/biz/ - Business & Finance

>>21996917
Supply and demand exist. The price will go up if the product is good. It’s a simple rule

>>21996917
Cringe token not needed fud

>>21997869
>Asking questions is FUD!

Crazy. Is LINK unironically a scam?

>>21996917
>>21997922
Fuck off newfag, not going to spoonfeed you. Read up on collateral and token price and fuck off

>>21996917
N

E

W

>>21996917
>Warning: "the derivatives market is worth a lot" is not proof that Chainlink tokens should be worth a lot.

Hmmm, how much collateral (in LINK) would be needed for that I wonder?

Fucking newfags should be executed.

>>21997945
that's the best you're going to get in terms of guidance at this point, OP...your elementary questions have been beaten to death so many times, you should legitimately be ashamed by your lack of ambition (and volition, to an extent).

may god have mercy on your soul, OP.

Haven't you been watching Smart Con? Sergey literally said that "the tokens represent more of an ideological commitment to the ideals of smart contracts than they do a financial function. Think of Chainlink tokens as a more of a club membership than an investment".
They're literally not designed to have monetary value. Personally I'm all in.

>>21998045
top kek

>>21998002
lol so it's as simple as "people will need billions of dollars worth of LINK tokens as collateral"? Seems dead obvious LINK is going to $500 billion+ marketcap in that case, why isn't everyone all in LINK right now?

>>21998110
Because "everyone" is fucking retarded and mindless sheep.

Your question should have been: "why aren't all of you all in on Chainlink?" and even then, the answer is "we are, you stupid fuck"

>>21998110
cause its a completely retarded assumption that two parties setting up a derivatives contract would need to go and buy some erc20 shitcoin in huge quantities.

>>21996917
As more tokens are locked up in staking, there are fewer in circulation. Links are needed for contracts. But there is now a shortage of link on the market -> number go up
> what is supply and demand

>>21998193
I've thought this as well but presumably it's going to be streamlined in some way such that they don't actually directly interact with LINK tokens at all

>>21997922
Yes, please don't buy.

>>21998193
Yes, you're right, that IS a completely retarded assumption.

>>21996917
derivatives markets are worth a lot, and chainlink node operators need to stake a large amount of money in order to be able to provide data to derivatives smart contracts.

>>21998267
locked up somehow in someway, don't worry about it duuude. Quadrillons, man, quadrillions, did you see it ? buy now goy!

>>21998110
>Seems dead obvious LINK is going to $500 billion+ marketcap in that case, why isn't everyone all in LINK right now?

Congrats. You got it. Plenty of detail on this topic in the archives.
It’s a new technology, and we are early adopters. Some people are just ahead of the curve. Laggards like yourself have failed to understand the potential of link, so you Better answer your own question

>>21998307
too bad I already did in March. I'm still not completely convinced I'm not profiting off of some bitconnect-tier shit with a cult attached to it

>>21998110
Right now it is a prisoner of Fibonacci numbers and Elliott Waves that are followed by bots that are run by whales. There are no fundamentals until a new player buys in OTC and causes a liquidity squeeze.

>>21998373
>Some people are just ahead of the curve.

You are so smart bro, so intelligent. You are a genius.

>>21998373
Could you actually livestream yourself sucking your own dick? I'll donate a LINK token, maybe even two.

>>21998403
I mean, I’m the one who realised the answer to your retarded question three years ago and consequently am now rich AF while you seethe about it. So yeah i would say OG linkies are smarter than latefags

>>21998444
seething nolinker, fucking beautiful

>>21998451
I'm sure you are anon, you are so rich. Imagine how rich you'll be when LINK is $1k. You'll probably be a billionaire, maybe even a trillionaire? If your'e already rich when it's only $16... damn

If only we had more smart people in the world like you. The world really missed out on your great potential.

>>21998473
I bet someone who posts things on 4chan like "I'm rich AF" and "seething nolinker" is indeed very rich. You sound extremely intelligent to me for sure. Definitely ahead of the curve.

>>21998484
>If only we had more smart people in the world like you.
Have you failed to notice that biz is now full of smug linkies with 5 figure stacks? There are plenty of early adopters here. Laggards like yourself are seething.

