/biz/ - Business & Finance

>>21057450
>what the fuck does this token do
its used to pay node operators

>>21057450
right now? it doesn't do much, its used to pay node operators for data feeds

the real fun begins when node collateralization begins, aka "staking"
LINK tokens will be used to underpin every single dollar in value for the smart contracts to which LINK Oracles provide data

>coin

>>21057450
It makes me rich.

>>21057550
does this mean places like zeus capital can no longer just take customers money and run?

>>21057676
you are incredibly stupid. you don't understand even very basic things about what I said in my previous post.
I'm not joking, I hope that you lose all of your money and then kill yourself. Your lack of intelligence is abundantly obvious and it disgusts me.

>>21057725
aww

>>21057450
You guys lack complete understanding of business processes and therefore completely overestimate the potential use cases of chainlink eg smart contracts. You basically believe clearing between companies can be replaced by some lines of code. Ffs you would need lawyers and negotiations just for creating one smart contract before it would be allowed to work between companies. Anything complex isn't simply solved with a smart contract and for anything non-complex no smart contract is needed that would need to be paid for by companies. Anons like to refer to supply chain tracking as good example, do you honestly believe amazon has any bigger problems tracking their deliveries? They don't, and they also don't pay money for that. It's simply handled by company programs and interfaces. Ride the pump guys, but don't be so stupid to believe in the marketing and hold bags.

>>21057992
this. baseline protocol is clearly just a big joke between Microsoft, AMD, EY, Splunk, and countless other industry leaders
they are just messing around guys they don't actually see any utility in blockchain.

make sure to sell your chainlink today. I am looking out for your financial well being.

>>21057550
Lol, no it won't. No company will buy any system where "investors" pre inflated currencies. The best that can happen is that some structure similar to chainlink is eventually taken over by companies which would benefit developers. You are enthusiasts delivering upfront financing, this is even mentioned in the white paper. Pre mined tokens have no inherent value.

>>21058056
Of course there also exist legit use cases between companies for blockchain technology, but for none exists a logical chain that would derive any value for ico tokens of various crypto projects you bought.

>>21058184
what about cocacola?

>>21058296
>>21058184
If only there was a logical reason that LINK tokens needed to be publicly traded assets with value that can fluctuate...

Perhaps to meet the demand of the collateralization requirements of the network as a whole, as it grows over time
no... no that would make too much sense, clearly LINK is a scam and I should sell it right now

thanks again for looking out for my financial well being

>>21058331
You're telling me with flowerfull words
>it's traded via exchange
>it must be great

>>21057450
It makes the people who hold it gain money exponentially.

>>21057450
it is used to massively subsidize adoption so that the creator can get rich by dumping his massive hoard on speculators even though there is clearly no viable business model

>>21058417
You've been BTFO twice. Why keep embarrassing yourself when you can just walk away?

>>21057676
Holding Link tokens doesn't make you intelligent, and it doesn't prevent you from being greedy. Only people who decided to lend their Links to Zeus capital risked anything. That was foolish from the off. Staking will be non custodial, and this won't happen.

>>21057450
>what the fuck does this token do right now?

Secure well over a billion USD in Defi.

Ask T-Mobile, pic related.

>>21058476
Or should I say, lend their Links to Nexo, not Zeus.
Duh

>>21058331
>only a fucking token which the founder keeps 2/3 of can be used as collateral for a smart contract

>>21058184
>No company will buy any system where "investors" pre inflated currencies.
What the fuck are you talking about?

To the users, it does not matter what price Chainlink is.
One token could be a billion USD, and you could still send someone 1 cent worth of Link.

>>21058499
LMFAO $32 eth fee for a json call
yea i expect big things from this tech
holy shit

real talk yall need some AST in ur life. #ASTaladdins #LINKmarines I'm sure AST can integrate LINK price oracles for major pamp.

>>21058557
>LMFAO $32 eth fee
That's ETH, not Chainlink's fault.

>for a json call
Those "json calls" secure well over a billion USD in Defi.

>>21058555
Ok, so the usage doesn't determine the value? Then you tell me it's pure speculation? What is the basis for the price of 9 dollars for a link token? You're slowly wrapping your head around the fact that there's no logical justification to the momentary price tag.

>>21057450
it goes UP

>>21058473
>it is used to massively subsidize adoption
>the creator is dumping

Nope and nope.

>>21058780
>Ok, so the usage doesn't determine the value?
Yes it does, at the network level.

The value of Link has to be high enough to provide enough collateral for all contracts at any one time.

>>21058475
Telling someone that he was btfo doesn't necessarily make you win an argument. You seem to come from a background where one is mostly surrounded by retards.

number go up

>>21058780
which part of "LINK tokens must have enough value to collateralize against the smart contracts that rely upon them for data" do you not understand?

>>21057450
from my experience, if an investment sounds complicated, it's most likely a scam

>>21058184
>pre inflated
Inflation is a fundamentally dynamic concept, the idea of "pre inflation" is nonsensical.

>>21058840
Kek, retard doesn't even know i'm not the person he was arguing with.

JFC, anon, why do you continue to do this to yourself?

>>21058824
And you assess 9 dollars per token as adequate price for this purpose? Understand that i have nothing against chainlink, and some use cases may be legit, but there's no other justification for the momentary price tag than a very mature pump with following collapse.

>>21058475
cause he's the same redditor from the thread last week and he got BTFO then.

>>21058970
Well i said that you like to frame situations without having arguments, which you did again. This may work in disputes between your inbred family but it's not contributing in an anonymous internet forum, so you got anything to contribute?

>>21057497
Run by them

>>21058704
banks have zero collateral for quadrillions of derivatives
why will they be willing to change this model
making these deals actually run smart would be catastrophic for their power and fractional reserve banking in general
they need it murky so the power brokers can change the rules whenever necessary

>>21059181
wtf is wrong with this cunt honestly

>>21058984
>And you assess 9 dollars per token as adequate price for this purpose?

If all Link tokens were to be used as collateral, that makes Link $9 billion.
That is way too low a value.
Doubly so when you know that only a certain proportion will ever actually be available for staking, the rest being held as investments etc.

>>21059271
>why will they be willing to change this model
Because smart contracts, i.e. automation.

>>21058798
>paying node owners 1LINK for every customer call while customers pay .50 USD is not subsidizing adoption.

>>21059317
>paying node owners 1LINK
What?
The example I showed you has node operators receiving 0.16 Link per call: >>21058499

somebody explain it in layman's terms

>>21057550
How much is the data for a price feed worth? Currently all LINK is doing is providing price feed data, which, while cool, doesn't seem to be worth more than the gas that's necessary to get that info.

>>21059972
It's worth as much as the value of the smart contract(s) that require that price feed.
Currently there is 4.51B locked in DeFi.

For every single protocol in DeFi that uses chainlink, there must be an equivalent amount of LINK collateralized against it.

>>21060096
I hear you, but how much is that value in USD per price feed update? How much link per update do I deserve when staking is live?

I get other uses like collateralize a bet or something, but how much is it worth per update? t. All in LINK one way or another

>>21059972
>How much is the data for a price feed worth?
Over a billion USD right now.

>>21060197
that really depends on the revenue that those smart contract(s) are generating
personally, I would gladly pay 10%+ of my revenue to the Oracle that makes it possible in the first place

>>21057450
nothing
and thats the beauty of it

>>21059181
Interesting argument coming from a romanian gypsy

anyone using a better app interface? i'm about to go ape shit

>>21059271
>banks have zero collateral for quadrillions of derivatives
why will they be willing to change this model
Because they have to spend far more money on all the employees to keep that shit running.