LINK hitting 34 cents and dropping rapidly

It hasn't even been a month since ICO. Why does everyone expect it to moon to high heavens so fast and calling it dead otherwise?

1. Eth and smartcontracts. We all know smartcontracts are revolutoinary, but their use cases are limited. Smartcontracts are awesome, but they are confined within the blockchain and data on the blockchain. In otherwords, right now smartcontracts are "you send 1 eth and I'll send back 1000 McTokens", and this contract is verifiable/trustless/amazing but its stuck within the universe of Ethereum and the data Ethereum understands

2. It is possible to use external data to inform these contracts, but right now that process is centralized. This is a problem. Lets say the external data is a transaction of Dollars for ETH. So you send 300$ to bank account X, and then I send one Eth to your address. Right now you either do that through a third party (CoinBase), OTC (LocalBitcoins) or whatever else centrlized system you want to use.

Knocking out that centralization, where you have to trust someone, is THE key to SmartContracts having a real world use case. But how do you get that information -- the fact that the $300 has been sent -- onto the blockchain using data that the smartcontract understands?

3. Oracles. Right now the answer is "hey we can hire Oracle X to do the translation to represent this bank dollar transaction on the blockchain." The "oracle problem" with this is that you are 100% TRUSTING that oracle to act prudently. That they don't tamper with the data. So we can kill coinbase but now we have to trust the oracle instead of coinbase .This is a HUGE problem for Banks who want to get into blockchain but have to trust a centralized oracle to translate data. This Oracle can be hacked, falsified or defrauded.

1/2

get a load of this fudding redditor and europoor

Ups, was not for you but for4. ChainLink - this service DECENTRALIZES that translation process of the Oracle. Now, the translation is trustless, and you have a trustless data feed that informs the trustless smart contract.

Multibillion dollar institutions can rely on distributed blockchain technology and know the data that informs their smart contracts is tamperproof.

So Thats what ChainLink does. ChainLink is the first decentralized Oracle that allows anyone to securely provide smart contracts with access to external data, off-chain payments, and really literally any other API you can dream up. Confirmation of delivery of an items (RFID, like Walton), confirmation of a wire being sent or received, interest rates from any central bank, sports scores, product/machine uptime, price of Eth/BTC in real time, weather patterns etc. Right now smart contracts are simple if/then functions where you go and manually do the if so the then comes back. Now with Oracles smartcontracts can automatically confirm or deny if then statements without any human interaction. Transactional automation for agreed upon terms on steroids.

Anyone can now engrain off-chain data directly onto the blockchain in an actually decentralized way and use that data to directly inform trustless smart contracts, and since the Oracle is decentralized you know the data feed is secure and you’re not concerned with tampering on the Oracle’s part. This is like a skeleton key to actualize the data on the blockchain and apply that data to real world use cases.

2/2

ADHD

There is no reason. I should have sold at 45 cents sigh

...

The conference today revealed to the world the stuttering potheads that run this scam.

Price has already tanked 45% from the all-time high. Once it breaks through the $0.35 resistance the panic will begin and small holders and speculators will begin to offload, with the whales already long gone.

Once it shoots through the $0.25 mark, unabated FEAR will ripe through all LINKies. With all those who dumped their current accounts into this scam twitching at their arsehole continuously while refreshing binance.

The $0.15 mark will be met, the largest panic in history will ensue. The final deluded LINKies will begin to stop posting, and wagecuckers with their NEETbux cheques loaded up in LINK will be left with it stuck in their wallet, unable to sell it on binance to salvage some self respect.

The price WILL tank at this point to sub $0.10, and most probably sub ICO levels.

From that day forward the deluded Linkie wagecucking shitposting nerds who bought this coin thinking it had fundamentals will go back to their jobs, with no money in their current accounts, to be made redundant by the next wave of pajeets arriving to undercut their wages.

Deluded LINKies will hold bags FOREVER, with no job, no money, and no crypto.

I warned you LINKies. There's still time to get out. Sell NOW.

Don't be deluded, don't be an LINKie.

New lows yet no bottom in sight.

*inhales*
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

You're allowed to swear here, newcoiner

lol just HODL dude....

Jesus, just put your tampon in and stop being so fucking menstrual.

>everything priced in for weeks now
Just hours before the actual demo there was news that the following were directly involved in the demo:
AXA
Sony
Barclays
BNP Paribas
Fidelity
Societe Generale
Santander

Priced in, my ass.

>no working product
Go set up an oracle right now on their website.

>team is silent
See the list stated above. They had NDAs clogging up their arteries.

>Sergei just wrote what everyone already know
Sergei silenced the fud that "the demo was just a pat on the back for winning SWIFT's competition" by confirming further discussions and development.
Sergei silenced the "lol 2 man team" fud by confirming they were hiring.

>exchanges are just rumors but would have happened already
They weren't focused on exchanges. But they better be after SIBOS ends today.

>no roadmap
The network is done at v1.0. All that needs to happen is constructive development (hence the hiring) and adoption (which will be greatly helped by the marketing effect from SIBOS).

>product is only working on ethereum
... and bitcoin, and hypgerledger. With more to come.

>sergei is working on smart contracts, which don't need their oracles to work, they can use private or free ones
See pic.
This was literally half of the SIBOS presentation. Notice the little chainlink logos everywhere?

>it'll take months or even years before they can start providing their own oracles
This could start today.

>companies are already using smart contracts and working just fine
In small-scale applications, like AXA's Fizzy.
Chainlink is the first and only fundamentally decentralized oracle network. It makes all other specifically developed oracle solutions obsolete.
Hence why AXA was involved in the demo. Their Fizzy could easily run on Chainlink instead.

>presale and ico investor still have huge bags of 2x-3x gains they're not scared to sell for better projects
Price has been pretty much level for nearly three weeks. If they wanted to sell, they would've done it long ago.

>ChainLink (LINK) has now established strong support and resistance points

Nice, thanks for the good news.

This. Comfy 300K Link holder here.

I'll post a screen from my lambo in 2 years. Mark my words.

>300K
Christ.

16k linklet here.
Low liquidity because I just bought a house three months ago.