No seriously, I've been ignoring you guys for two or three years now.
Can someone bring me up to speed on what the current events are regarding chainlink? What problem is it trying to solve (why would it have value?) and what events are you guys banking on would drive the price of it up?
What is chainlink anyways
Jayden Perez
Easton Perez
Like every other cryptocurrency besides Bitcoin it's just a digital age Ponzi scheme. People figure if they spam it enough suckers will buy in which covers their own exits.
Chase Campbell
So are you telling me no one here is probably knowledgeable on the technology or reasoning behind it and people are only spamming it hoping to scheme the next guy out of some money?
James Hill
Thesis: Blockchains are able to transfer ownership of things between people at a fraction of the cost of current business. Blockchains don't know what things are, which is why we need oracles to tell the blockchain useful data
Problem: Oracles represent a point of failure by which fraudulent or incorrect data can be put on the blockchain if you're relying on singular oracles.
Solution: Make a decentralized network of oracles so bad data can be disregarded while still inputting good data. This is what Chainlink attempts to do. So far, they've succeeded.
Isaac Taylor
Thank you for the reply. I am going to read the white paper. Based off what you know, would you be able to guess if the chainlink token currently under or over valued based off the service it provides?
Brody Howard
What's it's value relative to bitcoin? As in- is there a statistic in crypto analogous to P/E ratio?
Parker Powell
Under (massively)
Easton Campbell
Chainlink is likely currently undervalued. We're 30% down from ATH, even though Chainlink continues to onboard more customers of its network. Valuing Chainlink in terms of Bitcoin is as simple as looking at the trading pair. LINK's sats value keeps climbing.
Michael Hall
What are the biggest factors driving the price? Chainlink onboarding customers?
Parker Myers
something something oracles sybil and shit
who cares