/biz/ - Business & Finance

What do you mean, “the next bitcoin?”

>>11625644
what I mean is that it's going to skyrocket like bitcoin did

>>11625673
Why?

>>11625719
Hes trying to sell you his bags dude. Don't take financial advice from strangers on the internet

>>11625629
Honestly no its not..i really hope its not...bitcoin is a piece of shit...it literally has no use rn 10 years in the making and nothing has happened nobody is using it as 'currency'...on the other hand link as a fucking purpose and it will succeed because it actually fucking does something...also a huge reminder not a single cryptocurrency will be adopted without chainIink, if you did the research you know why

next 2 weeks

>>11625743
I just wanted to see what he’d say

>>11625748
How can you say “not a single cryptocurrency will be adopted without ChainLink? You do realize cryptocurrencies don’t need smart contracts, right? That in a lot of ways, smart contracts could be bad for some of the libertarian aspects that cryptocurrencies offer...

Be honest, how long have you used cryptocurrencies and been interested in blockchain? Also, how have you formulated your viewpoint: self research, employment, conferences, school, or mostly just biz?

Do any of you stop to actually objectively think about what ChainLink is? Everyone just assumes it is going to moon because they saw Bitcoin and ETH moon.

I’d be surprised if anyone here could articulately describe why they think ChainLink will be worth billions of dollars. It isn’t a “blockchain version of Salesforce.” It doesn’t create extremely valuable products and APIs like Google. So how does it garner a multi billion dollar valuation. I’m just interested if anyone here actually thinks.

>>11625849
coin mc != company mc

>>11625809
Bank payments, mannn.

>>11625809
you are so far behind its not even funny, i really encourage you to read about link. Im being genuine, what you just said shows me you have no idea what you are talking about. You literally dont know what its going to take for a cryptocurrency to be adopted. If you think you can rewire people to use X shitcoin instead of fiat than you are living in lalaland. For companies to benefit from the efficiencies of blockchain but still use fiat in the input and outputs, you need Iink. Please stop beong dumb and research this its all infront of your eyes, smart contracts are the tip of tje iceberg for link and its one of many things it can do.

>>11625853
ChainLink’s network isn’t company equity. I’m asking people to actually think why ChainLink’s network is potentially so valuable, because I know not many people actually do.

>>11625856
Saying “bank payments” means nothing. You think if banks use ChainLink in some aspect of value transfer they’re just going to say “hey, let’s just put X% of each transfer into this ChainLink network.” They won’t.

Actually think about what ChainLink represents. Think of some kind of analogies to existing companies and how those companies make money.

If you don’t do that, you’re just a normie throwing money around based on hopium. Saying “ChainLink is the next bitcoin” is retarded. Not being able to conceptualize, at least partially, how the network will garner value is also retarded. It’s okay to say you don’t know if you don’t.

>>11625809
One year ago i promised myself i would 'find the next bitcoin' im a neet so ive had the blessing to literally spend 12 hours a day research every possible shitcoin there is. Link is literally the holy grail of crypto. Theres is nothing like ot, especially after they acquired towncrier. Ive gotten 90% of leads from biz, looked into it myself and it all checks out. Im just gunna say this..if link doesnt work EVERYTHINGS fucked

>>11625849
Because connecting real world (“off chain”) data to all the blockchains in a trustless manner is the next step in cryptos evolution. It’s quite literally the foundation for the future.

buy link now

>>11625937
Can you actually think for yourself or do you need someone to spoon feed you to formulate views on more complex ideas/systems? I don’t mean that insultingly, but do you genuinely try to view things objectively or do you just look for information to confirm what you want to know anyway?

>>11625944
You’re the first person actually thinking so far...keep going...

>>11625937
Btw, you’re wrong with that final conclusion that everything is fucked without Link.

>>11625849
I don't know about this moon stuff but the project has real utility and bigger than crypto if it works like they intend it.

Unlike other dApps this thing would actually make smart contracts a viable thing for banks, derivatives, insurance companies that use API data.

To be clear chainlink doesn't create API data it just secures the data end to end, to and from the smart contract in a manner that is secure (via decentralization of node Oracles).

I look at the top 100 and only a couple coins have actual use cases.

