/biz/ - Business & Finance

delusions of grandeur

>>10979034
In order for the LINK network to function at all, token price MUST be high.

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!!

THIS SHIT IS GOING TO REACH $1,000 EASILY! HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

>>10979063
you are a BIGMAC

>>10978899
>consecutive double dubs confirm
This is actually quite conservative; LINK's ATH shall exceed Ethereum's by end of year (2019/'20).

>>10978899
Will retards actually fall for this?
>>10979034
this
>>10979063
Fuckoff Consensys/OpenLaw
your scam will be exposed soon.

>>10979041

so it will never work. Thanks bro, i'll stay the fuck away from this memecoin.

>>10979342
token price raises to meet demand

>>10979078
topkekked

>>10979420
Imagine being this much of a desperate scammer

>>10979420
>there will be demand for my token up to $820 because otherwise the network won't work
dear lord

>>10978899
Don' tell them bro. Let them buy in when it's 10$ .

>>10979472
>>10979433
If the amount of collateral requested by banks for collateral is 1% of the 82 trillion bond market, the token price will need to rise to 820 dollars so the network can function. Even 0.1% would be 82 dollars. You cant argue with maths sweetie :)

>>10979494
Then nobody buys your shitty token for such absurd prices, and the network doesn't work, sending the price to 0. Problem solved.

>>10979494
This asshole thinks 1+1=2 makes him a genius of some sort in fintech. Keep dreaming.

>>10979513
SWIFT is a network of 10,000 banks that will use the network to save money on e.g. bonds and derivatives.
ICO sold out in minutes.
The token will be bought.

>>10979521
I'm going to screencap these posts and repost in 5 years when I'm a millionaire.

>>10979718
"Will be bought" != "will be bought for $820". There is always a price level at which there are no longer any buyers willing to pay that much, that's just basic economics.

When you start thinking that "the network won't work if prices aren't high enough" is somehow a good thing and would somehow magically incentivize buyers to pay high prices, that's a sign you've completely abandoned all reason.

>>10979778
They wont even be thinking about the price of the token. They'll convert from LINK to fiat and vice versa instantly as needed.

>>10979804
Whether they think about the price of the token or just measure their collateral amount in fiat, you're suggesting that node operators will lock up $820 billion in volatile LINK tokens just so they can service API calls.

Besides being an insane amount of money to have locked up, in a volatile memecoin or otherwise, there's also the problem that a technical error on the node operator's end or worse, an error by the API provider, would cause them to automatically lose millions or billions in penalty payments. Who the fuck is going to run nodes under such conditions?

>>10979804
>They wont even be thinking about the price of the token.
>This will make the price go up

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA *breathes in* HAHAHAHAHAHAHAHAHAHAHAHAHAHA

>>10979861
>>10979861
There is nothing far fetched about the link network locking up 820 billion dollars. That’s only a small fraction of the bonds market. Not even thinking about derivatives and the many other users of the network. The collateral and incentive system is part of game theory and is very clever and economically and logically sound.

It won’t be that difficult to run a node. Downtime won’t happen if you use something like AWS and take precautions. There isn’t really any other issue that could arise aside from your own malicious behaviour. If you don’t want to take the risk then don’t take on the job. Probably only very high reputation nodes will take on the riskiest jobs. I’m not saying that the collateral will = the value of the smart contract but even 1$ of the bond market as collateral makes an 82 dollar token, anon.

By moving the risk from the smart contract creator to the oracle, this incentivises very high value smart contract creators such as financial market type guys to use the link network. Sergey has talked about this at length. How are you not getting it? chainlink is AIMED at very large smart contracts such as bonds and derivative markets. This is because they don’t have to take the risk that the smart contract will go wrong and will save millions of dollars per day by switching to smart contracts. I’m spelling it out for you in very simple terms here. It’s not that hard to understand.

>>10979861
>insane amount of money
Bitcoin at 7000 dollars is insane too.

It is true and you’re right that volatility is the biggest barrier to adoption of crypto right now, but chainlink has solved this problem: it’s possible to convert from fiat to link instantly and vice versa. Volatility is no problem.

The LINK tokens will be locked up for seconds or minutes, most likely.

>>10979886
Anon, buying pressure makes price go up. They’ll simply buy what they need in fiat terms. When the amount needed is not available in link tokens, they’ll be more desperate to buy them up, hence buying them at a higher price. That’s how crypto works already.

>>10980291
>>10980300
Ok, let's get some perspective here. After three rounds of quantitative easing, the US Federal Reserve's balance sheet contains about $4.5 trillion in assets, with about $2.5 trillion in US treasuries and $1.5 trillion in mortgage backed securities.

