I unironically cannot understand what the fuck Chainlink actually is. I understand its a cryptocurrency. What the fuck is its purpose? What the fuck is a blockchain? What the fuck is an oracle? Watched over 5 videos of zoomer cucks trying to explain it, none of them give a clear explanation.

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Anonymous Wed Jul 8 22:53:11 2020 No.20212588 [Reply] [Original]

I unironically cannot understand what the fuck Chainlink actually is.
I understand its a cryptocurrency.
What the fuck is its purpose?
What the fuck is a blockchain?
What the fuck is an oracle?
Watched over 5 videos of zoomer cucks trying to explain it, none of them give a clear explanation.

>>	Anonymous Wed Jul 8 22:54:08 2020 No.20212602 File: 58 KB, 800x600, 1593280780990.jpg [View same] [iqdb] [saucenao] [google] >>20212588 you're in the middle.

>>	Anonymous Wed Jul 8 22:54:15 2020 No.20212605 >>20212588 based retard, just stop thinking and buy it

>>	Anonymous Wed Jul 8 22:54:42 2020 No.20212611 >>20212588 >What the fuck is a blockchain? >What the fuck is an oracle? FUCK OFF NORMAL FAG REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>>	Anonymous Wed Jul 8 22:55:21 2020 No.20212624 If you've had sex you won't understand it.

>>	Anonymous Wed Jul 8 22:55:38 2020 No.20212629 Ethereum == Decentralized Computer Smart contracts == Decentralized Applications Oracle == HTTPS Chainlink == Decentralized World Wide Web There. You've been spoonfed enough. https://blog.chain.link/tag/education/

>>	Anonymous Wed Jul 8 22:58:35 2020 No.20212676 >>20212588 Link will allow you to kill people in Minecraft. One link = one assassination

>>	Anonymous Wed Jul 8 22:58:50 2020 No.20212680 File: 53 KB, 600x800, soyjack.jpg [View same] [iqdb] [saucenao] [google] >>20212611 go back to plebbit u fucking faggot you sound like those high school kids who laugh at pickle rick memes

>>	Anonymous Wed Jul 8 23:00:19 2020 No.20212717 this is the entire tech industry btw. people say a bunch of smart sounding shit that no one really knows what it means or does but buys in anyway

>>	Anonymous Wed Jul 8 23:01:24 2020 No.20212733 >>20212605 i already own 25 link i just want to fucking understand what it is >inb4 linklet

>>	Anonymous Wed Jul 8 23:02:06 2020 No.20212744 If Chainlink becomes anything more than a Json parser it would literally 5x in mere hours

>>	Anonymous Wed Jul 8 23:02:58 2020 No.20212756 >>20212602 Based

>>	Anonymous Wed Jul 8 23:03:56 2020 No.20212771 File: 13 KB, 154x210, Umaru.jpg [View same] [iqdb] [saucenao] [google] >>20212588 I tried to read through the Chainlink whitepaper once

>>	Anonymous Wed Jul 8 23:05:54 2020 No.20212802 >>20212588 >>20212602 >>20212605 >>20212611 >>20212624 >>20212629 >>20212676 >>20212680 >>20212717 >>20212733 >>20212744 >>20212756 >>20212771 Chainlink is a scam

Anonymous Wed Jul 8 23:08:48 2020 No.20212845

>>20212588
A blockchain is a digital gang sign. It's how the different crypto gangs can tell each other apart and verify trust/alliances. An oracle is pretty much a digital tarot card reader, they claim to reveal hidden truths using cryptic tools but will essentially charge you money to tell you things you already knew. Most people don't give a shit about oracles but for some reason they have this weird fanatic cult that likes to hang out here. The idea seems to be based in a tradition of Russian mysticism, but many wisely consider it a scam.

