/biz/ - Business & Finance

>buying one of the hundreds of teams that will use chainlink
hello pajeet

>>16559912

>>16559912
Chainlink is only the #2 eth gas burner in the network. Wakeup. Theres already a handful of companies tapped in to the chainlink network and a dozen more are about to hop on shortly, like within a month.

Keep your eyes peeled and dont miss the bus.

>>16560031
Name some of them. We all bought link for the promise of massive institutional use, but it's becoming more and more clear that that isn't happening overnight. It took 6 months just to roll out some feeds other than ETH-- I can't imagine the promise of doing this on every smartcontract platform happening in a timely fashion, much less big companies using smart contracts.

Link is a big part of making defi something useful rather than another shitcoin meme. Synthetix is a completely fucking ridiculously undervalued project.

I missed out on the sick early gains because i was waiting for market protocol to roll out. I'd been watching synthetix but didn't realize they had their own collateral token but didn't bother really deep diving until AZ16 bought in....

I put a little into mintr then fomo'd in with a lot after I realized how big the rewards were. I'm skeptical of any shitcoin shilled on this site so I just ask anons to put $10 in this shit, stake for a week, and then make a decision.

The best part of this shit is that you can sell link, stake snx, then use your minted Slink to claim SNX rewards while keeping your exposure to LINK.

>>16560440
All you have to do is look at the service agreements and the feeds. Growing weekly. and its growing FAST.

Synthetix is one of the companies using Chainlink. so why fight it. Why say no one is using Chainlink when the success of Synthetix depends on Chainlink

You can invest in individual companies sure. But the fact is, ALL these companies including Synthetix wont work without Chainlink.... I should rephrase that.

All these companies wanting to move hundreds of millions in value depend on Chainlink. they can move small money but when the value gets high they have all decided to integrate with Chainlink. That includes ENG even. So, If Chainlink fails so does Synthetix. SNX was already hacked once.

Also, yeah, you can invest in SNX and mint sUSD and by sLINK but you can only buy less then 20% sLINK of what you are staking in SNX. for example $1000 staked SNX to $200 sUSD to then buys $200 worth of sLINK.

Thats a terrible set up considering you have to maintain a full 5 to 1 ratio. So if SNX starts to drop or LINK starts to moon or drop your forced to either sell/burn or buy more SNX and hit repeat.

>>16560440
This anon gets it. There’s a bigger play here.

>>16560561


But, I agree. Theres gonna be some good plays. SNX is one of them.

What we are going to witness in 2020 for Chainlink is what ETH did for crypto in 2017.

Its very simple. ETH birthed ICOs and a ton of coins came out and mooned and blew up the crypto market. Were a lot of them better investments then ETH during 2017? yeah. you would have made a ton of money playing shitcoins. But ETH was the mother of all these coins and ETH did moon all the way to $1400.

This is whats gonna happen with Chainlink. It literally is the supporting architecture for all the relevant crypto projects. including SNX. Money will start to flow in to projects that make sense. They will moon just as SNX is doind but in the END the big money will be going into Chainlink because like ETH, it is the backbone to Defi, insurance, AI, and predicion market projects. Without Chainlink it doesn't work. Just like without ETH it didn't work for projects in 2017.

Chainlink is the easy $1000 ride. Everything else will do the normal 20x to 30x but picking the right ones is the hard thing. chainlink is the sure bet.

>>16560620
Doesn't this also mean link will tank like ETH did?

>>16560693
inevitably it once will. The amount it's reaches before it tanks is the real question.

>>16560620
>Were a lot of them better investments then ETH during 2017? yeah.

gas costs are not the same as needing collateralized link to secure data, dumbfuck. you need more LINK to secure a higher-cost contract. you can't say that for gas.

>>16560620
SNX mooning is a lot more digestible for me than link mooning. I agree that it'll be the open source standard for connecting data to smartcontracts, but I think anons are GREATLY underestimating the time it will take for anyone outside of crypto to use this.

SNX tokenomics are the best in the game and it's not even close. This is why it is not dumping. Like I explained above, you can dump some of your link into snx, stake it for rewards, and then get back into LINK either through sLInk or using your Susd as collateral for link position tokens.

What SNX brings to the table are derivatives with the properties of ERC20s. And they solved the liquidity problem, you don't have to worry about exiting you positions because liquidity is guaranteed on chain.

Whatever the 18th brings I'm pretty sure that ISDA and co will be playing catch up. Open, permisionless networks are the future. SNX is the clear leader in crypto based derivatives and network effects will fucking destroy any competitor with a similar model. The game is already over before it began.

>>16560620
>the normal 20x to 30x
It's crazy how much my perception of money and investing got warped by crypto that this could ever be called "normal"

>>16560440
>It took 6 months just to roll out some feeds other than ETH
6 months of perfect data integrity, zero fuckups. Stay impatient, niggerbrains

>>16560693
ETH dumped because of BITMEX. A lot of its retrace was motivated by the desire to bankrupt ICO's for various reasons. LINK won't suffer such a dramatic retrace unless the team wants it. Why would they?

