/biz/ - Business & Finance

It solves the Lamborghini problem

>>13802904
Niggers. Niggers will give chainlink value.

IT makes rich people richer and make poor prople poorer

>>13802904
nobody will answer your question OP, it has no value

The token is designed to create wealth

>>13802904
It has electrolytes.

>>13802904
Tokens were for fundraising. In the past two years, every 'token value' shill has been blown out by obvious arguments. You don't even need the token to use chainlink nodes.

>>13802904
It's really too bad they don't have something like a website with colorful pretty graphical explanations for grug brains and a very detailed whitepaper for those wanting to understand it more fully. In the whitepaper Jason Parser explains why the purpose of the token is defeated if it is worth more than a dollar or a cup of coffee though, don't follow all these deluded retards into losing 20% of their money and never having anything excited happen beyond some swings between $0.70 and $1.30.

>>13802904
hype for the most part. chainlink will launch on the main net without the deposit and penalty system (aka staking) so really there will be nothing giving it value while simultaneously the team will be disbursing tokens used to incentivize the ecosystem. now is when everyone should be taking ample profits because link is in for another bear season until news about staking starts coming out, probably months from now.

>>13802992
This. As far as I can tell the token has no actual function..
Someone please prove me wrong

>>13802904
The token needs to have value to be sufficient collateral for the smart contracts it provides data for. If the token is very cheap, you need millions of LINK to handle high value contracts. Very few people can afford to run a node, and those that do have no real incentive to give accurate data. As a result, the entire network is less useful. The goal of the project leads is aligned with the goal of the investors. High value LINK = high value contracts = more nodes capable of high value contracts = more secure network = more high value contracts = higher value LINK. Thats the gist of the singularity.

>>13802904
"oracle" connecting to data and real world data outside of the blockchain and then connecting it the blockchain

>>13802920

>>13803047
>>13802966
>>13802920
>>13802904
Payment for access to the link network.
Rewards for node operators acting in good faith.
Staking for collateral value of contracts.
Need more?

>>13803047
You are completely correct. I can't believe that we didn't pick up on this! Just about to sell 100K

>>13803047
Oh fuck. How did I never see this? Selling all my 240k brb.

>>13803105
OK, sure. But the value is all relative. If I run a Weather Data node I’ll earn tokens in exchange for providing accurate, reliable data. But whether I charge 10 tokens or 100k tokens seems insignificant. Sure, I’ll create my contract accordingly depending on the market value of the tokens at the time I create the contract, but the underlying asset is only propped up by the market price, correct? There’s nothing backing it besides the dollars funnelled in

>>13802997
>$1.30
your pasta is getting cold

>>13802904
>>13802992
>>13803008
>tfw Chainlink makes LINK obsolete

Think of the token like a membership card. It signifies you're part of team linkie.

>>13803105
I guess it depends on how much LINK it takes to operate a node

>>13803178
What's the point in holding any LINK tokens when Sergey owns 65% of all tokens and can undercut all of you and dump on all of you at any point? ChainLink is HIS, not your's. Did you really think you'd get rich off a centralized shitcoin like this?

>>13803105
The biggest lie told on this board. I mean no fault to you, you're just drinking the Kool aid from the white paper. This collateral/penalty payment system will not work. It doesn't even make sense. What's the point? Just use reputation as a penalty. 1/10 nodes misbehaves the contract still gets executed properly, so why is one node coughing up money and more importantly where does that money go? To the contract originator? Why it executed properly, he's happy. No one ever has an answer to this. They just quite the whitepaper like it's somehow going to magically work but it makes no sense.

>>13803178
I understand the token has to have some value to incentivize node operators, but I see no reason or need for the value to escalate past a certain threshold. i.e. .$25 is probably enough value

>>13803195
I know you’re joking but maybe you shouldn’t be

>>13803198
The value of the dollar is relative too.

>>13803242
Yeah Chainlink tokens are like jugs of water, and when they get to $25 they are full.

>>13803347
kek

>>13803178
>Payment for access to the link network
no company is going to go through the crypto hoop to pay a middleman
>Rewards for node operators acting in good faith.
where are those rewards coming from?
>Staking for collateral value of contracts.
you put up a collateral, deal goes through, you get collateral back. so what? you do it for free?

>>13803347
I’m not saying the value can’t go higher, but the network doesn’t need it to for it to function. There’s not exactly a shortage of these things (and couldn’t they just program more at any time?)

>>13803444
Uh... no. The supply is capped so that they don't become worthless, otherwise the node operators would have no incentive to support the decentralized oracle network.

You... have you read the white papers my dude?

>>13803444
Yeah literally anyone can just type [sudo more linkies] into the command prompt and create more tokens.

>>13802979
It's what NEET's crave.

>>13803198
who is paying for data from a neet's weather node again?

