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/biz/ - Business & Finance


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30363458 No.30363458 [Reply] [Original]

Nothing ever happens Edition.

>> No.30363630

>>30363458
lol brap

>> No.30363835

we dont need a cg faggot
this is a chainlink board

>> No.30363943

>>30363835
Cope link is dead faggot

>> No.30364344
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30364344

>>30363835
>>30363943
priced out, seethe, cope, etc. no one said you have to post here.

>>30363458
excited for OCR, arbitrum, etc. slightly annoyed with price action but i fall in the schizo camp regarding whale games happening in an arms race to accumulate more.

>> No.30364632

>>30364344
checked. what do you think about the hypothesis that there is no whale suppression and the price action is simply sergey subsidizing node operators who dump to keep their lights on?

>> No.30365394
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30365394

>>30364632
i'm not sure if you were around about a year ago, but one of the smarter post-AB tripfags prophesized this happening to link, and now we are living it. wish i had saved some of those posts.

they talked about how eventually, link would come to a critical period between being subsidized by sergs and being self sufficient, and how a network of this size is only sustainable for so long without adoption. really seems like a dilemma, as you need to incentivize node operators to keep the lights on, but we also need to start seeing adoption pick up before sergs runs out of node money.

>> No.30365453

bump

>> No.30365582

>>30365394
i agree, i wasnt around for the tripfag shit but i was there before. i had other stuff to do last year. this twighlight zone is indeed critical, i think staking is more important than sergey actually thinks. but the tasks on pivotal havent changed since 2019 and at smartcon ari sounded like they are literally in brainstorming phase when it comes to staking if it even makes it on the agenda

>> No.30365874
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30365874

>>30363458
we're gonna make it lads, get your ducks in a row

>> No.30366029
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30366029

>>30365582
the tripfags / chainlink prophets just show up on their own accord, but it's always what keeps me coming back to this shithole.

i agree with you that staking is important, but i'm not sure it's the panacea for link's current growing pains. there's lots of talk about feature creep and team bloat, but i believe in sergs and think he wouldn't let his team size bloat if there wasn't some secured value on the horizon. but... each hire means the link reserve dumps quicker. bottom line for me is i need to see some real, open network adoption (amazon, google, oracle, ANYONE) using nodes and paying in to the network before i really feel at rest with this critical point.

on another note, never seen sergs so brazen in trashing centralized finance on one of his more recent talks, which is extremely bullish to me.

>> No.30366123

It’s much more likely that we see below $20 than seeing above $35. Link sucks ass. BNT is showing groups what a solid staking plan looks like and how to really do it. BNT outpace link very soon which is crazy

>> No.30366292

>>30366029
Rack city bitch rack rack city bitch, $1000 EOY on your toddies bitch!

>> No.30367126

>>30365582
staking is literally the only thing that matters at this point. the FED could announce they are running a chainlink node tomorrow and the price would dump because serg needs to subsidize all the unpaid nodes. arbitrum could roll out tomorrow and hed need still need to subsidize. even if ocr lowers the amount of subsidization needed, he'll still dump if only for more runway and i cant blame him. further, his dumps at this point seem like any sensible DCA, hes selling every week regardless of price and has been increasing the amount as the price generally is higher in USD, and of course, its all in the whitepaper, he literally says hes gonna dump the dev wallets for growth; what im getting at here is that he pretty much has to keep dumping at the same accelerating rate and hed be a fool not to stick to this sensible DCA dumps. staking and the fundamental supply and demand dynamic that it brings is literally the only thing that will effect the price in any meaningful way.

>> No.30367179

Newfag here, is link still worth to buy even after reaching over 20?