>>16560811
>LINK won't suffer such a dramatic retrace unless the team wants it.

i'm a bull >>16560735 but this is just retarded. it's not called "accumulation" for nothing. there will be laggards, and they will want in. what goes up to $1000+ on a parabola must come down.

>>16560847
I'm not talking about your ball.

>>16560861
Was that supposed to be a joke? Cause >>16560847
seems correct. Simple logic.

>>16560861
correct, I'm talking about your ball. you'll be dancing and sipping on the endless champagne as the clock strikes 27 o' clock.

>>16560811
ETH is dumping because of shit tokenomics. I use ETH all the time to pay for computation on the Etheruem network.... I use synthetics several times a week, as well as uniswap, kyber, and fulcrum..... how much Eth do you think I need in a year?

The supply and demand argument is retarded. Maybe Eth will pump in the future, but a high price isn't needed for utility

>>16560735
>need link to secure higher-cost contract
Completely not true desu. Staking is irrelevant to correctly executing a high value contract. You need various data sources to secure And correcty execute
at a high level of redundancy for top value contracts. the Amount of link you put into a contract only rewards the node operator in retrieving the data. But if you have a faulty data source and A node operator successful retrieves the faulty data source, your contract has been compromised.

>>16560747
>Snx won the derivatives game before it begun
Based. Snx has carved out it’s niche. We have front row seats. Our job is to tell the difference between a winner like SNX and some shit scam like BOMB.
>>16560811
>Link retrace
Our tokenomics is simply based on speculation and supply and demand. We have no tokenomics.
>muh reward node operators
This is the most retarded shit and probably where we can get burned in the long run. Think about it, these node operators are being hand picked by the Link team, and the link team is maintaining integral updates on the node operators. It’s not a fully decentralized system. We, link, offer the best solution for now. We can tank for various reasons in the future. It’s not a 100% win yet. Best bet is to make small bets with great projects that come along like SNX

>>16560747
>
SNX IS the clear leader in crypto based derivatives. But Chainlink is the leader in FIAT based derivatives play.

See, the beauty of Chainlink is that it is set up to support ALL of the crypto pbased derivative projects including SNX AND the projects that are happening outside of crypto. Forex trading, fiat derivatives, etc.

So not only Will Chainlink benefit from a healthy SNX market. But they will benefit from a growing fiat derivatives market that is moving towards Smartcontracts. The chainlink nodes are already running fiat pairs in Forex. When it happens, it will happen fast.

>>16561173
>Completely not true desu. Staking is irrelevant to correctly executing a high value contract. You need various data sources to secure And correcty execute
at a high level of redundancy for top value contracts. the Amount of link you put into a contract only rewards the node operator in retrieving the data. But if you have a faulty data source and A node operator successful retrieves the faulty data source, your contract has been compromised.

way to write a paragraph to obfuscate and talk around what was said entirely.

you are a stupid faggot.

>>16561173

You forgot to add,

If a faulty data source was retrieved and sent to a smartcontract. the node LOOSES their LINK creating a collateral based tokenomics system for LINK. So yes, a higher cost contract most likely will use LINK in order to function.

In the last meetup with sergey in San Francisco The question was posed.

"Can Chainlnk handle a 1 billion dollar contract" without hesitation Sergey said "without a doubt."

When the same question was asked by 0x there was hesitation and they said "id have to look into that"


bascially when it comes to high value contracts Chainlink is gonna be used. Thats why there are currently over 100+ chainlink integrations. and everyone that said they didn't need Chainlink a few months ago are all now bending the knee.

>>16560910
i am still waiting for someone to argue against this point. about the most solid argument i can see for ETH gaining value is that silver and gold are valued far higher than their practical use case would imply. so there is a precedent for that happening.

>>16561173
>Completely not true desu. Staking is irrelevant to correctly executing a high value contract. You need various data sources to secure And correcty execute at a high level of redundancy for top value contracts. the Amount of link you put into a contract only rewards the node operator in retrieving the data. But if you have a faulty data source and A node operator successful retrieves the faulty data source, your contract has been compromised.

way to write a paragraph to obfuscate and talk around what was said entirely.

you are a stupid faggot.

>>16561173
>his is the most retarded shit and probably where we can get burned in the long run. Think about it, these node operators are being hand picked by the Link team, and the link team is maintaining integral updates on the node operators. It’s not a fully decentralized system.

The network can't be launched decentralized. But it has to be like this for the path to a fully trusted decentralized network can be created. Let me explain it for you and I don't know why some just don't get it.

Heres the reality. if all of crypto was created de-novo and no data/api providers existed before the advent of chainlink, there would exist an equilibrium at which SYBILL attcks would be more profitable than delivering quality data or outputs. If this was the case, there are ways of breaking this state, but they involve exchange of value first in a non-deterministic manner and then using the experience from that to bootstrap an oracle network.

fortunately, before crypto the world did exist. This let to a trust system being developed to regin in this situation ( lawsuits, reputation, the value of name recognition) in a world of non-deterministic interactions. For Chainlink this is an absolute blessing.