>>21998484
Holy fuck delicious seethe

>>21998110
>why isn't everyone all in LINK right now?

Do you even realize the barriers for "everyone" to invest in link?

0) You need to have money to invest.
1) You need to understand what crypto is.
2) You need to be ok with investing in crypto.
3) You need to understand what altcoins are.
4) You need to be ok with investing in alts.
5) You need to find out about chainlink.
6) You need to understand what chainlink does (>> you are here)
7) You need to believe that the the token is undervalued (probability of success * size of success = not properly priced in).

>>21998380
Apparently you missed a couple steps on my list... but congrats. You'll make it if you don't sell too soon.

>>21998531
>>>21998473 (You) #
>I bet someone who posts things on 4chan like "I'm rich AF" and "seething nolinker" is indeed very rich
You had 3 years... Could’ve been one of us

>>21998584
Enjoy your riches, anon, you are very rich, and intelligent.

>>21997013
How is even Supply and demand related to Chainlink?

>>21998594
Your posts in this thread have been very pathetic lol

>>21998601
it will when staking is live because you hedge link

>>21998607
Should I larp as a wealthy genius on 4chan, would that make me cool?

Guys, I bought LINK at $2. I am SO fucking SMART, dude I can't even believe how much fucking smarter I am than everyone else. Everyone is so stupid, and below me. And to top it all off, I'm rich as hell now, because I bought Chainlink token when it was only $2.

You may now suck my cock.

>>21998193
Yeah what the other guy said. On the front-end most users will likely have no idea they’re interacting with link. They’ll just know they put usd or whatever currency they use in their country into a smart contract portal, purchase a pre-coded smart contract, adjust whatever parameters are required, and be on their way. It really wouldn’t be anymore complicated than downloading and playing whatever retarded steam game is popular right now.

>>21998625
We aren't larping. You just need to accept that you missed out on an incredible opportunity and move on with your life instead of making depressing cope threads like this and replying to every single person that calls you pathetic.

>>21998403
I mean most of us are already up 30x, maybe some really are ahead of the curve?

>>21998625
>larp
I didn’t expect that my babby 5 figure link stack would be considered a larp so fucking soon but here we are boys and it’s fucking hilarious, seething nolinkers give me life.

And what makes it begger? They still won’t buy in... not until I dump on them at $100. Kek

>>21998666
Ooof, I’m Satan now?

>>21998373
>>21998444
i would also throw in one, perhaps two link to see this.

>>21998660
>$2
Try $0.20

>>21998016
That was more than he deserved.

Chainlink is nothing but vapourware that's been pumped up and memed to create a huge hype bubble. The company has ZERO revenue and ZERO paying customers. There are one BILLION tokens and they're not even needed for anything. It is the definition of a speculative bubble and ponzi scheme. Linkies are going to lose all their money and I can't wait to see the suicide threads when that happens.

>>21998703
>>21998660
I’ll send you 50 link to post sharpie in pooper with time stamp.

>>21996917
>12 posts by ID

>>21998709
Spoonfeeding uppity latefags should be punishable by death

>>21998110
Lol yes it is that simple anon. And the day you found out about this was the luckiest day of your life.

>>21998561
there also aren't that many large amount link holders from three years ago.
some of these people like to believe they knew what they were doing from three years ago but really they just bag held and got lucky.
Plenty of people also held bags of OMG and other shit from three years ago and are literally still in the red.
That's the nature of crypto.
But please don't kid yourselves into thinking you're fucking smart.

>>21998666
Yes exactly, the set up the smart contracts and then the data providers input the data into the smart contracts themselves. There is 0 need for some stakers to acquire copious amount of link. If the smart contract needs a price feed or something of that sort, there is already 10 different oracles which can supply that outside of link, its really not rocket science. The whole idea of link stakers somehow buying trillions worth of link to participate in the derivative market by protecting data input into the derivative smart contract is hilarious.

>>21998907
>they will call us lucky
Cope

>>21998934
I really hope you have other things going on in your life that validate this idea that you're this "super smart ahead of the curve guy" other than the fact that you bought Chainlink tokens early

>>21998934
I bagheld ETH from when it was sub 10.
I could have easily bought some other shitcoin from back in those days and made jack shit (DGB comes to mind).
Congrats on getting rich though, not hating at all.

