/biz/ - Business & Finance

>>29028903
Sorry I don't get it

>>29028903
> AVEAVEAVVAVAAAVRAAGEE EETH PRICE

>>29028903
??? Explain yourself

>>29029918
It's over. Next target: $12.65

>>29028903

Delete this

>>29030011
saavaavage aand checkecked

>>29029918
See 15 Feb:
An average aggregator requires 44.26 ETH to get 108 price feed updates.
An OCR aggregator requires 5.64 ETH to get 119 price feed updates

You get more updates, for way less ETH. Nodes are selling a shitton of link in order to pay gas, now they will save a lot in gas and won't have to sell as much LINK in order to compensate the gas costs.

tl;dr: operating a node is 90% cheaper now. LINK sell pressure will be greatly reduced. Numbah go up

>>29030081
Shut the fuck up nigger. You had 4 years, kys

>>29030186
Based and linkpilled

>>29028903
When will this shit be live?

>>29030207
wait holyshit has it really been 4 years?

>>29028903
nice

>>29028903
200$ when ethereum is busy / 8 $ = 25$ which is still expensive as fuck for a price feed call.
Also this will cut demand for linkies by 8, so we will be the first bluechip to actually dump to 0 in a bullmarket.

>>29030081
this. link will COLLAPSE soon. why? because chink niggers. that's right, the chink niggers.

>>29030336
We already dumped to 0 friend.

>>29028903
you retards think this will benefit the price of link? Think again, this also means less profit for node operators.

>>29030487
>this also means less profit for node operators.
It means MORE profit for node operators.
Lower fees means more use of Chainlink, in turn meaning greater profit for node operators.

OCR means less gas costs, the node fees stay the exact same.

>>29030487
no it means that link can push more data through which leads to more adoption which leads to a higher price

now shoo shoo away payed fudding pajeet

>>29030487

Bullish link news released, the pajeets come out immediately like clockwork. Yes spending less on gas actually reduces profits....

>>29030186
AHHHHHHHHHH

>>29030593
How are the node fees calculated?
Is it a fixed value decided for a contract for a year?

>>29030103
this

>>29030186

>>29031094
The price feed "owner" (it can be a multisig contract) can push the average price of a job request. Normally they calculate it in a way that make nodes profitable enough to cover costs and have some profit margin.

tldr: nodes will require less link to function so the buy pressure will decrease so Link price will plummet. Target: $8 eoy seems like a fair price given these incentives

You sir smell like curry rice with this pajeet fud kys

>>29031901
You don't get it, do you? Chainlink users are NOT buying LINK, the nodes get paid by Chainlink's 350 mm wallet. These are the infamous "500k LINK dumps", they enter in circulation because they are paid to nodes that then dump them in the market to pay for gas.

>>29031094
Supply and demand.

>>29031901
Yeah 800$

>>29030186
>no one will sell at higher prices, not even the aggregators

>>29032082
m8 the mass of newfags since GME don't know

>>29032082
You do realise this is just a temporary solution right? If not I mean what's even the point of discussing price and all, is the goal just for Sergey to dump the dev wallet?

>>29028903
Only 8x? Wtf

>>29030593
Are you kidding. Why would someone pay more for the node when they’re paying way less. I guess if it was subsidiZed by the dumps then maybe yes. Otherwise he’ll no someone will do it way fucking cheaper are you dumb

>>29028903
So, is it live or not?

>>29030186
Nice explanation - thank you.

Stop posting this shit. Let the newfags buy centralized food token rugpulls.
Chainlink cryptocurrency tokens are a known scam.

>>29032677
Maybe in like 3-4 years. Classic link

>>29030186
now imagine a world where blockchain gas fee is low and bandwidth extremely high
Ethereum is actually hindering smart contract development, not their fault but the world could be much better

>>29033019
Link fixes this

>>29028903

So instead of $300 fees it's $40 fees? HAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAH

>>29033019

Link can literally be layer two for anything now. Kek retard

>>29029918
Brings all the benefits of centralized feeds to blockchain.

>>29033295

And node operators have to pay "measly" $80 000 for the simple price of bitcoin in USD A DAY!

BWAHAHAHAHAH IMAGINE SOMEONE USING THIS ABSOLUTE SHIT!!!

>>29029918
Makes running a node much much cheaper, which makes existing nodes more profitable and makes new nodes viable.

>>29031901
This. I'm not sure linkies realise this. Scaling is bearish for link price

when is OCR coming out though?

>>29033430
>which makes existing nodes more profitable and makes new nodes viable.

No it won't. STINK team will just burn through their hundreds of millions of STINK token stack a bit slower. Nobody is actually paying real money for this shit.

