/biz/ - Business & Finance

Also curious. Crypto usually seems like a bunch of malarky and hog-wash.

>>26056910
making you money, dumbo

>>26056929
This guy knows.
I have no idea what the hell an Oracle or a smart contract is, all I know is I'm making money.

>>26056928
Bitcoin is unironically the only thing I understand. How could anyone expect a normie to understand the value of ETH let alone LINK?

LINK is a json parser

>>26056996
Why would I need my money to parse json?

>>26056910
this

>>26057012
it puts the parsed json on the blockchain so gambling degenerates can lose money when some code liquidates them after trump loses

>>26057045
Still don't understand how that works at all

>>26057063
LINK says "hey, nodes, did trump lose?"
nodes says "yes"
LINK provides the following json file
{ "TrumpLose" : True }

gambling defi scams, that are then connected to LINK, read that file and liquidate all the degenerates on their exchange.

>>26056910
Combine any data to the ethereum network and link oracles

>>26057333
Trips, boys and boys (female) and girls (male) and girls.

>>26057045
Basically, if there's some device that can determine whether or not I peepee and poopoo, and there's some system that pays me a certain amount whenever I peepee or poopoo, then chainlink automatically takes the peepee poopoo data and feeds it to the blockchain, which is then verified using blockchain jewmagic (which is the point of blockchain tech I think), and then you get paid.

It can get intricate in how it pays you with the data it's able to take in from the "real world", it's all automatic, so no need for a Jew in the middle.

>>26057751
So if this all works out better than anyone expects it literally rids the world of the need for government.
We no longer require a super entity with a monopoly on force to enforce contracts.
Thats some space age shit my dewds.

More likely it's an overly ambitious meme project only good for holding until people realize they've bought into a peter molyneux tier bamboozle

>>26057867
>So if this all works out better than anyone expects it literally rids the world of the need for government.
we already dont need a government but ok

Poopy money big mac

>>26056910
It's all in the archives.
You can either buy and research or research and buy.

Ok so you have a contract which you want to be automatic. Basicly all contracts follow the principle If one party does something (eg. plane lands) THEN second party does something (eg. pay money).
That;s great, now the question is how does the automatic contract know whether the plane lands or not. Contracts running on blockchain can not communicate with outside world so they need a middleman called and oracle. Now the contract asks the oracle if the plane landed, oracle asks an airport for this info, translates the answer to a language which contract understands and the contract can execute.

That's all great and fancy but what happens if an evil hacker takes over the oracle and forces it to give bad answers? Then the whole contract would be useless, wouldnt it?

That what chainlink tries to overcome - you have many oracles which ask many sources wheter the plane landed or not. It is much more difficult to hack 1000 oracles then 1. Chainlink algorithm then decides if most oracles answerd yes or no and feeds this data to the contract which makes it much more secure.

Why do you need token you ask? For two things:
1) Someone has to run these oracles. Nobody likes to work for free so if you want the answer from an oracle you have to pay it. The oracle only accepts chainlink token as a currency
2)As a contract owner you want to be sure that the answer is 100% right. To be as sure as possible you ask the oracle to secure the worth of the contract so if it fails you will not lose any money. This also happens in chainlink. How do you know if an oracle can afford it? You see how much money it has. If it is a rich oracle it can cover the worth of the contract if it fails. All these money has to be locked in an oracle to be sure that it has enough money to cover in case of failure. This is staking and we are still waiting for this part to be implemented.

I hope this made it slightly more clear. cheers.

>>26056910
why did this commercial trigger r/4chan as much as it did?

>>26058679
>This is staking and we are still waiting for this part to be implemented.

So this is going absolutely nowhere then isn't it.
How are oracles expected to bank enough to cover the cost of a contract?

>>26057751
smart contracts
>did you peepee? yes? paid
>did you poopoo? yes? not paid

>>26057751
I've worked with systems that do the same thing without blockchain, what makes link so special?

>>26058787
There are two ways.
First: you are a rich man who has for example 1000 link and you run the oracle by yourself and earn all the rewards. but also risk all you precious link in case of failure. You don't want to fail so you do all you can to give good data.

However most people are poor and only have 10 link, what then?

