REDPILL ME IN CHAINLINK, WHY ISNT IT FOLLOWING BTC PRICE AND WHY IS IT GOING TO CHANGE THE WORLD AND MEH MEH...

very simple

Imagine smartcontracts and decentralized oracles (chainlink) is like the interenet and websites. Smartcontracts being the website and Chainlink being the interenet protocol Https

In crypto people built the websites first, the Smartcontracts. Right now there is no way to connect decentralized data to these smartcontracts. Chainlink is the protocol needed to connect outside world data to smartcontracts. Without Chainlink smartcontracts doent work. Let me repeat all Smartcontracts are useless and ETH, ADA, NEO etc.... go to zero without LINK.

Its like having Websites built but no internet or network to connect to.

Chainlink is the network the bitcoin whales have been buying into.

Bull crap

Are you saying theres another decentralized oracle network that smartcontracts can connect to?

Would love to hear it. 100s of billions poured into smartcontracts and crypto but yet no one is using smartcontracts yet. They are waiting for the interenet to be built so their websites can go live. They are waiting for Chainlink

Pure shitcoin with no use case because it is trying to solve an unsolvable problem. Cant wait for the dump and NEET tears

Smart contracts can’t interact with normal programs or access outside data which makes them useless for anything other than self-contained functions like ICOs or gambling dapps. It is a huge problem and there is no solution right now that doesn’t introduce centralization which renders smart contracts pointless since they are no longer trustless.

Link claims they solve this with “decentralized oracles” but nobody outside of Jow Forums takes that seriously because it’s a fairly nonsensical concept. It’s basically an oxymoron.

Ico shitcoin like the rest with high volatility and meme potential making it the greatest pnd coin there is. Oldfags of biz know how to take advantage of late adopters hoping to get rich gamblimg on shitcones.

A man with sense

This unirocally

No it’s not. They’ve been buying into MKR. This is the new protocol. See recent medium post.

MKR is using Chainlink dummy.

This is the fucking problem with Jow Forums right here. Link Hodlers equate attacking chainlink with attacking oracles and smart contracts. Nobody is doubting the power in properly leveraging decentralized oracles that could properly align blockchains with existing things. It's obviously a huge market potential. Yet there's no "link" between chainlink ERC20 token and decentralized oracles at all and even if Sergey+team are somehow the ones to successfully integrate decentralized oracles into existing institutional transaction structures that means nothing for the value of chainlink. You may see a brief 2x gains in the best case but it will die out when people catch on that an ERC20 token characterized by an eyesore of graphic design has nothing to do with anything.

chainlink nodes will be paid in LINK
LINK tokens are used as collateral value

D Y O R
Y
O
R

LINK has become a fucking /biz meme because of bagholders who bought the ICO and have been stuck ever since. Unironically, here’s the black pill on Chainlink:

> Nobody gives a fuck about decentralized oracles except /biz
> No working product
> No demand for Smart Contracts
> No platform for Smart Contracts can scale yet
> Even if the platform can scale, Smart Contracts need to be adopted
> Even if Smart Contracts get adopted, no one gives a fuck about decentralized oracles when centralized ones work better
> Even if they demand centralized oracles, owning LINK is not required to use it
> 2/3 of the massive supply is still held by the devs to dump whenever they like
>The devs intend to give LINK away for free to encourage corporate adoption, anyway.
>LINK team has discussed private forks for businesses to run among distributed computers they own
>Target price of LINK token is only in the single digits USD. $1000 EOY is a joke.
>Chads buy SKY because that’s the future of the internet, not fucking shitty LINK.

you think shekelstein top 500 ceo is going to buy link and pay node operators in it ? get fucked, neet idiot.

decentralized oracles are pretty fucking cool desu but youre right that they have nothing to do with the value of chainlink (which is worthless)

twitter.com/OpenLawOfficial/status/1083434922000482304

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Source? Are you talking about Maker or Market Protocol?

