/biz/ - Business & Finance

100LINK = suicide stack in 2021
Am i right?

hello sirs, I am putting together a team to assemble input hardware and write smart contacts capable of using the chainlink network for monitoring flush metrics with the ability to determine liquid from solid waste. we plan to market our system to metropolitan areas to enable building mangers a more accurate and nibble system for water works. thanks for doing the needful.

From the latest Chainlink blog post:
"When asked by Tom what those initial industries might be, Sergey responded saying “derivatives and insurance,” since both already use digital agreements and both have trust problems."

Ok lets stop here for a moment and think this through. Right now insurance companies don't need to have the funds to be able to serve all of their issued contracts, because they know that only a certain percentage of these contracts will need to get paid.
So if a company has issued contracts insuring a sum of $1 billion and based on previous data they know that only about 10% of all contracts get served, then they only need to hold $100 million to cover all their cases. (Insurance companies are insured themselves against some catastrophic events)

Now enter smart contracts.
So if an insurance company has issued contracts insuring a sum of $1 billion using smart contracts they need to actually have $1 billion in funds sitting in those smart contracts waiting to be executed or not. They need to have 10 times more funds than in the previous example.
Maybe it's even worse. If the strike probability is very low, lets say 1%, the insurance company would still need to actually hold the funds to cover every last contract even though 99% of them won't ever get served.
Smart contracts are only useful if the contract is very likely to actually trigger, which excludes basically all insurances.

mainnets are nice for pre pumps but nothing else. especially dapp utility tokens are suffering when they are launchon on mainnet (look at req) because then you can also see how much the dapp/network is really used. and based on usage price will go up/down

God dammit when will you faggots learn, Sergey has been lubing up your asshole for MONTHS

>>6958954
>i’ve been on this board for 6 months


>>6959423
>>6959427
Do not tell him shit, we FUD here

>>6952995
Give it at least 2 years. In the meantime go get a job.

This thread is about Sergay's unhealthy obsession with toilets now.

>>6791234
I don't listen to this shit but I deliver the YT link anyway:

https://www.youtube.com/watch?v=Ph-CA_tu5KA

>>6791351
in yo mom lol

>>6728088
Stop it, this can't be happening. How can you fork my shadow fork?
I must inform ripple labs. Bernanke vision must be preserved

rip

>>4812813
50c soon