/biz/ - Business & Finance

Every dog has its day

GRT brings nothing new to the table. I hear the comparisons to LINK and laugh my ass off. It's basically a more advanced backend indexer for ETH, sort of like an Etherscan for nerds looking to derive more accessible data to build DeFi apps.

What does this mean? Nothing. It’s just a utility token that allows you to query data on the Ethereum blockchain network, which in itself is a piece of spaghetti code written by a zoomer Russian programmer. No major trillion-dollar company is ever going to use blockchain data to store data, ditching their safe and centralized data servers for easily hackable decentralized ETH-backed clognests.

The GRT token itself is not even related to the GRT service used by Uniswap and other DeFi token exchanges. It's just used to make the devs rich and you're pumping their bags on a worthless token. There is inherent value in the chainlink network because of node reputation. GRT doesn't need to establish trust, it just needs to convert data from one format to another. If the library was clientside then you could validate its output yourself.

The entire BTC blockchain throughout all its history is only ~300 GB. The entire ETH blockchain is ~1.5 TB. I've worked with larger git repos, where traversing the entire merkle tree only takes about 30 seconds on a reasonably powerful computer.

You're buying vaporware, don't be idealistic about any of these tokens and enjoy the free money. Get out at the top and never become a bagholder.

Actual programmer here with nearly a decade of experience in Visual Basic.

GRT brings nothing new to the table. I hear the comparisons to LINK and laugh my ass off. It's basically a more advanced backend indexer for ETH, sort of like an Etherscan for nerds looking to derive more accessible data to build DeFi apps.

What does this mean? Nothing. It’s just a utility token that allows you to query data on the Ethereum blockchain network, which in itself is a piece of spaghetti code written by a zoomer Russian programmer. No major trillion-dollar company is ever going to use blockchain data to store data, ditching their safe and centralized data servers for easily hackable decentralized ETH-backed clognests.

The GRT token itself is not even related to the GRT service used by Uniswap and other DeFi token exchanges. It's just used to make the devs rich and you're pumping their bags on a worthless token. There is inherent value in the chainlink network because of node reputation. GRT doesn't need to establish trust, it just needs to convert data from one format to another. If the library was clientside then you could validate its output yourself.

The entire BTC blockchain throughout all its history is only ~300 GB. The entire ETH blockchain is ~1.5 TB. I've worked with larger git repos, where traversing the entire merkle tree only takes about 30 seconds on a reasonably powerful computer.

You're buying vaporware, don't be idealistic about any of these tokens and enjoy the free money. Get out at the top and never become a bagholder

Computer science grad student here. The GRT token does not have a place in mature forms of smart contract technology. As a fee token, it adds friction to the process. More importantly, data providers _will_ prefer to delegate something other than GRT. They're not in the business of taking positions in tokens such as this. Staking and payment with GRT is far from the optimal setup and will be replaced by something else before mass adoption is feasible, like USDC or USDT and eventually something like AMPL.

This is extremely hard to admit for cultists. I now invite them to try and btfo me.

I have a big bag (750 grt) but I’m thinking about selling. How exactly are they gonna make money from searches is they only charge $0.00001 per search?

The average person searches google only a few dozen times a day. At that rate it would take years to even get a dollar in fees. Assuming they have a 100 million daily users that’s still only a few million per year.

I get that it’s the google of the blockchain but etherscan let’s me search for free, and google only makes money from ads. As far as I know GRT doesn’t tracks user data so they won’t be able to make any money from ad revenue.

Does GRT have any future? I see a lot of anons talking about how anything above two dollars is too much relative the value you get from actually using the service so there's no way it'll get above it. I've already made a 4x on it so I don't know whether or not to keep hodling or sell to put into another quick pump. Thoughts/price predictions?

> tfw bought 50,000 GRT at $2.89 (most of my life savings)

Fuck it. Just sold it all at a huge loss. Can’t believe I fell for a fucking /biz/ pump and dump. Can’t afford to lose any more. Gonna put what’s left in dividend stocks and treasury bonds.

Not saying that the coin doesn’t have amazing potential and will probably change the way we search for information but... it did grow about 300% in one day. I’ve seen this with other coins before but they’ve seen to have settled around that to some degree. GRT is currently at approximately $1.85 which in my opinion seems like a more reasonable price for it at the moment than $2.85. Do you think it’s possible it was a pump n dump that got it so high in the first place? Also I wonder how the guy who sold his house for GRT is doing right now?

Why does this still exist when PRQ makes it obsolete?

