As you say. But I don't see somebody that I'm like.
You know. I'm getting Steve Jobs vibes from. Last thing. Organic versus forced growth. James points out that despite raising less money than ICP. Kaspa has achieved a similar market cap. So far. Yes. Kaspa is also much newer than ICP. Having come out. Well I mean it's a year newer than ICP. But it's only recently even been on the radar at all. And the question is not. You know. How long has it been out or any of that. But where are we going from here. Why would the Kaspa price ever pump. Outside of somebody getting financially engineered. To help pump it. Why would Kaspa pump at this point.
When there's all these other altcoins. And they're all throwing money around too. And Kaspa is still not listed on Coinbase. Or some of the other major exchanges at this point. Like it's not on Binance. And I cite. James said it was virtuous. That they didn't take Binance's terms. Well if you want the liquidity. It is on Binance. And it's on Coinbase. And the Kaspa is not on there. So that doesn't look good. So when you look at organic versus forced growth. ICP is mostly had organic growth as well. Because the rest of the crypto space. Has not covered ICP hardly at all. Now which is going to have better organic growth in the future.
It's clearly going to be ICP. Kaspa has almost no organic growth angle going forward. And that's why it's probably indefinitely going to slip behind ICP. In market cap. So the way I see it. If I was James. If I was you. At this point. I would rethink the Kaspa position at a minimum. Not financial advice. And I have 60. Now I have 6700 ICP. Because I bought some. And there you go. I have 6700 ICP now. So let's talk now. I'm realizing I could have probably started with the ICP section. And then went into the Kaspa. But because most viewers probably more interested in ICP.
This is also why I stopped obsessing over short-term numbers, which I explain in Crypto Market Caps Are a Distraction. Only ICP Is Real.
But here we go. I hope this has illustrated some of the values for ICP. Also. So James then talked about being free from ICP's 8 year prison. And I'm grateful for this too. That I could power. I still talk steam terms. I could dissolve my neuron. And I could have my ICP back in just 2 years. I'm really grateful for this also. And that the interest rate is still solid. I'm very happy. I did not like the 8 year lock up. I didn't like missing out. On everybody with 8 years getting such higher interest. I think this change is great. And I'm very happy to be free from the 8 year prison myself.
Now next thing.
Why the World Computer Concept Still Matters
Shift from the world computer concept. Now I get. James listen. I get being disillusioned with internet computer protocol. That's why I deleted everything for 9 months. And if I could have sold everything. There's certainly a possibility I would have. But I was stuck holding my account. And IDGeek went down. So I'm like well let me just ride this out. And I'm glad I didn't. Because the world computer concept is important. James do you see any other solutions for cyber crime. Or for verifiable AI. Like I don't. And these are huge problems. ICP is offering the only solution with the world computer concept. And the concept is seen very clearly.
And being able to make a website like this with AI. That is so much more secure because it's on the blockchain. And I can just take the code somewhere else. The hosting is super cheap on it. And it's very scalable. Because the canister could just be topped up. Like this. And then being able to make a business system like this. Where you can just create campaigns. And have it all paid in crypto. Like this is amazing. This is a world computer concept in action. Kaspa just doesn't have anything that's even close to this. And yes the world computer concept may not work. Because if all these people who are making insights.
Or profits from hacks and security vulnerabilities. If they don't want a more secure internet. They will resist as much as possible. In getting ICP adopted. Because then they won't be able to keep stealing. Through all this cyber crime. And the AI will continue to be human controlled. And able to be manipulated. So yes there's a possibility this won't work out. But I'd rather invest in something that I want to see. That looks like it's got a high probability of working out. That solves real problems for the world. Failed pivots. Let's talk about this. James criticized Dominic Williams for CKBTC. CKETH. You know Caffeine AI cloud engines.
Like cloud engines are you know basically rebranding a utopia in some ways. Caffeine AI works. Like this is absolutely incredible for a blockchain. Because here's what James. If I wanted to build. Look at this. Which I'm probably will unmap this domain at some point soon. You know so that people. Can't actually put stuff on this. But. This. Look at what you can do on this. I had to know whether caffeine was really powerful. And I was going to use this until I looked the laws up. I should have looked the laws up first. But. This. What this tech can do is incredible. That you could create something like this.
Like I don't even know how much it costs to create this without this. And it'd be a nightmare. But this. So right now. I created this because one of the main ways. It seems people are going viral right now. Is paying. People to clip. From their videos. So this guy. What's his name? Clavicular. So he seems to have went viral. Because. Kik com. Live streaming platform Kik. Has paid a whole bunch of clippers. All over the world. Tiny CPMs. To just clip parts of his content. And then upload that. And blast that all over the internet. And then it promotes Kik com. And it promotes Clavicular.
And it seems they have another series of partners. So. I looked around to try and find platforms. Where I could just pay people to clip my content. And none of them. Could I just. Stop on. And create an ad campaign. I mean literally. There wasn't a single platform. Where I could just go on. And click create a campaign. And put my content straight to clippers. There were some communities. And there were some kind of like. Crappy little business systems. Where it looked like. If you emailed somebody. Then you might be able to get access to their clippers. So I thought. Let me just see if I can make my own on Caffeine AI.
