/biz/ - Business & Finance

Sideways From Pricefeeds

Why were we in the business & finance community so down on Chainlink?
Well, we weren't at first. Nobody in the word business ever objects to a
successful data provider business — certainly not wojaks, all of whom secretly
dream of that big 1000x that finally liberates them from wageslaving. The idea
of an oracle system that finally brought the Byzantine fault tolerance problem
to its knees for hybrid smart contracts was certainly heady.

But there was always something a little weird about Chainlink. Part of it
Sergey Nazarov, whose obese look and insatiable hunger seemed a little too
much like a Mr Creosote from Monthy Python. Then there was the business
itself. The price feeds we could understand, though it was hard to see where
the profits lay. But then Chainlink went sideways — into random number
generation, then NFT’s, then decentralized insurance and tokenization, then
after chatGPT in AI, the hype of the moment.
The company, unbelievably cash rich from its inflated token prices, also went
on an acquisition tear, buying, as Nazarov now admits, not only companies in
markets in which it wanted to compete, but also in markets it might someday
maybe want to compete in.

To the Reddit observer, this all started to look like a New Economy version of
the Old Economy joke: the one about losing money on every item, but making
it up in volume. Don't worry, Nazarov kept telling the slack-jawed normies,
we'll just keep getting bigger and — soon — the profits will come.

But the profits never came. And the skepticism about Chainlink that followed,
combined with an outrageously high inflation, the surfeit of cryptos with absurd
business strategies, and the SEC’s attack on the crypto industry, that finally
popped the bubble.

>>54304756
more FUD than you can eat
generational wealth if you can resist selling for 5 years

>>51566666
holy checked ccip confirmed for smartcon

>>51223833
>>51224000
lel checked

>>50634457
i see that now, though it seems odd to take 1k eoy as literal in this instance since i think in general most people don't take it literally. (note that i do think link is going to 1k, i just don't think 1keoy is generally used in the LITERAL sense of always referring to this specific year). it's equivalent to rebbit saying "to the moon". the phrase has taken on meaning of its own beyond its original literal meaning. so i think the guy was just referring to expected massive price appreciation in general, not the hypothetical of link going to exactly 1k by the end of exactly this calendar year.

>>50112293
sweet thanks for the update. hadn't realized they had already moved linkies to the new wallets. staking is coming, and these are exciting times we live in.

>Two more weeks minus 10 days

$12 TONIGHT

Partnership with aliens confirmed.

T

>>18122170

no papers, no good education.. literally a billionaire.
and what about you my fellow burger?

3 days before the Capture of Berlin

based

WE ARE GONNA MAKE IT LIKE THIS MONTH

>>15237651
I fell humbled because I watched it for 2 years but didn't buy any because I fell for the "LINK is a meme" meme. But I have repented of my ways and FOMO'd in after the Coinbase pump.

WAVES platform bent the knee
22nd line
https://github.com/wavesplatform/GatewaysInfrastructure/blob/3105852a87d545dd83d84b1929c5fbdd378d94ca/Adapters/Eth/services/transaction_test.go

swift, microsoft, neo, wave, etc
get ready anons

Reminder that Chainlink FUD is a test

link mooning
all the fuders and swingers on suicide watch
absolute state of biz board