One of the last concerns I had about the CL project was the transferring of Link after each data request and the attendant network congestion as the Link token itself needs ETH/gas to be moved from one asset holder to another.
From Thomas Hodges today in the telegram:
"- Requesters will need to use LINK in order to create and fund their requests for external data - Node operators will use LINK to provide as a penalty deposit - Node operators are paid in LINK, funded by the requester for fulfilling data requests
Finally, all transferring of balances once the request is made occurs within the oracle contract. The oracle contract keeps the balanace of all nodes deposits, requesters funded amounts, penalty deposits etc. When requests are fulfilled, instead of doing a token transfer each time, balances are updated within the contract and made available for withdrawl."
So basically only have to interact with ETH when withdrawing your sum total of a time period's worth of payments or initially funding. Which puts to rest the last issue I had in my due diligence on LINK.
Is this real boys? We're just gonna sit here for the next 12 months circlejerking and shitposting while we get rich? What a time to be alive.
Definitely not as important of information as the recent openlaw stuff, but still interesting to those who are digging deep.
For me that's it- I've spent 6 months trying to poke a hole in this thing and can't. Maybe there are smarter anons here who can, but I yield.
CL 1K EOY
Angel Ramirez
Thank you for sharing!
Jack Perry
So, what do you think are the chances of us making it?
Jace Turner
You’ve already made it user. You just have to be patient
Luis Diaz
>Is this real boys? We're just gonna sit here for the next 12 months circlejerking and shitposting while we get rich? What a time to be alive. It is indeed. We were always going to make it brother.
Matthew Collins
My general estimation is anything early stage is 50/50 because of unforeseeable externalities and goes down for each potential flaw. Since I started looking at CL I can't find any killers (last one was OP) and the team has exceeded development milestones always underpromising and overdelivering.
I dunno, 75%? Only thing I think people are at risk of is the normal human failures: everyone thinks that residual sell pressure and real life aren't things in their investment. There are guys eating oatmeal to buy LINK. Those guys will sell at $5 or $10 (and rightly so). Biggest hurdle to making it is probably the investors own impatience at this point.
Lucas Anderson
i rather live under a bridge for 5 years before i sell under 100$
Aiden Gonzalez
I believe one should keep doing research to acquire knowledge in order to gain the confidence needed for patience. Doubtfulness is what brought you here in the first place, but don't let it live where it shouldn't. Channel your anxiousness towards something positive. -Ra
Benjamin Rivera
On a side note they upgraded the token contract to handle passing both ether and data IIRC so that should help with load concerns as well
Jose Johnson
This is actually bearish for chainlink.
Grayson Parker
Withdrawal will still cause congestion
Chase Thomas
Please redpill me on staking nodes stuff. I have contributed a lot of valuable research on the business side of ChainLink but I'm tech illiterate.
Oliver Jones
Owning 100k of this is surreal, I am going to be a millionaire in the future. It's going to happen. God bless you all.
Ryan Parker
Didn't you say you'd never post again a few hours ago in another thread?
Samuel King
Please let 14k be enough. I hope we all make it
Daniel Russell
Big tech companies are trying to solve this problem since before you born, faggot
Do you really think that a FAT philosophy major can?
Yeah. Guess I'll just move on from research posting towards more philosophical content.
Grayson Turner
Taking this as an approval
Eli Richardson
Damn, you know your shit. I appreciate the research you've put into this, and thank you for sharing it. I hope others seriously consider your warning.
Kevin Parker
Please don't.
Aiden Davis
I love this pasta
Jonathan Brown
Checked
Alexander Bennett
OP can you please explain for the low IQ people? If im understanding right, all these payout transactions happen within the contract instead of on ETH, that way eth wont get congested?
Do you guys wanna get together and circlejerk IRL once LINK hits 1000?
Caleb Stewart
Nope
Lincoln Scott
Why not?
Henry James
Why not?
Lincoln Sullivan
"When you arise in the morning, think of what a precious privilege it is to be alive - to breathe, to think, to enjoy, to love". Keep this in mind when we make it anons. Let's try to create circumstances where above is possible for everything we interact with
Alright then boys it’s settled we found the next bitcoin/eth/oil and we no longer need 5 daily chain link posts we can go back to talking about economics we already made it, just wait a year to sell .
Owen Bennett
Biz's ChainLink community is like the land of the Lotus-Eaters. You can't leave. Link-Eaters
So serious question: What do people think about 65% of tokens being at the developer's disposal? And 1 billion total supply? I love the network and concept but Jesus. How will it be okay when those hit the market?
Matthew Reed
That is actually crypto economically genius. Sell the tokens OTC to institutions and they have a skin in the game. They get to choose to play long term games with long term people who are in it for utility.
Wyatt Smith
shout out to NavyAdmiral
What the fuck is this guy? If he's paid to contribute as a freelancer surely the team wouldn't want him running a chainlink shill and info repository? So this nigga is doing it for free, and not stuff that he or his company can use for their own profit. He's knocking out the front end shit. I mean this nigga did the 404 screen wtf
How do I stick my dick in the fact that link has the best 404 pages?
