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/biz/ - Business & Finance


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20256489 No.20256489 [Reply] [Original]

Imagine you are a defi protocol using the Chainlink reference data. Currently you're probably only paying 5% of the real costs, with chainlink incentive wallet covering for most of it.

The current model is satisfying enough for your end security, and staked collateral wasn't designed for your type of high volume but low value usage. But you're the only users.

The Chainlink team however insists to introduce the feature, and since customers aren't willing to pay extra for what is essentially an extra feature they do not need, they decide to cover the expenses themselves once again through the incentive wallet.

Staked collateral was designed for low volume but high value smart contracts for the enterprise and traditional finance industries, for which there is no demand and interest. Similarly, the service agreements have seen zero usage in one year. There is no direct customer usage, only indirect through the reference model of shared expenses, what you could call the public good model.

The public good model being their only used oracles as of now, now ask yourself how would staking work in this scenario?

The average node call price is 0.16 LINK. 1 dollar per node per call. Now let's be optimistic and say each node is covering 100 jobs, which is still far from the case. The total value required to be staked in each node would be 100 dollars at best. Right now it's more like 10 jobs per node so it would be 10 dollars. This is the current real value of the chainlink network. 10 dollars! It's way over valued at 2 billions. This is pretty basic maths and cannot be refuted.

And you delusional cultists think everyone will be able to stake 2 billions usd worth of tokens to generate 5-10% returns. To cover 10 dollars worth of calls! And who's gonna pay for it?

Releasing the staking mechanism would actually be disastrous for the link price, as the market would quickly remark its completely pointless and no one wants to use it.

>> No.20256522

didnt read not selling

>> No.20256554

usually I dr;ns these but you actually bring up some good points. think I might sell and rebuy at 0.003 cents where the marketcap is more realistic.

>> No.20256589

You spent a lot more time writing this than I did not reading it.

>> No.20256612

Your lack of understanding of chainlink's use in the current market is embarrassing. You have embarrassed yourself in the public space.

>> No.20256658

>>20256612
Please refute it. You can't just drive past and shout "you suck" out the window at this man and expect to be taken seriously. Refute it.

>> No.20256660

The conference yesterday revealed to the world the fat Russian that runs this scam. Price has already tanked 10%. Once it breaks through the $5 resistance the panic will begin and small holders and speculators will begin to offload, with the whales already long gone. Once it shoots through the $2.5 mark, unabated FEAR will ripe through all LINKies. With all those who dumped their current accounts into this scam twitching at their arsehole continuously while refreshing binance. The $0.50 mark will be met, the largest panic in history will ensue. The final stinky Nodes will begin to go offline, and wagecuckers with their engineering salaries loaded up in LINK will be left with it stuck in their wallet, unable to move it to binance to salvage some self respect. The price WILL tank at this point to sub $0.5, and most probably sub ICO levels. From that day forward the stinky Linkie wagecucking engineering nerds who bought this coin thinking it had fundamentals will go back to their jobs, with no money in their current accounts, to be made redundant by the next wave of pajeets arriving to undercut their wages. Stinky Linkies will hold bags FOREVER, with no job, no money, and no crypto. I warned you LINKies. There’s still time to get out. Sell NOW. Don’t be stinky, don’t be a LINKie.

>> No.20256673

>>20256658
You suck.

>> No.20256765

>>20256658
>Please refute it
pretty much everything he said starting from line 2 was wrong. >>20256673 also this anon is correct and has the best refutation.

>> No.20256791

>>20256489
Dude I ain’t reading all this garbage

>> No.20256794
File: 337 KB, 925x973, 1539126409733.png [View same] [iqdb] [saucenao] [google]
20256794

>>20256660
"KIKE NIGGER JEWS AGAIN!" Sergey roared stomping into his office decorated to look suspiciously like the Cayman Islands.
"What's the problem this time?" inquired Adelyn looking up from her wet dictionary with a jaded glance.
Rory and Thomas stood over in the corner by the coffee machine. Rory shrugged his shoulders, Thomas rolled his eyes and mouthed "not again" to Rory. Rory, not wanting to get involved in yet another morning 'incident', thought of his wife's son and all they had built together.
"Well..." Sergey began before staring into space for a solid 42 seconds. The others had grown accustomed to this inevitable delay and waited patiently.
"The media, in all their wisdom, cannot see the value of smart contracts; but flippantly share BLM bullcrap". “It’s like a torrent of shit published minute by minute hour by hour!” Rory and Thomas kept their poker faces while Adelyn blew a big bubble of blue HubbaBubba, seemingly immune to the rhetoric, possibly because she was an Asian woman on loan from the Chinese state department.
"And, what's worst," Sergey continued jumping up and down, his fat violently oozing, his chubby arms flailing wide around, "that Microsoft dude is coming today and I'm just not in the mood to talk about "how much I care about BLM"” Sergey fingered the air overemphasizing the quotes and the problem.
"Aww just focus on your oracles sweetie" said Adelyn cooing, "that's what he's come for. Try and stay focused!"
"yeah focused and 1keoy" thought Sergey. Out loud he said with a wink "You're right my little spelling bee, everyone come over here for a group huddle"
Rory and Thomas looked over at each other and sighed in unison and Adelyn complied with a ‘white people walking past you grimace’ expression on her face.
Each put their hands into the center, "One! Two! Three! We Just Win!" they shouted together smiling the Smart Contract mandated smile.

