Thread 60814572

It looks like the suppression bots are currently set at $26.

Let's see how many times it'll take Link to successfully break through, and what price they'll move the suppression level to next.

>>60814572 (OP)
It's very obvious why they set it there too. I drew this line months ago.

And that's the thing people don't get when it comes to this suppression. They will go: "oh, but LINK just bounced of a resistance line. That's normal, many alts have charts like this". What they don't realize (or refuse to see) is that LINK didn't fail at this resistance, Bitcoin did.

>>60814591
>What they don't realize (or refuse to see) is that LINK didn't fail at this resistance, Bitcoin did.
Exactly.
Bitcoin keeps getting rejected off Link's """resistance""" levels.
Which is just an insane thing to even consider, yet here we are after five years of this shit happening non stop.

>>60814591
>>60814599
Who tf is dumping bitcoin every time link pumps?????

>>60814572 (OP)
This has nothing to do with sirgay dumps!

>>60814637
>BITCOIN DUMPING IS SERGEY'S FAULT

oh man I can't wait to hear this one.

Can someone explain chainlink to me? All I can gather is that it provides up to date price info? And you have to buy chainlink to access the price data? Is that how it works?

>>60814646
>And you have to buy chainlink to access the price data?
You have to pay for the Link needed to provide the data onchain, yes.

>>60814643
>it's da Bitcoin whales collaborating with Jump and the Bulgarian cabal!!!!
kek baggies that's why you will ALWAYS stay poor

>>60814653
Whoever it is, it definitely isn't Sergey.

>>60814633
BULGARIANS™

>>60814652
So the higher the price of link the higher the price you have to pay for the data? Or the price for the data stays the same?

>>60814633
its garlicbrad

>>60814664
The price stays the same.

>>60814664
Dataprice stays the same. Its subsidized by cll still, not as much anymore though. In the future, its basically like gas, just that you wont notice it as on a protocol level it will be included in for example third party dapps

>>60814684
>Its subsidized by cll still
kek why did you just casually throw that in there? How is that even relevant?

So people paying for the price data will lead to an increase in the price of link because they are buying the link for this data and keeping it/storing it? Or it’s burned/deflationary?

>>60814707
Nodes receive the Link from the users, and they tend to hang onto it because the work they do helps grow the price by generating more demand.

>>60814711
>Nodes receive the Link from the users
or from the contracts

>>60814711
Hmm interesting…who can run a node, anyone? How do the payments get distributed to nodes?

>>60814717
>who can run a node, anyone?
yup
If you want to join certain contracts like for Aave, GMX, etc. you'll have to get approved by them obviously.

>>60814699
>how are fee subsidies relevant to the price of the token
Gee I don't know, maybe some gigabrain on /biz/ - Business and Finance might be able to figure that one out

>>60814734
>>how are fee subsidies relevant to the price of the token
Yes, that's the question.
Bitcoin for instance is 98% or whatever subsidized, always has been, but it kickstarted the very idea of "crypto" and "crypto pumps" from literally nothing.

ETH 1.0, Solana, XRPL, ... are all almost entirely subsidized.

They’re also suppressing at dollar milestone amounts of different currencies, e.g GBP EUR AUD

Any ideas on when the suppression ends? First SWIFT product in production? Or simply until the market or network economics no longer allow for it? Or when the first big bank/institutions says ‘fuck it’ and stabs the rest in the back with a giant market buy?

>>60814740
What do you mean by subsidized?
(Thanks for your time btw)

>>60814758
Massive events will overpower the suppression, this has already happened a bunch of times.
But I imagine it'll just keep chugging in the background, still weighing down minor intermediate price movements.

>>60814775
Nodes being rewarded with coins and tokens that aren't paid for by the actual users.

>>60814775
In case of Bitcoin, transaction fees actually don't cover mining expenses. Miners stay afloat by selling the coins they mine. Though decentralized,For all intents and purposes this is should be considered a subsidy. The added advantage is that this is a pretty "natural" way to get all 21 million tokens in circulation though.

>subsidy
/>noun
>a sum of money granted by the state or a public body to help an industry or business keep the price of a commodity or service low.

Without the subsidy, transaction fees on Bitcoin would be prohibitively high to make it worth for miners to mine blocks containing your transactions.

Most if not all pre-mined tokens (like Solana, ETH, XRP, LINK) do something similar but in a less decentralized way. They use their vast token reserves to incentivize/subsidize nodes in their network to perform jobs like >>60814780 said. This is not neccessarily a bad thing as in the end you actually *want* all tokens to be circulating (or to have circulated at least once) so they are no longer controlled by the central entity that performed the pre-mine, and the network has been kickstarted to the point where it can sustain itself on user fees.

