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14933139 No.14933139 [Reply] [Original]

In your own words, what gives Chainlink it's value?

>> No.14933143

>>14933139
bigmac

>> No.14933145

>>14933139
big mac sauce

>> No.14933155

fundamentally memes

>> No.14933157
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14933157

Memetic confluence

>> No.14933158
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14933158

>> No.14933160

>>14933139
It solves the lambo problem

>> No.14933168

>>14933139
Be back in 30 minutes, so far not a single anon knows what gives LINK it's value

>> No.14933170

Verifying data off-chain. However, when data can be verified and aggregated on-chain, Chainlink will become worthless.

>> No.14933178

>>14933168
Literally every answer above yours is 100% correct.

>> No.14933192

>>14933139
It isn't about fiat replacement it is about completing transactions in a trusted automated manner that will improve efficiency across the world in many business areas. The value to companies is huge... In summary.... Vertical.

>> No.14933205

>in YOUR OWN WORDS

Blootz vloggin pindergrass dyshe flavinche pood poody poozer

>> No.14933206

>>14933170
??

>> No.14933214

>>14933192
So why does it ever need to increase another cent?

>> No.14933241

>>14933139
It makes it so that smart contracts can be executed using off-chain data on a decentralized network where the trustworthiness of a node is based on how much LINK is staked there.

>> No.14933252
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14933252

>>14933205

>> No.14933280

>>14933214
It doesn't. Don't buy any. Thanks for playing.

>> No.14933285

>>14933205
This but unironically

>> No.14933415

>>14933139
virgins on /biz/, kek

>> No.14933515

WELCOME TO THE TRUST MARKET

>> No.14933588

>>14933139
Without chainlink a smart contract has to rely on a single centralized point of failure (the oracle) which defeats the whole purpose. If a smart contract, regardless of what platform it is built on, is to remain trustless and highly secure, chainlink is required.

>> No.14933598

>>14933139
FOMO of twitter nigs when they see the parabola

>> No.14933650

It has a cult following that is going to allow me to easily sell the pumps

>> No.14933661

>>14933139
the value is in the blockchain, just like vishnu

>> No.14933680

>>14933214
It will as a result of minimal supply vs widespread adoption. Price has to go up as circulating supply gets stretched. Supply vs Demand.

>> No.14933685

>>14933588
Can you come up with a practical example?

>> No.14933709

>>14933685
If a plane is late some faggot comes and gives you $50 like straight away and you couldn't do that before.

>> No.14933711

>>14933680
16 decimals for a reason, you were blessed to get in early.

>> No.14933717

>>14933139
infrastructure of the 4th industrial revolution

>> No.14933727

>>14933139
the fan base of highly autistic neo nazi's who refuse to sell under $1000 is undoubtedly the only thing keeping this shitcoins price above $1

>> No.14933734

>>14933139
trustless smart contracts
the internet of blockchains
automation
payment in any currency

>> No.14933742

>>14933734
bonds, derivatives
staking
collateral
big corps (google, oracle swift, microsoft)

>> No.14933752

>>14933139
fake partnerships/breadcrumbs. the tech is vaporware, literally has zero users even though the mainnet has been out for 6+months kek

>> No.14933758

>>14933752
mainnet was released on the 30th of may retard.
thats like 1.6 months ago

>> No.14933814
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14933814

It's a paradigm shift on how we enforce contracts. This is as revolutionary as the printing press or the gunpowder revolution. If you thought BTC was going to make bankers shit their pants and make governments powerless you still can't even fathom a hundredth of the impact functional smart contracts are going to have on human society. And ChainLink decentralized oracles are the last piece of that puzzle.

Anons who truly understand this will never sell, not even at the fabled $1000 EOY price. BTC is a speck of dust compared with what's to come.

>> No.14933859

>>14933139
Active Participants
KEK, Link is so fucked

>> No.14933862

>>14933139
4chan memers

>> No.14933935

>>14933814
based marine, you obviously are an early chainlink adopter, that's how we all think. glad to see we are still here.
NEVER FUCKING SELLING

>> No.14933942

>>14933859
Thanks for the tip John! Just sold 100K. Fundamentally, it'd be a good idea if you actively participated in a murder suicide with you, and those that are closest to you in the gene pool

>> No.14933951

>>14933814
>Anons who truly understand this will never sell
Why, because it would be more profitable to stake?

