Most won't take the time to read this For those that do, enjoy
A while back there was a clip that cirulated where a bitcoin maximalist said something to the effect of "if someone were to solve the oracle problem, it would be worth more than all of crypto"
He then went on to give the standard counterargument that sybill attacks fundamentally prevent resolution of the oracle problem.
He was almost right
Here's the reality: in isolation without external factors this is correct. Put differently: if all of crypto was created de-novo and no data/api providers existed before the advent of chainlink, there would exist an equilibrium at which sybill attacks would be more profitable than delivering quality data or outputs. If this was the case, there are ways of breaking this state, but they involve exchange of value first in a non-deterministic manner and then using the experience from that to bootstrap an oracle network....
Fortunately, before crypto the world did exist. This led to trust systems being developed to reign in this situation (lawsuits, word-of-mouth reputation, the value of name recognition) in a world of non-deterministic interactions. For chainlink this is an absolute blessing.
The entwork will launch with actors providing APIs and data that are linked to their real-world names and practices. This means that even outside of the sybill equilibrium, there will be significant pressure to have high quality inputs and outputs. A bank can't expect to keep its good name if it makes a habit of screwing its smart contract customers while keeping good practices with its standard customers.
So what follows logically from this? The initial network has to tap into this entropy of trust left over from the non-deterministic world. In other words, it can't be decentralized initially unless the network wants to go through a growth period where bad behavior is actually game-theory optimal (with asymptotic approach to trustworthy behavior).
Human beings being what they are, such a period would sour people against the use of smart contracts if they could be scammed early on, even if they were safer than conventional alternatives...
Josiah Bennett
Yeah I fucking knew it dude, $1000 EOY. Glad you wrote it so I didn't have to.
Xavier Clark
Richard Hart said that. Yeeauuup.
Kayden Rivera
For an example of this look at common perception of bitcoin. It has provided 24/7 value transfer at discount rates since its launch 10 years ago. During that time billions have been transferred without loss. On top of that it has increased in value from less than a dollar to over a thousand dollars. Any stock, bond or precious metal that did that would be hailed as the greatest investment in the history of the world.
But human perception matters.
For that reason the chainlink network cannot launch decentralized and must launch with as much provider/node transparency as possible. This sets the floor for node behavior when the network does decentralize. Only though doing it this way will people, with all their flaws, see the value.
Put another way: the only way to successfully launch any oracle network is from the top down with respect to real-world trust. If you could launch a perfectly coded, perfectly transparent, perfectly decentralized oracle network right now you would still lose to chainlink. An oracle network must first have the buy in (and implicit pledge to perform) of those agencies with the most real world trust. The network which harvests these residual trust sources from the real world is the one that wins, and the one that wins is the de facto monopoly because those that can't harvest this resource must traverse the sybill period to launch...
Jacob Nelson
You are about to see an entire industry (the trust assurances industry) be swallowed whole by a decentralized network. The marginal value of all trust assurances services in the world (contracts lawyers, non-criminal courts, administrative workers etc.) will become the chainlink network. Those groups which don't make this transition will cease to exist. In 20 years it will be hard to imagine how the world functioned without such a network, just as it's hard to imagine a world without the internet now.
You're about to watch the whole world realize, slowly, this new reality. Remember that it takes hours and hours of dedication to get what I'm saying right now. Next year you'll just have to be a CEO/CTO level person to understand. The year after that, someone who is considered smart and cutting edge. You're about to witness all of this happen...
Colton White
Thank you for the explanation smartanon
Asher Bailey
At this point, there is nothing that can be done to stop it. Even if the whole chainlink team died, the cat is out of the bag. Once traditional trust assurers understand this, such a network can't not exist.
Be good and enjoy the ride frens
Charles Taylor
damnnn this is Bearish for LINK going to sell 45k now
Levi Morris
Checked
Daniel Powell
The devil's digits confirm. The ride gonna be fun. Appreciate the insight user.
Nathaniel James
trust is such an intangible thing, it's hard to wrap my brain around this stuff.
>grug have meat >krug have two shiny rock >krug want meat and willing to give shiny rock for grug meat >krug no trust grug >krug give long nose tribe second shiny rock to watch deal and make sure grug no cheat >krug give shiny rock and get meat
Can you guys imagine the day link tops $100 and this board is flooded with a thousand “I’m a millionaire” posts. No stinkers are literally going to be killing themselves, it’s going to be fucking crazy
buy some linkies, fren. i don't want you to be just another nolinkie suicide statistic...
Brody Watson
I'm holding a lot of LINK but I honestly don't expect it to moon just because the scenario you outlined doesn't seem possible. Biz can't actually make it.
Christian Rodriguez
Yeah but I'm unironicallt thinking this could take 7-8 years.
