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/biz/ - Business & Finance

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53428300 No.53428300 [Reply] [Original] [archived.moe]

Huge fucking happening, get in here. You might have wondered why CLL is still hiring while almost every tech company is in the news for laying off huge percentages of their workforce.
Well, as it turns out, we're about to do layoffs as well. There's been very tense discussions about budgeting and runway for the past few months, especially with how little the staking launch affected the token price. All of these advisors and senior leaders from outside the crypto space haven't come cheap, and our runway is a LOT shorter than it used to be. Apparently Sergey is not happy about the performance of the engineering team and they are going to be hit hardest by the layoffs.
That's right - it won't be the HR roasties that bite the bullet but the engineers actually building stuff. It's a matter of days, not weeks until this gets announced to the public. Supposedly around 15-25% of the engineers are going to get the axe, plus the entire recruitment team. Layoffs will be mainly those hired during the last couple of years whose compensation was artificially inflated by high token prices and general tech euphoria.
Screenshot this.

>> No.53428305

I don't ever read past "Chainlink Labs" because liteally only fud retards use that phrase, and I don't think I've ever missed out on any worthwhile content.

>> No.53428310

good, better if they do layoff the hrs

>> No.53428461

>I don't ever read past "Chainlink Labs" because liteally only fud retards use that phrase
yeah my dad works at chainlinksoft too and he said that you were a retarded nigger

>> No.53428562
File: 35 KB, 1319x483, CL whitepaper.png [View same] [iqdb] [saucenao] [google]

Imagine typing all of that and making threads daily for free! Even worse is getting paid to do that (they can't quit or stop!)

>> No.53428570

thank you chainlinkgod based king

>> No.53428582

oh shit. hes stopped dumping tokens and started dumping employees the fat gay cunt

>> No.53429016

Well, their day consists primarily of cooming to bbc cuck porn..they have a lot of free time to fud chainlink

>> No.53429417

Checked. They also lost a lot of $$$ on FTX (but will never admit it)

>> No.53429432

It's literal pandemonium at chainlink labs. Patrick Collins has walked because of the absolute state of the project, there are rumours floating that most of their profits made from dumping during the bullrun were lost on Bancor and Celsius and I'm hearing Eric Schmitt is also distancing himself from the project as well.

>> No.53429693


>has walked
You know Patrick works as an advisor now, right?

>> No.53429760

Kek please be true

>> No.53429890

>You know Patrick works as an advisor now, right?
Purely for show.

>> No.53429946

You should have done the opposite fud.
Sergey started hiring devs because he found out his 15 year plan will take 25 years thanks to feature creep and lazy devs "working" remotely.

If he fires them his 25 year plan will take 50 years.

>> No.53430338

While true, at least it almost captures the feel of 2019 fud, where everything had a bit of a wink and nod to anons who understood anything about the project. Humor still kind of lacking though. Overall this feels like January 2019, except the jeets and bots haven’t fucked off, but unfortunately I think they’re here to stay because its too profitable to shill here 24/7 for pennies.

>> No.53430507

Btw here is some hopium if you’re genuinely new and unsure what is going on;
At this stage of the cycle, bitcoin typically chops sideways for a year or so, trending up a small amount. This is the period where the alts from the previous cycle with no future die, as liquidity is pulled out of them both when bitcoin pumps, and when it dumps. Some of that goes to stables now which slightly alters the equation, but the effect on alts is still largely the same.
Right now, many alts are hitting new lows on their bitcoin pairs (value vs bitcoin), and the dead alts could still see this correct another 50 to 90% to the downside. Link remains up around 50% from its local bottom vs bitcoin, and did roughly the same last cycle, where it also bottomed in June of the previous year. If links bear market coin thesis holds true, we’re probably looking at another 2-6 months of chop vs bitcoin, where all alts continue to bleed sats, until link randomly begins trending up against the entire market for 1-2 years. If you genuinely believe link is a shitcoin, destined to only ever have 1 pump and die like the rest of the previous cycle shitcoins, this is crunch time for you, as it should break its local bottom vs bitcoin and continue to dump like all the other shitcoins. Guess we’ll know soon enough.
>2 more months

>> No.53430546

>I don't ever read past "Chainlink Labs"
I don't either. What did you type after that?

