Can someone refute this FUD?

you should probably not be investing in crypto

>what if you enter into a house rent contract for a year for $1000 per month and suddenly inflation hits 100000% and your tenant is now living in your house for basically free
this hypothetical situation is fucking retarded in the first place because if there are $5m 10 year contracts going on in the network LINK can only increase from that point and falling 99.99% would pretty much mean the collapse of the entire world economy and everybody getting nuked by korea

The money isn't spend on buying tokens right?

>Not as I’m aware.

Meaning he doesn’t give a fuck about your hypothetical situations

what?

Ditto

Ok, wanna go do something else?

Basically what will happen is that the collateral won't be placed up front. On the day that a fixing rate is needed, when the smart contract reaches out to the nodes, that will be when collateral is put up. Given that the time between collateral lock and data feed is likely to be small (same day) the risk of a major LINK price movement in this time (resulting in an over exposure to either the smart contract holder or the node operator) will not be significant.

It's being backed by LINK, not USD. It's possible you can make derivative markets but that would be contract specific, not a LINK issue.

Nah. I'm gonna keep holding ChainLink.

Luckily for him all situations are hypothetical on a piece of vaporware that nobody will ever use

I love chainlink. All the drama, the memes, the community surrounding it, it's really something. But what I love most about it is knowing that in couple years I will be a billionaire. It's not even a 99% chance, it is quite literally guaranteed. As a result of that knowledge, I stopped showering and brushing my teeth over a month ago. There is simply no reason for me to do it when I know I'll be rich. I will be fucking whores every night and laughing as they're throwing up from my disgusting, stinky body and mouth. As they kiss me on my rotten teeth, or suck my stinky, 2 year unwashed hog. It will be quite something. In fact I am already seeing effects of my stinky adventure. Yesterday I went to a shop to buy some cheese and make a stop at McD's for a big mac and the cashier at the store was visibly gagging at the smell of me and trying to hide it. Other customers were standing like 5 meters behind me. It was truly hilarious. And none of them have any idea of my guaranteed, future riches. They must already be so jealous of me. The stinkiest billionaire ever.

>DURRHURR WAT IF METEOR HITS
If that hypothetical situation ever happened then it could only have been a result of link being a completely useless low marketcap pnd tpken and it would not have been used for a 10m contract. Circular reasoning

how about you post the entire conversation they were having you idiot. context matters in this case.

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my mother fucking sides

Delete this. The mindless faggots on this board should be allowed to believe that link is garbage if they want.

based

This is the kind of hubris that gets punished. You will fuck up link for all of us.

What if the dollar value loses 99.99% of its value?

The context doesn't change anything though, the answer Thomas gave just amounts to "penalties must be in LINK, and there is no method for dealing with price fluctuations for customer who would rather have a known USD amount rather than being collateralized in meme tokens"

...

You're a brainlet and deserve to lose your money.

alright folks, read the white paper. that a stupid question, thomas doesn't even understand it, can't get down to this pajeet's level. It's when they consult an API when the amount of collateral is decided, not fucking two years before. Make payment -> consult API, make another payment -> consult API again

Yes, but if you read my response you'll see that the risk of price fluctuation is minimised by reducing the time between when collateral is put up and when the node responds to the smart contract with data

Correct. It’s on a query to quary basis we already knew this

But there's not much more to say. If they're not comfortable, maybe they can wait until someone puts 1M LINK as collateral. But these transactions are never going to be "risk free". If this thing works it will probably have to work its way up, I doubt people will accept $1M contracts on day 1.

The dollar backed by the might and reliability of the US economy and government. Chainlink is untested. If you don't see the difference you should go try to buy a stock, house or burger with chainlink tokens.

institution can hedge using other instruments. like they always do

Guys, ChainLink is just a JSON parser, I don't know what you are talking about.

Just penalty 100k

this actually happened for a lot of people where i live lol

they can only raise the rent so much per month but they are still paying 10x less than market value since the market fucking exploded

and yes the market is vancouver

I guess you could lock up the penalty payment for two years lol, but it's not how it's supposed to work.

Go try and buy a house, burger or gas with American silver eagles and gold coins

This is why MKR partnership was huge. You guys seriously right now ?

Link has partnership with MKR? Source?

