If (when) ethereum becomes the internet of finance and valued information, nearly all APIs will cut out the middle(ware)man and monetize their data directly through the blockchain via answers aggregated and sent on side chains to ethereum. This is just as trustless as if you assume API-->Chainlink-->Blockchain.
Even when it comes to interblockchain communication, with sidechains, you can set up a sidechain that hosts a record from other blockchains, with staking validators performing redundant hosting as well as validation of new entry and validation of correct answers to queries. Answers will be aggregated before leaving the sidechain in order to be gas efficient.
Chainlink will blow up, and will be important for the adoption of blockchain. It will allow interoperability between information and financial services that lag behind and those who are built on the blockchain. Gradually, however, due to the efficiency and profit margins benefit of directly monetizing your own APIs on the internet of money, we will see chainlink be used less and less.
That said, Chainlink will moon tremendously before the legacy economy transitions to writing directly on the blockchain. Just make sure you diversify after the moon seems to tapered off and has stabilized. Do NOT stay all in chainlink. By the laws of profit seeking, it will be disrupted by more efficient approaches. The oracle problem is a temporary one that would not exist if everyone just used ethereum in the first place (and ethereum being ready for such use).
whats a good sell target? what kind of news should i look out for as a sell signal? what if ETH never scales or hyperledger or some other competing enterprise blockchain service makes eth obsolete? what makes you confident enough to make a claim this bold?
Aaron Gutierrez
if you can't even reply then kill yourself faggot. bet you only have like 1k LINK.
Austin Peterson
$1000
Aiden Allen
>Ethereum will only be used in a transition phase
FTFY
Benjamin Wright
Chain link is dead Stop the fudd
Nobody is stupid enough to ever buy in. BTC is dead Will the normies jump back in? Absolutely not!
Nolan Butler
I was gone for a lil while.
I can't predict what the top will be for link value. Chainlink being meaningfully dropped is years ahead of when it starts being strongly adopted and the price of chainlink is likely to stabilize a lot before that. I wouldn't worry about selling at some predermined price. You'll know when Chainlink is at close to peak adoption. Maybe a year or so after peak adoption, you'll see price flatten out or correct downwards.
Just sell out very slowly and never sell it all. It's easy to overestimate how quickly businesses will transition to a more efficient method.
Pretty much all financial systems that currently exist could be more efficiently and more feature richly run on the blockchain, securities, settlements, trade and derivatives contract are very awkward with legacy fintech compared to blockchain.
This is, assuming ethereum will scale and in addition to that, there will be monstruously high TPS sidechains optimized for different sets of financial activity. I am 100% confident that this is doable.
If it isn't, then chainlink's peak value will be much lower, because blockchain's value and the value of monetizing external data delivery to the blockchain will be very limited.
Dominic Torres
Chainlink will always be the heaviest duty solution. The next world war will be 'negotiated' trustlessly through neet nodes, both sides if Human or machine.
Chase Morgan
Op this makes no sense
>The oracle problem is a temporary one that would not exist if everyone just used ethereum in the first place (and ethereum being ready for such use).
Your assuming ethereum is all of a sudden gonna have the capability to interact with outside data. Even if they built that capability. Its against the original vision of Ethereum. Infact the project clearly states they will not try to be a all in one project, they simply want to provide a platform for smart contracts to operate on. They won't also build another platform for oracles to operate on. We can never know though.
>Your assuming ethereum is all of a sudden gonna have the capability to interact with outside data. I explained it in my post. Major APIs will be reachable directly on the blockchain because API providers will want to cut out the chainlink middleman and be their own oracle. There will be middleware for organizing this information and having a frictionless marketplace for it on the blockchain itself, but it will be far less costly than chainlink.
The ethereum foundation will not "built the capability". They will only ensure the base layer scales, and others can build what I described on sidechains to the base layer.
