/biz/ - Business & Finance

>>9014567
Lol. Talking shit before main net. Eff off Fudboy.

>>9014567
Can someone unironically consiesly explain to me what this token does and what is its value?
> inb4 read the whitepaper
I tried, but I don't understand what the fucking token is supposed to do. I understand you need to communicate with the outside world, but where does the chainlink token come in?

>>9014567
get the fuck out cuck boy

>>9014597
tfw you commit a bannable offense and ensure many more LINK threads to come which you can't respond to over the next few days

Looks like it's time to buy Mobius which is on a +20% growth

>>9014582
You know how certain bots or bitcoin tax asks for your exchange account’s API key? Then they can import the information to their site and do things with the data.
ChainLink connects real world applications to things on the blockchain.

>>9014582
Read it again. The answer is in the whitepaper. Don't be lazy or else some sociopath anon will lie to you and you will believe him.

>>9014597
b&

>>9014620
PREPARE FOR GLORY

>>9014582
I'm going to throw you a bone since you're asking about link and not some faggot chink coin. The link token will be used to stake on nodes, and will be used to pay the nodes for work.

>>9014567
I'm so glad they're going to end up poor. Nobody deserves it more for shitting up /biz/

>>9014650
It's even on audiobook for those with marginal literacy. You have to be deaf and blind to miss out.

>>9014620
>>9014657
>implying the söymods will do anything about it
>implying the söymods aren't faggots

kek

>>9014567
Popularity does not equal superiority. I don't know how else to describe this to you fucking loser NoLINKer Fudders so I'll use a classic analogy:

Remember in high school how you didn't get laid, and the jocks pushed you around? You were at the bottom of the food chain?

Remember how when you turned 30 and were making 6 figures a year while they worked shitty garbage pay jobs and went home to their loser lives?

Same idea.

>>9014567
I just scrolled through 50k link threads today. You are insane if you think threads are dying down.

>>9014718
why is nobody seeing links potential outside of biz. You know when Ether was new even the retards at /r/buttcoin were discussing it.

>>9014751
Because it's a shitcoin ERC20 token developed by two people with no future?

>>9014718
>Linkies can't defend their shitcoin on technical merits so they resort to using tired stereotypes and analogies
the absolute state

>>9014773
This. LINK is biz's way of culling normies. It's a 100% shitcoin.

>>9014773
sergaaaaaaaaaay can simply not afford more developers. He only got 30 mil dollars and could give out hundreds of millions of coins to devs (which will be worth thousand dollar each in the future) but this is not enough for more hires.

Oracalize does all of this.

>>9014751
because chainlink does not advertise itself. it has no self hype. /biz/ is literally the only place that hypes this project. Sergey will be the next Gates, Zuckerberg, Jobs.

>>9014582
they're trying to build a decentralized network around centralized oracles

Lmao these retards actually thought we had hundreds of thousands of linkies. Good luck retards.

Is it really ranked 101 already?? kek that was fast

>>9014813
Ether did not advertise itself. All the hype came from community all over the internet.

>>9014751
because it has no fucking potential you faggot. It's literally nothing but paid shills shitting up this board for months now hyping up their flavor of the month shitcoin with no product, and no tangible use case. I can't fucking WAIT until it gets delisted from binance which is the only reason this shitcoin has any value in the first place.

>>9014824
That's the part I don't quite get.

>>9014695
Of course it's not gonna be from one single API. Instead it will be several APIs observing the same situation happening in real life, which could result in variations.

onions tier coin

>>9014828
its literally a paid discord shilling it

>>9014875
we cant central oracles service acces several apis.

Why can the smart contract not average the results of centralized oracles itself?

What if there is only one source (like a bank account) which is the most often case?

>>9014580
mainnet does nothing, its the same bullshit like the singularity meme linkies use to justify their cult

>>9014861
because it doesn't make any sense. without a market for oracle data, all they've done is complicate a system that we already have a solution for, with cryptographic signatures.

if they had gone the augur route they might actually have a claim at being a decentralized oracle.

