/biz/ - Business & Finance

>>24612739
Bunch of 4channers tried to force it as /ourcoin/, during the presale ico phase of chainlink there was a minimum requirement of 300eth to enter the presale. Bunch of anons pooled up together and shared presale links to fill them with their eth.

Coin continued to get shilled and pumped up and hyped for the sibios event that link was attended, whole event turned out to be a flop chainlink had a presentation in a room of like 18 people next to the public toilets, literally no news or partnership came from the event and the coin dumped back to below ico prices and created 1000's of bagholder anons.

Now during this alt bull run lots of anons and took advantage of this and shilling this coin to all the new money and newfags that joined in december and don't know this story.

The coin is HEAVILY manipulated and the supply is dried up from huge whales who accumulated below ICO price to create a artificially lower supply (a lot like REQ) and these people have so much room to dump on all of you faggots to still be in profit when the time comes.

Reliable transfer of data from the real world onto the blockchain. It can then be used in smart contracts. Essentially the decentralization is only as strong as its weakest link, which, to date is off chain data coming on chain.

It connects extroverted data to blackchains using dissected orals

>>24612769
>>24612778
what the fuck does that even mean you bullshitters
what data? why would you want to transfer it? what purpose does that have?

>>24612796
Who won the sports game? A or B? If this can be put on chain reliably you can easily set up a way to bet on it. Same idea works for other industries such as insurance.

>>24612888
so its purpose is a gambling platform for the outcome of sports games?
the outcome of previous events doesn't predict the future
stop using meaningless metaphors

>>24612796
Literally sub 100 iq, you will never understand crypto. Your best bet is investing in coins that have the best memes

Fuck I’m a nufag but cmon OP - how much spoonfeeding do you need - what you should be asking is when is normies and instructional investments going to come in to pump - even still I’m not fucking selling

>>24612903
your bait isn't very fun anymore. mostly replied so newfags can see

>>24612916
nobody understands what that means
real people need to have a real use for something in order for it to have value
if you understood it yourself you would have a coherent explanation
everything has a purpose
a car gets you from one place to another

>>24612739

>>24612796
it's bullshit. It serves no purpose at all lmao. Basically the "chainlink network" can tell you shit that google can, like what the price of bitcoin is, or how many bags of dicks kamala harris sucked, yet you have to pay for the "search" every time you reach through an oracle. That's why it hasn't been adopted by any betting side, financial institution, or anything else in 3 years since launch. This thing is entirely delusion-propped and all the investors in on this matrix either realize it but don't care or don't realize and don't care.

dolars

cups of coffee and big macs

Linkies are fucking delusional, I'm sure some have gone back to their senses by now. The ones still bagholding don't know what the fuck money is.

>>24612962
I'll further add even api3 does the same thing, nothing. We don't give a shit because we're making money. If you're idealistic go pick up crescofin, that coin will actually be used irl.

>>24613212
What should I hold instead?

>>24612739
None

>>24613212
This

>>24613228
Follow the memes and DYOR

>>24612739
Right now, it serves as the backbone for many billions of USD in Defi.

Ultimately, it is meant to serve as the backbone for the next paradigm in mainstream finance: smart insurance, smart derivatives, smart bonds, ...

>>24613257
Based

>>24612903
Let's say you want to bet using your eth.
You don't want to get scammed, and the website you're betting with doesn't want to get scammed either, easy answer is to use CL, and to have a bunch of different people properly choose who won said sports game, and with that information the website can pay you out your winnings, or it can keep it's winnings.
This can also be used in insurance, i.e. let's say that you want to pay your insurance using Eth, with said eth as the payout. You get into a car crash, your car is totaled and now you need your payout. A bunch of people confirm that a crash did indeed happen, and CL greenlight's the transaction.

See? Not too hard to wrap your head around.

>>24612758
Ask yourself... is biz worth 4 billion dollars?
Don't be a fucking moron.
At least this kind of post is easily debunked

>>24612796
Dyor kid.
I doubt you'll see the potential though

>>24613346
cant a bunch of people not arbitrarily select whatever answer they want? what is it, a digital jury? the opinion of a crowd doesnt provide any security. doesn't safeguard against anything. who are these people? what guarantees they have knowledge? what guarantees they are objective or not biased or selected?

>>24613399
OK ill spoon feed a little.
Have you heard of wETH for example?
If aave were going round lending wETH and printing their own when needed then they would literally be giving a worthless token in return for real ETH(or what ever collateral).
In comes LINK to prove that aave are holding at least as much ETH as they are lending in wETH. Thus creating a currency, in their case wETH which is actually backed up by ETH.
Without link defi is not possible.
There are way more use cases and most of them you won't have a clue about, you can't say a car is useful so people buy it.
A capacitor is useful and people use them every day but most people don't know they are using them or what they are

>>24613480
how can link prove that? a bunch of people told link it? or did it find it out itself (idk)? why is link necessary here?

The purpose is very clear

>>24613376
Go back

Let me help you see things more clearly OP

>>24613537
A load of link nodes will check the aave wallets.
This is the most basic example, if you can't get your head around it then don't buy link... simple.

