Chainlink (LINK) - Oracle/middleware that connects smart contracts to external world

[Ray Carlton]

Wish I understood enough to buy this before. Is it too late to start?

Sure, it would have been better to start on EtherDelta 1 week ago.
It would have been even better to buy in the Crowdsale.
Or even better to buy in the Presale.

But I don't think it's too late to start. The Market Cap is still quite low to other coins, considering the product they want to create.

Therefore, the saying might be true for Chainlink at the moment: "Better late than never".

 

[churros]

Is etherdelta still the only way to buy this? I don't have any ethereum yet, so would prefer to buy using bitcoin.

 

[Ray Carlton]

Is etherdelta still the only way to buy this? I don't have any ethereum yet, so would prefer to buy using bitcoin.

It's also on Binance now.

 

[Bill Brasky]

Wish I understood enough to buy this before. Is it too late to start?

There will likely be a bit of a retracement like after every major pump. Although since SIBOS is near so I don't see a lot of people selling.

Either way, this is a long term hold so whatever position you enter at at this time seems to be ok. Put a lot in and hold and don't trade. Just follow the company and the tech.

 

[NewMeta]

Im speculating this to hit a dollar in two weeks time, it's a bullish out look for sure. But consider that:

1) Redditors are still mostly unaware about this.
2) Has the biggest support from 4chan (they literally make or break coins, weaponized autism is a powerful tool).
3) Sibios in two weeks, expect a VERY big pump from this event, I would say this is when it really moons (1 dollar)
4) It's partnership with Swift means it will eventually hit the ears of bankers and big money investors, M-O-O-N.

Yeah you could get in at 40 cents, and it won't be as good as 10 cents at ICO, or 20 cents at EtherDelta or 30 cents at Binance release. But would you rather ride the train now and still make money when it eventually hits a dollar (or lets be honest, higher)? Or just add 40 cents after the first Binance pump to the list I just started above.

 

[Lampwick]

I'm in at 43 cents. Let's see how this plays out.

 

[Deepdiver]

Lampwick which market and wallet did you use?

 

[...]

Im speculating this to hit a dollar in two weeks time

LOL, watch this hit a buck within 24 hours...considering what happened with the last prediction.

Yeah you could get in at 40 cents, and it won't be as good as 10 cents at ICO, or 20 cents at EtherDelta or 30 cents at Binance release. But would you rather ride the train now and still make money when it eventually hits a dollar (or lets be honest, higher)? Or just add 40 cents after the first Binance pump to the list I just started above.

I've been debating buying more and want to wait for a "slump", but it might be ETH when it went from $112 to $300, I waited for ETH to hit 112. It never touched 112 ever again and I missed out waiting for "it" to happen.

Lampwick which market and wallet did you use?

I used EtherDelta with MyEtherWallet, got in at 16/17 cents.

 

[Lampwick]

I bought some ETH on Bittrex and transferred it to an Etherdelta wallet. The Etherdelta interface is kind of unusual, but I was able to buy LINK. For example, you have to transfer the ETH you want to trade from your Etherdelta wallet to the Etherdelta smart contract, but you also have to leave some ETH in your wallet in order to do trades. Also, orders are not automatically matched, one of the market participants has to select the order he wants to take. And you have to increase your default gas settings to ensure that your transactions don't get stuck on the Ethereum network.

I'm a complete beginner with this, but I'm happy to help any way I can. Binance also has LINK, and so far I've been reading good things about them, but I haven't signed up for an account myself. I wanted to learn the basics of Etherdelta in case there's another hot token that hits the market.

 

[BURNΞR]

I speculate that in 6-18 months this is going to $5 and eventually to $20 and beyond. Five dollars because that's a just over a billion dollar market capitalisation. OmiseGO achieved close to a billion dollar market capitalisation in months, not years. The Crypto market is not what it was in 2-4 years ago, things that are hyped go up fast. Twenty dollars because at that price it has the same market capitalisation as Ripple, the same Ripple that SWIFT is in competition with. The volume LINK is moving at is at OMG levels and it's only on Binance and obscure ones like Mercatox and Ether Delta that most don't use. When this gets on Poloniex or Bittrex you'll see a much bigger pump.

From what I can see on etherscan.io, the bulk of LINK is in the hands of 600 people that have 100k or more. They are either holding or accumulating making the circulating supply more scarce than the published 350 million tokens. This is also similar to OmiseGo that most of their coins in the hands of a small minority which was good for the price.

