Picking Apart Link Hype

[Anonymous No.13310033]

Hi IQ, Rich Anon here. I know as much or more about ChainLink than anyone here and I’m here to pick apart or prove any BS Link hype that exists. Feel free to AMA anything and I will objectively tell you whether it is true or bullshit and why.

[Anonymous No.13310058]

Will I make it with 200k link?

[Anonymous No.13310062]

And to the inevitable, insufferable grammar faggots: I know the difference between hi and high.

[Anonymous No.13310071]

>>13310033
Damn nice digits. Checked

[Anonymous No.13310078]

>>13310033

How do LINK work?

What UTILITY?

[Anonymous No.13310081]

>>13310058
This thread isn’t for price discussion, it is more for conceptual aspects, use cases, partnerships, etc.

There are countless factors that will determine the price of ChainLink in the future. If it is adopted and successful, you should make a lot of money off of 200k tokens though.

[Anonymous No.13310085]

>>13310081
Please don't spoonfeed reddit

[Anonymous No.13310087]

When mainnet

[Anonymous No.13310104]

>>13310033
First question.. how much Link u hold?
Second question.. thoughts on when main net?

[Anonymous No.13310124]

>>13310087
Mainnet is essentially ready and has been for several weeks. It will officially go live at the team's discretion. Considering there are several other parties waiting for Mainnet, I would say it is 75% likely by the end of April, 95% likely by the end of Q2.

[Anonymous No.13310127]

>>13310033
Do you think SWIFT will use LINK?

[Anonymous No.13310134]

>>13310033
Checked.

Thoughts on CLCG and /biz/ FUD ?

[Anonymous No.13310140]

>>13310127
To be more specific, is Link being used with GPILink?

[Anonymous No.13310204]

>>13310127
Yes. But I think there is a lot of misunderstanding here as to what SWIFT is and how enormous it is of an economic and political entity. SWIFT will use Chainlink for only a few applications initially (such as bond payments). SWIFT will not use Chainlink for any sort of BANK to BANK transactions immediately and those are initially all handled In House using Corda without any sort of decentralized oracle layer.

>>13310134
I think CLCG is an interesting project. I'm not sure what kind of thoughts you'd like me to give. There seems to be a lot of issues regarding the funding of the company and I'm not sure why anyone is making a big deal about it (especially here of all places, where the most inane of shitcoin projects are shilled).

[Anonymous No.13310249]

>>13310140
No, not now/initially. There are some items in the roadmap espcially that could benefit by using Chainlink however.

[Anonymous No.13310259]

>>13310033
Okay, let's say i wanted to buy some boipussi, but i wanted to make sure it wasn't riddled with AIDS and that it was tight enough to get the job done, if you know what i mean. It doesn't have to be so tight that you see a bit of rectum every out-stroke, but it's just not worth paying for if it's like fucking a bowl of whole wheat spaghetti, right?

So i set up a smart contract, huh? And it's all about how the boipussi gets paid if all the conditions are met. Thing is, this contract's gotta *know* when those conditions are met. Oracles, right? But here's the thing: who's gonna run those oracles? Medical records are already going digital, so the AIDS API should be easy. But will chainlink provide a means for a node operator to provide to the contract just how wide that cunt's gonna be after a good reaming? Or will it incentivize a business to start that a piece of meat will submit its holes to so that a licensed technician can stick a dial micrometer up its ass and get a decent dataset that can generate the force/dilation curve?

And beyond that, what kind of oracle would be required to supply to the contract that my load is dumped firmly past the second anal sphincter? Is that even feasible?

I've only got about 30k, still accumulating. But idk, man, I've got questions about the whole thing.

[Anonymous No.13310276]

>Hi IQ

[Anonymous No.13310315]

>>13310276
Refer below
>>13310062

[Anonymous No.13310322]

>>13310204
>I think CLCG is an interesting project
>There seems to be a lot of issues regarding the funding of the company and I'm not sure why anyone is making a big deal about it
Pajeet detected, fuck off
/thread

[Anonymous No.13310408]

>>13310140
Just to explain:

The initial implementation of SWIFT GPI is solely for B2B (bank to bank) transactions (not B2C, vice versa, etc). It is an add on to SWIFT NET and the data generated is largely internal. It is great for tracking payments, seding them more quickly, and choosing the most cost effective route in getting a transfer from A to B. However, not all banks are even close to being GPI compliant.

