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/biz/ - Business & Finance

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16016493 No.16016493 [Reply] [Original]

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?

>> No.16016518

>advertising 4chan to normalfags

>> No.16016541

Yet adoption is 0, zero, none, nada.

>> No.16016562
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16016562

>"Is 1000$ really possibly in say the next 3-4-5 years?"

from what you said yes it is. what are you getting at. explain it to me as you would a child

>> No.16016573

>>16016493
Well said

>> No.16016585

>>16016541
Exactly, nada adoption, zero, null.

>> No.16016604

>>16016562
OP is being facetious

>> No.16016614

All things you say is great and all but

It's literally dumping right now

>> No.16016705

>>16016493
ive been a linkie since 13 cents but i can promise you it will never be $1000

the absolute most would probably be like 15 or 20 bucks in the next 3 years

>> No.16016779

Well I for one am planning on using it to settle all my million dollar contracts

>> No.16016830

>>16016493

How many linkies do you need to be a node operator?

>> No.16016859

>>16016830
The more the better I suppose, so those linkies can be staked against each job. More tokens more jobs or higher value jobs.

>> No.16016881

>>16016705
no you have not and no 15 or 20 is not the top, you think XRP will have held a higher mcap than link ever will? no way josé

>> No.16016924

>>16016881
yes, i have, and yes i do

>> No.16017155

Can you expound on monetizing APIs using LINK?

>> No.16017187

>>16016493
>tokenomics
People who fall for this concept don't understand economics.