ChainLINK's potential

I noticed a lot of you guys didn't know what ChainLINK would be actually useful for or get too hung up on the "banking" premise that was shilled a lot on Veeky Forums. Let me explain the TRUE merit of ChainLINK.

Bitcoin was the first decentralized currency that was trustless in nature. Ethereum was the first decentralized smartcontract service that was trustless in nature.

ChainLINK is the first "bridge" between real life data and crypto that is decentralized in nature.

What does this mean?

ChainLINK can take real time datastreams like Sensor data/non-crypto financial data such as real time interest rates etc and combine it with smartcontracts.

What this does is create tremendous potential wealth and make businesses possible that weren't possible before ChainLINK existed.

Let's look at the examples of how ChainLINK could be used in real life with one thing that is already confirmed.

A startup called Confido wants to make a payment and delivery system where they will use real time data from the delivery service's sensor system if a package actually arrived or not. When the sensor data confirm that the package is arrived a smart contract will automatically pay the vendor of that package automatically. This type of service would be impossible with ChainLINK if you'd wanted to make it trustless without 3rd party meddling.

Other potential things that could be done ONLY with ChainLINK.

Other urls found in this thread:

discord.gg/tUZVSCv
imgur.com/a/mkod3
twitter.com/NSFWRedditGif

>Trustless Gambling
Racehorses gets sensors in them whichever reaches the finish line first gets their data send to ChainLINK which then through smartcontract pays out everyone that betted on that horse. Online gambling where the roulette has sensors in every landing place and automatically pays out to whomever betted on that automatically through ChainLINK.

>Trustless Insurance,Trustless Warranty
When you have a car it could automatically send it's realtime data like speed,GPS position and miles driven to ChainLINK. And it could in real time change your insurance terms based upon your driving behavior and if you crash your car pays out (or not) automatically based on these sensor data without needing a third party.

Same for Warranties. If the sensor data shows the warranty should apply it could automatically pay the party or if it is voided it automatically voids the smartcontract.

>Connecting all currencies
ChainLINK can actually be used to link different currencies such as dollar,euro,yen with all different cryptocurrencies and each other. Because you can input real data into it you could make it so that banks could "lock in" things like "Bank A coin=$5" and based upon how much other coins are worth in real time feeded to ChainLINK would make it possible to buy "Bank A coin" with ALL different cryptocurrencies even though they only accept dollars.

(2/3)

Last but not least
>New bank shattering application
You know when you pay for something and you don't want to use your creditcard because of fees? So you go and do a wire transfer straight from your bank to another one.

But then you usually have to wait a couple of days or even a fucking week if it's international and you are unlucky.

Well. ChainLINK is the solution to that. A bank (or third party application) could just feed the information from Bank A that you made a wire transfer to Bank B. And then through ChainLINK combining that data with a smart contract Person that has Bank B account gets paid that money immediately and so the vendor/friend/whatever that uses Bank B knows that he got paid even though he hasn't received the money yet and thus can give the guy from Bank A his goods/whatever immediately. Thus cutting out Creditcards/Wire transaction time and everything WITHOUT having to use cryptocurrency per-se as the end user.

THIS is why LINK is the most talked about coin on Veeky Forums since ETH. Because it'll be a game changer.

Sure you can say "There is no guarantee it will be adopted" or "Why won't every of those businesses not just program their own solution".

But I could say the same thing about ETH "What if smartcontracts won't get adopted?" "Can't companies not just program their own smartcontract services?"

The answer is NO. Because the value is added due to it being DECENTRALIZED. There is no third party that can meddle with the transaction. It's all real time based on sensor or other outside information which gives security to the users.

I hope some of you understand the potential of LINK some more right now.

(3/3)

HOLY SHIT. Notice how no one replies because it's not FUD

Yeah Confido I'm excited about. Will actually use it as a product in my personal life. Also, Request.Network has stated on Slack that they may very well use ChainLink

>inb4 fudders think a ONE MONTH OLD coin is dead forever lmao

this

Crypterium. Nigga, do you speak it?

I'm also bullish on Confido.

What are my chances on getting in on stage 2? I'm whitelisted but it seems everyone is

Got my life savings in ChainLink. About ~200K
See you guys in lamboland when this shit hits $10

Most of the market share in crypto usually goes to the pioneer.

Bitcoin was cryptocurrency pioneer (litecoin doesn't compare). ETH was Smartcontract pioneer (NEO doesn't compare).

