Is anyone else starting to become a bit excited?

BrandonBay86 · 05-02-2021 08:51PM

dougal0691 wrote: »

of course I am. no matter how outlandish the posters claim was, the suggestion that total supply has a bearing on market cap is wrong .

But it does.

Read your post again. The simple equation for market cap literally has the supply in it. You cannot calculate market cap without knowing the supply.

I think you are misunderstanding something.

It’s no different to stonks.

BrandonBay86 · 05-02-2021 08:52PM

LawBoy2018 wrote: »

Is that true? Shocking if so. My friend has 40K worth of Link.

Gas!

LawBoy2018 · 05-02-2021 08:57PM

BrandonBay86 wrote: »

Gas!

Haha he is balls deep in crypto atm. He bought 35K worth of Ocean at 0.30.

wotzgoingon · 05-02-2021 09:02PM

LawBoy2018 wrote: »

Is that true? Shocking if so. My friend has 40K worth of Link.

LawBoy2018 wrote: »

Haha he is balls deep in crypto atm. He bought 35K worth of Ocean at 0.30.

They're rookie numbers. I just dropped 100k on DOGE. But that is only pocket change to me.

cnocbui · 05-02-2021 09:02PM

dougal0691 wrote: »

of course I am. no matter how outlandish the posters claim was, the suggestion that total supply has a bearing on market cap is wrong.

You are correct, but wrong. Total supply does have a bearing on how much investors value something, and that definitely does determin market cap.

Dante7 · 05-02-2021 09:18PM

BrandonBay86 wrote: »

I own link, I’m saying the idea of link single handedly being worth more than the other top 10 cryptos by value & mkt cap is madness.

125 wallets own 81% of the entire supply, and 25% is owned by the founders.

The perpetual positive partnerships are identical to that of XRP, hence why it stinks like it. It’s not that difficult to grasp.

This reads like the FUD put out by ZEUS when they tried to short $LINK, and doesn't stand up to even basic scrutiny. I will ignore the claim about its potential value being greater than the sum of the other top ten, as it was not my statement, and I was looking for answers as to why you believed that $LINK's potential was nothing more than wishful thinking. You have at least now attempted to back up that statement by claiming that it is nearly identical to $XRP, and use Whale and founder's holding to support that claim.

Let's look at the founder's holdings first. You say that the founders hold 25% of supply. This is incorrect. The initial founder's holding on ICO was 30%. This is perfectly normal and what one would expect. A large percentage of this was earmarked for development and talent acquisition, and this is what has happened. The much touted "almost 25%" seems to stem from Glassnode's analysis from 18 months ago, at which time the team had reduced their holdings by 6.8% to 23.2%. This is what you would expect, and it is very likely that their holding has reduced further since then to fund the stated purposes. There does not appear to be any large scale dumping of holdings by the founders. In fact, it would appear that they are doing their best to hold on to as much as they can, as they believe the value will only rise.

https://insights.glassnode.com/an-on-chain-distribution-analysis-of-chainlink-link/

Compare this to Ripple, whose founders engage in constant pump and dump. Create illusory value and dump on unsuspecting new holders as soon as the price rises. It is the opposite of what Chainlink does. As for the constant partnerships. Again, there is very little similarity between the two. Ripple announced partnerships that were bought and paid for and offered no intrinsic value, bar pumping the price of $XRP, which they then promptly dumped. This does not happen with $LINK. Partnerships are quietly announced, all of which appear to offer value and which would be expected milestones on their roadmap. There is no fanfare or ensuing dump. It is just natural scalability and progression.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/?sh=6e879a1479a4

Finally, lets look at your stat of 81% of supply being held by 125 wallets. This figure is largely correct, and is again taken from glassnode. But it is not the gotcha that you think it is. It is a very large number, and has in fact increased in the last couple of years:

"Chainlink’s whales appear to have accelerated their accumulation since July 2019, with the share of supply represented by the top 1% of LINK holders steadily increasing from 53% to 81% over the past 18 months."

https://cointelegraph.com/news/more-than-80-of-link-is-controlled-by-125-wallets

This is again, in total contrast to what happens with Ripple. The Ripple Whales, dump. The Chainlink Whales accumulate more. Now ask yourself. Why are these multi-billionaire institutions and Whales scooping up as much as they can at these prices? It's almost as if they realise the potential expect it rise significantly in value!

TL;DR Nah, it does not stink of XRP.

BrandonBay86 · 05-02-2021 09:34PM

Dante7 wrote: »

This reads like the FUD put out by ZEUS when they tried to short $LINK, and doesn't stand up to even basic scrutiny. I will ignore the claim about its potential value being greater than the sum of the other top ten, as it was not my statement, and I was looking for answers as to why you believed that $LINK's potential was nothing more than wishful thinking. You have at least now attempted to back up that statement by claiming that it is nearly identical to $XRP, and use Whale and founder's holding to support that claim.

