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/biz/ - Business & Finance

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10633003 No.10633003 [Reply] [Original]

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.

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.

>> No.10633010


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.

>> No.10633016


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.

>> No.10633023


Here's an example: the staking portion of the network could have been in any asset or even in USD via SWIFT API. But it's not, it’s 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.

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.

>> No.10633030
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>See you at $2500

>> No.10633039
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Based and redpilled

>> No.10633063

>3 years

Extremely well disguised fud. But I’m not falling for it.

>> No.10633099

Good shill read. Would read again. See you on the other side

>> No.10633102
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Based and respilled.

>> No.10633125

there's a reason i've made a daily thread for quite a while saying chainlink (the network) will be a major tech revolution.

>> No.10633131

bullshit thread

>> No.10633182

My greatest hope is that frogposting linkies get btfo and lose everything

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>> No.10633301

Oh look, another wannabe AssBlaster trying to sound lucid and intelligent to a bunch of low iq kids that have lost 80% of their life savings in the last year. Good timing! We’ve got a bunch of new linktards here lately that unironically believe this will go to $1k this year.

Good idea to extend the timeline three years so we can continue to cycle through these 50%+ Pump and dump cycles every month or two. Link is literally a golden goose for anyone using it correctly.

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>> No.10633329

And yes, it’s definitely going to $2500, but I just did a huge dump today, so you better wait for it to go back down before you give me your next paycheck...I-I mean before y-you accumulate more!

>> No.10633370

Here's the thing you shills and fudders arent grasping. Nobody needs convincing. Those that believe are already in and never selling. I love talking about applications of CL, rumors, announcements, even actual criticisms, whatever; nobody holding cares about your fud or reasons to buy. Those on the fence need to research on their own just like any other investment. So I ask the dipshits that post nothing of value regarding chainlink, who the fuck are you even talking to?

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>> No.10633972

I worked for various technology consulting firms and now I'm a partner at a PE.
Let me give you the quick run down.
-99.9% of the blockchain use-cases could be done more efficiently without blockchain technology.

-99.9% of the blockchain projects could be done without tokens

-DLT is just a fancy spreadsheet. Decentralization & transparency are good for bitcoin where they operate in a trustless environment. But in the real world (that most of NEETs do not understand), there is always some level of trust. Decentralization is always a meme since someone is paying for it and will want to rule it.

-Those expensive tokens make 0 sense, even if a company would use the services offered by the project behind it, they will never buy some tokens. Hyperledger is most widely used platform for these new projects and no tokens are necessary.

-Using cryptos is often a huge burden for companies (liquidity, volatility, exchange)

-In a year top regulation (and most importantly taxes) will buttfuck cryptos

-I helped developing a few blockchain use-cases and every time the harsh truth comes back: its impossible to disrupt the middlemen because they are sitting on centuries of due-diligence and rules that makes them irreplaceable. The job of a notary or a bank can be nicely replaced with DLTs, the licenses they have make them irreplaceable.


>> No.10634169

>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.

Users will have to go to services like link Pool to purchase the oracle service for the most reputable oracle.

So you’re saying that these huge enterprises will place all their transactions into link Pool. Seems like a big learning curve or a big hurdle for adoption

Also linkies will have to work their oracle to make it valuable. So the price of your token will be that of how reputable it is.
So In theory a link token can be worth 50c and one that was been proven valuable can be worth $500.

Also, what happens when pools of whales get together and collude provide false information with their oracles. Don’t they run the potential of messing the entire enterprise and devaluing all links.
This issue will always exist since the team holds the majority of oracles.

>> No.10634206
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more like 4-5

>> No.10634456

OP works for smartcontract.com

I can feel it