The network will launch with actors providing APIs and data that are linked to real world names and practices. This means that even outside of a sybill equilibrium, there will be significant pressure to have high quality inputs and outputs. A bank can't expect to keep its good name if it makes a habit of screwing its smart contract customers while keeping good practices with its standard customers.

From here, the team can then decentralized the network but at first as stated above the network needs to be backed by high quality KNOWN data providers to make sure it is sybill resitant and trusted amongst the users.

>>16561442

See, what you fail to realize that its not about the decentralization that Sergey and team are focused on. Its about the security. Security, security security....security is the number 1 focus right now for Chainlink because real data users depend on the oracle netowork to handle high value contracts.

if you start of with a decentralized network and it fails badly due to sybil attacks and game theory hackers the whole network fails and starts from zero. Meaning all of crypto including SNX is held back. Starting off with high value known data providers is the only way to move forward.

>>16561471
i basically get the impression that no one in crypto understands or likes chainlink because they're all used to building a bunch of bullshit that does not have to exist in reality or align with any existing laws. so chainlink, which is making every effort to be useful to actual existing revenue generating industries, is completely foreign to them and looks like a scam.

>>16561501
100% based.

People haven't quite grasped that Chainlinks focus as been about Security, Auditability and Compliance. Why?

Cause Sergey comes from a VC background. He is focused on bringing Smartcontracts to the real world, main-street, the global markets. not only crypto. Crypto projects like SNX just happens to bennifit. But people need to ask themselves where the real money is at. Hint:Fiat (again sergey has a VC background)

Thats why people in crypto can't really wrap there heads around what Chainlink is trying to do.

>>16561570
Interesting thoughts guys. My impression is that Chainlink will lead a paradigm shift from where the utopia of absolute trustlessness will be replaced with a sense of varying degrees of trust.

How much trustlessness do you think is required for X? How much are you willing to buy?

>>16561595

Based anon reply.

By the way....

something is about to happen. Assblaster disapeard and we 10x. Now, LINKANON has disappeared but it was foretold.

Things are about to get exciting.

>>16559912

People who are impatient about the pace of Chainlink use blow my fucking mind. It's so obvious that building the network will be a slow process. People aren't just going to start putting multi-million dollar derivative contracts on a network that's been out for less than a year. It's going to be incremental progress, maybe with a few more big pumps from announcements. Just be patient you adderall-riddled idiots. Pray the network keeps *working* like it is now, if it does then link's rise is inevitable.

>>16559912
>ten cents has been deposited into your account

>>16561383
Know your Link

>>16561471
> TEE + Mixicles > decentralized oracles
t.mixiclepilled

>>16561377
Checked.

>>16560440
all those words but not 1 IQ point

>>16561595
And where is trust needed the most?

>>16561832
So it’s a JSON parser?

>>16560764
It’s because we aren’t (((accredited venture capitalist investors))). Those kind of gains can be made there too. Once something goes public it’s only a 3-5x if it’s outstanding, and that’s over a decade.

>>16560847
Except with eth icos were dumping like crazy, link is different because it is meant to be held in nodes staked.

>>16561765
That was a LARP. Why would link anon be sergey

>>16561914
t. The future Rockefellers and Carnegies

>>16561926
don’t think Link was suppose to be held in network stake. Think like ETH, with simply holding it, it will go up in value, because it is used in the ecosystem (staking, gas, etc). Link, like ETH, will hold multiple value sets. Kinda like oil. It can have value in various forms. SNX happens to be the first full electric carnival (that we know of) to be working. Welcome to the Clown World.

>>16559912
Hi ChainlinkMarket, go kill yourself you Indian fuck.

>>16561332
>SNX IS the clear leader in crypto based derivatives. But Chainlink is the leader in FIAT based derivatives play.


Yeah, you're a typical post mainnet top buyer that doesn't understand this shit. I honestly feel bad that you guys will get rich, because at least sergey does.

Fiat based derivatives? Do you even have any idea what the fuck you're talking about? LMFAO. You totally miss the point of LINK and crypto as a whole.

Permissionless derivatives based on ETH is a whole new world. SNX found a way for whales to trade against a debt pool rather than a counterparty. What the fuck are 'fiat-based derivatives' going to offer that can compete with that? How is a link based options contract (presumably not on eth because they're FIAT based) going to work? You don't havea fucking clue and were somehow lucky enough to FOMO in based on other anons hard work.

>>16561378
just like the link bagholder anon i replied to, ETHcucks have a very similar problem-- tons of retards with no idea about the vision of Ethereum fomo'd in hoping to get rich without really understanding the big picture or the details. 'Muh supply and demand they'll say' but nobody needs to fucking baghold a lifetime's supply of ETH to use the network, and if anything, scaling will make it even cheaper to use.

