Holy fuck this is HUGE

If someone stakes LINK, how much monthly income are we looking at?

Its literally nothing
A pool for smartcontract token goes from a private wallet to using a smartcontract... like why wasn't that the original plan? What a joke. Almost as bad as the chainlink ico not using a smart contract and having to manually refund every single person who went over the 2m crowdsale cap

You are being naive, this actually solves everyones worries about collective staking, because you don't have to trust them with your links anymore.

I was actually thinking of just selling my links and not staking them because of this problem, but this makes me more at ease.

At the start 0.1-1% monthly, 5% is their long-term target

Sirs we Go to mars Bitch Lasagna

0.1-1% of what?

It tells you at the end of the article why they didn't want to do it at first.

Roi

So this basically means my tokens will be safe on a linkpool node? Thank god, I was worried about that

KHEQKED

No one knows, Linkpool devs said 0.1-1% returns on tokens a month initially, upwards of 5% in the future with adoption (years from now)

of $10

>No one knows, Linkpool devs said 0.1-1% returns on tokens a month initially, upwards of 5% in the future with adoption (years from now)
I see, thank you.

so could anyone paint me a picture of how staking would occur under this new approach?

5% of what though, token price?

All of your tokens

>paint me a picture
youtube.com/watch?v=lLWEXRAnQd0

nice
I guess there's no reason to fear staking your LINK there now. Looks like we're gonna be fighting for spots on the first nodes, boys.

Number of token staked, returns on a monthlt basis:
medium.com/linkpool/linkpool-economics-ac8642a75801

its beautiful....thank you user

Why would someone stake vs selling LINK tokens? It's like choosing the monthly return vs the lumpsum of a lottery

GUYS IVE MADE MY OWN NODE
SEND ME ALL YOUR LINK AND I WILL CHARGE YOU LESS THAN LINKPOOL!

I'm actually going to run a node but also going to stake with LinkPool because my personal node rep, uptime and data access will be shit tier compared to theirs.

50k linklet here since October. Wish the /nubiz/ memes would calm down a bit though (all caps fags and fiverr vids)

all of you will get btfo'd once linkpool's node gets attacked and fed with bad data resulting in losing your tokens as a penalty payment
>mfw

czeched

fucking checked

It's actually the opposite, if I remember correctly. It will be 5% in the beginning, but as adoption increases and more contracts get executed using link, they speculate about 0,1-1% will already be an interesting rate of return.

We will see.

>linkies defend this

NICE STICK MEN FAGGOTS AHAHA

good thing penalty tokens get moved to an escrow smart contract for 30 days during the investigation.

im wondering what i should do. its not like my stack is huge, its sub 10k but i will have to see closer to the time whether to stake or cash out and put it into a regular bank account that pays similar interest. i guess with staking you might be able to tumble the coins and all that and you still own the link. if its still going up its a nice way to keep your stack but still get an income

they basically promise to aggregate all the link tokens staked within one pool inside their chainlink node to have some form of reputation so that they wouldn't have any financial incentive of deviating from providing correct, real-word data that hasn't been tampered with. doing the opposite would result in losing the tokens, once it was discovered (=meaning that your node's provided values are bs)

if you're not talking out of your ass, that's amazing.
still: waiting up to 30 days for an investigation
>opportunity cost

You pay income tax on interest - you don't pay taxes on cryptos until you realise your capital gains (at least in my country).

Staking and having that income stream in crypto means you can defer any taxes until you want to realise gains, or just constantly cash out just below whatever your capital gains threshold is.

Linkpool say they are so confident in their nodes that the smart contracts eill specify that they will end up paying the penalties, if they occur. Not sure if that's how it's gonna go down though.

LINKPOOL have already said any penalties will come out of their "hot wallet" and they will never penalise stakers

IT dudes, would it be possible to run multiple nodes from the one computer? will something like a CL node be very resource intensive for the computer? im a linux noob and ive been reading about running X-sessions and shit like that. can you run many different virtual machines at once and run the software a few times simultaneously? im guessing the limiting factor would be internet connection in that case. what if you ran many virtual servers at once, or whatever the fuck theyre called, when you pay a company for their internet connection. pls no bully

What about the penalty though?
They stated earlier that the penalty would be paid from their own wallet, since it would be their fault if their node fail to deliver for whatever reason
This nee article seems to imply that oneself has to pay tor the penalty
Or am i wrong?

Because Link won't rise exponentially in price overnight... don't you want to earn a return on yor investment? If you're earning as little as 0.5% on 10,000 LINK, that's 50 LINK a month. Don't touch it till Link is $100, and you will have effectively made an extra $5,000 a month doing absolutley nothing

Have in mind that link price will go up with adoption so the roi might be low but you will be raking linkies that in the long run will be worth a lot.

You're going to make it

MOMMY

i am but i imagine there will be some sort of token purgatory during a penalty payout over X amount. if someone attacks the network are you just supposed to eat that cost?

my countrys laws will no doubt be different and ill have to figure out a scheme like that, but it will be similar. imagine if this bitch moons and the board is filled with "how the fuck do i evade the law on my gainz" threads, filled with nolinkers getting all abusive and jelly saying we "ruined crypto"

My only doubt is if theres compound interest in staked links or not.

is this worth if I only end up with like 1k-2k link?

yeah thats pretty much what i was considering as the reason not to cash out in the long run. i just hope i have the balls to hold once it starts hitting big numbers

I swear I signed up on the linkpool site a couple months ago but never got an email. Now their site says the beta is closed. Will I be able to use my 50k linkies with these guys or what??

