Chainlink

[Anonymous No.19193660]

I still cant get into chainlink. How does this shit actually works? Whats is the promise? Just give me a quickest rundown.

[Anonymous No.19193676]

>>19193660
Just buy. It’s not actually that hard to understand so if you can’t then your best bet is listen to people smarter than you and not worry about why you are doing that. And that’s a mantra for your life, not just crypto. Put all of your money in and don’t fucking touch it for at least 3 years. Good luck.

[Anonymous No.19193737]

>>19193660
It promises to deliver data to smartcontracts through a secure decentralized network, the oracle network. LINK is used to collateralize the data running through the network to make sure nodes are running efficiently and in good faith. If the wrong data is supplied to the smartcontract nodes are penalized.

A bet on LINK is a bet on the coming smartcontract economy. if you don't know what smartcontracts will be used for id start there.

[Anonymous No.19193740]

>>19193676
Yeah, but can I "buy" it without real money? You know, by linking chains or whatever. I am not smart and I literally don't understand the basic mechanic of it.

[Anonymous No.19193752]

so blockchain is a distributed ledger, but like it can't access data off the blockchain (?), but chainlink can (?) anyway autists say its good and the memes are decent
T. 9k stack

[Anonymous No.19193766]

>>19193737
Thanks, I am gonna start to study it from there

[Anonymous No.19193773]

>>19193740
>basic mechanics
>On a digital asset
Yeah just stick to buying spy and earn shit gains.

[Anonymous No.19193852]

>>19193752
>>19193773
I remember I heard of btc first time 10 years ago and I did NOTHING the whole time cuz I thought it was a scam. I dont want to make same mistake this time.

[Anonymous No.19193909]

>>19193852
kek, in fact I still don't have a btc account. Is it even worth to start with it in 2020?

[Anonymous No.19193946]

>>19193740
weak bait

[Anonymous No.19193987]

>>19193946
I wish it was a bait. I am new to biz and I am really bad with money and math, but I want to learn

[Anonymous No.19194132]

>>19193752
>9k stack
Does that mean it would make you USD34774 if you withdraw everything on your bank accout today? Or are there any chatchs when it comes to that?

[Anonymous No.19194183]

>>19193737
It delivers poo to the loo. Please do not buy, OP.

[Anonymous No.19194217]

>>19193660
>>19193676
>>19193737

same thread same first 2 posts 10 fucking times per day on here

same of these shill faggots

[Anonymous No.19194218]

>>19194183
What do you mean. Was it created by pajets?

[Anonymous No.19194258]

>>19194217
Fuck off. This is my first thread on this board in years.

[Anonymous No.19194333]

Ethereum allows for smart contracts. A contract that says if a certain condition is met, something will be fulfilled. The main example so far are smart contracts that generate tokens.

As it stands smart contracts are not very useful because they need outside world data. They need an “oracle” - something that can pull off chain data (market data from Bloomberg/reuters, weather data, who has been elected president, whether a shipment of goods has been transported etc.) onto the blockchain.

One potential solution is a centralized oracle. I set up a company that provides oracle solutions. If someone wants an oracle that provides BTC/USD price data, ill set one up that pulls from, say, uni stamp and delivers it to the smart contract.

The problem with this is that my oracle is now a single point of failure. What if I get hacked? What if I exploit my position to profit from the smart contract by giving bad data? What if my data source is compromised?

There was actually a recent example of this. bZx was using a centralised oracle that referred to unistamp for bitcoin prices. So what someone did was short bitcoin on bZx, then sold it aggressively on Unistamp, causing the price on Unistamp to drop aggressively due to lack of liquidity. Because their bitcoin smart contract on xBz uses Unistamp as its only data source, they made about $360k from the exchange.

The solution is to use decentralised oracles. Multiple oracles which use multiple data points, and exclude outliers. That’s what chainlink is, and bZx have since switched to chainlink.

Essentially ethereum without chainlink is a vehicle for pumping out shitcoins. Ethereum with chainlink is capable of producing insurance, derivatives and several other interesting applications

[Anonymous No.19194451]

>>19194333
Although I cannot understand a half of your vocabulary (yet) I think I am starting getting it. Thanks for this info.

[Anonymous No.19194887]

Soo0 if I understand this correctly; I cannot earn any money until I put some more into it? I can't start from USD0?

[Anonymous No.19195046]

>>19194451
alright nigga think how important contracts are and how much money is dependent on contracts.
this shit lets you automate the execution of contracts, removes courts and lawyers and all the bullshit out of the process, and funnels a portion of the money saved to LINK holders
that's as simple as i can make it for you

[Anonymous No.19195234]

>>19194887
Do you think you can buy bitcoin with monopoly money? Are that big of a retard?

[Anonymous No.19195287]

>>19193660
see fpbp:
>>19193676
OP you sound like a good lad, buy and research as much as you can.

[Anonymous No.19195331]

>>19194887
You can’t make new LINK tokens. Only buy them with real money from an exchange

[Anonymous No.19195349]

>>19193660
put it this way
>blockchain is a suburb
>bitcoin is white people
At this stage, white people proof that they can build houses and it works well.
>ethereum is wealth
now with all the work generated by white people, the results is wealth and other sort of creations.
>jogger or NIGGER is chainlink
That jogger or NIGGER if you want, will be the connection between all this wealth and creations and connect white people with each other. Now that all the wealth created by white people from the suburd is well aware of jogger or NIGGER, they will be able to work with each other to protect what they have created.

[Anonymous No.19195364]

>>19194887
Sure you can get tokens worth 3.8$ a piece for free. Money is free afterall.

[Anonymous No.19196236]

>>19194333
C

[Anonymous No.19196800]

>>19195364
how much was one chainlink token year ago?
>>19195234
I am not retarded, I am just slave tier uneducated nigga born in commiebloks raised in mindsed; money bad. I am really really poor and in huge dept owing money to jews..
>>19195046
what exacty is "contract" in your book?
>>19195287
I am triyng to do so, but its hard. Too much newspeak.

[Anonymous No.19196837]

>>19196800
>slav
>slave
its like a pottery