Pic related is the reputation.link reported LINK earned and spent on transaction fees by LINK nodes over the last 7 days.
Correct me if I'm wrong, but this puts operating a LINK node at a net negative e.g. there is no money to be made given the enormous ETH costs. Or do node operators not pay the transaction fee costs?
Other things worth discussing: Amount secured has dipped from a peak of ~3.3B to now 2.5B. Most of that was drained from Synthetix. Though, since July still impressive gains have been made in the total value secured which looks like it's largely coming from Aave/yield farming.
Does the $2.5B secured require like-amount collateral? Anyone know how the collateral required to keep that amount secured works?
Linkers are actually mentally ill. I remember a few weeks ago they were telling me they could live off their staking interest because they invested a few grand into digital tokens with no use case. Hilarious
Grayson Cooper
>Correct me if I'm wrong, but this puts operating a LINK node at a net negative e.g. there is no money to be made given the enormous ETH costs. Or do node operators not pay the transaction fee costs? Chances are, Chainlink (the team) is subsidizing the node operator's costs to deal with high gas costs until offchain executions come into play.
Andrew Rivera
chances are you made this up
Carson Foster
That's what I was thinking too. It's not like they're getting battered but there's no incentive to run a node if it costs money meaning until 2nd layer solutions come such as Arbitrum it's unlikely that very large contracts will start to be handled. If fee scaling can't be dealt with they'll need to move chains. Guess we should know by EOY either way.
Ryan Young
why dude.. it's a meme that really does nothing interesting. if you didn't get rich off it already you won't. move on. fantom is next like it or not unless it totally breaks.
Asher Davis
Congrats user, you discovered reason of recent dumps. Ethereum fees will continue increasing due to Defi pyramids.
Jayden Young
Source: my hopes and dreams
Nolan Robinson
These threads are fucking stupid. It's like when Ford is trialling his first Model T and people are saying "I don't think I should buy Ford stock there's only one car, I don't see how the public could travel around in only one car".
It's a brand new network being built out from nothing and scaled extremely conservatively to avoid sybil attacks. Any metric now, or in the next 12 months, is meaningless bullshit. We're talking about automating global value exchange, who gives a shit about the metrics of its baby stages.
Thomas Rogers
The Model T was the first line produced motor vehicle; the first of its kind. ChainLink is an ERC20 token made by a fat autist that exists solely to fetch price information. In short, your comparison falls flat and you are a massive retard that’s going to rope when Link hits $4.50 and crabs there forever.
Nicholas Price
I've been ignoring better fudders than you for 3 years and I've made a fuckton of money. Cope you miserable fuck.
Ayden Lee
Doesn't the nature of the link token give it native interoperability with the xDai chain?
Is there any gas solution in the works that can take advantage of that?
Brandon Young
Mainnet has been live a year now
Asher Morris
Thomas said recently that threshold signatures will be released within the year.
Ian Cox
Exactly. Come back in 5 years when global derivatives are being run through Chainlink, then let's look at metrics.
Jason Gutierrez
Want a serious discussion? we went 200X ICO in 3 years. TWO HUNDRED TIMES. if you didn't sell that's on you. I'm gettin' 2017 vibes.
LOKI is all I will hold now.
Charles Diaz
cringe get fucked linkers
Aiden Edwards
This, i think it is still a waiting game
William Ramirez
I think market.link/metrics puts things in a different, more detailed perspective. It also shows a different amount earned over the past 7 days which I believe to be more reliable, as it calculates from individual node operators. However I definitely think awards are propped up and/or subsidized right now to keep node operators profitable while we wait for a cheaper gas fee solution.
Juan Gray
checking out some of the payments made in etherscan Chainlink increased payments to accommodate gas fee prices so that node operators were still in the green. Arbitrum should scale ETH and uniswap and node operators will contribute to this network by fulfilling rollup requests and in return arbitrum gets access to the Chainlink network. Arbitrum has no token so it's all paid for with LINK. Thomas did say this during the ama too but as always they never stick to specific timelines if they need to audit/debug Right now though it's just a light mainnet handling price data but remember chainlink is designed to handle all types of data but they haven't built the infrastructure to handle this yet. Price data can still allow for derivatives to function (futures, forwards, swaps, etc.) Its strange that pmg bros haven't jumped at the opportunity to use the gold and silver price feeds for defi products
Jayden Sanchez
This is exactly what is happening. Sergey even announced it in a blog post last year.
Christopher Ramirez
Warned you faggots at $17. Feels great shorting this overvalued shitcoin lmao.
Gotta applaud for Sergey and that 2nd fag though who live in their >10M mansions and dump 500k LINK each week on you stupid plebs.
Fact is this shit is hilariously overvalued.
Also the cycle will repeat. Link will not do well at all when the actual bull run mania is here. It will be a shitty performer just like last time.
Stay poor holding link stinky fags haha
Jack Phillips
Post the trade? Can't? Figured as much lmao
Robert Bailey
>this is how profitable LINK is >but thanks to a garbage L1 solution it is no longer profitable. The reason every ETH token isn't doing as well as it could be is because of ETH. LINK, RARI, PNK, etc. All of these coins are ruined because of fucking vitalik which is why there is a huge drive to kill off ETH.
Hudson Murphy
cope more loser, im up 50x and never selling
Gabriel Kelly
50x? And you in from 2017? So bad lmao.
Imagine being this much of a loser. You must be the 110-120 typica linklet being outperformed by
Nathaniel Lewis
Thomas said in the latest AMA the gas costs rising were causing a lot of trouble over at the chainlink labs treasury, the executive team had to make the decision to scale back their plans and as such the nodes will simply cease to operate until further notice and redundant personnel has been let go to recoup losses, with all focus from now on being redirected to developing the new website front-end, since they fired the main artistic designer Thomas has been tasked with the newer designs too but he has to learn php from scratch so that means he won't be able to finish staking contracts any time soon, it's all outlined in the github repos.
Imagine still holding anything over a $50M cap in this market.
Nectar is all you should be looking at.
Isaac Moore
>total earned: 33k >total fees: 1k
>"guyze nodes are paying more fees than they earn"
Are you ok user?
Lucas Morris
Ask yourself this, why are the fudders so desperately and putting so much effort for you to sell? If they are trying to give genuine advice why are they calling you an idiot and pretend to laugh at you? These assholes just want the price to go down to get more, if they had really sold they wouldn't be on these threads at all.
Julian Hill
>Does the $2.5B secured require like-amount collateral? Not necessarily. Collateral will likely be a portion of the actual contract amount.
But the total amount secured does reflect the total value supported by the network.
Christian Morris
>The Model T was the first line produced motor vehicle; the first of its kind. Just like Chainlink is the first decentralized oracle network, the first of its kind.
>ChainLink is an ERC20 token And the Model T is just a four-wheeled vehicle.
Kayden Jackson
aapako $ 17 par aagajanee karane kee chetaavanee dee. is atipravaahit shitchoin laamo kee kamee mahasoos hotee hai.
sergeee ke lie taaliyaan bajaana aur vah doosara kohara, jo unake> 10 em havelee mein rahate hain aur har haphte 500k link ko bevakooph banaate hain.
tathy yah hai ki yah praphullit karane vaala hai.
saath hee chakr bhee doharaega. jab vaastavik bail ran unmaad yahaan hai to link bilkul bhee achchha nahin karega. yah pichhalee baar kee tarah hee ek chamakadaar kalaakaar hoga.
bechaaree holding link badaboodaar haig haaha rahen