Michael Martinez
thanks for the serious reply, sorry for just tired of seeing fud dressed up as serious discussion with no real reasoning, this ended up actually being serious discussion. I don't think anyone would be able to resist selling once it does hit 1000$ + per LINK.
Colton Bennett
Even if what you say is true, chainlink will have a massive established network that won't go away so easily.
Ayden Peterson
Sweet digits. But don't forget about offchain computation bitch!
Angel Jenkins
So how will Major APIs accomplish the goal of being their own oracle without a community-based network.
The whole point of chainlink is that there are many node operators running all around the world. You're assuming each data provider will want to build their own network just as intricate and it will somehow be cheaper?
Bentley Nguyen
XRP+Coduis (coming soon) has already won. Beaten Ethereum and solved the oracle problem. You people do not understand how badly you're losing right now. It's hilarious that it's 2019 and you still don't get it.
Jace Morris
Remember when the internet first came out to the public, there were hundreds of different websites and traffic was more or less spread out or "decentralized" in a way? Now look at the internet, most of the traffic is concentrated in a few huge websites, chainlink might go the same way..
Gavin Mitchell
Chainlink can already be centralized if you want and decentralized. Sergey says its all about how much your willing to pay for. If you just want a centralized node or 2 running Intel SGX then you can get it.
Julian Price
Doesn't change what I posted...besides it doesn't matter anyways. If chainlink succeeds, it will have such a huge entrenched network that it will take decades for it to go away.
It doesn't need to be centralized. You can have API runners directly input values/answers into a trustless smart contract based marketplace for API info running on a sidechain to ethereum. Smart contracts on ethereum can query this marketplace for answers regarding a specific API or an aggregate of multiple APIs when it comes to specific information and pay the price for the API call.
Data providers won't build their own networks. They will stream the API info on this imagined sidechain just like they currently send API info in the traditional way on the regular internet. Considering the API itself is also a point of failure when it comes to chainlink (which fetches from the API), it is at minimum as secure.
Brayden Nguyen
>would take decades for such an entrenched network to be supplanted I don’t know, tech moves faster and faster. BTC is only 10 years old and is about to be nothing but a relic of history.
William Gutierrez
Well, let's just say that link holders should have plenty of time to cash out.
Juan Rodriguez
You make good points...do you think chainlink has the potential to be worth triple digits in the high adoption phase?
Lucas Bell
Also btc didn't have a usecase that is as monumental as what chainlink is trying to achieve.
Hudson Wood
word. I just have 1K and not touching it until it’s value is equal at least to 100K link at 10usd.
Andrew Jones
>You make good points...do you think chainlink has the potential to be worth triple digits in the high adoption phase? Yes, at minimum. I would not be surprised if chainlink breaks the 4 digit barrier. Not surprised at all. Chainlink will be extremely important in the transition phase, which will likely last several years.
Noah Cooper
>which will likely last several years. More than enough time for me to cashout :)
Daniel Gonzalez
>Imagined side chain
Like moving Chainlink on chain?
Tyler Brown
>Like moving Chainlink on chain? No. It's making oracles unnecessary through creating an on-chain (or rather, on-side-chain) API economy.
Julian Perez
So they'd need a completely different framework to aggregate the inputs, or could it be like Link 2.0? I suppose they wouldn't need a token for that. But wouldn't Link still be useful for cross chain comms?
Daniel Perez
Man idgaf what happens I just want to be financially free, can chainlink help me get there? Yes? Great! I wouldn't care if they backed their tokens with literal dog shit, so long as the token reaches 1000$ per one day. If this does not happen I am probably going to literally rape sergey.
Yeh, that's why Link has tanked so badly moron. Fuck off with your fud.
William Moore
>So they'd need a completely different framework to aggregate the inputs Correct. Just that it would be automated and on-chain via code in a smart contract based API data marketplace instead of relying on game theoretically trusted-to-relay-correct-info actors (chainlink nodes). >or could it be like Link 2.0 I guess one could call it that due to the function it would provide, but doing so might confuse a lot of people because the structure would be very different.
