This post is too long, skip it

[Anonymous No.10612404]

Now that the retards are out of the way, here's a little comfort in these times:

Peter Lynch discusses back testing stories for how your investments will pan out. if you actually take the time to do this for smart contracts, you'll come to a number of conclusions that aren't discussed here because most of you morons don't have the patience to think deeply.

Namely:

- Trust is an asset of a transaction which costs resources
- Just as other technologies have decreased the cost of food, electricity and entertainment, smart contracts will decrease the cost of trust
- There will still be varying levels of trust needed and varying cost tiers for those levels of trust

...

[Anonymous No.10612412]

I'm actually more qualified to talk about this than most anons.I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.

Now I can already hear your keyboards going frantic, but hear me out. /biz/ hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.

'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have reputation, but in real life not on a computer screen.

The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. Only, this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.

[Anonymous No.10612428]

i kind of get what youre saying

[Anonymous No.10612453]

>>10612404
Most of you, despite your great efforts to research chainlink, don't understand what the real value of the network is, and more importantly, who will benefit most first from its use.

If you took the time to think about the team and the problem, you'd notice that they both point in a single direction: towards high-value, low frequency transactions with easily externally verifiable data triggers which have parties with an extremely large incentive to act at least partially dishonestly.

People are talking about automated payroll and IOT like these applications make sense at current. They don't, because the technology has decreased the cost of trust 100x, not 100,000,000x. The first people to use cellphones were the ones who could afford 20 bucks a minute because they made more money off that communication advantage than it cost them.

...

[Anonymous No.10612492]

Bunch of 4channers tried to force it as /ourcoin/, during the presale ico phase of chainlink there was a minimum requirement of 300eth to enter the presale. Bunch of anons pooled up together and shared presale links to fill them with their eth.

Coin continued to get shilled and pumped up and hyped for the sibios event that link was attended, whole event turned out to be a flop chainlink had a presentation in a room of like 18 people next to the public toilets, literally no news or partnership came from the event and the coin dumped back to below ico prices and created 1000's of bagholder anons.

Now during this alt bull run lots of anons and took advantage of this and shilling this coin to all the new money and newfags that joined in december and don't know this story.

The coin is HEAVILY manipulated and the supply is dried up from huge whales who accumulated below ICO price to create a artificially lower supply (a lot like REQ) and these people have so much room to dump on all of you faggots to still be in profit when the time comes.

In regards to actual project that chainlink aiming to achieve it's nothing more than a basic json parser for smart contracts, would take like a day to add to ethereum by itself.. literally making links whole concept pointless and definitely no need for a token. Would take a lot longer to get it working with bitcoin but the bitcoin core devs would be able to work out the solution a lot quicker than chainlink will, think that's something worth noting that literally nothing is completed and you're literally just buying a whitepaper, they have only 2 developers and they don't communicate at all with no proven background on either, in fact sergey was involved in a project before chainlink called NxT that he since been abandoned until it was took over by a new developer team

[Anonymous No.10612493]

>>10612412
>>10612404
these posts are less than a minute apart

?

[Anonymous No.10612539]

>>10612453

Continue.

[Anonymous No.10612541]

>>10612453
Everyone thinks the technology unrolling in front of them is somehow magical, but this is literally just another technology: it takes something expensive and makes it lots cheaper. Every other tech follows this path: the people already paying huge amounts for that thing buy up all the early uses and then things trickle down. Think again the adoption of the cell phone or personal computer. For the most part you don't need to have a trustless relationship with your employer, but if it cost you 5 bucks a year to make sure you couldn't get screwed by them, you'd pay it.

The rich first adopters we're talking about here are really stupid fucking rich. Think reinsurance, credit default swaps, basically anything that could transfer asset sizes big enough to wreck institutions. They literally give zero fucks whether their contract costs 100 or 1000 dollars in ETH, they'll just pick the most trustless solution, which will be a public, distributed ledger not run by any entity.

Think about it from the perspective of someone buying a credit default swap: right now their options are to buy the swap knowing that the writer will do everything legal under the sun to delay payment in the event of a payout in order to secure a position first. From your perspective as the purchaser, you losing even a month or two on that payment could end your branch or even your business.

