/biz/ - Business & Finance

[Anonymous No.14079710]

The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.

2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.

3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink

So....

Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that.

[Anonymous No.14079722]

There is infinite amount of collateral available because the token price can rise to meet it.

Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.

The purpose of Chainlink is a network that incentives truthful data provided by individuals running LINK nodes (aka known as mining 2.0) while also providing compensation to smartcontracts just in case false data was used to trigger an agreement.

So the price will rise not only to meet the insured needs of smartcontracts but also because the LINK node miners are making money providing this service much like the price of BTC. (there are about 3 main factors that make the price rise one of them from mining and difficulty)

Its very simple.

The more LINK staked in the nodes, the more profit one can make running that node.
The more LINK staked in the nodes the bigger the smartcontract economy can become.
The more LINK staked in the nodes the more stable the network/connectivity becomes.
Finally
The more LINK staked in nodes the higher the price becomes.

We are witnessing something really special. The birth of the HTTP equivalent in Crypto.

The only comparable investment to LINK is when BTC or ETH first came about. Decentralized digital currency, Decentralized smartcontracts and now Decentralized oracle network. This trifecta will lead us into the next economic boom.

[Anonymous No.14079751]

Depending on the inputs to the smart contract,
it is imperative that the smart contract is not corrupted by “fake data”

Suppliers would have plenty of incentive to trick the OEM into over-buying components.

Wall Street short sellers would also have billions of reasons to tank the stock by interfering with and/or sabotaging the OEM smart contract.

Banking and financial industries are already plagued by fake data, with the potential for catastrophe rising as automation increases.
If the oracle is compromised, so is the entire contract.

[Anonymous No.14079778]

none of this is true lol

[Anonymous No.14079815]

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!!

THIS SHIT IS GOING TO REACH $1,000 EASILY! HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

[Anonymous No.14079830]

>>14079815
YoU aRe a MaNiAc!!!!1one

[Anonymous No.14079874]

>>14079778
I can't take the wait anymore it's killing me fuck stealth I'm gonna Astroturf hundreds of fake accounts and pay upwork pajeets to start shilling on reddit and normie places with all the breadcrumbs and screencap talking points and implications and memes
The normies will know all about ic3 and swift and accord and web3 and docusign and tamperproof entreprise oracles, I will keep reminding them how much the derivatives market is worth, I'll remind them Gavin invented solidity I'll remind them ari conceived proof of work I'll remind them nick invented bitgold they'll know Tom's digital signature idea is worth billions they'll know all about Intel sgx town crier and zeppelin and why they're so much bigger than imaginable they'll be fed all the info about how lucrative the tokenomics really shall be I promise you I will redpill every single fucking normie about jp Morgan and Fidelity being part of ic3 and how data is the new oil and smart contracts are useless without fiat relays Psd2 APIs and iot and how oracles will kick-start a new ICO boom and how all competitors including legacy enterprises will have to follow or die I'll make Twitter niggers post memes about blythe feet I'll make boomers fomo when they realize nasdaq uses bnc which uses link and I'll remind them how the now link reliant legal contract is the basis of all business transaction impacting every single fucking industry insurance construction real estate copyrights I'll tell them about fucking vinay Gupta in Dubai and who the WEF Davos globalists really are I'll tell the world about the date of the smartcontract domain name I don't give a shit anymore I can't take waking up every day to no news and no movement I can't take refreshing this board and block folio all day long like I'm bill Murray in groundhog day I legit am going insane
For every piece of fud any one of you fucks reply with to normie I'll reply with golden insight and truth bombs from hundreds of different accounts

[Anonymous No.14079883]

[Anonymous No.14079951]

>>14079722
Even if LINK were pegged to just 1% of the $13 Trillion worth of underlying asset value in the global derivatives market, then it would put the price of LINK at $130 a pop if the entire supply were in circulation (which it wont be).

But thats just 1% of the underlying asset value. If Link is pegged to just one percent of the notional value of the global derivatives market, it could put the price of each LINK anywhere between 5k and 12k assuming the entire 1 billion supply were in circulation...again, it wont be,

I mean, the notional value of global derivatives is estimated between 500 Trillion and 1,2 quadrillion.


So yeah.....something big is on the horizon. And it's approaching then the internet's network effect.

[Anonymous No.14079969]

Remember how Sergey was worried about if "some project" will have lot of network traffic and will eth scale

[Anonymous No.14080029]

>>14079969
> Hey vitalik umm do you know how to solve the oracle problem?

[Anonymous No.14080118]

>>14079710
how many times do the team have to repeat 'link will not be used as collateral for the value of the contract'. there will be a penalty system, which is a completely unrelated to the value of the contract requesting the data