>>24613480
wtf is this shit
aave doesn't mint/create wETH. wETH is minted through the decentralized ETH <-> wETH smart contract. this decentralized contract does not need oracles, as everything happens on chain. you're trading an ethereum blockchain asset for an ethereum blockchain asset...
all wETH is backed by ETH by design, it's literally impossible to create unbacked wETH

Couldn't be more clear

cayman islands scam
token not needed

1 billion eoy

Clear as air

>>24612796
With chainlink and a smart contract you can automate literally anything, retard. Even your mom's whore cunt - you install a cum sensor into her cunt and she automatically gets paid $10 once it senses fresh cum.

Hope I cleared things up for you OP

>>24612739
No one here is going to spoonfeed you 3 years later.
You will either buy and be stressed and sell when it dips, or you'll watch it go to 1000$ from the sidelines like you watched it go from 10 cents to 20$.
Imagine this: Jewish big bank wants to sell debt or stock or anything to another jewish big bank.
Either:
Spend a shit ton of money on lawyers to read the contracts and execute it.
Or
Use a program since we're in the 21th century.
If second option is so secure then why are they still using the first?
It's simple: Jews know themselves and don't trust other jews.
Where will the programs they're using be executed? On AWS? How to make sure the person who writes the code isn't paid by either bank? etc... So the lawyers and their big bucks are necessary.
Now imagine if they could execute this in an open source decentralized smart contract? Well as of right now it's not possible, or barely starting to be possible on defi.
Link enables uniswap, aave, yfi, etc... Eth has been around since 2016 and only after link price feeds did we see defi.
Well soon chainlink will be more advanced and allow more operations, and big banks will use it because: A decentralized platform getting price feeds or other data from multiple other exchanges etc... is a lot harder to rig than something like the S&P if you see how they rated debt before 2008 which caused the crisis etc...
Since you sound like a 1 min attention span *edditor I'll make it simple for you:
TLDR: The long nose Silverstein doesn't trust the long nose Goldstein.

>>24612769
>>24612778
>>24612796
>>24612939
>>24613026
>All these blue ids
Linkies finna make it boys

>>24613399
>what is it, a digital jury?
Literally the usecase PNK jeets are shilling lmao, but no, it's not LINK's usecase (for now). Most if not all contracts that will use LINK will be deterministic. In other words, the gathered data is easily verifiable by computer systems and it's outcome will be an objective truth, not subjective. As soon as it involves subjective truths, it will be a lot harder for smart contracts to handle. It might happen in the future, but for now this usecase is a pipedream and the reason PNK will never really take off imo.

In LINK's case though; think weather data, sport's outcomes, stock market (and crypto) data, company earnings etc etc. There is only one true answer here. Anyone claiming otherwise is lying. Think of it as something that can be answered with Y/N. Did the crash occur? Was ETH above $300 on a 21/8/2020? Did FC Norf win with at least 2 goals scored against FC Souf? Was the package delivered to address A, within x days? Chainlink aims to use nodes that stake LINK as collateral, to answer these questions. Nodes are incentivized to give correct answers by garnering payment in LINK, paid by the one requesting the data. Dishonest or faulty nodes that supply bad data are to pay an amount of their staked LINK as a penalty. That's pretty much it. Search the archives if you want to know more, this is more spoonfeeding than you deserve.

>>24614005
I'm currently reading the 4th Industrial revolution. If you're going to be shitting up every thread with Schwab posting, at least share your opinions on the book.

>>24613626
Rio Ferdinand lol

>>24614029
Here is my opinion:

Faggot.

>>24614129
Cool. I believe you're out of unfunny great reset memes anyway, so stay seething faggot.

>>24614162
Think again schwabdemon

>>24614162
You better believe it

>>24614162
I am belief

>>24614162
Now this I don't belief

>>24614265
>>24614296
>>24614314
>>24614333
Anon, these don't have the Chainlink logo shopped into them. Why should I feel attacked now?

>>24614162
You could have beliefed dis

>>24612739
solving Sergay's Big Mac problem

>>24614355
Non-believer

>>24614363
>>24614379

>>24614398

>>24612939
>real people need to have a real use for something in order for it to have value
You had 3 years, go back to plebit and read things more suited to your iq level

>>24613771
>big banks will use it because
Big banks will never use this piece of shit

Blockchain is not needed to "secure" transactions, because it's too volatile, the fees change so it would change the nature of the contract itself. It would have to be a stablecoin if crypto was used at all, and why use a stablecoin when you can use the actual US dollar? You guys are beyond fucking deluded. This is why your shitcoin can't mon to $20 after 3 years while other new coins that actually do shit, like for ex wcres, do this in 2 days.

>>24612739

Fleecing newfags from their bitcoins.

/thread

>>24612739
It's simple really
it solves the lambo problem

>>24612769
>be bsv
>all data on-chain
>all data automatically safe
>linkies seething cos their shitty erc-token is forgotten

>>24615849
>chain has one miner because and it is bloated as shit
aws and google niggers will love it

Idk but I bought 1000 because I liked the memes

>>24612739
It solves the lambo problem