Are smart contracts a fad?

If you're not larping, sure, here's a tldr:

Link isn't aimed at consumers. It's an oracle, which is just tech jargon for saying that it allows smart contracts to interact with data that exists off the blockchain, something they cannot do. Basically, if people want the hundreds of decentralized applications built on Ethereum to integrate with existing industry, they'll need ChainLink to bridge on-chain and off-chain functions for data transfer

>they'll need ChainLink to bridge on-chain and off-chain functions for data transfer
That's a good idea, why isn't this huge?

>they'll need ChainLink

>I'm going to use you all to make money
do you honestly think Veeky Forums makes money?

I have a PhD in crypto economics and mathematics. Crypto incentives in Chainlink are a legitimate concern. I saw Ari Juels speak at a conference recently where he mentioned tokens and asked him about the token economics of a node staking system like the Chainlink network is planning to use. The problem is that node operator incentives are fuzzy at best and not even figured out fully by the team (see the gitter for Steve stuttering about this). When I brought it up to Ari Juels, I told him that in the way the network is expected to be used, the fees payable to node operators would actually decline as requests become more ubiquitous because as the network grows it becomes cheaper to use. This makes sense if you took a few advanced cryptoeconomics courses. Ari admitted that it was a great question but that they were "actively pursuing research in that area." I sold my LINK immediately after that and saw a significant dump on the binance charts. It's pretty clear these guys are pulling you along making you think they're doing something revolutionary when the incentives aren't even fully determined yet.

I understand this much, but I still don't understand the implications this has for LINK as a coin/token. What does it mean to own 1 LINK?

Lol I saw this text before. Is it a meme copypasta? Any truth behind it?

It's worth noting that offering an oracle service/off chain data stream is in itself not novel.

What separates and makes ChainLink unique is the application of decentralization/distribution of Oracle nodes to a.) Provide consensus based validation that your data going into your smartcontracts is accurate and b.) Provide an opportunity for multi-feed smartcontracts to access as much data as they need with as much distribution/decentralization they desire.

Frankly I think CL is tight as fuck and could open new opportunities and markets in the increasingly data driven economies of the developed world

idiot this fud is too complex for your targeted audience

>Veeky Forums
>Truth

> Is ChainLINK and Veeky Forums the same as Trump and /pol/?

Unironically, yes and I will tell you why.

The concept of memetics was originally introduced by Richard Dawkins in his book 'the selfish gene." Essentially, he posited that ideas and concepts are subject to the same mechanics as genetics in the way they "reproduce" and spread throughout culture. Memes are essentially just ideas and ideas have to go through a natural selection process that determines whether its ideas are fit for survival and propagation.

Consider Veeky Forums as an environment in which ideas are naturally selected. Veeky Forums's platform is a uniquely harsh environment where only the most fertile ideas are able to survive - posts only last 2hours tops, there's no upvote/downvote system or identity that can be tied to an idea's introduction. Also, it's important to consider that just like in genetics, the things that survive are not necessarily the best "logically" but for whatever interdeterminable reason they are the ones that experience reproductive success.

Take pepe for example - I mean what is it about pepe that we can't fucking drop? Consider the amount of reproductive memetic strength for pepe to get posted every day so so often. Any meme-like post on Veeky Forums could be the next pepe but because posts disappear so fast the majority of them die. For whatever reason, the attributes of pepe make it especially powerful in terms of reproduction by way of the intagible qualities that allow him to completely enchant those who are exposed.

Now think about chainlink and how it seems to display those same qualities! Possibly even in a harsher environment (Veeky Forums competitive vs /pol/ already groupthink). It's worth investing in chainlink for this memetic quality ALONE.

Couple that with the strong fundamentals and it's a certainty that chainlink will be successful.

lol

Does chainlink have any real growth potential, or is it just memes?

It's a trade able unit if value between smart contract creatures and distributed oracle service providers.

They don't use ETH /BTC/Fiat because those are tied to more complex systems which change value. Much like you don't trade USD directly for your seat on an airplane/train, you use a ticket analogous to a ChainLink token. At least that analogy has worked best for me so far

Linkies will be used at nodes to validate trades or sum shit like dat

If anything is going to bridge from block chain to the real world, it is smart contracts. It is literally the ONLY useful "tech" to be adopted from this shit show.

Yeah ill make you rich after I convince you to buy my bags at 200 a piece.

LINK is used to run the nodes. That's it. If everything they plan is implemented, all the money will run through the blockchains in the future, because they are faster and more reliable than wire transfers.
By owning LINK you own a chunk of the Wall Street trading and global banking.

Do you see why linkies will drive lambos?

LINK is a good hodl dont fall for shadowfork FUD, its worth buying now and researching later as stupid as it sounds

Someone explain to me how Facebook or Uber can get replaced by smart contracts on a blockchain and why we would want that anyways.

how about you do your own research nigger

fucking redditfags and their spoonfeeding

How about you find out yourself? Or stay poor forever you dumb faggot nigger and stop asking people to do research for you. Or is your tiny baby brain too poor to understand big scary words?

