chainlink

[Anonymous No.3938490]

A scenario: SWIFT starts to transport financial messages using ChainLink network. That's more than 11,000 financial institutions in more than 200 countries, 15 million messages per day moving billions of dollars. For providing all this off-chain data to the network the banks pay the node operators with the LINK token. Sounds HUGE, but considering this: quoting the whitepaper here: "pay their chosen node operator with prices being set by the node operator", I would assume each part of the SWIFT network would themselves provide the data to ChainLink network. Thus making themselves the chosen operator and the party which sets the price simultaneously. Can someone please explain me what makes the token valuable?

[Anonymous No.3938500]

>>3938490
CHAINLINK:
>1 billion coins
>350 million in circulation
>550 million owned by developer ready to dump
>raised over 100 million dollars for "development", has no developers
>no blockchain
>no company
>github has 1 pajeet who stopped sending commits in June
>fake SWIFT "partnership"
>50 cents a coin

BITBEAN:
>2 billion coins
>2 billion in circulation
>less than 100 million owned by developer, never dumps
>open source
>real secure blockchain, never has a single issue
>has a team of developers incentivized with the beancore program
>has actual merchants, a community, and a reason to exist
>50 sat

[Anonymous No.3938525]

>>3938500
ahh boy, you aren't bored with all that copypasting shit?

[Anonymous No.3938533]

>>3938525
Maybe once you link bagholders fuck off to whatever reddit you came from.

[Anonymous No.3938585]

>>3938490
>I would assume each part of the SWIFT network would themselves provide the data to ChainLink network
I don't think this is right, because then they wouldn't need chainlink at all, they could just hardcode their own oracle on ethereum. Or they could just use chainlink because it's easier to implement and then it will be as you say, they just set a very low price (at the provisio that non-swift people could probably use the same oracles as well, at that price).
The real usecase of chainlink is when two people have who don't trust each other need an oracle, and then you'll want to have multiple 3rd party oracles who are staking LINK, obviously 3rd party oracles won't do it for free since earning money is their only incentive.

[Anonymous No.3938587]

Needless to say the tech behind ChainLink is groundbreaking, but really after all this shilling there's no-one to explain what actually makes it a good investment? Honest question here.

[Anonymous No.3938620]

>>3938585
Thank you! This makes sense. So the banks for example would pay for trust.

[Anonymous No.3938638]

>>3938587
Looking at the market cap, it seems good to me. Like you said, it's groundbreaking tech. a great idea, and the team already has strong connections. Should it really be worth the same as Dogecoin?

[Anonymous No.3938685]

>>3938500
>ready to dump
Those are for use in the node network, dumbass.

>no developers
Lmao, first "only" two devs, now none.
Next week "negative amount of devs!!!!".

[Anonymous No.3938694]

>>3938638
None of what you said has any significance to the justifiable value of the token.

[Anonymous No.3938705]

It's sad how delusional Linkfags are, isn't it? I don't blame them in a way. They're seeing coins moon left and right, and they're forced to miss out due to sheer inability to choose a winner. They're losers. Likely fat so unemployable, ugly so cant get a girlfriend. They've seen so many coins moon, and they had enough. So they assemble in a slack and decide they'll choose the next ICO that comes around, and just write more topics than any other coin in crypto history. They came upon one called ChainLink. The problem? We aren't fucking stupid. We see vaporware, fake news, and blind hype from a mile away. Hell, Vitalik did before any of us, saying their ICO was a piece of shit. Now some of us on /biz/ are old school and have made a lot of money off this and we choose very carefully what coins to invest in, and someone maybe should tell them that we dont decide what moons based on the number of threads that are posted on /biz/. I mean the rest of you have the power of what, 2 cents of price motion? You need to convince us. Unless its the social proof youre after. They know theyre failing and dont have a single convincing argument that whales would believe, so theyre hoping those redditors from ethtrader might see what their big brothers at /biz/ are doing, considering theyve stolen everything theyve ever had from /biz/s culture. Except that sort of hot air needs some convincing concept. Some convincing tech. Something other than muh ripple on ethereum muh fake conference muh swift. Not enough. And thats why theyre going to fail. It was a good attempt but they were about six months late from the DGB era where this shit might have flied. Maybe theyll have better luck on the next coin?

[Anonymous No.3938734]

>>3938694
The amount of data that will go through these nodes will be huge, think google huge in terms of data. Continous API querying and continuous smart contract processing. This system will be HUUUUUGE. And everyone will get paid in LINK. So the token is really fucking valuable. And also, if you stake it you will get better reputation and can earn more LINK

[Anonymous No.3938765]

>>3938694
Still whatever the case, I do believe this will gain in value tho. Just not sure what the price is based on

[Anonymous No.3938768]

>>3938490
The transactions are dependent on external sources gathered by external nodes.
See pic which was literally half of the SIBOS slide show presented by Sergey.

[Anonymous No.3938785]

>>3938490
You're also too focused on SWIFT alone.
LINK's use case goes FAR beyond SWIFT.

Far beyond traditional finance and banking, even.

It's basically a peer-to-peer contract system.

[Anonymous No.3938798]

>>3938768
But if you are going to use their oracle you have to pay for it. Customers using request has to pay for it. Anyone using a smart contract, a percentage of the proceeds will go to pay the oracle. LAL

[Anonymous No.3938814]

>>3938734
Thank you for your good insight anon!

[Anonymous No.3938844]

>>3938785
Thank you! I'm glad I asked. I'm starting to really understand what this is all about!

[Anonymous No.3938900]

>>3938798
Of course.
Otherwise why would anyone even run an oracle?

You cannot have a decentralized network without compensation.
Just like no-one would be running full bitcoin nodes if it weren't for the money.

This is the very heart of crypto.

[Anonymous No.3939104]

To be fair, you have to have a very high IQ to be a chainlink investor. The hints are extrenely subtle, and without a solid grasp of the banking system most of the hints will go over a typical newfags head. There’s also Sergies optimistic outlook, which is deftly woven into his characterisation- his personal philosophy draws heavily from satoshi nakamoto's literature, for instance. The investors understand this stuff; they have the intellectual capacity to truly appreciate the depths of this coin, to realise its not just brilliant- is can change peoplea LIVES. As a consequence people who dislike chainlink truly ARE idiots- of course they wouldn’t appreciate, for instance, the humour in sergies existential catchphrase “See you at SIBOS” which itself is a cryptic reference to the international banking conference. I’m smirking right now just imagining one of those addlepated simpletons scratching their heads in confusion as the chainlink development team's genius wit unfolds itself on their binance trading screens. What fools.. how I pity them.