/biz/ - Business & Finance

The main FUD addressed: how can a company spend 2 years and $32 million without delivering mainnet? This answer is simple: the technical hurdles of the network have never been the real push. Chainlink's touted value is in connecting the insular tech of blockchains with real world events. More so than an engineering challenge, it is a social and political one--- how do you reshape the existing (and often hostile) API marketplace to a new model, create a framework that makes API data accessible, affordable, and navigable, create/organize a diverse community of node operators, and make the services attractive, useful, and accessible to industry? This is a dimension of social development that most freefloating blockchain projects havent had to address, and indeed its where all the hype and speculative value in link resides. It's clear that they understand this: beyond spending precious ICO money on acquisition and hiring, the bulk of their energy seems to be used in developing the connections, framework, and awareness that mainnet will require to anything more than vaporware. And that's what all the excitement here has been about. For all those who say the Tom Gonser affiliation isn't important: even if theyre not entering a direct partnership with Docusign, his enthusiasm for the project, reputation, and industry connections adds immense value to the real development of the project, as well as the value of the network and tokens that gives the company greater financial and networking latitude. Unlike many other blockchain projects, they are spending immense time and resources building their real social infrastructure before the release of their technological product, which is probably long completed.

Of course, the company's high valuation depends on them delivering a product and accompanying infrastructure off the bat that works. People here say its way overvalued--- but is it really? As a speculative gamble, its made far more social and real world inroads than most other projects. I would venture to say that the value of the project is one of the strongest and most justified in real fundamentals even though mainnet is being withheld. I would not be surprised if mainnet release is accompanied by a reveal not just further partnerships, but also of node community organization efforts, previously obscure dealings with API providers to create a functioning marketplace, and a readymade network of applications/entities who are lined up to use it. The issue at hand has always been that if they released mainnet without any data providers, nodes, or users, who the fuck would care? And frankly as long as its significantly lower cap than dogecoin I think the valuation isnt unreasonable.

Sorry for the sloppy punctuation. I'm slightly hung over and phoneposting from the park. It's a fucking beautiful day.

>>13394134
>>13394148
>>13394163

too long; didn't read

>>13394251
same, is it SHORT or LONG? Can you tell? Op? Can you tell?? Answer, OP? Can you??????????

>>13394134
>>13394148
>>13394163
Fucking based my G. Cake has been baked. Now we wait.

>>13394251
>>13394268

This post wasn't meant for you

>>13394163
>the company's high valuation
We don't really know what's the valuation for SmarContract the company. Yes they sold a lot of tokens like Epic Games has sold a lot of v-bucks, but we can't equal that with the valuation of the company right?

>>13394367

You're right, I meant to write the value of the chainlink network. Not SmartContract the company.

>>13394134
you in central florida?

>>13394163
why do you use dogecoin as a reference? chainlink's value at the moment is fine where it is because it's value comes from it's network, which at the moment is 0.

if they released mainnet without users/nodes, someone could just fork it.
to ensure that chainlink's network will be the main mainnet, its actually required that there be a bunch of operators/users right at the get go to kick off the network effect.

Based bread

>>13394134
>>13394148
>>13394163
200IQ post. What I most like about the hiring of Jonny is that as well as being a solid dev, he is an absolutely 100% deluded linkie. Imagine being able to hire someone who would continue working on your tech even if you DIDN'T hire him. That's a good team member.

so linkers, would you sell it to me at least once.
all i want is a concrete real life example of what chainlink is capable to do. no abstraction

>>13394625
its capable of tracking every step of the production of bigmacs through revolutionary iot tech.

>>13394134
will I make it with 7K link?

>>13394641
no you need at least 7,001 LINK, sorry.

>>13394625
Turn fiat to bitcoin and bitcoin to fiat without a centralized exchange

>>13394625
We dont spoonfeed you, go all in or regret it later.

