[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]

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

/biz/ - Business & Finance

File: 37 KB, 670x496, 1506561861491.jpg [View same] [iqdb] [saucenao] [google]

3651881

Anonymous Thu Sep 28 15:58:30 2017 No.3651881 [Reply] [Original]

Can anyone explain how the LINK token will work? My understanding is that a smart contract will give some LINK to a node operator for providing a service (linked to an offchain service), but I don't see how it gives value to the coin.
For example if Paypal creates a node to interact with the blockchain, Paypal's node will receive LINK. But since Paypal will want you to use their service, they will most likely ask for a very low amount of LINK to encourage smart contracts to use it. With that in mind, my understanding is that the token demand will be very low, leading to low prices. What am I missing?
From the white paper:
In order for a smart contract on networks like Ethereum to use a ChainLink node, they will need to pay their chosen ChainLink Node Operator using LINK tokens, with prices being set by the node operator based on demand for the off-chain resource their ChainLink provides, and the supply of other similar resources.

>>	Anonymous Thu Sep 28 16:44:36 2017 No.3652288 no answer despite all the shilling?

>>

Anonymous Thu Sep 28 16:46:20 2017 No.3652306

Chainlink is the biggest hype coin ive seen on biz. People are buying it because they see the swift brand associated with it

In addition to the economics you brought up using a blockchain to link centralised non block chain data has no advantage over a normal api and would be more expensive and slower.

No doubt link price will perform very well short term because of "muh swift" but dump your bags at the top

>>	Anonymous Thu Sep 28 16:47:00 2017 No.3652312 You're missing the part where node operators hoard the token to get their nodes more traffic.

>>	Anonymous Thu Sep 28 16:47:01 2017 No.3652313 >>3651881 >Can anyone explain how the LINK token will work? It won't work shit before the oracle thing is solved. Also it's already obsolete. They are trying to do what ripple does

>>	Anonymous Thu Sep 28 16:47:13 2017 No.3652314 I'm so glad I didn't buy into this garbage coin. I'm already seeing sell walls come up from everyone realizing its never going to moon

>>	Anonymous Thu Sep 28 16:48:01 2017 No.3652324 >>3652314 ADHD much?

>>	Anonymous Thu Sep 28 16:49:47 2017 No.3652338 >>3652314 The coin is doing great, what are you talking about?

>>	Anonymous Thu Sep 28 16:50:34 2017 No.3652350 >>3652324 How in the world does that mean ADHD

>>	Anonymous Thu Sep 28 16:50:35 2017 No.3652351 >>3652314 >gets scared of a dip that doesn't even take it below yesterday's ATH >sells before the conference in three weeks Some people just don't have what it takes.

>>	Anonymous Thu Sep 28 16:50:42 2017 No.3652352 >>3651881 >he bought link >he didn't buy walton

>>	Anonymous Thu Sep 28 16:51:09 2017 No.3652358 >>3652314 I know you must feel like a genius, but you're honestly retarded. This "garbage coin" will be $1 before end of October

>>	Anonymous Thu Sep 28 16:51:17 2017 No.3652363 Are we fudding again?

>>	Anonymous Thu Sep 28 16:58:22 2017 No.3652433 People think that SWIFT is going to let the prices they pay to transmit information be determined by node operators?

>>	Anonymous Thu Sep 28 17:00:08 2017 No.3652446 >>3652433 listen, just buy the fucking coin. Why are you fudding like this? I'm not selling my bags.

>>

Anonymous Thu Sep 28 17:00:50 2017 No.3652455

>>3652338
>>3652351
>>3652358
Reminds everyone that LINK isn't going to explode.
>but muh link has to explode because I put my life savings into it.
Yes it is a good coin but will eventually have no demand, literally every /biz/ person is holding this coin.

>>	Anonymous Thu Sep 28 17:02:29 2017 No.3652473 >>3652455 >literally every /biz/ person is holding this coin That's right. The smart money is on LINK

>>	Anonymous Thu Sep 28 17:02:46 2017 No.3652478 >>3652455 Go back to trying to milk another 2% out of OMG.

>>	Anonymous Thu Sep 28 17:02:47 2017 No.3652481 >>3652455 >Yes it is a good coin but will eventually have no demand Just like Ripple has no demand, I mean no system on Earth is currently using it.

>>	Anonymous Thu Sep 28 17:08:55 2017 No.3652519 File: 346 KB, 936x936, 1500227445947.png [View same] [iqdb] [saucenao] [google] >>3652478 Never held omg. But you guys who would risk that 100% gain over guaranteed 2% gains must have no idea what leverage is

>>	Anonymous Thu Sep 28 17:40:52 2017 No.3652799 >>3652312 how does hoarding the token increase traffic?

>>	Anonymous Thu Sep 28 17:43:19 2017 No.3652828 >>3652799 it's literally a part of the node ranking algorithm did you even read the paper? kys

>>	Anonymous Thu Sep 28 17:46:03 2017 No.3652859 >>3652306 >no advantage over a normal api and would be more expensive and slower. Do you have any earthly idea what ChainLink actually is?

>>	Anonymous Thu Sep 28 17:54:54 2017 No.3652967 >>3652828 There's no mention of a node ranking algorithm in the whitepaper you dumb fuck

>>	Anonymous Thu Sep 28 17:57:20 2017 No.3652996 Is it time to FUD again? We still have a ways to go before the conference and I'm trying to get some more cheap LINK

>>	Anonymous Thu Sep 28 18:26:01 2017 No.3653289 File: 62 KB, 559x989, mKnK3cG.png [View same] [iqdb] [saucenao] [google] >>3652473 >/biz/ >smart money

>>	Anonymous Thu Sep 28 18:28:15 2017 No.3653320 >>3652828 >muh read duh huwyte paypah Read it as many times as you want,it won't make the coin go up.