LINK is being held back by ETH, change my mind

>>29033019
>Ethereum is actually hindering smart contract development
>shills an EVM compatible blockchain
Fucking brainlet newfags i swear

>pic related could actually occur
I'm gonna fucking coom holy shit

>>29031901
>>29033408

It’ll be more like $4000 a day after ocr retard wtf you talking about? If node operates charge just 0.2 link per call they make $400 a day profit per node on only 60 calls per call. Any application paying for the call will be generating more than that in trading fees or whatever their services charge. Even something like uniswap/AAVE may get millions in volume per hour while only paying around a few thousand dollars in to the nodes in that time. They make way more money by using something like chainlink and they must buy the LINK to pay them on open market or use a smartcontract to concert the payment to LINK on market at time of call.

Stop talking about shit you dont understand child

>>29033408
>>29033634
Literally more the other way around

>>29033408
Do you have eyes you absolute retard?

So what the fuck is going on? Where are those numbers coming from? Is it actually on mainnet? For something that seems like a pretty big fucking deal why won't the fucking retards at Chainlink actually announce THEY'VE ACTUALLY COMPLETED A PIECE OF DEVELOPMENT. THE ONLY FUCKING THING THEY'VE ACTUALLY DONE FOR OVER A YEAR BESIDES FUCKING PRICE FEEDS FUCKING HELL BROS.

we know

All jokes aside it is a catastrophe how badly link has been doing this bull run. I'm not inclined to schizo conspiracies but im praying there's some organised suppression at play.

>>29028903

>>29031901
>profit per token owned goes up
>”AHHHH LETS SELL NOT BUY”
This is your thought process

>>29033926
>only 60 calls per call
Wat?

Also, there's 2 ways to look at it:
>competition between nodes exist and those astronomical margins you're talking about won't exist for long
>competition does not exist, meaning node ops colluded meaning network not centralised

You're clearly out of your depth here, I fucking hate midwits like you who can all only see one step ahead. Don't @ me now

>>29034044
It's probably to pretend the lack of development is just because they're not inclined to announce things, not because they've been doing fuck all.

They tried it before with 'the team doesn't advertise who they're working with' to suggest behind the scenes there were huge players but they weren't inclined to hype it up. Then we saw sergey would begin endlessly promoting every shitty blockchain slots game and oracle start up vaporware.

>>29034312

Im phone posting if your reading comprehension is that bad you cant work it out i dont know what to say.
60 calls per day you fucking retard.

The competition between nodes will always have to have profitability. So again, shut the fuck up child.
Nodes will never collide in a a decentralised fucking network HOW FUCKING THICK ARE YOU

>>29028903
SEE YOU IN KLEROS COURT LINKIE

>>29034467

Profitability != scamming clients

If op costs go down fees have to go down. That is if market incentives are correct, meaning there's competition between nodes, meaning the network is decentralised. You can't have both dumb dumb.

>>29034138
Did you not see how sergey was dumping 1.5m link every week to keep the price at 25? Only recently has it been able to break and go up to 32

>>29034920

Look everyone, hes doing the typical out of their depth and schooled thing where they pretend the current network and implementation of LINK os the final product.

say something useful quickly or shut tue fuck up

>>29035108
I see you can't answer this. Also I was referring to the target implementation, not the Sergey dumping phase. You might be a bit slow, it's okay, you can ask me questions if you want, I'd be happy to help you understand how crypto and more specifically Chainlink works.

>>29035546

Yoi have moved the goalposts every post. Nice try accusing me. I proved your bullshit wrong and then you had to make new bullshit assumptions which anyone remotely familiar with link or blockchain would never say. “Nodes colluding” FUCKING LOL.

And now you are resorting to intentionally confusing and wordy but saying absolutely nothing and trying to reverse the narrative.

This is an anonymous forum you have an opportunity to stop posting and stop embarrassing yourself and nobody would know go ahead and take it

>>29035546
>t.

Are you telling me this shit has been on mainnet for a week and the team hasn’t fucking mentioned it once but tweeted out that retarded luxury watch data on chain?

who the fuck is paying 600-800 bux per price feed update? how is even 60-90 bppf justifiable as a cost? fuck coffee

>>29030653
>can push more data through
>can push the price of uniswap shitcoins through more frequently

Remember now. Chain link is a Bloomberg terminal, nothing more

>>29028903
WHAT
THE
FUCK
IS
O
C
R

LITERALLY NOT ONE YOU AUTISTIC RETARDS HAS EVER ANSWERED THIS! FUUUUUUUUUUUUUU

Good I hold LINK and EGG

>>29035934
They’re still testing on main net

>>29035852
Haha he destroyed you stop being this butthurt about it

Should I sell all my eth and put it into LINK?

>>29028903
idc if this has been written in this thread already

but this is what this means:

nodes don't have to sell LINK because of high gas fees anymore (cut almost 1/10).

lowers selling pressure from nodes
price go up

>>29035852
I did not move any goalpost. From the beginning I said less gas to pay=less fees=less buy pressure. That's all. The node colluding thing is just to show you that it would be the only scenario under which fees would not be adjusted given a decrease in gas fees. You got btfo, it's okay, take the opportunity to learn and grow

>>29036180
Off chain reporting, just google it dummy

>>29036433
but when is it going to be implemented?

