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/biz/ - Business & Finance


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26101227 No.26101227 [Reply] [Original]

Most people don’t understand how the technology works. They think Chainlink will be this magic portal that connects the traditional finance world to the blockchain and every transaction will pay link node operators. It’s assumed that LINK is the middleman for everything and will take fees for every tx, thus node operators become insanely rich. That’s not how it works though.. link isn’t even a bridge. It’s just the entrance to a bridge that connects 2 worlds. Sure you can put a toll booth but then people will use other routes.

Tolls pay for the bridge/highways... Not the toll booth lol

Link can’t bridge anything. People meme’d everybody into believe oracles are similar to interoperability somehow and will have all these use cases. They will just fetch price data mostly.. Oracles are not the settlement layer for payments/smart contracts. Or anything really. Once I realized that I jumped off the LINK train. It’s not like KSM/DOT with interoperability and can settle transactions. Oracles will supply the bridge chains with data to feed into the settlement layers. Nobody is paying for that data though lol they’ll just run the nodes themselves with or without link. Only thing holding the price up is this belief that Chainlink with act as the bridge

>> No.26101258

>>26101227
Just sold 100k

>> No.26101260

I was going to give your post some serious consideration until you mentioned KSM/DOT. Just another irrelevant shill post

>> No.26101275

Just bought 100k

>> No.26101283

>>26101227
Just buyed another 100k

>> No.26101292
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26101292

>>26101227
it connects homosexual men in a decentralized way

>> No.26101309
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26101309

>> No.26101314

>>26101258
>>26101260
>>26101275
>>26101283
>>26101258

Typical deluded/latefag talk. My job is done

>> No.26101324

>>26101227
>Nobody is paying for that data though lol they’ll just run the nodes themselves with or without link.

is that a trustworthy way of handling large derivatives contracts data?

>> No.26101357

>>26101227
I never understood why Biz was/is into to LINK. It's vapourware with a dev who dumps 500K on you at every opportunity. Sure you made some money off it, but let's face it, it's a useless memecoin who's only function is to. but NY apartments for it's developers.

>> No.26101369

didnt read not selling

>> No.26101378

>>26101292
This is the best fud I've ever seen.

>> No.26101384

>>26101227
Ok, say its a toll booth for a bridge. Large entities with sensitive data need a secure path to where the bridge leads. They wouldn't find a rout around where the data's arrival is uncertain and unsecure. Or maybe they use the cheaper alternative, like jumping in the water and swimming to the other side of the bridge. But maybe there are sharks in the water and they're are no longer secure.

>> No.26101395
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26101395

hey everybody
let's get cringy

>> No.26101412

>>26101314
Just sold another 100k

>> No.26101530

LINK will die harder than Bruce Willis

>> No.26101545

>>26101227
You're right but this could be said about 99% of crypto projects not just Link.

>> No.26101563

just bought 30 stinky linkies my dudes!!
I'm officially HALF IN!

>> No.26101585
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26101585

>> No.26101590

Just sold 100k

Thanks anonymous kind stranger

>> No.26101596

they will shut down 4chan to keep LINK from running

>> No.26101602

>>26101227
You dont understand what link even does or can achieve.
Good luck with your trades but I suggest you try and educate yourself more before putting real money on anything.

>> No.26101612

ERG > LINK

>> No.26101865

>>26101530
but bruce never dies

>> No.26101899

All link does is provide a marketplace for third parties to offer insurance on data

A transaction needs smart contract and third party data. Data provider offers to do it, puts up link as collateral to do it correct.

It's insurance. That's all it is, and no, u don't need chainlink there at all.

>> No.26101941

>>26101292
Holy shit!
That's a genius idea!
See you on uniswap in a week ;)

>> No.26101991

>>26101227
Just held 100k

>> No.26102277
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26102277

>>26101314
>>26101227
>>26101530
Fuck off tripfag. Everyone sees through you.

>> No.26102348

>>26101227
Insider here. Chainlink is going to solve one of the main problems with BTC: randomizing BTC rewards for mining. The fact that the team was focused on VRF as a priority proves Sergey is Satoshi.

>> No.26102973
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26102973

>>26102348

>> No.26103030

I just hate that no one ever looked into the lead developer Jason Parser. A known scam artist.

>> No.26103485
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26103485

>decentralized price feeder
But it has ... meme magic?

>> No.26103849

>>26101227
>people will find another route
Using this analogy, let’s say OP is a drug smuggler trying to find a way into a country with a shitload of cocaine, he tries to use another route and get his balls chopped off, asshole torn by a mexican burrito dick because he try to find another route like hidden tunnels or jumping over the fence. So now in crypto, if you use another route, without chainlink price feed, there will be flash loan attacks which will drain your liquidity pool. Just like what multiple defi shitcoins have experienced the past few months. Hence there is a need to use chainlink. Do you want your project’s liquidity pool to be at risked of being drained?