We need more digits.

Pre Sibos 50k linkies going to make me stinky rich in 2018 boys

underrated

Wow, functioning alpha node on ethereum test net is massive. Just a few weeks ago one of the devs was saying the functionality isn't "there" yet, but Jonny and the community's overwhelming involvement with the go release is making shit move at an incredible rate.

I hope that when I'm finished writing this and check binance, LINK will still be dumping so I can buy more. Unironic post.

>redditor has never heard of UML diagrams
calm down, child

>fiverr vids
holy fuck that stinky linky vid was fiverr? i genuinely thought we had literal 12 year olds among us

...

58k linkies here....see y'all in lambo land soon!

fucking checked my man

have you been struck in the head recently m8? i ask out of genuine concern

Hey Jonny I know you are here lurking. Can you please start capitalizing ChainLink properly. Note the capital L

>No one knows, Linkpool devs said 0.1-1% returns on tokens a month initially, upwards of 5% in the future with adoption (years from now)
>Number of token staked, returns on a monthlt basis:
If the price of a Link token would be, lets say, 100usd, wouldn't be the cost of the contract too high? Wouldn't companies seek for another solution then?

...

did you see the quads a few posts above you though? suck on that

LINK is divisible to 18 decimals. If the market price of linking a contract is $0.50 and tokens are $100 each, they would pay 0.005 Link. This is why you want to start staking ASAP.

If it's still $0.50, and Link is $1, you'd earn 0.5 Link.

That being said, the more network usage, the more we will earn volume-wise.

fuck, just tried to verify new card and now fucking coinbase froze me out. fuck chase. fuck coinbase.

0x38575761f7281febd11b1ec47d027c8cc7284b61

poorfag here

>would it be possible to run multiple nodes from the one computer?
it should be ran from virtual private server for internet connection and hardware stability

requesting QRD on johnny.

thanks user

Fucking pathetic

So the higher the price for token is, the lower is monthly token income.
So is right, 5% in the beginning, 0,1-1% later. It means devs calculate about 5000% long term increase of price from the launch of first nodes.

Those nodes will be alpha as fuck.

Checked

Very talented dev ops career, smart contract programmer and auditor with a great mindset for security. Lead developer on the Linkpool.io project as well as a major contributor to the primary chainlink code

He's a real gem

Kek loves Link memes

...

uh uhh LINKies uh uh find a way

So Veeky Forums, we trust Johnny with our money?

It’s looking that way

No, he's wrong. I remember Mat Beale discussing it on the Telegram chat. He's just using a constant price of Link in his calculations.

Think about it, your monthly income in $ will esentially either be the same, or increase as the network is adopted. Assuming the amount of Linked contracts doubles (in USD):

If you earn 50 Link @ $1 Link, you made $50.
If you earn 5 Link @ $20 Link, you made $100.

My point is to maximize the amount of Link you receive initially because it will increase in price and have a multiplying effect. Those 50 Link you earned in the example above is now worth $1,000 @ $20/Link, and even more at $100, $200, etc.

You want to leave your tokens in the node as long as possible because older, more reliable nodes will receive more transactions. Plus, if anyone removes their link, your Link in proportion to the total Link in the node will increase, yielding an even higher return. Read Linkpool's articles on Medium for more clarification.

Let Jonny do Jonny man.

You are an idiot if you don't think this is huge. This clears up a lot of worries a lot of people had about linkpool security. You retarded holders wouldn't care about it anyway because you're planning on selling once it hits a dollar. For the rest of us this is going to be passive income and a shitload of free link.

30k link checking in. Goal is 50k. This is fucking huge because it's true

Anyone will be able to just look at the smart contract code and confirm with 100% certainty if it's safe or not.
That's the beauty of smart contracts. Even if Johnny wanted to fuck us up he would have absolutely no way to if the code has no holes in it.

Doesnt this also tie up some circulation of Link which in turn increases its value as well due to a reduction of supply vs demand?

I'd rather he stylize it correctly actually. I would think the SmartContract team would prefer it as well. He doesn't type Linkpool, its LinkPool, same deal...

Yup. That's why we believe in Singularity. It's not some bullshit concept. It makes sense. Everyone will be staking so the amount of LINKs you'll be able to purchase will be very minimal which will sky rocket the price high enough for a lot of us to become rich and sell. That's exactly how singularity works.

yeah i got fucked on this too desu...think it's a sign for me to run my own node..idk. We'll see how things unfold.

agreed

Would Smart Contracts have any effect on the gambling industry?

Surely smart contracts could use BBC, ESPN, etc to decide a bet between two people on opposite sides of the world who have differing opinions on the outcome of a game.

It would just be like you betting with your mates in the pub.(No Middleman)

there's only LINK in the future (and ETH)

>if the code has no holes in it
Because software doesn't have bugs or anything.

Thanks for clarification, makes sense. Singularity, I dig it.

Yes m8. There are so many possibilities.

Read my post again, you dumb tripfaggot
filtered btw