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/biz/ - Business & Finance

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9752357 No.9752357 [Reply] [Original]

Interesting new LINK FUD tactic.

Someone, is so compelled and driven to take shill pastas like this... "We won’t know anything for sure until mainnet. Sergey knows that under the hostile SEC regulatory apparatus that he must maintain the idea that LINK is a decentralised utility token and not a security and once it has utility they can promote chainlink, but not before that, or it jeopardises the whole project"... and fill them with absolute gibberish and nonsense and then pasting them repeatedly in threads.

>> No.9752366

Its antifud, retard

>> No.9752379

>>9752357
The LINK FUD is insane.

ChainLink is the first project of it's kind whose goal is to provide a decentralized oracle service.

Ethereum is currently worth $1,000 because it offers trustless smart-contracts. Smart-contracts are a way to program the money to do things that's guarenteed. An example would be Bob sends Alice 500 RCN instantly when Alice sends Bob 500 REQ.

But there is a major issue with smart-contracts. Smart-contracts can only access blockchain data. In order to access 3rd party (stock prices, gas prices,weather information, etc) they need an oracle. An oracle is a service that converts 3rd party data into smart-contract usable data. An example would be let's say Bob wanted to make a smart-contract bet with Alice on the outcome of the last superbowl. The oracle that provides the game data would pull the ending score information from Yahoo, Google, NFL.com, etc then send the information to Bob's smart-contract.

The problem here is that the oracle is centralizied, and both Bob and Alice would have to trust this single oracle, which could be hacked, to be providing correct data, and because of that there is no reason to be using a guarenteed trustless smart-contract if the data is not trustless.

This is where ChainLink comes in. ChainLink will offer decentralized oracles that provide trustless data. With this system if Bob and Alice wanted to create that smart-contract they could pull information from multiple LINK nodes, and confirm they are all providing the same accurate data. These LINK nodes themselves could then pull each of their information from Yahoo, Google, NFL, etc. Because the nodes are staked with LINK tokens, if one node is providing incorrect data they would risk losing a portion of their staked tokens. LINK nodes providing correct data will be paid in more LINK tokens.

I hope this explanation clears up what ChainLink does and why it has a massive use case

>> No.9752394
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9752394

>>9752366
Its not anti-fud RETARD. Its orchestrated FUD from multiple individuals.

>> No.9752429

>>9752394
The ico had 32m cap. To buy presale you had to buy in chunks larger than 300 eth. Surely there were some bizraelis here. Now. When ico went live, the available market cap for purchase jumped instantly to 30million, leaving only 2mil left for purchase during the ico outside of presalers. In order to participate in the ico, you had to purchase minimum of 100 eth. This is where most of biz came into play. There were several pools being shared around etc, but they were mainly in the ico camp, not the presales. The remaining 2 mil market cap sold out in about 5 mins counting a 3 min site failure due to traffic. So, Biz honestly does only make up probably 5 percent or so of the link holders, not counting the few large biz whales who were in presales. Infact, 95% of the circulating supply is in the top 100 wallets.
What assblaster said was right, we werent meant to have this, and they want as much of it back as they can get.

>> No.9752452

>>9752357
How stupid are you to not realize you're getting meme'd out of your money?

>> No.9752488

>>9752394
t. Retard

>> No.9752529
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9752529

>>9752452
But... I'm x3 on my investment anon... and its been much higher than that. I have no reason to believe it won't reach, and surpass, those levels again once there's an actual product and network.