You guys don't actually get this, do you. You see it as "Oh nice, another Chainlink mention" and move on, as if it's just another news article to add to the pile.
This is a global turning point. This is the birth of the new standard for employment contracts. When the next generation takes it for granted that you are paid automatically by the hour, with tax deducted, this will be the moment it will be traced back to.
Think about "tax time". Thing about the insane bureaucratic inefficiencies that are wiped about in a single stroke by this technology. Entire departments of the tax office will disappear. In fact, all that will be needed is a skeleton crew to oversee aberrations, where the vast bulk of employment taxation will simply be written in to employment smart contracts and overseen by data aggregators.
The IRS employs 75,000 people. How many of those will be needed when employees don't even need to do income tax reporting any more?
This simple video is the start of something absolutely enormous, I'm surprised it hasn't caused more of a response here.
You guys don't actually get this, do you. You see it as "Oh nice, another Chainlink mention" and move on...
Other urls found in this thread:
media.consensys.net
twitter.com
*crickets*
I'm excited and still bullish
Sure, fortune 500s and government departments (not to mention regulators) will be ok with swapping traditional payroll to a meme token system. Totally.
pic related...
Fortune 500s will do what saves money you absolute retard
This is just a larp Jason parsers can be built in like two days where is main net? Never happening. If you buy chainlink you are gullible af.
shut up phaggot
This is actually a good thread.
This is why we must keep fudding user. We already know how good it is, but we can decide who is worthy and who is not. This isn't even about controlling the price for the sake of our own gains - it's also important that we make sure that the reddit faggots get as late to the party as possible by keeping them in the dark. Most holders who come to realize the importance of this project will make it - but standing by while those losers have a chance to get in on the ground floor is just something that my principles cannot allow.
Nobody on here talked about fudding Chainlink last year, as far as I'm concerned all of you are newfags. I'm going to spend my time discussing applications of Chainlink that excite me and both the fud and shill camps can go and fuck themselves. Chainlink doesn't need either.
how is that smart contract going to adjust for the 95 million different tax deduction scenarios that occur in a free market?
>crickets*
The vast majority of wagies don't itemize and just take the standard deduction.
this, keep the bullshit away and discuss legit usecases or partnerships
There will still be a reporting system, but this will automate a huge amount of the actual collection of income tax. You're being deliberately obtuse to deny the value of a system like this.
media.consensys.net
Chainlink is just another Oracle service.
That's true. Kind of like how McDonalds is just another fast food company though.
nice, never before seen Sergey,
not really, this system would automatically garnish the taxes due, but for millions who itemize this would fuck them up. how to fix without rewriting the tax code in tandem?
You called?
i...dont wanna be paid in ether
The fuck does itemizing have to do with your automatic tax withholdings? Retard
The system will have to accommodate the new reality. This will require huge changes to fields like tax and contract law, but that's an inevitable result of technology that fundamentally changes how value moves within societies. The argument could be made that the social changes precipitated by the global adoption of smart contract technology will be as big as those created by the global adoption of the internet.
Whoops!
Sorry about what I just did to your fud.
Haha holy shit I got chills
it's all cnonected
That's like asking "how is a car going to go places?"
What the fuck do you think a smart contract is?
With coding brainlet.
hello i am an idiot, how does this new chainlink work and make my life easier as an employer or employee?
what does it do and how does it do that?
thank you kind and knowledgeable
Bump
I'm gonna miss Linkies when their coin finally fails for good. They're the last True Believers of /biz. So deluded, so pure.
fucking link shill
post 1.4 mb image instead of copy pasting the text
link chain is gay just give up and stop shilling here
Yes, you retard. Multiple/other oracles on the Chainlink network. That demo was done using just one.
>Sure, fortune 500s and government departments (not to mention regulators) will be ok with swapping traditional payroll to a meme token system. Totally.
they actually will. not only that, they'll have to; if it becomes public knowledge that this form of wage processing saves money, the political pressure of government departments to adopt it will be overwhelming. same with the private sector, but they'll already have done it by then so that's just moot.
Not only this but also when the first few companies adopt CL for this sort of thing and it is clear there is savings being made and inefficiencies being cut, there will be a wild scramble among competitors to buy link.
Oh god please put my accountant ex wife out of a job. And let me make it at the same time investing in the tech that will do it. HAHAHAHA
I'm all in and already know that it will be the most useful crypto even surpassing Bitcoin if Bitcoin can't scale. I also can't buy any more. I have turned numb to all these Chainlink mentions. SWIFT could come up tomorrow and say Chainlink is the future and I will get a small dopamine rush and that's it.
Wake me up when the price reaches $1k and then I'll start investigating wtf just happened.
Oh look it's Astro trying to shill nothing once again.
But I don't wanna be paid in Ether, I'd have to sell it for fiat in some shitty exchange, lose a few percents doing that, and then withdraw to my bank account which will be flagged for unusual money transfers or some other BS
It's all so big it's impossible to believe. Bureaucratic reform is such a slow process. Automation at this scale would make top companies more money but it wouldn't be redistributed to compensate for all the caused unemployment. The rich will get richer the poor poorer. It's a political nightmare. It would need to go alongside a policy of universal basic income and would be fought against so hard. It will take decades before this starts getting adopted and society starts accepting automation of this level.
Openlaw has already been pitching this to the IRS. You'd think the IRS would see this and think wonderful let's absolutely push for adoption, let's save billions in overhead processes and change the way society operates for the benefit of everybody, but you know damn well it is the opposite that will happen. This shit will be fought against hard at all levels.
Really? Paying taxes more efficiently is what you want from crypto? Jesus Christ, I wish BTC would fall to 1 dollar just to shake off people like you.
I've been here since 07' and I have more hatred for gatekeeping turd burglars who use Discord/IRC to orchestrate discussions here than I do for stupid children who post on reddit. There is no "we". You're not an user. You don't belong here.
>paid in ether
I can't see how this possibly can be a bad idea
You cant be this retarded
Read the fucking article
It's literally written "paid in ether"
Jesus christ user.
Guys, not everyone understands your cult speak and in-jokes
Yeah, and apparently not everyone understands the basic merits of crypto as they've been heralded for many years now.
The market does, as seen in the charts LOL!
I'd rather be paid on time and not in ether.
Look at the price of Bitcoin and ETH a few years ago, lmao.
It's like you were literally born yesterday.
Read the article again, please. How do you miss this? Wages are paid in USD (or whatever you want), ETH is used to send the value around. Price of ETH does not matter. Chainlink network is used to determine price of ETH at the point in time where the payment is scheduled to happen.
>inb4 "why not just make the payment in USD"
You fucking KNOW that's the next question on their minds.
Why are we not mooning?
It's a valid question and answering valid questions helps reinforcing your mind about your investment.
>It's a valid question
Not really.
The whole point of crypto is to decentralize transactions and take control away from central points like banks.
This guy fucking gets it. This could unironically be a paridigm shift. So many applications it boggles the mind
Like gravity pulls water down a hill, free markets look for more efficient ways to function. If chainlink succeeds and it actually is this much better, it won't matter that crypto platforms like this are really esoteric. It will be used eventually if it saves money
it's because I've been tuckered out lately and expect a lot of other marines have been too
the things that we learned about over the past few months have been exciting, no doubt, but it's been a nonstop rush for the past 2 months. I suspect I'm not the only one that's gotten too tired to make lots of posts anymore.
Just dopamine overload. The only stimulus that will excite me at this point is the actual singularity.
Yeah that's cool but what about normies dude