Well, you can ask 100 people with 10 link to run the oracle together and then share the rewards! That is why services like linkpool aim to do. Gather many people with little link to run good oracles together. Then these oracles have enough link to cover for the contract.

It’s made for Sirgay to buy more BigMacs

>>26058679
is this being used irl right now?

>>26058961
Yes, but right now think of chainlink as still being in beta. It is working but it mostly feeds data with regards to value of different cryptocurrencies to all sorts of services which need this data. Chainlink network is asked about this information about 65000 times a day and oracles who return data earn link already.
You can check all these metrics here https://market.link/metrics

>>26056910
Its purpose is to make you rich.

>>26056910
>explain technology
>dont use technical words.
Fucking pleb go read a dictionary then come back.

>>26058911
What is required to be an oracle?

>>26059058
thanks fren. im a newfag just trying to learn.

>>26058679
>>26058911
>>26059058
thanks bud

>>26059170
no problem bro, we all need to start somewhere.
>>26059170
There are some techical details which I wont expand on but you basicly need a pc which can run some code and connect to wider chainlink network and some data source. You can be the data source yourself if you have some interesting data to sell. For example you can place a thermometer outside your window and if there is any contract which need data about temperature in your city you can provide it. You can also buy data from some other source and then feed it to chainlink network. You can find more details here https://docs.chain.link/docs/running-a-chainlink-node#config

>>26056910
link is a piece of shit erc20 token that allows companies to sell data on the ethereum blockchain. the whole point of ethereum was to enable trustlessness (ie completely avoid oracles). an oracle is simply put an entity you query to get specific data, like the price of dogecoin for example.

>>26058679
Cool, so it just removes a single, already extremely arbitrary step in a chain of events when a person determines a contract's state.

Normal:
Person makes decision on state > logs the decision > authorises payment > people are paid
WITH LINK!!!!:
Person makes decision on state > Link parses this decision > authorises payment > people are paid

Wow, it's fuckin useless. It's about as 'revolutionary' as having one button that does two things at once. Who gives a shit. I can see now why people make fun of stinkies, this shit is going the way of FUN and LTC within a few years guaranteed.

>>26059131
I'm very good at languages, fren. However, whenever I listen to Sergey, all I hear is absolute nonsense. If you can't explain something simple and clearly then you're the one who needs to read a dictionary

>>26059717
Sure, you are partly right. However in you "normal" use case you need a person who has to check the decision and then authorise the payment. And this person has to be paid. Since link is an algorithm it can do the same thing for cheaper price. With bigger scale and more use cases you can save a lot of money by eliminating people. This is pretty much case with automatisation as a whole.
What we are doing here is betting that in future automatic contracts which execute without human intervention will be popular and used by many businesses and these businesses will use link to pay for execution of these contracts.

>>26059717
No people need to be involved. Smart contracts will replace a lot of jobs. I don't believe this uses link, but it's a good shill of what they do IRL:
This is Rebecca Hoffman, she works for Norway's oil and gas company Equinor. Watch this video starting at around 48:00, Ripple, Amazon, Deloitte Present: Enterprise Blockchains, Governance & Mass Adoption | Unitize Day 3
She clearly understands the gravity of the coming impact of smart contracts. She ran a POC for water haulage smart contracts. You see, most oil wells are in remote places without infrastructure. Delivering a truck of water currently takes a person onsite to verify things like time of delivery, quantity delivered, some paperwork to ensure appropriate parties get paid, etc. She explained how Equinor decided water was a low risk place to start. She goes on to say 90% of the deliveries required no human interaction AT ALL. Even the people whose jobs are being replaced were dumbfounded, there was nothing for them to do. Watch how excited she gets when she talks about how much this will save, and all the things it could be applied to. The 4th industrial revolution is here frens, are you ready?
Watch this video starting at around 48:00, https://youtu.be/UEEMh93lwdc

>>26060007
Ok, this is rather convincing. Will watch

>>26060051
Great, glad that I helped

>>26056910
Puts information into shitcoins

>>26058679
Now explain GRT?

are they ever going to try to get off ETH?
I mean as of now LINK is nothing but an ERC-20 token, which is laughable to the least.

