I just realized

If your running smart contracts what's going to be the most expensive component? I would expect an oracle to be more expensive than the gas for the smart contract. What this means, if I'm correct, Link should have a greater market cap than Eth.

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Even if we go sideways for the rest of year, with mainnet coming this year, that means link should be at least $40 end of year

People still see Chainlink as co-dependant with Ethereum network. Chainlink is a network of decentralized oracles that use Ethereum as a means of writing in blockchain-hosted smartcontracts.

The market cap of Chainlink will be big, but maybe not as big as Ethereum's since people will still need to pay gas to interact with Ethereum's smartcontracts (and that's not a bad thing). Chainlink will unironically trigger the next bull run.

It's amazing if you really sit down and think about it in depth. The average normie will be blindsided by the singularity. I see it everyday. I'm just your average wagecuck. I interact with the public on a daily basis and I talk to hundreds if not thousands of random Joes every week. How many do you think even know what a smart contract is? On top of that, how many have the foresight, the knowledge, and the sheer balls to not just invest lunch money but to go all fucking in on the fourth industrial revolution?
I did an experiment one time. For one shift I asked every other customer casually if they had heard of bitcoin or cryptocurrency. Most said yeah, they wish they bought in years ago. Then I asked if they had heard of Chainlink. Literally 0 out of 115 people I talked to had a clue. Crazy, right? Here I'm sitting on a fucking 75k bag and these poor pricks barely know how to log into Coinbase.
So yeah, I fake a smile and ask them how they're doing today. But I don't give a shit. I just have to keep up appearances so my boss doesn't shitcan me pre singularity.
I can't wait to see the look on my coworkers faces when they find out I'm leaving. They recommend you give 2 weeks notice so you don't burn any bridges. Fuck that. I can afford to rebuild any bridge I want. I own chainlink, mother fucker..

With the Celer partnership, ETH now exists for the sole purpose of transferring LINK tokens.

This is what I have thought for a while. Chainlink will eclipse all other uses of ETH

>maybe not as big as Ethereum's
thanks for the laughs, I appreciate it

Did nobody listen ETHDenver panel which Sergey attended?

"Oraclize" platform has run into problems for their customers who feel that even 5cents for Oracle service is way too much money considering the worth of data provided

Chainlink oracle data is even "heavier" than that provided by Oraclize with added security factor etc. which makes it fundamentally even pricier

You really think customers who use oracles are willing to pay for that considering that at the moment even 5cents is felt unreasonable? Nobody worried about this?

Stop fud sir

If he's talking about DDAPS yeah that's a lot, but for derivatives etc, people will pay a lot more

Wasnt oraclize 1c per call?

If Chainlink moons, it will mean adoption of smartcontracts. Ethereum is the main platform for that. Therefore both will moon

oraclize is a piece of shit

yea nobody answered that question here till today

>link $1k EOY
>be dApp dev
>need some external API data every 5 minutes for dApp
>could write an oracle in an afternoon
>instead im gonna pay tens of thousands of dollars every 5 minutes to pay some neckbeard basement dweller to use his json parser

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You can get unlimited API calls for 15 bucks a month from other providers today.

You don’t get it.
Decentralized oracles and smart contracts are not going to completely take over every method of centralized data bases.
But there are areas where they will help immensely with security. One off the top of my head is settlement fail which accounts for hundreds of billions of lost capitol a year(dare I say trillions?).
So even 5cents for an oracle service might seem expensive per call when compared to exsisting systems, the customer will be paying for the added security, which is really the only advantage a decentralized network has.

dude with recent relevations CL could very well be the scaling solution for eth itself

This. No one even bothered to try to use smart contracts with a piece of shit like Oraclize because the security wasn't good enough for it ever to be taken seriously with a lot of money on the line. That's about to change with LINK.

The security standards for automation, which is what smart contracts are, is going to have to be so much higher than today, especially when money and sensitive information is on the line. But the savings from using smart contracts will still net huge savings despite the slight premium in security.

>(and that's not a bad thing)
here's why

Don’t forget that XRP’s entire usecase is contained within Chainlink. Chainlink will take over that market cap given enough time. It will unironically be #2 behind Bitcoin