>>16562261

You sir are a full blown idiot.

Fiat based derivates vs ETH derivatives. Your an idiot if you think the value is comparable.

Let me ask you big genius. Even if Synthetix complishes its goal of tokenizing every asset on earth and has a fully working crypto derivative market who the hell is gonna cross over and decide to trade sAAPLE instead of trading regular apple stock.


See what you idiots can't comprehend is the Quadrillion derivatives market is Fiat valued not Crypto. Crypto is nothing compared to the global derivatives market. Gimme a break. This is why Crypto is not yet trusted because of idiots like you thinking that somehow people are just gonna decide to hop into crypto and use a SNX exchange. like really???? some people have still not even heard of Ethereum and yet you want them to trade a synth asset??

Your an idiot if you think volume is gonna magically come into the crypto space and just to trade tokenized assets.

Synthetix was built for Crypto gamblers that is all. that market is nothing compared to regularoty compliant markets.

>>16562495
Bro-- i was stacking links when you were still balls deep in VET.... I'm fucking laughing at RN talking about 'fiat based derivatives'.

You don't understand the basics of what you're talking about. You got lucky as fuck that some kinds hearted anon got you into this shit.

You want to know why someone would trade synthetic Apple rather than holding apple stock? One, because it's permisslioness, so anyone got get it in a crypto wallet. Two, because there's literally no orderbook so whales can buy as much as they fucking want without affecting the price. Three, because you can take it across a fucking border in your head. 4, because smart contracts reduce friction, and an open source decentralized system littteraly charges you ETH GAS TO EXECUTE A TRILLION DOLLAR ORDER YOU DUMB FUCK.

I could keep going, but if you have an IQ above 50 you can see the big picture.

The question you should be asking is 'how are legacy institutions going to keep up with this shit, much less be competitive with it while complying with regulations?'. This is how I became more bullish on SNX than Link..... because all the institutions still have to deal with meatspace boomers while immutable smart contracts on Ethereum are unable to be censored.

This attitude reminds me so much of the pathetic reddit cucks praying for a bitcoin etf or bakkt to pump their bags. Learn what a goddman derivative is you fucking retard.

>>16562609
> there's literally no orderbook so whales can buy as much as they fucking want without affecting the price
how is profit/loss reconciled? what is the backing that determines price, and how does that interact with generation of arbitrary amounts of a particular asset?

>>16562609
Based as fuck. Aware.

>>16562495
Only burgers can buy apple stock. Why synths you can do this from anywhere in the world, from India to Ukraine, right from your phone or laptop . If you don't see how this opens I don't know what to say.

>>16562609


Your whole thread completely tells you how inexperienced you are within the financial markets.

reasons 1 to 4 still give the regular trader no reason to fly into crypto trading a synthetic. Absolutely ZERO reasons. Do you really think people or institutions will throw money into an UNREGULATED market against the will of the government that they pay taxes to and then try and claim those profits out of that unregulated market? You sir are a full blown idiot. I mean, Why would anyone want to cross boarders trading synthetic equities? Your nonsense keeps on going.

Talking about people jumping the hurdle of actually getting into crypto JUST TO TRADE friggen Synth. That is laughable. These people don't even know what a hard wallet is and you want them to trade on an unregulated derivatives exchange focused on tokenized assets? jeezus, might as well get out the Magic cards and tell them they can make money on it.

There are whales that want to trade synths but they are crypto whales. Until there is regulation surrounding synths there will be no BIG BIG money going into that Synth exchange because they stated themsleves that Synthetix will stay UNREGULAteed. Give it up. Outside money going into crypto just to trade a Synth gold asset is a dream you guys keep telling yourselves to feel better about diversifying out of LINK.

Yes, Fiat based derivatives was used in comparison to a crypto based derivatives for comparison sake. jeezus the state of crypto is sad.

The goal was and always will be to create smart contracts that replace real world manual processes. For brainlets like you that means a Chainlink supported smartcontract architecture for the derivatives market. REGULATED derivatives market. Everything else is peanuts and that includes Synthetix. Even though LINK supports them too.

>>16562651
Smart anon is smart for asking the right question.

The native token serves as collateral, every derivative has 750% backing in the native token (and eth colalteral is being introduced to counter the Fud).

All traders go against the debt pool. So you can cash out your tethers, coffee futures, or equities against the pool at market rate (determined by link oracles from mutliple feeds) with no orderbook and no spreads. So those holding collateral (called minters) are like the house at the casino. The economic system benefits those who keep there loan properly collaterized (ie if the house takes a big loss, you put money in) and claim inflationary rewards (escrowed) and exchange fees. Right now, if SNX price stays constant (it will keep going up) and volume stays the same (protip--it's going parabolic) exchange fees come out to 17% annually.

It is possible for the debt pool to get justed (if the derivatives moon), but as a minter if you mirror the debt pools composition you will never lose out.