The same with LINK it's the pioneer that has the very first working product. Crypterium might become the Litecoin/NEO of LINK in the future though so it might not be a bad investment.

Realistically, pretty much 0. People have bots stand ready to make the transaction within a fraction of a second when phase 2 starts.

decentralized oracle is a good idea. the biggest problem is that ETH as a platform is utter trash and will surely be replaced, taking erc-20 garbage along with it. theres also no real technical reason for chainlink token to increase in value, and the details of its use in the whitepaper are very vague (pic related). there is no reason to use chainlink tokens for this application instead of ETH itself. surely someone will create software that performs the same function, but is not joined at the hip to ETH and can be used for any smart contract platform and uses a payment method that doesn't involve arbitrary tokens

Thank you for posting this. It's sometimes hard to explain what chainlink does in simple terms like this.

I hope 18 cents was the all time low forever from now on.

It's not that vague.

You need to pay node operators using LINK. So every of the services I said as an example above needs to be paid using LINK as the transaction fee. So even though people pay using Ethereum or whatever they want to use they need to own a bit of LINK to make the transactions.

The entire point of ChainLINK is to make a lot of businesses possible and have as high of a adoption as possible because more transactions=more demand on LINK tokens thus increasing the price of LINK tokens.

Of course LINK can also be used as a currency itself just like ETH even though it was never meant to be used like this ETH is still used as a currency LINK will probably be the same if it has a wide enough adoption (which it probably will).

Sending a single timed transaction doesn't sound that hard to program if that's what it takes.

>Let me explain the TRUE merit of ChainLINK
>Never seen this thread before
>....
>I was wrong the whole time should have bout in at .40

lets make mula join the crypto pump n dump group! discord.gg/tUZVSCv join $

tfw FUD has made me question if this post is sarcastic or not

This thread has unironically made me buy LINK i suggest you to read it as well

>When you have a car it could automatically send it's realtime data like speed,GPS position and miles driven to ChainLINK
no one wants this
>Connecting all currencies
American Express tackles this already
>You know when you pay for something and you don't want to use your creditcard because of fees?
This has never stopped me from buying anything on my credit card.

>4 Chan posters are the only people talking about how great this is
4 Chan....This will get the major investor in

/erc 20 thread

guess you didn't grasp the whole concept of cryptos. pls never post here again.

Not really relevant.

Profit companies make is usually higher than the infrastructure they are build upon.

Google makes more profit than internet providers. Mining companies make more profit than mine owners. Food retailers make more profit than farmers.

This is always the case. The further in the economics chain you get the higher the profitability is. ChainLINK has the possibility of being more profitable than ETH itself and thus it doesn't matter if it's build upon the ERC20 infrastructure or not.

Remember when every alt coin was garbage until ETH became succesful and now people believe in alts?

The same is happening with LINK. Everyone think ERC20 tokens are trash but there is a genuine chance LINK will disprove that like ETH disproved that altcoins are by definition trash.

you sound like a no coiner faggot lmao

Holy shit I'm not even a LINK hodler but that was such a fucking weak set of arguments

this guy seriously needs to kill himself to prevent spreading this mental disease he is suffering

This is what linkies actually believe!

This arguement is so stupid. Its important to tether the price of the service to a token thats seperate from Eth. That way the market for the product is contained within the token itself and not Eth.

I mean just to further explain how dumb this argument is, you can literally apply it to any ERC token that ever existed or ever will exist. You could have made this argument against OMG as well when it was at 20 million market cap (at 700 Million market cap now)

I wish I owned more Link

GOD DAMN how do i into more without kneepads or money

Sharpie, the only way

you could suck dick for 0.1 Link in the future

Here's what you do, sell it now and buy again. When it is 5 cents

>Delusional LINKfags are still trying to sell their bags

this is what is possible from a technical standpoint with chainlink. the only people denying this are people with 0 technical knowledge. He doesn't even say anything about price, pure technical possibilities that are already confirmed you brainlet.

>ETH as a platform is utter trash and will surely be replaced
What is Plasma and Raiden
See you at 600$ poorfag

Oh nice insight, I didnt hear this shit ober and over the last month
Admit it, you just invested in something that dosent need to be expensive to work

And if bankers are going to use it, it will be cheap-o as fuck

Fucking linkies...

And the racehorses' sensors are plain dumb

I FUCKING SOLD EVERYTHING AT 3.3K THINKING IT WOULD DIP BACK TO 3.1K TO BUY BACK IN AND NOW IT'S FUCKING MOONING

AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

SHOULD I BUY BACK NOW?

