/biz/ - Business & Finance

woah

>>6938153
So if I staked 100 link for a year, at the end of it I would have 160 link?

P O N Z I
O
N
Z
I

>>6938153
How do I stake?
Does it get airdropped into my trading account?

>>6938504
>selling an actual product in the form of data
>ponzi because selling something is profitable
Sell now before you get ponzid.

Woweee holy shit boys looks like I am retiring at 25 very comfortably

>>6938699
how much you got?

Wow sure doesn't sound like a complete scam

>>6938153
>Any Link tokens that our nodes generate as reward, 30% will be deducted for our fee and the remaining 70% will be distributed proportionally between the stakers.

I don't know much about this, but isn't 30% too high? Or is it justified?

>>6938763
80K

stop just sitting around and waiting for shit to happen.
join a pnd group and get your gains in between long holds
https://discord.. -geegee- /ke4abPQ

>>6938484

>>6938788
FUCK OFF, DON'T DO THAT SHIT IN A LINK THREAD, LINKS THREAD ARE SACRED, DON'T YOU DARE SHIT ON HERE PAJEET REEEE

>30% fees
kikepool

>Double your stack every 20 months
>Nothing is stopping me doing this and holding with iron hands, indefinitely
>I will one day accumulate all the link in existence.

>>6938777
That is the cost of not having to set up your own node. It will probably be more profitable for you to set up your own node but currently it is not an easy task to do with the tools available. Most people won't have any idea how to do it.

>>6938540
You will likely just rent your link to a node owner rather than set up any of the shit yourself. They will take a cut on top of sergey's 30% but you dont have any of the stress or effort of having to set up a node.

>>6938849
this system doesnt seem solid

>>6938849
This is exactly why the price will rise. Companies will need link to pay for data.

>>6938889
>>6938777
There's not really any competition yet so you can expect the fee to drop as more people start staking pools.

bought link today.

what can i expect meme wise boys

>>6938917
Sergey isn't taking 30%, that's the cut of the LINK node to which you're renting out your LINK.

>>6938917
Please ignore this comment I'm smashed and didnt realise we were talking about the pool.

How is this sustainable? Where do those link tokens come from?

>>6938484
It should be calculated as compound interest I think.
so...
5% of 100 = 5
5% of 105 = 5.25
5% of 110.25...
179.59

>>6938777
More people will set up staking pools to compete for those sweet LINKies. Assuming this stops being an ERC20 token anytime soon.

>>6939001
those who consume the data pay for it in cl. assuming this thing gets adoption.

>>6938889
>>6939019
>>6938940
Okay, I don't have much options to be honest, I don't know shit about setting up a node.

>>6939004
im pretty sure its 5% of the fees not your stack

>>6939004
>we want to be able to hit 5% a month on [your initial stake]
I don't think it's compound interest.

Node operators set the price, so this will be undercut in an instant.

>>6938940
It also makes sense for it to be relatively high since later in the article they state that they will take on all penalty fees themselves rather than taking anything from the holders themselves. I was cautious about linkpool until they stated that in this article.

>>6938153
GONNA GO BALLS DEEP ON MY SKYLAKE PENTIUM ONDA MB MINER
INTEL SGX, BABY

MAIN NET WHEN

>5%/mo
>if link goes to 20 dollars i'll have 1 million dollars
>1 million * 0.05 = 50k per month.

>>6939154
I didn't read the article but yeah if they're taking all the penalty fees then 30% seems a lot more fair.

>>6939103
That is probably correct since if the others in the node also hold forever then the percentage of the node you hold always remains constant.

>>6939189
>>6939103
right

>>6939185
And what if they pull a Bitconnect or MtGox on you?