>> No.53430561

>guise, this is just like the 2018-19 bear, I swear LINK is about to take off any moment now, trust me guise I'm le heckling epic oldfaggerino!1!
this is how you know it's over, this bear market is not even comparable to the comfyness of 2018, this cycle effectively destroyed muh "4 year cycles", muh "altseazon", muh "S2F" and every other hopium pilled perma bull narrative
as for LINK, it is effectively a zombie crypto lagging behind the market since August 2020
any anon babbling about "long term hold" and "low time preference adhd impatient baggies" is engaging in blatant astroturfing and revisionist history, the expectation was ETH gains right from the start
everything else is gigantic cope

>> No.53430581

>this rally will fail like all the rest
Not saying it won’t, but you literally need capitulation to fuel a new run. Someone has to sell the bottom.

>> No.53430595

what rally? what are you talking about anon? are you advocating for diminishing returns WITH 80% corrections? do you realize what you're saying?
le 4 year cycle is done and we're unironically on uncharted territories

>> No.53430687

Bitcoin cycle has always had diminishing returns with 80% corrections, and technically the losses are diminishing as well, just not at the same rate (unless you believe bear cope about muh 8k).
Besides that, links true bullcase has always been about genuine usecase/value capture that would decouple from bitcoin. That could be beginning this year, it might take until 2030, its a risk/reward play like everything else in this market. I’m not trying to sugarcoat anything, merely presenting a possible bull thesis in a board with nothing but link fud threads and jeet/bot shills. That shouldn’t bother you as the rest of the board would happily agree with you that
>its over

>> No.53430809

>their day consists primarily of cooming to bbc cuck porn

Thats the dudes working at chainlink labs

>> No.53431293

"Patrick Collins has walked" = Patrick Collins has started his own company. lol

I heard a marketing executive left Wells Fargo to start a her own marketing company. Wells Fargo collapse confirmed.

>> No.53431380


>> No.53431467

This is the last nail in the coffin, im ao tired of this crabbing shitcoin. At this point there are better projects than this one. Its hard to accept but Chainlink wont ever be what it could have been. Im out. Someone recommend any alternatives?

>> No.53431469

LINK isn't capturing value. Crypto has no intrinsic value or use-case except to go up when the Fed adds liquidity to the market

>> No.53431486

BAND protocol

>> No.53431492

He started a company which audits smart contracts that use Chainlink.
If anything, his departure signals that the "development" phase of Chainlink is winding down, and "usage" is ramping up.

>> No.53431557

Based data backed take.

>> No.53431700

absurd mental gymnastics on display here. He left because the work at Chainlink labs obviously wasn't going anywhere.

>> No.53431741

> Engineering is behind
> So they are going to fire all the engineers
Kek, dumb larp

>> No.53431791

Amazing they still use it after being called out on it multiple times. Very sloppy fud. I guess they're too lazy to put actual effort in.

>> No.53431816

>absurd mental gymnastics
>work wasn’t going anywhere
Checked, do you know Patrick? You have the inside scoop?

>> No.53431887

>tl;dr just wait 7 more years in order to determine if LINK has failed or not
yeah, no

>> No.53431955
File: 305 KB, 974x1054, 1674663570164.png [View same] [iqdb] [saucenao] [google]

Token not needed

>> No.53432000

couldn't have said it better myself

>> No.53432058

The friction comes from having have to convert USD or whatever coin or token to LINK. If only LINK were to be accepted users would have to keep LINK in their balance sheet which can be a problem in certain contexts.

Automatic conversion is also a problem because of the gas costs. Let's say you want to use Chainlink to obtain a single random number and you want to pay in USDC. The gad costs for automatic conversion would cost more than generating the actual service.

This leaves us with the Chainlink network accepting payments in other forms than LINK. Then the question is how will they deal with the other tokens. Will they periodically be converted to LINK in batches? Will this be done in the open market or by buying their own reserves and effectively dumping those tokens to the market?

If we're to only think this with cold logic it's difficult to crypto economically to justify using LINK only in the long term. The team still has a huge reserve and is of course interested in that keeping and potentially growing in value. After the reserve is gone the only justification is moral obligations towards token holders

>> No.53432087

chainlink labs is the pretentious name those scammers gave themselves bro. i know you bagholders dont like hearing it

>> No.53432512

It's obvious Patrick wouldn't walk away from a company that's about to moon, that's just logic 101

>> No.53432767

Obviously. here's a thought experiment. Would Patrick have walked if the price of chainlink was $100. He, and others, obviously see no future there.