Bitcoin - store of value (gold)
Ethereum - smart contracts platform
Monero - digital privacy currency

Everything else is a fork or test bed for something that could potentially be valuable in the future. None of them show me legitimate promise with the exception of Chainlink.

It will pretty clear whether this is another useless dApp closer to mainnet launch when we see how many node operators there are. I have a feeling there will be hundreds of node operators post launch.

muh json parser

>>11625809
Because until traditional finance merges with blockchain based finance, there is no way any crypto goes mainstream. It will forever be a haven for speculators and nerds, both of whom will die out eventually. You want your shitcoin to have a shot mainstream? You need chainlink to give people direct access to your otherwise worthless network.

>>11625849
There’s no reason to hold BTC except speculation. At least ETH is used as gas, and if they manage to switch to PoS someday, you have a functional reason to horde coin. Chainlink similarly relies on collateral as assurance of quality data. If you don’t know that yet, I’m sorry you missed under 3k sats a few months ago. Sure it’s all speculation until mainnet is live, but just wait- the token supply will move away from exchanges and funnel into nodes. The value will be inextribly linked to the value of consuming contracts requesting the data

You’re all ignoring ChainLink’s main purpose. Everyone is comparing it to other networks or entities with completely different utility. Doesn’t seem like many people are viewing Link for its main purpose: security.

What are some existing companies that provide data security, how do they operate? How and why are they paid?

>>11626102

They pay security guards to stand outside their data centres? They’re paid to protect, in USD mostly.

Did you see that R9k thread earlier discussing link? Lmao I'm getting 2010 vibes

>>11625849
There are many reasons why LINK will succeed but the one that really seals the deal for me is the notion of collateral. The token price will be proportional to the amount of collateral needed across the system. A simplified example would be, say there are only 50,000 LINK tokens in existence (forget the 1 billion tokens, this is a simplification), each worth $1. There are 100 smart contracts each worth $10,000 each on mainnet, so $1,000,000. They want 10% of that as collateral, so that's $100,000. But the total mcap of Chainlink is only $50,000 in this example. The token value must rise to $2 to make up the difference.

Now if you consider the kind of numbers financial markets are dealing with, in the trillions and quadrillions, even tiny fractions of a percent of that being shifted onto a smart contract system, and thus requiring collateral in LINK, gives insane valuations to the LINK token.

Pre-empting responses I've seen to this reasoning before, you might say "but how would the price rise to meet the demand? what mechanism?" it's a stupid question because it's exactly the same as any other coin, simply supply and demand.
Pre-empting another question, yes, it's simplified because we're not taking into account different time frames, but that's the kind of thing you would need to build a mathematical model to account for, and that doesn't make the simplified model invalid at all.

>>11626131
Great response, thank you!

>>11625974
I really try to look at it as objectively and practically as possible. I know how emotion can take hold and make people delusional, im not trying to do that, but i am passionate about it because of how much research and hours ive put into it. Even if we think for a minute about it, it is true that smart contracts NEED outside data or else they are only useful for moving tokens around and nothing else. To bring those smart contracts into the real world you need them to communicate with real world, older sysems, link does that and thats only ONE thing they do out of many. Sergey himself literally says this in the first minute of every one of his presentations, he says all this exchanging of tokens is nice, but really meaningless if thats all youre going to do. This is my last time saying the blockchain sphere needs link.

>>11625985
Thanks for backing up your point, aside from cryptocurrencies, other tokens are going to have to communicate with the real world somehow and that somehow is link.

>>11625987
This guy gets it...LlNK WILL CHANGE HOW THE WORLD OPERATES DIGITAL AGREEMENTS

>getting btc vibes desu

>>11625743
Not all heroes wear capes.

>>11625937
Whats special about towncrier?

>>11625809

>smart contracts could be bad for some of the libertarian aspects that cryptocurrencies offer...

Considering smart contracts have the potential to make courts/state-backed arbitration obsolete, it's a net positive for libertarianism.

>>11625921
>Saying “bank payments” means nothing. You think if banks use ChainLink in some aspect of value transfer they’re just going to say “hey, let’s just put X% of each transfer into this ChainLink network.” They won’t.

