Fatal flaw on LINK

yeah seriously this is a HUGE flaw and I can't believe we didn't notice this before. I just hit market sell.

there not time for that friend

collapse very soon

Link is mineable? That info isn't even mentioned in their whitepaper. I'm going to head out first thing in the morning and buy a pick axe, shovel and bucket. How did you find out about this?

>Link is mineable? That info isn't even mentioned in their whitepaper.
Then how do you get link? If you can't mine it then you simply can't acquire link.
There would be lieterally 0 linkies in circulation.

That's it I am out! Thanks op you probably saved my children from a life of poverty.

14 replies and 0 answers. this is a SERIOUS problem.

really, how did Link get this far without anyone noticing the limited supply will doom the project?
fuck fuck fuckkkkkkk we were the only part of the internet that fell for it fuuuck are we the dummies?

Haha thanks OP! I was 1.4 MM into LINK and was about to sell everything my family had but your humble post made me sell everything!

>Only 21 million bitcoins can be mined
>When they are all mined nobody mines anymore
>transactions can't be processed
>Bitcoin worth $0
That just means LINK is deflationary too you retard, all the more reason to go up in value.

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.

holy shit why didnt we think of this? Jihan Wu & and his army of miners are going to fuck this whole thing up. LINK is BTFO

Copy paste of a previous FUD post.
Kys faggot

Fuck fuck fuck, I just bought a bunch of link miners, and I think it's too late to cancel the order.

Even if one day that shit happens, LINK tanks from $500 to $250 or whatever. Now it's 80 cents and isn't even being adopted. You are getting ahead of yourselves aren't you.

You faggots are so good at confusing stupid cunts, this is not a concern at all too any newfags who read this and are panicking

Total sup says 1T:

>Total Supply
>1,000,000,000

1,000,000,000 is 1B not 1T

omg. there's 1 trillion LINK.
we've found a new avenue for FUD.

If there are no more linkies mined it means that no one will produce linkies, which means that the linkies will start to get used till we reach a point of 0 linkies in circulation because they get burned each time a transaction processes.
In the end the whole network goes down because there's not enough linkies.

My mistake, reading the OP and is late.

Even still, 1B total, not the 350k OP is stating.

thanks OP just marketsold all my link

The same point applies. All linkies will get burned in transactions. My estimate is that the CL network will last only 1 year, after that it's just a total colapse.

Holy fuck this board is literally filled with retards
Not even funny anymore

Why do they get burned in transaction? Aren't they just transferred to another party?

Guys I have read the whitepaper and your understand of LINK's token economics is completely wrong or you're just trolling.

Nodes require staked LINK, which is only burned upon failed requests according to the smart contract mentioned in the whitepaper. That burned LINK is taken from everyone's nodes, including people providing valid information. Eventually all of the LINK will be burned, but also the smart contract will tell you what each token will be worth. The way the algorithm is written means that the maximum value of a LINK can only ever approximate .9999 dollars.

Bet these are all OP's comments because he's a massive faggot

Each time a node feeds data from the external API to the smart contract, a chain link is burned as a way to pay for the data sent, you must pay in linkies to receive the data and is burned so the price increases.
But after time, it will all get burnt, how can this be?

Shadowlink didn't work

Yeah. It's definitely a problem when every god damn LINK thread is nothing but complete memes. You guys are seriously mentally ill.

To answer your question OP- there will always be people who want to sell. And LINK is divisible to the 18th decimal. That means LINK has to reach a price of $100,000,000,000,000,000 per LINK for the system to go to a halt. Good luck ever reaching that number without anyone selling. And if it does, then congrats, your family tree will never be poor again.

range ban, when????

Nodes could redistribute LINKies to the stakers instead of burning them. Problem solved.

Fucking retards.

>What happens when they're all mined and nobody runs an oracle node any more?
Who fucking cares? By then we're all stinky rich already.

it is btc all over again

Whenever I look at my folio and start contemplating selling off some of my LINK for short-term moons, I come here and find one of these threads. And I'm reminded why I shouldn't sell.

Thanks, OP.

Exactly why it's going to be $1000. Because there will be less that a million in actual circulation.

Muh .000000000000000018 decimals

""""""""""crash""""""""""

Nice shoop pajeet