Turns out LINK is not just a meme

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Other urls found in this thread:

link.smartcontract.com/whitepaper
blog.ethereum.org/2014/07/22/ethereum-and-oracles/
twitter.com/SFWRedditVideos

Why would you ever think it was a meme?
One of the most promising icos of 2017 and solves a problem in crypto that no other coin has tried to find a solution for, any non retard knew this shit is a easy gains

I believe now user. I was blind but now I see.

>tfw got here too late for the LINK party
I guess I'll just go kill myself

Still not too late

I need Ethereum to get it right?

It's only on etherdelta and just under 2x ICO.
If it manages to replace Ripple, that's x200 ICO.
If SWIFT or CLS actually implement it, there's no telling where this will go.

And it doesn't even need SWIFT at all. Chainlink will allow for smart contracts to be used in mainstream business and finance.

Now look at how big ETH got with its smart contracts for crypto only.

No shit read their website. Founder has been working on this for 3 years. They have a facebook engineering director as their tech advisor. They have the perfect domain name smartcontract.com. they have infinifely more validity than other shitcoins with billions in marketcap.

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What value does the token provide?

Used to pay nodes operators. Possibly: more LINK=more trust in your node=more usage=higher earnings.

Incentivising the decentralized node network, which is the key to obliterating inferior centralized products like Ripple or Oraclize.

So essentially GAS for an Oracle network? Why can't ETH do this

How often does this kind of hype happen here?

They could theoretically. Too bad they are tied up upgrading into POS. Plasma. Sharding. Literally a laundry list of difficult to achieve things to do first. By the time they get around to putting in integrated oracles chainlink will be $20/LINK.

ETH can't use external data, it needs something in between.
Just like a hamburger vendor needs a butcher in between to input the meat.

It's ran off of the etherium network though, isn't it? =/

kek

So it's a layer over Solidity? With templates to make easy consumption? Do you need GAS and LINK or is it just LINK or LINK -> GAS?

I don't want to miss this going up anymore.. I don't have any ETH yet though.. think I should do an immediate charge to my debit card or will it sit long enough for me to set up a proper bank transfer line?

Don't FOMO man, there's still a lot of time before this is listed outside of ED.

link.smartcontract.com/whitepaper

Oracles, baby.

I hate being a fucking wageslave so fucking much.. I have a decent amount saved but I work 5-6 days a week 12 hour days with a fucking hour drive each way. I HAVE NO FUCKING LIFE AND LOOK 38 and I'm 28

deep breaths user, we're all going to make it

>gives you Wikipedia home page for your answer
If you don't have an answer don't be a cunt

The market is no place for emotion.

With all due respect, you're asking me to spoonfeed you technical info when the information is all readily available.

I'm more than willing to give you general information and analogies.

HAHAAHAHAHA thats me soon fuk my lifeeeeeeeeeeeeeeeeeeeeeeeeeeeee

You really aren't late user. LINK is a fucking bargain right now.

I asked a very simple question and you linked me to the whitepaper. Have fun with your 0x vaporware.

stop complaining

buy link now and wait it out, and then you can say goodbuy to your lame as job

Stay ignorant and poor.

Everything is a meme. Your mistake was not realizing that the memes are real. Didn't you pay attention during the election?

Brah you can't even tell me how the coin works.

Just shut the fuck up and read it

it also locks up link in nodes similar how masternodes locking up coins. which means price should be more more + supply on the market should be lower.

If you don't want to read the whitepaper, you really shouldn't invest in LINK.
Go ask /g/ if you want the technical details.

I have 15k USD to mess around with

How much ETH and how much BITCOIN would you recommend I buy? And how much ETH into LINK?

Please save me

more stable*

It's not a coin, it's a token.

>Oracle problem
>j-j-just read the whitepaper
It's pretty easy to spot this is just Pajeet tier FOMO going on when no one has an answer for this

all into ETH
then all into LINK
gotta go all in for the big bucks

FOMOing really hard
S-should I go in with 1/4 of my portfolio?

You're two seconds away from reading all these threads about chainlink and a plethora of information on Google.

Seriously?
You shouldn't buy LINKs

>tfw I only had a few dollars left to put into LINK

It's pretty easy to spot that you are a low IQ nigger who can't read a whitepaper

You're invited to answer

Dont listen to these bizcryptofags and regret later.

Put it all into Vanguard ETF and thank me later.

Do not fomo.
Do your research. Thoroughly know what you're getting into before you buy. This is not a pump and dump.

I hope there are people reading this thread and realizing how much of this is people buying FOMO.

And this is why I'm trying to advocate to not fomo.
I don't get why people are willing to buy things without thoroughly researching.