That's why i said without kneepads idiot

Never

I own 55 link

>mooning

It went up against usd because BTC went up and it kept the same btc price

Im holding, link will be huge in 2018.

The fud make me laugh, meanwhile, im buying link for sales.

Those examples were just a couple ones outside the top of my head. Yes it's true that I invested in LINK but I did it because I believe in the future business opportunity it will create for me. I am a entrepeneur that has had small business ventures before and I am seriously thinking about pioneering a new service by using the tools chainlink provide me. All the examples above were just very basic premises for a kind of business that would suddenly become viable upon using ChainLINK there are thousands of other possibilities. For example using the Data from the barcode scanner in different shops accross the nation to gauge interest and automatically pay management firms through chainlink and smartcontracts if a product sells too little to up marketing or if it sells a lot to automatically extend the contract with the factory and put new orders up.

Just another example of how ChainLINK can add new value and make new businesses possible.

It will probably keep mooning until the conference at 3 november and then have a retraction unless there is big news at the conference (there isn't) Decide yourself what to do with this information.

>genuine chance
tierion levels /thread

I agree. I think we will see at least a SMALL upward tend. And the 3k resistance that was scratched was not broken (again like about a week ago). It is pretty safe to assume that the floor is reached there. If the news are outstanding it will moon or rise at least some. If not, then it will keep hovering around that for a while. And if they finally take their heads out of their asses and communicate, well then it will be enormous.

One last FOMO attempt before whales kill this shitcoin off forever. Sad!

look at those fucking buy walls on binance. 18 cents will be the ATL forever.

Hold your bags. Typical LINKie.
>I has Knowledge on crypto
>No knowledge of business.
How much moneys have you lost?
>Can't lose money if I never sell
right?

Let me break it down for you:
Whales
One exchange
Shit exchange with proven price manipulation
Veeky Forums bag holders (down thousands) are the only ones still talking about this coin

I'm up thousands having never touched this coin.
Now I ask again how far down are you?

are you new here? most Veeky Forums people bought at ICO and are still /comfy/

you probably also made profit without holding any ETH sure. but how much gains would you have if you did hold ETH from the start? Thats link right now

PAJEETS ON SUICIDE WATCH BECAUSE OF NO ARGUMENTS

Its actually amazing that when it comes to substance, the FUDders are helpless.

All they can do is meme and laugh, but when you discuss the issues LINK wins with flying colors

that is pretty much the reason for FUD and arguing in a logical way I guess. Cull the mentally retarded from potential gains.

>whales
what do you think they are doing? dumping their millions in fiat for the lulz? kek

Nah, they just hand out free money to exchanges and other people, that is why they buy it for no reason.

tfw already all in on link so i can't buy more

world doesn't revolve around you and your beliefs faggot, kys

Chainlink 2 scenario's

1. Gets picked and intergrated corporate = moon
2. Doesn't get integrated corporate = vaporized$$$

Most likely it will get incorporated. Though I think 2019-2020 will be a more likely scenario for LINK to really pick up.

I cant wait to buy my white

L A M B O
A
M
B
O

more people on Veeky Forums need to read this.

chainlink has a LOT of potential

>the potential to go down to 1k sats
>the potential to bankrupt all of its deluded investors
>the potential to ruin your life

a LOT of potential!

this is the level of link fudders

We all know this, even most of the FUDders.

LAMBOS
A
M
B
O
S

This shit might actually convince me to throw another ETH at Link...

Biz convinced me to buy ETH at $20 and I never sold. Convinced me to buy OMG at 6.50.. Vert at 3.35..LTC at 40..

yea you bet your sweet sack im feeling this shit

I bought another 10K yesterday. Sitting comfy with 50K. Will add some more once this BTC fork crap is over.

Linkies who haven't done their research still thinking even with widespread adoption their shit token will be worth anything at all
You retards know that chainlink network isn't even necessary for smart contracts to be used?

If you want your smartcontracts to trustlessly talk to external data - aka 95% of the future of smartcontracts - then yes actually you do need ChainLink

Wow this is too easy. NOLINKs BTFO

>even with widespread adoption their shit token will be worth anything at all

you can say the same about literally every other coin, yet even vaporware scams still dwell the top 100.