Never really believed in LINK but I won't lie....I got over 1K LINKs for suicide insurance just it case it ever mooned, and I refuse to ever get rid of it unless it hits $10

>>9014751
also, >>9014785

>0 hype
>absolutley 0 marketing
>new tech, majority of people don't know what half the shit they're invested into anyway does, how can you expect them to know why the fuck a decentralized oracle is so groundbreaking? You fuckers can't even see that
>bear market
>it is discussed here and there passively in youtube videos and tweets
>it took 1.5 years for people to see eth's value

To be fucking honest, it makes absolutely 0 sense why Link isn't in the top 20 right now. In the short-run, markets are stupid and irrational. In the long-run, they make sense. Link could completely fuck up (no partners, not enough nodes, etc) and it would still be worth more than half these other bullshit projects.

If you aren't holding, or trying to accumulate at least 10,000 at this point you really are retarded.

>>9015006
I kinda pity the chainlink cultists. All the coin targets are pople not understanding how crypto (no currency) works. It gives them the illusion of being few of the visionairies who foresaw ethereum, cause CL is a technical solution (to a non existent problem).

The best way to gamble on smart contract adoption is Ether, EOS, Cardano etc, cause those will be needed.

>>9014567
I don't know how this faggot thread got through my like 6mo filter but this makes me happy. Do you all see this was a psyop? pfh

>>9014828
speak for thyself thee of african descent

>>9014669
Linkies will change the game of everything in the world. You have no excuse to miss this.
When Main net launches and all the big partnerships announce , the memes will drop all over normie media and the fomo will commence .

>>9014597
sauce?

>>9014861
>>9014824

Eh. Google managed to revolutionize large scale system design by building reliable systems on top of unreliable systems. Building a decentralized system on top of individual centralized systems sounds way more feasible, desu.

This shit is not a meme, and it has potential.

Honestly I hold a small stack just so if the combined autism is correct I will not neck myself. Its worth 100 bucks for a potential moon shot.

i bought some so naturally it will fail and i will never be happy.

>>9014567
Oh look, biz was wrong again as always. REQ and LINK are in the shitter while Carano has doubled even though it's a fairy dust according to biz.

>>9015870
So glad I didn't buy REQ. Unfortunately I put like $6k into LINK like a dumbfuck. God damn I should have put it into XRP. Fell for the memes.

>>9014567
ChainLink, more like LainChink amirite

>>9015474
You realise it's highly unlikely they'll announce partnerships, right? ChainLink won't have partners, it will just have users. Google doesn't have a "partnership" with every company that uses its products, it just has users.
The word partnership has been diluted to complete meaninglessness by the Chinese projects anyway, so it's not something to hinge your expectations on.

Link is a thought experiment by a philosophy major. A theoretical concept without real world parallels - or use.

>>9014567
I am more confident than ever that link will make many of us millionaires.

I hope you all realize that when we reach the singularity and normies become aware of chainlink, word will spread that /biz/ was the only place that saw it coming and we will get a massive of influx of normies hoping to find the next ETH/LINK that ruin this board forever.

>>9015951
when i make it i wont be spending time on forums anymore

>>9015951
as if that hasn't already happened and this board isn't dog shit.

>>9015905
correct, but what do you call it when, say, SWIFT provides chainlink nodes for its member banks as their default blockchain interface, a project which they have been quietly nurturing themselves for years? not exactly a user relationship.

HAHAHAHA it's gone up three places since OP made this thread. Absolutely BTFO

>>9016230
Yes, four, I know.

>>9014582
It connects blockchains with each other and real world APIs via decetralized oracles. It is also blockchain agnostic. The underlying coin (LINK) serves as incentive for the oracle providers.

>>9014597
ah reproductive hole and excrement hole

>>9014695
The original data source isn’t a single point of failure. The original data source is the information you want.

Here is my thought:
Not selling my stack untill 10th Jan 2022. Have 15k Link, 30k Req and 1k Omg.
How 'bout that?

>>9014679
Why can not they be able to stake with ETH token ? Why do they need to create new token?