[Anonymous No.13310409]

>Hi IQ

[Anonymous No.13310425]

How many link do you hold nigga. And will I make it with 16k. You said this isn’t a price discussion but throw something out there oh mighty one

[Anonymous No.13310445]

>>13310033
blyth masters = assblaster ? if so, I love you mummy let me touch milkers

[Anonymous No.13310456]

>>13310425
This thread is for people that want to genuinely understand the benefits and limitations of the project. If you solely bought it because you're playing the shitcoin lottery and because it was shilled here and you think it is going to be used for everything by everyone, I didn't really start this thread for you.

[Anonymous No.13310464]

>>13310322
>calls anon pajeet
>threads his own comment
Nice

[Anonymous No.13310512]

1. What are the chances that another company/project overtakes Link to become the standard decentralized oracle network

2. What is the timeframe of adoption in your opinion and why

3. What do you think of the Samsung rumors (I personally think they are bullshit)

4. In general is this project as important to crypto as biz thinks it is, essentially opening the door for a massive amount of value being attributed to the smart contract framework

[Anonymous No.13310527]

>>13310464
Sir, stop

[Anonymous No.13310532]

>>13310204
>Yes. But I think there is a lot of misunderstanding here as to what SWIFT is and how enormous it is of an economic and political entity. SWIFT will use Chainlink for only a few applications initially (such as bond payments). SWIFT will not use Chainlink for any sort of BANK to BANK transactions immediately and those are initially all handled In House using Corda without any sort of decentralized oracle layer.
why shouldn't use a decentralized layer from the beginning, retarded?

[Anonymous No.13310604]

>>13310456
What are the limitations?

[Anonymous No.13310644]

>>13310512

1. I think it is very unlikely that another company will overtake ChainLink as a decentralized Oracle because they have a head start regarding networking and financing versus any other company. You have to understand, a lot of this stuff is serious business. I find it funny when people here Shill things like Kleros here because it is a shitcoin project with no industry connections. The world doesn't work like this: Small group of four guys start a project with an interestng idea and huge industries go out of their way to adopt it. These projects need to get in front of a lot of big, important, powerful people to start to be used on a large scale (and the ChainLink team has been rubbing shoulders with people for years).

2. Depends on what you mean by "adoption." I think Chainlink will have some relatively trivial use cases upon Mainnet's release, but I don't think there is going to be a resplendent smart contract environment that changes the world overnight. I think many of ChainLink's most promising and innovating use cases are going to be in the face of much larger legal battles than people realize (i.e.: privatizing certain socialized industries, making changes to HIPAA, etc). I think there are several years of legal battles to be fought and won and I don't think major large scale adoption will take place before 2022 and it may be rapid once industries start blazing a trail of legal precedent.

3. Bull shit

4. I think it is important, yes, but I think it is largely overhyped here mostly because I think people have a very poor understanding as to how ChainLink can even be used. I think there was a time when more people saw the benefits of using ChainLink. However, ChainLink isn't necessary for every Smart Contract and I think a large majority of Smart Contract projects won't use ChainLink and may never use it unless they are forced to due to some sort of oracle security breach.

[Anonymous No.13310660]

>>13310532
It's not that it "shouldn't" it is the literal fact that it doesn't. SWIFT GPI isn't using any sort of smart contract infrastructure that needs outside data now.

[Anonymous No.13310677]

>>13310033
Well you did a pretty shit job. Let me: Links use case according to its own description is to pay 80% of the tokens to people who upload news data in formats that bots cant interpret, which means that 80% of coins go from the company to the whales who sell them down onto 20% of the market, the idiots buying coins who arent being paid in them.
In otherwords: This is a very simple whale scam, buy in low, collect shekels long term off idiots who were hyped into buying it without even knowing its use case.

[Anonymous No.13310698]

>>13310677
In other other words - Link has no value to whales without an army of retards pumping its price up eternally. There is no value to the coin, it doesnt bring in money except from speculation. The coins given to whales dont mean anything, except when idiots buy them.

[Anonymous No.13310756]

>>13310644

how do you decentralize a centralized source (oracles) without trusting a third party ?

isnt that the great debate? if the data sources can be actually decentralized or not?

what is the solution for this problem ?

[Anonymous No.13310956]

>>13310756
This please. Who gives a fuck about the oracles when I can fuck with the data source. How the fuck do you even digitilize insurance data. How does an oracle know if my house burnt down or my car got fucked?