There’s going to be a stable coin that is going to be indigenous with the Blockchain. I guess you guys need to go research MKR for your answer and why they just partnered with chainlink to.... bonds and derivatives

Wait where did you get this from?

Usually things with real use don't lose 99% of its value in 10 years

Listen, LINK is a false flag coin. Think about it for 5 seconds and you'll realize I'm right. It's designed to play on human emotions, namely: hype, fear, greed, and hope. Hype because smart contracts generate buzz. Fear as in fomo or fear of missing out. Greed, meaning 1k eoy. And hope when you're stuck holding heavy, heavy bags.
From wikipedia:
A false flag is a covert operation designed to deceive; the deception creates the appearance of a particular party, group, or nation being responsible for some activity, disguising the actual source of responsibility
Sound familiar? Huh? What?
Also notice how sirgay hails from Russia. Who's public enemy #1 in America? Go ahead, I'll wait. Oh, yeah times up. Russia! Coincidence? You tell me.
Listen, it's easy. Whales are playing you and are out in force. They own most of the supply. They control the price action. And they want your BTC. Trade wisely, anons. You've been warned. That massive, 5 million link sell wall was not a mistake. It was not an error. It was a head fake. 5k sats, then doom. Beware.

json parser

twitter.com/ChainLINKfan/status/1032266815475527680

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Easy to refute. The token’s volatility couldn’t fluctuate significantly before a node has already made a conversion to usd

Lmao

>twitter.com/ChainLINKfan/status/1032266815475527680

Oh shit, you're not a larp, but an actual marine. Thx man. Read a bit of the whitepaper, it looks quite good. People are realling undervaluing these partnerships XD.

You do realize a smart contract can be written in terms of USD correct? It won’t be in terms of LINK. When the terms of the contract operate, and link tokens are released, it will be tied to the agreed upon value of USD

>indigenous.
Shall not infringe!

Link is garbage tho

Exactly. And if that is going on constantly, the price of LINK will probably be quite stable due to supply/demand, in order to keep the rate of return of staking at reasonable levels, otherwise there would be crazy arb opportunities.

they dont even have to "hedge"; they could just state that at whatever point to request for info is called, whether at the beginning of the contract, midway through or at the end, that end call is backed up by X no. of dollars in LINK. the guy asking this question in the telegram is a moron.

Correct

DELET THIS NO MOMMIE THE LINK SCAM HAS BEEN EXPOSED NOOO

Brainlet here. What if the guy running the node has no more LINK left? Would they somehow incorporate another person?

>Brainlet here. What if the guy running the node has no more LINK left? Would they somehow incorporate another person?
it would seem logical to route that data request through nodes which had the collateral value required.
this is why the higher the LINK price, the better it is for everyone involved. theoretically, a very low LINK price could mean there were no nodes with enough liquidity in LINK to host to data request. higher priced LINK however means that the network is more robust.

LINK 2500 eoy!

Good answer, glad to see somehow else who can think logically as to why LINK needs to be higher priced as network adoption occurs.

The only way LINK goes up in price is to get normies to buy bags though

stay stinky, friends

This

It's going to be some variation of this.

But yeah, I've wondered about this too. The weird thing is, whatever the new backing required is, as far as we know you have to use link for collateral. So, if the price of link *dropped*, you might not be holding enough to back the contract.

This seems fucked - you could get screwed out of your backing bc the price fell. Or maybe the contract would be voided as soon as the node couldn't post collateral? But on the upside, if the node did need to go get more link, all nodes would likely need to, driving up the price... which sort of corrects the problem of falling price?

life goals

What if the price of link falls, and the node no longer has enough link to cover the stated USD amount? RUH ROH

is the contract voided?

That’s why ou choose someone with 35% more link than you as a SCC want as collateral(increasing number of link staked) increasing demand with a lower supply raising the price. This way not only is it unlikely that it will drop this much it’ll be even less likely it’ll drop this much when you’ll only be fetching on a query to query basis.

This is the most reasonable answer.
else OP situation could also work the other way around, 10M loan, 100k collateral=$1 -- 100k collateral= price 1000K EOY and you would have 100M as collateral.

