Link will never go above $20

Wow its like there are other coins that grant better returns over the long term and sooner. WOW, imagine that?

Anything below $1000 is FUD.

>In the best case scenario there are 10,000 nodes
There are already over 500 nodes running the ruby testnet for fun and 19,000 people already expressed their wish to set up a node.
I'm setting one up too, it's piss easy and will bring you a shitload of money. If anyone is holding LINK and doesn't plan ojn setting up a node, he's plain stupid.

>short and sweet
I agree

>there 10,000 nodes

What is life like in India? Also, is this how the fud will progress as it becomes more apparent that ChainLink is going to fulfill its use case?
>it will ONLY hit $20
>it will ONLY hit $50
>it will ONLY hit $75

Not even worth it. Sell now and buy Mobius sir

...

Friendly reminder: If node staking is a success, circulating supply will be much much smaller than currently

>implying I'd be made with 18$ per LINK
The state of LINK FUDders

>in the best case scenario there 10,000 nodes
Yup 10,000 nodes in the whole world for all smart contract oracles. Makes sense. Fuck this, market selling this shitcoin.

Are we going to ignore that 350m is reserved for institutions on top of dev reserves? 90% of people who post and reply to ChainLink threads have not read the whitepaper or listened to Sergey talk at conferences.

vocaroo.com/i/s1V2iYEgkR0n

Anyone have some ETH FUD from back in the day?

>MARIJUANA
>eyes aren't red
I don't get it.

>even btc only has 6k nodes
Because you don't need to run a full node.

>That's only 100,000,000 of 1 billion link taken out of circulation.
And what about contract staking?
And what about Link used in the markets instead of in the network? The number of Link used in the markets is currently 350,000,000.

> Look up the token velocity problem.
Lol no.

And you didn't do a basic calculation for the number of computations required per day.
Remember: banks collectively make many billions of API calls every day.

>The price will go up but anyone thinking it could go over $20 is retarded.
Only one retard here, buddy.
Protip: this entire scenario revolves around the PURELY UTILITARIAN VALUE (whereby you're still missing the mark btw).
You are completely forgetting about the speculative value.

>Remember: banks collectively make many billions of API calls every day.
And virtually all of them could have smart contract applications.
AND the very emergence of smart contracts could make the number of API calls made per day grow far larger.

wait.. are there seriously people here who unironically bought this meme???

Lol no.

...

According to the EU PSD2 regulation rolling out this year, banks are obligated to have run all their transfers through API calls.
Where is you god now?
evry.com/en/news/articles/psd2-the-directive-that-will-change-banking-as-we-know-it/

All of this constant speculative, half-baked understanding of what the project does. Just shut the fuck up already. If you don't like the project, don't buy any LINK, filter LINK posts, and just go home and do whatever it is that you do.

Just shut the fuck up already. Jesus christ.

You're just buttmad that I'm making you explain the implications of token velocity, even though you either don't understand it yourself or you know it has no bearing whatsoever on Chainlink.

Lol no.

>Guy responds to your post with a paragraph and explains in detail why you're wrong
>All you can muster up in response is 'Lol no'

this whole thread is literally just pasta from an earlier thread.

any developers here?

Are you guys playing around with the smartcontract/Link kit?

anything fun you guys doing with smart contracts or LINK?

Pajeet BTFO

Hahaha this is a cooypasta of some guys random comment lol.

So for the people who got in at presale/ ico/ 15 cents, with stacks from 60k to 600k, you think we’ll stake 10k only?

Lmao tried to fud using a specific scenario where node limit was 10k kek. Too dumb to even fud properly lol

How do I stake link?

I've been saying that the reason Link can go to surprisingly high prices is to serve as collateral against uncertainties with the data sources. If a contract is solved falsely due to false data, Link itself could act as collateral to cover damages. therefore, it's in the tech's best interest that this goes to surprisingly high prices.

So 1/10th of all Link will be out of circulation, there's also the fact that it's highly unlikely that financial institutions will be going to Binance to purchase their Link tokens if this is adopted. I'm expecting a Chainlink run gateway to both purchase Eth and Link. This gateway will need to hold a good percentage of all Link tokens in order to cover costs. Over time, I imagine that more and more tokens will be relegated to this gateway, hence the lack of ambition in securing further exchanges for Chainlink.

I imagine this gateway will be a one way street as well, not an exchange. You can only buy Link there and not sell it. Thereby furthering the incentives to use the tech.