>>13803483
But hypothetically what if a single address held all the tokens. Wouldn’t the network shut down instantly unless they programmed more?

>>13803498

>>13803444
such a wasted get.
so here is the quick run down.

buy link
question why you bought
sell link
hate youreslf forever.

litchurreealy all of the questions your asking have been answered time and time again for the last year plus. im sorry your new so a lot wont take the time to let you know. the needs of the network are going to FAR exceed what you are currently thinking. the value as a result will scale. that is the fast info lite version

>>13803530
In a hypothetical situation, if one guy decided to buy up absolutely every single coin, it'd basically be exactly what would happen if you had one dude who owned all the money in the world.

It'd become completely worthless.

It only has value when it's being traded.

>>13803444

gosh, i guess you are right. there is no reason for this token to rise in value.

i really thought there was something about the tokenomics that would really increase the price of LINK. But clearly no one here has shown that. All its good for is to pay for data. I really thought there was something else.... something else that would make this a $1000 coin. hmmmm what other attributes could that be????

I just can't think of it. I feel like this was a big scam all along. wow. time to market sell.

stop feeding the fucking newfags and go back to fudding
i swear these people feeding newfags are slightly less newfags who fomo'd in at $1

What is the realistic prediction for maximum $ price LINK can achieve, considering market cap and other factors?

>>13803622
I don’t think it’s a scam but seems overvalued

>>13803697
after reviewing charts of tokens with a similar circulating supply, the current rsi of link vs capital between bitcoin, alts and stock markets, the lack of a viable competing project and studying community awareness through the ratio of link mentions vs other projects on biz, reddit, twitter, youtube and instagram, i have calculated link to be worth $1000 by end of year

>>13803703
then sell and move on. im sure half of the people in this thread will snatch them right up.

>>13803894
Thanks just bought $100k

>>13803894
>350 billion $ market cap
I asked for realistic, not whishful wanking.

>>13802904
They increase your node's reputation. More LINK staked in your node means more people are going to use your node.

>>13803936
thank sergey later
>>13803946
then you have to go back

>>13802904
> You hear about link
> You buy link
> You become gay
> Your being gay gives strenght to your belief in link
> You buy more link
> You become more and more gay
> Your being gay is completely satisfactory on his own, even if you don't get laid
> You decide to buy more link
> You become extremely gay
> You start being embarassing in public, your friends don't answer your calls anymore
> So, you decide to buy more link

>>13802904
everyting is going to be ok
we all going to make it fren

>>13802966
Its actually designed to do the exact opposite.

It's a mix of memes and low-IQ gamblers.

Price of LINK = x0 + x1*memes + x2*low-IQ gamblers

It's a simple multi regression problem and I am currently creating the model from data posted on this board to predict future price.

My simple model with little training data have so far been able to predict price movements with an 87 % accuracy and I'm making good NEET bucks atm.

>>13802904
holy fuck OP after two years we've never once thought to discuss the token utility wow pack it up boys its over

Linkies will only ever tell you the tokenomics were discussed ages ago rather than answer your questions. This is because they can't actually answer your questions. Linkies are the dumbest posters on this board and they'll lose everything.

>>13804012
It's a vicious cycle

>>13802904
buy link sirs
billions and billions of dollars EOY
unlike matic

(buy matic too)

>>13804242
if linkies want their investment to increase in value they will need Brainlets like me to buy in. So, it would behoove them to be able to shill for it beyond having a $1000 eoy prophecy

>>13804464
Actually wrong. Your typical crypto yes, chain link is not typical

>>13802904
This thread has gone on long enough
Shut up OP Faggot you ask to many questions.
Link exist to make us wealthy that is the only thing you need to know

###13803946

not even worth a (you)

>>13803530
>But hypothetically what if a single address held all the tokens.
Literally impossible, as he went to buy more and more the price would keep rising exponentially, he wouldn't even get close to owning them all.

>>13804242
you're right we have no idea. Two years and we never thought once about the tokenomics. We really don't know. Its fucking over SELL SELL SELL!

>all code is public on link github
>chinks will steal this and make a better version within a few months
>stinky linkies btfo

You're'll npcs

>>13804962
LMAO this pic is now legendary

>>13804943
You can't explain them can you

>>13802979
Toppus Kekkus

>>13805013
No I cant dude. I have no idea. It has literally never crossed my mind in two years. Its fucking over.

>>13804946
>Chinks
Doing things "better"
If better for you means cheaper and of greatly inferior quality then of course. Not that link is really worth much.

