Staking will be officially announced on August 28th

Dear trannies
Please kill yourselves
Sincerely, normal human being

Lol new fags getting fed by nice marines

>celebrate our incredible community
what did they mean by this?

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here's the redpill folks:
THERE
WILL
NEVER
BE
STAKING
the github is literally a ghosttown full of nonsense code. anyone with a compsci background- go look for yourselves. it's all bullshit. there is nothing developed for staking whatsoever. the company is worth $4 billion dollars and they haven't done any work on staking whatsoever. they've gotten a few decentralized oracles to work on gold and the australian dollar to work. wow. congrats..that took $4 billion dollars? literally just go look at the github

I'm actually more qualified to talk about this than most anons. I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.

Now I can already hear your keyboards going frantic, but hear me out. Zig Forums hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.

'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have reputation, but in real life not on a computer screen.

The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. But this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.

have sex incel

0% chance

delete this dude

Delete

>went from huge event to a virtual zoom meeting

shit sucks

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>t. Closet tranny

>SmartCon
>smart con
I knew this was a scam! Glad I sold at 3.80. Have fun getting dumped on.

Yeah I did not say August

>two more weeks

Imagine you are a defi protocol using the Chainlink reference data. Currently you're probably only paying 5% of the real costs, with chainlink incentive wallet covering for most of it.

The current model is satisfying enough for your end security, and staked collateral wasn't designed for your type of high volume but low value usage. But you're the only users.

The Chainlink team however insists to introduce the feature, and since customers aren't willing to pay extra for what is essentially an extra feature they do not need, they decide to cover the expenses themselves once again through the incentive wallet.

Staked collateral was designed for low volume but high value smart contracts for the enterprise and traditional finance industries, for which there is no demand and interest. Similarly, the service agreements have seen zero usage in one year. There is no direct customer usage, only indirect through the reference model of shared expenses, what you could call the public good model.

The public good model being their only used oracles as of now, now ask yourself how would staking work in this scenario?

The average node call price is 0.16 LINK. 1 dollar per node per call. Now let's be optimistic and say each node is covering 100 jobs, which is still far from the case. The total value required to be staked in each node would be 100 dollars at best. Right now it's more like 10 jobs per node so it would be 10 dollars. This is the current real value of the chainlink network. 10 dollars! It's way over valued at 2 billions. This is pretty basic maths and cannot be refuted.

And you delusional cultists think everyone will be able to stake 2 billions usd worth of tokens to generate 5-10% returns. To cover 10 dollars worth of calls! And who's gonna pay for it?

Releasing the staking mechanism would actually be disastrous for the link price, as the market would quickly remark its completely pointless and no one wants to use it.

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I used to wonder that myself. Thought it was a bunch of mumbo-jumbo-magical power staking together collectibles, insurances, derivatives, random numbers, real assets, data feeds and China. Crazy thing is, it's true. The Singularity, the burgers, all of it. It's all true.

Are you legit retarded?

psht it's like this retard doesn't even know about 42 and the quantum AI that shitposts esoteric memes on Mongolian yak milk cheesemaking imageboards

bullish for LINK

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That's a lot of words you just typed.
You could've just posted "I'm stupid" and conveyed the exact same message.

Chainlink itself is currently the sole contract operator. Chainlink guarantees the performance of the contracts.
After staking, contract operators will be whoever wants a certain product.
At this point, the node operators will have to guarantee the performance of their node, meaning contract operators/users will want staked guarantees up front.

Currently, Chainlink handles hundreds of millions of USD per day, so the required staking amount would be a good proportion of that. Every day.

And that's just under the current conditions, in the Defi kiddie pool.
Chainlink has its sights set on things like derivatives.

A sneak peak at the collateral for the OTC derivatives market.
>CTRL +F "Chainlink" 0 results

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