>>60814658
imagine you have developed an oracle network
your core business is to move and process blockchain data better and faster than anyone else

you have the machine that can tell you not only the state of all relevant ledgers but also the latency between them. you have a better map of value than anyone else

you know the maximum USDC you can extract from dex#243 by short selling LINK
you know the maximum BTC you can extract from dex#118 by shorting BTC using USDC collateral
you know all the liquidity available, on chain and off
you know copycats will follow your trend
they all flock to the dex with the best prices and plenty of liquidity
dex#8977 is running on an old version of pancake swap. it is vulnerable to a certain type of cheap transaction spam that prevents users from placing trades while locking their funds

we get to watch the start of the real information wars

>>60814780
>Nodes being rewarded with coins and tokens that aren't paid for by the actual users.
If you really think about it, its like tax and inertia in money flow in general. Just like how the government takes a cut to redistribute in contra to the population actually making the money, because it might be more beneficial to have a central authority "fairly" distributing it onto productive investments.

After all this time we still don't know who exactly is doing it. We obviously know about the bulgarians shorting it but were they as well backed as part of a larger effort? There was a lot of talk about jump trading and the alternative oracle attempts and their pump and dumps and market control but nothing real to bite into. We know Vitalik always seemed to hate link, as well as some early ethereum woke crew, but never a reveal they were suppressing it. XRP is an astoturfed asset which uses the actual link story as their cover, and they seemed to run price bots themselves but a real animosity or desire to control link has never been revealed in any way. Surely someone knows something and they haven't told us. Who and why are doing it, why does it continue even now.

>>60814842
Personally i think blackrock is balls deep in LINK, but that shit is under strict NDA.

They have the resources and ability to suppress LINK prices using BTC

>>60814842
>a real animosity or desire to control link has never been revealed in any way.
they have been latching onto link narratives for ages and now competitively blocking smartcon is a clear enough indication of their animosity. although jump niggers are probably complicit too

>see trader claim an alt I'm in will rapidly break 60 cents and run to 1 dollar
>he turns out to be wrong
>cries about market makers, tells people to go
short
MANIPULATION

>>60814842
It’s the banks and entities who have been testing the network for the last number of years, they have both the capital and enough of an understanding of the network and its implications

>>60814572 (OP)
So here's a theory

If chainlink moons it will be both an alluring normies investment and also it will actually be doing something, I could easily see it replacing BTC over time

So if you're a BTC whale you might actively sabotage its price increase to hold on to your control of the market, or you might sabotage while you transition to link

But as link will be actively used, they can't maintain control over the market with it like they do with BTC, so while very wealthy, this is a net negative for them

Yes this is true, but what should make you hopeful moving forward is that the switch has actually been flipped, and these short term dumps no longer actually suppresses the price in the long term. LINK has also moved into the normie crypto headspace now with the reserve announcement, so I actually think the worst is behind us, and from here on out its going to be a steady grind upwards instead of just crabbing

Whichever entity is doing it we can basically assume they have significant crypto financial/asset power, large trading reserves of the majors. But also they must have market making trading bots and platforms with a deep knowledge and data at a high capability. Being in crypto since the old days would be one way to have all that in place and be dominant. Being major financial institutions would be the other.
>>60814914
Both reasonable candidates, the smartcon hijack is pretty openly subversive. The murky side of xrp doesn't really show up much but if you watch some XRP content its pretty dirty and sad that they're helping lie like that to so many people. Jump are old crypto players and always been involved in market control but are they 'big' enough?
>>60814848
>>60814921
Banks would have the talent and resource to do it though its not clear exactly what the reasoning could be at this point. The Fud is necessary as the price was kept down to prevent a mismatch in sentiment

>>60814933
Sorry, I'm drunk

>>60814933
Maybe it's as simple as this, all assets and markets are mostly controlled. We happen to be acutely aware of this particular instance

>>60814842
>XRP is an astoturfed asset which uses the actual link story as their cover
kek that's actually a great way to word it.

It's becoming more and more clear that the obsessed Link fudders from the past 5 years are all xerpies, so I do think there's a massive concerted effort on their part to keep Link down at least through fud.

Whether they have the resources to dump BTC is another matter though.
It's not inconceivable of course, XRP has been around for a very long time so they'll definitely have a bunch of extremely tribalistic megawhales.

>>60814970
The mev wars period showed just how sociopathic and ideologically driven some of those early cliques are. They were coders and technologists, had a lot of money, and willing to cover their incredible greed and lust for power and control with flimsy self serving pseudo intellectual nonsense.
Those were ethereum people but we never really hear about xrp people probably because there's so little activity, but as you say there must be very big early whales.

>>60815005
Andreessen Horowitz, FF Angel LLC, Lightspeed Venture Partners, Pantera Capital, Vast Ventures, BTC opportunity fund, Google Ventures, IDG Capital Partners, Core Innovation Capital,

>>60814684
It's more like Visa and Mastercard who charge a fee but the fee is absorbed by the service provider and passed on to the customer directly.

ALL LINK FAGS THIS IS URGENT!!!
THERES THIS IMX AIRDROP NOW AND TOP 5000 LINKIES ARE INCLUDED!

>>60814572 (OP)
what this means is 2-3 years of being stuck at $21-26 range loool
enjoy, stinkers

>>60815663
>stack grows 4.32% regardless
Comfy.

