The question regarding LINK

[Anonymous No.3654826]

To the people wondering why anyone would be using chainlink smart contracts and spending link and gas vs just gas.

The current state of affairs is that smart contracts aren't really smart right now. They execute, but that's about it.
If a bank were to send those they wouldn't have any historical data with these contracts and have to rely on a third party to keep track. Plus having to redo their infrastructure to utilize whatever blockchain method to send contracts.

The key with chainlink is they can keep their existing infrastructure and send using chainlink as an oracle. Plus on top of it being a smart contract it will carry all the previous data of that contract on the blockchain thus taking the need of an off chain data keeper to keep track of it's history. Conveniences for banks or any thing needing the security and reliability of a decentralized smart contact.

That's the reason swift is having Sergey showcase a live working demo.

[Anonymous No.3654843]

>>3654826
B-but biz says sell the news!

[Anonymous No.3654849]

holy shit this sounds absolutely mind blowing.

LINK = LAMBOLAND

HOLY FUCK I WILL GO TTO LAMBOLAND
HAHAHA LAMBO HERE I COME

[Anonymous No.3654851]

And just a reminder that the use case isn't just for Banks. The use is for whatever you need a smart contract for. The off chain data feeds is whatever you want attached to the chainlink Oracle

[Anonymous No.3654872]

For anyone wanting to join the link ship. I deeply deeply urge you to lookup all the facts YouTube Google articles and whitepaper. Before you buy. Don't buy fomo because then you won't know why you're holding.

[Anonymous No.3654873]

>>3654826
There is no advantage to transferring offchain data on a blockchain because the trust problem was never in the transfer.

A blockchain that is not conpletely decentralised is just a database. Using blockchain technology to transfer data between centralised dat sources is way more expensive and slow than centralised transfer and does not make that system any more trustless

People are buying this because they know it will hype with the swift brand attached to it. Swift is either desperate to stay relevant or dumb as fuck

[Anonymous No.3654896]

>>3654873
But this is why link nodes are useful to provide trusted data feeds.

[Anonymous No.3654897]

>>3654873
you stupid fuck you literally have no idea what LINK is even used for holy shit

[Anonymous No.3654905]

>>3654897
so I still go to Lamboland?

[Anonymous No.3654908]

>>3654873
It's not just one centralized source its multiple nodes which are paid in link

[Anonymous No.3654971]

>>3654897
Its just an inefficient api hyped by a misunderstanding of the value of blockchain. Anything link links to eth, btc or smart contracts are centralised. Blockchains are not better at transfering information they are slow and expensive but this is worth it in applications where trust is an issue. If you are using a blockchain to link sources that are not decentralised and thus require trust yoy are wasting your time

[Anonymous No.3655047]

>>3654849
Obvious trilling

[Anonymous No.3655062]

>>3654971
linkies BTFO

[Anonymous No.3655063]

When is the demo

When is my lambo

[Anonymous No.3655070]

You shall never win, LINKies.

Bend the knee.

[Anonymous No.3655088]

>>3654971
Next step is decentralizing the inputs, and then welcome to the new dimension

[Anonymous No.3655121]

>>3654873
There is still relevance in having smart contracts acting on centralized inputs, there is value in having smart contracts interacting with the outside world, "as long as we can trust the source the output of the contract can be trusted", and that's just the beginning

[Anonymous No.3655158]

>>3655088
If swift or the financial system decentralises, its business model ceases to exist. Decentralised inputs for other systems will require decentralised physical measuring devices etc. Even if this happens their is little to no reason link tokens would be worth anything and a high likelyhood they would be inflated to maintain market share with any other competitors and smart contracts that can just link straight to inputs without a redundant middleman

[Anonymous No.3655190]

>>3655121
I agree but people need to realise this not a ticket to lamboland or the next ethereum. If you belive this you are jumping on a hype train driven by links association with swift

[Anonymous No.3655235]

>>3655190
Its not the next ethereum but it sure as hell is a ticket to the moon.

The price now vs ICO is already a mini moon of it own.

[Anonymous No.3655241]

>>3654826

LINK bery nice coin to hold, extremely value, luv it

[Anonymous No.3655244]

>>3655190
BUT I WANTED THE LAMBO MOMMY
AAAAAAAAAAAAAAAAAAAH

[Anonymous No.3655315]

>>3654971
well but with chainlink you can choose how many of those centralized sources need to signal you the same info before your smartcontract says "ok, thats trustworthy enough when 10 different independent centralized sources state the same thing". Multiple centralized sources = decentralized consensus = link will buy each of us a bugatti

[Anonymous No.3655410]

>>3655315
Im saying fair enough blockchains need to be linked to data but a blockchain isnt a good mechanism of doing so when the data isnt decentralised

When i take a shit it doesnt matter if my plumbing is lead or gold; what comes out is shit, so why use gold pipes?

[Anonymous No.3656040]

>>3655410
Sergey even states that even though he sees the future in blockchain and it's future. Realistically The real world right now needs fiat and old centralized outputs. Chainlink serves to bridge that with it's Oracle kit and services.

