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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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File: 75 KB, 1500x361, 0_mDy_mHvdmBy0Q8Ru.png [View same] [iqdb] [saucenao] [google]
14519747 No.14519747 [Reply] [Original]

Are people actually thinking that LINK will be used as colateral on smart contracts, when they specifically say in their white paper that they plan on making LINK able to tap into other blockchains so it can enable transactions using OTHER coins beside ETH, which is already compatible?
The only people who will get paid in LINKS are the token operators, which brings us to the real problem with this coin. How is LINK supposed to be used to pay token operators (especially if it's a recurrent payment) when it's supposedly going up in value non-stop?

>> No.14519758

>>14519747
18 decimals

>> No.14519763

>what are decimals
>what are oracles determining the price of link in real time

>> No.14519775

Why must you take 10 seconds out of my day with this shit.

>> No.14519778
File: 75 KB, 955x957, 11315151.jpg [View same] [iqdb] [saucenao] [google]
14519778

>>14519747
oh look its this post again

>> No.14519785

>>14519747
idk man i heard eth have this thing call a smart contract

>> No.14519830

Linklets will disregard this as "FUD, you had two years" etc because they hate the truth. Noone answers this question truthfully.

>> No.14519838

>>14519747
looks like you didnt make it past 4th grade im sorry OP

>> No.14519875

>>14519758
So let me get this straight. You think the nodes will be constantly monitoring the price of LINK against the USD so it can ajust their fees that's gonna be charged from the client's wallet?
Sure that's possible. But then why do you even have to stack LINKS? You can just buy 0.000000000000000000001 link and run all the nodes you want.

>> No.14520010

>>14519875
Great, you figured it out. Case closed. Never buy link and get the fuck off /biz/. You can go and tell everyone that you proved Chainlink is worthless. Bye.

>> No.14520043

>>14520010
You can just sell you know?....

>> No.14520128

And by the way, the picture in the OP can be found on the chainlink website. They didn't put those other coins there because they thought they were pretty.

>> No.14520231

Their idea is create a stable coin for node operators and use LINK only as collateral.

>> No.14520344

>>14520231
So they have another coin in mind that's not link?

>> No.14520876

Been here since 2017. Possibly the most FUD posts in one day against link ever. Never change BIZ

>> No.14521117

YOU DONT EVEN NEED TO OWN LINK TO RUN A NODE!

After actually researching this token, it has a real use case, and I would also be looking at how to invest in oracles and nodes not simply the token.

The white paper states the biggest challenge is lack of trusted oracles.

This is why you see these “partnerships” with google API because google is one of the only trusted oracles that exists. This doesn’t mean google is necessarily backing Chainlink in some large way. It’s just means, hey here is how to put our data on a smart contract.

If there are not enough oracles, then Chainlink is redundant. The existing oracles have enough trust that Chainlink might not be needed and there wouldn’t be enough oracles to even compare to each other to execute a trustless contract.

Chainlink as described in the white paper doesn’t single handedly solve the oracle or infrastructure problem.

And finally, there is no valuation model for the token. The inputs and resulting supply and demand aren’t known or predictable. It’s concievable that links could be end up being $0.50 and the nodes operating on extremely slim margins.