>>26060007
automation and blockchain is not synomous of course. Just because IT can automate something, doesnt mean you need a blockchain there.
Then again who knows, supplychains seems to adopt it too, very slowly.

>>26060127
Graph and Parsiq are inverse oracles.
They are tools to query blockchains to get information.
Aka anything that wants to use blockchain and wants data from the blockchain.

>>26060127
Sorry bro, I have no knowledge about what grt does or what it is. 100% of my investment is in chainlink

>>26060160
You have to understand that chainlink will always be a token. It was never a plan for chainlink to have its own blockchain it was always created to run on other networks.
What is important though is that it is blockchain agnostic so it can run or any other network if there is a need. Even right now there are
external adapters so you can technically run chainlink on different blockchains but with eth as middleman still.
I can only guess that they are currently runnin it on eth because it's the biggest on most robust network at the moment.
Also, just to be clear, link is an ERC-677 token. It's like your normal ERC-20 token but it can transfer more data in it.

>>26060331
Watch the video I linked to, it's about a pilot program Equinor ran testing blockchain with a consortium of other companies. They talk all about that. The company that is delivering water an outside entity, that doesn't necessarily trust Equinor and vice versa. This isn't just automation, it's adding a layer of trust to outside entities you normally can't trust + automation.

>>26058787
>So this is going absolutely nowhere then isn't it.
Yes. Buy ADA or Algo instead.

It's a a JSON parser, the token is not needed.

>a literal parser
>worth millions

>>26060509
We will colonize Africa again with Chainlink.

>>26056910
You ask the very simple question to many people in order to have a 100% sure answer.
This certainty is very precious when very expensive contracts depend on the exactness of the answer.
People responding to the question get paid in LINK, so adoption of the LINK system drives the price of LINK up

>>26060681
Every piece of software is just pushing 0s and 1s in different directions if you zoom far enough.
What gives link value is wether business see it as either way of saving money or adding additional layer of security (or both). The network is being used right now so it has proven the basic assupmtion that some companies are willing to pay in chainlink for the network to provide the data. Now it's only a question if more business will see chainlink as viable source of data so the network will grow. It's going good so far, what will happen in the future nobody knows, we are all here investing in a potentialy revolutionary technology in its stage of infancy. It can just as well wither and die, consider it all as more informed casino play.

>>26060509
I see, will check. Trust/Verify is a good argument.

>>26060509
I still don't entirely understand. Wouldn't they still need somebody to verify how much water was delivered? How does a smart contract verify that?

This thread already has way too much and accurate spoonfeeding. Consider yourself lucky, newfags. Refer to the /biz/ archives if you want to experience the process of /biz/ discovering and discussing LINK to the point it was seen as a sure and inevitable moonshot.

>>26061086
How can you be on 4channel.org/biz and be this technologically unaware? Or are you just not using your brain to make the connections?
>IoT
>Sensors
It has been all the jazz in the IT world this past, uh, decade

>>26061154
Why the fuck would I know the ins-and-outs of shipping and delivering methods you stupid nerd

>>26061086
IOT devices on the truck and pumps that tell when the truck left, how much water it had, when the truck arrived, how much water it pumped. These are remote well sites that don't have many people working there, and the ones that are are focusing on getting oil out of the ground. She talks about how there used to be a person would stop what they are doing, sign the paper the truck had, file the paperwork, send it off to someone else, etc.
A smart contact could be written once and modified slightly for all sorts of things that are similar, stamped out over and over. In their test, they only needed human interaction 10% of the time.

>>26061279
Thanks, this actually sells me on Link. Only question is, do people actually use Link? I'd imagine all of this would just end up using Eth

>>26061195
>Ins and outs
What is your background? Most (college aged) normies I know are somewhat familiair with IoT because Discovery/NatGeo/I LOVE SCIENCE outlets have been shilling the fuck out of it in the last decade. From there on it's not hard to connect the dots. I know nothing about the intricacies of supply chains, yet I can figure this much. How did you even find /biz/?

>>26061103
It's a good day for chainlink, and we are all friends here. When i bought my stack in 2017 there were also some nice anons who spoonfed me so I was able to make a sound decision. Let all the new friends learn and prosper, we can still all make it.