>> No.14934010

>>14933942
https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets

No thanks to the murder suicide offer. Besides, who would be around to show linkies reality.

>> No.14934031

memes

>> No.14934054

>>14933951
you don't even realize the full extent of link. bankers will literally suck your dick in the future, because you own a fucking % of the world GDP.
selling link is literally a blasphemy to your future self

>> No.14934062

>>14933139
Man it's like oracles, bro. People will run nodes from home to help Swift send money.

>> No.14934118

>>14933205
1,000,000,000 IQ post

>> No.14934175

>>14934054
...so staking is the way to go?

>> No.14934197
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14934197

>>14933139
>The job of an oracle is to provide true information to smart contracts.
>Oracles only accept payment in Chainlink
>Oracles earn Chainlink if they provide true information
>Oracles lose Chainlink if they provide false information
>People are willing to pay money for true information
>Nobody wants to pay money for false information
>As long as the oracles provide true information, Chainlink will increase in both usage and value
>If oracles provide false information, it reduces the usage and value of Chainlink
>Therefore all oracles have an incentive to provide true information because it maximizes their revenue and maximizes the value of their assets.

>> No.14934202

>>14934175
remember that when you stake your links, you can't withdraw them.

this is amazing because people wont sell and the circulating supply will dry up.

so of course staking is the way to go. it's literally a full time job. you can live olike a king with it

>> No.14934218

>>14934202
Well, it depends on how good staking returns will be...

>> No.14934231

>>14933139
Esoteric numerology

>> No.14934239

>>14933139
Every startup in the blockchain.

>> No.14934250

in theory, his philosophy is fundamental

>> No.14934267

>>14933170
When/how would that happen? I thought the whole value of chainlink was to write real world events onto the blockchain. I hope that doesn't sound retarded.

>> No.14934305

>>14934267
it goes wayy beyond that read this
https://blog.chain.link/town-crier-and-chainlink/

>> No.14934363

>>14933168
>>14933139
Honestly, it's mostly speculative as of right now but it has GIGANTIC potential. 4th industrial revolution potential. Also, SWIFT has already tested LINK to execute bond payments with 5 banks.

>> No.14934383

>>14933139
the massive amount of bagholders refusing to sell out of delusion and emotional attachment

>> No.14934565

>>14934305
That's interesting, I'm interesting in learning the actual language this stuff is written in. I have a bit of knowledge about coding but I doubt this is written in like Java or C

>> No.14934575

Marmalade

>> No.14934581
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14934581

Literally nothing I'm fucking losing $300 dollars every time it dumps another two cents why did I FOMO in why why why aaaaaaaaaaaaaaaaaaaaaa.

>> No.14934593

>>14933139
>in your own words
>doesn’t understand memes
>hint: ideas are never your own
>will never make it

>> No.14934613

>>14933139
Anybody else ever take a step back and think wtf is this shit I'm investing in? Like were sending data over the internet? So what it's being aggregated or some nonsense and feeding it to a blockchain, it's all just some software, albeit very secure software. This is sometimes the first thought I have when I wake up in the morning, still in a haze, when I'm dismissing the absurdity of my dreams, and chainlink gets lumped in.

>> No.14934697

Memes

>> No.14934732
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14934732

>>14933170
>>14934267
BSVBSVBSV

>> No.14934756

Decentralized yacht parties

>> No.14934798

>>14934732
Good point, I guess I never thought about it like that

>> No.14934806

>>14933814
Steady on bro, it can barely stay above $2 right now

>> No.14934835
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14934835

>>14934613
It's a new, revolutionary way to monetize data. By owning link tokens what you actually own is a percentage of the cryptographic network that handles the process. Operators in the network obtain or lose a share of the network depending on their ability to feed correct data. It's better to think of it as something that works similar to stocks than "funny internet money". It's definitely not a "coin" or "currency" and should never be considered as such.