>>16562707
>he goal was and always will be to create smart contracts that replace real world manual processes. For brainlets like you that means a Chainlink supported smartcontract architecture for the derivatives market

Ok what's the going to look like and what benefits does it offer over an eth based system like Synthetix?

>>16562707

And again for all you brainlets.

Synthetix stated their goal is to stay unregulated. that means your dealing with Crypto money and nothing more. Everything else you tell yourself is dream.

And this is coming from a heavy SNX investor. I believe that it will pump. But keep your dreams in check. know your market and SNX market is for crypto holders. Don't be sad about that. Its just the truth.

>>16562744
What is a good price to get in for SNX, it’s basically non stopped pump doesn’t really look safe

>>16562715
>It is possible for the debt pool to get justed (if the derivatives moon)
why?

>>16562756
>What is a good price to get in for SNX, it’s basically non stopped pump doesn’t really look safe


Get in now. 85% of SNX supply is staked. 2% is on exchanges. Thats why it keeps pumping. Its traded thinly so most likely SNX has a lot more to go. Like a lot more. It will happen fast. but if you are not staking, then id keep a finger on the sell button cause it won't take much to drop it price as fast as its going up. Again, this is an illiquid play.

>>16562771
Put less than %1 of the fiat value of your port in right now. Go to Mintr and colalterize. Claim your rewards on wednesday and it'll answer your question for you. There will be no pullback because the economic ecosystem has been attacked from every angle is very robust. Nobody wants to dump because we get paid USD every week for holding it and the system keeps you actively minting.

Just try it and you'll see. Use the susd you mint to either buy slink or go long link or fulcrum.

>>16562715
Thanks for the explanation. So the "orderbook" is supported ultimately by
>delta value of debt pool relative to dv of outstanding synths and thus competence of stakers in maintaining adequate collateralization (i assume this is all relative to the dollar for simplicity?)
> general demand for collateral tokens taken out of the debt pool during trade reconciliation
raises a few more questions if you don't mind answering: will there be an incentive to stake SNX vs. other collateral types, and when will synths be accepted as collateral? i want to see this thing become the highest stacked nothing sandwich ever witnessed

>>16562756
if you're a whale just get into sETH staking on uniswap and build a stack that way. otherwise, I donno, on a day when it dumps 8-10%

>>16562771
other reply was meant for >>16562756
>2

Because minter's are taking the other side of every trade. In this scenario, you're Arthur Hayes because you're providing the collateral for other people to trade with. So if everybody in the debt pool is holding Link, and Link does a 10x... then you get just'd. But if you're also holding Link, then you're safe.

>>16562756
but really, the big big play is LINK. It is the ETH of 2020. People can talk about SNX all they want but guess what. The success of Synthetix depends on the success of Chainlink. And 2, Synthetix will not be the only synth dirivatives platform. They are the first but the frist of many to come.

Chainlink is the wifey you come home to. SNX is the side piece that you smash. There will be others but you always go home to your wifey.

>>16562805
On incentives: only snx gives rewards, eth won't give rewards

I'm doing uniswap pooling with the sUSD I mint and ETH, should I switch to ETH and sETH? What's the best move here biz?

>>16562834
Jesus dude stop fucking posting you're absolutely retarded. Stop fucking posting and go back to /r/crypocurrency.

> The success of Synthetix depends on the success of Chainlink.

Chainlink just has to work. You can easily reverse that argument and it would probably be more true.

>ynthetix will not be the only synth dirivatives platform. They are the first but the frist of many to come.

Hurr durr companies will just build their own oracles..... that's how you fucking sound. First mover advantage is crucial if you're software is open source. What added efficiencies are competitors going to have? Lower ETH gas fees?

I fucking hate nulinkers.

>>16562878
I buy slink with the susd kek

>>16562881
>Chainlink just has to work. You can easily reverse that argument and it would probably be more true.


Ok genius. This is your opportunity. Reverse the argument.

How is Chainlink success dependent on Synthetix. What protocol does Synthtix offer that Chainlink MUST use.

Im waiting.

>>16559912
I know this OP is linkie fud, but tbqh I'm getting a bit worried that LINK won't hit $1000 eoy - there's only 16 days left.

>>16562805
You can trade synthetic dollars on uniswap for other ERC20's like USDC, so it's purely locked in the exchange.

The 'orderbook' allows you to buy any amount of synths without slippage at whatever the oracle says the price is.

But you seem to have the brains to really digest the math of how it works-- there are a few smart guys that have been making bank running arb bots.

There are a lot of drawbacks--- it is not a perfect system.

Will snx get rekt if any synth moons? How will they cover the cost when i got 10k slink and link moons to 1k?

>>16562914
If chainlink feeds fuck up SNX link is finished.
Please answer >>16562734

>>16562943

Exactly, its about the reliability and security of Chainlink. Everything is relying on Chainlink.

Without Chainlink non of your crypto dreams work.

>>16559912
Shut the fuck up acap

I'm gaining rewards every 7 days from steaking SNX and the sUSD minted from it, I pool on uniswap against ETH. Comfy gains on both ends.