>>9016650
Because new token do more thing than eth because it not erc20 :)

>>9014567
This unironically happened and I chuckle every time I see some retarded chainlink thread lmfao

>>9014695
the people entering into contract determine the # of API's consulted.

For high value single points of data, town crier will be used, the project supergod ari juels is working on.

>>9016718

>>9015101
Ethereum has essentially been a #1 to #5 coin since it began trading
ChainLink hasn't been even beyond top 40

things to keep in mind

>>9015101
kek. this isn't your run of the mill currency shit coin. this is enabling real world data onto a blockchain. without it a fucking blockchain is a meme. it is literally useless. LINK will be as big as BTC in its own way. screencap this and remember this post in 2020.

>>9017225
are u a fukn ant

>>9017188
Yeah and there were like 6 coins in total back then

So since CL is ERC-20 token then explain to me how in the world can it ever do millions of tx/s? The API economy and different blockchains will be so huge, so if this works as the middle man but still operates of ethereum network which can't scale then how can we ever think it will be succesful?

>>9017777

Checking myself.

>>9017777
Holy fuck

>>9014582
>>9014632
>>9014650
>>9014679
>>9014687
>>9014824
>>9015474
>>9015951
>>9016451
>>9017225

all these answers and yet no good understandable explanations only vague shit ones lol

>>9017917

>>9017995
Just kys delusional bagholder

Anyone interested in hedge funding? Building a network here

>>9017777
checked and kekked

>>9014848
You are fucking retarded.

>>9014597
>not putting it in that ass
why lmao it literally begs to be fucked

>>9017917
Time will tell faggot

>>9017917
Retard literally you know how Stacy’s are too braindead to make a wallet and all that shit? ChainLink LINKS information from whatever blockchain needed to the cutesy Hallo Kitty Freemium Game she has downloaded on her phone.

>>9018657
Right now blockchain sort of exists in a bubble where only die hard fans autistically look up every project, and each new one that comes out is “like THIS but BETTER!” Or interacts only with things on the chain/ uses that blockchain. Look at the crypto reviews on YouTube, 200 views compared to like 2,000,000 for tranny makeup reviews. Every block chain right now as I see it is some obscure single use case where everything has to already be built on that chain. Chainlink... holy shit I just got why it’s called ChainLink lmao I’m exit scamming this post. It’s too late at night to continue this thought

>the oracle problem

honestly crying right now
cant even sleep

Been in since October

>same old FUD
>same old brainlets
>winter bubble /nubiz/ brainlets struggling to understand anything

I wonder why anyone involved in LINK dev stays as far as possible away from this shithole

See Sergeys face in his pic with LA CREATURA from SXSW for example

Nah we fine could careless if I lose 30,000 USD....r-right?

>>9014582
Linkies are good boy points. If you're deciding something about a contract and you behave poorly you lose good boy points if you're a good boy you get good boy points. And the idea is that some smart contracts will only trust the bestest boys. It doesn't have to go that way, maybe someone wants all boys called Chad in charge that are at least positivie on GBP or whatever their GBPs are. But if all the Chads are naughty and something goes wrong then all Chad lose is GBP.

> But what if I'm a good boy but all the other kids tell lies and I lose GBP and they get my GBP.
Then read the whitepaper.

>>9018869
Great British Pounds are now Good Boy Points.

>>9014582
the fact that normal people cant understand LINK is the biggest bull flag i can imagine. Its similar to you trying to undestand ETH 2 years ago.

>>9015870
Its easy to get your head around Cardano after 12 months of hearing what Ethereum can do. Muh 1000 tx speed of ethereum.

>>9019209
Nigga how retarded are you. All the someone explain me link posts come from linkers hoping that other linkers post their copy pasta for explanation.

>>9014582
also people keep talking about the fucking coin. its the oracle network thats insanly valuable and LINK is the coin to fuel it.

>>9019244
Nigger Oracle to you mongchops.

>>9014687
ChainLink whitepaper is on audiobook? Where? I'd listen to it everyday where is this

We are so fckin screwedd.