Anonymous Wed Jul 8 23:09:07 2020 No.20212851

jesus christ all it does is link real world data to smart contracts in a trustless decentralized manner how fucking hard is that to grasp. specialized “adaptors” (specific sensor hardware) are being developed to take in various types of data. like fuck think of the potential use cases my man

Anonymous Wed Jul 8 23:11:40 2020 No.20212890
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>>20212851
>jesus christ all it does is link real world data to smart contracts in a trustless decentralized manner how fucking hard is that to grasp. specialized “adaptors” (specific sensor hardware) are being developed to take in various types of data. like fuck think of the potential use cases my man
speak english commie

>>	Anonymous Wed Jul 8 23:14:50 2020 No.20212930 >>20212851 And the token is used as collateral to incentivize providing correct data

>>	Anonymous Wed Jul 8 23:16:49 2020 No.20212959 >>20212930 I think people are expecting some fancy shit like robots and shit.

>>	Anonymous Wed Jul 8 23:17:45 2020 No.20212968 >>20212588 Yet another generic pepe1.jpg posted by a legitimate retard.

>>	Anonymous Wed Jul 8 23:18:29 2020 No.20212978 >>20212890 This board is hopeless. Google smart contract. google decentralized. How fucking hard is it to take 15 minutes out of your day to educate yourself? All of you deserve to be fucking poor.

Anonymous Wed Jul 8 23:18:41 2020 No.20212980
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>>20212602
This is ironically the key to understanding Link. This actually sums up Link incredibly well. It's the first and last post in Link threads.

Think about what this post conveys. It preys on your credulity. It's essentially veiled as an accusation of your intelligence. This is how Link has always strived, how XRP made it so far and fell so hard. It's officially the coin that is the future of finance and yet no one seems to use it and even if they did, the price of the coin is technically mutually exclusive.

Link is a somewhat esoteric coin that bridges crypto smart contracts to the outside world. Why does anyone need that? Truth is, no one needs it and the paradigms in place already work without a "decentralized" ledger system. Obviously that's not to say it can't be the future. So does it work better in some fashion, is it useful? And if it is useful, why does it need to be purchased?

I've never invested in Link because at the end of the day it's a speculative investment. It doesn't matter if all the corporations in the world use Link because at the end of the day average households are the ones that invest in crypto, they control the price action. There is no cause that effects the price. All it is, is hype. Crypto lives and breathes on hype. Every reason someone invests in a crypto distills into the dream of the future (and a high ROI). That being said, Link (and XRP before it) is one of the most dishonest coins there are, not in a necessarily negative fashion, but in the sense that it is the most "hopeful" coins that exist. It exists in the biggest fantasies.

Anonymous Wed Jul 8 23:21:49 2020 No.20213018

>>20212980
That being said, Link (and XRP before it) is one of the most dishonest coins there are, not in a necessarily negative fashion, but in the sense that it is the most "hopeful" coins that exist. It exists in the biggest fantasies.

To expand on this you could say that the biggest claims, require the biggest evidence.

Anonymous Wed Jul 8 23:22:54 2020 No.20213031

the reason the tech is so disruptive is because 1. it can service multiple industries with the same underlying tech. 2. smart contracts are useless without real world data, and more so without a trusted way to get that data. payroll systems completely run by smart contracts and link oracles that trigger your weekly wage cage earnings based on ur clock rings. thats just one of many use cases. bye bye middleman.

>>	Anonymous Wed Jul 8 23:24:08 2020 No.20213050 >>20212602 Me on the left

>>	Anonymous Wed Jul 8 23:25:40 2020 No.20213074 File: 106 KB, 565x1024, 1592429280085m.jpg [View same] [iqdb] [saucenao] [google] >>20212680 >he comes over to /biz with his negativity and retardation NEVER UNDERESTIMATE THE POWER OF POSITIVE THOUGHT

>>	Anonymous Wed Jul 8 23:27:50 2020 No.20213109 >>20212588 That is true the zoomed videos are beyond stupid

>>	Anonymous Wed Jul 8 23:30:53 2020 No.20213156 >>20212845 fpbp

>>	Anonymous Wed Jul 8 23:33:07 2020 No.20213188 >>20212980 >t. 6 LINK LARPer

>>	Anonymous Wed Jul 8 23:34:02 2020 No.20213196 >>20212588 >someone spoonfeed me please how about no?

