The LINK token is a scam. Let me tell you why

>unless there is a massive volume of smart contracts utilising the node
>unless

You still don’t get it, we are accumulating LINK because RELATIVES Tao most projects it is undervalued considering it’s functionality. Please point out a single coin with a market cap between 1 and 5BN right now that has a real use case that yields real profit to the holders. Please explain why IOTA is worth 12BN, except for the word “internet of things”, besides it would take literally a single line of code to introduce token burn or anything else that would balance out the cost issue with LINKs tokens. The real question is how valuable should the market cap of something that could do everything LINK plans to do if it achieves those things and SWIFT partnership turns out to be true.

Basically you criticise the current value of an asset when this entire market is speculative, and speculatively I deem LINK to have more value than TRON.

Your too late user.
Godspeed.

>The api providers have nothing to do with LINK.

true, chainlink is middleware that connects APIs and blockchain, so what the fuck is even your point?

3/5

Right, but you (as in the contract) don't interact with the API-Provider, but with the CL-Node which is the whole idea behind it.

Answer for you

then you are absolutely retarded for speculating on something that doesn't actually have a chance of mooning before march, by which time this buble will have popped.

you're clearly retarded and salty,
>hurr durr why you buy now when it's gonna be ready next year
That's the whole fucking point of investing. Tell me why is ethereum worth 70bn? when its only use case so far so far is creating shitcoins. Why is tron or ada and all that other multi billion$ crap worth its price when it's not used by anybody
>hurr durr but muh partnerships
yea right, pay a company to be able to pretend like they're your customers and call it a partnership on tiwtter so retards can fomo

Thomas or Rory siad that the more important the data is the more nodes will it require (as many as possible)
also you seem to forget that the value of the token will be driven not only by the amount of ndes but also by the APIs prices. If data is expensive the nodes will get paid more, same when they use intel SGX, also you probably don't know that the contracts will require node operators to pay penalties in Link in advance.
And now tell me why is ripple worth 40bn? when its token is just supposed to be flipped around from hands to hands without any holding invcentives?

It's hilarious how much double standards there is when it comes to Chainlink. All those useless multi bn $ MCs are justified but when it comes to Link, Oh now! cannot be.

Stay poor, that's all I have to say
You will never be able to understand the token economy

the ethereum platform is valuable. The ethereum token has no reason to be expensive you're right.

The API data will be free. The EU is making them open all the apis. There will be no more private apis. The point of paying isn't to pay for paid APIs it's to pay for the tamper proof security provided by the decentralized network and Intel SGX

learn about it before you start shilling you dumb cuck

> I thought chainlink could easily have a million nodes

Then you clearly have a really good understanding of this project, you fucking retard.

Stay poor

>meaning unless there is a massive volume of smart contracts utilizing the network

You are thinking about it wrong. It is not the volume of, but the value of the contracts.

You realize most contracts don't need the level of security chainlink provides right? They also estimate smart contract writers will be willing to pay up to .0001% of the contract value to get that security so even if it's trillions node operators will only be netting a few cents a piece once it's split up over the hundred of nodes they write the contract for.

I hope you actually believe this shit and don't buy. Honestly.

im going to enjoy your wojacks faggot

>the ethereum platform is valuable.
so far it's not, according to your boomer investing lgic

>The API data will be free. The EU is making them open all the apis. There will be no more private apis.
yes because the only data in the world that is in demand is the data from banks, right,

>The point of paying isn't to pay for paid APIs it's to pay for the tamper proof security provided by the decentralized network and Intel SGX
well no shit sherlock, guess what's gonna happen when someone needs a more expensive than free data, yes you're right, the node operator has to pay for the access to that data and then that amount will be Priced In (favorite biz word) in the payment for the node operators in Link tokens. (unless you believe the node operators will be happy losing money)

leran the basics you fucking idiot

AHAHAHHAAH breaths in, AHAHAHAHH
ok you don't know shit, I jus wasted my time, enjoy staying poor like I said, start investing in ropes

Bump for more heated discourse. This is good stuff

You obviously seem to lack the understanding of the whole idea behind Chainlink.
I urge you to either write it off as a scam and forget about it or - if you're interested - read the whitepaper and try to understand it.

name one paid API that would be relevant to a smart contract.

I bet I'll be waiting until Chainlink goes past 60c again, which means forever. Enjoy your bags faggot.

It's not though. The fudder is fucking retarded.

He's making the same lame arguments people in my group chat make. You're giving me good concise ammo.