>>26056910
It's the solution to the Oracle problem.

>>26061327
>What is your background?
Computer Science and music. Honestly, memes aside, you sound like an annoying nerd. I understand now, but as I said, I have no fucking idea how supply chains work. The question is pretty reasonable

>>26061103
Eh, I've been relatively quiet for years, posting things like this every now and again either when link is ath or new information comes out. A suicide stack costs more than $20k, I can share with these dumbass newfags, they'll sell too early anyway.

>>26061374
>Computer Science
HAHAHAHAHA oh no no no, you have got to be kidding me. Please tell me you are not a burger and at least received college for free, because you got scammed my dear "no technical terms allowed and what is IoT?" anon

>>26061422
You really are a midwit. Using obfuscating and unclear technical terms does not make you clever. It's much harder to clearly explain something in simple terms. This is also literally the foundation of making clean and economic code..

>>26061320
Oh my, you really are new here, huh? All of defi is powered by link, and if it's not it's at serious risk of an oracle attack. Go look at https://www.ethgasstation.info/ chainlink uses millions of dollars in gas every month.

>>26061482
Been here for years, I remember when every second thread was some variation of a blue cube. I just never cared/thought it was a needful scam

>>26061351
>>26061406
You are right of course, and I have done my fair share of spoonfeeding. It just irks me that fags like >>26059717 try their hardest to shit on LINK and being obtuse, only to do a 180 and change their tune a few posts later >>26061320. This is the exact Reddit crowd that was kept out in 2018.

But sure, it was always the plan to let them in at some point.

>>26061468
Nigger, IoT is not an unclear technical term. Even if you didn't know the abbreviation (which is impossible if you are a dev) you could've googled it instead of demanding to be spoonfed like the dumb newfag with a shitty attitude that you are

>>26061510
>I just never cared/thought it was a needful scam
Yeah, I don' think you should go around calling others midwits, anon.

>>26061595
Did I ever say IoT is an unclear technical term, you pathetic retard? Is your reading comprehension really so dire?

>>26058858
It connects the same data to the blockchain. This means that the data in there is verified by math principles, rather than just plain old trust.

>>26061595
>it annoys me that people find Serey and his reddit-tier faggot SCIENCE!!! fans obtuse
>it annoys me that when someone explains something in a way that makes sense to an outsider, rather than speaking like a 1st year Science major redditor, that the outsider then understands what the insider is saying and then changes his opinion

>>26061633
>midwit semantics
You're beyond saving and it pains me to think you might even profit a single fucking penny off of Chainlink. Have fun with your 10 link stack, dumbass.

>>26058679
>Why do you need token you ask? For two things:
Oracle Pools run on the native token of Ergo, ERG. Will be ported to Cardano as well, where both ERG and ADA can be used to fund the Oracles.
https://explorer.ergoplatform.com/en/oracle-pool-state/adausd
>POOL FUNDED PERCENTAGE: 429000%

>>26061595
4chan is and always has been a rather hostile place which is part of the charm. But i believe that even this guy >>26061510 is actually trying to learn. And even if not there may be some silent anon who reads this thread right now and will decide to buy chainlink and will think fondly about this thread several years in the future when sitting in his lambo. I'm in a good mood today

>>26056910
link's purpose is for pumps. DIA's purpose is for actually gauging real prices of the people using their oracle

>>26061692
>I want to be spoonfed ON MY TERMS and I will be a fucking bitch about it the entire time!

>>26061740
Me too, fren

>>26061719
You're the one ranting like a spastic about how I directed my ORIGINAL POST somehow towards you and the things you've said in MY THREAD. That's not semantics, go back to r/livingwithschizophrenia

>>26060007
She literally has no understanding how how much human interaction is actually needed. These cunts in positions like that, I swear to fuck man.

>>26061808
That's what I'm saying, it seems far-fetched to me that a delivery could be done without anyone but the deliverer, and you have this schizo nerd shitting himself in my thread for 30 minutes while I'm just trying to get to the bottom of this

>>26061796
Well actually, it was this post >>26059717 that made me reply. It is absolutely baffling to me that anyone would willfully broadcast their ignorance and stupidity on the internet for all to see, while assuming a position of knowledge. Kind anons are spoonfeeding your entitled and ignorant ass and you have the gall to shit out the most retarded synopsis of their posts with an even dumber conclusion to boot. All the while saying "b-but I'm actually trying to learn! I want to get to the bottom of this!" Dishonest and nigger tier behavior.