>>60815679
cope, stinker

>>60815286
Interesting I had a quick look i'll investigate later thanks anon

>>60815689
that is basically the rate of a CD at a boomer bank. You could literally achieve that rate with ZERO risk of holding a crabbing and dumping highly speculative asset if you just deposit cash into a CD, kek if you're going to fully risk holding shitlink you deserve way higher yield, but staketards will never understand this

It's fucking CRAZY that LINK finally starts to break out against everything and BTC just starts dumping the market. LINK is hanging in there alright but if the market was pumping we'd be $40+ right now instead. Fuck this shit.

>>60815709
buddy at the current price of chainlink me and many others are making more than our former salaries just from staking link. why the heck would i want to hold federal reserve notes locked up in a DVD at a bank? how fucking new are you?

ALL LINK FAGS THIS IS URGENT!
THERES THIS IMX AIRDROP NOW AND TOP 5000 LINKIES ARE INCLUDED!!
HERE imxcoin.net

>>60815587
try this on reddit dear sir , we do not fall for the jeet scam here . have a good day sir and namaste

>>60815709
>You could literally achieve that rate with ZERO risk of holding a crabbing and dumping highly speculative asset if you just deposit cash into a CD
Also with ZERO risk of catching a 100% pump, like we did since June lmao. What are you even doing on this board if you're afraid of risk? Or is it only important when you can "dunk" on linkies? Very transparent.

>>60815722
>former salary: working minimum wage part time at mcdonalds
xD

>>60815663
You're Lebanese and you're poor.

>>60815709
Ever since I staked LINK, the price has appreciated so much that I’ve made far more than the boomer 5% CD return you were talking about, and we both know you knew that.

>>60815767
cope all you want

>>60815768
poorfag

>>60815772
poorfag

remember $1000 END OF YEAR loool

>>60815711
>if the market was pumping we'd be $40+ right now instead
We'd be mid-triple figures if not for the years of Bitcoin playing whak-a-mole with every single piece of Link news and every Link breakout since early 2020 or whenever the fuck this shit started happening.

>>60814684
>Dataprice stays the same. Its subsidized by cll still, not as much anymore though. In the future, its basically like gas, just that you wont notice it as on a protocol level it will be included in for example third party dapps
the whole value prop in the og white paper was for tokens to get locked up. No there is no reason for tokens to get locked up. its just another shit coin to be used as a funding mechanism

Sorry guys but I sold. I'll buy back in at $12

>>60815783
quite the opposite buddy, can you imagine the free time someone would have just from staking link the day it started? im sure youre working right now in this thread though, hopefully you get paid extra by arguing about an asset you dont own. dinners on me tonight!

>>60814646
pretty much, but also they use collections of reputable nodes ("decentralized oracle networks") to add resiliency to the data fetching activity, so if nodes fail or try to lie about the data point, consumers of the oracle networks' data can have confidence that the provided data is still correct (more reputable nodes => stronger consensus and less likelihood of network downtime due to node failure)

>>60815790
>the whole value prop in the og white paper was for tokens to get locked up
kek no it wasn't.

Pic is the entire paragraph about the purpose of the token from the og white paper.

>>60815813
sounds like poverty is what's on the menu, now and forever

>>60815813
well it was because i was there in the og ass blaster thread and it was discussed heavily from 17 to 20 But thanks for helping my point more.
If there is zero reason for token lock up then its just a liquid shit koin(thinks im spam) thats to be traded back and forth. it means its over valued right now

>>60815840
>i was there in the og ass blaster thread
What the fuck does a thread on /biz/ have to do with the og white paper?

ALL LINK FAGS THIS IS URGENT!!!
THERES THIS IMX AIRDROP NOW AND TOP 5000 LINKIES ARE INCLUDED!

>>60815849
thank you for outing your self as a nufag and pivoting to a different discussion.

>>60815865
>pivoting to a different discussion
You're the one who went from "it was in the og white paper" to "it was in a /biz/ thread" thoughever.

>>60815840
>changes subject from "it was in the OG whitepaper!" to "it was discussed in a thread"
>>60815865
>thank you for outing your self as a nufag and pivoting to a different discussion.
Kek. Anyway, all things staking/token lock-ups etc are in whitepaper 2.0. These days you can just ask chatgpt for a quick rundown, so there is absolutely no reason to be this ignorant on a subject that makes you this emotional.

>>60815783
You're Lebanese and you're poor lmao.

>>60815919
living in the great land of lebanon is its own riches

>>60814572 (OP)
>>60810335
ALL LINK FAGS THIS IS URGENT!!
THERES THIS IMX AIRDROP NOW AND TOP 5000 LINKIES ARE INCLUDED!

Bulgarian bulls...... I kneel

evil shit
fuck these yids

enjoy your 10x from here bros.

>>60816569
delusional stanky

>>60814572 (OP)
so they lied?

>>60814633
sandro salami and the mexican cartels

>>60816720
sandro salsano dumped on your ass years ago

>>60816698
the only people who lie more than a stinky linky holder is a chainlink labs employee