Mind you I'm all in on LINK but I've been watching and reading this since August

All this fomo is just going to cause price spikes from weak hands

Most people understand how this works by reading the general info like Most people also understand that it's their responsibility to research the details.
The value is in the functionality.

I actually read the whitepaper you fucking spaz

Lol reading yours answers tell me you are a low IQ burger who is fed up of lose all their money gambling shitcoins.

Is it true ?

How did you get that out of this man's four posts?

>Shills vanguard RTF
>Calls others low IQ
And no Pajeet I'm not a burger.

>"o welp, it's the oracle problem, reed the wite paper!"
Why can't either of you answer my question on the usage of your coin (it's a token, you dib!)? If you're going to shill, at least be convincing. You can't tell me the "technical details" for the usage of what is backing your money. You're a fucking idiot, please kill yourself.

How are you brethren storing your coins? I'm making a new wallet and I was wondering if anyone has suggestions.

saying you're late to the party would be like saying you missed out on ETH because you bought at 10$ and not at 1, wtf

yobit i send link token to esper wallet

Don't buy Link. Please
The usage is to pay node operators for compensation running trusted nodes.

2 seconds to read the white paper under token use.

The token is used to incentivize the decentralized network.

The token is there because ETH cannot directly interface with external Oracle data providers, and the ETH network would be overburdened anyway.
See blog.ethereum.org/2014/07/22/ethereum-and-oracles/ where Vitalik explains how the best Oracle solutions would be built on top of Ethereum.

The network is decentralized because this is a much more better solution than centralized offerings like Ripple, Reality Keys, Oraclize, ... for the same reason Bitcoin is decentralized.

You haven't read my other posts, even though I've already replied to you asking my question, check my ID. I already realize that.
>Don't buy Link. Please
Right now I don't really want to your shitcoin desu. You guys do a terrible job selling a product. Keep jerking off with your FOMO boys.

You've spent the entirety of this thread complaining how no one is answering your question when we're telling you where to look for yourself.

And why would you believe some user on this thread of how the token works??
I could have just said it's used to pay ripple centralized servers and given you false info.

Stop asking to be spoon fed and please don't buy link period

LINK is the "road toll" / fee that organizations pay to the oracle node operators for using the SWIFT / SmartContract Oracles. The oracle nodes are just connection points that process and feed data to the blockchain from external APIs which could be anything that a business / organization might need. So for example flight data for a Lufthansa, so that if your flight is delayed by x hours, the smart contract automatically refunds x % of your ticket price. In the past there has been no way for the blockchain to interact with that external flight data, but ChinaLink changes that.

This question gets floated around a lot here, so you're free to use it as a pasta if you want.

We stopped fudding a few days ago you can get on board now

>Right now I don't really want to your shitcoin desu.

It's always a good sign when willfully ignorant money stays away.

Ok, I understand
>decentralized exchange
>oracle problem


You're building on top of Etherium, meaning anything you can do ETHERIUM can also do.

So, does it need --
a) GAS and LINK
b) LINK
C) LINK -> GAS

who gives a flying fuck what any of these tokens do THIS LITERALLY THE MEME MARKET and chainlinks got it all baby!

i agree whole heartedly. We don't need ignorant weak hands.

turns out OP is a faggot

really?

5.5 LINK token usage
The ChainLink network utilizes the LINK token** to pay ChainLink Node operators
for the retrieval of data from off-chain data feeds, formatting of data into blockchain
readable formats, off-chain computation, and uptime guarantees they provide as operators.
In order for a smart contract on networks like Ethereum to use a ChainLink
node, they will need to pay their chosen ChainLink Node Operator using LINK tokens,
with prices being set by the node operator based on demand for the off-chain resource
their ChainLink provides, and the supply of other similar resources. The LINK token
is an ERC20 token, with the additional ERC223 “transfer and call” functionality
of transfer(address,uint256,bytes), allowing tokens to be received and processed by
contracts within a single transaction.

that's from the whitepaper

Dude I already knew this, fucking lmao.

Lets take that flight example. Why use blockchain for any of it? Just write software that does the refund using the airlines database (this sort of thing already exists). No need for a blockchain. If a refund isnt issued when it should then customer complains and regulatory bodies blow them the fuck out. No need for a blockchain to "garentee" it. Id love someone to give an actual blockchain use case OTHER than a secured and decentralized method of transfering wealth. It doesnt exist.

>Why use blockchain for any of it?
Because the blockchain provides the ultimate decentralized proof.
Everyone who owns a copy of the blockchain is part of the proof.

This is precisely why the financial world is clamoring to adopt it in a meaningful way.

You can't spell for shit and this coin is being made to serve finance, while have other possible use cases.