Don't get worked up about it, just keep shutting him down

An ISP which guarentees a 99.999% uptime on his servers.
An Airline which provides an API for flight insurances.

It doesn't even matter if these API-Calls cost the Node-Operator money or not. The SmartContract pays a fee (set up be the node provider) collecting this information from the node in a standardized and trustless form.

You need AN oracle... I can understand if you don't like LINK. But the fact that you seem to be making the argument that an oracle (fullstop) is useless, makes me think you might be tarded

Yeah sure. Let me sell into a crashing btc.

lmao you mad that I have 120k LINK I picked up at 1500-1800 sats?

Sergey is the only legit thing in crypto atm. LINK is the only thing I fell comfortable going to bed with at night.

None of us LINKIES are selling. That's why you're seeing such high pumps. You no linkers are so DESPERATE for LINK, but what's that? It's only 100 LINK separating 3800-3900 sats? Better get back to wage cucking boyo.

This.

It's another normie OP doesn't understand the difference between tokens of utility and currency episode.

I'm literally all in on BAT. I understand utility tokens better than anybody I've ever seen on Veeky Forums.

So why do you bother making LINK fud threads? Why not make a BAT shill thread?

You literally hate money you handicap.

I hate people getting justed by scams. I actually believe in crypto and think that Sergey is doing it a huge disservice by shilling his vaporware just so the VCs could recoup their losses in his company. It's so fucking obvious to anyone who isn't a bagholder.

>all in on BAT

That's actually too depressing to laugh at since I believe it's not a larp

Your FUD is that the level of security chainlink is offering is too high for anyone except multi-million/multi-billion $ derivatives contracts between banks?

>I'm literally all in on BAT

oh my lord

>You realize most contracts don't need the level of security chainlink provides right?

the price of that level of security you brainlet.

And that the people who write multimillion/billion dollar smartcontracts are not going to get to the point where they trust a russian and his gay friends garage node building company for literally a decade. SWIFT repeatedly says, blockchain isn't there, blochain isn't there yet, maybe in a few decades, but you faggots keep observer biasing it and only hear what you want to hear. Please get out it's not too late.

Damn, dude, you're gonna need more eggs for all that salt.

>the price of that level of security you brainlet
which costs more?: a trustless API and it's fees
or
employees, taxes/insurance for them, their salaries and benefits, etc

The reason why there is so little BTC nodes is because nobody wants to download 300 GB blockchain and wait weeks for it to be synced. Link nodes don't require that and there will be link mining pools that will probably be easy as fuck to setup.

You are clueless.
Chainlink is a free market of nodes competing against each other. You can't compare this with Bitcoin which is non-competitive in many ways, and where running a full node is simply a hassle compared to lightweight nodes like Electrum.
As long as there is money to be made, there will be nodes joining the Chainlink network.
In 2018, banks will be forced to open up their internal APIs to third parties, meaning even you and I can run nodes with extremely useful information.
It seems like you have no idea what would happen when Chainlink nodes prove to enable mainstream smart contracts.

Let's do some math:
Banks make BILLIONS of API calls every single day. Imagine if only a million API calls go through Chainlink for smart contracts (which is ludicrously low considering the revolution smart contracts represent).
Suppose one node processes three API calls per day, meaning in theory 333k nodes could do everything.
But then you have the security aspect provided by decentralized nodes, so let's imagine every API call involves three nodes for redundancy.
That means 1 million nodes would theoretically be a minimally profitable number.
Again, this is assuming only 1 million of the billions of daily API calls go through Chainlink.
And that's without counting all non-banking transactions, like loan smart contracts you draw up with your neighbor (Chainlink is basically a peer-to-peer contract system).

And Link isn't just for node staking, it's for contract staking as well.
Any node could stake Link tokens on any number of different prospective contracts. Let's assume they stake 5k Link per contract, and let's assume a node stakes on 5 prospective contracts daily; that's 25k Link per node out of circulation.

So, let's continue to assume 1 million nodes, 10k Link staked on each node itself, and 25k Link staked on various contracts.
That's 35 billion Link.
But there are only 1 billion Link, so we'd be talking fractions of Link being used.

>inb4 "hurdurr there will never be 1 million nodes"
How many APIs are there? In a way, a Link node is basically an API adapter.

>I'm only shitting on this project because I care about you and crypto currencies so much.

>also, I only invest in a literal shitcoin

Also, this calculation is based on a theoretical minimum, implying 100% efficiency.
It does not take into account the constant addition (and deletion) of nodes set up by people who don't really know what they're doing.

