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/biz/ - Business & Finance

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20269857 No.20269857 [Reply] [Original]

Staking will be officially announced on August 28th

>> No.20269888

Nah unlikely. We’ll be waiting for that shut for a while. I mean didn’t sergay say maybe 2-3 years

>> No.20269933
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Glad I soled the top

>> No.20269951

5-10 years

>> No.20269950

November earliest. Sorry anon.

>> No.20270136

This has nothing to do with Link

>> No.20270158

Literally who

>> No.20270176

Nah, they are waiting for more demand

>> No.20270235

Staking when not one single legit entity is using the product, just a bunch of biz neets creating “Defi” junk

>> No.20270246
File: 402 KB, 784x920, C1ADFAE3-2259-4984-ABFA-C87893841AC0.png [View same] [iqdb] [saucenao] [google]

Don’t be mean to newfags

>> No.20270278

Dear trannies
Please kill yourselves
Sincerely, normal human being

>> No.20270465

Lol new fags getting fed by nice marines

>> No.20270575
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>celebrate our incredible community
what did they mean by this?

>> No.20270635

here's the redpill folks:
the github is literally a ghosttown full of nonsense code. anyone with a compsci background- go look for yourselves. it's all bullshit. there is nothing developed for staking whatsoever. the company is worth $4 billion dollars and they haven't done any work on staking whatsoever. they've gotten a few decentralized oracles to work on gold and the australian dollar to work. wow. congrats..that took $4 billion dollars? literally just go look at the github

>> No.20270751

I'm actually more qualified to talk about this than most anons. I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.

Now I can already hear your keyboards going frantic, but hear me out. /biz/ hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.

'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have reputation, but in real life not on a computer screen.

The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. But this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.

>> No.20270764

have sex incel

>> No.20270808

0% chance

>> No.20271054

delete this dude

>> No.20271376


>> No.20271681

>went from huge event to a virtual zoom meeting

shit sucks

>> No.20271838
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>> No.20271873

>t. Closet tranny

>> No.20271941

>smart con
I knew this was a scam! Glad I sold at 3.80. Have fun getting dumped on.

>> No.20271968

Yeah I did not say August

>> No.20272040

>two more weeks

>> No.20272123
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Imagine you are a defi protocol using the Chainlink reference data. Currently you're probably only paying 5% of the real costs, with chainlink incentive wallet covering for most of it.

The current model is satisfying enough for your end security, and staked collateral wasn't designed for your type of high volume but low value usage. But you're the only users.

The Chainlink team however insists to introduce the feature, and since customers aren't willing to pay extra for what is essentially an extra feature they do not need, they decide to cover the expenses themselves once again through the incentive wallet.

Staked collateral was designed for low volume but high value smart contracts for the enterprise and traditional finance industries, for which there is no demand and interest. Similarly, the service agreements have seen zero usage in one year. There is no direct customer usage, only indirect through the reference model of shared expenses, what you could call the public good model.

The public good model being their only used oracles as of now, now ask yourself how would staking work in this scenario?

The average node call price is 0.16 LINK. 1 dollar per node per call. Now let's be optimistic and say each node is covering 100 jobs, which is still far from the case. The total value required to be staked in each node would be 100 dollars at best. Right now it's more like 10 jobs per node so it would be 10 dollars. This is the current real value of the chainlink network. 10 dollars! It's way over valued at 2 billions. This is pretty basic maths and cannot be refuted.

And you delusional cultists think everyone will be able to stake 2 billions usd worth of tokens to generate 5-10% returns. To cover 10 dollars worth of calls! And who's gonna pay for it?

Releasing the staking mechanism would actually be disastrous for the link price, as the market would quickly remark its completely pointless and no one wants to use it.

>> No.20272135

I used to wonder that myself. Thought it was a bunch of mumbo-jumbo-magical power staking together collectibles, insurances, derivatives, random numbers, real assets, data feeds and China. Crazy thing is, it's true. The Singularity, the burgers, all of it. It's all true.

>> No.20272309

Are you legit retarded?

>> No.20272491
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psht it's like this retard doesn't even know about 42 and the quantum AI that shitposts esoteric memes on Mongolian yak milk cheesemaking imageboards

bullish for LINK

>> No.20272509

That's a lot of words you just typed.
You could've just posted "I'm stupid" and conveyed the exact same message.

Chainlink itself is currently the sole contract operator. Chainlink guarantees the performance of the contracts.
After staking, contract operators will be whoever wants a certain product.
At this point, the node operators will have to guarantee the performance of their node, meaning contract operators/users will want staked guarantees up front.

