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/biz/ - Business & Finance

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3669022 No.3669022 [Reply] [Original]

Doing what I thought I should have done last night and dumping everything else I have and going all in on LINK.

If you want to know why this is a HOLD coin and not a shitty PUMP & DUMP scam then here.

https://www.youtube.com/watch?time_continue=16&v=nMlpTgxKtAY

ChainLink is a ERC-20 token on the Ethereum blockchain that will connect outside data to the blockchain. This is known as acting as an oracle.
Smartcontracts are cool and all, but in their currently iteration, are basically limited to funding ICOs (not cool). They are essentially useless. We need oracles to provide real, accurate, decentralized data from outside the blockchain to smartcontracts so they work intelligently. ChainLink does all of this.
ChainLink also won a competitive bidding process last year to win the opportunity to develop a Proof-of-Concept with SWIFT. SWIFT is the largest international banking communications system, with over 11,000 partner banks. When a bank needs to send an international wire they use the SWIFT network to process this. ChainLink is the only blockchain partnered with SWIFT to facilitate this process.
SWIFT hates Ripple for numerous reason, and would love nothing more than to see the useless project turn to dust. ChainLink can essentially make Ripple useless as it will enable financial institutions to still utilize SWIFT and connect to other blockchains via ChainLink. This will enable decentralized, fast, cheap, transfers between financial institutions and blockchain. Literally the future and financial remittance.
ChainLink's current marketcap is only $93m, which is laughably low for a project of this caliber, that already had as working project. How many ICOs have you contributed to in the past 5 months that do not have a working product?

>> No.3669027
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3669027

>>3669022

Now for those of you who say, "Marketcap doesn't matter". Fine. The coin is trading at only 27 cents. That's right not $27, but 27 cents. Anyway you slice this valuation (marketcap or current price), it is massively undervalued for a project that has a partnership with the de-facto international financial transfer communication network, has practically no real competitors, has a working product, and has been developing for over 3 years.
The Proof-of-Concept with SWIFT will be demonstrated in a few weeks at SIBOS, which is one of the largest financial conferences in the world. Numerous bank executives and very influential people will see first hand the future of financial remittances, showcased by ChainLink. This is like getting into ETH at $5, BTC at $80, OMG at $.80. The groundfloor.
You can also run a node, which will essentially create an oracle so that people can use the data you provide for their smartcontracts. There are 350m coins that have been set aside to incentivize node operators, not limitation on the amount you need to stake. Unlike most other coins.

>> No.3669045
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3669045

Some of you are alright.

I've done my research.

Get in here

I will answer questions if I can.

>> No.3669095
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3669095

ETH and smart contracts. We all know smartcontracts are revolutionary, but their use cases are limited right now. Smart contracts are awesome, but they are confined within the blockchain and data on the blockchain. In other words, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but it is stuck within the universe of Ethereum and the data Ethereum understands
It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Let's say the external data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centralized system you want to use.
Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the $300 has been sent -- onto the blockchain using data that the smartcontract understands?
The answer: Oracles. Right now the answer is "hey we can hire Oracle X to do the translation to represent this bank dollar transaction on the blockchain." The "oracle problem" with this is that you are 100% TRUSTING that oracle to act prudently. That they don't tamper with the data. So we can kill coinbase but now we have to trust the oracle instead of coinbase. This is a HUGE problem for Banks who want to get into blockchain but have to trust a centralized oracle to translate data. This Oracle can be hacked, falsified, defrauded, really all the problems that come with cenralization.
ChainLink - this service DECENTRALIZES that translation process of the Oracle.

>> No.3669276

Great post. SIBOS will rock the boat.

I have no problem buying more at current ATH.

>> No.3669332
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3669332

Now, the translation is trustless, and you have a trustless data feed that informs the trustless smart contract.
Multibillion dollar institutions can rely on distributed blockchain technology and know the data that informs their smart contracts is tamperproof.
So that's what ChainLink does. ChainLink is the first decentralized oracle that allows anyone to securely provide smart contracts with access to external data, off-chain payments, and really literally any other API you can dream up. Confirmation of delivery of an items (RFID, like Walton), confirmation of a wire being sent or received, interest rates from any central bank, sports scores, product/machine uptime, price of ETH/BTC in real time, weather patterns etc. Right now smart contracts are simple if/then functions where you go and manually do the "if" so the "then" comes back. Now with oracles smartcontracts can automatically confirm or deny if/then statements without any human interaction. Transactional automation for agreed upon terms on steroids.
Anyone can now engrain off-chain data directly onto the blockchain in an actually decentralized way and use that data to directly inform trustless smart contracts, and since the oracle is decentralized you know the data feed is secure and you’re not concerned with tampering on the oracle’s part. This is like a skeleton key to actualize the data on the blockchain and apply that data to real world use cases.

>> No.3669344
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3669344

>>3669276
Some /biz/ards helped me make some real money so I'm trying to help those who are willing to actually learn and listen.

>> No.3669353
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3669353

If someone wants to help me out please send 60 link to this adress. I have 3940 Link and i cant be comfy (autissmmmm) until its 4k.

0x922A208443203a16705F42f3A14BA3d1B051c964

also i helped shilling a lot with memes

>> No.3669384

>>3669353
the price is going wild right now, just sell some high and then buy some low. Send your extra trash off to some rando wallet.

>> No.3669391

>>3669384
i wish, but first i gotta deposit the 0.01 eth i have into etherdelta which already takes hours
now i gotta deposit my link
now i gotta sell my link

3 hours +

>> No.3669430

>>3669391
increase gas my ninja

>> No.3669435

>>3669353
I have 1438.87 LINK and it's driving me nuts, I need 61.13 LINK. Help me out anons before I fucking kill myself

Just .13 would ease my PTSD
0x174D2Ab891c2D3056163d28c08C77ee7b7D7255E

>> No.3669446

>>3669430
i have 0.01 eth left

i would have to make a 20$ bank deposit to cuckbase

and until then...

please rich anons :c
im all in on link since 0.0005 but even now i just have 1,5k~

>> No.3669477
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3669477

>>3669022
IM listening OP but that photo of the moon is fake. This homeless tweaker shelter is what they "went to the moon in"

>> No.3669536

Honestly, If I wasn't a poor fag I would be all in on this project. Not because of the moon mission but because of what OP is saying. This is huge and will go places. Bummed I'm missing out but it happens

>> No.3669585

>>3669022
>>3669027
>>3669095
>>3669332
ALL COPY PASTA REEEE /biz/ HAS NO ORIGINAL THOTS

>> No.3669630

>>3669022
It's shit. It's all shit nobody asked for, and nobody needs. Just more middlemen trying to insert themselves at every step along the way to charge for something that can otherwise be done for free anyway.

/biz/ is such shit tonight. One thing is clear as a bell: when the shilling gets as obnoxious and pervasive as it has for link tonight, you just KNOW that the coin is done. It's hit its all time high, the pump is over, goodnight.

>> No.3669653
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3669653

Why say the same thing 9 different ways?

When you've got it all typed out, you've got it all typed out. It covers the basic intro to the token