>But on the upside, if the node did need to go get more link, all nodes would likely need to, driving up the price... which sort of corrects the problem of falling price?
Right this is why they didn’t decide to have tail emission at 2% or something. Scarcity is key when utility is mandate

You can use a smartcontract-based futures to hedge your LINK stake, essentially eliminating risk.
Here's an interesting little project that does just that, and guess who posts about them on twitter?
projectchicago.io/

What's kind of blowing my mind is the amount of value the link token would need to have to actually function as collateral. Do you think nodes would be allowed to use their link as collateral for multiple contracts at a time? If so, then what happens to the rest of the contracts if a big one fails? If not, how the fuck could you have enough link to backstop the value of, say, a huge CDS?

This is also an issue with any currency tho right? Not specific to chainlink.

Asian people would have thought of this and already had a solution worked out.

"But, but, what if *insert ridiculously unlikely scenario* happens! Then what?!"

Stupid reasoning.

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yeah. Using usdt or any other token dollar would be a much better solution but how could muh link moon then?

Wut? We know about MKR & DAI, its been out for ages. Nothing to do with Link though, not directly - unless you've got other info to share? I know they're doing something with their USD pricing Oracles - have they said they're gonna switch to Link once mainnet drops?

I already posted this before, is this info really considered new?

warosu.org/biz/thread/S10845134#p10846986

In a way, doesn't Thomas's answer imply that it's irrelevant to LINK because of There still might be possible solutions with MKR though, but I don't know how exactly it would be

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>didn't see LINK in the last month go up 30% in a day.

That's the genius of LINK. Literally everything about the system is self-correcting. The delicate fine tuning of the LINK ecosystem puts those intricate hand-made watch makers to shame.

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Uhh, guys.

This happened:
medium.com/market-protocol/market-protocol-partners-with-makerdao-59f77e6d99e5

Then this happened:

medium.com/market-protocol/market-protocol-and-chainlink-team-up-to-enable-off-chain-asset-trading-on-the-ethereum-network-72c3ff4a3e1c

We gonna make it boys. $2500 EOY.

The state

“Okay, guys,” a female coworker of mine recently began, as she addressed me and a female colleague. Then she stopped herself, said she was making an effort to use more gender-neutral language, and carried on talking.

It was a small self-correction, and a glimpse at the conflicted feelings stirred up by one of the most common greetings in the English language. Guys is an easygoing way to address a group of people, but to many, it’s a symbol of exclusion—a word with an originally male meaning that is frequently used to refer to people who don’t consider themselves "guys."

>retards finally understanding that not only LINK has no reason to exist but the token is actively detrimental to the project

Top kek.

If it drops 15% it's just as unacceptable for any business.

This is the average utoken holder.

!

Link is a decentralized oracle network
Link tokens are used as payments for information requests.

What the fuck does this have to do with any of that? That's right nothing get fucked with your FUD 1000$ EOY

somehow people have conflated the penalty payments for returning correct data, with LINK holding insurance for the entire contract. If a contract needs it, since we will have Oracles, it could have insurance in ETH, BTC, or hey even the value in USD with a fiat escrow provider

This unironically made me bullish on REQ nice

how dumb do some of these fudders have to be to not realize that actual big fucking insurance companies provide the insurance for a contract, instead of a fucking crypto coin?

Which of course would collapse the entire bullshit argument that huge amounts would be held in LINK as collateral, justifying high LINK prices like that ridiculous $820 meme

You could use tether if you really wanted too lmao

exactly. the whole point of LINK as a universal oracle (just add adapter) is you will be able to interact with basically any system - in this example contracts and monetary systems (including other blockchain coins/tokens)

this. if you handle oracle services for an 1% of a 10trillion dollar market, doesnt mean you get that value, it means you get some fees for helping support the provision of contracts to that portion of the market

> hurrrrrrr why would the token price go high when there will be less than 500 million (probably less) freely floating around as fractional representations of the cash flow of markets and industries worth trillions and trillions of dollars in contract exchanges if it achieves widespread adoption?

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Read the posts I was replying to brainlet, if collateral is done in ETH or a stablecoin there won't be any fractional representation of anything in LINK

this too. large scale adoption and high volume will see LINK do VERY well.

but you cant divide the value of world derivatives market by x% and hope to predict a price. it's all speculative till we see adoption. So as said above, $820 or any specific price prediction is a meme