>> No.53432850

>It's obvious Patrick wouldn't walk away
He didn't "walk away", he's still retained an association with them as he's now an advisor. This means he will continue to receive compensation from them, probably in the form of Link tokens. Previously, he was on their payroll and I assume he was being paid in USD, which has nothing to do with Link's token value (from Patrick's perspective).
Lastly, just because he changed jobs, it doesn't mean he's sold his entire Link stack you dunce.
>wouldn't walk away from a company that's about to moon
If he already holds 20k tokens (for example), and he changes jobs, he still has 20k tokens even if Link moons, so he missed nothing! Your logic is flawed.

>> No.53432858
File: 966 KB, 562x817, TIMESAND___Link.png [View same] [iqdb] [saucenao] [google]

This movie is about Sergei, his business model and ethics, and his six-sided blue jew token.

>> No.53432902

>He didn't "walk away",
He did, but he's too polite to go scorched earth on chainlink labs and their incompetence as much as he'd want to so he's going to make it appear publicly that all is well with the company when in truth it's a disaster.

>> No.53432960

You act like you know Patrick personally and have insight on chainlink. In reality it’s all conjecture and you essentially know nothing.

>> No.53432993

What's happening at chainlink is obvious if you haven't buried your head in the sand like all these other retarded bagholders in chainlink labs /biz/ threads. They overpromised and underdelivered in 2022 and lost any and all credibility they had with people in the crypto space. Consequently even their most ardent supporters like Patrick, Eric schmitt are distancing themselves from this catastrophe.

>> No.53433024

Yeah I'm sure Apple employees walked away right before the iPhone launched

>> No.53433066

You better pray chainlink doesnt run out of runway because then SN would be forced to dip into his stash.

>> No.53433115

>more conjecture
Why are you so upset about the rate at which chainlink delivers? I would say it isn’t worse than any other crypto I hold personally, and others out there. Ada, hbar, eth for example.

>> No.53433156

What matters is if you have equity in the company or not. It literally doesn't matter if the company moons you're just a wagie on payroll - your pay will stay the same.
Do you think the former janitors working for Apple cry themselves to sleep because they quit before Apple mooned? lmao.

>> No.53433160

Maybe you're right, we should just lower our standards for the project then we can never be disappointed.

>> No.53433165

*if the company moons when you're just [etc]

>> No.53433212

You can be disappointed, fine. I don’t really care. I just want to know why. Do you have lots of experience running a business? Constantly meeting and/or exceeding expectations?

>> No.53433278

This type of fud is fucking cringe.

>hey guys, look at the way I type. I'm talking like this because I have proprietary information(tm) that only I could know. Look at this little nugget of information... 15-20%! I really know whats going on!

idk how to explain it, its contrived and completely unnatural while feigning naturalism.

>> No.53433294


>> No.53433883

There are currently 31 job postings on the Chainlink labs website

>> No.53434108

>This means he will continue to receive compensation from them, probably in the form of Link tokens.

GREAT to hear!!!! I was just thinking the other day that the team should dilute us even further for people who literally do nothing. GREAT work Serg!!!

>> No.53434201

Or he has a fat bag of Link and now wants to work on helping build more use cases? I want to build a company that bridges the industry I work in with smart contracts. I would absolutely need something like Chainlink to do this.

>> No.53434208

This. He's a classy guy and obviously in modern times it would be a colossal mistake to heir grievances on social media where it's permanent. Understandably the massive losers on this website have never had a good career going in their lives so don't comprehend this.

Those have been there for months now so who knows if the site is updated for reality or whether they're actually looking for those positions. Google, Microsoft, Amazon, etc., all just laid off thousands and they actually have revenue. So it'd be a pretty head scratching move to go on a hiring spree right now, regardless of how imminent muh "secret flip switch" is. They need to focus on revenue first, that's just basic business.

>> No.53434748

>massive losers with no career experience
What are you doing here? Let me guess, to laugh at chainshitters. That must make you a business owner, or an exec or director, huh?
>whether they’re actually looking for those positions
You could verify that on LinkedIn or indeed or some other job board, you know.
>muh FAANG
Did you know these companies are hiring too? You can simultaneously hire while laying off deadweight.
>hiring spree
I work for a company that’s looking to hire 60 people, why is it such a shock companies are growing and looking for talent?
>just basic business
Again are you a business owner? What makes you think the team doesn’t understand this? You have no insider info, you have no idea how this company is ran. You are speaking like this is matter of fact, when in reality it’s just your opinion. Not that I really know either. Or any one here for that matter.

>> No.53434920

Why are you so offended on behalf of chainlink labs, it's as if people here are talking shit about your wife or son, not some obscure crypto middleware bordering on irrelevance.