Go buy tron and stick to reddit faggot

Someone explain to me how this user became the biggest faggot in the universe?

This

Leddit BTFO

>thinking ChainLink is for normies

It's not. Not even close. ChainLink is meant for contracts, escrow, law, and just about anything else that can be linked through API. If it is successful in its implementation of just these markets you're looking at $1,000/token minimum.

Now consider the derivatives market. If the derivatives markets ($1.4 Quadrillion/year) start using ChainLink you will probably see $20,000/token minimum.

This makes me so hard

i'm gonna buy myself a new condo every week off dividends when that derivatives money comes through

>$1,000/token minimum.
>$20,000/token minimum.

it's over sell all your links

Again, those are all ifs. If the project works as intended, and if it's adopted by those industries, then this thing is more valuable than any coin out there.

You're right, it will probably be more. The ability to use off chain APIs to connect to block chain networks will bypass the need for expensive corporate lawyers and lengthy transactions will make this worth way more than what I estimate.

idk if your memeing or just fuckign with people, but Veeky Forums has been the forfront on jsut about every thing since this website started. DO you wanna be the one who felt like an idoit because you didn't take the chance? i was there when the bitcoin post started and feel like a fucking moron now

LINK will become the first coin to reach BTC parity.

Not yet. ;)

>LINK will become the first coin to reach BTC parity.

I don't agree. I think ETH will flip it and surge to BTC levels well before LINK will. Again though, if LINK does what it claims it can do LINK will become the most valued coin made.

>The ability to use off chain APIs to connect to block chain networks will bypass the need for expensive corporate lawyers and lengthy transactions will make this worth way more than what I estimate.

How the fucking shit does a digital token replace a lawyer, what the fuck are you on about

Too many brainlets and normies on Veeky Forums now.

Listen dude, you're right. Just don't invest it's a Pajeet coin and obviously a scam. The only reason it has passed REQ in market cap and price is because of all the hype the team does. Smart money is obviously not getting in on this it's all Pajeets and NEETs.

It could easily replace a lawyer for lots of legal transactions. Never all, but if you've ever bought a house you've seen lawyers at their most useless. A smart contract could easily be written to deal with escrow, and execute sale contracts if the appropriate APIs existed for things to be checked and filed.

It'll be a while before we see a system like the fully operational in the wild, but there's a number of big firms working with the EEA on legal applications of blockchain tech, and Docusign is used a lot in the legal service industry and seems interested in tapping into smart contracts soon, so the day is coming faster than many think.

isn't sergey doing a presentation with docusign at sxsw in march?

Stop spoonfeeding normies. Thanks.

He's doing one with the founder of Docusign who now works at a VC firm or something I believe. The CEO of Docusign is speaking at SXSW separately from that as well though, so I suspect we'll see a partnership of some kind between the two sooner than later. Docusign knows a dApp could emerge that becomes a competitor and is going to want to tap into smart contracts from their current systems to stay current so LINK is the obvious candidate for that.

this is new to me, thanks for the tip

>stop informing fellow anons looking to expand their knowledge of one of the space's legitimate projects

who hurt you? why can't you just let people be

we dont want a board culture of retards wanting to be spoonfed. just fuck off retard

no, he was right. that faggot capped him and created a new thread to continue shitting on him. it's all downhill from here too. more and more people grow resentful and stop sharing information.

> PhD (3-4 years minimum) in cryptoeconomics, a term coined in the last two years at best
Larp, but still

ur a reddit kid,
can't fool me

>more people buying the same coin as you immediately after you is bad
genuinely cant fathom this logic

>betting against lawyers.
Good God in Heaven I hope this works out. what a worthless bunch of parasites

vocaroo.com/i/s1lVXNBX4zkH

are their other websites that make creating a smart contract so user friendly? not to mention the killer domain name

basically CHAINLINK is a conduit system whereby the entry points to the distributed network for the API replication system draw in Ether in the form of ICO deposit. These ETH deposits then flow through the system until they are converted into Big Mac®s by the McDonald's atomic swap chain interconnect. The Big Mac®s then determine the shortest path through the directed CHAINLINK network graph until they reach the sink in Sir Gay's Pac Man mouth

When you put it this way, it makes perfect sense.

>cryptocurrency based around burgers
nice just bought 100k

I've done my own research, lurked on /biz for months, and own 8k LINK. I want to believe you, I really do, but $20,000 LINK seems fantastical.

How long would it take to reach $20,000, 10 years? Do you have much experience predicting these things? Or experience in tech?

I appreciate the good feels tho

Chainlink sounds great but the question is can the team actually deliver? IIRC there are only two active team members.

they hire more to do specific tasks when needed

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