>>21998990
holy laggard cope

why do you need to use link as collateral when you can just use whatever native currency that the smart contract deals with?

>>21998934
Depends, I'll admit I'm not crypto smart, I'm just good at figuring out bullshit on this site and followed the memes. Worked for me.

>>21998907
>>21998934

>>21999097
guess that's a no kek, hopefully the price doesn't go down since I'm pretty sure your entire identity and self-worth is based around it

>>21999202
you sound really butthurt for someone holding link, is it like a baby triple digit stack or something?

>>21999240
I can't own LINK tokens while also hating stupid faggots? I don't see how those two things contradict each other

>>21996917
Because it is collateral. Collateral needs value or else it isn’t collateral.

>>21998933
Right, so no one here actually can give an explanation why very large amounts of link would be needed given that larger amounts of stake don't increase security and competition would offer a cheaper product. Just as I thought.

>>21998907
>some of these people like to believe they knew what they were doing from three years ago but really they just bag held and got lucky.
Cope.

>>21999279
You figured it out, bro, congratulations!

>>21996917
Why does it need a token? Why does anything need tokens? Are they essentially a scam to get around offering equity in your business for a % of ownership when raising funds? Just invent some magical token and say everyone needs it then sell it, boom you raise funds without giving away anything

>>21999148
Like the way I'm thinking about it is that chainlink uses the token as collateral to pay for the oracle fee for the node operators. What if you just hold the oracle fee in the smart contract though?

Lets say that a smart contract has $5 and say $1 oracle fee in it. The oracle feeds the data to the smart contract to release the $5 to where its going and the $1 to the oracle node operator pool.

Is there another reason why the token is needed or is it just for collateral?

>>21998666
Are you my brother? Whats your nationality we could pass as bros dude. I'm not posting my picture.

>>21999279
Why the fuck are you replying to yourself you utter samefagging pleb?

>>21999468
It’s not actually me. Just told the op that posted that I’d put it in other threads and now I’m following through.

>>21999263
Thank you for making this thread. I used to feel bad about getting in late at 50 cents, but now I know you exist, that you’re out there somewhere seething, and that has made all the difference.

>>21999500
> Why the fuck are you replying to yourself you utter samefagging pleb?

>>21998907
you had 3 years
>>21998660
literally seething

>>21998907
>they will call us lucky

>>21999500
Well I do it because I had a thought and then the thought continued but no one replied to my question so it makes more sense to do a continuation of my post.

>>21998193
>what is a node
Fucking retard

>>21999730
exactly. But by the lack of any meaningful replies, it seems like no one here is any actual clue and just blindly believes the memery

>>21999874
I just want this question answered

>>21999378

I've done research and now I'm trying to ask the community about it and I'm getting no replies

>>21998625
holy fuck nigger do you hold link or not?

>>21996917
IF i bet you 1000 dollars that i was going to eat my hot pockets tonight versus 10 cents that I would fly to milan this evening, which statement would hold a greater value?

>>21998907
>they will call us lucky
And the prophecy has been fulfilled.

>>21996917
I always wondered that too, like why won’t chainlink as a company make a discount or lower the price so those of us who are new to link can afford it.

>>21999917
It’s collateral and rewards. the Only collateral recognized by the network is the link token. The only staking reward recognizedby the network is the link token.

In before
> but what about....

No. Shut up. It’s definitional. It’s by design. This is basic shit anon. Now go read the white paper because you clearly didn’t.

>>21999378
sometimes I think I'm retarded. then I read posts like this.

I love this shit. You faggots are so mad.

Thanks for this thread OP. This is the best cope I’ve seen in a long time. I can’t believe there are still people on this thread who haven’t figured it out and are begging to be spoon fed. Yes, I know why link will appreciate in value, and no, I will not tell you. Keep seething

Its nice to be early all in Link. If only to witness the no linker syndrome in action.

>>21996917
based and redpilled. the truth is that link's tokenomics are shit.

>>21998193
Why would they do that rather than just pay an amount in fiat and let the service provider exchange it for link (or more likely use their pre-existing supply)?

Nonody can seriously still be asking these retarded questions in earnest at this stage.

