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/biz/ - Business & Finance

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15302377 No.15302377 [Reply] [Original]

someone explain chainlink to me pls

>> No.15302386

Think the internet

>> No.15302388

All you need to know is that it can be coded in a week

>> No.15302389

>>15302377
Look up Ponzi Scheme on youtube

>> No.15302397

>>15302377
Insurance against liars and bad actors in an environment where automated digital contracts need reliable information

Basically its going to replace a lot of jobs and middlemen. Buy what you can and hold till your fingers bleed.

>> No.15302402
File: 665 KB, 1567x1253, 1565314338252.jpg [View same] [iqdb] [saucenao] [google]
15302402

This pic should explain it nicely

>> No.15302408

>>15302377
It a token that go to 1k eoy no time to explain just buy

>> No.15302411

>>15302386
i am retarded

>> No.15302420

>>15302397
where do i buy? i am new to this and quite retarded

>> No.15302436

>>15302420
Coinbase, use cb pro to avoid getting jewed out of your money, it'll take 5 days for your funds to become available

Tell no one

>> No.15302451

>>15302436
you can trust me internet investor man

>> No.15302472

>>15302451
Godspeed

>> No.15302492

It's basically just a JSON parser that puts data on the blockchain so that you can make things like an alarm clock. It's a neat little toy, but I doubt it's going anywhere.

>> No.15302495

You will make it

>> No.15302501

>>15302495
thank you for believing in me anon

>> No.15302511

>>15302397
Heres something ive always wondered.
If chainlink isnt blockchain, what would you call it? Some sort of decentralized oracle ecosystem? Also why isnt it considered blockchain

>> No.15302528

>>15302377
>>15302411
>>15302420
>>15302451
>>15302501
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.15302541

>>15302528
so is it basically a ponzi scheme, is it any worth investing at all? The people that have invested seem very passionate about it

>> No.15302559

>>15302377
It's basically a JSON parser.

>> No.15302562

>>15302541
It's real. Invest what you can. A lot of us here been in a while and some FUD for fun. It's your best chance in crypto right now. 100%. Start by getting coinbase app on your phone and then follow the instructions until you get to the buy link button. Don't fuck this up Anon. Future you will be mad if you do.

>> No.15302578

>>15302528
this OP, sums it up

>> No.15302592

>>15302377
it's around 100 lines of code with an erc20 token

>> No.15302593

>>15302562
thank you anon for the insight.

>> No.15302609

>>15302541
It's not really a Ponzi scheme. In fact, I don't think it's a scam in general. It's just a very simple project that could be easily replicated on Ethereum if it was actually needed.

>> No.15302643

>>15302541
You're genuinely retarded if you believe that faggot copypasta fud is true

>> No.15302651

>>15302643
this is like my 1st or 2nd time on this board, i have no fucking clue what you guys do on here.

>> No.15302656

>>15302643
Nice argument faggot. I understand that you've got heavy bags, but you've got to at least provide reasons why you think your favourite ERC20 token will do better than the rest of them.

>> No.15302669

>>15302511
its an oracle

>> No.15302676

>>15302651
search for FUD on google

>> No.15302683

>>15302562
how much shoud i invest

>> No.15302702

>>15302683
10 bajillion grumpercoins is the only way for a new guy like you

>> No.15302705
File: 781 KB, 1080x1920, Screenshot_20190818-233931.png [View same] [iqdb] [saucenao] [google]
15302705

>>15302593
Just don't fall for the FUD.

t. 15k and glad I held firm for nearly 2 years. Pic related is the url I saved to my home screen at time of buying to check link price.

>> No.15302709

>>15302683
As much as you can bro

>> No.15302741

>>15302709
i cant do much but it will be an honest investment, thanks anon

>> No.15302743
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15302743

>>15302651
smart contracts can't read data so they something called an oracle to give them data

currently, smart contracts use a centralized oracle provider to give them data, but this defeats the purpose of smart contracts (they are supposed to be trustless, decentralized)

chainlink is a decentralized oracle network, where nodes provide API data to smart contracts.

the LINK tokens are used to buy node time and data, and to run a node, you stake LINK tokens (if your node fails, you lose LINK)

LINK will be a major step in actually implementing smart contracts into the economy, thus has garnered them attention from major companies including Google

>> No.15302776

>>15302743
an example of LINK being used would be having a van that transports meat from A to B

the temperature of the van is updated constantly as data onto a network

a LINK node reads that data, and if the node recieves data that the van has warmed for enough time to render the meat contaminated, then it triggers a smart contract where you (the meat buyer), get compensated for the ruined meat

>> No.15302815

>>15302776
damn that shit is dope

>> No.15302839

>>15302776
Tell me anon, why do you need a blockchain for that? Why not just use that API to feed into a regular website?

