/biz/ - Business & Finance

[Anonymous No.8512993]

Continued from yeserday’s thread:
>>8498318
>>8500674
>>8500674
I think we can work out the income you could make from a node based on the number of monetised API requests that are being made nowadays by traditional businesses and the amount they charge.
>https://nordicapis.com/the-ultimate-guide-to-pricing-your-api/
Assume that smart contracts requiring external data become mainstream and the crypto API economy reaches the same size as the regular API economy now.
Let’s take the “hobbyist” as equivalent to a NEET running a chainlink node. That’s 688,991 calls per month. Per year it’s 8,267,892 calls. Say you charge $0.01 per call, which nordicapi reports, and is the minimum Oraclize charges. That’s $82,678.92 a year. IBM Watson charges $0.0025 per call which would be $20,669.73 per year.

I don’t think Chainlink nodes will receive that many jobs upon mainnet launch. But as the smart contract economy grows it will need more and more APIs. I would strongly suggest running a link node and holding it until mainstream adoption.

[Anonymous No.8513008]

LINK is intrinsically worthless. Node operators can be paid in existing cryptocurrencies. Just look at the testnet right now, it only accepts ETH instead of LINK lmao. It means that ETH can easily be substituted for it, that is, if someone wants to fork the token to accept ETH (an established cryptocurrency instead of some fucking ERC20 token made with a two-man team), LINK is basically useless. That is besides the fact that everything LINK aims to do can be easily done by cryptographically signing the data from the API source.
>muh next ETH

Link, 5 months in: 35 cents (3.5x ICO)
Ethereum, 5 months in: $5.50 (17x ICO)

Uh oh, pissed stinker incoming HAHA.

[Anonymous No.8513014]

They already said data providers will be on the network day 1.

DAY 1.

Anyone that dumps on mainnet release will kill themselves after everyone realizes that there are data providers on release.

[Anonymous No.8513031]

>>8512993
Thanks for the summary, I enjoyed those threads yesterday.
Imagine i had the technical knowledge and the hardware and infrastructure to run a node myself, how am I going to find APIs I want to "offer" on feeding (amidointhisrite?) into smartcontracts? What kinds of APIs are going to be profitable or at least be frequented? I guess we will have to wait and see what kinds of possibilities emerge.

[Anonymous No.8513032]

>>8513008
really this tired ass copypasta again? it's posted like 10 times a day you pathetic /b/tard. come up with something actually funny and original if you're gonna shitpost.


hitting you with the R

[Anonymous No.8513074]

Its basically impossible to come up with a number
There is just to many unknown variables

Number of nodes
Number of jobs per day
Price per jobs

I mean sure you can look at current systems but you dont know what unkown markets Chainlink will tap
You dont know how much firms will pay
You dont know how big the api market will be in a year let alone longer than that
You dont know how many people will run a node ( i know they came up with 19k ppl who signed up but at least 5 of those are me and i dont even know how to run a node)
Also to conclude from that to the price per token is stupid
The market tends to overvalue or can fomo in for no good reason other than hype

[Anonymous No.8513116]

>>8513074
number of nodes
number of jobs per day
price per jobs
chance that your node will be called to do the job
how good your node is (although it can be related to above point) aka reputation
how many nodes you have
how much firms will pay per job, prolly differing in price depending on how important the job is

definitely agree with your last point too, people often forget that this is still a speculative market first and foremost

[Anonymous No.8513370]

>>8513031
>how am I going to find APIs I want to "offer" on feeding (amidointhisrite?) into smartcontracts?
If you can’t make your own then I think maybe you can provide publicly available ones which are free? But not sure.
>What kinds of APIs are going to be profitable or at least be frequented?
We don’t know. What kind of smart contract triggers might there be? That will determine which data are important

>>8513074
Obviously not, this is obviously an estimate. But it’s the most reasonable estimate I think anyone has made. And no, you can’t determine price per token based on price per job/node income but you can determine it from market cap, which is akin to market share.

Just because we don’t know for certain something doesn’t mean we can’t estimage what it will be in future. There are many publications saying that both the API and smart contract industries will grow in future. So The figures in the OP are assuming widespread adoption and standard current prices, we could do calculations for very low adoption, which as I said yesterday would be around $7000 per year if link did the same number of jobs and charged the same as Oraclize. But Oraclize probably has less than 0.0001% of the market share of the API economy. Don’t you think chainlink will do much better?

[Anonymous No.8513661]

>>8513014
If people get their hopes up about this too much, LINK is gonna dump HARD. Because people are speculating about all these partnerships (Docusign etc), when they inevitably aren’t on the link network upon mainnet launch, everyone is gonna be disappointed and there will be 1000 stinky linkies BTFO posts