/biz/ - Business & Finance

>>7716892
>>7716780
Thanks for the forks and bumps but if anyone has a serious answer or comment to the discussion I'd love to hear it

Congratulations, you are capable of thinking for yourself and understanding why ChainLink won’t succeed in mass adoption.

>>7716974
I'd love to hear why I'm wrong though. I think in certain applications it can work, but for a basic contract like I implied in OP I feel as if though legacy contracts would be better

>>7717043
You’re not wrong you stupid fuck I said everything you wrote was correct.

>>7717119
I-I just want my möbius to make
Me rich ...

>>7717139
Neither mobius nor link will make you rich anon.

>>7717188
I'm inclined to agree with you until one of
These delusional stinky pinkies answers my question

Muh link marines can't even make a decent arguement against it

>>7716752
>>7717119
>>7717236
you're jumping ahead to legacy contracts, like trade finance and supply chain management, which ChainLink is not directly targeting right now, because they involve multiple contracting parties, and "subjective" inputs.

The actual initial target market projects like LINK is going after are 100% data-driven digital agreements, like derivative trades between only two parties, that can be resolved with objective data inputs, and then payments can be made automatically via secure payment messages.

Insurance could follow after that, and then trade finance will take longer to tap into, because of the legacy systems in place and the need to transition over will take time.

In the mean time though, a significant amount of digital agreements can be automated via a smart contract, and they need secure inputs, and secure payment messages, in order to be tamper-proof for large contracts. Hence, the need for a decentralized oracle network.

Now you can do more research and decide if that seems feasible or not. But don't try to jump to the most unfeasible option first

>>7717309
this

>>7717309
Thank you for your answer I will research more on the subject

>>7717309
>>7717458
I should add that the more you move away from subjective inputs that require more human input/dispute, and move toward objective data: like shipping arrivals and confirmations, weather data, market data, interest rates etc., then you're moving into the territory that a smart-contract can greatly reduce cost and save time/money for both parties. Even in the case that the smart-contract cannot be used for the entire agreement between two or more parties, it can augment or improve the process. If you cannot see how digital agreement automation in this field is going to be one of the biggest things to come out of the crypto space, I don't even know why you'd bet on crypto as a whole to begin with. What else is going to save corporations time and money on this level? We're talking about multiple departments worth of overhead.

Now the trillion dollar question is, who will get a monopoly on this market. Ethereum? BTC? Or the middleware between the blockchain world, legacy world, and data providers, payment providers etc. Middleware looks promising. So why LINK? Well they're about to lock in onto their first sub-market of digital agreements, which we speculate will be data-driven financial agreements like in derivatives. IF they establish themselves a nice strong network effect in that sub-market, they will have a monopoly that could grow into adjacent markets. If that happens, you will see pink wojaks of the like you would have never imagined by corporations, because they will lose a LOT of money if they don't jump in on that network. So, if anything, watch the fucking space closely and don't miss it if they do pull it off. I'm not saying go all in. I'm saying think carefully and watch the space.

>>7717584
I appreciate the in depth answers as I've been researching möbius and when I hear smart contracts I think of them as the most basic like in OP when that of subjective inputs would be the most complicated to get to work from the sounds of it

>>7717642
Here's a good introduction to understand the potential and the future of smart contracts:

https://youtu.be/kW27zYIxZhY

I haven't done enough research into Mobius, so I'm obviously biased toward ChainLink, hence I use it as an example, and recommend that vid.

But I will say this: the fools that are fighting/FUDing each other, and even the trolls that are pretending to for fun, they're wasting their time. The more important thing is to understand this technology, because it is going to change the world, dramatically. Best to prepare for it now, so that you don't lose your job, and rather profit from the revolution. I personally believe we will see the likes of consensus based UBI, world-wide-investment indices, and the opportunity for all the unbanked to invest in emerging technology with their pennies of savings - dramatically boosting the global economy. So don't fall for the low, pleb-tier fighting going on on this board. Think bigger. Good luck

>>7717043
>>7716974
no you're definitely right. There are many situations where smart contracts and chainlink would not be the best choice. But there is more than a big enough market that is to make chainlink huge.

>>7717836
If I run a chain link node providing the weather in a certain place can I source the data from the internet, like the UK weather service?

>>7717836
it's amazing that video exists yet people still say "why doesn't sergey say chainlink during presentations." The video is all about the fucking chainlink network.

Also the first 3 minutes are all about moving literally moving smart contracts beyond tokenization so it looks like the speech this sunday will be little more than a rehashing of what he said here.

>>7718013
it's all about utilizing APIs, hardware and data-feeds, etc., of your choice. I don't have a deeper grasp beyond that, so best to request an invite to the chainlink slack, or hop on the gitter lobby, or thodges on youtube. There's tons of info out there. But the more you look into it, you can see why this is the future: data is 21st century oil. Reliable and secure data inputs are critical. Secure payment messages are obligatory. No centralized oracle service will be able to pull that off without being a massive target for attacks. Hence, why a decentralized oracle network is necessary, not just some gimmicky fad.

>>7718089
It depends; more people need to be exposed to it, so it's a good foundation. What's for sure, is that his SXSW talk will not be. He will be talking along side big players, associated with Docusign: automating legal agreements. Check it out

>>7718163
I agree. This winter the public got exposed to the blockchain meme in the mainstream media but even though eth stayed number two you heard very little about smart contracts, that'll come and even if assblaster is a larp he's no doubt right that there will be smart contract frenzy where it's the new buzzword and you'll see everything that briefly mentions it moon and companies that claim to be using them or change their names to reflect it jump in stock price, just like with what happened with blockchain.

if one Link was 100 USD, what would the market cap of LINK have to be then?

>>7718284
With 350m circulating supply, $35bn, so just under the market cap of ripple right now. As always, there are a lot of factors at play: pooling, LINK held on nodes, LINK circulating via corporations etc. The point is that if it gets to that stage, it's not going to be under $1bn lol.