>team owns 70% of the total supply
>team dumps large amounts of their tokens regularly
They’re just using this thing to make themselves rich and leave us poor. How is that not a scam?
Team owns 70% of the total supply
Yes sirs it's a scam sirs.
Never forget
>2 man dev team
>1 philosophy major
why are you still fudding retard, buy
Can’t you answer the question?
It wouldn't be a scam if they actually delivered something, but it's starting to look really bad.
cope
At the time of writing, Link is up 40% in last 3 months, and 155% in the last 6 months.
How is this a scam?
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. Only, this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.
The biz relationship with link is over for this exact reason. Keep some if you must take a profit and move on. We can’t let them be like this and we still support them.
the chainlink team is Sergey and maybe 5 other dudes? do they even program beyond altering a few erc20 parameters 3 years ago? i mean why would they, when they can just dump 600k every fortnight and stay ballin on the low.
how are 6 nobodies gonna create an interoperable oracle that if anything goes wrong with false data being fed in (which will happen) will lose people billions.