>>29035108
>look everyone!

>>29036180
OCR is an acronym for Our Chainlink Retards, it refers to the community at large that supports this scam token and buys dev bags. Maybe sergey will take another steaming dump on them tomorrow.

>>29036642
has to be pretty soon. i would guess this quarter. Sergey's recent interview where he talks about being able to provide 10x the type and amount of data "soon" is in relation to this i think.

>>29036268

>same fagging

>>29036493

Less gas doesnt equal less fees. What are you talking about? They are independent things. Jesus thats 101 shit

>>29037208
Midwit. I'll stop answering now. This post just confirms you're not worth my time

>>29036642
TONIGHT

>>29036258
>testing on main net

>>29028903
>oh look, another chainturd self-hopium thread

>>29037208
Bro, please stop, you're giving marines a bad rep

thanks OP you tried. Too much FUD today

>>29037208
>less gas does not lead to less fees

In the final product:
Call fee + gas fee. Both set individually. Gas fee at network cost. Call fee by node. Decentralised network with game theory at play sets the call fee.

If. AAVE/Celcius/whatever generate only $45,000 an hour in trading fees, and the chainlink calls they use collectively cost $2000 an hour they are generating more profit over not using it as they collect more trading fees an hour due to trust in their system.
They have to buy link to pay the call fee, or the smart contract will auto concert collateral to LINK at market. The network fee is obviously paid in eth or whatever. All paid for by the caller not the node.

The node then pays network costs and keeps the call fee

In the network’s current implementation, the fact that network fees will be down by 90% means less link has to be dumped to subsidise the nodes. The current buy pressure would then result in up movement.

The buy pressure from clients calling wont come till TSIGs and we all know this. Stop being an idiot. Even some DeFi platforms which use link have already purchased a shit load anticipating future costs to pay the nodes.

The buy pressure will not “go down” with reduced costs as you said because the buy pressure not be effected by the act itself as its being subsidised for now. What are you talking about.

>>29032082
fucking fatass betrayer, so sergey dumps 500k linkies and use them to pay for the nodes, but how do those who request data from the node pay for it? with eth? for free?
>t. colonel stack since 2017 with steel hands but haven't even read the wp

Also can some fren make a LAW OF ATTRACTION thread? I can't make threads because jannies banned me from picture posting and someone needs to counter the negativity the paid trannies are spreading.

>>29038114

ATM its basically free data. The network is being subsidised as the white paper laid out.
LINK is basically getting the ecosystem hooked on its data and network and when the time is right they’ll have no choice but to start coughing up.
Not only that but with OCR + Arbitrum, other blockchains can use LINK as. Layer two independent of price feed calls. They will be forced to buy link for this as it wont be subsidised.

today some good sirs asked me

when will you sell the chainlink?

and i replied to them

i am never fucking selling

>>29032082
betrayal... absolute betrayal...

>>29030294
YOU HAD 12 YEARS

>>29038340
You're saying Sergey is trying to get the ecosystem hooked on his free Chainlink Cocaine before charging and exploiting these hopeless addicts? As an ethical investor I have no choice but to sell my Chainlink (tracker: LINK) tokens and I suggest others do the same.

>>29038340
so link is like heroin and sergey is like a dealer giving out free samples so niggers get hooked on it?

>>29038340
>ATM its basically free data.
No, the users are paying Chainlink for the data. See pic.

This is basically a typical contract setup:
>users (e.g. defi project)s pay contract operator (Chainlink)
>contract operator pays node operators
>node operators pay API

It's just that Chainlink is the only contract operator at the moment, because mainnet is still limited.

>>29032561
Holy fuck you are retarded.
Please go back to whatever low iq normie shithole you obviously came from a few days ago.

>>29030186
call me a newfag but i never knew link was built on eth. yikes. incredibly bearish on link.

>>29038636

Basically yes. But it goes further. Sirgay is basically tue big wig. Hes giving free heroin to dealers(nodes) who then get niggers addicted by giving it away for free too, while sirgay gives them some cream for doing so.
Before long the nigger nodes will create an army of addicted crack heads, many of which lend to other addicts. Then sergey will pull the plug and cut off their free source. No other infrastructure will exist and they’ll have no choice but to cough up

>>29033019
>thinks it will be anything but ada to rule the world.
NEVER
GONNA
MAKE
IT

>>29032561
>Why would someone pay more for the node when they’re paying way less.
What in the fuck are you talking about?

>>29040051
Link is blockchain agnostic.
It's live on 9 chains already, and as soon as one of them takes over from ETH as top smart contract platform, Link will migrate in an instant.

>>29038636
>>29040110
absolutely based

>>29040110
isn't that kinda bad?

>>29030487
>lowering cost is bearish
the absolute state of /biz/

>>29028903
When tho

>>29040110
>>29038636
>>29041433

Sergey isn't giving out anything for free.
See >>29038993
All the users of Chainlink data pay for it.

>>29041502
TONIGHT

literally dumping as we speak