Upon spending the Link, nodes will receive some, and Sergey will receive the rest, going back to their private gateway. I think it's in Chainlink's best interest, and financial institution's best interest to centralize the supply chain of Link.

I believe it will take some time, but if Chainlink tech is adopted, scarcity will necessarily rise due to the increasing scarcity of Link tokens available to the public due to this centralized supply, As well as the incentive for node operators to either hold or stake their tokens, thus keeping tokens out of the hands of Chainlink's gateway, and raising the price so the gateway does not get cleaned out. If one institution could go in and buy 25% of the tokens with a mere 100 million dollars, that would put the Link system at risk of shortage.

So for those reasons I believe in the $20 per token amount. It's really going to be an interesting microcosm of the free market.

I don't think you can yet until mainnet hits
medium.com/linkpool/linkpool-economics-ac8642a75801 might be the easiest way to do it when it happens though

If the price of LINK tokens becomes so high, wouldn't that become a barrier to entry for new players wanting to join the LINK ecosystem.

It's like with Uber and taxi medallions. If I have to invest some exorbetant amount to be part of an existing network, I'd rather start my own network with a lower cost of entry.

Link goes to 18 decimal places.
It could be a billion USD per token and you could still pay someone 1 cent worth of Link.

>It could be a billion USD per token and you could still pay someone 1 cent worth of Link.

The man who replied to your post about decimal places is correct, though he didn't answer your question. Your are talking about people who want to create nodes.

If Link costs $10 a token, and you stake 10k Link, that's a 100k node. fiat value. You won't be up there with early adopters, but in fiat value, you'll always have a chance to play. I also don't expect all nodes to be Neets at home, I expect a good portion of them to be institutional investors who by way of the intel sgx tech, can be considered as decentralized as your rando at home. That's the beauty of the tech. I don't believe that the chainlink team envisions thouands of home neet nodes.

When it comes down to it, all the players in the game may have their own nodes which will almost completely shut off the Link ecosystem for your normie node creator. This too would cause slow but sustained growth of the Link token. For us to truly take part in Link economics, we have to get token, and we have to stake early to avoid being shut out of what could be THE financial tech of our days.

When you're talking decentralization amongst centralized institutions, you're talking about a pendulum that in some crazy way, will rely on a bunch of autists to ensure it's decentralization.

This, I think people are thinking of nodes in the wrong way. There may very well be a market for cheap throway nodes for unimportant dapps but chainlinks real value and intended use is probably for high value transactions. The decentralized network is probably way overkill for most smart contracts and they could get away with using a single centralized oracle.

the only thing that makes me question this though is the lack of activity in the gitter and seeming lack of developers from big companies acting questions. I would have expected to see evidence of all the corporate node providers setting up nodes via asking questions in the gitter chat but so far I don't really see that many developers that fit that criteria among the developers in the chat.

Is the slack different? Are there people we suspect represent the IT departments at important institutional players or are they even trying to hide evidence of that if its happening at all?

We should start a biz pool

LINK will be lucky to hit 4 dollers shoo away pajeet scammers

Baka

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.

>Is the slack different? Are there people we suspect represent the IT departments at important institutional players or are they even trying to hide evidence of that if its happening at all?

I haven't followed the slack very closely since the crash. When I do check in, there is definitely an increase of technical talk in relation to node setups and blockchain and off-blockchain based calls. I'd recommend checking it out for yourself to see.

I think one bank to another's api call based smart contract doesn't need the decentralization at all. It's be awesome of Link, could serve this market (meaning, create the financial incentive for banks to use it over centralized oracles), but I have my doubts. I think they'd be spreading themselves thin, and diluting the product.

As far as the lack of activity goes, I hear you. But as I said before, Chainlink is in a weird space, where, for it to be successful, it needs to be as centralized as possible. In no way is the team trying to attract speculators when it's shooting for instittutional adoption.

This might sound like a conspiracy, but when you see how Chainlink has to work, then the gateway makes sense, institutional nodes, the lack of exchanges and communication makes sense.

How do I set up a node? I have exactly 10k link

this is my favorite vocaroo

Does LINK even have a working product? Or is this another pajeet coin?

Is Mobius the new Bazingacoin? These have got to be bots

link was never meant to go over 1 dollar

Sergey?

>LINK will never go above 5 dollars
>LINK will never go above 10 dollars
>LINK will never go above 20 dollars
>LINK will never go above 50 dollars
>LINK will never go above 100 dollars
Stinky Linkies will rule the world