[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]

/biz/ - Business & Finance


View post   

File: 452 KB, 670x381, 1640013033313.png [View same] [iqdb] [saucenao] [google]
52395791 No.52395791 [Reply] [Original]

People here complained during the bullrun, "why isn't LINK going up?". I hope it's clear now.

What recently unfolded was a lesson about time preference (short vs long time) and authenticity (grassroots vs astroturf).

Late comers to the crypto game, well capitalized but outsiders, deployed aggressive strategies. Reckless and greedy opportunists, nepotistic VCs, bad actors. Thought they could catch up with multi-years organic network effects with over leverage, make up for shit tech with aggressive advertising.

This entire bullrun was overtaken by the greediest VC schemes imaginable. Creating hype out of thin air with paid shilling and blatant ponzis. VCs rushing out astroturfed ecosystems, lazy copies of what organically worked on ethereum, but shilled without any moral scruples. Blatant price manipulation and wash trading by a literal organized mafia of late-coming market makers.

During the short term of the bullrun, I understand it was frustrating to see VC propped up garbage go up while LINK plateau'd.

Now look at the state of the shit these fuckers built and bet big money on. It seems like crypto is actually efficient at self-regulating, the shit gets flushed out quickly. No bailouts. Hubris and greed leading to implosions. Reckless players get punished. Secure and sustainable fundamentals matter. Builders outlast the scammers.

When Chainlink, or other og projects for that matter, were seen as being complacent, they were in fact being mature. Not exciting, boring. But focusing on growing the right way, still focused on network security and R&D innovation, generating sustainable adoption and long-term growth. Out of the control of the VC charlatans, refusing to rush out poorly engineered technology, refusing to engage in pump and dump games.

But now you see why these clowns having no interest in or control over Chainlink is a good thing.

Learn to recognize projects building long-term and growing organically.

Slow and steady wins the race.

>> No.52395811

>>52395791
FUCK SONY
FUCK JASMY
FUCK FTX

>> No.52395857

>>52395791
It’s common knowledge that 90% of LINK OG’s came from /pol/, and are thus unironic Nazis and extremely racist. This is evident when you look at the chats whenever Chainlink presents at conferences such as consensus or smartcon. It’s always N word this, N word that.

I personally don’t want to put my money into a project like that and keep that sort of company. Moreover, I question the intelligence of people who shill LINK given their backwards and racist political views.

>> No.52395889

>>52395791
The point was to buy the scams early, shill, and dump on normies to consolidate into link, eth, and btc

>> No.52395965

>>52395791
I'm a developer and I looked over the Chainlink white paper and documentation, as well as the blog post by Google. Here's a few reasons I would not use Chainlink for my own apps:

1. The current "mainnet" is not decentralized. there's no way to decentrally assess if an oracle is any good or not.

2. It took them 2 years to basically build centralized oracles, which is extremely unimpressive (and already exists). I do not have much hope for the future or the competency of their engineers.

3. The white paper doesn't coherently describe how they plan on making their centralized design decentralized one day. They broadly go over their "decentralized" reputation strategies as if creating sybil resistant decentralized reputation is something of an afterthought, when it's actually an unsolved computer science problem. They've had 2-3 years and 30mil in funding to actually publish technical specifications for this and instead they decided to build trivial centralized oracles. Extremely worrying. It kind of reminds me of IOTA "we'll remove the coordinator later". No you won't. You don't know how.

4. News outlet and journalists keep reporting on "partnerships" with Google and Swift. But if you actually read the source for the "partnership", it's just a blog post by Google Cloud that promotes their own service (BigQuery) and shows an example about how Chainlink users can use Google Cloud if they want. In no way is Google partnered or planning on using Chainlink themselves. The Chainlink codebase is extremely trivial to rebuild if Google wanted to get into the blockchain oracle space.

While there's certainly profits to be made by trading Chainlink, I recommend you do not HODL it with the hope that one day developers will adopt it as their source for decentralized oracles. That certainly won't happen.

>> No.52396051

>>52395791
Hi Eric

>> No.52396059

>>52395965
Thanks, just sold 100k.

>> No.52396086

>>52395965
hey devfaggot, this is your pm. stop making shit up on 4chan and get back to tonguing my anus or I'll have you written up

>> No.52396108

I don't trust Sergey, I am getting that SBF vibe from him, both of them are

-obese, socially awkward, and dresses like some hobos
- questionable personal background
- their companies' lack of business transparency

not buying your shitty pre mined token linkies

>> No.52396133

>>52395965
What crypto do you think is a good investment then?

>> No.52396156

>>52395791
where's the tl;dr cuz im not reading all that blah blah blah.
if you cant sum that up in 2 sentances you failed

>> No.52396162
File: 22 KB, 400x400, BCA26CD4-C0A4-446D-9CE8-8CE8937415F9.jpg [View same] [iqdb] [saucenao] [google]
52396162

>>52395791
Based. Everyone who holds legit quality projects on the chain with their own keys will make it. Every retard fag who invested in scams and trusted Jews like bankman get fucked. We win. I’ll still be here in 3 years posting memes and buying coins.

>> No.52396293

>Much like people check whether or not a DeFi project uses Chainlink price feeds, we should be checking how any project or company, Web2 or Web3, can prove that it has sufficient funds and doesn't put its users money at risk. "Just trust us" approach has failed us time and time again. Time to demand cryptographic proof. Proof of Reserve.
^^ from the official Chainlink discord posted by one of their Community Managers (Tatiana)
>Is it not ironic you guys are trying to preach this when there's zero transparency on chainlinks funds outside of being able to check the LINK wallets controlled by team?
^^Question from a user, yet it has been 2 days and the team haven't responded, just silence. Why are Chainlink so scared of being as transparent as they're demanding of other companies? What are they hiding? Seems scammy as fuck, basically like FTX with their "say one thing, do another" type of attitude.

>> No.52396322

ebin 4chonz nazis vs Central Bank Kikes and Relations

ITS HAPPENING.

TONIGHT.

FEW.

>> No.52396392

I'm sorry to inform you but everything that has anything to do with the etherum network is a scam.

>> No.52396564

>>52396162
Based. What coins to be comfy Anon. I reckon we get an AI crypto run next bull. AGI

>> No.52396576

>>52396564
Powered by Chainlink.

>> No.52396597

>>52395791
>lots of words
Haha fuck off gay

>> No.52397463

>>52395857
This

>> No.52397478
File: 841 KB, 1125x2136, 8039977D-8F86-49F4-8FA0-4AF0501BBC0D.jpg [View same] [iqdb] [saucenao] [google]
52397478

.