>>16562975
He's a faggot, there can be no doubt.

>>16562970
Again, what is the archetecture of a traditional clearinghouse for derivatives that migrates to a Chainlink based system and what do you think the timeline for rolling one out will be :^)

>>16562609

My greatest advice to everyone in SNX is play the pumps but sell quickly cause when they shut this "bucket shop" down its gonna be ugly.

Big money don't play this
Normie whales don't play this
Governments don't play this


That means Synthetix is a crypto gamblers playground until governements decide to go after those that try to make money in this.

>>16563013
>unethical
Get the fuck outta here faggot

>>16563040

Don't get mad. Just know the facts. Play it nicely and get rich.

>>16563049
How can they shut it down, it's based in Australia btw

>>16563013
This is true governments are going to force Vitalk to roll back the chain and delete all the smart contracts.

literal 2013 bitcoin fud makin a comeback

>>16559912
all projects that are similar to LINK will be fused into LINK, we have seen this happen every single time.

>>16560440
>a16z
Got a source to that?

>>16563065
It's not about shutting it down. It's about punishing the users. How are you gonna file any profits?

This alone will make normies whales stay out of unregulated synth exchange.

>>16563131
you bet anon

https://etherscan.io/token/0xc011a72400e58ecd99ee497cf89e3775d4bd732f?a=0x05e793ce0c6027323ac150f6d45c2344d28b6019

>>16562495
>>16562609
you fags are both right

>>16563071
What does Vitalik have to do with Running a Synthetic exchange dedicated in running a market that mirrors stocks and commodities without having to go through any regulatory compliance.

SNX will moon and then everyone will pile back into LINK

>>16563180
Because it's a set of smartcontracts you.... that's the point of smartcontracts, no priveleged party can manipulate them.

You think the feds are gonna mark every wallet that's ever traded a synth? What about dai then? What about tether? It's the exact same thing.

>>16562941
minters will recollateralize or get liquidated, if the market price of SNX or ETH is too low to collateralize the outstanding synths however, then shit seems fucked senpai

>>16563198

Omg the IQ on here is pathetic.

Smartcontracts is the tool. This tool can be used for regulatory compliant processes and non regulatory complaint processes. Guess which one they will allow and which one they wont.

Dude, your logic sucks.

>>16563194
Anon the thing is SNX gives you incentives not to sell--- because you can keep your exposure to LINK as you mint. Right off the bat you can mint 13% of your snx value into Slink or leveraged LInk position tokens. As SNX goes up, you can mint more-- without selling, so you buy more link. Plus, you get exchange fees every week, which you can also use to buy link. My buddy andrew got 7 links last week alone just from exchange fees.

The point is, you can get ownership in this exchange that lets you trade commodities, cryptos, and Forex on a dex with unlimited liquidity. Once they get limit orders and leverage I think the volume will go way, way up.

>>16563221
How are they going to stop a set of smart contracts deployed on Ethereum without rolling back the chain?

>>16563157
OK this is big. Thanks anon.

Snx is on coinspot with $500 buy limits for single orders. They usually do this for low liquidity coins. Wtf linkies

>>16563230
Yes but if LINK moons your ration is screwed. So then what happens. Dont you have to sell it burn?

>>16561595

Hey cool it with the high IQ posts.

>>16563233
Your still not getting it. You must have never made any money to the point you had to file and explain your profits and trade.

>>16562609
This guy fucks

>>16563238
My pleasure anon. Please note that this fucking retard that's so intent on proving me wrong says that "This alone will make normies whales stay out of unregulated synth exchange." right as I'm linking a named VC wallet in it.

I'd recommend putting a little bit of your trade stack into Mintr and playing with it. It takes quite a while to really get a good grasp on the system and it is a risky play, but it's the first mover and has a working product. They solved the tokenized asset problem in a way that massively benefits token holders.

>>16563288
So do I buy SNX or LINK or BTC

>>16563297
Think, Which one do you think has more room for growth?

>>16563268
Why would regulators be more concerned about this than any other crypto? Why is SUSD sooo much more of a shock to the regulators than DAI is?

The IRS does not give a fuck and won't be in charge of enforcing this shit. As long as you pay what you owe, they're not going to give a fuck if you were playing on Bitmex or trading synhetic coffee futures.

The SEC and co can get mad all they want, but you can't do shit about a smartcontract that's already on 8000 Eth nodes. It's immutable.

>>16563288
Oh yeah I have some in and like how it works a lot. Knowing smart money is reassuring to say the least. I think I'm gonna have to double down now ;)

>>16563322
Is in*

Uniswap pools looking good on volume

>>16563072
SNX will
b e n d
t h e
k n e e

>>16563356
You know they are using chainlink oracles.. Right?

>>16563157
Why no LINK in his account?

