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/biz/ - Business & Finance


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29424250 No.29424250 [Reply] [Original]

My buddies and I from diverse backgrounds have done a ton of research into Chainlink. Right now, we're not too confident that it deserves its current market cap. I think the best way to look at it is to compare it to another big player in the DeFi space: Uniswap. Chainlink is just not as mature of a project compared to Uniswap, and yet has a higher marketcap.

Honestly though, despite our analysis most average crypto investors won't ever look this deeply at the fundamentals of a project, so I could see LINK riding the wave of DeFi as the DeFi coins all pump. Regardless, we will stay away though and focus on the coins where we're confident about their fundamentals.

Some FUD on Chainlink from a developer's perspective:

Chainlink's services mainly revolve around the price feeds right now, and only ~50 nodes are allowed to provide those services. It's a walled garden that the core team gets to handpick. There doesn't seem to be much of a roadmap to decentralization. There isn't yet a clear plan of an incentive system get more nodes to participate and do so honestly. I.e. there isn't a clear plan to deter malicious actors-- which is why currently the system is a walled garden.

>> No.29424351

>>29424250
And some more FUD on Chainlink from a business perspective:

There seems to be a strange counterintuitive incentive system where the point of chainlink is decentralization, so you're not supposed to be the only data provider for a given feed, but that means you'll have to split your income. That means it might be more efficient for business-minded nodes to wait and simply jump into markets as they form, rather than be a market-maker which is much more work. (A suggestion is to use a bonding-curve approach, like The Graph). Core team has not released any information about business incentives to be a market-maker.

And some FUD from a macro-investor's perspective:

The amount of fees that Chainlink brings in is not transparent. The fees that show up on market.link is what the nodes get paid. But it's in LINK, and some sleuthing shows that the LINK comes from the core team's wallet. Of course, the team has sponsors. But that doesn't tell us exactly what proportion of the fees is protocol income vs minted LINK vs sponsors. It is hard to tell whether or not the protocol is self-sustaining, or sustained only by the value of LINK and how deep the core team's pockets are.

>> No.29424687

>>29424250
Yes but you see chainlink does more than just letting poorfags gamble on shitcoins

>> No.29424805

“My buddies” aka Zeus Capitol fuck off.

>> No.29424849

>>29424250
Indeed, I am fearful, uncertain and doubtful about the state of the Chainlink (ticker: LINK) project. I am demoralized and will be market selling my LINK tokens ASAP I hope this post will help influence other Chainlink holders to also sell their LINK tokens because I am geniuniely concerned about their financial wellbeing

>> No.29424945

>>29424250
>Chainlink is just not as mature of a project compared to Uniswap
LMAO didnt even read the rest

>> No.29424982

>>29424250
You have to be 18 to post here.

>> No.29425139

>>29424687
>>29424945
>>29424982
We look at underlying usage as the fundamental value. That's because usage is a direct metric that tells us how useful people think a network is.

We've learned this over the years of investing in crypto:

You can have the most feature-rich crypto, but if no one uses it, then no one thinks it's useful enough to use, and your coin is worth nothing. That's why almost all the projects from the 2017-2018 era have lost 99% of their value. 99% of price was sentiment. Only usage is tangible.

For that reason, we think that almost all coins on the market right now are overvalued, except for BTC, ETH, XLM, and the DeFi coins (UNI, MKR, COMP, CRV, AAVE, etc.).

I would say that the coins listed above make up the majority of usage in the blockchain space right now. Of course, things can change, and the crypto market is highly speculative. People place their bets on where things will be in the future. But that's also incredibly risky, as we've seen in 2017-2018.

>> No.29425475

A lot of this is also why added Band Protocol to our portfolio a few months ago. Looking at both projects, it made 0 sense why Chainlink had a MC of over 30x higher than Band. Band looked like it was trying to address the issues we had with Chainlink, the biggest issue being its centralization. Having Link's oracle receive data from a single node is kind of worrisome as every dApp using Link is essentially at the whim of a single node that is assigned to collect the specific data it's requesting.

>> No.29426608

Are you that cute redhead from Twitter that rubs her pepe plush every day until link hits 1k?

>> No.29427132

>>29424250
Uni=Voting token, platform is used for trading shitcoins. Link=utility token, network is used by a lot of defi projects, list is growing bigger everyday. Also more usecases in the future.

>> No.29427202

It’s reality chain link wont pump

>> No.29427297

>>29424849
Kek

>> No.29427509

Flare Networks is going to eat every other crypto mentioned in this thread.

BTC? please.
ETH? gas.
XLM? meh.
DeFi coins? LOL.

If anon is smart, anon is currently LOADING THE FUCK UP on FLR IOU's.