Right now your only options are to buy the swap and take that chance or to go naked, because there are literally no entities that you can trust to act in a perfectly forthright manner, no matter how many lawyers you hire.

...

[Anonymous No.10612555]

The link delusion continues. Imagine being the person who believes that a gypsy russian with a philosophy degree and no programming experience is going to instantiate a global, paradigm shifting economic system where banks and other entities are going to willfully funnel hundreds of billions of dollars into and sit around idly while said gypsy russian and his family of neet fags take profits.

Now imagine being the person who believes that the worlds banking cartels, with arguably some of the most brilliant computer scientists out there, are going to sit by and let a gypsy russian take profits they could have had by using a simple JSON parser.


Consider this snippet from the following article:
[https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/10736960/High-frequency-trading-when-milliseconds-mean-millions.html]

"No wonder that Spread Networks, the company building the fibre-optic connection, proudly boasted: “Round-trip travel time from Chicago to New Jersey has been cut to 13 milliseconds.”

And HFTs were willing to pay through the nose to use it, with the first 200 to sign up forking out $2.8bn between them."
These fucking jews spend billions of dollars just to get a 13 millisecond improvement so their algorithms can get the data faster. So you're telling me that if there was any money in the chainlink area these guys wouldn't be all over it? Get the fuck out of here.

So explain to me why this is going to work again? Or is it just a PnD like 99% of other crypto's out there.

[Anonymous No.10612575]

>>10612404
$2500 EOY

[Anonymous No.10612591]

>>10612555

checked

>>10612541

enjoying this a lot so far, op. thanks for posting.

[Anonymous No.10612635]

>>10612541
There are a million more points that could be made to this effect. You're looking at this project from the outside having no idea what the real needs of the target audience are. They don't use twitter, they call and get a warm greeting before the third ring.

Which brings me to the best part of this post: you stupid fucks have no idea how good Sergey is. Look at his track record and what everyone who has ever worked with him says. The smartest people in the world, the ones who actually dictate your life and the rules by which you play are always three things: smart, quiet and determined. Look at the caliber of people who have lined up to work for him in a fucking startup. Think about what he's posted in his (albeit) very limited social media imprint: he's definitely a guy who believes in changing the world for the better and also for giving people willing to out in the effort a shot in life. If you actually dissect how the chainlink token works and how the network value incentives work, it's done with investor value in mind.

Here's an example: the staking portion of the netowrk could have been in any asset or even in USD via SWIFT API. But it's not, its in a decentralized erc677 token that literally anyone with half a brain could buy. Why does staking matter? Because in order for the network to function, one of the paths of malfeasance has to be blocked by the staking of collateral. That staking value must be at least equal to the value of assets being transferred in these contracts. And the first users of the network will be people with large value transactions and low trust environments. It is harder to make a network like this, and he added this additional degree of difficulty not because he's a sadist, but because he is intentionally throwing a bone to anyone willing to look deeply into the tech.

...

[Anonymous No.10612650]

understood. continue please.

[Anonymous No.10612657]

So basically... Chainlink holders are delusional retards.

[Anonymous No.10612660]

fucking yes x1000 bro keep going

[Anonymous No.10612699]

It's been confirmed time and time again by people on the team, that it takes no LINK to run a node, so the idea that 'most LINK will be locked up in nodes' is not true. If anything it'll be the opposite, with LINK constantly hitting the market as node operators get payout.

So it seems safe to say that the total supply will actually be pretty similar to the circulating supply. Even throwing LINKies a bone and saying circulating supply is 750 million, that means to reach just $10 it would need a market cap of 7.5 billion dollars, aka a x75 of value. Generous growth in any market, impossible in a bear market. $100? 75 BILLION DOLLARS. The same currently as ETH, XRP, BCASH, and EOS put together.

