TransferAndCall

I assume it's mostly just the price feed heartbeats

price feeds oracle requests. chainlink is the crypto that pays the most gas on eth.
this is fucking amazing knowing that usage can only go up from here

*yaaaaaaaaaawn*

Funny how yawning is contagious. Man I'm so tired... aren't you guys too? Going to tuck in and have a nap.

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>chainlink is the crypto that pays the most gas on eth.
this metric will be useless after they have threshold signatures working

>it's a scam because it works exactly as they said it would and all parties benefit

Holy shit, that means Chainlink has more functionality than speculation.

> transfer and call
> Literally just another erc20 placeholder scam

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> it's a scam because it's Sergey providing the linkies for free

ftfy

You mean an erc 677.

>it's Sergey providing the linkies for free
>for free
Nope, see pic.
Users have to pay to use Chainlink.

Also, Sergey is the contract operator, and contract operators are supposed to provide the linkies as payment.

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So the price is actually increasing with the number of transfers?

Who are they paying though? Sergey or the node operators? I didn't think payments were expected to start until staking is introduced. What is the purpose of the token at this point if they can just pay for the oracle service?

That chart shows all transfers.
At one point Chainlink trading volume exceeded that of Bitcoin, not even ETH ever managed to do that.

Vitalik the CEO of the Central Ethereum Committee downgraded LINK from ERC 677 to ERC20 don't forget that.
Vitalik has the power and doesn't eat burgers. Just let that sink in

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Thank you for confirming that Sergey is indeed making the payments

Sergey controls the printer that goes bbbbrrrrr. Giving pajeets monopoly money to run a certified botnet is not "making payments"

The users pay Sergey, the contract operator.
Sergey pays the node operators.

The Link for the node operators comes from the 500k "dumps" from the dev stash.

Sergey owns the restaurant, he has to pay the cooks and waiters.

Users want to eat, so they have to pay Sergey.

Only approvals? So no real live examples of how it works and what happens on a disapproval yet?

Wow an analogy that assumes the restaurant is a closed system disconnected from the larger world.
In reality the restaurant is closed due to corona virus and Sergey has to whore himself out the back in a homemade glory hole to make ends meat. The users are now coomers and the waitresses were sacked long ago. It's just a one man sucking machine.

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>Wow an analogy that assumes the restaurant is a closed system disconnected from the larger world.
Chainlink contracts are closed systems.
The contracting parties, terms, purpose, outcome, ... are all specific to the individual contracts.

The link run is over I'll have to decide later today if I will take my loose and just sell off what I have

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Then you're right user, it doesn't matter what is transacted within a closed system as long as tards believe it has value. No wonder the schizos love link tokens: belief underpins clown world Sergey Bucks.

Then what? The node operators have to sell the link on exchanges to transfer it into USD? Or does sergey buy it back OTC?

What's a contract operator 's job, besides writing the script? Does he keep a part of the fees?

"Yes you guys should enjoy this layer of decentralization we've given you but btw trust this one guy to pay out that layer for you"

>it doesn't matter what is transacted within a closed system
haha k bro

They can do whatever they want with them.
For now holding is by far most profitable.

The point would be to make money.

Right now Sergey is running the contracts for Aave, Synthetix, ... but once the network matures then parties like Aave or Synthetix could be running their own contracts and paying the nodes themselves.
Or not, depending on what works best.

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That's what being a contract operators is about lol.

The contracts aren't decentralized, they are whatever the contract operator wants them to be.

Oh come on, this is no crazier than a festival where you have to exchange your dollars for little festival coins and you can only use those coins for buying the drinks. You’re all “guess what your little tokens have no real value!” failing to realize they are essentially just theater tickets sold to people who want to enter the theater. In this case people want access to reliable data streams for their smart contracts, and buy tickets for that. It’s not hard.

> and what will the miners do with the bitcoin, will Satoshi Nakamoto buy it back OTC from them?

lmao

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From reading that, the part about not using eth because the volatility of the asset may not work in their favour, how is this affected by link currently being very volatile? do they expect link to eventually be a form of stable coin? or how would they control the volatility to only act in their favour?