>>13394625
>equities, options, futures are valuable markets
>currently costs a lot for collaborating financial institutions to maintain and reconcile databases which contain data relevant to these markets
>much of this cost is reduced or eliminated eliminated if blockchain is used
>encode equities and derivatives trading platforms as a smart contract on a blockchain
>platforms need price feeds for relevant asset classes
>need middleware called oracles to get price data
>if oracle is centralized the point of blockchain is completely negated
>chainlink is decentralized oracle network with many independent nodes getting price data independently to maintain end to end trustlessness
is that concrete enough?

>>13394649
will I make it with 8000 link?

>>13394813
FUCK HOW MANY TO MAKE IT IM BOUT TO FAINT

>>13394625
This is the laziest thing I've ever read

>>13394625
you can profit off fuck prostitute

>>13394625
Fucking disgusting newfags, newlinkers, and nolinkers finally starting to question their idiocy make me sick.

Literally two seconds on google and you’ll find articles about Chainlink in Forbes, MIT Technology Review, reports on CNBC, hours and hours of talks on YouTube... warosu has over a YEAR of serious in depth discussion about everything to do with Chainlink, dissecting every last detail... there are thousands words long Medium and blog posts explaining Chainlink from start to finish...
And you want to be spoonfed a personal reply, tailored just for you? Typed out for you, personally? Um no sweetie. There’s a reason you got zero decent replies and that’s because we refuse to spoonfeed newlinkers who are too lazy to type into google. We spent a year researching this shit every single day and holding even through painful dumps to 20c. And you show up demanding info? Can you see why no one wants to give it to you easy?

You have to have gone through this experience, the months and months of reading and searching and learning, to truly understand, and to get to the point where you know it inside and out and will never sell. If someone types you a few lines, you’ll read them, you may buy some LINK, but you’ll just sell sooner or later for whatever reason because you didn’t really KNOW anything. So it’s pointless to explain it to you anyway

>REMINDER:
Do not spoonfeed the newlinkers - the ones who make low effort posts demanding tailored research just for their little pathetic low IQ queries. Why not? Well,
1) They don't deserve it.
and
2) They wouldn't understand anyway.

>>13394844
HOW MANY TO MAKE IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!

>>13394855
If you have to ask, you don't understand the project

>>13394134
Based

>can't even reach 1 fucking dollar

Except it's literally dumping right now.
Target: 3000 sats

>>13394844
It's against the law for niggers to ride horses in this territory.

>>13394134
You Pajeets are getting smart. Instead of low effort shilling 100s of scamcoins, you all band together and shill LINK. English is very good too. I'd almost say you all deserve to win. Or is this is a bot convo Sergey wrote?

Thanks burak

>>13394768
>>13394817
>>13394830
>>13394855
im sorry, you will need 1 billion LINK tokens to make it, sorry anon.

I consider this a gamble. Bought 1500 Link and observing what happens.

>>13394625
Fat lazy fucks like you can hire some half ass coder to create a smart contract betting system that will payout in ethereum should you lose x amount of weight using chainlink scale connected to Ethereum. The smart contract will inevitably take all your money from losing the bet because your too much of a lazy sow to accomplish anything in your life, such as taking half an hour out of your miserable day to research a start up company.

>35 million tokens
Kek

>yfw chainlink is needed for eugenics use case in the real world

there is a vishnu in the smart contract

>>13394134
I appreciate your thoughts, and agree, thanks for sharing.

>>13394625
Give me a few minutes and I'll find one of my 3 post educational copy pasta from October 2017

>>13394134

its just one more useless shit coin on the market with no practical application that somebody would pay for.

>infrastructure before the release of their technological product, which is probably long completed
Delusions and hopium. Main net isnt fucking ready

>>13394817
30k is the minimum to make it

Great post. Chainlink has two team: development and bizdev. We hear nothing at all from the bizdev team, we know Sergey is a workaholic, what else have Dan Kochis, Adelyn and Mark Oblad been up to for a year?

