/biz/ - Business & Finance

>>24042569
yes Chainlink will reach 81000 Dollars. Because of inflation of the US Dollar or because of the never ending list of usecases that will keep it pumping for decades.

>>23356748
Go to 42:50 in vid related
http://players.brightcove.net/45228659001/default_default/index.html?videoId=5846394387001
Also Houman Shadab
And Patrick Murck (pic related)
LINK 1k eoy

>>21809060
Also that is Patrick Murck talking about oracles just after the timestamp
1k is fud

>>20609631
Mining.

>>20592766
>You can’t mine link token.
They are performing node services for the Chainlink network and getting Link tokens in return.

They are "mining" Link tokens.

Pic very related.

Daily reminder that the Ripple network is vulnerable to a 21% attack. Yes...21%...

>>14933139
>The job of an oracle is to provide true information to smart contracts.
>Oracles only accept payment in Chainlink
>Oracles earn Chainlink if they provide true information
>Oracles lose Chainlink if they provide false information
>People are willing to pay money for true information
>Nobody wants to pay money for false information
>As long as the oracles provide true information, Chainlink will increase in both usage and value
>If oracles provide false information, it reduces the usage and value of Chainlink
>Therefore all oracles have an incentive to provide true information because it maximizes their revenue and maximizes the value of their assets.

>>14933887
>The job of an oracle is to provide true information to smart contracts.
>Oracles only accept payment in Chainlink
>Oracles earn Chainlink if they provide true information
>Oracles lose Chainlink if they provide false information
>People are willing to pay money for true information
>Nobody wants to pay money for false information
>As long as the oracles provide true information, Chainlink will increase in both usage and value
>If oracles provide false information, it reduces the usage and value of Chainlink
>Therefore all oracles have an incentive to provide true information because it maximizes their revenue and maximizes the value of their assets.

>>14926091
It's OK, you still have time to go all-in on Chainlink.

>>14922189
>ETH is OIL that keeps the System going.
I agree with everything you posted, but I just wanted to highlight the above concept.

>>14918613
this

>>14916737
>>14916806

>>14368770
>oracles are the new miners

>>13972079
And with Chainlink you have to complete oracle computations to get Link.
Picrel.

All the new people who have bought LINK from +60 cents have weak hands, don't understand the project's potential and care about its fundamentals, they only joined in on the mainnet pump and will sell after mainnet release.

First few months of mainnet are gonna be rough on true linkies. Centralized trusted nodes, no SWIFT outputs, no SGX, no staking, no linkpool, no reputation, no marketplace, few big clients ready for adoption beyond small scale PoCs. It's gonna take a while for the whole product to take shape, it'll be difficult to witness link dump back down below one dollar and falling in ranks while random shitcoins keep mooning.

Witnet, ironically, will (artificially) pump harder than LINK once their tokens become public. More decentralized oracles shitcoins will appear and the crypto community will slowly realize what's at stake.

Link will retain its first mover advantage and network effect and slowly but surely big players will join, now you have SGX and LINK recognized as the standard oracle of BaaS and private chains, price will rise again. Once staking kicks in and the community realizes it's even more lucrative than mining due to nodes being the middlemen between the API economy and the blockchain. It won't be a whitepaper concept anymore, it'll be reality, and the tokenomics will take link to the next level. There will be serious FUD along the way with the first attempts at breaking SGX and sybil attacks, some opportunistic low quality pools will appear. The juicy big derivatives contracts combined with the marketplace with hundreds of pre-made chainlinks allowing smart contract devs to quickly and easily produce real world connected, easily monetizable dapps for normie adoption will induce massive FOMO and take us to the moon.

>>13753003

Lets check this article from August last year, it kinda went down the memory hole for some reason but there is some juicy information in there that has not been talked about here before:

>https://www.americanbanker.com/news/the-race-to-connect-smart-contracts-to-the-real-world
(citing the growth of its web edition.[7] AmericanBanker.com receives more than 1 million page views per month)

now the interesting part about the article is that bit here:
>"Oracles are the new miners in the blockchain world," Patrick Murck, special counsel at the New York law firm Cooley, recalls saying at a conference last year. "And I still believe that's true."

Now who is Patrick Murck you might ask.
>https://www.linkedin.com/in/patrickmurck
he is a lawyer that was really early on advocating for bitcoin and this Cooley he is working for is a really big law firm:
>https://en.wikipedia.org/wiki/Cooley_LLP
...that is also involved in the accord project (chainlink contributes to this project):
>https://www.accordproject.org/

>"...recalls saying at a conference last year."
so I digged around and the conference they talk about is Consensus 2016 and here this is what he said:

https://youtu.be/FsNQEQ5VSZc?t=1943

(it starts at 32:23, Murck is the guy in the middle)

>"so everybody who missed out on mining Bitcoin, Oracles are the new miners, like oracles is the new mining, thats actually going to be one of the easiest to attain like value add services in this whole ecosystem"
>"...its a huge business opportunity"