>> No.30367189

>>30367179
absolutely

>> No.30367226
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30367226

>>30363458
>general

>> No.30367444

>>30365394
Dude, you guys are trippin, look on chainlink market rn. "AG' and "OCR" nodes are killing it in efficiency. "FL" have ~200$ in fee's per transaction, while basically breaking even. While on the other hand, "OCR" and "AG" have half the fee's and double the profit.
Everything is fine, we are just transitioning now

>> No.30368465
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30368465

>>30367126
staking is node operator collateral. it incentivizes them to be right in their answers. maybe i'm not understanding: how is staking going to fix serg's need to market dump link every week to subsidize the network / keep the lights on? someone still needs to pay the nodes. doesn't seem like staking just brings enterprise adoption. again, please prove me wrong.

i'm not talking about stinker price, i'm talking about the need for outside revenue that is brought in with institutional adoption in this critical period between "young network" and "established, self-sustaining network"

>> No.30368603

>>30367444
checked bigly and based take. it is comforting to see rewards higher than fees.

>> No.30369044

>>30368465
it's late here but let me try to verbalize my thoughts on this. what the anon is probably trying to say is that the nodes have to become self-sustaining. that means they have to make a profit, that means someone has to pay them for their service. that means that there need to be people who are willing to pay LINK in order to get the data via the chainlink oracle network. and that means that they have to 1) trust the nodes to do the right thing and 2) to have a profitable use case themselves. now 2) is basically given now that defi has taken off, sergey played a huge part in that personally. now let's get to 1). do the customers (like defi platforms) have a reason to trust the node operators to do the right thing? kinda but probably not enough. right now the nodes are handpicked and they are running on brand name reputation being affiliated with chainlink and such, the thing that sergey actually criticizes and despises. but for independent node operators to be trustworthy there has to be a penalty system, staking. but staking does not exist, so the trust doesnt exist, so sergey has to offer the network's value for free by subsidizing. this will only stop once real trust exists in the oracle network, thats only possible through staking or kyc nodes but that's kinda against the crypto spirit. also staking would be a counterforce to the inflation produced by the team dumps because nodes would be incentivized to accumulate more LINK to stake more LINK and therefore be able to service more contracts. staking is indeed the key to all of this but it seems like sergey is caught up in all the adoption hype. i really hope he has good accounting and a long term plan that's sustainable. staking is the only way the network can be selfsustaining, if it isn't before the team wallets are empty, it's over.

>> No.30369113

>>30363835
this. every coin with a general is for total faggots. actually maybe link does need one then

>> No.30369177

>>30363458
lol this is actually my gf.

>> No.30369191
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30369191

Yes Chainlink will make you rich but what's the price LINKies will have to pay for siding with Moloch and Globohomo?

>> No.30369194

chainlink got big before we had generals everywhere like a bunch of faggots

>> No.30369277

>>30369194
>>30369113
i know guys, there just wasn't a good thread on link and i didn't know what to post but wanted to discuss some shit, chill. it kinda worked tho

>> No.30369425
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30369425

30366123
30369113
priced out, we all bought in sub $1, dilate, (you), etc.

>>30369044
thanks for the explanation. wow, i thought we were to the point where the hand picked nodes WERE already being penalized for wrong answers.

>> No.30369608

>>30369191
I don't care about being the new jew, I just want to be rich.

>> No.30369697

>>30369425
no, at least not in a smart contract way. they get penalized by being excluded but that's just politics and has nothing to do with a decentralized network. until the nodes don't have to put up any collateral (deposit) that they can lose if they fail to deliver the data correctly, there's no game theory that forces the nodes to be a good actor. faggots like chainlink.god then say implicit staking but that's so fucking lazy and irrelevant. node operators dont have any reason to hold the link after they received it.