>tfw too lazy to fud

>>9015951
then I can finally be free from this place

Funny that whatever all these shitcoins build, it can be straight copied to a smart contract that accepts a coin with wide adoption like eth, btc or bch. And then everyone will use that version because why lose money exchanging to another shit token.

>>9014582
First of all, fuck you lazy asshole.

Also a lot of shitty answers baka...

Basically anon, nodes get asked to retrieve data from APIs, the person that needs the data to feed the smart contract with data from the API can specify the minimum required quantity of link staked on the nodes.
If the coder selects nodes with higher amounts of link staked, then the information must be very important and it's absolutely critical that the data fetched from the API is correct, otherwise you'll lose the staked link.

If the data that your node fetched is correct relative to the other nodes then you get rewarded with more link.

THIS IS GONNA BOUNCE SO HARD. $1000 EOY

>>9019332
Just use a regular database, crypto is a meme.

>>9019544
for
>>9019432

>>9015474
>>9017225
>>9015917
>>9015951
>>9015474
lmao the delusion, keep holding, the singularity will struck and it will reach 1k in a single daily green candle

Tks jst sld 100k

>>9017470
What is blockchain agnostic?...

>>9019624
It means it doesn’t really believe in blockchain per se, but is open to the possibility.

>>9014848
I hate link as much as any sensible man, but suggesting linkies are paid shills is retarded. It's been 6 months, and this shit has flatlined all the way compared to ETH. Do you seriously think anyone would hire shills over SIX MONTHS and keep doing it after absolutely no result? Occam's razor applies.
There's also a level of discourse beyond the usual shills, it's obvious many linkies are channers and not outsiders.
More likely scenario: memes + shitposting + localized cultural phenomenom feeding on itself.

>>9019724
I don't know if you're unironically posting as a brainlet, but if you aren't baka desu senpai

>>9015951
Every linkie is a latecomer who missed bitcoin in 2014 and ethereum in 2016
Life is cyclical

Why would any pro trader hold LINK atm? LINK is gonna stay at about the same price(or grow with the market) until mainnet when LINKs are gonna be locked in nodes, companies are going to be using ChainLink and everybody will be realising how huge this project is since they can actually see the demand for it. Before that happens there is literally no reason to hold LINK if you are a good trader that can see when something about to take off and analyse the fundamentals.

I'm holding some LINK for suicide insurance, but I'm gonna try make some money with VEN, INT and TRAC and maybe some other coins before I'm gonna go all in on LINK.

OH NONONONONO

>>9016650
If you have to rely on a 3rd party currency that defeats the entire purpose of it being completely decentralized.

>>9019932
Lol how is INT going to make money?

>>9019845
By this logic you're saying stinkies are actually going to be rich.

>>9014580
>main net
who cares. it won't work. they couldn't code frogger let alone an oracle solution. dumb nigger bought the meme

>>9019932
someone on biz actually knows who will create the oracle solution. sorry linklets, phd computer fags will btfo sir gay the big mac philospher

I’m not a faggot link holder
But this isn’t the first time it’s happened. Chainlink dropped out of top100 in November or sometime before the bull run

>>9019383
kek this

>>9020795
You’re right, the github looks looser than a hookers asshole, just sold 100k thanks

Nah we're fucked. I'm actually starting to believing nobody gives a fuck about the oracle problem and they'll just use centralized services like we always have why switch it all up now it's easier. People are used to putting convenience and speed over security and privacy.

>>9017225
this guy gets it. the whole blockchain is a meme without chainlinks decentralized oracles

>Be Sergey at business meeting giving pitch

... so that's why if you are running a blockchain function that requires external information, you need an oracle service.

CEO: ok, and you provide such a service?

Sergey: Yes, through decentralized nodes.

CEO: ok great, and you ensure the accuracy of the off chain data?

Sergey: ...no.

CEO: wtf? So what happens if we get incorrect data?

Sergey: the node operator loses LINK tokens.

CEO: Who is the node operator? What the hell are LINK tokens? Barbara, get me Oraclize on the phone.

Oraclize: Hello?

CEO: Do you provide blockchain oracles?

Oraclize: Yes, proprietary ones specific to your needs.

