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/biz/ - Business & Finance

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15772724 No.15772724 [Reply] [Original]

I'm new to all of this, but from what I gathered chain link seems to be the popular choice around here. I see so many people talking about it so I decided that it must have been a safe bet.

>> No.15772733
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15772733

Yes fren $1000 EOY

>> No.15772759

Good now go find a job to earn back your $5k
Er just in case heh

>> No.15772770

>>15772733
Checked. Keep accumulating Op, also get some LP shares.

>> No.15772797

>>15772724
Should’ve bought Quant instead dumbass kek

>> No.15772934

>>15772724
based late comer. you will be happy with your decision.

>> No.15772944
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15772944

>>15772724
The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

So....

Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that.

There is infinite amount of collateral available because the token price can rise to meet it.

Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.

Is 1000$ really possibly in say the next 3-4-5 years?

>> No.15772958

>>15772724
The 90/130 iq link holder meme is true holy sit

>> No.15772966
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15772966

>>15772958
high iq oldfag reporting in

midwits will NOT make it