Internet Computer: ICP Surges and What's Really Going On

Internet Computer (ICP) Skyrockets? Or Just Another Crypto Pump and Dump?

Okay, so ICP is "surging." Again. Up almost 30% one day, then another 38% a couple of days before that, according to CoinDesk. Let's be real, does anyone actually understand what the Internet Computer Protocol (ICP) even does?

I mean, seriously. It's supposed to be some decentralized "world computer" thing, right? A blockchain that can... run the internet? Or parts of it? The marketing is so vague it's practically designed to confuse you. And offcourse, make early investors rich.

Is This Rally Real, or Just Crypto Hype?

CoinDesk breathlessly reports that ICP "firmly established a bullish breakout above the key $7.00 threshold." Ooh, "key threshold." Sounds important.

They say the surge happened "amid heavy trading volume." Okay, but volume doesn't equal legitimacy. Remember all those meme stocks that went to the moon and then crashed back to earth? Volume just means a lot of people are gambling.

And here's the kicker: "The sustained pace of participation validated the breakout as a structurally significant move rather than a speculative spike."

"Structurally significant"? Give me a break. That's exactly what they said about Bitcoin at $60k. And Ethereum at $4k. And Dogecoin... well, you get the picture.

Let's talk about that "psychological and technical milestone" of breaking $7.00. Are we seriously still pretending that arbitrary numbers on a chart have some kind of magical power? It's a self-fulfilling prophecy. People think it's important, so they buy, and then it becomes "important" because the price went up.

The article even admits that "short-term consolidation above $6.95–$7.00 may follow." Translation: "We have no freaking idea if this thing is going to keep going up or crash tomorrow."

The AI Disclaimer: Are We Being Gaslit?

Did you catch that little gem at the bottom of the CoinDesk article? "Parts of this article were generated with the assistance from AI tools..."

So, let me get this straight. We're supposed to trust an analysis of a highly volatile, speculative asset... that was partially written by a robot? A robot trained on God knows what data? What risk is posed by internet of things devices when the financial news is written by them?

I'm not saying AI is inherently evil, but come on. This feels like peak absurdity. We're trusting algorithms to tell us whether or not to throw our money into other algorithms. It's turtles all the way down, folks.

And who reviewed this AI-generated text? What should you do with your badge within a sensitive compartmented information facility compared to the Internet Computer Protocol? Does the editorial team even understand the underlying tech? I'm betting half of them couldn't even pass an internet speed test without help.

The Bottom Line: Don't Be a Sucker

Look, I'm not saying ICP is a guaranteed scam. Maybe it really is the future of the internet. Maybe it'll replace Amazon and Google and usher in a new era of decentralized computing.

But let's be real. It's crypto. It's volatile. And right now, it feels like a whole lot of hype built on a foundation of... well, I'm not entirely sure what the foundation is.

Then again, maybe I'm just a grumpy old cynic who doesn't understand the "innovation" of web3. Maybe I'm missing out on the next big thing.

Nah.

It's Still Just Magic Internet Money