For the most part ChainLink is a big unknown outside of 4chan and obscure corners of Reddit and bitcointalk.org, though that is changing slowly. The slack has about 3100 members and closed off newer members but the unofficial telegram channel has over 1000 members now and growing each day: http://telegram.me/chainlink

I predict that SIBOS will give LINK the publicity and exposure it needs to climb it's way to the billion dollar market cap. I said earlier that price would be in the range of 0.40-0.50 right before SIBOS but here we are with 2 more weeks to go and the price is already in that range. I may have been too conservative and price may even go to the 0.75-1.00 range days before SIBOS.

 

[BromigoMike]

Would you guys say it's safe to import your myetherwallet into etherdelta or would you just create a new wallet on etherdelta and then send to your my etherwallet?

 

[NewDayNewFace]

It's safe.

 

[SamuelBRoberts]

It's safe.

It's a risk. ED's had security issues in the past and there's no telling if they're having one now.

Use a new MEW or use metamask. If you use metamask make sure you set the gas price high because it defaults to 4 and your transaction will take a year.

 

[NewDayNewFace]

I use ledger with Etherdelta and it's been good for me. So I figured it'd be the same with MEW. I haven't had any issues except for the slowness.

 

[SamuelBRoberts]

I use ledger with Etherdelta and it's been good for me. So I figured it'd be the same with MEW. I haven't had any issues except for the slowness.

Ledger MIGHT be okay because the key is stored in hardware.
With MEW you physically enter it into the page. Dicey as fuck.
I've done it in the past and probably need to empty out that MEW...

 

[thebassist]

Would also recommend using metamask- it really makes the entire process much smoother (as smooth as ED can get I guess). Also in general make sure to crank up your gas to at least 12-30Gwei whenever using ED, since the default gas value is 4Gwei. My transactions went from taking ~15 minutes to confirm to 15-30 seconds with just this.

 

[void]

Would you guys say it's safe to import your myetherwallet into etherdelta or would you just create a new wallet on etherdelta and then send to your my etherwallet?

I wouldn't entrust anyone with my bank account and PIN except my bank. In case of crypto, you are your bank. It's bad enough to have value stored on exchanges for some time, but necessary at the moment.

 

[SamuelBRoberts]

LINK underwent a nasty little correction tonight.
4chan was screaming about it, as they're wont to do.

Congratulations to everyone who made money on this, you took a risk and it paid off extremely handsomely, and you're now in excellent, excellent profit. You've probably achieved returns better than the best hedge fund managers in the world!

If I were you I would think about not being greedy, and perhaps taking some profit. This is a market that is very focused on shiny objects, and it's doing well because LINK is the shiny object du jour. When LINK ceases to be the shiny object du jour its price may not stay at its current state. There's already small signs that the correction could turn into a downtrend, though it's too early to say. I would encourage you to think about taking some profit, or at least, keeping an eye on coinmarketcap at least once every few days to make sure that the price is still behaving the way you want it to. Remember, you can always buy back in later after the price goes down if you really believe in the coin.

https://coinmarketcap.com/currencies/chainlink/ is the link.

 

[Ray Carlton]

LINK underwent a nasty little correction tonight.
4chan was screaming about it, as they're wont to do.

Congratulations to everyone who made money on this, you took a risk and it paid off extremely handsomely, and you're now in excellent, excellent profit. You've probably achieved returns better than the best hedge fund managers in the world!

If I were you I would think about not being greedy, and perhaps taking some profit. This is a market that is very focused on shiny objects, and it's doing well because LINK is the shiny object du jour. When LINK ceases to be the shiny object du jour its price may not stay at its current state. There's already small signs that the correction could turn into a downtrend, though it's too early to say. I would encourage you to think about taking some profit, or at least, keeping an eye on coinmarketcap at least once every few days to make sure that the price is still behaving the way you want it to. Remember, you can always buy back in later after the price goes down if you really believe in the coin.

https://coinmarketcap.com/currencies/chainlink/ is the link.

When you say: "There's already small signs that the correction could turn into a downtrend".

Which small sings are that actually?

 

[SamuelBRoberts]

Which small sings are that actually?

Double top at 45 cents and declining volume. Marketcap is also in the 150 million range, which is where most cryptos tend to stall out in my experience. It's rare that something goes above 200 mill.
Not a "OH SHIT SELL NOW!" moment, the thing could very easily have another bull run, but signs for concern, and that if you wish to extract that maximum amount of profit from your investment you should be keeping a close eye on them about now.