>>21996917
PLS SOCIALIZE MY CRYPTO DADDY FED

>>21996917
You are a fucking brainlet.
Do you understand the law of supply and demand? This is the most basic theory of economics.

And you want people to argue with you? Is this some sort of meta bait?

I hate how smug and mean everybody has become. Nothing like 2018.

>>21998601
1. Because the node operators are paid in LINK, so anyone wanting to get oracle data must buy LINK
2. Collateral staking, meaning the node operator must have $1 million worth of LINK locked to process data worth $1 million

>>22000916
I know right? This sub is not so welcoming to newcomers it seems, but that won’t stop me from coming here lmao ¯\_(ツ)_/¯

>>22000916
1. Our stacks are in 6 and 7 figures.
2. We've been laughed at for 3 years
3. Not many people still feel like spoonfeeding the same technical shit for the 100th time to retards who don't even bother to read the whitepaper

>>22001006
Just pointing out how much we've changed since getting rich.

>>22001051
We haven't. It's just back in 2018 everyone was reading whitepapers and digging at github and pivotal and sharing with eachother. Now there are retards like OP who just come here and want to be spoonfed on basic shit like "hurrr durr what is token for" and want to be talked into buying LINK. We don't give a fuck about retards like OP buying link. DYOR like we did or stay poor.

>>22001051
>>22001136
speak for yourself, not everyone here is as privileged as you time-wise and can visit here everyday and check project discussions, we actually have lives and jobs to do. How about giving back to your community huh? Ever thought of that?

I have no idea what link is or what it does or really anything about crypto, I'm just buying it because the government paid me $600+ every week to buy it.

Thanks for reading my blog

>>22001171
What are doing here, aren't you going to wagecuck tomorrow? Go back to your cagie wagie.

>>22001171
I’m a nulinker, bought in at $4.50-ish and I wish I had come to /biz/ sooner too but you sound retarded anon. Giving back to the community? Lol. As far as I can tell the “golden days” of link research were full of fud, trolls & smugfags—even more fud than now. I’ve been going through the archives reading as much as I can about link even now. The information is there, all you have to do is pick up the fucking spoon. I work 50+ hours a week as a wagie. Time isn’t a good enough excuse.

>>21996917
How have you not yet forgotten how to breathe with such a room-temp IQ?

18 decimal places

>>22000184
Yes, I understand that its collateral but you didn't answer my question of WHY. Why can't the collateral be the native currency running through the smart contract? And why are you giving me such an attitude about me asking the community a question?

>>22000195
Can you explain why though? I'm just trying to understand, why are you so rude about me asking a question?

>>22001953
Dyor

>>22002029
I did, then I reached this part in my research where I couldn't find the answer. This is part of the research process. I can't find the answer anywhere, that's the issue. You guys don't seem to have the answer either. The most troubling aspect of this is that its appears to be a really simple question, yet it can't be answered, and my next question would be "why is that?"

Do you perhaps know the answer to that question?

>>22001953
Fuck off newfag. Yes I can answer your question. No, I won’t answer it. You had 3 years

>>22002204
why not just go all in PRQ now anon? is it possible you don't understand the advantages of bi-directional (entropic)homomorphic messaging? The enterprise version eevn supports full duplex txn signing for higher throughput but it's very new and Parsiq are at the cutting edge of it! This is the next 1000x anon don't roped

>>22001953
I’m debating if I should give you an honest answer here. You have to realize over the past 3 years we’ve had this same question asked and answered. If I answer you another one will come with the same question tomorrow.

Give me your best personally drawn Pepe in paint and I’ll answer it.

>>21997945
>>21997869
>>21997013
>>21997986

Correct. Dont spoonfeed the newlinkers. If they're not smart enough to understand the most basic facts about the project and its tokenomics on their own--- or they can't bother to search 3 years of warosu archives of daily, intense, in-depth LINK discussion---- they don't deserve it. I'm not even being elitist or looking down on people for being dumb, OP is just being lazy. I'm amazed at how some people immediately demand explanations for pretty basic stuff before they attempt to read about it fully. There so much fucking discussion out there about how token price relates to usage, collateralization, and scarcity

>>22002254
Here's a custom made pepe

So why can't you just do a situation like I described in >>21999378

>>22002771
Ok.

