/biz/ - Business & Finance

>>21746561
fuck this thread is yaawwwwwwwwwwn holy shit. im out selling all links.

>>21746561
interesting question
but everyone who would want to or be able to help left about 6 months ago

>>21746561
https://twitter.com/chainlink_alert/status/1296344370317328384?s=19

>>21746607
thanks anon

>>21746561
this?

>>21746621
no fren go on bloxy

>>21746657
nice one

>>21746561
So this supposedly means Chainlink has more activity/transactions for actual usage than for trading/speculation...

But is there any way to know who is making all those transferAndCall transactions? Is it traceable? i.e. who is this party using Chainlink so much for its actual purpose?

>>21746607
What's genius in this scam is that to get their subsidised linkies, the other developers in on the scam have to at least run this function and create false traffic. Genius

>>21746707
I assume it's mostly just the price feed heartbeats

>>21746707
price feeds oracle requests. chainlink is the crypto that pays the most gas on eth.
this is fucking amazing knowing that usage can only go up from here

*yaaaaaaaaaawn*

Funny how yawning is contagious. Man I'm so tired... aren't you guys too? Going to tuck in and have a nap.

>>21746756
>chainlink is the crypto that pays the most gas on eth.
this metric will be useless after they have threshold signatures working

>>21746732
>it's a scam because it works exactly as they said it would and all parties benefit

>>21746607
Holy shit, that means Chainlink has more functionality than speculation.

> transfer and call
> Literally just another erc20 placeholder scam

>>21746873
> it's a scam because it's Sergey providing the linkies for free

ftfy

>>21747029
You mean an erc 677.

>>21747050
>it's Sergey providing the linkies for free
>for free
Nope, see pic.
Users have to pay to use Chainlink.

Also, Sergey is the contract operator, and contract operators are supposed to provide the linkies as payment.

>>21746646
So the price is actually increasing with the number of transfers?

>>21747092
Who are they paying though? Sergey or the node operators? I didn't think payments were expected to start until staking is introduced. What is the purpose of the token at this point if they can just pay for the oracle service?

>>21747241
That chart shows all transfers.
At one point Chainlink trading volume exceeded that of Bitcoin, not even ETH ever managed to do that.

>>21747092
Vitalik the CEO of the Central Ethereum Committee downgraded LINK from ERC 677 to ERC20 don't forget that.
Vitalik has the power and doesn't eat burgers. Just let that sink in

>>21747092
Thank you for confirming that Sergey is indeed making the payments

>>21747366
Sergey controls the printer that goes bbbbrrrrr. Giving pajeets monopoly money to run a certified botnet is not "making payments"

>>21747273
The users pay Sergey, the contract operator.
Sergey pays the node operators.

The Link for the node operators comes from the 500k "dumps" from the dev stash.

>>21747366
>>21747418
Sergey owns the restaurant, he has to pay the cooks and waiters.

Users want to eat, so they have to pay Sergey.

>>21746657
Only approvals? So no real live examples of how it works and what happens on a disapproval yet?

>>21747498
Wow an analogy that assumes the restaurant is a closed system disconnected from the larger world.
In reality the restaurant is closed due to corona virus and Sergey has to whore himself out the back in a homemade glory hole to make ends meat. The users are now coomers and the waitresses were sacked long ago. It's just a one man sucking machine.

>>21747577
>Wow an analogy that assumes the restaurant is a closed system disconnected from the larger world.
Chainlink contracts are closed systems.
The contracting parties, terms, purpose, outcome, ... are all specific to the individual contracts.

>>21746561
The link run is over I'll have to decide later today if I will take my loose and just sell off what I have

>>21747604
Then you're right anon, it doesn't matter what is transacted within a closed system as long as tards believe it has value. No wonder the schizos love link tokens: belief underpins clown world Sergey Bucks.

>>21747462
Then what? The node operators have to sell the link on exchanges to transfer it into USD? Or does sergey buy it back OTC?

>>21747462
What's a contract operator 's job, besides writing the script? Does he keep a part of the fees?