When the day comes and someone asks you how you became bazillionaire, if you feel the need to explain, just tell them you invested in a new technology called "smart contracts", which is true. By then the half of world will have heard of it.

>>14933935
Not as early as ICO, and didn't have much money to spare, but once I understood I realized an opportunity like this only comes once in a lifetime, and immediately stopped trading shitcoins and went all in and bought cheaply. While retards were laughing at us when it fell below 30 cents I was buying more and more. No regrets whatever happens in the end.

>>14933951
Probably. I say it mainly because I believe it will eventually be worth far far more than 1k per token.

>>14934806
If you sell at any point, pic related can happen to you. You swing trade for months, more than double your stack, then one day just after selling it goes up 80% and you wasted months of effort and potentially lost millions of dollars. Do you want to be THAT guy.

>> No.14934995

>>14934835
I set my sell for $1.25 that day, checked back a few hours later and basically dropped my fucking drink. Never swinging again.

>> No.14935121

>>14934202
Staking is a rich mans club, minimum worth to stake is $1 million, sorry neets, better luck next time

>> No.14935141
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14935141

>>14933139
Is there anything worse than an insistent zoomie who thinks he knows about something?

He hates when a engineer phd or someone with decades of relevant experience corrects him. It's funny to watch him internet rage.

>> No.14935192

>>14933139
There will never be another Assblaster

>> No.14935295

>>14934565
It's written in Go and Solidity.

>> No.14935401

>>14935121
You are referring to Coinbase Custody correct?

>> No.14935430

>>14933139
Dubs give chainlink its value.

>> No.14935573

>>14933205
reads like sims language

>> No.14935577

>>14935121
>>14935401
Yeah he’s referring to coinbase. Run your own node, go build something with your life you NEET faggots

>> No.14935618

Dawgpoop

>> No.14935705

I often think these questions are posted by sub-humans who are constrained by genetics so as to be unable to string together a single abstract thought, especially one surrounding the concept of "trust".

>> No.14935722

>>14933709
the faggot doesn't even need to physically come to you now with chainlink

>> No.14936112

>>14933139
Memes

>> No.14936141

>>14934581
good news anon: your losing less and less as time marches inextricably onward.

>> No.14936222

It's a perpetual motion machine and a ponzi scheme all rolled into one!

>> No.14936233

>>14934202
you can literally withdraw your staked link at any time you fucking brainlet Thomas went over this

>> No.14936297

>>14933139
We live in the Kali Yuga of a clown world coming to an end and this is why Chainlink, the most retarded useless project, will become the bigger one

>> No.14936324

>>14936222
>perpetual ponzi machine
Bullish

>> No.14936364
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14936364

>>14936222
Niggers smell bad.

>> No.14936633
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14936633

>>14933205
KEK

>> No.14936666

>>14933139
Trust

>> No.14936753

Magico del memõ

>> No.14936762

>>14936364
Based

>> No.14936782

>>14934118
I don’t get it

>> No.14936802

>>14933588
>>14933650

also these p much

>> No.14936818

>>14936666
>>14936633

>TRUST KEK ?

>> No.14936832

>>14933685
If you have a centralized oracle, then fraud becomes more profitable than acting honestly.

That's all there is to it. Blockchain is not an asset with centralized oracles, it is a liability. You have the most secure vault in the world, which can exist anywhere you need it to be and you just trust the people who use it to close the door when they're finished.

>> No.14937316

>>14936832
Okay

>> No.14937463

>>14933685
Okay, practical example.

You have a centralized oracle and a 20 million dollar acquisition of an oil field by company A.

a competitor (B) pays the (corrupt) oracle 5 million dollars to change the transfer of title to the competitor, and place a note in the contract that the purchase is on behalf of company B in payment of services rendered.

>> No.14937571
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14937571

>We're basically making a decentralized blockchain middleware that allows the inputs and outputs of a smart contract to be as tamper-proof/trustworthy as the smart contract itself.

>> No.14937602
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14937602

Demand.

>> No.14937632

>>14937463
Sounds highly unrealistic, like some sci-fi world where people trust 20mil deals to some decentralized contracts, because, what, they can't afford the banking fees?