The Chainlink network needs a native token because the payment to node operators needs to be directly tied to the value of the network. If the network used the Ethereum token, not only is there no way to properly judge the valuation of the network, but also the network is at the mercy of Ethereum. If there’s volitility in the tokens price, at least with its own token it’s speculation on the future networks value and not speculation on Ethereum itself. Let’s say hypothetically chainlink was up and running in 2016 around the time Ethereum had its infamous DAO back and subsequent hardfork which sprung the creation of Ethereum classic. Imagine half the node operators wanted to take payment in ETC and the other half in ETH. Do you see how issues could arise here?

If a stable coin were to be used, again you would arrive at the same issue of the network being at the total mercy of another project. You need the tokens value to derive directly from the utility it provides. You cannot have it derive from another networks or be at the mercy of another network. This is all without mentioning that LINK is an Erc677 with a transfer and call functionality. Using a stablecoin/ETH and it would loose this functionality.

If it was the case that it would be superior to just use ETH, then why would any erc token exist? Why wouldn’t every defi project just use Ethereum for payments.

>>22002130
We don’t give a shit what you think. Spoon feeding phase is over.
figure it out for yourself, don’t buy, or buy and shut the fuck up

>>22002771
>>22003278
Read this at least 10 times before asking another question

>>22003278
useful person
>>22003387
scuz

>>21996917
Why have you decided to call out link here when your logic could apply to the majority of the crypto market?

>>21996917
December 2017 called, they want their FUD back.

why nano why

>>21996917
Not if 1:1 collateral on staking is a thing, and Huxtable more or less confirmed that, if its true then links marketcap by definition has to be equal to or greater than the value of the contracts that it feeds data to.

>>21996917
these types of threads are heavy buy indicators

>>21998907
They will call us lucky
Love it every time

>>21996917
Why do you retards ask so many stupid questions before understanding the basics of economics first?

You're basically asking how an asset with a limited supply that could earn someone a passive income based on a percentage of the cost of the total amount they hold will increase in value? Isn't it fucking obvious?

>>22001225
you did great anon. really, you did.

>>22004287
The passive stream will not be from %

>>21998380
Anon you need to take them beautiful gains and get the fuck out now. If you don't know anything about the coin, get out of it. Never buy into something when you haven't researched it, read the whitepaper, and looked into the background of the team behind it. All these shills would love for you to stay in though so they can bagdump on you eventually.

>>21998601
Chainlink has a fixed supply.
Node operators get paid in chainlink.
Node operators only sell enough link to maintain their node if any at all.
Supply gets drained.
Speculators put link away into their cold wallets.
Supply gets drained.

>>21996917
The reason I have a suicide stack bought under $10 is some smart anon took pity and explained when I had the same question.
I will not be able to explain as eloquently, but basically a higher token price means node operators with a certain amount of link would be able to put up collateral for more expensive contracts. A high price means Chainlink has a greater reach, can afford to take on more smart contracts, making link in turn more valuable. It turns into a positive feedback loop where nodes make link more valuable and link makes nodes more valuable.

>>21997013
>divisible to 18 decimals

>>21996917
why do people assume link tokens must be inexpensive just because the technology is good

>>22000141
You can afford it. You can buy fractions of link. Doesn’t matter what current price is, if you think it will 10x you would 10x whatever you put in. Having certain amounts of link is pure memery for people who think % and adding zeroes to numbers is somewhat hard.
> 1k is suicide, 10k is make it
If mr make it sells at $1,000 and mr suicide sells at $10,000 they make the same. Of course, mr 100k whale sold just 10% at $1,000 and is stinking rich at $10,000, but frankly they deserve it, they invested well.

>>21996917
He doesn’t know basic supply and demand. Go read a fucking book before you come on biz you brainlet

>>22001237
> true neet doesn’t know tomorrow is Sunday.

>>22003278
Good explanation, but
> callAndTransfer
I was under the impression that being an ERC20 token link could only send itself (rather than eth or other tokens) in callAndTransfer, which is another rrason they have to use their own token. Did I misunderstand this?

Fucking faggots don't remember how much link Marines were shat on. It's a pain to have a coin do literally fucking nothing for months even tho it's amazing tech. This is why we made it