>>26061967
Either bitter manchild or actual child, either studying a natural science or engineering

>>26061846
Sure it can, just use your imagination bud, it is even possible with todays technology. I can argue that in a desert you dont even need a driver, there were contests with self driving cars on a desert years ago and the technology is only improving.
In this water example there may very well be a self-driving truck which will drive to automatic water pump, which will pump water till a sensor tells it to stop, then the truck will drive by itself to a delivery point where another sensor will tell it to stop pumping when the truck tank is empty. Then there will be another sensor in a bigger tank which will tell the truck whether it should make a drive for more water or not. All automatic, no people involved, all possible with todays technology. Is this the use case which will profit from blockchain? Maybe not, but this is just a single example of possibly infinite types of smart contracts which can be created.
When internet was first created many people also thought of it as silly, slow, expensive and useless because we can always shop in malls, watch tv, buy newspapers and listen to cd's and look where we are now.
All of this blockchain idea is still new and promising, wheter it will boom or not we will see in future, right now we can only make an educated guess.

>>26060007
I will let you in a secret anon. You probably never held a job, or not for a large company so you wouldnt know.
Exec level people have no clue what the fuck they are talking about. They dont care if something is good or profitable, they will latch onto newest buzzword, have some lower level drone prepare analysis to prove their point and show it off as the fruit of their work. Most of the time nothing will come out of it either way due to internal politics. And if 10 years down the line it turns out to be shit? Who cares, they already moved vertically to another company for another exec position.
Dont ever take at face value what some exec level person says, they do change for the sake of change because thats their job apparently.

>>26061808
Positions like what? She said she volunteered for a pilot to test blockchain. She actually does know what is involved, because that was the whole point of the POC. The specifically started with something that wasn't directly related to the business, and didn't matter if they fucked it up. You sound like you might worried your career is going to be replaced by the 4ir.

>>26057867
If 1 link ever costs more than a gun then it’s useless cus you can enforce any contract with a gun

>>26062123
I'll give you one example. I used to stack tyres in a warehouse when I was at uni. The tyres would come in containers - the tyres had no markings. We'd count them by the pallet as we stacked them. My point is, yeah it's possible, but I REALLY doubt that anything but a small minority of megacorps would be doing automation to the level where this sort of technology even make sense within the next decade

>>26062084
I run the virtualization infrastructure for a large university research health system, working on getting us into aws. I know what you are saying, I live it and have been burned by the exact things you are saying, but this is coming.

>>26062187
When computers first appeard they were absurdly expensive, painfully slow and you needed a warehouse to store one. When some visionaries thought that they will one day fit on your desk they were considered either overly optimistic or plain crazy. Why would anyone need a calculating machine in their home, who but the megacorps need to count big numbers? Small business can just use pencil and paper like they have done for centuries.
Now you have a supercomputer of the future in your pocket just so you can shitpost on arabic sounddesign forum.
Let the technology mature, and we will see where it will take us. This is a long run game, not a get-rich-quick scheme which will end its course in a month. Think of it like buying ibm stocks in 1960's or whatever.

>>26062480
Very good point mate

>>26056910
from my understanding it is like the glue between the blockchain and the real world.

>>26062065
Making psych evaluations over the internet might be even less suited to you than your current IT career is anon.

>just because something is obvious to you, does not mean it is in away way obvious to the heaving masses of absolute fucking retards who are throwing their money away in this market
Well goddamn, didn't that anon hit the nail on the fucking head. At least you reached the point where you attempt to do due diligence, so kudos for that.

>>26062822
You're pathetic mate, it's time to go back

>>26062851
Just read the image I posted carefully and hope you are smart enough to make it past the retard filter the next time an opportunity like Chainlink arises. I can't imagine being on /biz/ for years and only now realizing the "Chainlink is a meme" meme was a meme.

Good luck and try not to let your midwittiness hold you back again.