You're absolutely right currently there's no need to put anything on the blockchain. There's no use for Bitcoin other than a few people actually utilizing it as currency. There's no need for ethereum currently other than getting into icos and meaningless shills and trade.

However blockchain is the future. No matter how much you say it's slow as of now, but that's why institutions recognize this and the beauty with chainlink is the fact they can still utilize their centralized feeds and still connect to the blockchain. They don't have to change their structure.

This allows intuitions to adopt blockchain with very little investment.

That's the key

[Anonymous No.3656083]

>>3655410
Your train of thought is literally how kodak looked at the digital photography movement. They ignored it and said why would anyone want low quality photos when they can have high quality tangible photo films. If memory serves me right they don't exist anymore.

[Anonymous No.3656137]

>>3656040
>>3656083
i think decentralised crypto currency is the single most important invention humanity will ever create and decentralised applications have the potential to reduce the marginal profit in business so that business becomes free.

Chainlink is not going to go the distance though see >>3655190

[Anonymous No.3656190]

>>3656137
>chainlink is not going the distance
Your loss pal

[Anonymous No.3656317]

>>3656137
>decentralized crypto currency
>most important invention

Ok now I know you're a retard

[Anonymous No.3656390]

>>3656083
>>3656137
This has probably been the most thorough and comprehensive discussion I've ever seen on biz, nice work

What are some examples of smart contracts that you could do with the Oracle system and not without? Where the inefficiencies of Oracle overpowered by the merits?

[Anonymous No.3656408]

>>3655244
https://youtu.be/Czmb6tEwFE8

[Anonymous No.3656422]

>>3656137
There's a lot of people jumping on because of swift. If you look past that it's only the beginning. This has a use for the real current world to connect to the blockchain. Whether it's using hyperledger, ethereum, transactions with fiat, or contracts that pay with omisego, neo, nexus.

Chainlink is bridging all of that together. The only cost you pay node operators is LINK

[Anonymous No.3656475]

>>3656137
Chainlink is the single most useful ico out of all the icos built on ethereum to my knowledge with an actual working product you can use RIGHT now.
Omisego is only built on hype as of now and it's going the distance. There's numerous other coins who have mooned with hype only.

I don't know how close to the Moon it'll be or how far past it will go. I just know I'm on a rocketship. This ship isn't coming back to earth.

[Anonymous No.3656519]

We're still all gonna make it r-right?

[Anonymous No.3656752]

>>3656390
bbbbbbbump

[Anonymous No.3657196]

>>3655158
>>3655190
>>3655410
>>3656137

How would you explain Ripple's marketcap then?

[Anonymous No.3657290]

>>3654873
>>3654971
>>3655158
>>3655190
>>3655410

https://en.wikipedia.org/wiki/Society_for_Worldwide_Interbank_Financial_Telecommunication

Go to 'Security'

SWIFT doesn't want to get hacked anymore. By using smart contracts in the blockchain, it prevents things like:

https://en.wikipedia.org/wiki/2016_Bangladesh_Bank_heist

The US Gov. is also up their ass snooping, if at some point the Ethereum blockchain becomes anonymous (One of the goals for Serenity right?) then they are back to being in control of themselves again.

To use blockchain smart contracts, you need oracles. Preferably decentralized, trustless ones so that the oracles don't become another vulnerability or point of attack for malicious attacks / control.

I don't think I've seen anyone make this argument here before, if I'm missing anything I'd like to be corrected. I'm holding a fair amount of LINK but I'm starting to think LINK is too good to be true based on the shilling.

[Anonymous No.3657322]

>>3657290
https://www.youtube.com/watch?v=eoYET6mhzQk

Bloomberg interview with Coinbase cofounder that states that if Blockchain is the new paradigm, that out of the new paradigm excluding the legacy coins like Bitcoin/Ethereum, you should be looking at the Amazon/Google/FaceBook of the new paradigm that will be native to it.

He states that the blockchain is many factors off actual use, so did that hedgefund manager that wants to make a 500 million dollar hedgefund, but they make good points about how internet in the beginning was like this.

I would be with if this project didn't have a prior three year timeline with big name players talking to it. It isn't OmiseGO with a skateboard.

http://www3.weforum.org/docs/WEF_GAC15_Technological_Tipping_Points_report_2015.pdf#page=24

Here is the world economic forum from 2 years ago stating that Sergey's project will be the it project for Bitcoin and the Blockchain.

[Anonymous No.3657396]

>>3654826
Why can I not find chainlink on blockfolio?

[Anonymous No.3657406]

>>3657396
Sync your coins dingaling

[Anonymous No.3657413]

>an oracle not running on its own blockchain

[Anonymous No.3657467]

>>3657413
sergey was working on smartcontract.com before ethereum was a thing, but vitalik's a smart mofo and there's good reason that its being used to be built on.

plus its the best way to get funded as an ico using ethereum

[Anonymous No.3657924]

>>3657322
Appreciate the research and thoughts!

[Anonymous No.3657943]

I just bought some LINK. Does it matter that I bought it with BTC and not ETH? Will I still be able to go to the moon?