>> No.30369807
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30369807

>>30363458
the linkpool shares one hurts now, frens

>> No.30369971

>>30368465
>how is staking going to fix serg's need to market dump link every week to subsidize the network / keep the lights on?
its not going to stop him, he'll dump until the wallets are empty. the way i understand it right now is that most feeds are free to use right now and theres only a few paying customers, aave being one of them. right now hes subsidizing those nodes for the profit they make and the high gas costs they have. hes also selling to secure revenue for the company. even if staking is out he'll continue to sell. what i'm saying is that the buy pressure from nodes for more collateral once staking rolls out should in theory completely dwarf the sell pressure from his weekly dumps but now that i'm writing it out i think staking is just part of it....see below
>doesn't seem like staking just brings enterprise adoption
i should have wrote, staking + moving from this partial free to use model to a paid model.
theres enough adoption of link oracle served smart contracts right now that the demand for more collateral would destroy the sell pressure of sergs dumps but staking has to be live for that. and i think that institutional adoption cannot happen until the network changes to a paid model. imagine if tradfi started using sc and data from link tomorrow but most feeds were still free. thats just more subsidization needed to keep it all going.

>> No.30370042

>>30369807
It's weird, why has there been no public mention except the announcement that Mat is leaving the team?

>> No.30370081

>>30369971
inb4 samefagging, im on mobile

>> No.30370189

>>30370042
I think Mats fuckup exposed the DEX as Centralized so now they prefer to just stay quiet on the whole incident and hope the SEC doesn't find out

>> No.30370440

>>30369971
i see, makes a ton of sense. damn, i feel out of the loop for not knowing we're not already to the paid model at this point. thanks for all of the clarification. no wonder we're still in the "young network" phase.

however, i'd say the counterargument is chainlink / sergs only has one shot to roll this out. if it fucks up, it's game over for chainlink.

>> No.30370517

>>30369044
checked, yeah u summed my thoughts up in a more articulate way more or less.
youre last point here though
>i really hope he has good accounting and a long term plan that's sustainable. staking is the only way the network can be selfsustaining, if it isn't before the team wallets are empty, it's over.
im not too worried about that but the same thought had crossed my mind, that he might go insolvent before the network is self sustaining. i cant remember but i did the math and i think it would take years and years for this to happen even at an accelerating rate of weekly dumps in terms of volume.

>> No.30370558

>>30363458
delete this
we dont need a general
you think we're some kind of shitcoin? theres no eth general, no btc general, and no link general faggot

>> No.30370659

>>30367126
>>30369044
DeFi contracts using price feeds are getting along just fine without collateral. The use cases where large upfront collateral is desired and warranted by the contract owner is in huge insurance payouts or extremely large event based transactions, aside from the game theoretic contribution to incentivize good behavior by non-KYC nodes. The only potential benefit from staking now is them opening up the chainlink marketplace to be fully decentralized (non-KYC) - that’s it. APY for collateral, which is not in percent but simply the sum of all profits made from fulfilling service agreements for a year (based on whatever class of contract use-case you’re providing data for, e.g. DeFi, vs insurance, vs gambling, every single one will have different profit margins), is whatever your collateral is worth in security TO THE CONTRACT OWNER, which means that everyone using chainlink now would need to consciously opt to pay more for this extra level of security. What is that worth? Probably lower than most DeFi yields for most existing use cases, but it’s impossible to predict. If Sergei inflated payouts and incentivizes the network using staking rewards from the 350 mil, that could entail even more sell pressure. What matters most right now for chainlink is getting an L2 solution up and running and making sure everyone properly understands that it is chainlink that enables it (Arbitrum). “Chainlink saves Ethereum” should be plastered everywhere by their marketing team to finally break into mainstream awareness, alongside a realization of how vastly more important it is *right now* than all of the literallly useless vaporware above it. L2 relieves sell pressure, and price action depends on normie and institutional attention during a bull cycle, that’s it. Staking is irrelevant, and again only important for maturing the network in the form of the full launch of the chainlink market.

>> No.30370688

>>30370440
>counter argument
eh im not worried, seems like he knows what hes doing and can keep the lights on for a long long time and i dont see any competitor that even comes close. do yourself a favor and dont get fudded out of your bag before staking and adoption happens. i have absolutely no idea how long that will take but im still unbelievably comfy.

>> No.30370802
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30370802

>>30370558
the grownups are talking, please return to your shitcoin thread if you don't like it

>>30370517
>insolvent before the network is self sustaining
this is what has me just a little worried with all these new hires. those hires cost link. never buying the link FUD, but damn i'm getting antsy for some good news / arb release / staking info. the molasses pace link is moving at is just a little annoying, suppose that's always been their style.

