About to invest in LINK after all these memes but I had one question for the link marines out there. What is the purpose of the LINK token? Can't this entire decentralized oracle system be implemented without a token system???
Can a superior user explain the purpose of LINK to this brainlet of a human? Thanks
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No purpose, useless token
There is no point to LINK token man. That is why Sergey never use it.
Check in Mobius. ICO just finished and has working product soon. Predicting $1T market cap Per the CEO
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.
>What is the purpose of the LINK token?
Incentivies the oracles
>(((Ari)))
Stopped reading right there kys kike
Data providers need to get paid, they get paid in link. You could just use ETH but then you wouldn't be able to use the system with other blockchains.
Four major uses for the token:
1) node payment
2) node staking (to help determine priority)
3) contract staking (for bidding and as a form of insurance against foul play)
4) speculation/investment/trading
Fucking brainlet do you even know who Ari Juels is?
To put it simply; the more LINK you have on your node the more network priority your node has and the more youll earn from staking.
fucke em
the
>le project is good but the token us useless
fud was understandable in october, now it's too late to spoonfeed those bastards
btcmanager.com
ABANDON LINK THE LINK SHIP IS SINKING!
Invest in link if you want to see every coin go 10x and your link go down 79%
Lmao. Pleas explain in your own words why you think that article is bad for Link.
You're probably right.
Stinky linky. Swift is making agreements with errybody but link.
Right.
And what is the crypto Swift made an agreement with in that article?
Ok thank you superior anons, I am humbled.
Dude don't buy LINK, it's a nigger scame coin. You're much better off with Mobius or Turtle coin
How would I dump my bags on your head else?
t. Jason Parser
Since you're not responding anymore, let me enlighten you:
That article says Swift signed a memorandum with a bunch of legacy financial players regarding broader use of blockchain tech.
This is in general very good news for Chainlink, since it is itself a blockchain tech Swift has its eye on.
Plus, at least one of the signatories of that memorandum (National Settlement Depository) is a very vocal proponent of smart contracts according to Swift's own press release on this event, from 16 January.
he is dead
look up the whitepaper
It's a scam you idiot. You're heading into your demise by buying LINK bags.
mfw bought link yesterday with ETH
wake up to -17%
kek, I hope I'll make it anyways
...
They are doing something revolutionary. The token isn't a big part of it, though.
Read this and prosper
The revolution lies in the decentralized network.
You can't sustain a decentralized network without an incentive.
The token is integral to the entire project.
Just jizzed in my pants
Thanks for the tip, Jmal
So is chainlink looking to do what mobius can do now? That seems like a neat idea.
You can do that with the token being cheap as fuck. Actually, that's the only way the whole thing can grow exponentially.
You know SmartContract's saving 350 million tokens to sell directly to big companies, right?
>You can do that with the token being cheap as fuck.
Of course.
And you can do it with the token being one billion USD a piece.
Your point?
>he doesnt know its copypasta
user just stop
>newfag outs himself by responding to copypasta and not know who ari juels is
You faggots kill this board by not lurking. I remember when newfags were too scared to post because they didnt get it. Now you retards spew your nigger bullshit everywhere
AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH
Wanchain is better and has a lot more to offer.
Im not reading your replieas bitchess muahaha