[Anonymous No.13311051]

>>13310033
>Hi IQ
Heh. When LARPs get BTFO in their first word. Actual high IQ (tested twice at 135 as a child and 142 as an adult respectively) here, all in on LINK. AMA.

[Anonymous No.13311083]

Will running a node be profitable for small guys like us? Or will it mainly be large institutions

[Anonymous No.13311087]

>>13310033
Brainlet here. Why does the ChainLink token need to exist aside from initial funding for the team? Wouldn't it make more sense to use a stablecoin?

[Anonymous No.13311110]

>>13311051
Why are you all in on Link

[Anonymous No.13311120]

>>13310756
>>13310956
This is true today, though, without decentralization. Nothing can be done about only one data source existing. The value of decentralization is that you can be more confident the input to your smart contract is whatever your single source of data says it is.

[Anonymous No.13311146]

>>13311051
I’m going to let this clever genius take over from here since he is clearly so bright and felt the need to put his two cents in before even reading the second post. You are so predictable.

[Anonymous No.13311151]

>>13310956
the local services public blockchain will have a record

[Anonymous No.13311240]

>>13311151
Umm... If it's on chain... We don't need chainlink ya know?

[Anonymous No.13311330]

>>13310124
How do you know this?

[Anonymous No.13311347]

>>13310956
Oracles are people who run istances of programs on their computers. The car is equipped with a device for detecting the fire/temperature. The device transmitts to Chainlink network the results. The network automatize the payment.
140 IQ here in RLC, LINK and holo

[Anonymous No.13311370]

>>13311240
Umm... you do if the smart contract is on a different chain

[Anonymous No.13311396]

>>13310033
So is this shit going to financially change my fucking life or not? Some of us are really dealing with real world problems down here, I kinda want some fuckin money soon :(

[Anonymous No.13311417]

>>13311347
I sold my 12Million HOLO last week for more LINK at 11k sats. Im still not sure i made the right move

[Anonymous No.13311419]

>>13310124
There are still things that need to be adjusted and tweaked for the adapters but you're 100% correct that it is ready for main net already.

[Anonymous No.13311423]

>>13310033
Timo Team putting on the full court press right now huh. My opinion of a project has honestly never collapsed faster.

[Anonymous No.13311430]

>>13310259
this

[Anonymous No.13311447]

>>13310033
So what are all your crypto holdings? Do you hold any btc?

[Anonymous No.13311456]

>>13310259
This

[Anonymous No.13311458]

>>13311146
Are you at all concerned with the lack of testing taking place on any of the testnets?

[Anonymous No.13311464]

>>13310033
I just want my life to change OP :( does that make me a bad person?

[Anonymous No.13311486]

>>13310078
> no answer from hi IQ rich anon

[Anonymous No.13311511]

>>13310408
>However, not all banks are even close to being GPI compliant.

is this related? chainlink was created especially for this psd2 shit, right? https://www.finextra.com/newsarticle/33569/41-of-banks-missed-psd2-deadline-says-survey

[Anonymous No.13311641]

>>13311120
that’s not the value of decentralization

[Anonymous No.13311752]

>>13311146
Very Assblaster like imo. Welcome back if it is you. Not feeling comfy with your comments, not overly bullish. Then again, could be a part of the final shakedown. I am keeping my stack, not selling.

[Anonymous No.13311766]

>>13310081
>off of

[Anonymous No.13312368]

>>13311087
Link is a stablecoin and Sergey has literally guaranteed the coffee standard

[Anonymous No.13312429]

What is going on with the BITHUMB link prices, is there manipulation keeping link prices down on binance?

[Anonymous No.13312458]

oh god i hate you retards. I genuinly despise you and how dumb you all are.

[Anonymous No.13312678]

>>13310033
Sold all my LINK, thanks for looking out for the little guy, don't know what I'd do if i did not have my frens at biz.

[Anonymous No.13312742]

>>13310644
Sorry anon but Kleros have already beat them.

T.contractor that helped audit

[Anonymous No.13313065]

>>13310033
I'm a season software engineer just learning about chainLink. Would it be worth my time to setup a chain-link node?

How long does it take to set one up

Should I host it on AWS or AZURE?

[Anonymous No.13313135]

>>13310033
Why not stellar lumens?

[Anonymous No.13313462]

>>13313135
fuck DB2
fuck IBM

[Anonymous No.13313988]

>>13310124


GoodDeedAnon

"I would say it is 75% likely by the end of April"

1. What makes you think Mainnet is already complete and that April is a possibilty?

and

2. If they are waiting,what are they waiting for?

[Anonymous No.13313995]

>>13310081
W-why not 100k?

