Now of course these are just my thoughts About what I've been thinking Nothing more Of cours
But
Thinking about Chainlink is quite a thing. Those squirrely little rascals have taken the value of scmart contract code execution off their host layer (ETH) and claimed it largely for their own network by having their nodes run arbitrum. This not only allows the scalability and privacy (along with mixicles and TEEs) needed for enterprise but also frees them from being dependent on the of-so-very-slow development of the moneyskelly army.
Now if I were a thinkin man I might look at the situation and start thinkin a few more things...
I might start thinkin after old Ed motherrfucking Felton came under the cube, who else might chainlink be adding to their value layer?
Here's a question: have any other projects, maybe projects from banks, been basically bullshit permissioned ETH clones? And what happened to those projects?
Here's another question: the true value of the chainlink network is in making it decentralized so the entire stack from end to end is decentralized. In some cases this isn't possible (eg single data or API providers) but for the most part data inputs and cross chain or banking outputs can be made redundant and decentralized. But how do you take a random node and first make sure it acts right and second make sure it knows how to stay up enough to be useful? Sure would be nice if there were baby steps you could start a new node on and let it build reputation before opening up more complex jobs, wouldn't it?
Now imagine if not only the oracle layer and not only the smart contract execution layer but also the dispute resolution and core blockchain layer were contained under the chainlink umbrella. That'd be peachy keen, wouldn't it?
Well how would a feller go about that?
Josiah Bell
Good man. Keep looking.
Leo Russell
Now again, I'm just a simple man so I surely don't know what I'm taking about, but what additional developments need to be made to the Eth 1.0 code to allow arbitrum and chainlink to run? I sure can't see any.
And wouldn't it be quite a thing if, when you ran your chainlink node, you also happened to run a "backup" node of a simple Eth-like blockchain. You know, just in case ETH had some problems or decided to adopt a communist governance system that forcibly redistributed ETH to noble parties in need. Or really anything else...wouldn't it just be nice to have a backup?
And what happens if that backup, over time, just happens to work every time. And, wouldn't you know it, its actually cheaper because chainlink nodes aren't often used to trade cryptokitties (and even if they were they'd only be done on the arbitrum layer) and so even that supposedly expensive finality layer is really a good bargain.
Over time, wouldn't that backup system end up becoming the most frequently used system for that purpose? And what does that mean?
To a simple mind like mine it would seem like all of the ecosystem surrounding smart contracts would then have to compete with a single, vertically integrated stack that already has the most important data sets and apis plugged into it. So if you want any part of the SC value add, you have to try desperately to claw that tiny portion away from a monolithic project coded by the best coders, promoted by the best enterprises and that offers seamless integrations with all of the existing business software.
Sounds like quite an undertaking. But then again, what do I know. I aint nobody.
Josiah Clark
user is 43k LINK enough to make it? How long do I have to wait? It’s all so tiresome
Except it's literally dumping right now. Target: 8k sats
Connor Evans
Know something? We're all frens here... Depends on how much you need You'll make it when Sergey decides to pull the curtain back When that is I have no idea A live-and-working-on-testnet layer two scaling solution written by the white house CTO using the link token for value would have been called the grandest of delusions
And then it just happened
Connor Murphy
It was all just a dream I used to read Jive Turkey Magazina
Do you believe that Chainlink will eventually settle around 3 digits? Same with how BTC settled around 4 digits?
Wyatt Wood
Not sure I follow, can you spell it out Biggie lives?
...Oh yeah, and one more thing. Fer all that hootin and hollerin to take place, they sure would need some smart fellers on the team. It'd have to be someone so smart they coulda coded something like eth 1.0 themselves. And that feller would have to have some real time to focus on his work, with other coders doing most of the leg work on all the bugs and go node development. That kind of feller would have to be in from the beginning and smart as a whip. Sure would be nice if they had such a guy.
