Why is Chainlink's price as much as it is?

Why is it you that hold your fucking tokens always think someone is "FUDing" it. I want serious answers as to why it's $5 a token other than 100,000 people buying it and holding it. Speculation is one thing and real product value is another. What does LINK do that makes it worth $5 a token? I don't see a legitimate network being used by thousands of people. I see thousands of people just buying and selling it or shilling it with amazing memes. I mean the memes are awesome.
I believe this. So many tokens or altcoins that are created to make you think they will create something useful in the world when they never deliver anything. You got whales that buy and try to get you to FOMO in. I've made money off doing the same thing, but I'm over the making money part. Where is the useful dapps and innovation at? For that, I call bullshit on most of this blockchain shit.

Bump

> Paid shills 24-7 on biz
> Paid shills meming low IQ normies
> oversold partnerships
> meme breadcrumbs

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unironical brainlet here. since link is an erc token, couldn't they just use eth instead of link for collateral, node rewards, fees etc?

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Who are these shills that started this whole thing? How did they come together and why did they choose Chainlink to shill and pump the price? Yeah you're smart for investing in it and lucky that it made you money. But there's still barely a network being used if at all, by anyone. They needed millions of dollars upfront for what? If all it takes is coding the network and launching it, then what are you using the money for? It's got scam written across the board.

They could. Make a dapp that brings together data from traditional markets to Ethereum's blockchain without using Chainlink to do it. Create an Ethereum dapp, not a Chainlink dapp. I'm not an expert on the programming language so someone with coding expertise can answer that. ERC20 tokens are starting to look more like chuckie cheese tokens. Tokenized payment and software tools are nice in theory, but where the fuck are they and why aren't they being used? I see the main goal of everyone in crypto is not a new financial system that is decentralized or about the tech. It's about making money and cashing out when you hit your goal of being a millionaire. Then what the fuck is the point of crypto? That's just as bad as money laundering with " real" dollars.

who'd bring that data though? you'd need third party nodes to have a decentralized network of data feed.

yeah you better wait until link's decentralized oracle system is fully complete and being used by big companies all over the world. that'll be a good time to buy. you seem smart, user :^).

Create a dapp that can authorize smartcontracts like a checks and balances system. Why do you need Chainlink tokens? You can create a plain Ethereum application like a Metamask just for analyzing and aggregating data.

>they don't know
YOU HAD TWO YEARS
read the archives like the rest of the newlinkers

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All the oldfags are too tired to discuss this now. You won’t find quality discussion here anymore. If you really want to know. Browse the archives.

Why is a necessary tool worth five bucks? You tell me, retard.

What makes it so necessary when no one is using it now? Don't tell me people are using Chainlink on a big scale? I don't see it being talked about or used by top 100 or 1000 companies in the world. They will just create their version of an oracle system. Just like their is permissioned blockchains being created instead of people or companies using Bitcoin. Centralized or decentralized doesn't matter as much as security and ease of use.

I was just reading the assblaster archives and forgot for a second that I wasn’t anymore while I read this thread lol. OP you are officially more than two years behind my guy.

Like xrp, it climbs from all the hype then it will fall back into the 50c ish.

Be careful

the biggest blackpill about chainlink is simply that it's useless. it cant be used for anything yet, and it never will. it's a shitty erc-20 token, the likes of which have all completely disappeared from the market. LINK was kept afloat by hopium and memes - a copious mix i'll grant you - but if you really look at it from a truly dispassionate perspective, you can see that it is nothing. it's worse than vaporware.

i'm glad some of you, including myself, have made money from it up till now, but there's no way this project is ever going to do anything practical in the real world. the sooner you realize that, the better.

>you had 2 years

These meme implies theres no more money to be made if people invest now

serious question here been holding since before the 2017 bullrun but i am too retarded

>I want
Nobody cares what you want

I don't care about being late to the party. Crypto is not my day job. It's like an extra thing to make passive income off of and just maybe, somehow investments pay off in 10 years. I have time unlike a lot of biz/ members who can't stop looking at their blockfolio every 5 minutes to see if they're rich yet.

People are using it, though. A bunch of DeFi products are using Chainlink 24/7. Synthetix, DeFi Money Market (DMM), and RealT. Synthetix is a finance platform, DMM is tokenizing physical assets on the blockchain (automobiles in the first phase,) and RealT is tokenizing real estate. As far as security is concerned, Chainlink is far and away the best in its industry. And there's absolutely no value in every company having their own oracle system because companies don't want their competitors to know they're accessing their API; the entire value proposition of an oracle network is in its neutrality.