>>	Anonymous Wed Jul 8 23:35:42 2020 No.20213222 >>20212588 you understand wrong its not a cryptocurrency its a utility token

>>	Anonymous Wed Jul 8 23:37:35 2020 No.20213247 >>20212980 We didn't "need" the internet in the 60s either

>>	Anonymous Wed Jul 8 23:37:39 2020 No.20213248 >>20212680 You're such a retard, please never invest in link or post here ever again

>>	Anonymous Wed Jul 8 23:41:48 2020 No.20213302 >>20212771 I haven't read it at all. I own 5k Link.

>>	Anonymous Wed Jul 8 23:43:10 2020 No.20213314 crypto is trash right now, avoid it like the plague. none of shit is going to be remotely relevant for decades. invest in stocks instead which actually have some real world value

>>	Anonymous Wed Jul 8 23:43:37 2020 No.20213325 I invested thousands into link and I honestly don't know what it does either. I guess I trust biz on this one. My IQ is above 100 though

>>	Anonymous Wed Jul 8 23:44:33 2020 No.20213334 File: 49 KB, 750x408, 1592935240662.jpg [View same] [iqdb] [saucenao] [google] >>20212624 >tfw haven't had sex and still don't understand it I just can't win

>>	Anonymous Wed Jul 8 23:49:29 2020 No.20213394 >>20212602 I'm on the left. I have no idea wtf it is but bought 620 coins @ 0.20.

>>	Anonymous Wed Jul 8 23:49:35 2020 No.20213396 >>20213314 >invest in stocks which actually have some real world value as if the stock market reflects anything in the real life economy anymore

>>	Anonymous Thu Jul 9 00:15:28 2020 No.20213709 >>20212978 this is why I don't regret staying out of chainlink even though I could've made 8 figures. like fuck sakes. Nobody even knows what's going to happen to it now that China has aquired it.

>>	Anonymous Thu Jul 9 00:18:03 2020 No.20213732 File: 554 KB, 1638x2048, 1588048303602.jpg [View same] [iqdb] [saucenao] [google] >>20212588 Watch this https://www.youtube.com/watch?v=Jxjfdne6T5U

>>	Anonymous Thu Jul 9 00:18:04 2020 No.20213733 >>20213396 this is true but there's nothing wrong with having some stake in the team that never loses. US dollar will continue tanking, stocks will continue to inflate in fake value. just hop on.

>>	Anonymous Thu Jul 9 00:58:38 2020 No.20214270 >>20212588 Try Verasity It actually has a value proposition normies can easily understand

>>	Anonymous Thu Jul 9 01:03:00 2020 No.20214322 >>20212624 This

>>	Anonymous Thu Jul 9 01:05:03 2020 No.20214355 >>20212588 >I unironically cannot understand what the fuck Chainlink actually is. Off Chain block chain data feed.

>>	Anonymous Thu Jul 9 01:17:07 2020 No.20214485 >>20212845 this is the legitimately the best explanation of link I've ever read

>>	Anonymous Thu Jul 9 01:45:50 2020 No.20214814 >>20213732 30 minute video first 5 minutes is pajeet literally explaining how the internet works >We are reaching levels of spoonfeed that shouldn't be possible

Anonymous Thu Jul 9 02:57:09 2020 No.20215735

>>20212588
blockchain: imagine lego blocks
15 years ago satoshi nakamoto placed the first lego block (genesis block) and then the algorothm he coded kept putting new blocks on top of it
each time a block gets added it tells the previous block what just happened (transactions between adresses) and the previous blocks all go "ok cool" and the chain flowered up
now if you tried doing something illegal the old blocks will go "hey thats not right) because they can tell you cheated
they can tell because they know where all the bitcoins were *before* you added the illegal block, so they can check whether its even possible for you to suddenly have money you shouldnt have
it does this with each transaction or something idk, but its "temper brooth" so its good, youd need to change every block since 2005 to cheat the chain

