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/biz/ - Business & Finance

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11521151 No.11521151 [Reply] [Original]

Your Link wallet on binance isn't actually a personal wallet. The amount of Link on there is just a number. Anything that is stored on Binance is held in a number of massive Binance wallets.

So why take off your holdings? It's simple. Binance's bots use your own Link to manipulate and suppress the price. By withdrawing your Link, you take away some of that liquidity. It can also be anticipated that they will use your Link run nodes when mainnet is out. This would eat up a large chunk of the node marketshare, and they would be earning even more Link.

How should I go about doing this? Buying a ledger (directly from the manufacturer ONLY) is probably simplest way for those who are unfamiliar with more elaborate methods. Ledger is compatible with MEW. You could also just store them on MEW. Link is an erc token and is stored in the Eth wallet. As always, research how to do everything safely and securely, and always do a test send before sending your full stack.

>> No.11521203

>>11521151
Sound advice. Binance bots manipulate the shit out of a bunch of coins. Not just Link. Control your own property. Don't lend it to others so they can shove a dildo in your ass.

>> No.11521249

Just read a gox story. Imagine that was you, and your link

>> No.11521280

Never store coins in exchanges. N E V E R

>> No.11521291

Pretty fucking pathetic that link shilling has come to this OP. Heavy bags I suppose?

>> No.11521400

Bump

>> No.11521601

>>11521151
i have a ledger s nano. the eth wallet storage worries me bc its not displayed inside. is there a guide out there that correctly displays how to store link in a nano s ledger, and view the balance inside?

>> No.11521621

>>11521151
>eat up a large chunk of the node marketshare, and they would be earning even more Link
they distribute neo gas fairly

>> No.11521628

>>11521601
My nano is getting delivered today. Id like to know this too.

>> No.11521669

>>11521601
would really appreciate a clear, up to date, guide on the steps required for chainlink on binance --> ledger nano s. A simple 1, 2, 3, 4. It would be to share for others as well. lets get all the chainlink off binance.

>> No.11521692

>>11521291
It’s like you’re not even trying anymore. I’m super fucking comfy with my link bags the past 6 weeks.

>> No.11521750
File: 1.69 MB, 212x212, 542524DD-375B-4CB1-9416-0B07A82F1A65.gif [View same] [iqdb] [saucenao] [google]
11521750

>set up ledger
>acquire ETH address
>paste ETH address in binance to withdraw, first test with 10 linky
>check balance/transactions by pasting address in etherscan.com, interface with wallet using MEW when you want to sell (never)

>> No.11521908

>>11521669

1. Buy/set up Ledger on PC. Use LedgerLive software to install/update Ethereum wallet app on the device.
2. Using the Ledger device, navigate to Ethereum wallet app and choose settings, then enable contract data.
3. Go to MyEtherWallet.com, access wallet via your Ledger passcode/pin. Once logged in, change display settings to show all token balances.
4. Withdraw LINK from Binance to this ETH wallet address. Do a small test run first to avoid getting rekt.

>> No.11522467
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11522467

>>11521908
great

>> No.11522484

I'll do it tomorrow

>> No.11522540

And don’t blow your wad at $3 or $5, let the demand meet the price you’ve waited for.

LINK supply will shrink really fast once all is setup ... only way around that is an increase in the token’s value.

>> No.11522553

>>11521291
its one fucking guy that has no life.

>> No.11522554

Im scared that fooling around with private adresses while on internet will be seen by a hacker and shit

>> No.11522574
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11522574

Also how is it legal for them to do this? Isnt that like the bank using my money but giving me nothing in return?

>> No.11522582

>>11521151
bump

>> No.11522588

>>11522484
don't give these ledger kikes money. download metamask. memorize your seed words. transfer everything to metamask. delete metamask from your computer. bam. just saved you $80.

>> No.11522595

>>11521908
Thanks, saved

>> No.11522614

>>11522574
A shitcoin exchange isn't a bank.

>> No.11522621

>>11522574
Are you implying that banks aren't doing this?

>> No.11522635

>>11522614
sick dude thanks for the helpful information

>> No.11522694

>>11522574
these are the people giving you investment advice

>> No.11522751

>>11522621
This! Holy shit dude, >>11522574 should read up on our financial system!

>> No.11522837
File: 1.02 MB, 498x258, tenor.gif [View same] [iqdb] [saucenao] [google]
11522837

>>11522574

>> No.11522873

I have all my LINK in a wallet except my LINK that's locked up in orders wayyyyyyyyy above the market on Binance.

>> No.11522930

>>11521621
Not the best example, Passive staking of coins is one thing but building a node to be used by external data requests is another. Not that Binance won't do that, they will. but whether they pay the users for holding it remains to be seen.

>> No.11523122

I keep 10.6k link on binance for selling pumps. The other 30k is on trezor. I like being able to sell a pump even if im at work. Wouldnt be able to do this if it was all on trezor

>> No.11523530

can someone give me the chain link redpill from start to finish? i have no idea what i'm doing -- i need cash before the CA apocalypse

>> No.11523620

>>11523530
All you have to know is that for a smart contract to be fully decentralised, it needs a decentralised oracle. The only serious decentralised oracle is Chainlink.

>> No.11523737

>>11522588
export your private key. most important thing of all. if metamask goes down you can still use the ethereum client to access your tokens.

>> No.11523827

>>11522588
Why uninstall it tho

>> No.11523932
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11523932

>>11523620
Thank you my friend. how do I got about investing it? Got good instructions? I have literally never invested in crypto. Thank you for the help!!! God Bless

>> No.11523964
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11523964

>>11523530
we just win

>> No.11524070
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11524070

>>11523964
wewlad

>> No.11524335
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11524335

>>11523932
Alright mate, seeing as you're /pol/ and I want /pol/ to be the new financial elite I'm going to help you out.
>first you need some BTC or some ETH
>most people buy this on coinbase
>there may be other websites that are preferable depending on your country (do your research on this part)
>send your BTC or ETH to binance.com (ETH is better simply because it's quicker and transaction fees are cheaper)
>trade your BTC or ETH for LINK
>store your LINK how this anon has said >>11521908
Remember: a single link token will be worth tens of thousands in the coming years. Keep hold of it and together we can build a better world. Let me know if you have any questions.

Also if anyone from reddit is lurking: disregard everything I just said, it's just a meme.

>> No.11524451
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11524451

Any body use the new MEWconnect app on iPhone? Just as safe?

>> No.11524676

Remember to stake your LINK on a node once mainnet goes live (next month)