Speculation gives it its value right now. Ripple the company and XRP the token are 2 different things. What gives xrp it's price? It doesn't have anything to do with ripple's company technology. Link's at 1.5 b cap.... how much is xrp at?

they are using the oracle network, but currently no one is using the token for anything, other than the team paying the nodes.

I'm happy for those that put money in and they made out with thousands of dollars too. That's fucking cool. Transfer of wealth.

Trading tokens back and forth can't be the only use case for crypto. That's all it looks like to me. Buying a token, waiting for the next man up to buy his bag, and repeat that x1000 and what do you know? The $100 I invested is now worth $100,000. Cash out into fiat.

That's crypto in a nutshell.

Introducing the business model at this point might stall the growth of the network, which is very clearly what the team is focusing on.

Tokenization is a primarily back of house technology, so I doubt it's ever going to be "sexy" or anything. But every time we've invented a new way to keep records, there's been a massive surge in economic activity as people are freed from recordkeeping as a job.

I supposed that is good to hear and see. It'd make more sense if the tokens were distributed more fairly and they had a working oracle system already on the ground the day they launched the ICO. It's taken them two years for mainet and staking to sort of materialize. That's a red flag.
The Ripple tech is awesome. It's more convenient and faster than Bitcoin. Convert fiat into XRP tokens and send the tokens through the tech to someone in a matter of second. Great for remittances.

>shilling XRP
cringe

Ah, a ripple bagholder. What Garlinghouse did to your people is a tragedy.

The automation and digitization of real world assets probably is the next big revolution. Faster record keeping, transfer of assets including property, and much more. See where it's going. In some ways, it's moving faster than we ever thought possible. But is it secure and can you trust it?

You won't get a real answer except memes and hope

I own ETH, BTC, LTC, XMR, XLM, and some NIM.

I'm disagreeing with you. There no sure thing in the world. $5/token is a speculative price. Nobody knows if it's too high or too low of a valuation. Until we get staking, still all going to be speculative. All the projects using the oracle network are using it for free. It's the team that's paying the nodes. The token (not the tech/marketplace) isn't been used for much of anything right now.

It implies you had 2 years to accumulate and do research and your dumb faggot ass is priced out

Well, blockchains are not tamper-proof, but they are very hard to tamper with once they reach a certain size. So the point of failure becomes the things which feed data to the blockchain. This is the heart of the oracle problem: Blockchains are decentralized which makes them hard to defraud, but oracles are centralized which introduces a security flaw.

Chainlink purports to make a network of oracles that is itself difficult to tamper with. Instead of pulling data about something - say the price of cheese in Wisconsin - from a singular source (in this case a cheese shop) the oracle network pulls the price of cheese from *all* cheese shops in Wisconsin. Certainly it's possible to defraud data coming from Jack's Cheese Shop, but is it possible to defraud all of those shops? at what point does that network become outrageously expensive to break into?

As far as security on the oracles is concerned, Chainlink is ahead of the curve in all respects. Mixicles and DECO are mathematical proofs of intense security for both consumer and enterprise-grade needs.

Agree with you on all points. But his question was what gives the token a value of $5 today (not when network is fully up and running). The answer is still speculation.

That was his initial question. In the post I replied to, his question was:

>But is it secure and can you trust it?

So Chainlink network of oracles collecting data becomes tamper proof when there's tons of nodes being staked? That's where the decentralization comes in on there end? Those nodes collect data from not just that one cheese shop where they are getting data from, but each node staking Link has the data from all the cheese shops. False data is almost 0% going to be executed and sent in a smart contract between two parties.

That's the idea of it. It's worked out pretty well for the networks that are currently up and running.

Then the answer is, you pay for the level security and trust you need for your contract.

Speculation in a market usually works itself out. We could see Link tokens go to $50, but still the network is hardly used by anyone to send and receive data. Speculation is great for investors because if you buy in early and the memes and all that work enough to get 100,000 more to buy in, you're rich. At some point, we have to move past speculation. People are banking on Chainlink executing this oracle solution and network. It may end up not coming to fruition. Can't just be Chainlink that is the only company trying to do this. Google has done their research and I bet they're gonna make their own oracle network. It's just like one company that makes shoes, eventually there's going to be hundreds that make their own shoes.