As for $1000 EOY? Now that is the saddest story of all. Conjured up by little LINK corporals that want to be multi millionaires, and little Linklets that want to be any kind of millionaire. There's no other reason to dream of such a ludicrous price that only a handful of coins could even reach during the greatest crypto bullrun of our times, let alone one with such a huge supply. The only coin I've named with a similar supply to LINK is EOS, which barely broke $20 at it's peak. Enough for the whales of /biz/ to turn a nice profit (assuming even that happens), but gives just scraps for all the Linklets they've deluded along the way. If you aren't following the math by now, it's a 750 billion marketcap by the way. Just shy of a trillion dollars by itself, not even including the rest of the crypto market. Worth almost as much as Apple... Jesus christ this would be sad if it weren't so FUNNY

[Anonymous No.10612702]

>>10612635
I know less than 1% of this board will take me up on this but here's one of my best investment vetting secrets: for anything you're thinking of putting more than 1% of your portfolio into, make a handwritten timeline of how the project came about, who joined when and look into any discrepancies. These little inconsistencies generally reveal one of two things: non-public information that is bullish or non-public information that is devastating to the project. If you're investing with that knowledge while the entire rest of the base is reading reddit, you will destroy the market long term. If you do just that for chainlink you'll find a bunch of stuff that nobody has yet posted on 4chan. If you don't want to, don't bother. Just sit on your hands and get rich in three years. Sergey is one of the smartest guys alive right now. He could stick his dick in the mouths of most fortune 500 c suite players and triple their IQ. Money wise, he's about to.

Have a good night frens

[Anonymous No.10612750]

>>10612702
you made my day. i've been in this since September and have tried to poke a hole in every crevice, every nook and try to find weaknesses. The only hard part is the waiting.

[Anonymous No.10612758]

want to, don't bother. Just sit on your hands and get rich in three years. Sergey is one of the smartest guys alive right now. He could stick his dick in the mouths of most fortune 500 c suite players
Namely:

- Trust is an asset of a transaction which costs resources
- Just as other technologies have decreased the cost of food, electricity and entertainment, smart contracts will decrease the cost of trust
- There will still be varying levels of trust needed and varying cost tiers for those levels of trust

...the technology has decreased the cost of trust 100x, not 100,000,000x. The first people to use cellphones were the ones who could afford 20 bucks a minute because the fucking jews spend billions of dollars just to get a 13 millisecond improvement so their algorithms can get the data faster. So you're telling me that if there was any money in the chainlink area these guys.

[Anonymous No.10612773]

>>10612699

bluepilled

[Anonymous No.10612789]

>>10612453
>>10612541
>>10612635
>>10612702

Senpai thank you for the bedtime story. Very clever I'm going to save it, goodnight fren

[Anonymous No.10612811]

>>10612702
ps- there are about 15 of you that make this place great. its gotten to the point where i can tell who you are. maybe ive been here too long.
keep posting. fuck the attention whores, shills, and all the rest of the fags here who dont matter. i for one appreciate you.

[Anonymous No.10612865]

>>10612541
smart anon

[Anonymous No.10612867]

Good night fren

[Anonymous No.10612881]

>>10612867

Based. Immortalized.

[Anonymous No.10612904]

>>10612702
I liked your story, but let's just segue right into the meat and testicles of this thread where random anons ask you what other random coins meet the criteria you lay out here, and then you can throw us breadcrumbs like "All the letters of the token can be found in a popular 80's cereal brand name, and the team works in a country with child labor laws stricter than vietnam's but more lax than senegal's."

[Anonymous No.10612943]

>>10612453
>>10612541
>>10612635
>>10612702
>>10612811
s sergey?

[Anonymous No.10612946]

[Anonymous No.10612958]

>>10612453
>>10612541
>>10612635
>>10612702

>tfw im not smart enough to understand the actual real world and have been raised by construction workers and think like one

[Anonymous No.10612960]

>>10612699
No shit, but anyone who thinks this is going to 10 dollars is under the impression that the crypto marketcap is at 5 trillion or more. BTC is at 100k, etc.

[Anonymous No.10612971]

>>10612699
You are literally retarded, fuck off

[Anonymous No.10612984]

>>10612943
>>10612958
Take your pills you dumb nigger.

[SAGE No.10612988]

>>10612958

How many Link do you hold? Keep accumulating and it doesn't matter. Expose yourself to new ideas and perspectives. Read everything on everything.

