"chainlink token has no utility"

[Anonymous No.14668649]

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.

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.

Is 1000$ really possibly in say the next 3-4-5 years?

[Anonymous No.14668784]

>>14668649

[Anonymous No.14668799]

gay

[Anonymous No.14668806]

>>14668784
i must have missed this one, thank you! comfy as always

[Anonymous No.14668820]

>>14668806
No worries fren, and thanks for your info too.

[Anonymous No.14668929]

>>14668649
>at the end of the day only LINK tokens can power the network
wrong, you can use anything you want, link is just the default. Nothing stops nodes from accepting something else if there's demand.
>decentralized data to execute
chainlink is not decentralized, it relies on kyc.
>Chainlink is currently the only option
there are already several other oracles already, like iExec or provable (formerly oraclize). The witnet oracle is coming too.
https://medium.com/witnet/witnet-born-and-raised-decentralized-9701efc7f34b
There are plans to make the makerdao price oracle demand some fee when called by non-makerdao contracts.
Chainlink is just going to be one of many choices.
>it puts all the risk onto the oracle rather than the smart contract creator.
The collateral is only certain for being offline.
It's impossible to penalize a node for wrong data, you can only assume the majority is right and penalize the minority, but that's fundamentally different.

[Anonymous No.14668981]

>>14668929
Imagine spending the time writing up technical fictions like this and hoping people believe it.

[Anonymous No.14668987]

>>14668649
Of course it is possible. Facebook is going to release libra very soon and will partner with chainlink for its infastructure, This will be the news that brings us to the triple digits along with the conferences that are coming up. Libra will cover 90% of the ecommerce and data market using chainlink, This will be the start of the fourth industrial revolution. Then banks will start to implement it to use ethereum and other erc20 tokens for smart contracts later down the road. When you have companies that are worth trillions and are going to be using your tokens with staking and running nodes, The price will get higher. 1000 is fud, in the future chainlink will be as high or even higher than bitcoins price. Subsequentely ethereum will be higher than 10k and bitcoin will be higher than 100k.
BTC is the store of wealth, ETH is for smartcontracts and enabling different erc20 tokens for different purposes in society and chainlink connects everything to where it's secure end to end from crypto to bank and vice versa.

[Anonymous No.14669014]

To be fair, you have to have a very high IQ to understand chainlink. The cryptography is extremely subtle, and without a solid grasp of theoretical physics most of the tech will go over a typical plebbit's head. There's also Sergey's utopian outlook, which is deftly woven into his marketing strategy - his personal philosophy draws heavily from Russian literature, for instance. The early adopters understand this stuff; they have the intellectual capacity to truly appreciate the depths of the technology, to realize that it's not just groundbreaking - it's something deep about LIFE. As a consequence people who dislike chainlink truly ARE idiots- of course they wouldn't appreciate, for instance, the girth in Sergey's voluptuous stomach, which itself is a cryptic reference to Turgenev's Russian epic Fathers and Sons. I'm smirking right now just imagining one of those addlepated simpletons scratching their heads in confusion as Sergey's genius unfolds itself on their tradingview screens. What fools... how I pity them. And yes by the way, I DO have a pepe tattoo. And no, you cannot see it. It's for the ladies' eyes only- And even they have to demonstrate that they're within 5 IQ points of my own (preferably lower) beforehand.

[Anonymous No.14669050]

>>14668981
cope
it's 100% correct

[Anonymous No.14669094]

>>14669050
Imagine being a completely rekt and desperate market maker trying to coax OG linkies on /biz/ into selling their golden ticket early. Be honest, how close is your boss to firing your ass right now?

[Anonymous No.14669266]

>>14668987
Oh and I also forgot to add, Facebooks libra will added to use for amazon as facebook will integrate it with amazon for ecommerce.

[Anonymous No.14669295]

IOTEX is partnering up with chainlink soon
start at 1:12:00 mark

https://www.youtube.com/watch?v=lEsVe2HVuo0

[Anonymous No.14669539]

>>14668929

Unbelievable how fake this is.

People actually waste their time writing stuff like this. lol

[Anonymous No.14669971]

>>14668929
lol imagine wasting your precious time on earth to write stupid shit like this

[Anonymous No.14670534]

>>14668649
Sounds like mumbo jumbo non sensical fantasy tech talk shat out from shitstinks ass. Just bunch of fancy tech words and mashed together to sound intelligent.

[Anonymous No.14670593]

I can smell the shitstinks desperation and delusion