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20443993 No.20443993 [Reply] [Original]

Convince me why the token is necessary for chainstink

>> No.20444032

>>20443993
How about no?

>> No.20444071
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20444071

It's not necessary you shouldn't buy any.

>> No.20444106

>>20443993
This will be my good deed for today, 1 spoonfeed


The tokenomics of the LINK token.

1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data.
2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK.
3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink
So....
Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that.
There is infinite amount of collateral available because the token price can rise to meet it.
Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions.
Is 1000$ really possibly in say the next 3-4-5 years?

>> No.20444170

>>20444106
In other words it's a big fat Russian scam nothingburger schekelberg ponzi scheme.

>> No.20444228

to pay the oracles you fucking pleb
read the whitepaper cuck

>> No.20444273
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20444273

>>20443993

>> No.20444307
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20444307

>>20444170
Yes.

>>20444106
Russian Man Bad.

>> No.20444609

>>20444106
Couple issues. Why the fuck have a centralized system then? Only the high value nodes will be used for high networth contracts?? Seems stupid what’s the point then unless you’re arguing there are that many high value nodes.
Next issue, why does the token price have to appreciate so much of the token is divisible? The cheapos only get .00005 of a link token?

>> No.20444637
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20444637

>>20443993
OMGGGGGGGGGGGGGG AFTER EVERY LEG UP WE GET NUFUCKS WHO ASK THE SAME QUESTIONS OVER AND OVER AGAIN FUUUUUUUUUUUUUUUCK OFFFFFFFFFFFFFFFFFFFFFFFFFFFFF DO NOT BUYYYYYYYYYYYYY

>> No.20444719

>>20444637
Where’s the leg up we’ve been stuck below $9 forever now

>> No.20444793

Chainlink is a solution of a specific problem of a specific country so it was destined to go to 1k before it even existed