Currently, Chainlink handles hundreds of millions of USD per day, so the required staking amount would be a good proportion of that. Every day.

And that's just under the current conditions, in the Defi kiddie pool.
Chainlink has its sights set on things like derivatives.

>> No.20272644
File: 146 KB, 1054x827, OTC.png [View same] [iqdb] [saucenao] [google]

A sneak peak at the collateral for the OTC derivatives market.
>CTRL +F "Chainlink" 0 results

>> No.20272666

FYI this is from the new regulatory requirements coming into force September 2021

>> No.20272693

wtf are you doing anon

>> No.20272720

Womp womp

>> No.20272761

I bet you really think you got something too.

>> No.20272827


oh shit there's no oil there either

>> No.20272882

The $1k meme came from the derivatives rumor. Well there you have it, right from the horses mouth what will be used for collateral

>> No.20272916

Chainlink nodes won't be collateralizing the derivatives themselves you turd. They collateralize node performance.

>> No.20273041

...and why would derivatives or treasuries be entrusted to nodes whose node performance wasn’t ensured by a collateral penalty that was some significant fraction of the principal being transacted? Do you really not get this or is this stubborn low iq fud?

>> No.20273060

>...and why would derivatives or treasuries be entrusted to nodes whose node performance wasn’t ensured by a collateral penalty that was some significant fraction of the principal being transacted?
But node performance will be ensured by a collateral penalty that was some significant fraction of the principal being transacted.

>> No.20273064

checked by satan himself

>> No.20273091

Oh, we were just talking past each other. Yes that is correct.

>> No.20273190


honestly it's starting to irritate me watching you fucking newfags replying to copy pastas.

Some of these copy pastas are so old they dont even make sense anymore, yet you still reply to them like a retarded nulinker.
fucking retard

>> No.20273224

That post was only posted twice, fuckwad.

>> No.20273230

different sort of collateral but still delet

>> No.20273307

>Hi everyone, thanks for joining me.to talk about next generation smart contracts and oracles. For some context, the fundamental problem is that smart contracts and blockchain environments cant communicate with external systems. Contracts are only limited to tokenization...

>> No.20273387

>CTRL + F "haircut"
>1 result
just shaved my head

>> No.20273452

>people originally thought ATMs wouldnt work

>> No.20273467

how new are you repying to pasta

>> No.20273542

Ive been on /biz/ since mid2016 newfag. I just didnt see that one before

>> No.20273564

That’s one of the oldest copypasta out there nigger

>> No.20273614
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>he thinks I ever read them

>> No.20273841

Absolute unit.

>> No.20273951
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Comp sci here
Bing bing wahoo
Not the Linkerinos
Don’t buy those linkerinis
It’s a fucking scam look at my pulsating perspiring semitic forehead
Last night I ironically filmed Deshaun penetrating my wife’s anus with a police baton haha
Hey Morty my wife’s ass looks like a Jewish vaudevillian clown’s pocket it’s art
My wife’s fucking rectum is a post modern commentary on colonialism farting cum all over our heckin wedding photorino
Decentralised smart contract oracles? This year for our anniversarino I filmed my wife farting pepperoni over a Wiccan effigy of Ruth Bader Ginsburg I’m a male feminist
Link is a nazi token Sergei is a NAZI
Edit: Thanks for the gold kind stranger! Just watched my wife get pozzed by a viral African load it’s so beautiful when I think of the birth scene tribal African drums played at ear shattering volume vomit pouring down my lederhosen as my wife’s vagina blooms from the pozzed negroid seed ITS ENOUGH TO MAKE A MAN SICK HAHA
I asked doctor Shabbo about Link and he said it’s a scam and to buy XRP before delivering twin brown baby boys from my wife’s prolapsed assgina haha thanks for le gold don’t buy link

>> No.20274049

August 28th, 2028

>> No.20274077

imagine writing this

>> No.20274105

It’s not gonna be this, although he may give a quick rundown. Most talks he gives are on someone else’s turf and he’s there to get developers educated and thinking about uses. This time, he’ll be on his own turf completely. The explainer videos he’s done recently, like the one where he gets into the history of contracts and the future of agreements, suggest that he’s building towards a reveal.

>> No.20274184 [DELETED] 

What they might reveal? Sergey pretty much explained most in his last presentation no?

>> No.20274427

It's nothing to be excited about. Can you tell me how link pays staking rewards?
If you can, you'll understand why it's only going to be exciting in the next couple of years

Few understand this