Unless you know what chainlink is trying to do, saying you can choose your level of trust and security doesn't have any context. Though you're right that you'd be able to expand your contract to being run by as many or as few nodes as you want to pay for.

Straight from Jesus' mouth during OceanProtocol meet up. Of course, he's always free to change his mind.

Chainlink is not the only company trying to do this. But Chainlink is the only one with a working product so far, in any expression of that term. And a few companies which have tried to make their own oracle networks ended up using Chainlink after their own networks were defrauded, Synthetix in particular.

I don't wish it to fail. There could be extremely potential benefits of what Chainlink is doing for the world. Trusting data not to be false and to get the correct information into the palms of your hand. Like government documents and real time sports scores, and all kinds of data. It's providing a fraud proof network of genuine information being sent and received. That's the one thing I can gather from blockchain is it sets out to destroy fraud and prevent corruption.

Chainlink is a scam. These idiots gave sirgay over 60 million dollars for flannels, big macs and underlings that mix up AG and AU. They also bought him a nice house in San Fransisco where he can walk outside and shit right on the street like the scammer he is.

All these brainlets telling anyone to check the archives don't have the brain capacity to refute anything and they'll be long gone from this thread by the time you do search and see that most of these concerned have never been answered in the first place.

> Trusting data not to be false and to get the correct information into the palms of your hand.

Not just that. If it works, it provides contract execution without needing a functioning government, only an internet connection. Maybe not so useful in places with functioning governments, but probably very useful if you live in a place without a functioning government.

Now you have NuLink which is a total scam. I can buy into Chainlink first and foremost for being the ones to execute this network and it actually works. Am I mad I didn't buy a suicide stack at $0.15? I guess. It's nice when you can turn $1,000 into a million. I'd be more happy to see that isn't a scam and it works for the world in positive ways. Like if you need health insurance and quotes on how much it will cost, you can use Chainlink to send and secure data from 100 health insurance providers and see which ones would be best for you.

That is a positive aspect of automation that people I think don't understand. They see automation taking jobs away. In some ways, that does happen and it sucks. But it's about immediate need for data without human error. If machines and AI can correct human error at a fraction of the cost, it's worth it.

I'm pretty sure Chainlink is a steal at $5. It's a speculative play, but one with a huge upside if the token model pans out.

>this

DYOR! You don't have to be an expert in blockchain, let alone IT to be able to understand the service it provides and the bennies it gives to businesses. No one spoon fed me or anyone else in 2017 when Yas Forums was balls deep in LINK thread. Either buy your suicide stack now or shut up and set aside a razor blade for the day you take your last warm bath.

Do you think $1000 EOY are real?
Not accounting which year.

>suicide stack
Still 1000 LINK?

>if the token model pans out.
Now that is the $1k eoy question of the day. They're doing great work, hope the token involvement catches up.

Disregarding the year I think 1k EOY is conservative. The network has to carry a ton of value, and that value is achieved by locking up tokens in nodes, which decreases supply.

When staking is live, LINK will be used as collateral for the largest financial market ever in existence. We aren't joking when we say LINK will be $1000.
blog.chain.link/solving-deep-seeded-trust-problems-in-derivatives-using-chainlink-enabled-smart-contracts/

Fck they just cancelled SXSW. At this rate, smartcon0 might not happen.

If they can get people that switch to getting data through their oracle network as well as speculation driving up the price, the price can go up a lot more. Bitcoin still works similar to how it did in 2010. Not a lot has changed besides the amount of coins in circulation and growth of mining operations that has improved the security of Bitcoin's network. They said it would be dead so many times over, but it still goes on. As long as Link doesn't suffer any critical errors or scenarios in the code or a government intervening for suspicious activity, Chainlink is still a good buy at $5. It could be worth $100 per token in the next bullrun if and when that were to happen.

that was the original suicide stack. Since then it's been revised down to 1,000 now that most newfags are priced out of a 10K stack. Time's running out before smartcontracts become the industry standard. Buy the dips while you can and try to accumulate whatever stack you can. You may not make it to Lamboland, but you could at at least live a comfy wagie life with a nice nestegg and/or be able to buy a house in cash in a major metropolitan area.

Considering that Chainlink started as a proof of concept for the biggest financial firms on the planet, I have to wonder whether the switch will be the hard part, or if they're just waiting for the network to become sufficiently robust.