/biz/ - Business & Finance

[Anonymous No.16008676]

Wait why is Link even needed?

[Anonymous No.16008684]

take tha poo poo to the pee pee

[Anonymous No.16008686]

>>16008676
It isn't.

[Anonymous No.16008695]

>>16008676
it isn't

it's just a russian 2-men university dropout startup, sergays former project was NXT which he abandoned after ATH hit back in january 2018

[Anonymous No.16008719]

>>16008676
what's really going to bake your noodle later on is, why is crypto needed?

[Anonymous No.16008720]

>>16008676
Link is a scam
https://cryptobriefing.com/chainlink-google-partnership-link-price/

[Anonymous No.16008730]

>>16008676
Will be used as collateral for when staking goes live. This will drive up the price and demand of the Chainlink tokens.

>>16008686
>>16008695
Cope more salty ass pajeets.

[Anonymous No.16008737]

>>16008719
to digitally protect the common man's wealth from big bank fuckery?

[Anonymous No.16008767]

>>16008676
It isn't. Eth 2.0 can and will replace link.
https://blog.ethereum.org/2019/10/23/eth2-quick-update/

[Anonymous No.16008783]

Merkle proofs and light chains can do all of it. Can't believe ari jews jewed us boys

[Anonymous No.16008786]

>>16008676
its honestly just a bunch of buzzwords trying to fix a nonexistent problem. its all marketing pile that with a coinbase listing and "partnerships" and you get a very impressive pump.

[Anonymous No.16008923]

>>16008737
You don't need that goyim

[Anonymous No.16008984]

>>16008676
That's like asking why my peepee is hard. It just is.

[Anonymous No.16008998]

>>16008686
Cleverly disguised bullish thought posted as FUD

The internet wasn't needed either

[Anonymous No.16009014]

>>16008998
that's why AOL stock is worth BILLIONS

[Anonymous No.16009015]

>>16008676

It absolutely isn't.

Proof: Not a single dollar of services was sold by Chainlink to anyone.

[Anonymous No.16009033]

>>16008676
you had two years to know

[Anonymous No.16009060]

Holy hell the smell

[Anonymous No.16009100]

>>16009015
even if it was needed they could have used in erc20 for collateral instead of LINK but they wanted a cash grab

[Anonymous No.16009112]

>>16008676
>the moment you realize that PoW is actually the solution to being an oracle
BSV.

[Anonymous No.16009131]

It's the most pumpable vaporware project on the market. It's the new TRON.

It's literally "Ideas Guy": The Coin. No substance, but a really cool idea

[Anonymous No.16009136]

link is an infinite pump and dump scheme largely facilitated by this shit board. It's real use is negligible when you have BTC, and eth already.

[Anonymous No.16009148]

>>16008676
getting nervous, nolinker?
Tick tock... better hurry up and find out

[Anonymous No.16009159]

>>16008719
>average linktard education

[Anonymous No.16009160]

>>16008676
a network of decentralized oracles ensures speed, accuracy, and security of transactions that require real-time data (e.g. any sale, delivery, or securities transaction) while backing the value of those transactions with collateral in the form of the LINK token. This will digitize and streamline the inefficient, byzantine financial sector and vastly increase the speed of business and trading, especially when combined with automation

[Anonymous No.16009170]

>>16008676
It's not. Merkel proofs make LINK obsolete. Check the white paper.

[Anonymous No.16009183]

This is the shortest amount of time I have spent on /biz/. This is the very first thread I saw. I made this thread and all the garbage posts in it, and now I'm going to close the tab.

[Anonymous No.16009230]

>>16008676
It’s not, there’s another token that will be used as collateral, LINK-S. When staking is released you’ll be able to swap LINK tokens at a non-1:1 rate for them, and the vast majority will already be distributed to large corporations. All anons tokens will be diluted about 100x.

[Anonymous No.16009233]

>>16009183
Take your pills

[Anonymous No.16009243]

>>16009160
I agree with all of this, but they're really going to accomplish secure, decentralized oracles capable of huge USD amount transactions with a team of 10 dudes? How far along is this?

[Anonymous No.16009283]

>>16009160
Imagine believing this

[Anonymous No.16009309]

>>16008719
That definitely baked my noodle. Really makes you think

[Anonymous No.16009385]

>>16009230
Proof?

[Anonymous No.16009398]

guys should i shave my beard?

[Anonymous No.16009445]

>>16008695

This. It has a non-technical founder who is based out of a frankly shady&suspicious country not known for honest commerce these days.

[Anonymous No.16009464]

36k OOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO

[Anonymous No.16009474]

The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

So....

Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that.

There is infinite amount of collateral available because the token price can rise to meet it.

Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.
>Is 1000$ really possibly in say the next 3-4-5 years?

[Anonymous No.16009518]

>>16009385
lmao newfag. Link-s was announced over a year ago.

[Anonymous No.16009549]

>>16009474
1. I can code a /contract/ that only executes when objects a and b are both satisfied, after which a transaction is executed in a different system. This is really simple.

2. Given the uselessness demonstrative above, Any amount of USD can be used as collateral value. Which one is objectively less risky as collateral?

3. Consumers don't care about decentralization. Companies don't care about decentralization. It's just LINKmarines, drug dealers and crypto millionaires that pretend to care.

[Anonymous No.16009563]

>>16009549
cope and had 2 years pilled

[Anonymous No.16009687]

>>16009549
>I can code a /contract/ that only executes when objects a and b are both satisfied,
And I should trust you and the API providing confirmation of a and b why? Chainlink provides a trustless network precisely because it’s decentralized, the more nodes involved in the transaction the more secure the result

> Consumers don't care about decentralization. Companies don't care about decentralization

They’ll care when their contracts fail and they lose a ton of money because the centralized oracle they paid an exorbitant fee to use had an outage, got hacked, gave a manipulated result, or was just outright wrong