re: Official CryptoTalk Thread

mega shitcoin > Made a killing when it went to $3. Sold and never bought back.

What’s your favorite coin?

How early? I need to know what price you bought in and how many shares to prove your credibility and crypto net worth?

Really bro? Why do need to tell you that. Look through this thread youll find your answer I posted it way back , way way back. It wasnt early enough but itll have to drop below 1400 for me to be in the red . Lol

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How early? I need to know what price you bought in and how many shares to prove your credibility and crypto net worth?

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Is this the reason no one listens to me about Link??

I’m listening, I bought another 500 shares today. I’m up to 3100 shares. I had to mortgage my house and the wife isn’t too happy right now.

Link as a technology is great

Link as a token serves no purpose, much like every other crypto project

I've yet to hear a real-world application for carrying a digital wallet full of Link, or Vechain, or pretty much any other coin besides BTC

They all have an application that makes total sense, but few have an explanation for why John Q Public should hold a substantial number of these "coins", other than treating them almost like shares of stock in a traditional company.

The problem is they aren't shares.. Chainlink owes you nothing as a link-holder... and maybe you could tell me what real world application the Link token - not the blockchain tech - will solve?

Jesus Christ I’ve gone over this . I’ll make a good post when I get going this morning explains the tokenomics once again

Eh this guy already did the work

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The tokenomics of the LINK token. 1. Chainlink nodes will be paid in LINK tokens only. There will be conversion tools for people that want to use fiat but will be converted to LINK. at the end of the day only LINK tokens can power the network since the nature of ERC-677 token, built specifically for LINK, is to transfer data. 2. LINK tokens are used as collateral value. Smartcontracts will use Chainlink nodes that carry a % value of LINK to the value of the Smartcontract. So yes, you can start a node without LINK but no one will use it. High value smartcontracts or any contract that has value will use nodes that carry the same or a % of value of LINK. 3. Decentralized networks that are home to smartcontracts will need decentralized data to execute. Chainlink is currently the only option. Thats why you will see everyone in this space partner with Chainlink Smart contract creators will demand a certain level of reputation or amount of collateral, to be paid in LINK tokens, that suits the value of their smart contract. A $1million bond would require a lot more collateral, than, say a smart contract dealing with $100. You wouldn't select the low rep/low collateral available nodes for something like a huge bond. Chainlink is actually targeting these high value contracts. Sergey has discussed at length why high value contracts in the financial world require a decentralized oracle: it puts all the risk onto the oracle rather than the smart contract creator. The smart contract creator doesn't risk losing money - the node operators do. The Chainlink network is genius like that. There is infinite amount of collateral available because the token price can rise to meet it. Now you have to research how large ALL these markets are. derivatives, insurance etc... hint: Trillions. The purpose of Chainlink is a network that incentives truthful data provided by individuals running LINK nodes (aka known as mining 2.0) while also providing compensation to smartcontracts just in case false data was used to trigger an agreement. So the price will rise not only to meet the insured needs of smartcontracts but also because the LINK node miners are making money providing this service much like the price of BTC. (there are about 3 main factors that make the price rise one of them from mining and difficulty) Its very simple. The more LINK staked in the nodes, the more profit one can make running that node. The more LINK staked in the nodes the bigger the smartcontract economy can become. The more LINK staked in the nodes the more stable the network/connectivity becomes. Finally The more LINK staked in nodes the higher the price becomes. We are witnessing something really special. The birth of the HTTP equivalent in Crypto. The only comparable investment to LINK is when BTC or ETH first came about. Decentralized digital currency, Decentralized smartcontracts and now Decentralized oracle network. This trifecta will lead us into the next economic boom.

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It has nothing to do with using tokens to buy Starbucks it’s about building the decentralized network and that technology requires a token to transfer the data.

The conspiracy theory is that this whole network was requested by the Swift’s and Microsoft’s. The private crowd sale sold out in minutes and the public one had very few tokens left to sell which also sold out very quickly. So why a token or crowd sale? Not fight the securities laws and give the appearance of being decentralized.