[Anonymous No.10613004]

>>10612988
im at 18k. Honestly idk know were to fucking look. for me its literalyl like living on another planet. You wanna know how to fix your car no problem. You wanna know how to install cabinets gotcha. I feel like im on fucking mars trying to learn all this shit.

[Anonymous No.10613008]

>>10612702
Thank you anon, you are based as fuck and made me extra comfy tonight. Have a wonderful evening!

[SAGE No.10613015]

>>10613004

Can you give me some more of your background, level of schooling, and so on? I can give you some books and places to start, but honestly Anon I have just about 18K too so we're both sitting comfy. Everyone has unique skills, you were fortunate enough to buy CL so be thankful for that anyway.

[Anonymous No.10613018]

>>10613004
You will unironically make it marine, God speed to you and make sure to invest in your family and their health when you are rich. We can make this world a better place.

[Anonymous No.10613027]

>>10613004
this is one of the reasons that LINK is so contested both here and on reddit and the real world. it's a paradigm shift which leads most people to believe it's either brilliant or fucking stupid. only time will tell frens

[Anonymous No.10613031]

You faggots are being played like a fiddle. Anyone can dish out hopium just as well as they can dish out fud.

[Anonymous No.10613036]

>too long, skip it
Done. Came here to post that I didn't read past this part. Also OP is a faggot

[Anonymous No.10613064]

>>10613015
parents own small business owner in construction. They worked all day so raised by grandparents. fucked around in high school because i was lazy. Passed by hard work at the last minute. Being doing odd jobs to survive since then.

>>10613027
im willing to risk it though. In general this place is pretty good at being the first to any party. Im smart enough to know that at least

[Anonymous No.10613110]

$2500 EOY check em

[Anonymous No.10613158]

>>10612811
I appreciate you.
It takes modicum of empathy to allow others with the drive, lacking the direction, to feel nourished with insight and confidence that information. Real honest to goodness information, is yet to be attained and still out there to be discovered.
God bless you anon.

[SAGE No.10613160]

>>10613064

Just don't sell too soon. However iron your hands were getting here, they'll need to be stronger for our next phase.

Keep learning and working hard though, have strict morals and read as much as you can you sound look a good dude, glad you're one of us.

[Anonymous No.10613251]

>>10613064
One thing I recommend, there is a book series by Encyclopedia Brittanica called the great books of the western world.
You may have read a few of them, you probably haven't read them all.
I think this a good place to start, I think you've already made it.
You got this anon... I believe in you.

[SAGE No.10613275]

>>10613251

Honestly good idea but some of them can be dry - a lot of my trades friends I recommend just reading whatever it is they enjoy to build capacity for reading at length and eventually they'll move to different areas of interest - you never know which random piece of knowledge you'll tie together from past read knowledge to help yourself one day

[Anonymous No.10613407]

Taleb's Antifragile and Skin in the Game made me skeptical of that shit and I have two bachelor's degree in math and cs.

If you want to learn, learn what you want. Just learn everything you can about it. Know a lot about something you like and know how to know when people are doing bullshit like using science wrong. even so-called scientists fuck this up- see the Richard Feynman graduation speech. Google for something like Richard Feynman + "the planes don't land" if I remember right. That gives one example of someone who was a real scientist explaining in plain terms one thing that's wrong with science - especially social "science" - these days.

[Anonymous No.10613421]

>>10612699
You're right I should just sell into this convenient pump right now before it dumps below 3k sats.

[Anonymous No.10613440]

>>10612702
Are you Carter Thomas? I recall one of his episode where he talked nodes ROI and mentioned chainlink, remarked that "these guys are here in San Francisco" and would check them out. never said a peep again. Makes me wonders why he ever spoke about them again.

[Anonymous No.10613482]

>>10613407


https://www.youtube.com/watch?v=GNhlNSLQAFE

[Anonymous No.10613546]

>>10612635
>That staking value must be at least equal to the value of assets being transferred in these contracts.
This is the only part I don't agree with. Staking penalties have to be high enough to strongly disincentivise a node from providing an incorrect answer, but they don't have to actually be higher than the transactional value of the contract. The method of node selection will determine the risk of collusion, and high value contracts will benefit from using a wide range of nodes. I anticipate that single transactions worth hundreds of millions if not billions of dollars will be executed with Chainlink as the oracle, I don't think nodes will have billions of dollars worth of collateral to stake.