>> No.30371216

>>30370688
>seems like he knows what hes doing and can keep the lights on for a long long time
always what keeps me strong at the end of the day. stay strong brother.

>>30370659
based take, thank you for sharing. any clue as to why arb is taking so long to roll out? team making sure it is absolutely bullet proof before rolling out?

>> No.30371276

>>30371216
Re: arb
It’s that and the patent issue which is resolved. I really think it’s gonna drop later this month.

>> No.30371324

>>30370558
>>30370802
Also agree with this, there’s no need for a Chainlink general, this would without exaggeration kill Chainlink’s presence on the board and OP is likely trying to accomplish just that. Our Chainlink threads are organic and multiple, go fuck yourself

>> No.30372382
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30372382

My mom is kicking me out

She wants 500$ a month in rent and I have 10,000 LINK and negative 220$ in my checking account. I showed the dumb bitch where Link's price is right now and she knew where it was before. She's at her wits end with me and I told her to just give it 3 more months, but she isnt having it. She took away my XBOX too and I'm in South Dakota where there is nothing else to do but play Halo 3. Shes telling me to go work in an oil field but I dont want to be killed when we are so close to the singularity. Any South Dakota LinkMarines I can stay with for the summer? I'll give you 50 link. Or should I just hit the fat bitch over the head with a frying pan?

>> No.30372477
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>> No.30372529

>>30372477
would that smell good or bad?

>> No.30372641

>>30370659
Staking provides the trust of decentralization. I agree Arbitrum is of primary importance, but if they don't launch staking this year, it is going to start looking bad. Like they can't deliver on the promise of decentralization.

>> No.30372990

>>30372529
good
>>30372641
I think we’ll see it this year

>> No.30373374

>>30370659
>The use cases where large upfront collateral is desired and warranted by the contract owner is in huge insurance payouts or extremely large event based transactions
i dont think thats right. even with market being as small as it currently is, there would still be a need for collateral since no one in their right mind would use a decentralized chainlink if there was no punishment mechanism.
>DeFi contracts using price feeds are getting along just fine without collateral.
i think this is only true because right now its not decentralized and why i agree with what you say down here
>If Sergei inflated payouts and incentivizes the network using staking rewards from the 350 mil, that could entail even more sell pressure.
however thats why staking and actual decentralization of the network is so critical, to remove the need for direct subsidy to the nodes.
>APY for collateral, which is not in percent but simply the sum of all profits made from fulfilling service agreements for a year (based on whatever class of contract use-case you’re providing data for, e.g. DeFi, vs insurance, vs gambling, every single one will have different profit margins), is whatever your collateral is worth in security TO THE CONTRACT OWNER, which means that everyone using chainlink now would need to consciously opt to pay more for this extra level of security. What is that worth? Probably lower than most DeFi yields for most existing use cases, but it’s impossible to predict.
impossible to predict yes but you can reasonably assume that the more paying customers these nodes serve, the more profit the nodes make; defi yields vs the profits a node operator would make is apples to oranges.
1/2

>> No.30373425

>>30372529
it would probably smell like a wet onions bean

>> No.30373870

>>30373374
>no one in their right mind would use a decentralized chainlink if there was no punishment mechanism
Utterly retarded and false given the fact that everyone RIGHT NOW is using Chainlink or is stubbornly working with a centralized oracle, even after burning 100 million dollars of user funds like Compound and not doing anything about it. This only helps, again, with respect to very large institutional use in situations where the transaction is high risk (very large, or dependent on very touchy and important data).
>however thats why staking and actual decentralization of the network is so critical, to remove the need for direct subsidy to the nodes.
So you don't even understand why they're subsidizing the nodes right now? It's due to gas fees, and incentivizing network usage (i.e., not charging all of the people currently using Chainlink to front the gas fees themselves, which would decrease adoption). They could resolve this overnight, without staking, simply by charging more to fulfil service agreements -- this will be more feasibly achieved with L2 solutions and threshold signatures. Staking doesn't help in the slightest, because it's users paying for something entirely different: security.