>>16563360
b e n t
t h e
k n e e

>>16563368

>>16563368
Framework ventures has a big stack of SNX as well and they had a big bag of LINK in 2017

idk if a16z has link or not but I do know their SNX is locked for 5 years

>>16563389
Why is it locked 5 years? Is that a vc thing only? As in making it known they are in for the long run

>>16563316
Your not making sense. Who's making the money. If it's not them, then why would you think they would let you make money.

They shut down all the Cexs to US residents already. Forced everyone including the exchanges to comply. Uniswap has already front run some regulatory aspect by blocking 10 countries. Why..... cause they don't wasnt to get screwed. SNX will be no different. Except they on a whole other level of compliance. We talking mirroring stock and commodity assets and the derivatives.

Get real if you think they ain't watching.

>>16559912
So am I going to make it?

>>16563409
Yup

>>16559912
3k is suicide
10k is comfy
25k is make it

thanks you sergey for leading us to the real moon mission

>>16563404
Making it known.

>>16563408
The IRS did not do that. The can block the frontend of uniswap, but the contracts are there for everybody.

Looks like some faggot from the cocksucking SNX discord linked this thread so I'm out for now. Hope some of you make it.

>>16560807
wrong there have neen some heartneats that stoppped due to no funds in contact

>>16563146
Taxman doesn't give a shit about the source of your money so long as you pay up.

>>16563426
Makes sense, probably a condition to sign before getting the otc deal

>>16562881
wow, gotta jump in here and just let you know how retarded it sounds to say LINK depends on Synthetix.

>>16562609
>how are legacy institutions going to keep up with this shit, much less be competitive with it while complying with regulations?
They (specifically NASDAQ) are planning to aggressively expand into the retail normalfag market

>>16562878


-Stake SNX
-Use the sUSD to buy sETH
-Use sETH to pool on uniswap (sETH/ETH)

>>16563404
thats the cost of buying from the team. Synthetix is treating them like an early investor. They also sold them the tokens at under .10c.

>>16560620

This annon has the biggest brains here.

Calls out the bullshit.

>ChainLink will continue to dump because it has almost no network usage.

Yet, Synthetix is using Chainlink and any other Defi project coming out will also use Chainlink.

Knows the math.

>Also, yeah, you can invest in SNX and mint sUSD and by sLINK but you can only buy less then 20% sLINK of what you are staking in SNX. for example $1000 staked SNX to $200 sUSD to then buys $200 worth of sLINK.

Thats a terrible set up considering you have to maintain a full 5 to 1 ratio. So if SNX starts to drop or LINK starts to moon or drop your forced to either sell/burn or buy more SNX and hit repeat.

How many investors want to lose sleep over a leveraged position trying to keep a ratio of 5:1. If they don't keep it up they will be forced to liquidate and lose out.


Im invested in SNX but lets talk facts. I will NEVER understand SNX retards who try to FUD Chainlink when Synthetix depends on the success and usage of Chainlink.

Actually, I will just tell you.

Do all of you want to know why these SNX retards FUD Chainlink? Its because they know that SNX is the short term bet and LINK is the long term bet. They are hoping to pump SNX and then take those profits and sink them into LINK and ride it to $1000.

prove me wrong.

>>16560031
i have it from a good source that noone is useing the network. Lying like that is retarded. you should kill your self

>>16560440
>Synthetix is a completely fucking ridiculously undervalued project.
idk about that desu, no one is interested in derivatives shit coins when youcould just trade real derivatives

>>16560440
We should have realized institutional use would NOT come overnight. In hindsight, the current timeline makes sense.
We were overeager to imagine these institutions switching to smart contracts ASAP--it's still happening, just gradually until it happens suddenly.
In 2017, everything seemed to happen in a blitz of weeks, it seemed logical to be exuberant

>>16563779
What happened to whales and pros not wanting to touch this shit?

Protip: A bunch of discord trannies called Acap and Del have been shilling this scamcoin for months and now they ran out of discord suckers they will start to spam it here. Don't listen to them they are both like 21 year old incel basedboys looking to unload their bags.

>>16563832
you suck at reading

Im talking about financial institutions USING the Sythetix exchange.

I keep hearing about big money. big money. Well guess what. thats main-street money. bigs, institution. hedge funds. your kidding yourself if you think they are gonna come out and buy sAMZN.

Synthetix was made for crypto. that includes crypto whales.

>>16563850
NOBODY WANTS TO TRADE SHITCION DERIVATIVES EXCEPT PEOPLE THAT WANT TO TRADE SHITCIONS

why cant you understand this? "big money" already is making big money in regular markets

>>16563860

Another genius that can't read. thats exactly what i wrote.

>>16562261
Fuck off SNX pajeet shill

>>16563883
oh shit you're right. I must have clicked the wrong post id. So i agree with you.

tfw bought snx at 8cents sold at $1.4 suck my dick faggots. Guess where im putting my profits? fucking LINK

>>16563929
Wow how much were you making in exchange fees before you sold?

>>16563929
how did you find it? just hand around the defi discord?