Either way, that's still a singular data source. There's no industry need for "decentralised oracles" when all of the data comes from a single source.

>> No.15302851

This is probably the best way I can explain it.
Bitcoin is kind of like a tree, right? It has rings and stuff which can't be changed and you can open it up and look at the history
and agree where all the rings are. And ethereum is kind of like the leaves. They're scattered around the branches off of the tree and have veins and shit on them for writing things on. But when you write on one, it copies over to all the other leaves. Which is good because if you look at 1 leaf you'll know that it is legit if it says the same things as the rest of the leaves.
So this is where Chainlink comes in. Chainlink is like a nigger jerking off on to the soil at the base of the tree. His cum is kind of like the external data which your bitcoin tree feeds to the ethereum leaves. So basically feeds the tree with stuff that it needs to give to the leaves which are asking for nutrients and stuff.
Hope this helps.

>> No.15302862

explain why microsoft or something wont just build their own chainlink in 2 days when theres a real use case

>> No.15302892
File: 2.31 MB, 1440x960, LinkRoomscape.png [View same] [iqdb] [saucenao] [google]
15302892

>>15302862
Explain to me why Microsoft doesn't own chicken farms when they sell chicken bagels in the HQ staff canteen.

>> No.15302901

>>15302892
Because they're one of the world's largest software developers, not chicken farmers.

>> No.15302915

>>15302862
Large companies like that perform research to see what types of products will generate a certain profit amount within a given range. It has a profit/use, but to them it's not profitable -enough-.

>> No.15302918

>>15302839
Smart contracts are not reversible, so the more decentralized data is, then the more you can trust it

a blockchain is useful because it stores information, so you can accumulate data; contract history, reputation; it's faster too

you're right though, that this may be a poor example, but for highly valuable contracts then maybe there is a need for multiple data sources and nodes

however, do consider that in the future, you will be able to get your smart contract, and then plug it into a link node fairly easily, so a network like ChainLink is very convenient

>> No.15302956

>>15302915
ok but when it is proven to be profitable? are they just first mover?

>> No.15302999

>>15302918
All of your use cases can be better done with a database, and the ones which can't (like storing value or overseas transfers) don't need decentralised data.

You say that there's "maybe" a use case for Chainlink. Go on, try to think of one. In the meantime, I'll just keep assuming that there's a reason why Ethereum didn't spend the three days that it would take to build a native replacement for Chainlink.

>> No.15303002

>>15302915
It's based on their market research. Depends on who's in charge of all that I guess I'm not sure there's a set standard.

>> No.15303029

>>15302999
>All of your use cases can be better done with a database,

>what is blockchain

>> No.15303064

>>15303029
Blockchain is a decentralised database. It's more secure, but much much slower and more expensive.

Some use cases need it. Shipping meat is not one of those use cases.

>> No.15303130

>>15303064
Wiring money between two countries is faster with blockchain, settling a contract between two countries is also faster with a blockchain

This just sounds like shitty FUD, I hope you have a suicide stack anon

>> No.15303157

>>15302377
Its a candy bar

>> No.15303167

>>15303130
I agree entirely, wiring money between two countries (XRP) and settling contracts (ETH) are much better with blockchain.

Shipping meat is not one of those use cases, and chainlink just isn't needed. The most exciting thing that's been done with chainlink is an alarm clock. It's a fun trick, but it's hardly an industrial breakthrough lmao.

*PPPRRRRRIIIINNNGGGG*

>> No.15303243

>>15302892
Whos that guy hanging off the tire...cant see on my phone

>> No.15303384

>>15302388
checked for jason parser confirmed

>> No.15304310
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15304310

>>15302377
https://imgur.com/a/GnW0DmO - Over 1.4k Chainlink Memes
https://imgur.com/a/HS9hIfr - Connections & Breadcrumbs
https://imgur.com/a/bklfSCi - Positive & Bullish Thoughts