>> No.30374245

>>30366029
>but i believe in sergs
I unironically get this same vibe. Even though we have been memeing the fat bastard into cult status I genuinely think he knows what he is doing. I am confident with the madman leading the ship. He deserves the statues og anons have promised to build of him. No homo

>> No.30374586

>>30373374
>>30370659
>What matters most right now for chainlink is getting an L2 solution up and running and making sure everyone properly understands that it is chainlink that enables it (Arbitrum). “Chainlink saves Ethereum” should be plastered everywhere by their marketing team to finally break into mainstream awareness, alongside a realization of how vastly more important it is *right now* than all of the literallly useless vaporware above it. L2 relieves sell pressure, and price action depends on normie and institutional attention during a bull cycle, that’s it.
totally agree but after link/btc breaking its bullish trend coinciding with the WEF link paper, lm not sure good news and marketing will even help price action. we've had plenty of good news...im probly just demoralized
>Staking is irrelevant, and again only important for maturing the network in the form of the full launch of the chainlink market.
strongly disagree, decentralization and maturation of the network is everything otherwise its just a centralized kyc oracle network and at that point, who cares?

>> No.30374932

>>30363458
>chainlink general
We're not xrpaypigs anon, we don't need a safe space to hide in.

>> No.30374980

>>30374586
>otherwise its just a centralized kyc oracle network and at that point, who cares?
Who cares? Oh just everyone is DeFi right fucking now, as it's the only oracle NETWORK with any degree of heterogeneity of nodes and semi-decentralization. I'm all for staking and want to see the full Chainlink marketplace burst open with a flood of entirely new data classes from non-KYC nodes, but they don't need that right now and are far more interested in a precisely implemented slow rollout of ultra-high quality data feeds that completely take over oracle adoption across all smart contract platforms, and which build trust in Chainlink as the number one standard for ultra reliable data. If they open the marketplace right now, some retard is going to hook up their contract to a hobby node and get wrecked and it could harm Chainlink's reputation as the walk the path from no trust -> high trust -> trustlessness.

>> No.30374985 [DELETED] 
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30374985

>> No.30374995
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30374995

>>30374586
Pamp et

>> No.30375053

>>30372477

It would smell delicious

>> No.30375138

>>30374932

XRPAYPIGS LOL

Funniest thing Ive read today

>> No.30375166

>>30373870
>Utterly retarded and false given the fact that everyone RIGHT NOW is using Chainlink
the punishment mechanism is literally sergey and its not decentralized. i stand by what i said. no one would use a decentralized chainlink without a decentralized punishment mechanism like staked collateral.
>So you don't even understand why they're subsidizing the nodes right now? It's due to gas fees, and incentivizing network usage
no shit its gas, faggot.

>> No.30375502

>>30375166
No one would use it? *Nearly everyone* who has a need for highly reliable data for smart contracts is using it right now. They're not waiting for staking, it's being used right now and will continue to be used and massively adopted in any case because it works and has an effectively flawless track records with dozens of entirely separate entities running nodes. If you knew it was gas btw, then you should have known that staking payments are entirely irrelevant to the continuous operation of the network. Nodes pay gas fees to fulfil contracts, so these fees naturally would be covered on the basis of this contract being fulfilled, i.e. fronted by the service agreement owner. That's not happening because they want to incentivize the network and do not want to turn away adoption by making Chainlink price feeds high cost to use. That's it. You want to solve this problem? It's not staking that fixies this, you should recognize now why that's retarded. It's lowering gas fees (L2, OCR, tsigs) and charging users more to fully cover the operation costs per contract (not feasibly now due to, who would have guessed, gas fees).

>> No.30376184
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30376184

>>30363458
IM UP TO 110 LINK. I WAS AT 97 A COUPLE WEEKS AGO. 150 HERE I COME