Okay, so imagine businesses being able to pay employees via smart contract. Bosses/owners seeing that they have the potential to no longer pay a payroll company/accountants to pay their employees.

Imagine data pulls from the timeclock when employees punch in, and the smart contract is written to direct deposit into their bank account as soon as they punch out, from data provided by the clock.

You're looking at saving thousands of man-hours, postage, printing, etc. yearly.

the tokens give you the privilege to run nodes and accept jobs to earn money, creating demand to buy the tokens...

>>11625629

Bitcoin? Is that the one shit blockchain ran by cockstream that doesn't scale and takes hours to confirm? Lmao

>>11625629
nocrypto fag here. where do i start?

I just exchanged 20 ETH after working for months to save up but wasn't able to transfer them to Link on Binance before it went up. I know I messed up but do I go all in now or wait a couple of days for things to stabilize?

>>11626373
And, taxation in real time as well following this model. Openlaw is already talking with the IRS. Those use cases... Biz is so far ahead it is actually quite scary. Unironically all of us are gonna be millionaires.

>>11626442

Just buy it.

>>11626442
What are a few fuckings cents when this shit hits $50+

jsut buy now

>>11626430

Buy 100k ETH on Coinbase, transfer it to binance, go all in Chainlink

>>11626442
trade it for btc and send it to bitmex. then you can margin trade your way up to 200 ETH with relative ease

>>11626324
Im sure there is more too it than i can understand but IMO link aquiring TC is a HUGE move. Not only does it certify chainlink as being real but also cements it as THE number one oracle solution in the blockchain world, pretty much zero competition. We are talking about a product(tc) thats been built by the leading people of the field, and now they work for link! A lot of us knew this already because of the breadcrumbs(ari). Take a look at all the companies that were working with TC, now you can basically consider that link is working with them. Dont be scared to do research on this, its all out there, im just telling you the tip of the iceberg my nigga

>>11626745
how much longer do we have to accumulate? I won't have a job until summer

only 25k link i dont think i ll get to 50k by eoy

>>11626817
jobs are for poor people, just buy LINK.

>>11626831
ok adding more debt to my student debt brb

>>11625809
smart contracts could be bad for some of the libertarian aspects that cryptocurrencies offer...

>>11626817
Not long at all, chainlink is starting to marlet their company and new people are coming in everyday. Mainnet is soon too. I would advise you to start buying link asap, rn i dont have a job but im doing handy man things like mowing lawns, odd jobs ,etc and putting half into link. Ive always said it, any link under a dollar is a blessing. You def dont have much time at all..there MIGHT be a dip back to thirty cents, jump on that if you can...im accumulating til one dollar. Im at 8,700 linkies rn

>>11626937
I thought we had at least until 2020?

https://www.reddit.com/r/LINKTrader/comments/8qjne1/for_those_expecting_price_movement_when_main_net/

>>11627035
Accumulate during speculation phase, not when things are up and running. Just be aware there are dozens of coins with stupid high market caps into the billions, all with no product, just speculation. If links sails catche one of those winds than good luck accumulating.

>>11626704
Or just go to a casino and put it all on black.

>>11625809
>That in a lot of ways, smart contracts could be bad for some of the libertarian aspects that cryptocurrencies offer..

swing trader here. set a sell order at 9400 sats with 12k link. goingn to buy back again at 8700 when it dumps. this is risky but its the only way i can get to 50k by dec

>>11626442
It will be 60c in a day just buy now.

>>11626678
Do you keep it on binance? Or do you use an external wallet? If so I wouldn't know what wallet to use.

>>11625629
I have 670 linkies.
Am I going to make it?

>>11628220
Hold long enough and you might make a down payment on a nice house. Accumulate more.

>>11627947
use MEW with metamask if you dont want to spend $100 on a hardware wallet

its organic af
most people look at it in fiat, people dont buy it to accumulate more sats like some shitcoin. .50c seems high but its not anywhere near ath, or anywhere near the verge or tron level fomo growth you should be selling.
also a lot of good news accompanied the growth, evidence that it is organic. the 1w chart makes it appear like a pnd but on the daily you can see it was a steady climb. people are slowly accumulating in a shitty market with mostly scams. link has a good rep atm, it wont have much news in nov but neither does much else.
tldr get rekt swing trading faggots