[Anonymous No.3657981]

>>3657943
No it doesn't matter.

Welcome to the LINK club fam_

[Anonymous No.3657982]

>>3657943
It's ETH based. Will it go to the moon? Grab some popcorn and a beer and wait for the main feature on October 17th.

[Anonymous No.3658053]

CHADLINKERS ARE THE MOST POWERFUL RACE

[Anonymous No.3658056]

>>3654873
>A blockchain that is not conpletely decentralised is just a database.
oh my god you are completely clueless.

The blockchain doesn't store "the data", the blockchain is used as proof, as verification for executing the contract.

[Anonymous No.3658067]

>>3655190
Chainlink promises to do for mainstream finance & business what Ethereum did for crypto.

Nick Szabo invented "smart contracts", and they were always meant to be used in mainstream finance & business.
There was simply never a supporting structure secure enough before the blockchain.

[Anonymous No.3658155]

>>3654826
This.

"Smart contracts" were invented in the 90s by Nick Szabo; and they were always envisioned to exist within mainstream business & finance.

The problem is that "smart contracts" are meant to be automatic, meaning they have to be extremely secure or no-one would trust them.
Centralized solutions for instance are worthless here, as single points of failure (or small number of points of failure).
So they remained a theory.

In comes the blockchain, and suddenly there is a secure way of executing smart contracts.

Why is the blockchain so secure?
It's decentralized. The proofs are everywhere.

How is it decentralized?
Because it is "incentivized"; i.e. people benefit from owning the proofs because bitcoin for instance is worth money.
(This is also why Chainlink's network is going to use tokens btw)

Now all you need is something that relays external information IN A DECENTRALIZED (and therefore secure) WAY to this "blockchain", and voilà, you can execute smart contracts in the "real world".

Chainlink is pretty much the ONLY solution that does this.
With a decentralized data input network built from the ground up.

They've been working on this since before Ethereum, which came earlier because it's that much easier to do smart contracts within the crypto space itself.

[Anonymous No.3658205]

absolute newfag mong here, link is really hyping me, i have some money in my bank account that i can spend on it, whats the easiest proper way to buy link right now?

[Anonymous No.3658301]

>>3655410
But the data is effectively decentralized... consensus throughput of data from multiple centralized sources eliminates all the voulnerabilities of a centralized data source, and the more centralized sources there are, the more secure is the oracle. So unless a malicious party controls the majority of the data sources (highly unlikely in most cases), the consensus throughput method eliminates any chance of fat fingering / tampering.

[Anonymous No.3658339]

>>3658205
Buy ETH or BTC on your preferred exchange, if you've never bought any just go to coinbase.com, register there and buy some. Then register on binance.com, transfer your BTC or ETH to your binance account and buy LINK.

There are other exchanges than coinbase that might be cheaper in terms of fees, but this is the easiest way if you're totally new.

[Anonymous No.3658398]

>>3658339
im a newfag too can i buy link on bittrex or where should i buy that?

[Anonymous No.3658412]

>>3658398

Binance.com

If you don't want to click my link google coinmarketcap, search for "LINK" and click markets and select Binance.com

[Anonymous No.3658413]

>>3658398
LINK is only on Binance or EtherDelta, it's not on bittrex.

t. another newfriend

[Anonymous No.3658415]

>>3658398
No, you have to buy on Binance.

[Anonymous No.3658416]

>>3658339
ur a flower bro lad

seems to me like BTC is crashing wole day, should i just wait till the end of the day to get it cheaper or is it too risky?

[Anonymous No.3658520]

>>3658416
>>3658415
>>3658413
>>3658412
thanks lads
also while im still waiting for my verification on kraken(europoor) how do i get those btc to binance if i have them?

[Anonymous No.3658526]

You just send them to binance you'll get a deposit link where you can send them.

[Anonymous No.3658530]

>>3658526
how save is to trust the chinks at Binance with my debit card?

[Anonymous No.3658552]

>>3654905
si, lamboland

[Anonymous No.3658830]

What did he mean by MOON components and GREEN cheese exactly? Is Sergey playing 4d chess?

[Anonymous No.3659312]

>>3654873
This is most likely SWIFT's last ditch effort before they're replaced. In the end it would only be a small upgrade to a dated payment infrastructure. Eventually the dated payment structure will need to be replaced entirely.

[Anonymous No.3659321]

noLINK BTFOed

[Anonymous No.3659330]

>>3659312
LINKers BTFO

[Anonymous No.3659718]

>>3659312
regardless, link is reaching at least 1$ next week, its basically free money

[Anonymous No.3659740]

>>3659312
Yeah it will but link gives banks autonomy and the ability to integrate and update at their own speed without Ripple.

[Anonymous No.3659762]

>>3659312
>In the end it would only be a small upgrade to a dated payment infrastructure.
Fiat isn't getting replaced any time soon anon.

And LINK will still remain as relevant even in an entirely crypto world.
Real-world transactions will still require a decentralized input network before smart contracts can be executed with blockchain backing.

SWIFT needs LINK, LINK does not need SWIFT.

>>3659740
This.