[Anonymous No.10613585]

>>10613546

Would you risk a million dollars to gain an edge of 2 million dollars?

What if someone builds up a nice rep and exit scams to get an edge on the other side of a billion dollars?

I guess the hope is that the network nodes are so diverse and decentralized that they'd nullify the fake API data and buddy would get penalized for nothing.

[Anonymous No.10613643]

>>10613585
That's exactly why a decentralised network is important. So that it's far, far more difficult to game the system. If you don't know the answers coming from the other nodes (thanks to the commit/reveal function) and you don't even know how many other nodes are providing answers and who is running them, then it's extremely difficult to collude and submit incorrect answers in order to fraudulently execute the contract. You can basically immediately see from this example why a centralised, trusted oracle service would never be used for the sort of high value contracts that Chainlink is targeting. You can also see why, say, $100,000 of collateral would be plenty for a $100 million dollar contract, because you would be risking $100k AND your reputation (ie: ability to earn money in future) on a total gamble that the other nodes you had colluded with were enough to make a majority.

[Anonymous No.10613663]

>>10613160
i paid for some of my bags at.89
>>10613251
thanks for the link looking them up now.

>>10613275
this is my problem now. Its hard for me to pick up a book and read it long enough to get into a good habit.

[Anonymous No.10613704]

>>10613663
If you're looking to read to understand investing just read this book:

"Margin of Safety" by Seth Klarman. Its free on the internet. Heavily influenced by Warren Buffett but more modern.

[Anonymous No.10613743]

>>10613643

Very well explained. Thank you for that - having the commit/reveal function is a necessity.

I recently read Flash Boys by Michael Lewis and it generally talks about HFT and firms gaining an edge of fractions of milliseconds over each other so they could front-run orders and put themselves in good positions.

I imagine if everyone is connected to real-time immediate market data (the same market data) this can't be done anymore - is this a tertiary usecase for Chainlink, a primary one, or what do you think?

[Anonymous No.10613951]

>>10612412
I'm actually more qualified to talk "nabaut this than most anons. I'm employed with wanpela cyber-techno machinations company, i asua, hevi wanpela lot of security analyst programming type work. Open source, decentralized, apis, partnerships, you name it. We'd be one of the first companies in line for something like chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's wanpela catch though, wanpela underlying flaw more deeply embedded in the bedrock of link than the very code itself. The flaw is with the concept, karamapim tok it's this: companies won't actually go through the hassle of trusting their data api's through crypto.

now i can klostu hear your keyboards going frantic, bamim hear me out. /biz/ hates banks, karamapim tok traditional data providers. Bamim actual companies, businesses, karamapim tok investors asua, hevi not. There's wanpela old saying you might have heard of: "if it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in wanpela smart contract on wanpela cryptocurrency called chainlink, that they've never heard of, we'd be laughed out ami rum slip karamapim tok fired on the spot ami worst. We klostu have api data buyers karamapim tok providers we trust.

[Anonymous No.10613966]

>>10612412
>>10613951
'but chainlink is trustless!' i hear you tuptup, bamim is that really wanpela good thing? just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustless, they want something trustful. 'but the reputation system!', doesn't that defeat the whole point of your i pas? if companies only trust nodes with high reputation, what's the difference between trusting banks karamapim tok data providers that klostu have reputation, bamim in real life not on wanpela kol , kolpela screen.

the fact is, link is going to share the same fate as eth will. Wanpela lot of 'real world application' hype, with wanpela lot of 'crypto world application' reality. Only, this billion supply i pas isn't going to man bilong nambis Ekelesia to the $1k that etherum hit. Happy gambling though anons

[Anonymous No.10614071]

>>10613951
>>10613966

your step-mom made me a pie
you can call me the pied piper

[Anonymous No.10614378]

>>10612867
Thanks. Most high IQ post I've read on here in awhile. Thanks OP.