So you have all lost money on LINK, right? I am new here, but all I see are people desperately shilling link as it continues to underperform.
So you have all lost money on LINK, right? I am new here...
Yeah LINK is the new DGB, stay far far away user
Bought at 0.15. And what the fuck are you talking about with link underperforming?
I bought at $1.42 and have never met anyone who bought in higher than that
>I am new here
pls sirs just hodl! hodl!
you're such a fucking idiot - so short-sighted
LINK LITERALLY CHANGES THE CORE FUNDAMENTALS OF ETHEREUM!!
if you buy $1000 worth of LINK now and hold it until EOY you could be worth more than $2MM.
$1000 OEYY !!!!111!!1111!!!!!!!!!!!!!!!!!!!!!!!
>continues to underperform
more like coiled like a snake, ready to strike in the blink of an eye
Yeah man it really sucks to be able to keep buying this shit at such a low price after doing months of research outside of this echochamber.
link is unironically my biggest gainer, I started crypto in mid november when link was 0.15usd and I put all my funds into it, made me a lot during the bubble.
ive been accumulating desu
I don't like what it's doing to the board to be honest. At first it was funny, but because of what you said, people got deeper in the true believer mindset and started being negative and toxic. They just insult people now, and tell everyone who disagree with them to kill themselves. I don't like that.
It's a bunch of bullies. It's tiresome, extremely tiresome.
It sure stinks of failure
you dont even know what link does faggot
i bought at just under a dollar in january and i couldnt care less. LINK gonna change all our lives soon.
If you've been on this ethiopian meer cat skinning information board for longer than two days, you unironically should.
What? I probably know more about it than you do. What I don't like is that it has the worse community here. Even EOS people are pleasant compared to you guys. I didn't say a single negative thing about it. You're the ones hurting the project with what you're doing constantly.
I've been here since 2006.
try being here since 1998 newfag
ive been here since 1960
It didn't even exist back then. Even SA only goes back to around 2001. Do you think m00t created this board when he was 3?
We're tired of dealing with copypasta fuders and retards who are so stupid that they can't do basic research making threads asking the same fucking questions every single day that fill up with nothing but copypasta fud and the same shitty memes that have been posted over and over again ad nauseum. After six month of this shit you'd be sick of it too.
Do you think other people are not sick of seeing 20 to 30 Link threads a day? On both sides people are sick of it, and both sides are becoming more bitter, that's what I said.
>Not being comfy as you watch deluded retards setting themselves up for failure by buying one of the worst shitcoins out there
>Not enjoying the irony of the upcoming mass suicide even that will grace the board
This is DGB on a whole new level
y r u dumb
no linker pajeet detected
Is there any reason why you nerds are investing in this coin in particular? Or is it just a giant fuckin meme?
I bought sometime in January at the all time high.
its just a meme, dont buy, sell if you are holding
If you want the truth, it's because a few people pooled together to participate in the ICO.
Try to be less shitty, you're making this board a worse place. Some day you'll realize what you're doing and understand.
See this is exactly what I'm fucking talking about. This dumb fucking faggot and hundreds of others asking the exact same question every day. Every fucking day with this shit. Do you think we aren't sick of the fucking catalog being filled with LINK threads? Do you think I want to see the exact same memes over and over again until I want to puke? ChainLink has become a fucking disease, and I wouldn't be surprised if 90% of fuckers from the presale have LINK threads blocked by now.
did you at least short something?
Sorry mate, I got linked here from /g/. I don't keep up with cryptocurrencies and just wanted to know why there's so many threads up with this icon.
I tried reading up on what value the company behind it is offering, but I can't understand a single word of any of it. Something like letting banks read the blockchain or some shit? Doesn't sound that great to me, but tons of fuckers here seem to be enamored for some reason.
Dumb it faggot
I already have filters. I turn them on and off depending on my mood.
I hold 10k link and hope this shit dumps just so that all the spamming faggots lose their investment.
>filtering out the word link
Not even. I don't know how to operate a program more complicated than Word. I just like the shitposting.
I guess this is a trilogy of videos explaining why the tech is worth it? Aight, I'll listen to it while I browse, I guess.
>only 2k watched the 1st video and 400 the last
man the next year will be a hell of ride in the good kind of way
Start by researching blockchain then study the oracle problem. Then you’ll understand why we have a collective hard on for LINK.
Read the whitepaper and make your own call. Chainlink has future potential, what happens to the price now is all based on speculation and bound to be volatile. It launched during the ico rush so, with the rest of the market, it boomed and tanked. A lot of people heard about it in late November/December and have lost out whole ico/pre-Nov are still multiples in profit. It's nearing main net so maybe soon price growth based on genuine value representation will start.