You can see the industry connections, the MIT articles for example. Also see this article just before the ICO launch:

https://twitter.com/equcap/status/1118898951959171073

They have all the right contacts, they've done all the preparation. Sergey is perfect really... engineering family, management + philosophy, early VC experience, early to blockchain, a couple of early failures to learn from. Years building connections...

http://2016.ruleml.org/calls/blockchain-enabled-smart-contracts-and-rules

Just waiting for launch now.

Thanks for the kind replies, I'm happy to share my thinking about this because theres been little quality content lately about why to have faith in this project. To further clarify some of my thinking:

People were excited about bitcoin and blockchain in general because they believed it would change the social landscape of life, redefining where power and wealth lays as well as who gets to control it. It has failed totally because there is little understanding on the part of developers or community that those social changes have to be systematically cultivated for bitcoin to become what they want. I dont have the answer about how to do that but for one thought, there has been little group effort to organize businesses to accept it, to educate users on how to use it or at least make it more user friendly, or to push for necessary regulatory oversight so people dont get justed by scams and manipulations of the market by whales and exchanges alike. Instead it mostly became a toy for anarchists, libertarians, and unscrupulous opportunists. Moreover the astronomical value increases of BTC are probably more from its fringe appeal and programmatic nature (decreasing supply of new minted coins) than having had some profound social impact.

Chainlink is so interesting to me because almost all their effort is to change the social landscape of the area where their tech will be applied, all in order to make the tech WORK. And they can't afford not to--- the whole point of the project is to take the freefloating deterministic nature of blockchain and make it somehow function in the more slippery realities of meatspace social and business life. The existence alone of LP and CLC group is proof of its success so far in this; groups affiliated or inspired by the project want to create frameworks that will organize the implementation of the tech, both among users and data providers. Theyve apparently invested ICO money heavily both in tech, acquisition, and relationships that advance these real-world social frameworks. Definitely read the article in my original post, it's quite short. This all makes for probably the most solid fundamentals among a blockchain project with real world behavior--- by which I mean it is striving to reshape life, not just be a fanciful toy that functions in a disconnected environment. Very few projects are this ambitious or have come this far.

The bottom line is that theyve built up the value of the network (and tokens) cleverly using ICO money and now they will be able to use the big supply they hold to continue to grow the networks value. They will do this the same as theyve done so far--- buying or incentivizing strategic partnerships, acquisitions, and business relationships. Again, I think their valuation is actually not that overblown nor does it worry me that they hold such a huge supply. There's a sort of aversion on this board to projects where the team holds supply and is in charge of strategically distributing it, as opposed to the "fair distribution" of mining. Personally I rather think letting just anyone who has the resources to mine a coin become the principal holders of it is a disaster if you are trying to strategically and politically implement your project into the fabric of business and social life. The team will definitely hold coins for themselves; they therefore have more incentive to keep growing the tokens' value for own benefit than to dump them and run away. Effectively and strategically putting them into such hands that the network will function better is how they will ensure the continued growth of the networks value.

>>13396053
>>13396042

Great thoughts and quality points, thanks for sharing

>>13394492
That's what anon said

>>13396640
Thanks bro

>>13396058
This is a fairly accurate number for US & other first world residents, though 10k will be enough for the frugal or non first worlders. In some countries 10k will make you a king.

This is of course dependent on LINK actually succeeding, but if that happens within a year or two of main net 30k should allow you to never work again if you want.

>>13396620
>>13396630
>>13396640

>>13394844
Checked.

Based pasta of truth

>>13396640
im sorry OP. Sergey is just getting fatter and fatter. He has been giving the same speech to people for 2 years, literally same slideshows.

he still stutters and gets nervous. i dont think he even believes in the project anymore.

i wish what you said was right but i just don't see it


and this is coming from someone all in link.


the most sad thing about all this is that if link fails everything else might as well fail as well, all these blockchains etc.

but thats when i tell my self that it just has to work

link HAS to succeed and that is why im all in

>>13394531
update your memes
no longer friends with request network
docusign is new best fren

I just want to let everyone know I had a great day and I hope you did too

This is OP btw moved back to my computer.