>> No.53434936

I think that’s what really drives a lot of anons really crazy, that at the end of the day, nobody really knows. The big difference being, in 2017/2018, someone with a 50k stack of link is only risking $10k. In 2023, you’re now risking $325k, and unless you held through 2017, also experienced your first -90% move, outside cz shenanigans in March 2020. The fundamentals haven’t changed, only strengthened since then, but the timeline is still completely up in the air (you can always be priced out via speculators long before adoption) and the amount anons have on the line in usd is roughly 30x greater even if you never took profits.

>> No.53434968

You first, faggot. Tell me why the rate at which chainlink delivers upsets you so much?

>> No.53435026

I'm not giving too much information away, don't wanna dox myself, but who on this board isn't upset about the rate of chainlink's progress? Does it satisfy you

>> No.53435035

To clarify what I mean about priced out via speculators, ultimately the link network has almost no true value right now, and that’s not fud. Its primary usecase is defi, which is in itself mostly just ponzi schemes that provide no value. And yet, purely on speculation, sub 5 dollar link has been taken off the value for 2.5 years. It’s entire possible $5-$9 is this cycles .40-.60 cents, and the next move creates a new floor that wrecks swingies, probably anywhere between $20-$150.

>> No.53435059

Taken off the *table, phoneposting

>> No.53435065

>stop being upset guise
>what gives you the right to criticize chainink bro, lemme see some credentials first
>heckling low preference fags, this has always been a 15 year hold, trust me, I'm an actual business owner that's how things work
yeah, it's fucking over

>> No.53435112

Thomas you already doxed yourself man.

>> No.53435134
File: 416 KB, 866x656, 1674311606227431.png [View same] [iqdb] [saucenao] [google]


>> No.53435186

Yeah, I’m good.

>> No.53435211

good to hear, enjoy your staking chastity cage you stupid cuckold.

>> No.53435246

Thanks, I’ll see you in the next thread!

>> No.53435294

wouldn't count on it, much like everyone else, I'm done with chainlink.

>> No.53435364


>> No.53435402

You guys always say this but you can’t help yourselves. Feigned apathy yet you still have to open the thread just to declare
>its over
But refuse to admit you’re emotional because god forbid you aren’t seen as “le high iq autist” who views everything purely logically at all times.

>> No.53435458

>feigned apathy
I truly don't care, I come to this thread to laugh at and bully delusional chainshitters as the other anon pointed out but I have no stake in this project.

>> No.53435652

Stinky chainshitters hired by chainlink labs

>> No.53435658

Why is nobody else talking about this?

>> No.53435710

Makes more sense firing product owners making sure shit was planned out and done.

>> No.53436096

Because we already knew the token was not needed. It's a guarantee at this point that SWIFT and enterprise will use the Chainlink network, but pay in something other than LINK. Keep up you fucking retards, LINK is NOT NEEDED

>> No.53436147

If swift uses the chainlink network not breadcrumb geniune use. Link will literally flip BTC. Verification not needed.

>> No.53436154
File: 3.64 MB, 7412x9360, 1674630628524513.jpg [View same] [iqdb] [saucenao] [google]

Lmao which of these wrecks is it? Currynigger, Thomas, Polack?

>> No.53436160

SWIFT will use the chainlink infrastructure but pay in their own SWIFT token.

>> No.53436228

The plan was always to make purchasing of Link on the backend an option. I don't know why this wasn't mentioned in the recent announcement. This will benefit stakers more as this route will cost the buyer more, with the fee being immediately converted to Link TYVM -the tokenomics of this project are fascinating, as Eric himself said

>> No.53436233

you guys are so interested in who I am? If you hate anonymity so much fuck off to reddit.

>> No.53436300

Lmaoing at your life. Link token is very much needed for the collateral purposes and for the security of the network like ETH. Proof of stake can not work without staking which shrinks the circulating supply therefore making it possible for Link token to reach unimaginable prices. 1000$ per token is fud. Not even taking into account of the network effect and metcalfe's law.

>> No.53436504

Checked, I genuinely believe if staking 1.0 releases before the peak of this cycle, we will see 4 digit link. The problem is we don’t know that staking 1.0 will release before this cycle is complete. And that’s not fud, just a fact, staking 1.0 is only feasible economically in a situation where there is massive demand for the link network, this all but requires a usecase like Swift.