>>6939327
The LINK is in a smart contract so unless you don’t believe and trust a smart contract then you really shouldn’t be investing in LINK

>>6939358
but which oracles will validate their smart contract inputs? and which ones will validate those oracles? and which ones those other ones? when does it end? IT'S AN INFINITE LOOP OF NEEDING ORACLES THIS WILL NEVER WORK

>>6939358
I'd want some solidity audits.
Remember the DAO

>>6939358
So what you are basically saying is that it would be foolish to NOT stake every single LINK you got in your possession?

5%? That is a fucking huge amount. Good buy wage slavery.

>>6939186
>We expect the majority of the penalties by the network will be a result of node downtime and unresponsiveness instead of false data. The way our node infrastructure is being developed for redundancy and reliability, any penalty payments due to node downtime or unresponsiveness should be non-existent, we are confident enough in this respect that all penalty payments will be paid from our own “hot wallet” and would never be the stakers responsibility to pay.

I came across Linkpool yesterday. Couldn't decide if it's a scam or not.

>>6939485
bye*

>>6939509
same

>>6939065
Have you tried?
I got one up and running in <20min.
It is very straight forward if you have any Linux skillz

>>6939421
I'm gonna be a little nervous at first too. I will probably start with just 1/5 my stack lol.

>>6938153
During my many mental masturbation sessions fantasizing about Link at X% I would tell myself not to get too excited and the returns would likely be 5% a year.. but 5% a month? Fuck boys I might actually make it with only 12k LINK.

>>6939671
it's not that easy, bucko. it's not like a miner where you just set it and forget it.

>>6938153
There's no way in hell this is legit and not a scam. R-right?

>>6938153
5% a month is fucking savage.

You guys want to know the sole reason Link will moon? There's one important reason no one ever talks about..

If a company is running billion dollar smart contracts with Link as its oracle, they must see that there is a guarantee that their money is safe in this smart contract. If Link is worth only .80, that's not enough to cover the contract price. Link must be worth double digits to insure the quality of the data. Otherwise, it financially makes more sense for node operators to manipulate data in their own best interests. Such as being bought out by one side of the contract.

WIth 5% a month we're going to be fucking retired in a year or two holy shit.

>>6939509
>>6939421
>>6939327
I think it will be "safe" if it gets endorsed by the link team itself?
Before that, I don't think I would throw my links in there.

>>6939750
I don’t think that this is a scam.. but damn this sounds almost too good to be true

>linklets tired of their bleeding shitcoin fall for the worlds most obvious ponzi scheme since bitconnect, more news at 11

1K linklet here. How do I make it?

>>6939405
they all verify each other that's the entire point of decentralisation jfc

>>6939786
believe it. you truly did find life's cheat code. congratulations.

>>6939750
Pretty sure it’s a scam. 5% is way too good to be true. Even people with less than 1k could even make it

>>6939865
buy moar link

>>6939943
Don't have any more fiat to put into it

>>6938153
I used to think 4chan was like just memeing this coin for like some epic troll... same way 4chan made people sniff cyanide and shit but like... this doesn't seem to be a troll, you idiots are actually buying this shit and believe in it lol.

>>6939847
>team not anonymous
>explains how the whole system works
>ROI in bitconnect is 1.5% per day, which is more than 50% a month. This is
I don't think it's a scam, but like I said, I would like to see the CL team opinion about it.

But people think 5% is sure, it's not, read this:
>ChainLink network gaining popularity, combined with an increasing token price, we want to be able to hit 5% a month on your initial stake and believe this is achievable in the future, but initially as the network gains traction returns could be more in the 0.1-1% range (not accounting for token price increases however).

>The economics of the ChainLink network rewards system will likely need some fine tuning and time to mature so this is also something to keep in mind, for better or for worse.

>The amount of reward a user earns will be proportional to their stake on that particular node, so if a user owns 10% of all the Link on a node, they will earn 10% of all the rewards that the node generates after fees.

So 5% is just an estimation of what they think could be achieved if the link network becomes popular.

>>6939979
Hey buddy cheer up i only got 250 linkies. If there's nothing you can do about it it's pointless to stress over it. Just don't fall for the trading meme.

