This thread is the dedicated high iq link token discussion thread.Fuddies or xrp bagholders may reply, but to do so is an admission that they are obsessed fetishists who have been driven mad by their own heavy bags.Thread question: What would cause the link token to increase in value and how likely is that to happen?
everyone hates you stupid dumb pathetic dumb stinks
>>62346445TNN + the cuckolds of crypto
>>62346445If Chainlink is decentralized then why don't the biggest stinkiest linkbaggies brag about running a node?Ive got a pretty high IQ, but I still can't figure out the answer to this conundrum.
>>62346451>>62346459>>623464713 fud posts in less than 10 minutes.Nothing scares the fuddies more than the prospect of an actual discussion around link.If there are no link threads to attack or spam, fuddies will create dozens of fud posts, filled with fetishist and degenerate imagery and in many cases, tranny anime avatar posts
ohhh stinkiesit's your favorite numbeeerrrr lmao
>>62346506clarity act will likely pave the way for staking. The original tokenomics revolved around most of the supply being locked up in nodes
>>62346506>>62346515you're a bunch of deranged cuckolds holding a rugged 2017 shitcoin. KEK BAGGIES
>>62346515It might, but tokens won't be completely distributed until 2030. So a follow up question might be does staking come about before then or do we need to wait until after 2030 for supply shock from all tokens being distributed, systems going live and presumably clearer legalities around crypto.
>>62346530I don't think everything needs to be in circulation before the next version is released. My guess is they're currently subsidizing nodes and payments out of the dev wallets until legal clarity on rewards is finished
>>62346445>What would cause the link token to increase in value and how likely is that to happen?PAL
>>62346515>pave the way for stakingthere is no way to decentralize the slashing mechanism for anything meaningful. staking as currently implemented only checks for uptime, because it is impossible to check for accuracy
>>62346560If they're subsidizing nodes why aren't you running your own to get the free money? It's decentralized right?
>>62346530>>62346560awww isn't that cute the stinkies are trying to have a conversation flood the thread, boys
i only exclusively buy scams that are down YoY that haven't seen a green day in almost a decade>imagine pitching this to a hedge fund, investment firm, or a normal every day person with $100 dollar of disposable income and telling them with a straight face THIS is a rock solid investment
>>62346576Pal?>>62346577So what's needed to make it meaningful? Aside from group consensus, how else could you get the "true" answer?An unbiased ai?
>>62346610Payment abstraction layer
>>62346445Let me make two points. The first is the fundamental mechanics of how the LINK token can (and must) appreciate in value. The second relates to the man in your image, Mr Schmidt.1. The LINK token will appreciate in value when a few things happen:a) The Clarity Act passes and provides a legal framework for Cayman Island-registered nail salons who wish to do business in the United States to operate in accordance with the law. LINK will explicitly become a digital commodity after the act's passage, meaning it is not subject to endless securities disclosures and tokenholder rights.b) Payment Abstraction, the Reserve, SVR, and other economic systems combine to provide ongoing purchases of the LINK token off the market.c) The staking pool expands, and the value of services secured by staking expandsWhat we want (and will get) is a flywheel: more Chainlink services used more revenue Payment Abstraction converts payment flows Reserve accumulates LINK node operators and stakers are economically rewarded for their work more LINK is locked/held/required for security network can secure more value more users trust the network more services used, etc.That's why LINK is needed for the network to flourish. One asset to rule them all, not ETH trying to do a thousand jobs at once.Now for point 2, Eric Schmidt. At SmartCon in NYC 2022 (the one opened by Caribbean Rhythms or whatever the fuck those guys were called), Schmidt said some very interesting things:“The token, the fact that the token goes up in value based on network effects, is a real discovery, and I don’t think people understand quite the economics of this.”“I think that you’ve just described a whole new industrial system. It’s not very well understood outside of this room.”https://www.youtube.com/watch?v=u2kOmSh4h84&t=2115s
>>62346610crypto devs keep talking about using LLMs for oracles but they would provide only a comforting illusion of fairness. a means of abdicating responsibility to a black box because they weren't able to solve the problem themselves. it doesn't magically become trustless if we rely on a magical talking computer as the centralized party making decisions. the uncomfortable truth is that there can be no decentralized finance when all pricing information comes from centralized exchanges that collude. without strictly enforced consequences for price manipulation, the entire oracle layer is just a farce.
>>62346640Bad actors lose their staked link via slashing and take a reputation hit
>>62346625Its live and did fuckall lol
>>62346668would you consider an oracle node a bad actor for relaying pricing information from binance during the october 10th manipulation event?
>>62346702Nodes reach consensus from 15? I think? Sources so if a particular node took an anomalous value like that as fact then absolutely
>>62346718I agree. However, every node dutifully reported Binance's prices and triggered mass liquidations across defi. Chainlink (or any oracle network, for that matter) couldn't even spare a tweet about the obvious manipulation. Sergey has never mentioned it, he just talked some bullshit about cycles in his blogpost. So that is where we stand.
>>62346755Binance not using Chainlink is what allowed the manipulation in the first place.Binance only used internal market data which caused the crash. Chainlink had zero technical disruptions or pricing errors
>>62346797>internal market dataThe "internal market data" was Binance setting the price themselves. They have total control over what prices their own oracle reports. > Chainlink had zero technical disruptions or pricing errorsIf Chainlink nodes simply relay unquestioningly whatever numbers Binance tells them, then there is no reason for an oracle network to exist.
>>62346840linkies will tell you that the oracles passing on lies is a feature, not a bug lmao
>>62346840>If Chainlink nodes simply relay unquestioningly whatever numbers Binance tells them, then there is no reason for an oracle network to exist.It doesn't. That's the whole point
>>62346797>>62346840So how do you get around that? Finance probably isn't going anywhere and what's to stop coinbase or kraken doing the same bullshit?
>>62346445It's funny that Linkies still parade Eric Schmidt as an advisor when he left years ago and is backing a completely different project (one that he actually invested money in)
>>62346854Reporting multiple sources and discarding erroneous data. The node reporting the bad data would forfeit their collateralized link, not the node reporting consensus
>>62346854>So how do you get around that?You don't, you need a functioning legal system capable of punishing financial crimes. Binance even went to the effort of concocting an alibi by framing the event as a technical error, turns out it hardly mattered because it's been months and no one has even bothered to investigate. It's the same principle underlying staking. If CEXes are never punished for misbehavior, they will just continue doing it.
>>62346883Lol, seems unlikely unless elite vested interests were negatively effected>>62346874What's the downside with this approach?
>>62346920>seems unlikely unless elite vested interests were negatively effectedunfortunately the current situation is even worse than that, the "crypto industry" itself has little incentive to promote a real solution and everything to gain from keeping the status quo. So it's not going to be solved without an external force, i.e. an administration that legitimately wants to reform crypto and is capable of doing so
>if there's some stink around i want em all to suffer>if there's some stink around i want em to feel hopeless and dumb>make em feel bad>make em feel bad>it's what i do yeah>it's what i do yeah>fuck every stink in the whole entire freakin world