Kayden Robinson
>only 2 project developers >sergay eating millions in shareholder dollars hard pass
This scam has gone on long enough. It’s one thing to dupp retards on 4channel.org but when you “people” start trying to infect my beloved redddit I must come here and stop the insanity. Chainlink is a scam. Everything op has said is correct except it’s applicable to codius. A fat neck beard wearing s flannel isn’t going to outgun Brad Garlinghouse and David Schwartz. An actual bear Jew vs a fat Russian. Hmmm which would you pick to back at solving the oracle problem and getting the solution adopted. If you said the Russian, kill yourself. XRP is the saviour of crypto. Chainlink 0.0001 EOY. Get aboard the XRP train or stay sad and stay poor
Can you guys imagine the day link goes to zero and this board is flooded with a thousand "AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA" posts. Linkie stinkies are literally going to be killing themselves, it's going to be fucking crazy
There are people here that bought ETH at $4. The only thing stopping everyone from having become millionaires is they all sold when it hit $40-$70. Personally, I will not make that mistake again.
t. 110k stinkies
Juan Perez
The sanest of prophecies is unironically the most exciting. Still crashing to 20 cents before we pop off to over a buck by eoy and stabilize there for prob another half a year. By then Sergey will have absorped enough big macs to brap so loudly the entire financial market submits to the Alphamus Prime of the 4th industrial revolution.
Jose Turner
Underrated
Robert Harris
>mozaralle airdrop
Sides orbiting
Aaron Sanders
They dont conflict with each other, rather they synergize.
Michael Brooks
Whats your target?
Ive got 160k LINK. My make it number is $20 Million
Dylan Green
>Whats your target? I'm honestly not sure. If we're talking my dreams, I'll sell half at $100. No idea where it'll really get to, though. But I'm not selling really early this time.
I feel like at $100 id dump a large chunk too. what if a node is paying enough to live like a baller ? Like $15k- $20k per month? Im I deluded? Yes. Is this all possible? Yes.
I'd like 20M as well. It's going to be insanely difficult not to sell early if this stretches out for more than 2 or 3 years from now. I'll have to sell a good part of my stack to secure a few million between $100-300 but after that I'm going to just hold for as long as possible unless it totally plummets.
Lincoln Gonzalez
I'm with you, fren. Here's hoping to see you at the yacht party (speaking of shared delusions). Godspeed.
Henry Harris
I'm a brainlet, what does all of OP's rambling even mean? Bullish or bearish?
Gabriel Russell
Dude you just blew my fucking mind don't leave Can you tell sergey this shit What the fuck is this stupid website
Jacob Rodriguez
why the fuck every time i increase my stack people start posting they have 100k link?
t.36k linker
Levi Baker
I think a lot of people larp about it. But I genuinely have over 100k. It's the majority of my crypto holdings.
Cooper Morris
I think will go through another crypto bubble before LINK really starts gaining traction in the real world. We might hit a big valuation and it might make good sense to sell a lot of LINK when we're near the top, but once YOU and I start seeing smart contracts when we're signing mortgages or whatever, that's when you know we've really made it.
Liam Anderson
Keep grinding user. get your stack up. Youve got 2 more months at under a $1
Justin Cooper
based and grugpilled
Angel Morales
My high IQ tells me this is good stuff, you misspelled through though.
Yeah. Never forget that it's always better to be less rich than poor. Watch the charts and have a feel for market sentiment. Imagine those dudes who thought NEO was going to 500 and held from 150 all the way down to 8 bucks. I couldn't handle something like that. I'll be taking profits when it makes sense to. But I'll also hold a large portion of my stack for the long haul.
Joshua Flores
i belive you. i just have to wait longer till i can sell any
im a neet and am running out of money
Liam Carter
Get a job, user. You're gonna make it soon.. but you're not above working.
Noah Price
i need to im only qualified to dig ditches. I fell for the college is a meme meme
>hours and hours of dedication, CEO/CTO level,... lol user I got it immediately.
Lucas Barnes
There are still smart people on Jow Forums... Thanks OP
Oliver Campbell
Im drunk as fuck in an uber coming home from a house music show and im reading this and it makes me moist
Angel Morales
Question should i be buying eth or just link?
Adam Wright
Unironically the number u want to sell at is $400 thats what the time traveling DMT anons confirmed
Jack Jones
Selling no more than 10% is recommended at that point. I've been accessing the timeless knowledge for quite a while with the help of regular hemi-sync sessions. Consciousness really does reach beyond time and it really can be used for one's advantage. Every time I concentrate on seeing the future of Chainlink I'm hit with a massive amount of positive energy. Feels like the source is endless.
We might see prices of housands or even tens of thousands per one link token in less than 10 years. Will only take a couple of years for us to already be filthy rich. Be prepared my frens