>>16563922

based

>>16563966
i was at EDCON sydney back in april, SNX was one of the better projects presented there so i bought a bag.

>>16562734
Lmfao retard, the difference is they are trading with real USD instead of fucking ETH over a secure smart contract network. Nobody wants to buy ETH on Wall St. They want to trade in USD. Christ, fucking peasant

>>16560747
i'm convinced you are a shill... you're saying words that sound smart but you're post is fucking retarded.

N E V E R S E L L I N G

>>16564030
It's weird how they dont get it.

>>16564030
Ok is smart contract that connects a USD price feed to a liquidity pool with provable on chain collateral more or less secure than trusting an intermediary? Is it less 'real' than a bank account.

I agree FIAT gateways into crypto aren't great right now but that'll be solved in 2020, either by link or someone else.

>>16564048
Imagine missing out on the first usecase of Chainlink. If you want to be deluded and think it's literally happening tonight, be my guest. The thing about SNX is that I don't have to dump on you to make money.... if SNX goes up, I mint more LINK. I use the passive income i get right now to buy more Link. It's like owning my own fucking LINK printer.

I bought the LP crowdsale. My SNX makes me way more LINK than my LP does and I don't think that will ever change. Pretty soon I'll have more LINK than I sold to get into SNX,

>>16564084
Weird shilling in this thread from them honestly, probably Discord trannies. Wall St answers to the USD and the USD only. Imagine the world we're going to be living in when we see multi-billion in value smart contracts get rifles across the LINK network for pennies. I'll be there with my cock out, cOOOOOming.

>>16564101
>someone else.
there is no one else

how do you not get that nobody wants to trade on that platform?

>>16564101
>Ok is smart contract that connects a USD price feed to a liquidity pool with provable on chain collateral more or less secure than trusting an intermediary? Is it less 'real' than a bank account.

Don't know what you're getting at honestly. In my mind, the funds will sit in escrow set up by the Smart Contract.

1. Smart Contract is drawn up
2. Funds are rifled into escrow from bank account
3. Once funds are confirmed in escrow, contract goes live
4. Whatever happens in markets determines which way the funds go

Not difficult at all in my mind. And yes, this is far more secure than anything that goes in the derivative world form my understanding.

>>16564122
Keep coping faggot

already approaching $1 billion in total volume with no leverage leverage or limit orders and no link oracles and marketing. No normie friendly front end and 0 marketing.

"Permissionless noncustodial bitmex on Eth that let's you trade equities sounds like a shit idea desu'

LMFAO you had your shot anons

>>16564138
but how does order matching happen in that system?

>>16564189
but i could just trade on bitmex. Where there is liquidity and margin now. And i dont have to mint stupid shit. I could just deposit and trade.

>>16564203
lmfao
unless your country is banned from bitmex or you don't want to kyc for withdrawls or you doing trust literal niggers holding your crypto
you just swap eth for Seth on uniswap and you're in

Plus there's more liquidity on Synthetix anyway, you can literally buy 1 million btc and it won't effect the price, oh yeah you can now buy shares in this exchange at this early stage and you will get money back if you do it

>>16564232
cope

bump

>>16564200
There is no specific counter party. All minters create debt and act as a decentralized house that a trader bets against.

>>16564465
he's talking about how institutions are going to work in this new world where banks can settle smart contract derivatives directly from their bank accounts.

Sounds like an xrp or link holder talking about muh institutions.

>>16559912
Imagine buying people's 30x profits as they cash out slowly.

Skip it and buy UPT under ICO. Then sell your own 30x.

if i were to stake 1000 SNX now, how many SNX would that have earned me by Year Six? 245M tokens total.

https://blog.synthetix.io/reaching-monetary-policy-consensus/

>>16562943
fucking KEK you didn't reverse the argument. You said if chainlink fucks up it fucks up chainlink.

>>16560440
>>16560561
It’s an impressive samefagging but it’s still a samefagging

>>16560620
>>16560561
No one called out this blatant samefagging? Jfc

>>16560561
This sounds like the most byzantine ponzi scheme I've ever heard.

>>16564101
Bruh, if LINK moons while you are staking snx and the ratio is off. What do you do then? Yiu have to liquidate.

This whole idea of investing in SNX while also getting a 20% exposure to a synth asset like LINK is a nightmare scenario. Because LINK is volatile and it will force snx liquidation.


The proper in invstment strategy is the exact opposite. 80% LINK 20% SNX.

See, what you guys already know is that SNX is the first to use chainlink. But there will be others. So you keep investing a little bit in the newer projects that utilize LINK while keeping your largest stack in Chainlink. Since they will all have to go through chainlink.

This is not rocket science. Its rational investing.

>>16559912
Uh oh sounds like a buy buy buy signal to me

Is 10k SNX enough to make it? I just want $2,000 a month to travel NEET in one year.

>>16565790
Wish I could grab 10k snx.. You are set dude

>>16560440
Just hold link bro how fucking stupid can you actually be lmao