>>6939933
I don't quite get it. Are they claiming to pay out a interest fee for renting your linkies at 5% every month? That shit compounds too right?

I’ll stake it just like I did with my BCC, it’s a gamble you know sometimes you win some times you lose but don’t re invest your interest out that in bitcoin or eth, I’m telling you from experience I lost 30000 in BCC. No I’m not selling my BCC it’s worth 330 fuck that nigga.

>>6939979
>>6940060
same here guys i only have 167 stinkies, but just hold on!

Did anybody read?
>As the main-net is not currently live and it will be an open market, it’s currently impossible for us to derive the ROI this early on or what rewards from the ChainLink network will look like. However as we are confident in the ChainLink network gaining popularity, combined with an increasing token price, we want to be able to hit 5% a month on your initial stake and believe this is achievable in the future

I wouldn't get too exited. They have a vested interest in hyping up the ROI to get more people to sign up to their pool. Honestly this is complete bs at this stage. 5 percent a month is complete end game, years away, massive adoption. Not trying to fud just manage your expectations please.

>mfw I will be filthy fucking rich

mathfags help me out here... So anon deposits 10k linklets and recieves 5% (500 linklets) a month... he then sells the linklets for $10 on binance yeilding 5k USD worth of btc/eth? Thats pretty fucking large if accurate

>>6940060
>>6940103
Hopefully eventually we'll make it lads.

>>6940101
I hope this is bait.

Someone explain to me how they could possibly know that you get 5% a month when the mainnet hasn't even been released, there have been no partnerships, and no concrete idea of how much revenue will run through. Their node will only make money if people use it how could they come up with this number lol. I'm as stinky as the next guy but come on this is sketch

>>6938153
>>6938314
>>6938484
>>6938540
reminder this is exactly what Bitconnect did before getting shutdown because paying dividens makes LINK a security. it will be shut down.

buy TRTL turtlecoin instead

TRTLv3gdmg2SQxA3Df8pkKSRWpQnEidudfyY1oE9v4XyZhPgWHpTbeRg4rWaZLni7oJ4xtSn9S7wQa2P61L1nhdiJUu3FszJpFw

>>6940127
Thats what they claim, also don't forget that your initial investment of 10k will rise in value too. It sounds too good to be true, but I'm not sure.

>>6938153
Notice how OP vanished and is laughing at you gullible fucks from afar. You guys are morons, I swear.

>>6938945

>>6940111
You are not FUDing, 5% is so outrageous that re-affirming ourselves that it will be lower increases legitimacy.

>>6940202
how did I vanish? fuck off bub

>>6940127
Read above
>>6940053
>>6940101
To be fairthey explicitly say "we want to be able to hit 5% a month, but at the beginning returns will be around 0.1-1% range".
So it's not that much "hyping". More like realistic, if link reaches the adoption we all think it could achieve.

>>6940175
LINK was just flagged by the New York state investigators for being a securities when they released this. Enjoy holding the next bitconnect you stupid fuck

>>6940175
true, 5% per month compounding is literally impossible and ponzi tier

>>6938484
>Mexican intellectuals

>>6940245
>>6940178
Mate, the accumulation phase is over, stop.
And your fud is 0/10.

>>6938889
Nodes are ez AF

>>6940175
They said that it’s target in future. Not short-term

>>6940023

Do you think your relationship with your wife would be better if you didn't constantly think about fucking every hot girl that walked past you? HODL what is dear and what you get in return will be more than you could possibly imagine.

Fucking cuck

>>6939774
While not endorsed, the link team knows about it and guides people asking about it towards the right people. In this case Hodges points to jonny who is a link pool developer.