It's a recording of schedule.sxsw.com
we're all speculators, and LINK promises to be the gold rich seam that'll make us rich.
it's somewhat risky, but that's just partof the game. all the shilling is just us keeping our spirits up. it's funny watching the no-linkers lose their heads over it too.
Sorry, this is probably the 3rd time I've ever visited Veeky Forums in like 10 years on this site
So let me get this straight:
>2 Parties agree to terms on a contract
>When certain parameters are met, a 'smart contract' automatically pays out one of the parties
>ChainLink means to provide data to these smart contracts so that they're accurately fulfilled, Chainlink is decentralized and therefore trustworthy
>This eliminates any need for lawyers to double check a contract if the terms have been filled out and someone calls bullshit, or eliminates the possibility that someone fakes data and makes money fraudulently because Chainlink can't be spoofed
Am I getting this right? Do these fellers really mean to say that the decentralized database they'll build will really contain all of the data for all of the smart contracts in the future? Sounds like a fuckhuge amount of data that isn't sustainable, and I'm not sure why the Medium article I read is saying that smart contracts are going to revolutionize the world.
A fair amount of background information is required to understand it, not just technology wise but also about the obstacles preventing adoption. I'll try and be succinct but will fail.
There's a blockchain concept called a Smart Contract. It's like a small application that can be published to blockchains like Ethereum. If you feed it a tiny amount of Ethereum, it executes. Smart Contracts can be used to enforce a trustless agreement between two parties.
For example, two parties want to gamble. A Smart Contract will choose a random number and if it's even, party A wins and if it's odd, party B wins. They both send their Eth, the contract executed, chooses a number, then pays the eth to the winner without fail.
That's not a very interesting Smart Contract and most in existence today aren't interesting either, predominantly because of a limitation to blockchains that ChainLink will solve.
Blockchains will never have access to data off-chain, like financial data, weather data, etc without the use of a bolt on called an Oracle. Oracles can be made to be ready to look up information and input it to a Smart Contract. For example, say the two parties wanted to bet on the temperature on a given day instead. Both parties pay the Oracle, the Oracle sets up a smart contract, sources the current temperature on the day, and the smart contract pays the party who wins the bet.
The problem is that currently Oracles are centralised, this means they are run off chain by a 3rd party company who cannot possibly be trusted by the financial world to operate in a fully trustless manner. Having to trust a third party with this crucial step (sourcing the data without bias) makes the whole benefit of using smart contract pointless because if trustless isn't important then you would use paper contracts and third parties to start with.
>Do these fellers really mean to say that the decentralized database they'll build will really contain all of the data for all of the smart contracts in the future?
no, they're not building a "database". you need to visit a bit more often and begin educating yurself on this stuff.
This is known as the Oracle Problem and it's where ChainLink comes in. ChainLink is creating a smart contract that can interact with a network of independent (decentralized) nodes that can source any data using APIs.
Two parties place their bet using a ChainLink Smart Contract which will ask as many nodes as the parties request to tell it the temperature to form a decentralized consensus. Nodes giving the popular answer are rewarded with LINK and reputation while those found to be wrong will have their staked LINK given to the parties and lose reputation.
The parties could also choose to use just one node depending on the type of data being sourced but this of course limits the resiliency benefits of using decentralization.
The company behind ChainLink are particularly interesting. They have been working directly with the financial services world and have shaped their solution to enable banks and insurance brokers to use ChainLink with their existing legacy systems by supporting any API. This is seen by many, companies and speculators, as the solution to adoption of Smart Contracts and the beginning of a massive disruption to how the world forms agreements. The use cases are endless.
Bought my first 1k links yesterday. Enough?
yes. eoy price will be between 100-1000, depending on certain things.
>So you have all lost money on LINK, right?
Wong. You are new. Don't buy link. Leave. No shits are given
How can you be so confident in this price prediction
That's legit why I'm asking mate.
OK, so Chainlink basically allows smart contracts to search for real-world data? Let me get this straight:
>Insurance company Inshure says that if you pay your premium, you'll get paid if your house gets flooded
>Guy A pays his premium and gets into a smart contract with Inshure
>Flooding occurs in Guy A's area
>Guy A files a claim to Inshure
>The contract contacts Chainlinkn, which searches out to validate the information from an arbitrary amount of sources, and if the data points to Guy A's claim being valid, then Guy A is paid out and any other terms (like his premium being higher afterwards because insurance companies suck) are also automatically fulfilled
>This eliminates the need for an insurance agent, which means that Inshure has more money, which means that they can afford to pay people out at rates that they're comfortable with, more money circulates through economy
Is that about right? So investors buy the coin, SmartContract uses funds to build Chainlink, Chainlink blows everyone's tits off, SmartContract becomes super valuable and iterates on the functionality of Chainlink? Does this work with current conventional currencies like the dollar, or just cryptos? I guess if all you want to do is invest in the coin, it doesn't matter.