You're proposing that in order to feed the results of API calls into smart contracts, somebody is going to allocate about ONE FIFTH or the entire balance sheet of the FEDERAL RESERVE, in chainlink tokens, to just sit there at risk of catastrophic losses if the price of link drops from its insane $820 billion market cap.

wew lad

>>10978899
The full amount won't need to be staked 100% of the time.

Divide $820 by 364 (the number of days in a year) to get another possible price, assuming that the amount of money being handled via the ChainLink network is evenly distributed over the entire year.

>>10979078
well meem'd

>>10979311
> checked brother

>>10980498
>somebody
SWIFT is a network of 10,000 banks. I can’t remember how many transactions they do per day but I read somewhere it was something crazy like in the millions. If 10,000 banks are doing 5 transactions per day and each one is worth 1 million dollars... you figure it out yourself.

>just sit there at risk of catastrophic losses if the price of link drops
The smart contract will take seconds or minutes to execute so the tokens will only be locked up for a moment. So can convert to fiat within a few moments so volatility is not an issue. It’s the node operators that put up collateral anyway and they’re more likely to be invested in the link network and token so of course they’re going to hold on to the token regardless of price fluctuations. The token is the only way to use the network so it will be valuable despite any volatility. Like I said before, the fiat value is what’s important. The tokens are just a mechanism to ensure, via game theory, that the smart contracts are truly trustless and with an acceptable amount of risk for very high value transactions such as bonds and derivatives.

Derivatives market is in the quadrillion of dollars. And derivatives are very very well suited to smart contracts because they have very clear terms that can easily be coded. And they will need an oracle, and one that reduces risk for them. So yes. The amount they will save via automation will Be huge. Sergey said in one video they spend millions per day on aggregation. Link will do it for pennies.

You need to adopt a more forward thinking and visionary attitude. Smart contracts really are world changing technology that have been conceptualised and researched for years now and chainlink really is a clever little system to make it all run smoothly.

>>10980551
Yep, that’s also a possibility.

As long as you state your assumptions, this kind of calculation is totally legit.

Maybe we could add up 1% of all the financial markets LINK will introduce to smart contracts. And insurance markets, all the industry use cases, etc etc. I mean what’s 1% of 1 quadrillion...?

when is the right time to buy link

>>10979078

>>10980638
Always

>>10980604
>It’s the node operators that put up collateral anyway
Exactly. So the node operators are this "somebody" who's going to have to pony up $820 billion dollars to service API calls. If they want to store their collateral in fiat they'd need to incur transaction fees and slippage every single time they do a job, so otherwise we're back to somebody (in aggregate) paying and storing $820 billion in LINK tokens.

Besides the massive risk of LINK token volatility, there's also the question of return on capital. How much are the node operators going to have to be paid to justify storing that much capital in LINK that could have been invested somewhere else at much less risk (and, if the price is already $820, probably higher return)? How much are your 10,000 banks actually going to pay to fucking get data from an external API onto a blockchain? Yeah it's a valuable service, but you don't currently see anyone paying billions a year to access APIs. They're supposed to be SAVING money with this, remember?

>>10978899
Chainlink is like an online girlfriend:

You meet her online, her pics are sexy as shit.

Over a few months, her pictures get less and less attractive. You bring this up and ask if she's ok. She's offended and types in all caps: "I'M WORTH $1000 EOY!!! FUCK YOU!!!"

And because of how crazy she is and her multiple personalities(proxies, shills), you ignore it completely and still go crazy for her because you look at her sexy photos from the past.

She tells you she's a virgin, she tells you she's a millionaire. It all seems to be too good to be true.

October 2018 hits:

It's time to finally meet her in person.
You meet up with her in a coffee shop.

You've lowered your standards where you hope to gain something..maybe a kiss, some sex if you're lucky.

She enters in, she's literally a fucking Indian man.

He sits down with you and says "Thank you for your time and money. Thank you for your attention. Thank you for being obsessed with me. I must go on now. Sorry for scamming you, but I needed this."

And you end up killing yourself.

I bought into this memecoin and own 15k. I'll be happy with $5 at this point. $75k is still a fuck load of money and I can start a nice investment portfolio with that.

>>10980685
>How much are your 10,000 banks actually going to pay to fucking get data from an external API onto a blockchain? ... They're supposed to be SAVING money with this, remember?
Where the fuck have you got this from? You have misunderstood.

The smart contract creator will reward the node operator with LINK that will end up being a fraction of the cost of doing the same thing via traditional systems.