[Anonymous No.13314422]

>>13313988
Thomas foolishly challenged Sergey to a burger eating competition. They bet the outcome on the release of mainnet. Sergey is cocky and knows he can hold back release. Thomas is the young upstart eager to release mainnet. The prediction depends on Thomas's performance at the burger eating competition.
After all this is clownworld and normies don't take it seriously. I mean the fourth industrial revolution began by the outcome of a burger eating competition. Are we savages to you wise anon ?

[Anonymous No.13314451]

>>13314422
The path of the righteous man is beset on all sides by the inequities of the selfish and nigger dick popsicles.

[Anonymous No.13314534]

>>13310124


What are they waiting for?

[Anonymous No.13314937]

>>13314451
Based

[Anonymous No.13315059]

>>13313065
Yes it's easy as piss. Azure if you can, but aws is easier.

[Anonymous No.13316124]

>>13315059
why is Azure preferred? average running cost ? thoughts on EaaS?

[Anonymous No.13316291]

>>13316124
He is likely saying Azure is preferred because we need more LINK holders to stake on a different network than AWS. It helps maintain a higher level of decentralization. Average run cost, no one knows yet. EaaS should be ok to use.

[Anonymous No.13316541]

>>13310033
explain this mosaic found in the tomb of an ancient byzantine temple

[Anonymous No.13317299]

https://vocaroo.com/i/s0Y57tcYff4G

[Anonymous No.13317393]

>>13311511

no-one going to answer this? really?

[Anonymous No.13317402]

>>13317393
Seems OP got annoyed with the retards

[Anonymous No.13317421]

>>13311511
>chainlink was created especially for this psd2 shit, right?
Not for it, nah
More so it was built to meet the standards requirements for psd2

psd2 is about apis, no mandate for smart contracts
Likely it will happen in time, but smart contracts are not a requirement of the current directive

[Anonymous No.13317742]

At a certain point you have to wonder:

Is it more likely that a bunch of retards that know nothing about banking, finances, smart contracts, or anything really (like those ITT) have stumbled across a trillion dollar project before a bunch of wealthy and brilliant people around the world...

...or is it a completely overhyped project that is too good to be true.

[Anonymous No.13317934]

>>13311417
How bigs your link stack now?

[Anonymous No.13318276]

Are you here to FUD?

[Anonymous No.13318345]

>>13315059
Do I just need to follow the instructions from the chain.link docuements for setting up a node?

In another thread, they were talking about you have to then make deals w/ external apis and some shit?


If it is as simple as following chain.links documentation, ill set one up

[Anonymous No.13318364]

>>13317742
You really over complicate it. It’s as simple as blockchain nodes or miners can’t retrieve data from the real world, aggregate and come to consensus. The entire blockchain would come to a screeching halt and fail.

[Anonymous No.13319347]

>>13311766

[Anonymous No.13320093]

>>13317742
Your not looking at it the right way.

Chainlink is creating a decentralized network that verifys data. Real world data that people can then interpret its answers as THE Truth. Trust less, world powered, stable network for truthful data.

Banking, finance, every industry in the world that will use smartcontracts. Just happens to need something like this.

[Anonymous No.13320132]

>>13320093
They don’t provide truth you brainlet, they just provide data that hasn’t been altered by a bad actor on the oracle level.

[Anonymous No.13320254]

>>13320093
Why would these gigantic businesses provide their data to the network?

[Anonymous No.13320320]

>>13320132
>they just provide data that hasn’t been altered by a bad actor on the oracle level.
exactly, that is the decentralization, that is why it is important, you make the case for LINK yourself

[Anonymous No.13320329]

>>13320254
because the network is decentralized you dumb fuck, that is blockchain 101

[Anonymous No.13320413]

>>13320254
For profit.

Why is Data siloed? Is a deep multidisciplanary question. Cost, and counter party risk ultimately.

[Anonymous No.13320580]

>>13320254
You pay to access their data.
You then monetize the data to anyone who wants to utilize it for a smart contract.

[Anonymous No.13320617]

>>13320320
Decentralization is stupid though. No one will want to pay to decentralize data just to centralize it again. Smart contracts are a meme and will remain a meme until blockchain cryptocurrencies are actually used in the real world which will take a long time and ChainLink still won’t be used for many applications.