Sounds neat. I'm having a hard time visualizing the revolution that Medium reported, but if I'm understanding it right I can at least see how it has the potential to be disruptive. Maybe I'll invest 20 bucks in it just in case it at least becomes a bubble.
>That's legit why I'm asking mate.
wasnt being snarky, it's just that there's a lot of info out there. the devs and partners have a lot of posts on medium which are fairly easily digestible.
>How can you be so confident in this price prediction
the project's been hitting roadmap targets, mainnet is coming out soon, they have solid partnerships with real-world companies and institutions, tokens will soon start to get staked in nodes, reducing its supply and pushing prices up etc. lots of reasons to be bullish for LINK's price eoy
It will unironically be your biggest gainer if it’s your only gainer.
mfw when i kms myself
Yeah sorry, it's just that half of the terms being used on their website or on the Medium articles I've read might as well be Hobbitspeak to me.
I think I'm getting it. Smart contracts contact Chainlink which buys info from external sources to validate information that, if it meets certain conditions, pays out a party. I'm assuming that at some point, funds are sent to SmartChain, the company grows, the coin gets more valuable, Chainlink gets better, and ideally it's a viciously profitable cycle. Or maybe I have it all wrong and don't get it at all.
That's right, except the consumer won't have to make a claim as the smart contract will trigger as soon as sourced say a flood has occurred and the consumer is paid. I think we'll still see insurance agencies but they'll have far fewer administrative overheads. Only crypto can be used to trigger Smart Contracts which are based on a token, LINK. LINK is necessary as it's what nodes will stake to pay for the right to submit answers. There are technical reasons why ChainLink needs it's own currency that apply to all crypto projects.
chainlink is blockchain agnostic, that's where the magic happens, it means it is not bound to 1 specific blockchain tech, so it will UNIRONICALLY (kek) be the entry point for corporation into the blockchain world.
they won't have to implement specific code for moving assets from one blockchain to the other, to ANY other system.
it UNIRONICALLY (kek) LINKS ANY data provider with anything blockchain related
sorry for the keks, it's because people here get pissed off when we say the word unironically instead of literally
>For example, say the two parties wanted to bet on the temperature on a given day instead
In this case, it makes more sense to just get data from a well known centralized weather data place like weather.com, wunderground, yahoo weather, etc. The parties agree that source is reliable enough for the level of data that their bet covers, and that's all. I'm not sure how a network of independent operators all giving their own temperature forecasts is better for many use cases. Not many people say "Oooh I don't trust the temperature reading from that national and well known weather service, I demand my own independent temperature readings and I'm willing to pay extra for them"
The weather bet is a shit example, but most examples given don't really seem to require a vast network of independent data providers and in most cases a simple centralized source will be cheaper, simpler and just as reliable.
you better start kyssing yourself, or you will kys yourself when link moons
Oh fuck, alright.
So if the technology takes off, LINK gains massive inherent value and basically everyone wants LINK?
OK, I'm seeing why this is a meme here. I'm gonna sleep on this and heavily consider investing while it's less than a dollar per coin. Thanks to everyone for spoonfeeding me so hard, sorry for being a brainlet.
Again, if this takes off, this is what makes cryptocurrencies and their benefits mainstream??? Holy moly
>mfw browsing /g/ instead of studying for my CompSci exam might lead to me actually getting in on one of these things early
that's kinda right. price will rise also b/c coins will be staked in nodes - i.e. not in circulation - and will gain dividends for those staking the coins and running the nodes.
what LINK is essentially doing is using the immutability of the blockchain to create a trustless mechanism to adjudicate and settle contract terms and responsibilities.
yes, also they ARE RIGHT NOW working with SWIFT and some other big players, also nick szabo, the guy who literally invented the word smart contracts is now following sergey and his steam. also the domain name smartcontract.com, was registered in 2009 before satoshi nakamoto proposed his white paper for bitcoin.
also sergey nazarof is autistic as fuck, hes a fucking genious, and have ben working on chainlink since 2014 when bitcoin was worth few dollats and ETH ...
dude this project is not a joke, the link is a meme is a meme is NOT A MEME
I went balls deep into link, this project is the ONLY not chink scammy project, with real application to the real world, this si the next step in the blockchain world.
