Why ChainLink WILL Fail

Yeah, and I'm the dumb one

Sergey's previously failed project that not many may know about; Secure Asset Exchange

youtube.com/watch?v=1nmLU284fIk

And how do you know what the fees are gonna be like?

you dumb motherfucker, clearly, you are a fucking retard

be happy i dont buy all the dislike bots or send you DDOS

his follow-up video: youtube.com/watch?v=x1R7wFK9SwE

All this FUD is already priced in :^}

share the pump bros:

BTC: 1EbC1N12ctHhPZUYHffCzyUbtk1CZdxDBj
ETH: 0x5d54713e65612145cd3559fb13574face1b0adbc
LINK: 0x5D54713e65612145cD3559Fb13574fAce1b0aDBC

Join our pump and dump group GOBIG on discord
discord.gg/bEWNT46
we will do a pump this Saturday

i like how shills avoid this thread

this guy is alright

The circulating supply is 350 million. At 45 cents the market cap is about 1/3 of what your "math" states. I stopped reading after that, not even going to bother trying to debunk the rest of your bullshit.

There are one billion coins user.

Yeah but only 350 million circulating, which is how you determine the market cap. Are you fucking retarded or just FUD'ing?

total supply =/= circulating supply

He compares marketcaps then factors in non-circulating coins into the said marketcap.
Opinion discarded.

Can you not send a fraction of a Link?

I'm glad that others see through this bullshit too. Sometimes I feel like I'm surrounded by complete retards here.

As someone who is above-average educated on smart contracts and the ChainLink network, I can clearly tell that you don't have any idea what you're talking about. It's like you put together the weakest FUD from biz into a video.

Also, stop advertising your youtube channel, we're not going to subscribe to you.

Of course you can, like every single coin/token out there.

Why ChainLink WILL Fail?
coz it's a shitcoin, that's why

>only 350 million
>only
Lol. And what happens when they 650 million others are slowly released? Marketcap wont keep growing with it user...

how often do tokens get created and how is created at a time?

The dude sounds gay as fuck. He says Veeky Forums is a cult and here his trying to prove he's some kind of prophet or something. If he's so fucking bright then why does he only have 54 subscribers? 50 fucking 4 subscribers ! ! ! Yet he's smarter than upper management at a multi billion dollar company (Swift)?

Literally all cryptocurrencies are speculation based on potential adoption. That is all anyone is ever speculating about. We are all talking in circles at this point.

This was interesting to listen to but you completely dropped the ball when you claimed that XRP and NEO function as oracles. You continue to further weaken your argument by using ad hominem attacks and showing ignorance by not knowing much about ICOs and saying you "don't care" about any of this. Good effort regardless.

>As someone who is above-average educated on smart contracts and the ChainLink network
Nice dude you sure showed us how educated and knowledgeable you are

This. Bottom line is that they already have their foot in the door with Swift and other establishments. People are just trying to push the price down for the next inevitable run up.

You faggots are so paranoid lol
There's no manipulation you tinfoil retards
It's a shitcoin, accept it, I already did

Smart contracts are interesting because they are decentralized. It is the decentralizing aspect that makes you trust them. They can only continue to be decentralized if they are used together with a decentralized infrastructure of oracles. Correct? Currently there is only one company who has solved this problem, namely ChainLink. So if you use ChainLink + smart contract you can literally fire millions of people because you won't need custodians anymore, you can automize everything. Which there is tremendous value in.

So literally every smart contract will have to use ChainLink. ChainLink will be asked to for example continuously query APIs, every second of every day. Let's say there is a smart contract that decides whether a road can be used. The oracles will continuously query APIs that deal with weather and road conditions and when some parameter is breached it alerts the smart contract. Doing this will take a lot of resources. Something that people won't do for free. The data centers that will do this stuff will take up a lot of electricity and the people operating them will want to get paid. THIS IS JUST ONE USE CASE. There are literally millions of use cases where ChainLink can be used.

continued.
Sure, right now smart contracts are not used for anything. So you could argue that no smart contract based coin is worth anything right now. Ethereum is worth nothing. Request is worth nothing. OmiseGO is worth nothing. But that is not how you ascribe value to these things. No you extrapolate into the future what they might be worth. That is why we holders see this as a useful coin.

It is not just transaction fees either. ChainLink is an API that converts the information from the outside world into a format that the blockchain can understand.

Bottom line is this. The industry of smart contracts depends on oracles. Oracles need to exist. LINK will likely be the primary currency that oracles are paid in, so the price will naturally go very high.

Please convince me why I am wrong and I might drop my bags. But to me, it is obvious that they are building a system that literally involves every type data that you can imagine, which will allow for extraordinary changes to our society.

>implying the current landscape for smart contracts will be the landscape in the future

The whole basis of a bet on ChainLink is that smart contracts will become utilized in the future vastly more than they are now. That's so fucking obvious that for you to not consider it destroys your credibility. Go back to brainlet training before you step to LINKIES again.

t. Colonel

U fucking absolute moron. ChainLink will change the way companies interact with the blockchain. How the fuck can u gauge the scope of that market. U have no fucking idea what u are talking about. When companies can interact with the blockchain easily it will become a trillion $ empire.

>Missing my point by this much

I'm telling OP to educate himself before trying to educate others, because it's really obvious he doesn't understand a lot.

The guy in the video is an obnoxious pothead. The tokens only usage won't be transaction fees, the node operators are able to hold LINK to gain trust in the network and there may be other use cases that I'm not aware of.
SmartContract.com holds 350M tokens, so of course they'll design ChainLink in a manner which gives LINK tokens value.