We don’t know how much money can be made from running a node, but what we can take a guess from is based on the current size of the API economy and current charges for API calls including those for smart contracts.

we can work out the income you could make from a node based on the number of monetised API requests that are being made nowadays by traditional businesses and the amount they charge.
>https://nordicapis.com/the-ultimate-guide-to-pricing-your-api/
Assume that smart contracts requiring external data become mainstream and the crypto API economy reaches the same size as the regular API economy now.
Let’s take the “hobbyist” from nordicapis.com as equivalent to a NEET running a chainlink node. That’s 688,991 calls per month. Per year it’s 8,267,892 calls. Say you charge $0.01 per call, which nordicapi reports, and is the minimum Oraclize charges. That’s $82,678.92 a year. IBM Watson charges $0.0025 per call which would be $20,669.73 per year.

Docusign says for their API that "You may not exceed 1,000 API requests per account per hour". Lol, ok so 1000 per hour is 24,000 a day, times 1 cent per job is $87,600 per year per node operator. With 19,000 node operators (Sergey's number) serving 1000 API requests per hour that's a total revenue of all nodes of $1,664,400,000 per year. That’s only 0.08% of $2.2 trillion (estimated total value of API economy in 2018).

Whichever way you look at it, LINK is gonna make us fucking rich. I’ve been nice and taken the time to educate you. If you still aren’t convinced I feel sorry for you.

>>10980703
if you sell at 5$ you will regret it for the rest of your life and link price will haunt you in your dreams

>>10980624
Dont get me wrong. I think smart contracts are going to be huge.

Reducing costs probably means more customized insurance plans. It probably means cheaper (or even just more than none!) crop insurance for poor third world farmers. Anything where the cost of drawing up and enforcing a contract is greater than the value derived from the transaction by it's participants is probably just waiting to be made possible by ChainLink.

As price goes down, adoption increases. If ChainLink works, we may see a level of adoption in ten years that is pervasive, where everything we pay for causes some interaction with a smart contract at some point.

But taking total possible utilization and assuming that's a constant thing just seems very wrong to me.

$820 is FUD

>>10980685
To sum it up, LINK has going in its favour:
>PSD2 which means European banks must provide access to their APIs: can be monetised via chainlink nodes.
>innovation in fintech stemming from psd2 and smart contracts
>smart contracts in general will be mass adopted by 2025
>smart contracts, crypto and blockchain are being adopted in general by institutions and banks
>The API economy is growing rapidly and monetisation of APIs is already a thing
>the number of transactions that could be replaced by smart contracts is in the millions with SWIFT alone and probably in billions or trillions if we look at the entire globe and all financial markets
>the number of API calls being made today are already ridiculously large, in the billions. 4 billion per day for Netflix IIRC.
>the VALUE of those financial market transactions that could be replaced by smart contracts is astronomical. In the quadrillions.
>anything that saves money will be adopted for sure
>Sergey is very well connected and the LINK network will have users from day 1

Don’t ya think LINK stands a pretty fucking good chance based on these factors?

>>10980733
>But taking total possible utilization and assuming that's a constant thing just seems very wrong to me
See: network effect
I’m sure utilisation will grow and grow then level off until the tech becomes obselete in a couple centuries

>>10978899
How is LINK better than QTUM?

>>10980693
pls share this copypasta. surely enjoyed it.

>>10980720
>Where the fuck have you got this from? You have misunderstood.
I don't think you're even trying to understand what I'm saying. If the node operators need to lock up, in aggregate, $820 billion in LINK tokens in order to provide their services, then the amount they must be paid in LINK needs to be sufficient to justify doing that instead of putting the $820 billion in a safer, more profitable investment. At just 3% ROI you'd need $24 billion per year.

Now we move onto the second half of your argument
>that's a total revenue of all nodes of $1,664,400,000 per year
Even for this "paltry" $1.6 billion as opposed to $24 billion, you're making the unwarranted assumption that by simply setting up a node to RELAY data from a pre-existing API, not actually provide data just RELAY it, you're going to be extracting massive rents from the market. Given that setting up a node is not exactly a high skill endeavor (as opposed to actually providing an end-point API and data source), the only barrier to entry is being willing to put up the capital for penalty payments. There is nothing to distinguish one node from another other than whether the node is trying to run a scam or not. This is not an environment where prices will stay above the absolute minimum of profitability for long.

But what IS that minimum of profitability, if you need to put up so much capital to get your high value requests? At what point are your customers no longer saving money with blockchains because they have to compensate you for all the collateral you need? At some price of LINK, they're probably better off just using oraclize ffs.

