Thread 60790303

Another 1 million dollar worth of LINK added to the reserve.
So basically it's a non-organic mechanism, taking 1M worth out of the circulation every week. The higher the price, the lower of amount of LINK taken out, and the other way around is true.

Better than nothing, but seems to be a temporary solution to pump the price. We aren't in flipped switch territory here.

>>60790303 (OP)
Bear market protection, it sounds like

Would they obligate themselves to buying $1m a week without assurances that large new revenue streams (i.e. swift) are soon coming online?

Fairly disappointing. Bragging about hundreds of millions of revenue on their blog post after years of dumping on retail and this is all they throw our way? 90+ billion in TVS and this is all they can monetize?

Better than nothing, but I better see 10 mill + once swift goes live.

>>60790303 (OP)
>flipped switch

>>60790888
this
i don't understand i would have thought those millions would come in daily

>>60790348
I'd assume they are very confident that their average buy in price is going to be profitable in the medium term at least

>>60790999
>>60790888
Checked, fuddies

>>60790303 (OP)
dunked and lunched, thanks xrp bros

idgi isn't 1 million a week a lot

>>60790317
Somewhat. Since the buy price is the same every week, that's a basic buy pressure that gets more impactful the lower the price is. But at the same time, 1M isn't much.
SVR with AAVE have a similar role, creating buying pressure in time of high volatility. Except again, the numbers aren't that high compared to LINK volume.

>>60790348
>>60791032
They logically have to assume the LINK they are blocking for years will be worth more. Will swift and the 11.5k banks do the trick? If so, will it be immediate?
Arbitrum, CCIP, payment abstraction, it was all supposed to be game changers, yet it did little as far as creating a high amount of systemic buying pressure.

>>60791066
At current price that's about 1/10.000th of all circulating supply. In a year that would be 0,5% of total LINK in circulation, that's something but that's much less than the average yearly amount put in circulation each year since 2020

>>60791120
did you expect this reserve to lock up like 20% of link or what lol

>>60790303 (OP)
I thought that the link added to the reserve was a portion of profits that were paid with link from people using services provided by chainlink labs?

So chainlink reserve is just a wallet that Sergey sends 1 million dollars worth of link to every week?

>>60790348
how many $1M buys can you get from dumping 1 load of 700,000@$40?

How times have dumped 700000?

If it’s $1M per week, shouldn’t we want the price to drop so more LINK gets locked up?

>>60791137
No, I'm just stating the obvious.

>>60791248
We want the price to go up so no. But it will be a consolation if the price goes down, and it will also help the price getting back up faster.

>>60791193
The team dumping their LINK was part of the plan since the begging. Already half of their stack is gone and it didn't stop us from being up 200x since ICO

>>60790303 (OP)
I'm not impressed by a million desu, 10 million per week would've been nice

>>60791083
The amount deposited isn't exactly the same, so like some have suggested I think they must be buying based on a percentage of the weekly profit

>>60791248
Win/win or lose/lose depending how deranged a fuddie you might be

>>60791248

kid, it won't make a difference either way

i know everyoen here is a secret autistic genius so surely i don't have to show you the math on 1m of buying pressure versus 1b selling

>>60792371
But this 1m isnt being buying back or selling back. It's temporary locked. You gotta see it as they removed it from the circulating supply. Nice try on the FUD tho

>>60791120
1/10,000th every week, forever. You seem to missing that point son.

>>60792952
to be*

My question is, what is the reserve eventually going to be used for? We heard things like "to further adoption years down the line" which is cool and great but does this mean they will start acquiring companies? They are already poaching high level talent from top tier companies, they already have government adoption, the banks are openly admitting to using their products, what could a reserve possibly buy them that they already can't get?

>>60792931
>You gotta see it as they removed it from the circulating supply.

i'm aware of that kid, and i'm saying it makes no difference because it's so small

even if you do 1m per week for 52m a year, they're still dumping at least 1 billion every year. So your net inflation is 950m

a bandaid on a bullet wound

>>60792952
>>60792960
If LINK keep rising it will be much much less than a 1/10.000th, it's only this portion at current price.
Beside, no indication that it will be happening forever, and the LINKs aren't burned but saved, so they're gonna become selling pressure eventually

>>60792978
At some point they will have to put all their LINK in circulation (they're already halfway there), so the reserve will give them some extra LINKies to dump when it happen.

>>60792978
>My question is, what is the reserve eventually going to be used for? We heard things like "to further adoption years down the line" which is cool and great

nothing

the reality is, it was essentially a marketing gimmick to try and improve chainlink's optics.
that's why you're seeing all of these twitter influencers making similar posts all at once

when your casual crypto investor hears of chainlink, one of the first things that comes to mind is "that's the one that never goes up" or "the team sells that one a lot right"

this is an attempt to improve that reputation, and what better way to do it than taking the money you're already saving and simply moving it into a new account under the guise of creating a special "reserve"

they don't have to come out of pocket for this, they don't have to provide any information, they don't need to stop selling billions of coins every year, and they don't have to build anything new.

they simply log on once a week, send some of their holdings to this account, and then advertise it

>>60793059
>when your casual crypto investor hears of chainlink, one of the first things that comes to mind is "that's the one that never goes up" or "the team sells that one a lot right"
Not really, it's seen as a solid crypto that has kept being relevant for the last 5 years. The FUD isn't really powerful outside of 4chan and to a much much lesser extent xitter, which is ironic since the FUD only started as a ploy to stop redditors to make it.