>>26057045
So how does prediqt.com prediction market work today fine without link?

>>26056910
Trustless data feeds connecting off-chain data to on-chain smart contracts

Chainlink provides external data to smart contracts, something they cant do natively

Example: aave lets you borrow 70% of your collateral. lets say you deposit 1 ethereum, worth $1k for simplicity. that means you can borrow $700 worth of USDC or wBTC for example

but wait, how do aave smart contracts know the value of ethereum, USDC or wBTC?

they use chainlink.

now, what are LINK tokens for?

chainlink oracle nodes need to be paid in LINK. so aave needs to buy chainlink and pay it to chainlink nodes

in addition, soon chainlink nodes will need to buy chainlink and stake it, in order to disincentivise them from providing incorrect data.

>>26062822
This but with another coin that I won't name.
The potential is so painfully obvious if you just opened the homepage as they have a working demo as soon as you open it, yet people dismiss it as a scam or a useless shitcoin.
What the fuck? Are people really THIS retarded? Are they paid to be retarded? Do they do it for fun? On purpose? I swear it's maddening.
More for me I guess, but really.

>>26058679
thanks

>>26062084
This one knows.

>>26056910

>>26056910
Its so funny to me that 4chan picked up on the pure cringe of OPs pic. I watched cable TV for the first time in years and I saw that commercial and i just thought about strangling the people who put that on tv to death one by one. And here it is getting memed on the boards. Great minds

>>26061406
Spoon feed me something else Friend <3

just look at all the retards "investing" in crypto that dont even know what the fuck the purpose of their coin is. NEWSFLASH PAL ITS ALL WORTHLESS

>>26063679
There are thousands of shitcoins. At least give us a hint of where to look.

>>26060509
OK fine but Chainlink isnt needed. IBM is developing in-house all kinds of blockchain solutions for enterprise, NEETs and their tokens not needed. They're not the only ones, either.

>>26065259
Quite old fud, which is partly true but also applicable to everything you can imagine.
The internet is not needed, google can build their own internet, amazon can built theirs, netflix as well. Roads are not needed as well, tesla can built their own roads and even charge money for people to ride on it!
Yet, those companies are not doing this. Why? Sometimes it's easier and more effective to use existing infrastructure and built on it. If anything I expect IBM to have their own chainlink oracles in the future, that's more cos effective.

>>26056910

Like every other crypto = you buy it from another one with the hope that you can sell it to the same other faggot higher. (Bigger Fool theory)

>>26057751
so it's basically a way of verifying truth for the purpose of settling smart contracts?

>>26063679
ARE YOU TALKING ABOUT OCEAN SIR??????

reward who tells the truth and punish who lies

>>26056910
It solves the lambo problem

>>26056910
Number go up

>>26056910
Link is a worthless memecoin.

If smart contracts ever actually start being used then yes we'll need Oracles. But an Oracle isn't some advanced piece of tech, it's literally just a JSON parser. There is no reason these wouldn't be built on top of the native platform (most likely Ethereum) using the native token (Eth).

If SirGay actually cared about building Oracles and helping to develop the smart contract ecosystem he would've done just this.

But there's no money in doing that. That's the whole point of "decentralized finance" - there's no middle Jew to get rich off building the infrastructure. It's supposed to be free, open-source. Even if you put some kind of fee structure into the contract it's open source. So anyone can just copy your code, remove the fee part, paste the code and now you've been cut out entirely.

So what does SirGay (and every other "blockchain developer") do in order to make money? He invents a token. It's useless, uneeded, and pointless. But it's a token. And now SirGay owns 60% of them for doing nothing and gets rich off /biz/ retards who buy this token thinking they're buying into some futurist blockchain company. But Chainlink is not a futurist blockchain company. It's a branding machine. The millions of dollars you retards have funneled to them them is not going into actually building anything of value. It goes into branding, "partnerships", announcements. Blockchain companies are a lot financial gurus who got rich off being...financial gurus. There is nothing underneath the mask. It is all a game and you are falling for it.

>>26061595
I have a question about the economics of this. If we take it for granted that the technology is legit and will change the world, does that necessarily mean that the value of the coins will increase? If anything I'd expect that a stable price would be desirable for something that's used ubiquitously so it would make sense for them to try and increase supply of coins as demand increases. Am I being retarded?

