/biz/ - Business & Finance

thicc

do they give it to node operators in LINK or sergey in USD?

its getting tiresome.
What does this even fucking mean? the protocol generates 100M USD in shitcoin, reserves 1.2M USD in shitcoin for Chainlink service, hands it over to Sergey -- sergey does what with it? how does it benefit the token price?

>>54487119
functions is an ocr protocol, i.e. many nodes perform the job. chainlink labs subsidizes nodes with chainlink so they can cover their gas fees. if instead gmx fees are used to cover gas fees, this removes sell pressure on the chainlink token because it does not need to be sold. these fees from gmx alone will likely be enough to make operations on avax and arbitrum 0 net cost

Finally, our time has come. The switch is about to be flipped (2 more weeks tho).

>>54487146
So
>get 1m worth of shitcoin from protocol
>buy USD/Eth/Link/gas for chain with it
>give to nodes.

Thats good. I just hope if they need to give Link to the nodes they, you know, buy it with what they are given rather than exchange it with their reserves of LINK. Otherwise no effect, and token releases still even if it removes open market sale pressure it still dilutes

>>54487098
>>54487119
You're a fucking retard.

Everything nodes have ever done has been paid for in Link tokens, start from there and see if you can figure it out.

>>54487249
Yes, but by Sergey. What pumps the price is market demand for the token.

Not Sergey exchanging whatever he is given for LINK from his reserves then giving it to nodes

>>54487271
>What pumps the price is market demand for the token.
And everyone will want the Link token. FOMO will be bigger with Link than it was with ETH. Remember this fact.

>>54487271
>Yes, but by Sergey
Same way BTC miners are paid by Satoshi.

>>54486554
Speak fucking english please.

>I'm sorry, but you have to pay, okay?

>>54487249
This is blatantly untrue. Payments are going to Sergey in cash or stables ATM.

>>54488615
Tell me how that's different from what I said.

>>54488626
You are implying that Sergey is taking his cash payments and buying link off of the open market. This isnt true.

He's taking cash payments and handing us premined chainlink IOU's. This does absolutely nothing for demand while increasing supply.

>>54488676
>You are implying that Sergey is taking his cash payments and buying link off of the open market.
Where the fuck did I imply that? Quote me.

>>54488676
>This does absolutely nothing for demand while increasing supply.
You mean the exact same way BTC mining rewards do nothing for demand while increasing supply?

>>54486554
>wow this will surely pump Link's price
oh non on on on on on onajahayashaahaghaghaghaghaghahghgaghasghagaghasghaghgfhusdghgsyfguadhsghsfghuadsghsdashgfaghgahghaghahaghaghahgaghhagagaahhahahahahqhahahhahahahahhhhHHAHAHAHHAHAHAHAHAHAHAHAHAHGAHAGHHGAHGAGHAHAHGAGHAGHAHGAGH

We haven't made it yet. But the comfort I get from every piece of news, for my bags that are -80%, is quite strange. I can't quite comprehend how we are not all millionaire's yet. Or that anyone can jump in now and make it. But to deny this would be to deny reality. What on earth is happening?

>>54486554
Hey @bubbafoxfag - not buying your ultra heavy bags ok?

>>54488728
>chainlink secures one gazillion dollars
>$7
The "FUDDERS" have been trying to break the programming you fell into but you will never accept reality.

The token isn't needed

>>54488777
Yeh thanks and checked and all that. You're a real modern day saint.

>>54488777
>wasted digits on tired fud
This board is dead. Half the threads are still LINK threads and half the posts in the LINK threads are fud from 5 years ago.

>>54488799
Not a saint, a heckin martyr; he's sacrificing years of his life trying to convince those poor linkies, just because he loves us so much.

Checked btw

>>54488806
What you call "FUD" is reality

You have been holding a premined shitcoin for the past 6 years while only enriching Sergey.

Keep trusting the plan lol

>>54488777
checked
>>54486554
>a step toward the token being finally monetized
kek, still TNN it seems, two more weeks guys

>>54488858
>still TNN it seems
lel the token has been used in every single transaction Chainlink nodes ever made.

>>54486554
From a GMX perspective, I don't get it. I don't know much about CL either, but aren't their services a fixed cost, I'm assume charged per use? Is GMX going to be tipping extra for no reason?

>>54488728
I'm a new fag with only 1k link. You really think i could make it?

>>54488934
Shows you how important GMX views Chainlink's services if they are willing to hand over 1.2% of all fees

Keep in mind that this is GMX paying millions per year just for the low latency Chainlink oracle service alone. Keep in mind that these are just fees from the low liquidity bear market with the bull market yet to come. Keep in mind that that low latency oracles are just one small portion of Chainlink services. Keep in mind that GMX is just 1 (one) client out of the entire DeFi space which already heavily relies on various Chainlink services to operate. Keep in mind that the main big Chainlink services are yet to come.