Eventually, 1 FLR Token will be worth an ETH right now.

>> No.29427842

You guys really don't appreciate fundamental analysis. No wonder you fall for these market valuations

>> No.29428868

I would not suggest buying LINK over $31 I would instead suggest buying LINK in 2017 and holding until $1000EOY. analysis.

>> No.29428979

>>29427842
darn im only up 7,000% on my initial investment god im retarded

>> No.29429173

>>29427842
that's probably because your "fundamental analysis" is full of factual error? fuck off

>> No.29429959

>>29428979
Then sell, you are up a lot and the rational thing is to move your position into valuable assets instead of something fundamentally worthless
>>29429173
These are objective facts. You are not providing anything counterarguments

>> No.29430505

>>29425139
>the crypto market is highly speculative
It won’t be for much longer. Crypto isn’t about trading shitcoins.

>> No.29430629

>>29424250
Uniswap is a litteral shit-tier token.

Try harder.

>> No.29430849

>>29425475
lmao. this fud is the laest shit ive seen in a while. fucking band? the chink rip-off artists that wanted to copy vrf from link? that band? the oracle that isnt being used by over 400 projects like link?
ahahaha

>> No.29430962

>>29430849
Dude chinks are fudding lots of genuine projects and even suppressing the price via binance on some while they buy up the supply.

>> No.29431129

>>29430849
They know their shit is garbage so they are hyping the copies up to sell the west while they fud and buy the actually good projects. It’s like them flooding the west with cheap goods and using the profit to buy property and land in the west or quality goods. That’s the chinese business model and it’s the same for crypto. Luckily for them they have a slave workforce to provide the labour or in crypto’s case the astroturfing.

>> No.29431173

>>29424250
>>29424351
>>29425139
>>29425475
>>29427842
>>29429959
TL;DR;NS

>> No.29431254

>>29424250
You need to work on your "research" skills.

>> No.29431543

okay op you said the smart smart words

im dumping a suicide stack into whatever you say. What should I ride this wave?

>> No.29431581
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29431581

>>29424250
Ok niggers, listen. You're making this too obvious, only newfags won't notice who you guys are. Just give us something like Jessica Kather tier or fuck off, you're not helping
Even my 50IQ ass can come up with better fud

Yeah, chainlink (ticker:LINK) is absolute shit, going to $0 EOY

>> No.29431629

I've always thought this desu, it's better than random black boxes but it's pretty much a glorified stock ticker company.

>> No.29431852

>>29424250
Hol up are you guys le epic whalegroup?

>> No.29431886
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29431886

>diverse
Stopped reading. Fuck niggers.

>> No.29432211

>>29429959
6 million...fucking lol.. and now what do you guys do? You make porn and film your own women taking bbc all day long in a sorry attempt to subvert ...oy vey fucking sucks to be you

>> No.29433097

>>29432211
6mWNE fren

>> No.29433275

>>29425475
>band
lol

>> No.29433284

Many coins can seem to have great fundamentals and great feature roadmap, but if no one uses it, it will die. That's why I don't invest in moonshots. I'll lose out on the potential 500x but I'm fine with a pretty solid 10-50x that I'll get from ETH + DeFi coins instead, because I know that people are actually using them.

>> No.29433547

>>29433284
that's a good point i haven't thought of, i want to turn 10k into 100k or even 500k but I'm realizing i could much more reliably turn it into 50k by just hodling already adopted and promising projects

>> No.29433602

>>29433284
but then again if you got into chainlink the year of it's inception then you would have 100xed your investment

>> No.29434114

>>29424250
>>29424351
stupid fuck
sage

>> No.29434385
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29434385

>>29425139
>the only thing that matters is usage
>doesn't mention BNB or CAKE

>> No.29434455
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29434455

>>29425139
>You can have the most feature-rich crypto, but if no one uses it, then no one thinks it's useful enough to use, and your coin is worth nothing

its literally the standard, but you know this. fucking kike shill.
SAGE

>> No.29434554

>>29425475
fuck off schizo fudder

>> No.29434672

>chainlinkgod.zeuscapital pretends to be an anon with his buddies Timo Harings, Don, StinkyMclinky and an assortment of other Twitter retards
kek

>> No.29434850

All of you are just attacking me instead of what I am actually saying. This is very concerning

>> No.29435596
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29435596

>>29434850
stfu

>> No.29435778

>>29424849
based (ticker:LINK) poster

>> No.29435963 [DELETED] 

>>29434850
What did you expect, this is an anonymous anime board? Go back to plebbit if you can’t handle some ad hominem attacks.

>> No.29436710

>>29430962
yep if you buy chinkcoins you deserve the rug to be pulled from under you.