You're either a dumb pajeet or a really skillful fudder

Tbh, i srly liked the Chainlink project and was one of the first ones who filled the pre-sale, but this shit on Veeky Forums now doesn't look comfy anymore. Way too much shilling and way too much weak handed normies in this.

You really don't understand the basics, do you?

Open whitepaper, ctrl+f, "gas"

then you would know that no where in that clause does it say it needs gas and link. Just Link tokens

Maybe you should try actually reading some of the threads instead of scanning for the FUD/FOMO balance.

Like and

1 result. This does not answer my question.

Again you havent said why you actually need a blockchain here. No one is going to dispute the flight data / times. These are already syncronised across multiple systems. It is a highly regulated thing. Blockchain "proof" is redundant here. Its ok though ill give you a chance to offer another example.

Boy, i am already in. But the FUD / FOMO balance is important to calculate the trend. You srly think anyone here right now wont sell the SIBOS?
Long term is a whole other story.

but that's the thing. All that software is centralized.

Remember the equifax hack? That's because it's centralized.

The key concept is having a decentralized approach to prevent shit like that

>You srly think anyone here right now wont sell the SIBOS?
I'm sure they will, but it's retarded.

SIBOS isn't some make or break unknown, we know exactly what is going to happen at SIBOS.

The only difference between pre- and post-SIBOS is how many people are aware of Chainlink.

> Don't drink the water anons, it's poison!
> Ok, sounds reasonable.
> Look at all the people dying, it's poison!
> Ok, got it. Poison water.
> Nah, just kidding. It's not really poison. Look at all the water here I've accumulated in my buckets. Go ahead, have a drink. You can trust me now because I have a lot of water.
> Nah, that's alright. Enjoy your poison water though. I'm going to go drink a soda.

It actually does, you just don't understand it.

It probably has a lot to do with the fact that you don't know the difference between a coin and a token, and haven't actually read the whitepaper entirely yet.

This is exactly why people on here are happy to provide general insights and context, but won't spoonfeed you the technical details.
Because once you try to explain one technical detail, you really have to explain everything around that technical detail for it to make sense.

>If a refund isnt issued when it should then customer complains and regulatory bodies blow them the fuck out.

This. This is why we need blockchain. You know most customers can't actually bother jumping through all the necessary hoops, the organizations don't want to deal with 90% bullshit complaints, there still needs to exist a huge personnel infrastructure to handle them and no two identical issues are guaranteed to have the same outcome.

You literally outlined your answer in your own question.

true they have spent lots of money on making those systems as robust as possible, but regardless its centralized and prone to being hacked.

the goal is to provide a trustless decentralized solution and that's what chainlink aims to do. do they need to adopt it now? no

but its a solution to provide your data to the blockchain to have it verified by everyone on it

Same, 28 looking old as fuck, have already quit the wage cuckeri. But live really small of, of my profits. Im just waiting now.

Yes but flight data does not need to be decentralized. The system already works and is heavily regulated otherwise it would be chaos and we would have planes colliding on runways etc. Also taking it further the data has to be put into the blockchain at somepoint which is always going to be from a centralised system. If data can be manipulated before going into the current system then it can be manipulated before going into a blockchain. All this is doing is moving the goal posts for where the real world data is put into the blockchain.

Right man, I've tried fishing an answer out of you for like 10 replies. It would have been much more simpler for you to have just answered me. But, here we are, still no answer except "Its in the white paper! just believe!"

You're right. Good post.

the flight data is a use case example. No one not even sergey is saying they'll adopt it.

"ChainLink bridges smart contracts to key off-chain resources like data feeds, legally binding e-signature and bank payments; allowing them to mimic real world financial agreements, for example: "

yes I agree with you right now the main use would be for banks, and that is exactly why swift invited sergey to demonstrate a working demo at sibos.

the key thing to take away is that chainlink isn't just limited to just the data of transferring wealth

You just posted part of the answer.
You just don't understand it.

And for me to meet your "explain it fully" requirement, I would have to explain a great many additional technical details. Even up to the very basics of bitcoin itself.

You have the basics of how it works, now dyor.

no one said its in the whitepaper just believe.
you're asking questions which a few individuals have posted and you're still asking the same redundant questions.

what have you not understood?

ah nm i get it... you're trolling us lol you're not that dumb

>but flight data does not need to be decentralized
The flight data itself is gathered off chain of course, the blockchain can't verify plane landings.
But the data is entered into the decentralized network for the contract to take effect.

That's the key: the contract is supposed to execute automatically. That's what a "smart contract" is.

...

Just write software to do it then using the same data feed api. The more you think about it the whole eth ecosystem is just snake oil.