CEO: Do you ensure accurate off chain data?

Oraclize: Yes.

CEO: Great, book it. Sergey, you and your LINK tokens gtfo.

>this kills the linky

>>9022472
uh huh sure

>>9014567
Well op you weren't wrong about that. Especially with what vechain just dropped

>>9021408
Yeah because Link is the only team working on decentralized oracles.

>>9022544
with SWIFT, AXA etc

>>9022544
isn't it the only one that aims to be agnostic?

>>9021341
>I'm actually starting to believing nobody gives a fuck about the oracle problem
People who actually want to use oracles realize that link is a flawed idea due to lack of data verification.
What would you use if you had an actual business idea:
- link, which can - maybe - penalize false info with loss of stake post facto. Your business is still destroyed.
- a centralized oracle service that has insurance for the event of causing a loss from supplying incorrect data.
The answer is obvious.

Normies don't even know what an oracle is. That leaves a very small group of people smart enough to understand what an oracle does, but not smart enough to understand why link is a flawed idea.

>>9014848
>>9014773
>>9014824
>>9014800

People like these are most likely to suicide by cop when mainnet launches I think. No conscious thought, no logical thinking or decision making, just pure, unfiltered emotions being puked out of the mouth of someone who barely understands the only language he speaks

>>9022738
isn't the point that it's not a centralized point of failure even within the nodes(stupid way of putting it maybe)..

even if one node delivers the wrong data, there can(and probably should) be more nodes, so all that happens is one node is gone, since the majority of nodes tasked with this data, delivers the proper information.

>>9022855
I mean, there are multiple nodes tasked to retrieve the same data at the same time to the same request source, so it's not one node.

>>9022738
https://www.finextra.com/newsarticle/31978/fake-data-will-make-banks-vulnerable---accenture

>>9016647
fuck thats some juicy omg stack. but req is pretty shitty

thread is just pure FUD. It's funny how you noobs are falling for it. Learn a thing or two first.
>>9017817

Pic related, also sage

https://twitter.com/vechainofficial/status/987721063156015104?s=21

>>9016647
sorry to inform you anon but you literally just got completely BTFO of 45k coins.

it was right in front of you the whole time.

>>9014582

>>9022855
>isn't the point that it's not a centralized point of failure even within the nodes(stupid way of putting it maybe).
Data sources are inherently centralized. A company can have several servers, which makes network availability equivalent to several link nodes. That's not decentralization, that's distribution.
Data sources in demand can start signing their results, which would obsolete middlemen services.

>>9022955
What? Do you know what link does? It relays data. It does nothing about validity at the source.

>>9022994
this is the kind of thread i was talking about
>hodl guys hodl or you will regret it, the price will go up! ,the singularity will happen anytime now!
those threads are aimed at emotional investors
it only applies to coins / projects that have future, remember that most of the coins will go to 0 and only legitimate projects will prevail

>>9022738
Dude verifying the data is not the responsibility of the oracle. It's a separate concern. Data sources can provide signed data.
The benefit of the network here would be a higher likelihood of availability. More nodes = better availability.

>>9014582
The answer is that there is no need for the token and it has no value proposition. Notice how nobody can adequately explain why the token should have significant value, particularly since onchain exchanges make it possible to instantly buy and spend tokens in the same transaction.

>>9021408
If it was THIS important more projects would be working on it, not just link.

>>9022738
You're a fucking idiot. In the case of a centralized oracle two things can go wrong: the oracle itself can fuck you over, and the data source can fuck you over.

In the case of LINK the oracles can't fuck you over by design, they are 100% safe. If some oracle does their job wrong the other oracles still provide the correct data and you get free moneys from the failed oracle in the form of their staked LINK and you still get your job done.
When the source is wrong in the case of very secluded, specialized data you demand compensation from the source. Simple. LINK was NEVER meant to solve the issue of true data, IE not knowing if the source is correct. The oracle problem and the true data problem
are two entirely different things and you're retarded for thinking they aren't.

>>9022472
>CEO: ok great, and you ensure the accuracy of the off chain data?
please read again what oracles are being used for