>>6940353
Again what are they basing that on? There is no actual data for chain link use yet so they couldn't possibly have evidence

>We want to be able to hit 5% a month on your initial stake and believe this is achievable in the future, but initially as the network gains traction returns could be more in the 0.1-1% range (not accounting for token price increases however). The economics of the ChainLink network rewards system will likely need some fine tuning and time to mature so this is also something to keep in mind, for better or for worse.

Did you guys gloss over the 0.1-1% part? Can't tell if you guys are stupid or just pretending anymore with LINK threads

>>6939074
This

>>6940178
http://www.chosis.com/main.php
hey quit your fudding

>>6940403
we make more money with more use of the network. of course at the beginning it'll be small returns. duh

>>6940178
Hi Faggot-san, it won't be the Chainlink team who will be paying these dividends. Have a nice day Faggot-san

5% monthly compound means 10x of your initial investment in 4 years. LOOOL

>>6940540
You gain according to the % of links you have stacked, so if everyone just stacks what they make it's not compound because everyone will keep having the same %.
But it's very variable so...

>>6940111
The thing Is the realization that most stinky linkies myself included won't ever sell a single link. Think about it. There are anons that bought pre-sale or ico and never sold their links and never will. Even if the Roi is 1% monthly or less if the staking nodes prove to be safe we would have passive income for life. Even sub 1k linklet s would be able to escape the wagecuck life. It sounds too good to be true.

>>6940637
wot?

>>6940689
Nothing... just... buy link.

>>6940732
this.

This is so exciting, even if its way less than this 5 percent number , it will incentivize huge companies to buy insane amounts of link to host their own node, as they will in a way receive reimbursement, ... if we really adapt to mainstream, those links are going to fucking vanish into the hands of billion dollar companies, link is already hard to acquire, and its crazy to think of the price boost (with these millions of coins off the market) that link will receive if we really get mainstream adoption. sorry for the fragmented sentence, im so excited

>>6940689
He's right. It's not compound. Anon A and Anon B each stake 100 LINK. Their LINK earns the pool 10 link in rewards. 30% goes to the pool and the remaining 70% is given to them, so each gets 3.5 LINK.
Now they both have 103.5 LINK. Their LINK earns the pool 10 link again and both of their stakes are identical so they both get the same amount again.

Unless more link in the node results in more assignments and thus more returns, which is not impossible, or someone withdraws lowering their stake it does not compound.

>>6940679
>mfw you don't need to sell your links to invest in something "safe" and get 4% every year because LINK will be the most safe investment and will give guaranteed ROI every month to live a comfy neet life.

>>6940766
>>6940679
and with what you said, link is going to be insanely more valuable, im 20% in might just go 60 or 75 percent in right now.

>>6939421
This. We should bug them about getting a full quantstamp code audit. No fuckery

I'm happy with half of 5% a month. Fuck I'd be happy with 1%.

>>6940689
Let's say stinky 1 has 9k link in it and stinky 2 has 1k link in it. Let's say 10k stinky linkies get paid to the node that month. Stinky 1 gets 450 stinky linkies and stinky 2 gets 50 stinky linkies. Next month stinky 1 has 9450 of the stinkiest linkies and stinky 2 has 1050. Both of the stinkies have the same percentage as last month so if the node gets 10k stinky linkies, stinky 1 will once again get 450 stinky linkies and stinky 2 will get 50.

>>6940779
this sounds correct and good. this isn't some unsustainable ponzi scheme. we are beginning to see the decentralized oracle network take shape. Like a universe being born. the price singularity, it ain't no joke, people. i can't imagine what it's like to be a no linkie at this stage. i honestly can't.

I don't fucking get it, 5% of what exactly?

>>6940916
of links

Johnny Huxtable pulled those numbers out of his ass and the fact that you people give them any credence speaks to the idiocy of this coin's community. I'm surprised Sergey and or Steve haven't denounced this yet. If they've seen it, I'm sure they're laughing.

I'm a pre-saler but you guys are putting the cart before the horse big time. Chainlink still has many obstacles ahead, and it's even worse if you consider potential competitors.