>who haven't done their research
>You retards know that chainlink network isn't even necessary for smart contracts to be used?
Wew lad, sounds like you're the one who hasn't done his research.

nice pasta now stfu. its needed if you want decentralization

This is quite literally what they said about ETH. That banks will just adopt the blockchain but not the token. Yet after every big EEA meeting the token mooned to the heavens.

Was chainlink used for the demo at sibos? No.
Smartcontract can be used without chainlink. And even with "mass adoption" of chainlink the tokens are still not as valuable as you wish, little boy.
Node operators are paid 1/312th of the transaction fee, and sergeys 65% reserve of chainlink will be given out to companies for free (most likely sold privately under the table) so you'll be selling 1/312th of a token that costs nothing and just increases the circulating supply

Do people actually believe this?

If so, they deserve to stay poor. Seriously.

>Was chainlink used for the demo at sibos?
...Yes. The fuck are you smoking, FUDer?

>Smartcontract can be used without chainlink
Not if you want them to trustlessly talk to external data. Which is literally every useful real life use case for smartcontracts. See, Confido.

Rest of what you said is baseless speculation. Get fucking obliterated, deluded NOLINK

>Was chainlink used for the demo at sibos? No.
Is this bait? If so 1/10 for making me reply. Yes it was used for the demo

hur durr hurr le kek dur

> imgur.com/a/mkod3

>standard and POOR's
how appropriate
LINKies gon be POOR FOREVER

See

this idiot doesnt get it

nolinkers BTFO. you just don't understand it enough you brainlets

is it a smart investment to move my bch holdings into link linkies? kinda really doubt bch is more than a pump and dumb tool at this point.

Obviously us linkies are gonna say yes.

no, never buy low.

If you had bought LINK during the ICO would you sell it now for a measly 2x?

Get off Veeky Forums Amanda.

Serious? Got a SS of that? I'm currently bag holding LINK and REQ both.

Please join the marketing team at LINK.

Considering Sergey was previously a Co-Founder of an exchange what are the odds he is in the process of creating another exchange?

LINK literally has one developer who was a film student in Guangzhou City who wrote a thesis on the post-war Polish cinema of the 1980's. He was obsessed with the film A Short Film About Love (1988) and watched it dozens of times, feeling a kindred connection with the shy, obsessive, and out-of-sorts protagonist. Much of his life at the time reflected the protagonist's own experience as he fell in love with a woman living in the apartment building across from his own.

The developer would spy upon her through a pair of binoculars every evening as she would carouse with her partner. He found a way to open the lock on her door using a kitchen fork and would frequently enter her apartment to learn some aspects of her life, as in the Cantonese film Chungking Express. He found on her partner's computer that he was heavily invested in cryptocurrencies and through extension of this became interested himself. His evenings were consumed with learning how to code the coins, taking breaks only to gaze upon the beautiful woman from across the way.

Eventually he gained enough knowledge to begin his own cryptocurrency ChainLINK which became wildly popular. In this time the woman got married to her partner and the developer attempted suicide (as in the Polish film). After leaving the hospital he came upon the news that her partner had disappeared mysteriously. Apparently he had borrowed money which he couldn't pay back and now he was gone without a trace. The developer felt a new vigor for life and coding. He rebranded LINK and gave it the moniker 'the Oracle solution.' To this day he is developing the coin in the hopes of attracted the woman he's been spying on for years.

Chainlink was not used at the sibos demo
End of story

OHHHHHHHHH I get it now.

It's called Chainlink because it's the link that links the chain together. The blockchain. I GET IT NOW.

Sergey Nazarov... think about it! S.N. ... Satoshi Nakamoto! This is Bitcoin 2.0! $5000 in 8 years.

Also no one replies to my facts about link tokens being worthless
Typical

Enjoy those tiny ass transaction fees that just add to the circulating supply you fucking moronic cunts

This coin will not make you rich any time soon.
The product will not be rolled out for ages, they will likely be beaten to the punch by a bank or organization that knows what they are doing.
2 losers next to the bathroom that want to let their work do the talking aren't going to get very far.
News is what makes coins go up, there is no point in investing now if there will not be news coming out for ages.

Does anyone have a picture of rory?

>Chainlink wasn't used
>Posts evidence clearly showing that it was
>No it wasn't end of story I'm the boss here
You are the authority on nothing.

But please tell me what coins you are holding and why you chose them. No BTC or ETH.

feels bad man
I was hoping it would settle around 15 so I can scoop up more when my usd hits my bank acc

>so you'll be selling 1/312th of a token
what did he mean by this?

Here ya go

The FUDers of LINK are so retarded lol