>I’ve been nice and taken the time to educate you.
Educate yourself on econ 101 first, then you can educate others on /biz/

>>10979472
Lol you're talking to fucking Michael scott

>>10979494
How much more expensive is that than the system currently in place? Sounds like a broken dapp built on eth which itself is broken and constantly fudded by Vitalik himself. Muh casper, muh muh

deadcoins

>>10978899
gtfo stinky

>>10980804
Kys inner cultist cuck

>>10981027
How is LINK better than QTUM?

>>10980792
Yes, if everything goes well and the team does a great job on execution, I think chainlink can potentially be a very successful project and can reach maybe $10-$20, giving it a very very high but not totally unreasonable $10-$20 billion market cap. I have a suicide insurance stack myself.

>>10980685
>network worth != cost to use network

>>10981119
To reiterate. Facebook is worth billions. To use Facebook it’s free. Google is worth billions probably even trillions. Yet makes our lives easier 100 fold.

>>10978899
your math is off dumbo

>>10981119
Economics says otherwise. LINK is an unproductive asset that does not pay dividends or interest. The only way to get staked LINK to pay out is by getting paid more LINK for jobs. That means the cost to use the network has to be proportional to the value of the staked LINK, or node operators will leave and find a more productive investment.

>>10981150
>>10979402 How LINK will increase its value

S T I N K

>>10981161
>LINK will be bought and used by the users of the network
Yes, users will buy LINK and pay the nodes, who will then either sell it (yielding no net increase in LINK price), or keep it either for staking or to speculate on it. Speculating on LINK is fine when it's 27 cents, but it will be a different value proposition if it's already $10 and has a lot farther to potentially fall. So in the end it comes back down to how much is going to be locked up for penalty payments. Any price increase beyond that would be driven by pure speculation, which is no different from any other ERC20 token.

>>10981070
DYOR

>>10981250
I did. Thanks to AAL. Has the security of Bitcoin making it better than Ethereum. And, it has the platform similar in design to Ethereum but with more languages for DAPPS. It has the third most decentralized network behind Bitcoin and Ethereum. Qtum DApp Platform joined Amazon Web Services making it hardware cost effective.

>>10981292
>>10981250
It actually has a VM platform finished. Which most coins can't even say that.

learn math retard, calculate how much market cap it needs to be 820$ fuckwit retards like you will never make it

>>10979494
lol what a retard are you a pajeet?

>>10980848
If I'm understanding what the other anon said correctly, he's saying that the money locked up in a contract will only be held for seconds and then released. So it isn't just sitting there wasting away. And there would be no worry of the token price taking a huge hit since the transaction is so quick.

>>10981539

>>10981386
Um, sweetie... take you pills

>>10981539
Even if it's only locked up for a few seconds, it's still sitting there in LINK unless the node operator sells it all immediately and then re-buys it next time he gets a job; not really practical for large amounts.

But it's true that since it's only used a few seconds at a time, the same LINK can be used for many jobs each day. That would allow a much smaller amount of total LINK to be used as collateral than the number you'd get by taking some percentage of the total value of all the contracts being processed, so you'd have a more reasonable situation that doesn't require huge amounts of collateral and won't result in LINK having to be pumped to insane prices like $820.

>>10981616
dude chill i put 4,000USD into link because i love the memes.
After all ive seen with both FUD and shilling i am able to rationalize my investment.
It is not my only holding and say sergey pulls an exit scam and the tokens lose all value.
You won't have to worry about me because i will be just fine.
Im actually buying more once i get paid tommorow.
im not even reading your posts.

>>10981750
>1 post by this ID
o..ok, thanks for sharing?

>>10981779
Probably forgot to switch IPs after posting in another thread

>>10979513
You can buy less, far less, than a single whole token.

>>10981917
anon...

>>10980604
Fact

>>10980604
Not to mention that the point of collateral is in case some node goes rogue. So in the doomsday scenario everyone is envisioning, someone would deliberately dump the market that would be liquid as fuck if LINK takes off (that's everyone's assumption right? From $1000 to $.1 after all) then fucks up his own node just to invalidate a single transaction.

>>10981204
If smart contracts and oracles became huge, running a node would give you a cash cow on all legal agreements/smart contract transactions out there. Would be a new potentially very lucrative business model as everything moves digital and automation happens. Chainlink oracles on a fast blockchain with IOT could bring in a ton more money.

In the digital world, something like Link can be a the center of it all since its the link between our data and having a fully interconnected digital world

>>10981204
What if the users of the network attempt to hoard LINK? Wouldn't that drive up demand? This is assuming that there are users of the network in the first place, by the way. Say, that so and so company is planning to use the ChainLINK network because they'd save millions of dollars when utilising smart contracts. They want to keep using it for a period of time, which is why they'd buy a stack of LINK. Etc. etc.