>>6940875
Damn so every 20 months we can enter another node with a same number of links and begin receiving double the rewards. fuahhhk

>>6940779
Exactly. As time passes and the mainnet is adopted the node reward measured in links will decrease because most likely the value of the fees will be tied to (ugh) fiat for some time. So perhaps initially the reward minus fees will be 10 links @ 50 bucks each and a year later 1 link @ 1000 bucks each meaning you earned ten times less link than before but 2x in market value

>>6940779
More LINK in the node would help it's reputation, so it may not be compounding in the pure sense, but it will increase.

>>6940916
of your stack. the money is coming from fees people are paying the link nodes to access their data.

>>6941011
Oh so why are some anons saying it's 5% of the fees?

>>6941043
they are mistaken and/or FUDsters

>>6940973
Well not quite. I made the assumption that the node would be paid 10k links per month. If that same node were to get 1k per month instead then stinky 1 would only get 45 links per month. I think the "5% of initial investment" that they threw out there is a terrible way to look at it since it all depends on how much people are willing to pay for your node.

Johnny Huxtable pulled those numbers out of his ass and the fact that you people give them any credence speaks to the idiocy of this coin's community. I'm surprised Sergey and or Steve haven't denounced this yet. If they've seen it, I'm sure they're laughing.

Watch the top tier staked nodes be whale exclusive and have a barrier to entry in the hundreds of thousands. My guess is that in there will be competition to even be able to stake on a node.

>>6938153
>but initially as the network gains traction returns could be more in the 0.1-1% range

>>6940973
Actually now that I read it what I said in >>6940875 is completely false. Disregard it.

>>6940970
Did you read the article? he mentions that it's an optimistic number if adoptions gets very high, and actually says "the economics of the ChainLink network rewards system will likely need some fine tuning and time to mature so this is also something to keep in mind, for better or for worse."
>>6940053

>>6940879
We are dealing with massive Ifs this years.
IF the tether fraud isn't exposed and btc reaches sub 5k or 1k with a year long bear market.
If ether can replace BTC without a market crash and Casper goes without a next DAO
IF Jihan doesn't pull another flippening attempt
And finally IF Sergey and that Chainlink team can deliver the network properly And we can reach mainstream adoption without losing momentum to other competitors (no one in sight yet).
If all those things come to pass I can't even think the effect Link will have in the world in general and this board in particular. I won't talk prices, muh Lambo s or make it stuff. It will be a mind blowing, heart warming and life changing experience.
I don't care if link makes me rich. I can pull that with some shitcoins.
I truly want them to deliver. Even if price wise another coin outperforms link

>>6940387
>link team
Isn't it just two people? Wtf

>only 350million LINKs can be mined

What happens when they're all mined and nobody runs an oracle node any more? They should have made it 350 billion.

>>6941664
what happens if they run out of that amount

>>6941664
>>6941708
At that point the whole chainlink network collapses on itself, destroying countless financial institutions that decided to use it's system, generating losses of billions and billions of dollars in an instant.
>mfw sergey is actually an anarchist and this was his plan all along

>>6941664
>what are decimals

2k+ link here please tell me I am going to make it....plz

>>6941708
>>6941776

I think you guys are memeing, but I'm being serious... does "difficulty" increase like with PoW's? Are they forced to buy them on some meme exchange and hope that it's economically feasible otherwise drop it? I thought newer coins with like 18 decimal places thought this stuff through...

>>6941980
>getting .000001% of let's say $2 per coin

>>6941664
Do these people really not know that link isn't mineable

>>6941997
Wait you weren't meming? You can't mine link you dingus. All the tokens have already been created. Nodes get paid in link and in no society will enough people hold so that there are exactly 0 links in circulation.

>>6942047
Then they wouldn't be using fucking decimals if the price was that low.

>>6942052
This, fucking thank you.

>>6938807
laughed at loud kek