Hello newfriends, this morning I am feeling exceptionally decent and I am offering you a gift.
Full-on, thorough spoonfeeding about LINK.
Feel free to leave any questions you have regarding FUD about LINK, reasons you believe it might fail, reasons you believe it isn't actually /that/ important, etc.
I will spoonfeed you the answers to your questions this morning. Consider it my one good deed for 2020.
Other urls found in this thread:
blog.chain.link
twitter.com
A small background about me, been on biz since early 2017, bought LINK on etherdelta directly after the ICO
Why didn't I buy at ICO? Well my friend, the LINK ICO was special and had a pooled setup which, at the time, seemed really weird and sketchy to me. Anons were shilling their pools and I was too stupid to understand why this ICO was behaving different than any other ICO I had ever seen.
Needless to say, I read through the whitepaper, did my due diligence on the oracle problem, and here I am. With 50k LINK 3 years later.
>2017
>Calling others newfags
While I may not be an oldfag, I am assuredly not a newfag, friend.
Been on Zig Forums for the last 10 years, from Zig Forums to Zig Forums to ultimately /bizfit/. Best transition I ever made was leaving the cesspool of Zig Forums. I would wager that at least 75% of people browsing Zig Forums today came after me.
bonus points if there is a single person in this thread that can tell me what coin the pic in this post was connecting to in biz lore
A general statement about cryptocurrency for those who aren't convinced of its viability in general.
Nobody on Zig Forums cares about cryptocurrency becoming a "legitimate form of currency".
This means nothing to anyone with at least 6 digits in the game.
The single reason that anyone here invests in cryptocurrency with more than lunch money is because smart contracts will eventually increase profit margins for industries around the world.
This is one of the largest misconceptions I see in people new to cryptocurrency. Let me say that again, nobody here with real money in the game cares about cryptocurrency becoming a viable alternative to fiat currency It means nothing to us.
The reason we invest is because smart contracts will increase profit margins for industries.
I visited Zig Forums for the first time in sept 2017. The board exploded with like 10x the traffic after that. Being a slightly older newfag in those days was the shit. Too bad I went all in LINK and barely caught the biggest crypto bull in history. Also dodged the bear though, so can't complain.
What made you buy LINK, OP?
don't forget the annual sergey dump trunk, last year it made multiple deliveries of 700k stinkies to binance starting in late june (at the top of course)
he also has another 600 or so million primed and ready to go
OMG
McDonald meme
Are you only holding LINK? Do you think 1000$ is unironically possible?
Ignore that. I was looking at the Asian guy in the wrong post
bancor girl shilling campuscoin (which I bought at cryptopia btw).
BANCOR IS LITERALLY UNSTOPPABLE.
>Too bad I went all in LINK and barely caught the biggest crypto bull in history.
Holding LINK during the previous 2017-18 bull run was admittedly painful. I would be lying if I said my confidence did not waver during these times. Fortunately, I also played around with funny money on a few projects and caught some of the largest % gains of my entire life. Some notable ones were Antshares, TRX, and ZRX. I own 0 of those 3 coins now.
>What made you buy LINK, OP?
I took the smart contract pill.
This is the tl;dr of what could be an extremely lengthy response.
I have always been, and still am very skeptical of the "cryptocurrency will become a viable global currency" meme. I think it's a pipe dream at best. I see the advantages, but the powerful entities of earth will likely stifle this from ever becoming a reality.
On the other hand, when I finally understood the advantages of smart contracts as it relates to various industries around the world, it grabbed my attention more than any other psuedoanalysis about cryptocurrency I had ever seen.
After taking the smart contract pill I basically went all in on the leading smart contract facilitators in the crypto space. For me this was ETH and LINK.
Why invest in ETH?
I am not only holding LINK.
Not going to bother saying what other coins I hold, because they're long shots at best and quite literally 85% of my portfolio is LINK , about 10% is ETH and the last 5% is the aforementioned coins.
I do unironically think $1000 is possible, but not EOY 2020 or even 2021. If smart contracts take off and start to make every single industry who utilizes them more money, it will spread like wildfire. And LINK will be the unseen/unknown goliath at the center of it all.
This is of course only possible if/when staking is finally released and nodes must start stacking collateral for high value contracts.
cheers, friend. Honestly thought Bancor was kill after 2017, but they've done a surprisingly decent job of staying relevant. Hoping they do well because all the jew memes were hilarious
It is my personal opinion that ETH will ultimately be the king of all smart contract platforms. Due to the network effect and first mover advantage. This is cemented by the fact that ETH has an incredibly larger pool of developers working on it to improve it, and develop various applications on it as compared to any other smart contract platform that currently exists.
Like I said in the previous post, im 85% LINK and only about 10% ETH, even if ETH isn't the industry standard platform, my bases are covered because LINK is blockchain agnostic. But I do truly believe that ETH will be the platform that most industries go for, especially with baseline protocol being recently announced.
But I thought Arbitrum made ETH useless?
thoughts on BNT?
Alright thanks for the reply
trumpcoin
Biz was absolutely dead in January 2017. Most threads were about drop-shipping or crappy gains stocks with one crypto thread here and there. The traffic literally went 10x in 2017 there is NO WAY most people here visited biz before 2017
Arbitrum certainly reduces the fees that one could expect if smart contracts became widely adopted, but it will still need to post certain results on chain.
While it does indeed reduce the gas fees for operating with smart contracts, and this would lead one to believe it reduces the profitability of smart contracts for people like us, it is a solution that was always going to exist.
It only makes working with smart contracts more desirable, as you can do all of the heavy lifting off chain and reduce the amount you pay to interact with this technology. I don't know how successful Artbitrum will be, but even if it consumes the majority of the market and takes computation off chain, my bases are covered because it utilizes LINK in its core functionality.
>feeding
>the marines
Eth cant scale, cryptokitties says wassup. Its coding language is also dogshit, it cannot be mass adopted, it will be replaced.
2010 is newfag, newfag
All the groups that come after cancer are also cancer.
Bump!!
Any thoughts on how LINK will perform with other projects developing oracle projects and entering the game?
can you provide a use cases for VRF that make it an attractive offering as well as any synergies with other features/crypto
the only thing that is worrying about link is the wallet distribution, and i mean sergey having 65% of it. Do you know the reason for that? im buying nonetheless cuz meme magicks and shieeet.
Similar to my stance on ETH, i think chainlink will continue to be the undisputed Oracle leader because of network effect and first mover advantage. it has enough integrations at this point that any flaws or use-cases that could be found, will be found.
I could, but i think chainlink does a good job of doing that themselves in this article: blog.chain.link
I understand that it has been stated the reason LINK team owns 65% of the supply is to onboard enterprise customers down the road, this has been what theyve said since the ICO
Please explain to me why the total supply won't be in circulation? And why will this value increase beyond where we are at?
If you want to see an example of a staked coin supply look at tezos 85% is staked where they generate passive income. You’ll have fluctuating supplies, if node operator is bad and we get our links from other nodes those will end up on the market, bought again buy node operators to stake as they try to expand their smart contracts and usage.
the total supply will be in circulation eventually, if you're referring to the 65% that isn't right now
as this user said the general idea is that for staking coins, an extremely large amount is locked in staking to generate passive income
so despite another 650m tokens eventually being out in free trade, it is extremely likely that the vast majority of all tokens will be staked for passive income instead of traded.
are you worried about the biweekly 500K sales?
Definite buy and hold.
Used to onboard new node operators and various capital financing need.