I have nearly a decade or experience with HTML and CSS. GRT brings nothing new to the table. I hear the comparisons to LINK and laugh my ass off. It's basically a more advanced backend indexer for ETH, sort of like an Etherscan for nerds looking to derive more accessible data to build DeFi apps. It's nothing like LINK, which is an equally useless first-party Oracle that centralizes transaction data and can't be verified because it comes from them. Link is basically an ETH token without it's own blockchain and a meme that went too far.

What does this mean? Nothing, you're seeing an artificial vaporwave pump. Both GRT and LINK are useless to the developer community because they're decentralized and rely on the Etherium blockchain network, which in itself is a piece of spaghetti code written by a zoomer Russian programmer. No major trillion-dollar company is ever going to use blockchain data to store data, ditching their safe and centralized data servers for easily hackable decentralized ETH-backed clognests.

The GRT token itself is not related to the GRT service used by Uniswap and other DeFi token exchanges. It's just used to make the devs rich and you're pumping their bags on a worthless token. PRQ is more advanced than the Graph and will index all blockchains at once while GRT is limited to ETH.

You're buying vaporwave, don't be idealistic about any of these tokens and enjoy the free money. Get out at the top and never become a bagholder.

I was bullish on GRT but I'm out. Love the project but there's just better gains to be made in other coins like McBase or Wynaut. Made a x3 profit on it and I'm happy with that.

Not to mention the token can’t go over $2 by design or else companies won’t be able to afford to use it.

GRT brings nothing new to the table. I hear the comparisons to LINK and laugh my ass off. It's basically a more advanced backend indexer for ETH, sort of like an Etherscan for nerds looking to derive more accessible data to build DeFi apps. It's nothing like LINK, which is an equally useless first-party Oracle that centralizes transaction data and can't be verified because it comes from them. Link is basically an ETH token without it's own blockchain and a meme that went too far.

What does this mean? Nothing, you're seeing an artificial vaporwave pump. Both GRT and LINK are useless to the developer community because they're decentralized and rely on the Etherium blockchain network, which in itself is a piece of spaghetti code written by a zoomer Russian programmer. No major trillion-dollar company is ever going to use blockchain data to store data, ditching their safe and centralized data servers for easily hackable decentralized ETH-backed clognests.

The GRT token itself is not related to the GRT service used by Uniswap and other DeFi token exchanges. It's just used to make the devs rich and you're pumping their bags on a worthless token. PRQ is more advanced than the Graph and will index all blockchains at once while GRT is limited to ETH.

You're buying vaporwave, don't be idealistic about any of these tokens and enjoy the free money. Get out at the top and never become a bagholder.

Why not just make an open source API on github and call it a day? Traversing a blockchain isn't particularly compute intensive and can happen clientside. Also, GraphQL has mostly fallen out of vogue because security is difficult and REST APIs are easier to document and normalize.

There is inherent value in the chainlink network because of node reputation. GRT doesn't need to establish trust, it just needs to convert data from one format to another. If the library was clientside then you could validate its output yourself.

The entire BTC blockchain throughout all its history is only ~300 GB. The entire ETH blockchain is ~1.5 GB. I've worked with larger git repos, where traversing the entire merkle tree only takes about 30 seconds on a reasonably powerful computer. GRT: Literally just Grep As A Service(tm)

I was bullish on GRT but I'm out. Love the project but there's better gains to be made in other coins like McBase or Wynaut. Made a x3 on it and I'm happy with that.

Not to mention the token can’t go over $2 by design or else companies won’t be able to afford to use it.

25 billion dollar valuation for a simple indexing protocol... what the fuck were we thinking?

I was bullish on GRT but I'm out. Love the project but there's better gains to be made in other coins like McBase and Wynaut. Made a x3 on it and I'm happy with that

What exactly is the point? What valuable information exists on the blockchain?

Fully diluted this has valuation of 20 billion, you’re telling me the ETH blockchain is worth $20 billion? It’s only a few TB of data. I don’t get it.

The token literally needs to stay under $2 or people won’t be able to afford to use it. The devs confirmed this in the telegram and will be commencing dumps as necessary.

The token literally needs to stay under $2 or people won’t be able to afford to use it. The devs confirmed this in the telegram and will be commencing dumps as necessary.

There’s no reason why a simple api indexer needs to be decentralized and even worse given a token. Utility tokens are retarded. Big companies would never use this

So why exactly does GRT exist? There’s no point. Companies will just set up their own server on AWS for pennies. Web 3.0 is a total meme.

It’s literally just an API. Cool service. Helps the defi space a lot. But there’s no token needed. People will just release their APIs for free. There’s no financial incentive here.

Wait so this is just an API aggregator? Why the fuck is a token needed?

> bought at 2.85 last week
> emergency stop loss at 1.40 triggered this morning

How should I kill my self?