an oracle is like a transaction except instead of writing a shift in wallet balances into the chain it writes some "thing x = 1" sorta stuff into it (you need ethereum for this, or some other modern blockchain that supports this trickery)
but so how can you make sure that info is legal? what if i tell ethereum "merkel = dead" even though she isnt, how will the blockchain catch me? with transactions its easy since you just follow the money flow to the start but here we're talking about totally new random info
and so thats what chainlink is needed for, it just fixes that. its not just an oracle, its a "temper brooth" oracle. only true info gets accepted into the blockchain
"how does it do this?"
well first sergey finds a reliable API, like a website's info outlet, then he sets up the node, then he lets the api's info run through the chainlink stuff and there the chainlink makes sure the info is the same as everywhere else, only then its added to the blockchain
thanks for reading

>>	Anonymous Thu Jul 9 03:03:48 2020 No.20215826 >>20215735 this is pro and I hope people read it

>>	Anonymous Thu Jul 9 03:10:54 2020 No.20215925 >>20215735 So how is chainlink gonna proof merkel is indeed not dead?

>>	Anonymous Thu Jul 9 03:13:08 2020 No.20215953 File: 11 KB, 280x180, cainleknn.jpg [View same] [iqdb] [saucenao] [google] >>20212980 nice FUD. Saved.

>>	Anonymous Thu Jul 9 03:15:10 2020 No.20215980 >>20212588 It's purpose is to steal your money. Stay away.

>>	Anonymous Thu Jul 9 03:15:20 2020 No.20215983 >>20215925 This faggot sergey is going to manually set up “oracles” on a bunch of websites to extract their data? The data on the websites could be faked too.

>>	Anonymous Thu Jul 9 03:17:12 2020 No.20215998 >>20212588 how about reading the manual

>>	Anonymous Thu Jul 9 03:17:28 2020 No.20216004 >>20215735 but what the FUCK is a blockchain I don’t fucking know what a LEGO is or want to know what a lego is I JUST WANT YOU TO TELL ME WHAT BLOCKCHAIN IS WITHOUT ANY FUCKING ANALOGIES IT DOESNT FUCKING REAL DOES IT????

>>	Anonymous Thu Jul 9 03:17:39 2020 No.20216008 File: 837 KB, 360x201, 1568100920945.gif [View same] [iqdb] [saucenao] [google] >>20212624

Anonymous Thu Jul 9 03:23:21 2020 No.20216084
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>>20215735
You my friend are on the left side of the LINK IQ chart. That being said, it was a good attempt at explaining. LINK is a Token used as collateral. The chainlink is a network of decentralized oracles. My explanation of this part isn’t very good but it’s essentially a whole bunch of data providers that need to prove that the data being provided is actually legitimate and isn’t fraudulent. Introduce the token, LINK in order to provide accurate data these data providers need to be paid the more accurate your data is, the more LINK you can charge for your data to be used in a smart contract. Why chainlink is so good is because it bridges off chain resources (companies are beginning to form their own private blockchains/ DLTs ) with on chain resources, think eth BTC etc. Chainlink is what essentially connects all the various markets under the concept of trustless automation. Suppose you make a bet for $10000 that New Mexico won’t get 20 inches of rain in one year(2000+current year). This data can be retrieved by different weather companies/ and news casters via their companies API. Now assume that these different companies have partnered with chainlink, they become a part of the network of oracles. Back to the bet, at the end of the year New Mexico only got 19.9 inches of rainfall. You then get paid $10000 directly to your bank account. Apply this concept to the different sectors of our worlds economy and you can see the value of Chainlink and the LINK token. Btw I’m also a low iq linkie

tl;dr;ns buy link

>>	Anonymous Thu Jul 9 03:29:02 2020 No.20216165 >>20216084 Link is a collateral for contracts that dont have any use.... COOOOOOL

>>	Anonymous Thu Jul 9 03:39:03 2020 No.20216259 >>20215735 Sounds like something that should have a 100m marketcap

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