>>26065187
>>26065768
GRT
Go ahead, READ the website and tell me it's a shitcoin

>>26056910
It's a token. That is the key word TOKEN. With all these projects, chainlink, uniswap, loopring etc, think of these projects having two parts. The product and the token, similar to how when you go to the theme park you have the rides and the plastic coins or paper tickets that allow you to go on the rides.

This is the same thing with the chainlink token. In order to interact with the chainlink product (it doesn't matter for now what it does or why), you need the appropriate token to interact with that. Uniswap is a little different, you have the product of uniswap and then you have the token, which currently is given as a reward for doing things within the uniswap product and as a "vote" in the governance of the uniswap product. These currently are the two main uses for tokens.

Seperate to tokens you have cryptocurrencies like Bitcoin, Litecoin, Stellar, Ripple etc where there isn't really a product, the coin is the product, often being designed specifically for the task of representing and transacting value.

With all this in mind. The purpose of the LINK token (the thing you can buy on exchanges) is to facilitate interactions with the Chainlink product, which is in simple terms, a decentralized network of oracle nodes that deliver API data to smart contracts.

It doesn't matter if you don't understand what that means. Just know that it's a thing people want to do, and will likely continue wanting to do in the future. And in order for them to be able to do it they will need LINK tokens. And possibly they would be interested in buying them from you. For money.

Every block that gets mined used psq validation co-operability that instigates the usage of the entire network. Low tx fees are needed to produce gas which in return give token holders an incentive to hold through the halving which occurs every 1-3 years you pars your wallet.

>>26056910
The purpose of link is to get more bitcoin. It’s a scam just like ethereum. That being said i just bought 11.3 ETH yesterday so that i can sell later for more bitcoin.

>>26066055
No, your logic is fine but what you don't know is that all of the tokens are preminedand their amount cant be increased. Therefore with more network usage there will be more coin scaracity which will drive the price up. Especially when staking will be implemented as people project that vast majority of coins will be locked in nodes so the nodes will have better reputation, so they will be chosen for more jobs, therefore earn more link which then can be staked and so on.

>>26057106
is axe wound vagina?
false
goto: hell

I'm not sure I think it has a different meaning for everyone. Personally I use it as a catalyst for swallowing cum, whenever I buy Chainlink tokens I go out on the street and find the nearest homesless man that looks like Donald's Trump and pay him $100 to fuck me in the ass and cum down my throat. I can only afford to do this every paycheck so every 2 weeks I try to make this happen. Maybe Chainlink is also a metaphor for the time spent waiting, because the journey is almost as fulfilling as the goal. Dreaming every night of the homeless cum, waking up with drool on my pillow, this is part of it. Like I said Chainlink is different for everyone, but this is what it means to me personally.

>caring about what any of these crypto currencies do
>reading white papers
Reddit is strong in this thread

>>26066206
>READ
Premined vc shitcoin. No real data is stored on chain its too expensive. Only things that can realistically be queried are analytics about chain/dapp usage. Not as significant as you think.

>>26061740
There is at least one silent anon reading. So thanks for the info and keep on good sir.

>>26066403
Thanks for the information

this video is a good intro
https://youtu.be/ufVyX7JDCgg

also, supply chains that has been discussed above are just one example of what might be possible, here are another one:
https://youtu.be/zWTx1iQOCDM
newfriends should google "canDID jp morgan" imho

>>26057867
>More likely it's an overly ambitious meme project only good for holding until people realize they've bought into a peter molyneux tier bamboozle
No! My life is infested in smart contracts/oracles. Not that I've bought tokens but I'm learning the tech stacks so I can se t up peepeepoopoo systems for clients.

>>26060531
This. I don't know about Chainlink but my relatively short development journey has brought me to the dead end that is ethereum. Even after the network introduces sharting it's not gonna lower gas prices enough and ethereum founders greedily try to pump ETH. The only hope for ethereum is Layer2 and none of those solutions intuitively strike me as not good enough, though I haven't played with them myself. Vitamin is left holding the ETH bag while his friends have gone off and started projects that try to avoid Ethereum's failures.