This is another shit example. Insurance companies don't just say "was there a flood" if yes, then pay out any flood related claims". They need to make sure the claimant was actually affected, that the specific damage was covered by their policy, that the claimant isn't lying or exaggerating, all sorts of stuff. Much of this can not be automated, you still need an agent to review the claims, etc.
Linkies keep giving unworkable real life examples of how they seem to think this will work, and none of them pass the logic test.
>hurr durr all policies will be auto paid because Oracles will detect temperature and floods
>hurr all managers and insurance agents will be fired
>Link will run everything automatically
kek this is more or less where I am. I missed an opportunity like 2 weeks ago because I wanted more but stuff like ETH has just been spaget.
Daily reminder that when chainlink mainnet will start there will be no customers, no one willing to use it
Yes, the community around it is far beyond retarded BUT those of FUD the hardest are also those who understand the most about this project and stand to gain the most by maintaining new comers away.
It's impossible to be down on LINK if you were a smart user and bought during the months it was stagnant at 1500/1000 sats.Those who bought ATH well...they're just late to the game but even buying link at 1.4$ is nothing in the long run.
Before this bear market, I would constantly worry about my investments since I was actively trading everyday and looking to make the most of it. I did that just before the Dec/Jan mega pump and put all my funds on LINK, REQ, XLM and COSS.
I don't give a fuck about the market now. I just have to live my life quietly for 1 or 2 years and I won the game. See you suckers on the other side.
You get real. Were not talking about something will happen in months, more so 5-10 years. If you can't see that this isnt where the world is going then you may as well sell all your stacks and leave crypto.
That's absolutely correct. For the purpose of clearing explaining the concept though, it is useful to over simplify the use cases. The real world uses will be far more precise and probably operate more like trustless triggers that lead to some further action being taken. The use cases for finance are especially abstract and do not aid to explain ChainLink clearly.
fuck off dude, I work at Allianz, on policy life cycle, I Literally work on a system to automate contract life cycle, pricing renewal and regularization.
it shows that you're a retard and don't know what you are talking about.
In a contract, right now in insurance, you have what we call covers, and when the client subscribes to a contract, he chooses a formula and each formula has a set of covers, and some specific rules relates to the aging of his vehicule and stuff like that. Covers are what the contract will cover in case of incident, for example, if he breaks his windshield, will it be replaced? if he gets an incident under 50km from his house will he get assisted to his house or will we give him a replacement car ETC.
you usually have two parts i a contract, the claims part and the one that handles the covers, the claims part handles the damages, and the policy part handles the payments the client will make.
so basically, for recurrent payments smart conracts can be used, and to recalculate the new annual contribution smart contracts can be used, they can also be used when contract gets regularized, you are talking about the claims part wich requires specific input from the client but this also can be automated, simply by putting rules like, if user got hurl, at what degree, and what part of the car was damaged and stuff like that
im not a native english speaker, i don't now the technical words in english but anyways basically you are larping, and insurance companies NEED automated contracts at least for recurrent payments, not for the claims part (wich they can also automate)
dont be such an autist - contracts are inherently complex, so people just simplify to an abstraction for the sake of demonstrating a concept. it'd take a post as big as an actual contract to do it justice.
LINK is intrinsically worthless. Node operators can be paid in existing cryptocurrencies. Just look at the testnet right now, it only accepts ETH instead of LINK lmao. It means that ETH can easily be substituted for it, that is, if someone wants to fork the token to accept ETH (an established cryptocurrency instead of some fucking ERC20 token made with a two-man team), LINK is basically useless. That is besides the fact that everything LINK aims to do can be easily done by cryptographically signing the data from the API source.
>muh next ETH
Link, 5 months in: 35 cents (3.5x ICO)
Ethereum, 5 months in: $5.50 (17x ICO)
Uh oh, pissed stinker incoming HAHA.
>I don't give a fuck about the market now. I just have to live my life quietly for 1 or 2 years and I won the game. See you suckers on the other side.
this. even though LINK hasnt made me any money yet, it's kinda given me a peace of mind knowing just how solid a project it is.
Look at links volume wtf?
Fucking hell. Sounds like some real high-roller shit. If SmartContract actually has the contacts that people here are saying that they do, it sounds like it might not even be a gamble. It sounds like this is literally just a matter of realizing the potential of the technology while it doesn't exist yet and praying that the developers manage to make Chainlink sophisticated enough.