>he's posting the video made weeks ago by the pajeet who doesn't understand how market cap works again
Okay kid.

>transaction fees
wut
lmao
HAHAHAA
this whole fucking thread
nobody knows what LINK does
least of all OP
I can't fucking believe this many people haven't read past even the FAQ on the SmartContract website
LINK won't be used for transaction fees
LINK is the payment to the oracles
Transasction fees are paid in Ethereum
How do people still not know this
I cannot wrap my head around the absolute state of this place
holy fuck

Major Reporting in.

Glad to have shaken the weak handed free from the ranks. The Long HODL Strategy is what gets you to financial freedom.

Traitors be damned.

>a company whose value is created by the transaction fees paid to Oracles
The value is in the service provided, not the transaction fees. What is a company willing to pay to have a trustless decentralized oracle provide data to their SmartContract/blockchain? That's the value proposition.

Since you are moving information from A to C through B you can somewhat see it as a transaction fee. But as you say, oracles do not merely transfer information, they aggregate the information from many sources, which ensures safety. And not only that, several oracles will also query the same data source and compare the results all to ensure the data has not been tampered with since leaving the API. So an attacker cannot merely capture one piece of information and change the content, it must in that case capture a majority of packets that goes to different oracles, which will be very hard to achieve.

In a way you could see ChainLink as the new internet. An improved version of the internet that lets entities communicate with each other in a safe and decentralized manner.

There's no way this faggot ever read the white paper. He probably skimmed it for 2 minutes and then. He claims to have some extensive knowledge but all his arguments are strawmen or misleading.

He only feels emboldened because the price is low. Let the autismo have his moment in the sun.

op posted this video at 10k sats
link is now at 3700 sats AND FALLING

who is the actual idiot here? op or everyone still bag holding?

^ this
fair enough
and fucking cont.
Take home insurance (in an IoT future home) as an example of one business where oracles would feed data to a insurance company - customer smart contract. The oracles would provide data on the contract conditions such as was the home alarm activated and doors locked and the police notified etc. If these conditions were met the smart contract would automatically pay the insurance on the value of items stolen.
More than $12.4 billion worth of property was reported stolen in 2015 in burgerland. What amount of money would the insurance companies be ready to pay for the accurate and secure providing of the data translated smoothly into the smart contract? Whatever the amount it would flow through LINK.
And that is only burglary insurance (think fire and data if the stove is turned on...) only on home, only on insurance. An example from Sergey himself is about cold storage delivery, where the delivery service is paid if the thermometer is giving ok and all checkpoints signal ok. This scenario and Swift payment related scenarios aren't even IoT dependent, the home insurance is only to illustrate the ridiculous potential of this a decade down the line. The specialized scenarios which are already fit for smart contractilization through i.e. Switch which could be mainstream in a matter of a few years alone are also numerous and gigantic in economical sense.
If you're new to crypto or skipped the theory because you're just here to get rich quick let me give you a little 101: The decentralized security provided in blockchain is based upon incentives. Mine to get bitcoin, mining makes blockchain tick, yes? What are the appropriate daily incentives given when trillion dollar enterprise wants a secure bridge onto smart contracts? Ask yourself that.
AND DYOR FUUUUUUUU

To be fair, one requires a very high IQ to invest in Chainlink.

...

I don’t think people are putting enough weight into the fact that the fucking former chief scientist of RSA wrote the god damn whitepaper.

Confirmed retard

Great examples of links potential

>over 3 times more dislikes than likes
It must be a very intelligent video based on facts to piss off the linktards so much lol

All those examples are priced in though, that's the problem. It's what LINK can do beyond unlimited examples which will cause it to move the needle

Chainlink might fail horribly because the Devs are dumb and are letting chink whales control a lot of the circulating tokens. Poor communication and zero business sense. They think if the product is solid enough it will sell alone and crypto market might start a trend that cannot be reversed.
the concept and what Chainlink brings to the table is groundbreaking.
But the execution is awful and Link may die for that.
But at least it's not a shitcoin. Its value is shitcoin tier but the fundamentals are solid

...

>I know so much
>not disputing him
And LINKers wonder why they're crumbling.

u are still missing something. someone with a truck load of link can setup multiple nodes get gain majority in consesus production, bad guys still win

whales have absolutely nothing to do with the long term success of a coin.
Veeky Forums is just bad at math, link is way overvalued at $300 million or whatever

this is a poor argument. its exactly the same as calling BTC over priced at $10, and advocating you buy it at $5000

>What is ChainLink?

ChainLink is blockchain middleware that allows smart contracts to access key off-chain resources like data feeds, various web APIs, and traditional bank account payments.

By providing smart contracts secure access to these key resources, ChainLink allows them to mimic real world agreements that require external proof of performance and need to make payment in widely available payment methods e.g. bank payments.

>What problem does ChainLink solve?

Smart Contracts are unable to communicate with external resources on their own. Data feeds, any/all APIs and traditional bank payment systems are all inaccessible to smart contracts without blockchain middleware like ChainLink.

This limitation is inherent in how smart contract data is secured on a blockchain, and is due to the way that consensus is reached by miners around blockchain-based transaction data, this limitation will remain for all smart contracts for the foreseeable future.

The way this problem is traditionally solved is through the use of a blockchain middleware called an "oracle", which is the role ChainLink plays in the smart contract ecosystem.

>When ChainLink was $0.46 a coin (when I made this video), with 1 billion coins it is valued at $460 million.

How I know this OP is utterly retarded

still here mate. just being a bit quieter

This