>>21747462
"Yes you guys should enjoy this layer of decentralization we've given you but btw trust this one guy to pay out that layer for you"

>>21747671
>it doesn't matter what is transacted within a closed system
haha k bro

>>21747681
They can do whatever they want with them.
For now holding is by far most profitable.

>>21747720
The point would be to make money.

Right now Sergey is running the contracts for Aave, Synthetix, ... but once the network matures then parties like Aave or Synthetix could be running their own contracts and paying the nodes themselves.
Or not, depending on what works best.

>>21747789
That's what being a contract operators is about lol.

The contracts aren't decentralized, they are whatever the contract operator wants them to be.

>>21747671
Oh come on, this is no crazier than a festival where you have to exchange your dollars for little festival coins and you can only use those coins for buying the drinks. You’re all “guess what your little tokens have no real value!” failing to realize they are essentially just theater tickets sold to people who want to enter the theater. In this case people want access to reliable data streams for their smart contracts, and buy tickets for that. It’s not hard.

>>21747681
> and what will the miners do with the bitcoin, will Satoshi Nakamoto buy it back OTC from them?

>>21747883
lmao

>>21747832
From reading that, the part about not using eth because the volatility of the asset may not work in their favour, how is this affected by link currently being very volatile? do they expect link to eventually be a form of stable coin? or how would they control the volatility to only act in their favour?

>>21747855
Checked. Now this is a much better analogy. We're all going to burning man with Sergey. Isn't there pasta of this. Kek

>>21747919
>how is this affected by link currently being very volatile?
Link's volatility is largely dependent on what happens to Chainlink. What news there is, adoption, etc.
Hence the three-year uptrend.
Once things like staking are in place, the price of Link will be largely determined by network usage (total collateral requirements etc.).

>>21747832
Anon do you know why volume for many projects including LINK AAVE HBAR and BTC but not ETH spiked in April?

>>21747919
I think he means he doesn’t want the price of the token used to suddenly go down for some reason unrelated to the operation of chainlink, i.e. Vitalik fucks something up and eth dumps, making chainlink nodes go broke. I don’t think he means he expects it to turn into a stablecoin.

Holy this thread is peak newfag

Absolutely disgusting

>>21747832
Thank you but I was wondering what value does the contract operator provide, besides writing the contract. Looks like it's the nodes doing the job, I must be missing something...

>>21748122
>what value does the contract operator provide, besides writing the contract
>Looks like it's the nodes doing the job

Karl Marx, go to bed.
The contract operator creates the work for node operators to do.

>>21748007
No, they're saying that even if link is volatile, the vol will be due to link's market dynamics, hence services prices will adapt accordingly

>>21748161
>Karl Marx, go to bed.
based and monkeypilled
https://www.youtube.com/watch?v=rxhPI-ACYSk
$1000 eom its monke szn

>>21747323
How do they do transferAndCall then?

>>21748122
Umm, what value a contract does have? What value would a trustlessly executing contract have?

Have you ever had to do business and worry about counterparty risk?

>>21748316
They can't until Vitalik gives his approval and personally certifies the LINK token (fat chance)

>>21748542
So eth is centralized?

all people from plebbit in this thread: you shouldn't post for the first three months you are here, just read
jesus christ some of these posts

>>21748607
All methheads worship Vitalik so yes. It's simp syndrome

>>21747985
why

It's so cute how you all are giving Sergey the benefit of the doubt lmao. When Sergey sells I sell. It's that simple.

I learned this in 2019 when link hit 4 dollars then crashed to 1 dollar. The smart con shit is gonna be a flop. Trust me. Yes I believe in chainlink long term. But singularity won't be for many years.

You are all going to be disappointed for not taking profit as well.


Smart con shit is bullshit.

Sell on the 27th of August and thank me later

>>21748359
Sounds like lawyer's cope. Your days are numbered scum. People actually adding value by retrieving data, maintaining their node up and running, and risking their capital by staking will reap the benefits. Not some guy that wrote a contract once and didn't do anything else after that.

>>21747919
It will stabilize once it reaches $1000 EOY, it's volatile because it's still in price discovery period

>>21749310

>>21749310
>HISSSSSSSSSSSS
>TRUSSSST ME