/biz/ - Business & Finance

I'm actually more qualified to talk about this than most anons.I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.

Now I can already hear your keyboards going frantic, but hear me out. /biz/ hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.

'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have high reputation, but in real life not on a computer screen.

The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. Only, this billion supply coin isn't going to come close to the $1k that Ethereum hit. Happy gambling though anons.

>>10584885

>>10584885
Nothing in that post explains what chainlink does or how it actually solves a problem/creates value.

>>10584897

>>10584908

k

>>10584878
How difficult is it to google chainlink, watch a vid, and read some information? ffs do your own research faggot

>>10585013
Typical linkie response “google it and figure it out yourself” he says trembling, hoping that no one will notice that he as well has no idea what in the fuck chainlink actually does.

>smart contracts

>Would you ever invest in a company whose sells a product you don’t understand?
you fags told me $1k EOTY and I'm too lazy to do my own research

>>10584878
IT's a fucking scam token anon

>>10585042
1k EOY in South Korean Won if you’re extremely lucky linkie.

>>10585065
can't wait to be able to buy two apples from the store. cheers anon

>>10584878
Hey friend! Determinism. Philosophical concept, yes. But that’s why it’s a good thing that Sergey was a philosophy major.

https://ethereum.stackexchange.com/questions/301/why-cant-contracts-make-api-calls

All nodes need to be able to recreate the initial conditions of “Blockchain reality” and be able to derive exactly the same result. Unfortunately if the data came from the internet, you run the risk of that data changing when you need it in the future to recreate reality! Why? Because the data provider isn’t a “rational actor” in your economic system (your Blockchain). This means that they may give you different data, rendering it impossible to achieve CONSENSUS.

sergey wants to connect blockchains to the rest of the world/economy/data and therefore make it all actually useful to anybody other than a bunch of neet speculators

what the fuck is unclear OP, sage

>>10584878

All you really have to know about it is that it will NEVER be $1k and sure as FUCK won't be even $1 EOY.

>>10584886
You’re talking to a wall of pajeets unfortunately

>>10584878
Chainlink lets you use smartcontracts for everyday payments etc.

It also connects Blockchains to non Blockchain platforms, so you can store information on the Blockchain without using one. It's an incredible innovation.

>>10585200
Of course it won't be 1k dumbass

It's $2500 EOY!!!!

>>10584878
It's been explained for months and months already. Most linkies are tired of having to repeat it.

>>10584878
>comes to biz to learn technicals about a project
>people tell him to DYOR
>he doesn't
>makes a thread about it instead

To answer your question. No and you shouldnt either so dont buy chainlink until you actually look into it instead of asking us to spell it out for you bitch.

>>10585035
Lol, we are already all in.
It doesn’t matter even if we don’t understand it (I do).
The only difference is that we will be rich and you will die poor. (Unless you buy link)

>hey Joshua, have you written that SmartContract so it automatically pays out the dividends to our investors once our licenced product is sold?
>yea Mr. Luckenstein, just one question how can I reliably tell the SmartContract that the product has been sold through all the retailers and has met the customer?
>1k EOY

honestly OP you'd have to be a really high IQ individual to understand ChainLink

>>10584878