Lincoln Hall
medium.com/offchainlabs/scalable-low-cost-computation-of-ethereum-smart-contracts-using-arbitrum-on-the-chainlink-8985c6542d4e youtube.com/watch?v=8Cp0MGmEdDY Know that sergey loves you user. and ed. and steve. They all love you and want to you be happy. I think that the complexity of application directed value add dictates both the rate of value capture item appreciation and ultimate fair market value. Knowing that I think that chainlink will never have a singularity, it will just go up in value 300% every year until it is the backbone of all global commerce capturing 1-5% of all global economic activity. Just like it has already been doing for the last two years.
Thomas Bell
>pic related >all eggs in one basket >me an intellectual, has all his eggs already in the link basket (basedao)
So what you are saying is that vitalik is on their team now?
Mason Campbell
>Sure would be nice if they had such a guy. You referring to Ari?
Bentley Robinson
Steve Ellis is a blockchain legend, born and raised in Brooklyn, New york. He became one of the most influential figures in the East Coast blockchain scene in the early 90's. However, Steve’s rise to fame was not an easy one. Steve Ellis was a high school dropout who got involved with dealing drugs as early as 12 years old. His arrest record includes distribution of crack cocaine as well as weapon charges and other crimes. Yet, despite his rough childhood, he was still able to make a name for himself in the blockchain community through his stylistic rhymes and rap flow. Steve’s code “Chainlink” gives a description of his struggle to the top. He shares with the comunity how thing’s can change when you move from the ghetto to the spotlight.
Hudson Stewart
Ok I got you user, thank you and god bless
Carson Evans
Sophisticated fud.
Oliver Bell
I'm saying the opposite, vitalik is now completely disposable and the entire eea knows it and so does he see Ari aint no bitch, but aint no motherfucker like steve
A consistent 300% a year gain isn't fud at all, I prefer this type of growth vs a pump and dump.
Samuel Morales
IIRC Vitalik hasn't been completely focusing on ETH for a while now correct?
Lucas Howard
>> No user this type of bird lays one egg into alien nests. This bird type breeds quickly and when the small bird leaves his egg he drops the eggs from the original bird out of the nest. Then it will be fed by the parent birds until its large enough to leave the nest, while the parent birds lost their offspring. This analogy refers to chainlink (the foreign egg in the basket) slowly capturing the data layer and as high IQ op explained also the baselayer offering better services than ethereum (the parent birds) until its so large that the parents are useless.
>Here's another question: the true value of the chainlink network is in making it decentralized so the entire stack from end to end is decentralized relaychain.fm/15-chainlink
Boomer tier would be something like 7% annual like the S&P, 300% a year is insane, especially if you take into account that this is compounding interest and organic growth vs a one and done pump and dump like xvg.
Christopher Gonzalez
How much link you hold mate? When are we making it. Thats all i care right now.
So you’re telling me that there exists a solution to the oracle problem, which is working with cream of the crop academics, Silicon-valley corporations, former white house CTOs, that is on the path to capture trillion dollar legacy markets, that has been backed by the longest running decentralized meme campaign in history, that has already assembled the largest collection of security-reviewed, Sybil-resistant, fully independent node operators, whose name is already synonymous with decentralized oracles a la google and searching engines, that is already considered the industry standard, that has connections to the banking cartels, that is not even fully complete yet light years ahead of the competition, and that all I need to do to go along for the ride is to buy an erc-20 token and hold for a few years?
The staking event will easily drop the real circulating supply by 50% at the low end. Once we reach full saturation its hard to theorize how much will be available. We will likely see a run up similar to BTC and ETH 500x-1000x in value then a retrace towards something more stable at which point THEN we will see 3x year over year
Aiden Morales
does anyone know how i can get public ethereum to sign transactions on bitcoin BTC privately?
Michael Harris
Uhh checked
Angel Watson
I think ETH will win in the end. I really don't think Sergey wants to run his own chain and secretly hopes decentralized solutions replaces enterprises.
Sergey isn't out to help the insurance companies, he's out to replace them with public goods available to anyone on earth. We bought in based on enterprise adoption, but the real redpill is that it's about enterprise replacement.