You're an idiot. Are you playing devils advocate so you have a better understanding of the tech yourself because it seems as if you know just enough about the tech to hold a conversation but not enough to fully understand it. Either way, I will take time out of my day to explain this very elementary concept to you.

The token is necessary to pay node operators and its a necessity that node operators stake the token so that there is a financial incentive to stay honest in the network and to prevent sybil attacks. Now I hope you understand that part and now we can both agree that the token is there to provide Utility to the network.

>but you can accomplish the same utility without the token! You can use the Fiat, ETH, or even a stable coin to bypass the token!

Using this argument shows such a misunderstanding of the token and network in general. I'm going to dumb it down a bit here so you can better understand it and I'm going to approach this as trying to explain it to someone who has never heard of this tech.
Equate Chainlinks network to a poker game in this example. The players are the nodes and the poker game is the network. Now imagine one player is betting using USD, another one using AUD, One using physical gold to bet, and the last using bitcoin. This would complicate the game, and the casino would be tied to the volatility of a multitude of different assets. Instead of using a system like that, it would be much more convenient for the sake of the game to have every player use poker chips.

This is, by the way, ignoring the glaringly obvious fact that LINK is not an ERC20 token, It is a ERC677 token with a transferandcall function, developed by Steve Ellis to be used specifically for Chainlink. Using any other method and the network would lose the transferandcall ability.

Now I hope we all learned something today.

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Wearing pants

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This is the problem with Jow Forums right here. There isn't an understanding of Chainlink tokenomics.

1. Nodes will only be paid in LINK. Sure there will be conversion tools for people paying in fiat or other crypto but it will 100% need to be converted to LINK to pay node operators. This by itself could power the LINK value just by transactional value via repetition, supply and demand.

2. Smartcontract creators will use nodes that carry a % value of LINK to that smartcontract. Yes they will only use nodes with COLLATERAL VALUE. let me put that in simple terms for brainlets. If there is a 1 million dollar smartcontract, escrow bonds whatever, the smartcontract will us LINK nodes that equal to or a portion of of that 1 million dollars. This is part of the Chainlink protocol to deter bad actors in giving false data.

3. Because of #2, the higher the LINK value the higher the smartcontract value and vice versa. The higher the LINK value the larger number os smartcontracts can be used within the LINK network and vice versa. The higher the LINK value the more stable the network.

Now think about how big the smartcontract economy will be in the future. There is a reason why 1000 EOY can become a reality and why you hear it so much.

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I always rub my hands together with glee when a 20k+ link marine shows up to try and use ad hominem for damage control.

>This is, by the way, ignoring the glaringly obvious fact that LINK is not an ERC20 token, It is a ERC677 token

nope: coinswitch.co/info/chainlink/what-is-chainlink

chainlink is erc20 newfriend

a transfer and call function ? my 12 year old son codes more complicated shit with javascript in his sixth grade programming unit.

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imgur.com/a/HS9hIfr - Connections & Breadcrumbs
imgur.com/a/bklfSCi - Positive & Bullish Thoughts
youtu.be/xlyI3R7XvX8?t=1830
30:30 - this is why Sergey is quiet

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You have no fucking idea what you're getting into, son

github.com/ethereum/EIPs/issues/677

why do you do what you do?

Its not. Scamcoin. Kys.

github.com/smartcontractkit/LinkToken

here's more in case of
>muh SE's work isn't actually used in the token
now, sincerely, kill yourself.

At first I honestly could not tell if you were playing devils advocate or if you really had no idea what your were talking about.
After you posted that article as proof its very easy to see its the latter.

btw, if you google "chainlink erc20" that article is the first one to come up, which is what I am going to assume you did. There is also no more point replying as you clearly have no idea what you are talking about.

>a transfer and call function ? my 12 year old son codes more complicated shit with javascript in his sixth grade programming unit.
Im sure you know a lot about solidity.

Chainlink will change your life.

I stand so firm in this truth that I challenge you to spend an entire weekend dedicated to the remote possibility that this project changes not only your life and that of your progenity that should you fail to grasp this concept, you will be left with a lifestory that will die with you.

You only have one chance to make history.

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