>> No.53436576

>i don't like it when it doesn't pander to me

>> No.53436699

>/biz/ - Business & Finance
highly likely to be a larp as they didn't even mention the firings from sales teams:
but if true then sounds good, as should put focus on price. one big one would be getting the first build airdrops out. retail likes nothing more than airdrops and when they see those coming + then an expansion in the pool to 50m then could get the price moving

>> No.53438224

this token is fucking cursed
they fired the enterprise sales people?
I thought we were banking on enterprises pumping our bags

>> No.53438627

they've given up. nothing will pump your bags. LINK is the new XRP. Banks aren't coming to save you.

>> No.53438725

you have no idea the short-term chaos and destruction that sbf caused. he should be in jail for decades
in better new the market has now bottomed and most people in this world have goldfish memories
enterprise not so much but yeah

>> No.53438741
File: 351 KB, 1079x997, Screenshot_20230125_183810_Twitter.jpg [View same] [iqdb] [saucenao] [google]

This is kind of an interesting like from official SWIFT Twitter

>> No.53438772

The people working for SWIFT are chainlink bagholders. Their partnership announcement is a last ditch desperate attempt to pump their bags

>> No.53438899

>I-I’m done with chainlink.

>> No.53439663

>I-I'm done with bagholding

>> No.53440025

So you just randomly checked the “like” feature to see who liked a random post? Seems organic

>> No.53440400

>14 hours of trying to get people to sell their link (in this thread alone)
Nah... sorry you put in so much effort but I don't take financial advice from suicidal wankers that lose all their shit on lending platforms

>> No.53440692
File: 189 KB, 1080x1081, IMG_9507.jpg [View same] [iqdb] [saucenao] [google]

only polygon labs matter right now, have you seen the work this team has been doing lately?

>> No.53440992


They deserve to collpase. Axing the only people creating value and keeping the money pits. Sergey is stupid.

>> No.53441018

They're literally laying people off you pathetic shill

>> No.53441035

If not a larp you need to contact the SEC immediately. Protect yourself.

>> No.53441271


Won't be surprised to see Sergey eat shit, he deserves worse for not delivering on anything in 2022

>> No.53441415
File: 1.08 MB, 1225x1658, 1667640715993.jpg [View same] [iqdb] [saucenao] [google]

CLL inside here. Word around the office is all the researchers and engineers are getting the axe. Yes, even Ari! Sergey is extremely disgruntled with the current pace of R&D, in fact he's quite disgruntled with working in cutting-edge technology as a whole. The only staff that will remain will be the HR squad (he calls them "Sergey's angels" because they're all female), and CLL will soon shut down all nodes, sunset the entire oracle network idea and re-brand as a 100% female human resources-focused company, with future goals to also start livestreaming on Twitch and selling foot pictures on OnlyFans on the roadmap.

>> No.53442125

Lmao you are one of those losers and its funny watching you squirm

>> No.53442153

kek fudders get lazier every day

>> No.53443683

absolutely seething, kek.

>> No.53444139

That's where XRP comes in, it will bridge the liquidity gap between tradfi and defi and become the standard for cross border(and cross chain) payments. BTC should have been the coin to this but it gave up on this so it could make miners and speculators money.

>> No.53444242


>> No.53444472
File: 81 KB, 1433x527, 1674609499527379.jpg [View same] [iqdb] [saucenao] [google]

I am not the one making several chainlink threads a day, samefagging and seething about it

>> No.53444596

actual semi insider here, I applied for an engineering position at chainlink labs, after a long process (multiple interviews, ~20h home assignment they paid me for lol) I got an offer that was laughable compared to other offers I was getting at that time. there was a pretty cool vested token scheme or whatever, but base salary was really bad and I had to decline because I have mortgage and can't just hope to get rich in the future, I need hard cash month to month. yeah but anyway, OP is a lying piece of garbage, engineers don't earn too well at chainlink labs

>> No.53444617

Outsider here. I can't confirm anything that is being posted in this thread.

>> No.53444634

The guy whose tweet was liked took that screenshot

>> No.53444695

Worst decision of your life. NGMI.

>> No.53444712

fuck you all fags

>> No.53444789

>Worst decision of your life not taking a low salary and token that's fallen 90% in a year

HE'S ngmi? Or are you lashing out at someone who has bills to pay and can't depend on "trust > truth"?

>> No.53445036

This would make the token price go up.

>> No.53447427


Based. Where can I buy pictures of sergay's feet?

>> No.53447517

>he doesnt know
the collateral narrative got Btfo with super linear staking

>> No.53447625

Nope, super linear staking only covers instances of nodes colluding, read whitepaper 2.0.

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