I literally went on Caffeine AI. And I made. I went through 73 versions. Of the website. And now. Look at this. Like this is incredible. What you can do. If you go to your wallet on this. You can deposit ICP. Swap it to CKUSDC. Then you can click on advertise. When you click on advertise. It brings this entire thing up. And then when you submit for review. The admin can then approve it. The platform takes a fee on it. Automatically. Because it's all in crypto. And it's all in CKUSDC. And then at the. You can then earn. By submitting directly to campaigns. And then all the payments are processed.
Automatically on the back end. And it's all secure. Like I don't have to worry about this getting hacked. I did a security audit straight in Caffeine AI. I could do. If I was going to really run this myself. I could do a more thorough security audit from people outside. But the fact is. That Caffeine AI built me. An entire business system platform. I don't know. This probably would have cost. Tens of thousands of dollars. To try and build some other way. It would have been easy to hack into oblivion. And you could not do anything even close to this. With any other technology I'm aware of.
And for $30 a month. I built this. Myself. Not being a developer. Hardly knowing anything else. And if Florida. Especially Florida. If Florida wasn't such a pain. In my ass. About having all the different financial laws. And if I didn't want to buy. If I wanted to bother getting money. Transmitters and stuff. I'd run this platform. And this could turn into a six, seven, eight figure business. Off of something I created on Caffeine AI. Now you're talking about. Failed pivots. And criticizing Dominic Williams. The fact is Dominic has built something. That works. And does things that nothing else in the world does. And solves real problems.
If you want to see exactly how I built this whole platform without writing code, I walk through it step by step in Caffeine AI Tutorial: Build Apps on the Blockchain by Chatting.
And gives people like me. All over the world. The ability to create entire business systems. With the blockchain. Once developers find this. And they see how fast they can crank out crypto apps. This is a game changer. And this puts together. The bridges that you criticize. That no one cares about. And Caffeine AI. Is special technology. And when people see this. Like me. They'll be blown away with what you can do. And especially when people publish more apps to the marketplace. You can just copy someone else. This is incredible. Now James says he doesn't think blockchains are meant to be. Compute layers or replacements for web 2.
Because web 2 handles general computation efficiently. They should be used for entirely different purposes. And yes. That is fine. If it doesn't have to be secure. If it's okay being hacked. Then sure. That makes sense. But the future internet needs to be more secure. Because otherwise. My website can easily get. Just obliterated by hackers. You could go there and there could be anything on it. And then because of that. I could get banned on other platforms from my website getting hacked. So the future of the internet. Needs to be much more secure. Especially with AI. With people being able to use AI to deploy attacks.
It is easier than ever. For an individual to cause absolute mayhem. With AI. We need a more secure internet. So what I see. We need blockchains. To be able to provide real value to the world. Not just transactions. But real value. Not just smart contracts. But they need to do the whole thing. So to me. ICP is where it's at. It's where it's going. And I invite you James. Come back over. Join us. We'll all be very happy to have you. Back in the ICP community. This is where the future is going. Now that's not certain. The world could continue to just get hacked into oblivion.
And we could all just degenerate into some awful future. To me ICP. Is going in the opposite direction of that. And if we're going in the degenerate. Everything falls apart future. It kind of doesn't matter anything else. I might as well just play video games. On my Jerry Banfield gaming channel. And just have fun and YOLO. And don't worry about anything. Last thing I'll say. James says nobody's building with this stuff. Here's an example of just one company. That did an interview. They're very excited. And from what I've seen. They've built a whole bunch. Like 50 layer 2's all on ICP. Similar to how I built Jerry Banfield net.
They saw a problem. They just set up and started building all kinds of this stuff. So there are absolutely real people. And real companies. Building on ICP right now. There are solutions that we've seen on ICP. That are amazing. Like for Bitcoin Runes. And some of these are going to pop off. I'm not sure which ones. Caffeine AI looks like it's going to pop off. Some of the things other people are building. Some of these things with governments are going to work out. Something's going to happen on ICP. You've still got all your ICP. From what I understand. And you lost your age bonus. But you can still get a nice APR on it.
ICP content is really appreciated. I am seeing your views. On your Caspa videos. And I guarantee you. Look at the views. You got 1 6k views. And you got 1 7k views. You're getting more views on your ICP content still. Than your Caspa content. So the views on your own channel. Would seem to indicate. People appreciate what you have to say more about ICP. Even if it's critical. And I'd be interested to see. If you could build the Cityscape app with Caffeine AI. I bet you can. And I bet you'd be in a great position to do that. So this is my invitation for James Allen.
To rejoin us on ICP. Thought about what you said for days. Got my response video out. And if anyone wants to schedule a call. And talk with me. I'd love to hear what any of you have to say. You can hop on a call with me for 30 minutes. If you want to support me. This is the way to do it. Hop on a call. Talk with me. Share. Listen to me talk for 20 minutes. I want to hear you talk for 30 minutes.
You can also join the rest of us working through these same questions together in the Jerry Banfield Family.