>>26063679
Cmon man help fellow anons out what coin

>>26058858
Blockchain gives you a virtual machine, e.g. EVM, that let's you run code trustlessly. Therefore the parties to a smart contract can verify the code themselves and be absolutely assured the code will run as written/compiled. Otherwise you have to trust some system not to do shennanigans or fail. The best example is the decentralized exchanges. These are contracts running on Ethereum where you can read the solidity code yourself. Your not giving your tokens to a private exchange instead it's to some executing code that will do exactly what's written with no intervention.

>>26061808

You retards have no idea what you’re talking about, you have no idea how supply chain works. For the biggest deliveries of shit a driver pulls into a bay pulls pallets of shit into a room and then some old roastie shoots a barcode on a piece of paper.

If you mounted the scan gun on the wall where the pallets come out you could literally replace the bitch at the delivery site right now.

>>26067847
can confirm, I'm the bitch

They are deploying robots in grocery stores that cost $100,000 because they just have to buy it once instead of paying some low T balding boomer manager $75,000 a year for 30 years.

4IR is coming whether you like it or not. It’s not a meme anymore.

Live reliable databases updates.

>>26056910
vidt is the only crypto i have personally seen used IRL

>>26059717
>Person makes decision on state
Where are you getting this? With smart contracts nobody decides state. The contract does, maybe with data from an oracle. The only human intervention involved is in governance for the contract, e.g. a provision to move the funds to a new contract if all the parties agree because it turns out chainlink sucks and they need to use a different oracle scheme.

>>26060388
>parsiq
>graphql
I feel like etherscan is positioned to do this for a fee in fiat or anything else, no token or new tech necessary. They're already watching every single tx and parsing them and have a few easy to use APIs. If people start needing feeds of on-chain data etherscan could act very quickly to start providing it. Sounds kinda dumb.
>>26062084
This is true and might lead to many ill-wrought applications of SC. From my perspective there is something of a gulf between institutions and the open-source community in blockchain developments. A lot of the projects seem to be operating in walled-off worlds of megacorps. They probably read the same blogs we do but spend money developing their own systems. I think some of these institutions will end up releasing to the public tools that private entrepreneurs can then develop with and then bring to market actual solutions.
> Academics, nerds, and foundations develop protocols
> big for-profits develop tech to make use of the emmergimg protocols and do a lot of bullshit internally and some of it works. Some of this trickles out to the outside world as useful tooling.
> nerds and entrepreneurs now have solid tools and proven tech that they can work with to make products to sell to clients with actual use cases, not some C-suite roastie's idea for paying Africans less.
You may notice none of this involves Indians and Slavs doing ICOs. Don't worry though, I just made all that shit up trying to imagine how blockchain and SC might come to be applied IRL.

>>26062822
>picrel
That's how I'm starting to feel about ADA, or at least whatever chain/protocol emerges as the Ethereum killer. Ethereum WILL be killed, I'm almost certain. To the degree that I'm uncertain Chainlink will be relevant to the eth-killer is how uncertain I am LINK in the long run.
But yeah. It's incredible how !any people in the crypto space have no idea what the tech actually does and the real world potentiality. I think my own perspective is good because I am looking at it as a developer with an aim to sell services to clients, not just cash in on mooning tokens.

>>26066490
See, for example, you understood but failed to project into the future and see the possibilities
For me it's obvious, for others not so much
It's more than one "obvious" filter
Thanks for sharing your feedback anon, sincerely


>>26067665
Answered
>>26066206

>>26056910
Blockchain good, blockchain secure.

But blockchain security comes with flaw, cannot interact with real world with same security.

Chainlink good, feeds real world data to blockchains securely.

From how I understand, suppose you buy a watch from Switzerland. You pay with Chainlink. You receive the watch and it is a Chinese fake. You take pictures and prove it is not authentic . The oracle ( software version of customer service ) analyzes your claim. Then uses statistics and other customer reviews and finds your telling the truth.

Unlike say: BTC , your Chainlink is collateralized ( you can get a refund once oracle confirms )

There , happy. That’s why Chainlink is vastly smarter than just plain money/BTC