>>60793139
It isn't powerful within 4chan either, it's just schizos

>>60790303 (OP)
>>60791122

>>60793154
No, they did a good job discouraging new friends from investing, you see it in the poorfolios threads, it's super rare for people to hold LINK now compared to in 2017-2021.

Ch(ai)nlink

>>60793200
>we have something called AI oracles. So AI oracles are basically off-chain systems that house AI and house, in many cases, various AIs. And those various AIs come to agreement for the verification of something. we run multiple AIs in an oracle. Those AIs scrub and verify events and then they put that event on-chain. That on-chain event creates what we call a unified golden record.
TUGR
The Unified Golden Record

>>60793210
It is known.

1M per week = 52M a year, assuming their annual revenues are 100M, thats 50% give or take going to the reserve.

Now imagine the buy backs when revenue is in the billions on a roughly 20B mkt cap coin.

>>60793258
>assuming their annual revenues are 100M
Where is this assumption comming from?
Also there's no reason to think they'll buyback more LINK just because they make more money, and the LINK they buy will be sold one day

i cooka da pizza

>>60794396
They already stated that the buys will grow with revenue

>>60794430
Did they? Is it a vague promesse or are they going to use a precise % of revenue?

>>60794424
lmao well memed anon

>>60794438
chainlinkgod literally confirmed this on twitter anon you bulgarian fudsters need to get a life incel!

>>60794424
High contender for meme of the century

>>60793258
$rlb does about 40m per year with 0 team token sales that counterbalance it, the tokens are burned rather than locked, and mcap is only a fraction of link

there is no world where 50m is significant at that mcap. link should be like 300m mcap tops

we so comfy linkies

>>60792978
Its a safety net for themselves when link gets obliterated.

>>60793139
>Not really, it's seen as a solid crypto that has kept being relevant for the last 5 years

nah

i just told you the reality and you tried to argue it

i think you're thinking of your small group of losers who track this stuff religiously, but in the real world, what i said is true

>which is ironic since the FUD only started as a ploy to stop redditors to make it.

yeah you really "owned" them by making no money in 5 years

>>60792984
>t. Retard
only 1B tokens total fudtard

>>60793059
>the reality is, it was essentially a marketing gimmick to try and improve chainlink's optics.
EXACTLY THIS
AND IT WAS HOOK, LINK, SINKER WITH THE SHILLS. ANOTHER CARROT DANGLE, TOO, BY THE CL LABS TEAM
>TUNE IN WEEKLY TO SEE HOW MUCH WE DEPOSIT INTO THE RESERVE!!

>>60793258
>duuuuuuuuude just imagine

grim

>>60794438
>Did they? Is it a vague promesse or are they going to use a precise % of revenue?

they did not

a few people asked on x and the cult middle managers went insane that people had the audacity to even ask


THE Cuckolds of crypto

>>60797582
>only 1B tokens total fudtard

300m left to dump jackass

also don't call anyone else dumb when you're down 5 years straight faggot

>>60797647
>he bought the top
kek

>>60797559
Every people I told about LINK IRL either didn't know it or had a vague notion that it was one of the good cryptos.

>>60793033
>At some point they will have to put all their LINK in circulation
they could burn the rest of the tokens too

>>60790303 (OP)
>temporary solution to pump the price
EXCEPT IT'S DUMPING YOU STUPID FUCK. CHAINLINK LABS IS THE MOST OVER VALUED VAPOR WARE SHIT TIER COMPANY IN ALL OF SILICON VALLEY AND THE CHAINLINK COIN IS AN EMBARRASSMENT AND DISGRACE TO ALL OF THE CRYPTO SPACE AND DESERVES TO ROT IN THE BOTTOM OF THE BOTTOMLESS PITS OF HELL

>>60790303 (OP)
So this CCIP mechanism is like some human centipede where sirgay betraymoto just buys backs and dumps.

Its like some fucked up crypto version of Dune where the BigMacs™ MUST FLOW and Betraymoto is House Of Harkonnen.

>>60790303 (OP)
cry harder, xerpie.

Not only is the reserve set to scale with revenue, but it's going to scale with offchain revenue from institutions as well.
And considering we're on the brink of mass institutional adoption, that's an insane prospect.

>>60800682
>CHAINLINK LABS IS THE MOST OVER VALUED VAPOR WARE SHIT TIER COMPANY
Ripple, ADA, Doge, ... are objectively a million times more overvalued though.

buy buy buy

>>60792984
>they're still dumping at least 1 billion every year
Ripple dumps $3 billion every year after buybacks and escrow.
Solana dumps $7 billion.

Not to mention we've known about Chainlink and their plans for inflation since 2017 kek

This is the absolute most inorganic fud in the history of this board.

>>60801178
b-but you can't compare it to other cryptos! Why? Y-you just can't, okay!?

>>60800646
They won't, LINKies are too precious to be burned.

>>60800682
>dumping
Sadly this stupid market is still prisoner of the whims of BTC so until it's resolved, we will pump and dump along with BTC. Hopefully when the actual switch is turned on BTC will be crabbing

>>60801174
Yeah the reserve is growing, at 1M worth of LINK each week. Nothing you posted who's that the weekly amount is supposed to grow with more adoption.

And I'm not a xerpie, more than 99% of my cryptos are LINK

>>60801192
Frankly I wish they dumped more, the faster they run out of LINK the faster stacking 1.0 will have to be put in place

>>60801229
>Nothing you posted who's that the weekly amount is supposed to grow with more adoption.
You're functionally illiterate.

>>60801229
Nothing you posted shows* that the weekly amount is supposed to grow with more adoption.

Just an unfortunate autocorrect, my bad, I should have proofread myself