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

Transsimian

Ostrich
Gold Member
I don't see much potential in coins with many tokens. Chainlink has over 250 million, IOTA is up there too, as it'll take a big increase to market cap to even double your investment.
 
Coin supply doesn't matter, marketcap does. Unless supply is 1 billion or over, in which case it just gets stupid. I hate anything with a 1 billion supply.

High marketcaps have certain advantages, less risk, more liquidity (And you won't realize how much you love that liquidity until you drop the price of your favorite microcap 20% by selling .05 BTC of it)

But yeah they're definitely less likely to see the crazy upside swings that the smaller ones have.
 

void

Pelican
There will certainly be some kind of correction, but
a) we don't know which exchanges will start trading chainlink until SIBOS conference
b) SIBOS conference in 2 weeks will make or brake this coin.
c) I think swing trading is a bigger risk in this incalculable upwards trend, I don't have the time to track the erratic +-30% price movements 24 hours a day, of course you can work with limit orders but taking 1 or 2 days off watching the market can already destroy the gains one hoped for.
d) I would certainly place a limited sell order for the day of sibos conference to ensure I get out with some profit in case of a crash.
e) Even with SIBOS being not a success, the coin has a long term potential and would be partly responsible for the success of Ethereum. So buying in after a SIBOS crash is also an option.
 

thebassist

Kingfisher
Gold Member
If you're thinking of taking profits I would personally suggest waiting until a couple days before SIBOS. So far although we've had a number of pumps and dips, the baseline level seems to be getting higher every time. I'm still expecting to see decent gains as we approach SIBOS- and others do as well so most likely there will be a lot of people buying in during the runup to the big conference, which will likely exert some upward pressure on the price.

Most people looking to cash out on the conference hype will probably be doing that maybe a day before the conference itself- therefore it might be advisable to sell off a couple days ahead of the conference if that's what you're looking to do.

I will be cashing out a decent chunk around the 12th to free up some ETH for the Request ICO, but will be leaving a significant portion of my LINK holdings untouched. If we see a major dump occur after the conference so be it, I still believe that this is one of the highest potential coins out there, certainly one of the strongest crypto projects with non-crypto applications so I see a lot more gains to be made in the months to come after SIBOS.
 
thebassist said:
If you're thinking of taking profits I would personally suggest waiting until a couple days before SIBOS. So far although we've had a number of pumps and dips, the baseline level seems to be getting higher every time. I'm still expecting to see decent gains as we approach SIBOS- and others do as well so most likely there will be a lot of people buying in during the runup to the big conference, which will likely exert some upward pressure on the price.

Most people looking to cash out on the conference hype will probably be doing that maybe a day before the conference itself- therefore it might be advisable to sell off a couple days ahead of the conference if that's what you're looking to do.

I will be cashing out a decent chunk around the 12th to free up some ETH for the Request ICO, but will be leaving a significant portion of my LINK holdings untouched. If we see a major dump occur after the conference so be it, I still believe that this is one of the highest potential coins out there, certainly one of the strongest crypto projects with non-crypto applications so I see a lot more gains to be made in the months to come after SIBOS.
A very solid strategy. I think it will top out before then, 'cause I don't think it has the energy to go significantly above 150 mill marketcap when the emphasis has shifted to WTC. Look how fast everybody stopped talking about Kyber.
But honestly for this sort of thing your guess is as good as mine, and "wait for anticipation of SIBOS to build and sell slightly before" is very likely to do well.
 

void

Pelican
Certainly could happen like with the split of the BTC blockchain. people will cash out before, but that means you can buy in rather cheap on conference day.
 
SIBOS should be a "Buy the rumor, sell the news" thing, particularly when all the people who bought it thinking SIBOS will be huge and amazing find out that it's not. LINK folks outside of this forum, where people are pretty-level headed, are a very touchy group and probably easily spooked.

I think anybody who would possibly WANT LINK at this price already has it, barring it going on Bittrex, which will never happen because of its shitty KYC procedures.

If you think LINK has huge long term potential, which is your own decision to make, and you want more LINK you can probably get it for a bargain on conference day.
 