>>13397469
Glad to hear that fren, see you at the yacht party

Those who said Sergey has no vision (the same speech!) have not been paying attention, particularly to his earliest appearances.

Chainlink is being constructed to fill the role of an idealised arbiter of truth, connected to the most perfectly dispassionate executor, in the form of public smart contract chains.

This is in fulfilment of the deepest Platonic ideals of contract and governance that have ever been conceived, but which have remained out of reach, mere approximations even under the highest forms of lawful Republic, as at every step human capriciousness asserts itself and corrodes the final product, the freedom of contract found when our pledges are given force by Leviathan. Alas, ‘from the crooked timbers of humanity, no straight thing was ever made’.

By redrawing the locus of consensus as that of a precise ledger with sound game-theoretical guarantees at its edges, and iron-clad stricture within, rather than a continuously renegotiated knife fight, the level of trust required to engage in mutually beneficial enterprise plummets precipitously.

But what does it plummet to? The trust required is now neatly circumscribed to the trust in the information delivered unto our new Leviathan. There is fortunately a market for this trust, a pool of agents who are willing to stake their reputation and collateral on any piece of digitisable information on which it is possible to come to consensus. The truth is a most excellent Schelling point, and one which well-incentivised agents can reliably settle on.

Do not underestimate the power and the generality of this arrangement in its maturity, nor the amount of human and economic potential that this will unlock.

Welcome to the trust market.

>>13397663
btw yes it’s me the guy who makes the sephirot memes, this is not a pasta, wrote this just now

see you on the mf other side

Anyone with expert level knowledge based in the EU or the U.S. are more than welcome to apply the job my friend and I are offering to /biz/
>>13397657

>>13397702
Expert-level knowledge on Chainlink and the associated LINK token.*****

I'm convinced link is a gen z coin as in it will require not only all the corporate boomers and gen x to die off, but also the tree hugging millennials for people to finally wake up to its magnificence

>>13397669
Insider here, chainlink related.

In the manufacturing industry, there's something called AQL (Acceptable Quality Limit), which tells you how many samples from a batch you have to take and how many can be defective before you reject the whole batch for quality reasons.

We have different AQL's for different industries, the most stringent being the medical, and the aerospace industries. However, we have hundreds of levels for different industries (furniture, automotive, clothing, electronics, etc.).

The gist of it, is that you have to provide proof of the sampling process for the corresponding buyers of your product. Chainlink network is pretty simple. Companies' buyers will be the next companies down the line, banks' buyers will be fintech startups, dapps' buyers will be the customers directly.

What does AQL's have to do with Chainlink? Depending on the needs of the company, you'll be able to take a bigger sample (more nodes = more expensive, used for banking, identify confirmation for dapps, medical records, etc), or a smaller one (simple dapps = cheaper). Banking corporations are about to push hard for technical legislation regarding the amount of decentralization that a fintech company has to provide, for them to be able to use the bank's infrastructure (quantity of nodes, monetary rewards, uptime, etc.).

Banks are hoarding LINKs right now. Expect a huge announcement December 2019, yes 2019 (not 2018). For now, bulls sleep.

t. Bullish pasta maker here, had written this before. Have written a lot of the bullish pastas (20k, etc)

See you soon bros...

>>13397702
i share similar stack and issue with technical proficiency. i wouldnt trust random bizlets.


hold your stack until it becomes more clear or better services sprout

>>13394163

Seriously anon biz doesn't deserve it, please stop posting sense and come back into stealth mode

>>13394625

Don't give this guy shit, he expects the rest of us to spend months researching so he can be spoon-fed

Based thread. Sorry we're stealth now and this essentially killed the board for decent convo