Have a good day.

Keep in mind that this proposal still needs to pass and majority is already against it

>>54486554
what website is this? its not snapshot

>>54488950
If LINK accomplishes even 1% of what it has set out to, you will be a millionaire with that stack. It’s probably not a big if, but it will take time.

There is no denying every linkie would be better off having sold at $50 and buying back in here. But, the speculative crypto market is detached from the reality of the long term trajectories of the shitcoins within it. LINK has one of the best, if not the best, long term potentials of any crypto. If LINK doesn’t take off over the next ~5-10 years then all it means is all of crypto is dead.

It will take another decade and a world war before link pumps. Sorry.

>>54489213
>majority is already against it
lmao no

Chainlink and GMX have directly worked together on it, the proposal is merely a formality this is basically already a done deal. Just like with the Arbitrum situation, done deal already

>>54489213
What is the purpose in just making shit up? Currently it’s a proposal, made by the core team in collaboration with Chainlink, and the majority of comments are positive with zero negative and a few questions.

It hasn’t gone to vote yet. Shut the fuck up.

>>54489213
Brown fuddie cope lol

>>54488777
checked
>>54488806
seethe more then kill yourself, braindead chainnigger cuck

>$7.22

>>54486554
Bullish since we now know the market price for chainlink services in the depths of the bear
At 1.2% for just one service thats huge no wonder that jeet was crying over the 100k that is now confirmed btw so fudsisters rekt
Bullish on link finally monetizing if only through cll itself

Unfortunately still bearish for us battered and bruised token holders as still no value capture to the link token itself
Why must the fatman torture us so

link can only pump whenever every single pretty roastie on the planet works for sergey on a six figure salary and there is still surplus profits. also if mcdonalds actually imploded sergey will obviously perish

>guys GUYS, they're literally starting the initialization of the preliminary beginning of the beta phase of the start of proposing the monetization of LINK in just 2 more weeks!
>1KEOY
kek the absolute state of baggies

> Last month, GMX has made $17.5M in fees. Annualized that is $210M a year (stats.gmx.io)
> 1.2% of this is $2.5M a year for chainlink - assuming gmx doesnt see any further growth

There are up to 2000 projects integrating chainlink now. This is fees from just one project. If the scale program keeps delivering numbers near this the token price is going to skyrocket.

>>54487098
it should be done transparently via smart contract so we can all see the payment on chain
instead we don't know how these payments are made

>>54490114
Node payments have always been on chain.

>>54490114
are you not trusting the plan? better get in line and trust the trustworthy trustlessness of trusty sirgay

>>54489266
Look at the discussion and comments, 1.2% won’t be paid, more like 0.12%.

Once again chainlink helps the dapps and the dapps will walk away without giving LINK anything

This token makes people very mad

>>54490884
mocking bagholders =/= making people mad

>>54486554
The Wild West of crypto is finally coming to a close thank God

>>54490918
You are mad. In both definitions of the word. No sane, rational person would act like you act.

>>54493172
Seethe more baggie

>>54494111
Use a filter, nigger. Stop pretending to be offended that you were forced to post in this thread. Also, kill yourself.

>>54494226
>throws a racist tantrum when called out
You're a sad, angry little man. Do better.

>>54494606
hahahahaahahaah, fudder is a baby newfag too.

>>54488728

The technology is nowhere near ready for release.


If the price rises organically it’s worth a cup of coffee.

Speculators rise it’s gonna be worth hundreds

>>54494703
Cope and seethe, chuddy boy

>>54487146
so instead of token holders losing value we are breaking even.

>>54488701
>You mean the exact same way BTC mining rewards do nothing for demand while increasing supply?
people have a reason to buy BTC, digital gold. link is a shitcoin

>>54494744
if we get to fity dollars im out of this peice of shit and chasing shitcoins. I left so much on the table holding this piece of shit its unreal

Bumperino

>>54489769
0% chance a billion dollar asset skyeockets because a pajeet project gives the owners of your shitcoin a mil or so in USD. Ahahahahahaha you fucking delusional faggot, fucking loser

>>54493172
>if you disagree with my cult I gaslight

Bahahahahahahahahahahahahahahahahahahahahahahaahahha…you realize no one gives a fuck about your diagnosis. Motherfucker thinks hes Dr Phil

>>54495520
One by itself? Definitely
But it's all of the anon
And they will, they will bend the knee, they will pay the fee because the have no alternative and it'd be such a shame if the were to lear Chainlink and suddenly someone exploits there network

>>54488934
Why do they want to fucking get affiliated with LINK?

>>54487280
Fomo would come for a lot of alts in the next bull season anon. More reason why I maintain my Dca on LiNK, alongside CRT and RIDE which earn me staking rewards on Xexchange

>>54498604
>alongside CRT and RIDE

Nobody actually falls for these "shills by association" faggot.