SIBOS

SIBOS only has a 1 hour presentation on blockchain tech and it's split into 2 parts. First half is about SWIFT's hyperledger blockchain which they own and will use. This is my speculation but I I think second half is probably about banks connecting to the hyperledger blockchain via SWIFT smart oracles (made by smartcontract.com) and uses LINK to pay node operators to verify transactions.

It is an important presentation because all the industry leaders in banking will be there but I think SWIFT has already made up their minds when it comes to going through with this. It's either run with middleware to get into the blockchain tech or potentially losing marketshare to things like Ripple.

 

void

Pelican
What can we expect: They plan to show a live demonstration of handling the SWIFT protocol. Who and at what time will announce a successful live demonstration or failure is a key strategic question.

16 October 10:15 to 10:45 SWIFTLab, that is the 30 minutes.
https://www.sibos.com/conference/co...messaging-smartcontractcom-innotribe-industry

I would say this 30 minute presentation will be one of the most important of the developers lifes, so I think they will work like mad men to deliver on 16.10.

One other perspective: Microsoft took DOS and gave it a graphical user interface for visual "data exchange". Local networks and the internet gave computers the possibility to exchange data. Chainlink enables automated data exchange from the cryptoworld (ETH virtual machine) to non-crypto participants/information providers, at least for some first applications at the beginning.

Chainlink is Input and Output
 
Sorry to pop in here with a newb question. Which wallets are compatible with link, and how safe is it to leave funds on binance?
 
One thing I've never understood: SWIFT is hardcore financial industry money. Like JP Morgan, Elevon, VISA, level money.
If they want a link to the ETH blockchain, why pay these two guys to do it? Why not roll their own and avoid having to pay for LINK tokens? It's not like they don't have the money to hire programmers, and I'm sure there's somebody in the EEA who would be more than glad to have them.
 
A note: Earlier I said that there was a double top that was cause for concern. I'd accidentally been looking at the USD price on Coinmarketcap, since LINK isn't listed on the major exchanges and I can't use tradingviews. I don't think a double top in USD means anything for a coin like LINK, and I retract that statement. A double top in BTC would be concerning, but that hasn't really happened. In my defense it was really late.
 

void

Pelican
SamuelBRoberts said:
One thing I've never understood: SWIFT is hardcore financial industry money. Like JP Morgan, Elevon, VISA, level money.
If they want a link to the ETH blockchain, why pay these two guys to do it? Why not roll their own and avoid having to pay for LINK tokens? It's not like they don't have the money to hire programmers, and I'm sure there's somebody in the EEA who would be more than glad to have them.
That is a legit question. And we can only speculate about the reasoning why LINK is public. I guess they conviced them, that a non-public "software" will never see widespread adoption by the crypto-world and startups. They wouldn't earn any money with it and they wouldn't gain any control in the crypto-world. Banks will earn money as LINK nodes providing market data (they can possibly "influence to their advantage"). LINK aims to replace those expensive number crunching companies, which collect the bank data for interest rates,...... How much LINK tokens or company shares SWIFT owns, we don't know.

What banks gain after 6:20
 

Alche

Robin
LINKs horrible ICO and lack of information gave me red flags and I avoided it since then. But since then it has gone 4x lol. So what do i know haha. Still will always avoid this token as I don't trust the devs anymore despite their project being interesting.
 
Alche said:
LINKs horrible ICO and lack of information gave me red flags and I avoided it since then. But since then it has gone 4x lol. So what do i know haha. Still will always avoid this token as I don't trust the devs anymore despite their project being interesting.
You're using your head in a hype-based marketplace. "Look for the super-hot ICO" and "Flip it when it goes live" has been the best strategy over the past month. (I 2x'd on Obsidian so not complaining here)
 

void

Pelican
SamuelBRoberts said:
I would want a really solid answer before I went long 3 months+ on this.
Contact the developers themselves, I guess this the only option.

More speculative reasons:
Reason number one. LINK will fuck up the business model of those data providers/interest rate calculators, it will be beneficial to the banks/SWIFT, as they will earn money with their data instead of paying for it.

Second reason, why develop something from scratch if you can get it for free (and better?) from someone else.
Why are most web-servers running linux? And why are companies outsourcing every possible department they do not see as existential to their core business?

Third reason, SWIFT is working on their own block chain for payment settlement and see great potential in smart contracts, which LINK helps to enable.

This is a startup investment, it will either sink or float.
 
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