[Anonymous No.13320652]

>>13320329
> hurr durr

And where does the data come from? What happens if these companies don't want to provide the data.

>>13320413
Right. But what incentive would a company like AIG have to provide the data

>>13320580
Who pays to access their data? Chainlink, or the individual node operators? and

> You then monetize the data to anyone who wants to utilize it for a smart contract

is essentially running a node?

[Anonymous No.13320703]

>>13320617
>No one will want to pay to decentralize data just to centralize it again.
Huh? Do you understand how smart contracts work?

[Anonymous No.13320743]

>>13320652
The companies are in the business of providing the data. The incentive is money. The node operator pays.

[Anonymous No.13320836]

>>13320652
Insurance and brokers already do sell data to third parties whom contract with AIG. The incentive to join CL is the dramatic reduction of back end costs to serve and secure such portals, while gaining the elimination of counter-party risks in doing so. Insurance and settlement as a consumer of oracles feeds is a more clear use case. The value of c level execs eliminating the departments responsible for the custodial network security headaches involved in dealing data, is more opaque. The argument for Why SaaS? Is similar. Why doesn't every megacorp have its own oracle department already? Appears to be your question?

[Anonymous No.13320914]

>>13320743
Got it. Data providing companies makes sense. But how does node operator facilitate paying these companies? Is it done through Chainlink or are node operators individually responsible for negotiating with their data providers?

Basically, would running a single node be feasible or would you be forced to compete against giant pools?

[Anonymous No.13321012]

>>13320617
No, you're stupid.

[Anonymous No.13321098]

>>13320914
Running a link node is like running a business.
As a node operator, you will be responsible for accessing data APIs. This will cost you money.
As a node operator you are then responsible for monetizing the data and selling your services as a trusted data provider for those who want to use the data you own into their smart contracts.
As a node operator, it is your sole responsibility of selling the data you own and making sure it covers the overhead price of acquiring the data so that your transactions are not in the red.

[Anonymous No.13321131]

>>13320617
>Smart contracts are a meme and will remain a meme until blockchain cryptocurrencies are actually used in the real world
Wow it’s almost like we have not come to this realization 2+ years ago and the reason we are so heavily invested into chainlink is because it provides smart contracts with data so they can be useful for real world events.
You’re a smart one.

[Anonymous No.13321227]

>>13320254
Moron kys

[Anonymous No.13321337]

>>13321098
Got it, thanks. Did not realize there was that much level of inviolvement required. How is the average biz linklet going to take advantage of this? Pooling services?

[Anonymous No.13321363]

>>13311146

[Anonymous No.13321366]

>>13321337
Pooling services are good if you are not tech savvy and want to receive dividends from your link tokens. Not sure how much they take but it’s somewhere in the ballpark of 30%.

If you are a US citizen I recommend not buying into any pooling services as they are classified as a security under the investment groups act. It’s just not worth having your assets frozen.

[Anonymous No.13321387]

>>13321131
The problem isn’t smart contracts not getting data...it’s that they’re useless until people want to accept blockchain currencies or assets...I.e. tokens. ChainLink isn’t the reason Smart Contracts aren’t used. ChainLink isn’t that big a deal.

[Anonymous No.13321436]

>>13321387
Fuck head. People don't want to accept cryptos for payment because they're too volatile. With Chainlink, you can send and receive payments in fiat, while using the blockchain to process the payment.

[Anonymous No.13321442]

>>13321387
Lol

[Anonymous No.13321458]

>>13321387
This is an intelligent post. I can tell you’ve done your research and know a lot about this topic.

[Anonymous No.13321567]

>>13321436
You don’t need ChainLink for that nor do you need a smart contract

[Anonymous No.13321613]

>>13321567
It might seem unnecessary to use blockchain at all if its just USD->USD through blockchain, but the benefit is that additional smart contracts/oracles can be hooked in that process for things like auto-taxation, auto-benefits and unemployment insurance collection, and could do things like pull in stats from any source to generate an ad-hoc stats derived bonus to apply in the same payout step, or transfer stocks according to a vesting schedule, which are likewise auto taxed, etc. These are but a few of the possibilities once you've structured your process around smart contracts.

[Anonymous No.13322061]

>>13321567
you don't need robots to build cars either. But they're using them. why? cause robots are more efficient, cost efficient.

like robots used for manual labor, Smartcontracts brings the promise of automatio. and with it, chainlink for data input and output.