>>10982066
Meh, like I said here >>10980848 I think anons who count on significant income from running nodes are being overly optimistic. What are you actually doing running a node? You aren't providing an API or a data source, you're just routing someone else's data into a blockchain. Saying you're getting "a cut of the API economy" is a meme. Anyone can run a node, it doesn't require any significant ongoing work (so NEETs can do it), there's no barrier to entry at all, and if it offers risk-free income node operators will quickly saturate the market and drive the prices you get for your API calls down to the cost of electricity and your internet connection. You might be able to make a little bit in the early days, but if the network becomes successful it won't last.
>>10982100
Yeah, it's possible.

>>10978899
Checked twice for good measure

>>10978899
I like how this propaganda piece has reddit formatting/colors to bait all the retards coming here

Close your eyes, try to clear any thoughts you are having
Take long, slow, deep breathes and put all your focus and attention onto your breathing
iiiiiiiinnnn.................... ooooooooooooouuuut

good. Do this for a few minutes, then -
VISUALIZE yourself becoming rich through your LINK investment
ANTICIPATE the things you will buy with your new found abundance of wealth
IMAGINE as though it is all happening now in the present moment, for the present moment is all that truly exists
MOST IMPORTANTLY
FEEL the way you will FEEL when that moment comes and you make it!
FEELING THE EMOTION IS MORE IMPORTANT THAN JUST VISUALIZING THE IMAGES!

Now open your eyes, look in a mirror, and recite these affirmations (use/add your own that is relevant to the reality you want to create once you make it)
I AM RICH
I AM WEALTHY
I AM A MILLIONAIRE
LINK HAS GIVEN ME INFINITE ABUNDANCE
It's important to do this when you wake up and before you go to bed, but do it as often as possible. Also hold the image and idea of us making it and LINK being worth $1,000 or more in your mind as you fall to sleep.

WHEN WE DO THIS COLLECTIVELY MY LINK BROTHERS, THE UNIVERSE WILL SEE TO IT THAT CERTAIN EVENTS, PEOPLE AND CIRCUMSTANCES WILL ALIGN AND BE ATTRACTED TO US - THAT WILL ALLOW OUR DESIRE TO MANIFEST INTO REALITY!
I love you all

>>10983257
you are a MANIAC

>>10982296
It's literally a reddit thread screencap

>>10981386

Assblaster even typed the way a gen-x aspie genius lady would talk

>>10978899
>thinking ChainLink will get 1% of an 82 trillion dollar bond market
That's pretty delusional desu

>>10984071
This, only 1%? Get real op, we're gonna be capturing the whole fucking thing

>>10983490
dude... SO ARE YOU
you are in every fucking thread saying the exact same shit

"the definition of insanity is doing the same thing over and over and expecting a different result"

God dammit another mongoloid thread please put the name of your scamtoken in the OP for my filters you drooling retards.

>>10982207
What if I am supplying a realtime nasdq, ftse or euronext cash market feed?

Lick my asshole anon.Lick it with your dry tongue

>>10979078
jej man lmoa

Could you lads name some Crypto Price Predictors?
I know it's all speculative as fuck and no one really knows shit, but still, I'd like to aggregate the LINK predictions for fun.

so far i've only got:

http://www.megacryptoprice.com/chainlink-forecast-price-prediction

>>10978899
>the 1% fallacy
https://www.inc.com/erik-sherman/the-1-percent-fallacy-that-trips-many-entrepreneurs.html

>>10978899

>>10985552
fuck off

80k august 2019

>>10985214
>If there are 10,000 companies in an industry, yours would have to be in the top 10. Even in a market of only 100 companies, given an often seen power law, you would have to be in the top 19.
There aren't even 19 oracles projects, much less decentralized ones and with the connections Sergey has. They basically have first mover advantage and already secured the best banking, legal, e signature and api allies possible in this market. 1% is fud.

>>10984698
What difference does it make? You'll pay for the feed, then try to charge a small markup for relaying the data. Same as for any other feed, nothing stopping someone else from undercutting you. You're dreaming of getting loads of free money for doing virtually nothing, it's not going to happen.

>>10983555
It's not. I made it in MS word and stuck some cubes on it in GIMP.

Screenshotted the FUD in this thread to trigger future suicides.

>>10978899
nice fud, its 1000$ eoy

>>10979311
checked
we /madeit/

>>10981779
>2000 posts by this id
You need to get a life

>>10987615
You need to go back

>>10981970
Yes?