Pretending to be accumulating LINK so you can chink out and spam your dumpster fire trash is too obvious. I feel bad for you.

>>54494817
>i-it's digital gold
kek, GREAT argument

>>54490744
I just read the whole discussion and honestly it appears to be a done deal at 1.2% already. I don’t think there’s even a chance this changes or doesn’t go through. Team has decided, “governance” is just a formality.

great news. maybe people will really give a shit when the token moons. this should bring more developers and interest in the ecosystem.

>>54488777
Checked. Divine sevens. We are literally all going to make it

>>54494835
It will never get to $50 unless someone stuffs a Big Mac down fat boy’s throat and plugs it. He’s toxic

>>54495520
Uh ohh... except you forgot one little thing...

I WILL NEVER SELL MY 100K LINK YOU RETARD.

I made it off eth to live without care. The 100k LINK makes me billionaire.

>>54499311
The OG trillionaire bitcoiners with brain damage from pod mining back in 2012 are literally laughing at you anon

>That seems a little expensive.
It's absolutely absurd to me that the thing that provides the data to your decentralized exchange is seen as such an inconsequential thing, when in reality it is an absolutely critical part of the system. $1.6 million is absolutely nothing when you actually read into what the deal is. It's always funny seeing how DAOs are so limited because most people are absolute morons, completely out of their depth to be commenting on any proposal. It is definitive proof that democracies in practice are deeply flawed. Most people are not qualified to be commenting on any of this stuff, let alone being given the power to vote on key decisions.

>>54500871
you're correct. fortunately the system corrects itself. if the midwits and pajeets overrule the competent people and decide not to use chainlink, then the protocol will ultimately fail. these protols have essentially zero leverage in negotiating with chainlink. the smart devs, like gmx, realize this and align themselves with chainlink

>>54500871
that's because daos arnt ran properly, for example, daos shouldn't take decisions regarding technical issues for example devs cannot ask the dao for wether they should implement chainlink or not, its a technical decision that should be taken by experts, if a devs starts asking tech questions to the dao most of the time its because the devs know the dao will refuse and they will just give them legitimacy to keep using whatever shit solution they glt bribed to use.
do you really think that devs need to ask the dao on every single implementation in the code they do? they just use the dao as an excuse, most devs hold the multisig they can do whatever they want.
also i dont see why strategic decisions and tech decisions should ever be relayed to a dao... take for example CRV they are the only ones doing it right, the dao coin lets users vote on gauges allocs, and thats more than enough michael will never ask the dao about how to implement crvusd ...

>>54500963
>do you really think that devs need to ask the dao on every single implementation in the code they do? they just use the dao as an excuse, most devs hold the multisig they can do whatever they want.
That's also a funny thing. It's all an honor based system in practice, and we've seen just how much honor there is in this dumb industry (*cough* Arbitrum...). But yes I do think that for a DAO to have any practical value there needs to be a very clear and limited scope of what the DAO can and cannot do.

Bumping

>>54486554
I just delegated 1000 arbs to a swedish guy witha funny name. did I get those just for using cl staking?
when will link hit $1000?

>>54501992
baste

>>54501897
>when will link hit $1000?
2 more weeks
You just need to trust the plan harder!

>>54501897
Did you do any other transactions on Arbitrum?

>>54502068
oh, thanks.
>>54502111
yeah I got rugged for $1000 on coffee finance
though id remember which wallet I did that with so maybe I Have more to claim

>>54501992
kek. What do you mean we can't just use critical infrastructure for free forever??????????? THIS IS BLACKMAIL.

>>54488858

>>54501992
>meanwhile

>>54502398
Just finish selling the rest of your Beanie Babies on Etsy and put it into Silver Eagles, like grandpa told you to do years ago. You'll sleep better.

This is Danny's mom.

I have taken control of all his internet accounts and he will not be getting them back. In addition, I will also be deleting this account and reporting all of you to the authorities.

This is not the son I raised. I raised my son to be respectful of other women and to be a good Feminist. The Internet has ruined him, and he now refers to himself as a "Link Marine" and commonly says stuff like "Didn't read not selling" "Fuck Niggers" and constantly spews anti semitic hate speech. You guys did this to him and I am putting an end to it. If he refuses to live a worthwhile life, then I will live his life for him. I will be selling all his chainlink coins and putting the money in a trust fund for his college tuition.

Goodbye, and I hope your parents are as disappointed in you as I am disappointed in my son.

So how do these companies pay for all of this, and what does Chainlink plan to do with the money?
I'm assuming they pay in USD rather than LINK, but does the majority of it end up going to node operators or just Chainlink themselves? I can't imagine they would be able to do much with it straight away, so would they use the money to buy back some dumped LINK tokens?

>>54486554
Who is GMX?