And let's not forget the very simple fact that people like to buy things that go up in value.
Speculators will try to hoard as many as possible as well.

My link bros, I'm sorry to say OP died by choking on his own fud so you're wasting your time replying to no one.

>Suppose one node processes three API calls per day, meaning in theory 333k nodes could do everything.

you have to be kidding. Go look at their test nodes on the smartcontract website they make calls every minute. Are you literally retarded? One node can make API calls to every single API in existance, meaning you'd only need like 100 nodes for adequate decentralization for any imaginable smartcontract and beyond that the node payout will get so small nobody will bother setting one up.

>And Link isn't just for node staking, it's for contract staking as well.
this isn't in the white paper. Goddman linkies are delusional and just adding features to chainlink in their head at random now to feel better about their bags.

LINKIES BTFO

>Go look at their test nodes on the smartcontract website they make calls every minute.
Oh man, if Chainlink becomes mainstream to the point that API calls are processed through any given Chainlink node EVERY MINUTE, we are talking global domination.

>you'd only need like 100 nodes for adequate decentralization
You only need one massive car manufacturer.
We are talking about a free market of nodes; nodes will constantly join as long as there's money to be made.

>this isn't in the white paper
Oh yes it is, lel.
Ouch, bro.
Time to actually do some research.

holy fuck the node operators aren't paid for every api call. They're paid a flat fee for the contract.

But the whole point is decentralisation of the Node system, if you have a node making thousands of API calls per minute, then you're going to want more LINK to stake because it increases your reputation likewise people will be paying for subscription to your node using LINK.

Your forgetting the significance that subscription costs will have with LINK, that means that there is a continuous stream of LINK going into nodes that will presumably sell their LINK for USD. Therefore the value of LINK as a sum total will be the value of any API data network * the size of the network * the innate preference for decentralisation that makes blockchain such a hot topic. Consider that a tea company calling itself blockchain increased its value. Decentralisation is going to be like a seal of quality as long as this bubble keeps going.

Call it a bubble or not, if you think blockchain is dying go put a 2x short on BTC right now, you'll only get liquidated if BTC goes over 20k again, which surely it wont?? :^)

What the fuck are you even talking about?

Look here faggot this is the size of the entire money market: money.visualcapitalist.com/worlds-money-markets-one-visualization-2017/

All LINK needs to do is tap into the derivatives (futures) market and everyone will need a fucking LINK for their smart contract.

>he didnt accumulate

Ohhhh poor guy, you wasted your time FUDing and now you are seeing that you were wrong and want to get in cheap?

Dont worry man 50 cents is still a bargain. Just go for it. Stop trying to FUD more and accept that we are not selling

Better close your thread if you can, OP.
You just proved you didn't even read the white paper, and are completely unaware of the basic mechanics behind Chainlink.

Embarrassing.

>He still hasnt understood that the bubble pop is only the beginning

AAHAHAHAHAH HOW RETARDED ARE YOU. The bubble popping is a blessing because its gonna eliminate all these cancerous cryptocurrencies. Everything with an actual use will remain here, just like google and amazon still are here after the internet bubble

JUST ACCEPT THAT WE ARE NOT FUCKING SELLING AND BUY IT WHILE ITS 50 CENTS. YOURE GONNA WISH YOU DID SO IN A COUPLE OF MONTHS

I sold at 55 cents you doof lol. Bought at 17. Enjoy holding my shit bags.

Thanks just bought 100k

I bought at ICO and havent sold since then and wont be selling anywhere below $10/link. But nice moves there on the strawman you really kicked his ass

RIP your money.

Yea what happens when Bitcoin goes to zero and there's still no USD trading pair? LINK will also go down to zero.

what is ETH retard?

how much you wanna bet i can throw a football over them mountains?

bump

Kek all these deluded stinky linkys who will be BTFO by December 2018 and probably kill themselves

...

... says the guy who had no clue Link had contract staking, lmao.
"It's not in the white paper" he said, lololol.

Try actually reading the white paper before opening your mouth, big boi.

Bumping this thread so more people can laugh at this brainlet pajeet OP

*breaths in*

AHAHAHAHAHAHAHAHAHAHAHAH

Not only could this pajeet not understand the white paper but he went all in on a shitcoin.

Fucking kek.

OP I know this board is anonymous so it makes this whole thing a little less embarrassing but you should still consider deleting the thread. you just got bent over and dry ass raped. pick whatever pride you have left up off the floor, delete the thread, and head on home to your heavy, heavy BAT bags