>>13803232
He doesn’t. 35 to find continued development and 35 to node operators or whatever it is. Read the fucking white paper.
>>13803377
My cost basis is .31. I will be plenty pleased with $25. But as we’ve seen with crypto we typically vastly undervalue the runs they explode on.
>>13803242
>>13803377
ChainLink enables fiat payment gateways. Problem 1 solved.
Rewards come from the 350 m allocated tokens if you read the whitepaper you’d know this. It only makes sense they be restaked to allow for higher collateral.
Last point... again, refer to rewards system for providing consensus verified data

>>13802904
node operators are paid in LINK. smart contract owners or users need to buy LINK so they can get inputs from the nodes.

for example, a casino smart contract would need to be loaded with LINK so it can pay the nodes each time it requires a random number generated for a poker or blackjack game.

>>13805176
>>Rewards come from the 350 m allocated tokens
But aren’t but all these tokens in exchanges or personal wallets? How can they act as payment for data when they are possessed elsewhere?

>>13805211
350 released in the ICO. Of the 650 held by Sergey, ~300 are meant as reward tokens for node operators. This is spelled out in the white paper. Very easy to verify.

>>13805197
>>13805211
So linkies are basically holding smart contract purchasers for ransom, forcing them to buy Link at market price if they want to be able to pay a node operator for data?

>>13805255
Thank you for info. Yes I need to locate the token distribution totals

>>13805258
That or whoever decides to stake large collateralized nodes

>>13805273
I believe it’s section 5.5

>>13805258
the 650m in sergeys control is to give away to institutions so they dont have to sign up to chinknance to buy millions of dollars worth of LINK on a 2btc withdraw limit.

>So linkies are basically holding smart contract purchasers for ransom
the price is irrelevant, a node will be offering a RNG at a fixed amount priced in USD. say...5c per number. LINK can be 1$ or 1000$, the node will only demand whatever equates to 5c worth of LINK.

fundamentally just want to remind that
LINK token is erc20 utility token that will be used to pay for Sergeys vaporwave json parser service
and the most fun part:
free trustless json parser loaded with additional plugin features already exists:
https://jsonformatter.org/json-parser

>>13805315
Yes but the higher the price, the easier to monopolize in ways. This is for legacy banking ustems after all. We’re all cashing in on the Jews winning more

>>13805320
wrong. it also parses HTTP. it stands for "HYPERTEXT TRANSFER PROTOCOL" so you know its quality shit.

>>13805342
I suppose. im too brainlet to think about the longterm outcomes.

>>13802904
All the endless shilling makes retards FOMO into it and drives the price up, which drives more FOMO. Without the biz shilling, it's as worthless as anything else.

>>13803237
is this new fud?

A heavily utilized link network would mean that the majority of the tokens are rapidly taken out of circulation, used either to stake nodes to secure better better paying smart contracts, or held in a reserve by smart contracts themselves to pay nodes for their services. We should see an arms race among node operators, who roll their link payouts back into the staking pool so they can stay competitive for high value contract selection.

With widespread smart contract adoption and market maturity, a single link token should be worth approximately $792/token.

Good luck.

>>13802904
it powers smart contracts without it smart contracts are useless, smart contract have unlimited use cases and they save money in each one of these use cases. unlimited use cases equals unlimited money saving, for a limited supply of link equals infinite value of link

>>13805706
Yea because the shilling on /biz/ accounts for a 500million marketcap LMAO.
DELUSIONAL!

>>13802904
The ChainLink network utilizes the LINK token** to pay ChainLink Node operators
for the retrieval of data from off-chain data feeds, formatting of data into blockchain
readable formats, off-chain computation, and uptime guarantees they provide as operators. In order for a smart contract on networks like Ethereum to use a ChainLink
node, they will need to pay their chosen ChainLink Node Operator using LINK tokens,
with prices being set by the node operator based on demand for the off-chain resource
their ChainLink provides, and the supply of other similar resources. The LINK token is an ERC20 token, with the additional ERC223 “transfer and call” functionality
of transfer(address,uint256,bytes), allowing tokens to be received and processed by
contracts within a single transaction.

Here ya go fag

>>13803237
The payment incentivizes new and continued usage. If theres no money on the line,why would anyone want to be involved with the project? Its decentralized remember?

>>13802904
It has $0 value because it's already been patented by satoshi & the meme's have all been copyright claimed.

>>13804054

>>13804464
Wrong fag

>>13803178
>Payment for access to the link network.
How does this make sense if 1 token is ever $100 or $1000?

>>13808127
18 decimals, you can buy 0,0000000000000001 link

>>13808156
Thanks for clearing that up

>>13808169
Don't believe the decimal fud anon you have to buy full links and not fractions

>>13803178
Why don't they use ETH? Genuine question from someone still reading through the whitepaper

Its a scamtoken you nigger, ever thought about dyoring

>>13803658
sorry that was me, but everyone I try to tell to buy LINK just laughs at me calling it a scam so I get it now. I don't want these retards to own LINK I am now a FUDer