ITS FUNDAMENTALLY BASICALLY FLAWED

When staking goes live, LINK/USD price will fluctuate and destroy the whole system. Let's say a node stakes 100k LINK for a contract. In the meantime, LINK/USD price goes goes down and existing contracts now have less $ value in LINK. Now smart contracts can be given bad data without the contract creator being compensated the correct amount. Nobody will use your broken system linkies.

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Ds so 2017 fud make new one senpai

You’re right. I’ve been such a fool. I should never invested in a low cap coin. I should have invested in a high cap stable coin like xrp. Do you think if I renounce sergey Judy will take me back?

Haha we’ve discussed this like 3 years ago. Move along child

Its hilarious how much old FUD is circulated, its like living in the past but with more money.

You are experiencing the cycles of history rhyming in an accelerated fashion.

Even with basic understanding of LINK, what you're saying makes no sense.
>Now smart contracts can be given bad data without the contract creator being compensated the correct amount.
Yeah pretty sure the amount of LINK staked does not affect the data itself. No matter what, a staker has incentive to fulfill the correct smart contract or risk losing their staked LINK. Still, I can see what you're trying to say, but remember, in the system you are getting paid, as in your example, ETH, not USD. USD also technically "fluctuates" in value just as cryptocurrencies do, just inversely. Therefore, we are already living in a reality where a currency is volatile, yet we do not necessarily run into this sort of problem and things can operate normally.

Might be some kind of issue for really long term contracts, unless there's a mechanism to rebalance the amount of Link

Retarded FUD. Kys

you guys are so out of the loop

Hmmm I wonder how you could ensure that a USD based value is staked in a node dispute price fluctuation. It’s almost as if you would need a smart contract referencing the link/usd price feed with automatic buys and sells to rebalance the number of link staked to maintain the contract value.

The irony here is the issue your raise is a concern but for the exact opposite reason. If link starts mooning based on collateral requirements for smart contracts, the nodes will create selling pressure themselves as they rebalance their collateral to factor in the link price increase.

I still expect link to rise over time, but I never hear anyone mention this sell pressure when referencing how staking will drive price increases

Can anyone dispute this?

Answer me cowards

You will likely remain undisputed. Great post. You’ll probably get some faggot saying “you had 3 years”.

This board is full of gaslit cult faggots and shills for this useless shittoken. The vast majority of them have no idea what it even is or how it will be implemented.

They always go silent when presented a decent challenge

>automatic buys and sells to rebalance the number of link staked to maintain the contract value.
And what happens if the node operator doesn't have enough USD/LINK to perform a buy/sell? What then stinky?

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you had 3 years

> what is over-collateralization to mitigate risk?

The nodes will just take the Chainlink they are "saving" and put it in new contracts. Demand is infinite, competition is infinite, there is no ceiling.

you had 3 years

Atta boy

I guarantee I own more link than you.

I’m not disputing there is upside with link, But anyone thinking they are making it with less than 10,000 is dreaming.

And in a black swan event or in early stages of the network when there is no contracts available to be serviced, the nodes will just sell and fuck up the entire network and your token goes to ZERO. Sorry stinky.

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The entire worlds of blockchain and legacy get funnelled through Chainlink. It's the cinch point, the toll road between the entire global financial infrastructure and the new world of decentralised platforms.
People with 100 LINK will make it. $81k is FUD.

Ok in that scenario you are still reducing buying pressure as they don’t have to buy to fund the next contract.

Theoretically if the link team grants KYC node operators enough link to to meet initial collateral requirements for the network, they will never have to buy another link as they just reallocate link to new contracts as link price rises.

sign your wallet with 15k LINK and then ill sign mine and mog your fucking face off, faggot.

Until demand outpaces supply which which happen when the entire global economic architecture is being settled on blockchains through Chainlink nodes.

The amount of Link on a node is also part of the reputation system.
Even if you don't use all your stack for contracts you can get the best contracts with a higher reputation.

>be dapp dev
>need offchain api data every 5 mins for smart contract
>could whip out an oracle in an afternoon and half a pot of coffee
>instead I will pay tens of thousands of dollars every 5 mins to incel basementdwelling neckbeards to use their json parser

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Exactly. We're all gonna make it.

Never denied increasing demand, my point is node operators will create sell pressure offsetting some demand increase.

I still expect price to go up, but this should be considered as a limiting factor in its rise