Also, your story falls apart if the centralized oracle was a big company who laughs at 5mil and stands to lose way more (in stock price or jail time) by scamming.

>> No.14937662

>>14937463
Surely an oracle that was chosen to handle that contract would have built up a very reliable reputation over time, and is already making more than it'd be worth to completely tarnish that reputation.

Also, would only a single oracle be involved? Surely higher value contracts need many many points of information?

>> No.14937732

>>14933711
18 faggot

>> No.14937761

>>14937662
Because the question is "Why not just use centralized oracles" and the answer is they encourage fraud.

>>14937632
People trust 20 million dollar deals to lawyers, brokers, conveyancers and bank contacts right now. And people get defrauded by it. Check out how much money SWIFT lose every year to fraud.

>> No.14937866

>>14937761
But couldn't you enter fake data with decentralized oracles too? Especially if it was a one time only thing. You just lose your Link stake, right? And nobody can catch you after.

>> No.14937926

>>14933139
Link's value is dependent on the party that aims to benefit from a smart contract if the data that triggers the smart contract is accurate. The cost of proving the accuracy of that data depends on how many nodes they need to feel secure and how many other users want in on that security. Companies will buy and spend LINK to collateralize data veracity, more demand higher price, less demand lower price, supply is limited so it doesn't follow traditional economic principles.

If using chainlink for derivatives contracts can reduce risk for a large firm by $100MM dollars per year, than spending $20MM per year on LINK to confirm transactions would make it worth while.

>> No.14937958

>>14934363
Source?

>> No.14937983

>>14937866
You can, but imagine the collateral they will ask you yo put on for these kind of contracts, you feed false data and get fucked hard time in return, plus you never getting any jobs on your node

>> No.14938200

>>14933139
Link reminds me of when bitcoin first showed up. Everyone shitting on it. It spikes, some people got hyped while everyone around them called them a retard. 5 years later it’s worth 6,000 Usd a piece and everyone pretends they didn’t act like a idiot and just “missed their chance”
Throw 100$ into Chainlink and fucking forget about it. There’s nothing to lose. NOTHING TO LOSE. If this platform is worth 1,000$ a piece in 5-10 years the investment return is still boarderline unheard of

>> No.14938274

>>14937866
Sure, you could. The point of decentralized trustless environments is that it is less profitable to do the wrong thing however. The free market will move toward supporting that.

I'd imagine a combination of reputation and collateral would mean that you need to run your node as a profitable business with a huge amount of collateral staked before high value contracts would even consider you. So you'd need to be running a profitable multi-million dollar business for 6 months to two years, just to lose more money in a fraudulent transaction and kill your business.

Big time single contracts like that would probably require near on 100% collateral because to de-incentivize fraud, the loss needs to be greater than the gain.

A centralized oracle is trusted. Trust = Fraud.

>> No.14938301

>>14933139

The fact they secured the McDonald's partnership to peg one link to the value of one Big Mac.

>> No.14938340

>>14937571
No, with chainlink you still have to rely on DNS. If there is a DNS hack then you can kiss your chainlink good bye.

>> No.14938355

>>14933205
Congrats on this, seriously

>> No.14938426

>>14938274
This is probably the best explanation I could hope for, thanks anon.

>> No.14938746

>>14937958
That's another case of Chainlink/linkers lying about partnerships to pump their bags.

Swift did not test Chainlink. Chainlink built something using public Swift APIs. Anyone could do that, it's open. There's no partnership.

It's another case of Chainlink using something, and then larping about them being used by said thing. Literal scammers.

>> No.14938915

>>14938746
Chainlink is the only proof of concept in block chain that SWIFT has in the works.

>> No.14939223

>>14937958
imagine being THIS FUCKING NEW

>>14938746
this

>> No.14939230

>>14934835
>It's definitely not a "coin" or "currency" and should never be considered as such.

cryptoasset would be more appropriate.

>> No.14939276

hey guys I'm just here for the memes, drop fast food one-liners related to linky so I can send them to tinder thots I have added
i heard one that made me laugh involving sergey wanting "chain of custody" but I think anon said "chain of fries" or something silly