This is definitely the biggest gamble, behind how LINK was going to accumulate value (which just got explained). Still, if Chainlink doesn't replace an insurance agent's job, it sounds to me like there's plenty of room for simpler cases for this to work, so long as it gets adopted. That's the gamble, for sure.
Might throw $100 on this just to see what happens. I've spent $100 a month to not remember a couple of nights a week and pee out funny liquids, I could be more irresponsible with Mr. Franklin. Sure I might lose it all, but this sounds like some snake oil I can't let myself miss out on in good faith.
I do agree with you, It's the only investmet I ever made, that I have NO DOUBT about, even when it dips i dont give a fuck, actually I just buy more
This post demonstrates a significant misunderstanding. Link is not competing with Ethereum. Ethereum is one of many Blockchain 2.0 networks that ChainLink will operate on.
fuck you, literally.
what is an investment? ANY INVESTMENT IS A GAMBLE you retard, you never invest once it is mainstream, that's what retards do.
In 10-20 years, something like this could happen. But it could also use other oracle type solutions that are not chain link, or how blockchain is ultimately valued and used in society will change a lot. If getting data in and out of blockchains is important, which it will be, then there will be many solutions. If a 2 man team can whip up a solution in a few months, then as blockchain develops and evolves, there will be many broad and targeted solutions to the problem throughout the industry, and from much bigger players.
>for recurrent payments smart conracts can be used, and to recalculate the new annual contribution smart contracts can be used
All this can be automated now without smart contracts. Many companies do this themselves or use services that do this. Are you saying it is not automated and done by hand at Allianz? haha
no one seems to fully understand what the actual real world uses will be. In reality, smart contracts will only really work with very clear data points, at least for a few decades until AI matures. This limits their value.
People keep using bad examples and literally cannot come up with any actual useful examples, because the actual current applications are extremely simple and not very valuable, and can already be done without blockchains or oracles.
>>for recurrent payments smart contracts can be used...
answer was meant for
>friendly reminder that early investors in DGB have basically made it if they sold the obvious pump.
dont sweat it, it was just copypasta fud that rears its ugly and constantly disproven head from time to time
Haha, you sure change your tone quick. Yeah, I know you gotta risk to reap. I'm just saying that this one aspect seems like the easiest part that can fall through- if it's not sophisticated enough to prompt companies to finally buy into cryptocurrencies. The more I read, the more I want to invest just in case, honestly. It sounds like these guys are sure to launch and it would be worth it to get in even if LINK ends up being a bubble that goes nowhere.
It's worth throwing $100 at, there is a lot of speculation in this market, if the market gets bullish again then you may make some money. Many vaporware companies have done great in the past, till they stopped doing great and crash. And there's a chance this isn't a vaporous scam.
>If a 2 man team can whip up a solution in a few months
smartcontract.com, LINK's "parent" company, was registered before bitcoin was invented. just how new are you?
Yes, it was registered in 2008 or 2009. So where are some great examples of revolutionary smart contracts that it has created?
I was talking about chain link, btw.
smartcontract.com was not registered by sergey
the domain has been owned by a few different people
it is nto done by hand, it is calculated on fucking old tech coded on cobol...like most of banks, they usually then build webservices over the cobol crap.
and they usually give external access to those webservices, to 3rd party software and that softwares inputs data and calls the backend in a specific order.
indeed it is automated now, but it is prone to error, and for them to retrieve data from an externl source, they have to pay services companie to implement those webservices and plug them in, and it costs millions upon millions of dollars.
also there is no way for insurance companies to use the blockchain world, unless they pay again millions of dollars to accenture, or capgemini assholes to implement a plugin or whatever, those capgemini and accenture or some other shir services company will use chainlink, because they are lazy fucks, and they want to be spoon fed with technology easy to use and that is generic and safe.
but anyways this is us guessing what the big insurance companies will do with our mindset of nOW...
imagine the future, where blockchain is mainstream, and used everywhere for IOT and shit, who do you think all those big players will turn to?
CHAINLINK, not a fucking chink tech, even if it' not the big players, it could be some insurance startup, or even whole crypto exchanged impelemnted using smart contracts, or shipment payment, or ICOs, any future ICO could use smart contracts, the uses of chainlink are huge, and the banks of whatever, they will end up using chainlink, without even realizing it,
SmartContract was a consultancy firm that identified a barrier to adoption. Chainlink is their solution to this problem and it's how they're suddenly in the spot light appearing at conferences around the world.
>and the banks of whatever, they will end up using chainlink, without even realizing it,
SWIFT, which is just one of LINK's partners, services 30-odd major banks. honestly, LINK is gonna be so big it's almost scary.