Mason Phillips
I can fap to this
Wyatt Cooper
As an investor you want the price to be controlled by the long term people rather than speculators. They will plan and execute it together. Whole supply on an open market and buying enough for years would bloat the price for the buyer. Buying OTC with a fixed price will incentivize to gain more buying power in the network. The early adopters will benefit the most and this will also make it almost impossible for competing networks to attract these adopters, this will further strengthen network effects. Despite of this the network will still be attractive for adoption at any given moment because you always tender out the nodes in an open market
Nathaniel Brown
Don't underestimate yourself user. Keep asking questions and learning. You will make it
Evan Morales
Is 160k enough to make it in 2 years?
Jose Howard
What that user is implying is that those coins will be sold to companies early when they're worth less so that those companies are incentivised to do their best to support the project since they'll directly profit from it being a success.
Jace Nguyen
Correct. But to specify; sell the tokens for less than the estimated open market cost. This will most likely be more than the current value. There could be all kinds of deals made here of course. "Make a smartcontract that buys us 500.000 Link a year for 5$ a piece for the next 10 years"
Josiah Martin
You could add Hyperledger which is directly associated with Accord.
Jayden Ross
Certain % of tokens will always have the equal % of the buying power in the network
Robert Phillips
It sounds like they're really thought things through, hope this really is the next BTC.
Jackson Cruz
Tokenomics people still have some incorrect assumptions about the remaining 650M not in circulation. Half goes to the team. Half are used to pay the nodes. Rory has stated this. They will hold (at least for a while). the half used for node rewards will be locked until they are used to pay node operators, namely, us. Circulating Supply will not exceed 500,000,000 until 2021 (IMO) Node operators will be paid a dollar amount in link, depending on the number of transactions it preforms. If you were to be paid $100 dollars in link, would you rather link be $100 (1 link payment) or $0.50 (200 link payment), I hope you said 200 link payment. Now arbitrage will not likely last long as the market catches on, link will not remain a low price given a return on (X)linkies exceeds the other investing opportunities by a significant amount. I actually don't think current price is all that far off from a healthy but normal rate of return we may see in the early stages of the network. For example, If you have A monthly return: 20,000 link in a node (@$0.25) and it rewards 100 link (or $25), or annualized 1200 link = $300. $300 return on initial $5000 investment = 6%. Now where it gets interesting is when more transactions are processe through the node (more businesses are onboarded), if price were to remain stable you would recieve more link. So now lets say 20,000 link returns 300 link a month ($75), but that would be an annualized 18% return, this should get people interested therefore buying up link and driving up the price of link which lowers the amount of link you recieve as reward (but keeping the $ amount of the reward the same). So in this example lets keep 6% an equillibrium, the price would rise to $0.75 per link and your 20,000 link are now worth $15000 rather than $5000 and your previous rewards that you recieved at $0.25 you could now sell for $0.75. Continue this processes until link = $1000 :).
Angel Sanchez
I remember when I first realized this, that the coins still not circulating were actually a colossal asset rather than a liability because of how they would be used. Sergey is a genius.
Leo Baker
= amount of transactions reflects token value (not the only factor)
Owen Nelson
you really said this at the right time. iron hands anyways, i just had some cognitive dissonance which you solved. thank you. also checked
We must all buy a burger as first meal, after we make it (whatever your definition of making it via CL is)
Me, I will get a blue cheese cheese burger, as ode to Sergey, the colour blue and his tartan.
Logan Gray
I have 50k. I hope its enough to make it.
Thomas Kelly
My friend owns a cryptofund in SF. I keep telling him about this token, and he keeps FUDing it saying it'll only be good for short to mid term.
His biggest arguments is if CL so good, then someone will just copy the code
Noah Hughes
Fuck yeh, good post user
Isaiah Perez
>shadow forking
Either you are FUDing us, or your friend is FUDing you
Eli Anderson
tell him to go copy bitcoins code. O wait his copy of bitcoins code would be worth shit because decentralized networks value is proportional to the square of the number of connected users of the network.
Jackson Morris
Nope just genuinely curious.
Thanks. Checked
Ryder Scott
You know, a decentralised Minecraft server powered by Chainlink would be awesome in it's absolute crystallisation of massive, crippling autism. Yes please.
How much link should I go for if I'm just dicking around with some spare change and not really expecting to make it or anything?
Aiden Lee
100
Lincoln Hernandez
Does anyone know who NavyAdmiral is? He's contributed a great deal and I've been trying to figure it out who he is but no luck. I asked this in another thread but no response, anyone have any idea?
Isaac Baker
I bet the Rothschilds have fucked the shit outta her
Isaiah Gomez
no... no one fucks mummy... mummy fucks you! >bend over, marine
Implying you wont swing trade it in the upcomming bullrun
Wyatt Watson
What a bunch of massive retards ITT, still not a single reason to use this shittoken instead of ETH. Utility tokens are scam.
Nathaniel Thomas
there's a lot of reasons. For one, the price of the token will eventually always reflect the strength of the network once it starts getting used, rather than being affected by the price of ether, which is subject to all sorts of outside factors that have nothing to do with chainlink, which is especially important considering chainlink is blockchain agnostic and will be used on many chains. This is one reason in particular link tokens have an even stronger argument for existing than other shitcoins whose fates are more directly tied to ethereum's success.
Jose Sanders
hehe
Adam Turner
Lol
Henry Flores
Good thread OP.
Juan Anderson
Your friend is a retard if he truly believes that.