>> No.20256817

>>20256765
>pretty much everything he said starting from line 2 was wrong.
I'm one of these dumb fucks who just went all in because of the memes. OP's post is the only fud I've read in a year that gave me cause for concern. I'm just going to do what everyone else is doing and pretend I never read it and that I'm not selling.

>> No.20256828

>the absolute state of linkers

you invest thouands of dollars into an asset but you're not taking 2 min of your time to read someones criticizm?
If he's wrong prove him wrong, if you can't then why are you in this asset?

If someone wants to tell why Tele2 which I have 3000 dollars invested into is a shit company then I will gladly listen because it might save me 3000 dollars.

>> No.20256840

>>20256489
Good fud but needs to be snappier to scare people

>> No.20256855

>>20256817
>OP's post is the only fud I've read in a year that gave me cause for concern
oh you're genuinely a retard... Ok, I'll spoonfeed you, just look at the current value locked in DeFi, look at the chart for value locked in defi as well, this is only one use of the network. Like I said pretty much everything is wrong and easily refutable.

>> No.20256871

>>20256794
Top kek

>> No.20256894
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20256894

>>20256828
Estonian?

>> No.20256948

Bunch of 4channers tried to force it as /ourcoin/, during the presale ico phase of chainlink there was a minimum requirement of 300eth to enter the presale. Bunch of anons pooled up together and shared presale links to fill them with their eth.

Coin continued to get shilled and pumped up and hyped for the sibios event that link was attended, whole event turned out to be a flop chainlink had a presentation in a room of like 18 people next to the public toilets, literally no news or partnership came from the event and the coin dumped back to below ico prices and created 1000's of bagholder anons.

Now during this alt bull run lots of anons and took advantage of this and shilling this coin to all the new money and newfags that joined in december and don't know this story.

The coin is HEAVILY manipulated and the supply is dried up from huge whales who accumulated below ICO price to create a artificially lower supply (a lot like REQ) and these people have so much room to dump on all of you faggots to still be in profit when the time comes.

In regards to actual project that chainlink aiming to achieve it's nothing more than a basic json parser for smart contracts, would take like a day to add to ethereum by itself.. literally making links whole concept pointless and definitely no need for a token. Would take a lot longer to get it working with bitcoin but the bitcoin core devs would be able to work out the solution a lot quicker than chainlink will, think that's something worth noting that literally nothing is completed and you're literally just buying a whitepaper, they have only 2 developers and they don't communicate at all with no proven background on either, in fact sergey was involved in a project before chainlink called NxT that he since been abandoned until it was took over by a new developer team

>> No.20256975

>>20256489
>pajeet grammar
>plebbit spacing
>caring this much about a coin you supposedly don't invest in
Thanks just sold 700k

>> No.20256988
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20256988

>>20256489
D@mn !
I'll market sell all my Link !
Thanks bro !

>> No.20257069

I saw Sergey at a grocery store in San Francisco yesterday. He was in the candy aisle driving around on a motorized shopping cart and I told him how cool it was to meet him in person, but I didn’t want to be a douche and bother him and ask him for photos or anything. He said, “Oh, like you’re doing now?” I was taken aback, and all I could say was “Huh?” but he kept cutting me off and going “huh? huh? huh?” and closing his hand shut in front of my face. I walked away and continued with my shopping, and I heard him chuckle as I walked off. When I came to pay for my stuff up front I saw him trying to ride out the doors with like fifteen Milky Ways in his hands without paying. The girl at the counter was very nice about it and professional, and was like “Sir, you need to pay for those first.” At first he kept pretending to be tired and not hear her, but eventually he turned back around and after nearly running over a small child without apologizing, brought them to the counter. When she took one of the bars and started scanning it multiple times, he stopped her and told her to scan them each individually “to prevent any electrical inference,” and then turned around and winked at me. After she scanned each bar and put them in a bag and started to say the price, he kept interrupting her by yawning really loudly. Interesting man, but do we really want to be investing our money into this guy?

>> No.20257696
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20257696

>>20256817
You seem wise and level headed. Even one of the lead devs recently pointed out on the github that there was no real adoption. It's not FUD, it's just stating facts. But the brainwashed and the moronic will keep spouting drns. The simply refuse to confront reality. The wake up call is going to be really painful.