Let's look at the founder's holdings first. You say that the founders hold 25% of supply. This is incorrect. The initial founder's holding on ICO was 30%. This is perfectly normal and what one would expect. A large percentage of this was earmarked for development and talent acquisition, and this is what has happened. The much touted "almost 25%" seems to stem from Glassnode's analysis from 18 months ago, at which time the team had reduced their holdings by 6.8% to 23.2%. This is what you would expect, and it is very likely that their holding has reduced further since then to fund the stated purposes. There does not appear to be any large scale dumping of holdings by the founders. In fact, it would appear that they are doing their best to hold on to as much as they can, as they believe the value will only rise.

https://insights.glassnode.com/an-on-chain-distribution-analysis-of-chainlink-link/

Compare this to Ripple, whose founders engage in constant pump and dump. Create illusory value and dump on unsuspecting new holders as soon as the price rises. It is the opposite of what Chainlink does. As for the constant partnerships. Again, there is very little similarity between the two. Ripple announced partnerships that were bought and paid for and offered no intrinsic value, bar pumping the price of $XRP, which they then promptly dumped. This does not happen with $LINK. Partnerships are quietly announced, all of which appear to offer value and which would be expected milestones on their roadmap. There is no fanfare or ensuing dump. It is just natural scalability and progression.

https://www.forbes.com/sites/jasonbloomberg/2019/03/01/is-ripple-a-scam/?sh=6e879a1479a4

Finally, lets look at your stat of 81% of supply being held by 125 wallets. This figure is largely correct, and is again taken from glassnode. But it is not the gotcha that you think it is. It is a very large number, and has in fact increased in the last couple of years:

"Chainlink’s whales appear to have accelerated their accumulation since July 2019, with the share of supply represented by the top 1% of LINK holders steadily increasing from 53% to 81% over the past 18 months."

https://cointelegraph.com/news/more-than-80-of-link-is-controlled-by-125-wallets

This is again, in total contrast to what happens with Ripple. The Ripple Whales, dump. The Chainlink Whales accumulate more. Now ask yourself. Why are these multi-billionaire institutions and Whales scooping up as much as they can at these prices? It's almost as if they realise the potential expect it rise significantly in value!

TL;DR Nah, it does not stink of XRP.

Grand so I’ll load up the truck

dirk_dangler · 06-02-2021 01:06AM

Rob2D wrote: »

Indeed. People are trashing on LINK because it just keeps moving sideways. But it has to for now. Because it needs everything else to come to fruition first.

Once this all comes together it will absolutely explode. LINK is the long term big brain buy.

I would wager most posters here are trading crypto and making a few bob when they cash out and then spend immediately on Nike Air Jordans or iphones, all well and good at the moment but they will be bitterly disappointed in the future when they realise those instant gratification purchases if postponed would have lead to serious gains.
When in doubt remember the poor bastard that spent 10,000 BTC on a Pizza in 2010.
LINK is the one coin you do not try and swing trade, it can pump out of the blue and you will buy back in later when the good news keeps on coming

LawBoy2018 · 06-02-2021 01:14AM

dirk_dangler wrote: »

I would wager most posters here are trading crypto and making a few bob when they cash out and then spend immediately on Nike Air Jordans or iphones, all well and good at the moment but they will be bitterly disappointed in the future when they realise those instant gratification purchases if postponed would have lead to serious gains.
When in doubt remember the poor bastard that spent 10,000 BTC on a Pizza in 2010.
LINK is the one coin you do not try and swing trade, it can pump out of the blue and you will buy back in later when the good news keeps on coming

So interesting! Will definitely be keeping my eye on Link for the next while. I can see a big correction coming soon though before things really take off.

dirk_dangler · 06-02-2021 01:16AM

KilOit wrote: »

Time to sell me thinks, whole market is gone full on delusion.
Getting the same vibes as 2018 although a little less market craziness.
I'm not sitting on coins like last time

Your never going to make it with that attitude
https://ibb.co/hcv0Bvc

dirk_dangler · 06-02-2021 01:20AM

BrandonBay86 wrote: »

I agree LINK will go up.

But noobs seem to forget there is 1 billion total supply.

47x more LINK than there will be Bitcoin.

Pure delusion to think it’ll ever surpass Bitcoins market cap, let alone the combined cap of the top 10 coins.

I’d hold a bag, but there’s some pipe dreamers in here.

We have a failure to see the big picture
This is from 2020 crypto is worth over 1 trillion now
LINK will be bigger than you can imagine.
https://ibb.co/QXjJDBY

dirk_dangler · 06-02-2021 01:26AM

Nermal wrote: »

'AAA+ partnerships'...

Bang of 2017 off this thread!

If you know you know
Google
Oracle
SWIFT
IBM
Intel
Microsoft
T-Mobile

dirk_dangler · 06-02-2021 01:30AM

deathbomber wrote: »

Personally i think Link will crash and burn, sooner rather than later.

This is what you will be remembered for as long as you post here
It will be put on your headstone..
See that old man over there sitting at the bar, that him, The man who looked a gift horse in the mouth

dirk_dangler · 06-02-2021 01:33AM

cnocbui wrote: »

Ripple was boosted years ago on the promise of financial institutions getting involved, .

The difference is Ripple was making all these promises, claims left right and center of adoption, it was all smoke and mirrors, LINK on the other hand make no such promises or claims, it only announces when it has a partnership, that the difference

dirk_dangler · 06-02-2021 01:34AM

bfa1509 wrote: »

I am holding Link but don't really understand it a great deal. It's built on ethereum chain but allows more transactions per second compared to other coins? But with Eth2 allowing 100k tps will this not make link redundant soon enough?

Believe it or not the idea for LINK was born before ETH, it does not need ETH

dirk_dangler · 06-02-2021 01:38AM

BrandonBay86 wrote: »

I own link, I’m saying the idea of link single handedly being worth more than the other top 10 cryptos by value & mkt cap is madness.

125 wallets own 81% of the entire supply, and 25% is owned by the founders.

The perpetual positive partnerships are identical to that of XRP, hence why it stinks like it. It’s not that difficult to grasp.

Well lookie here what have we got, only the same folk that meet at Davos every year, the World Economic Forum
https://www.weforum.org/agenda/2020/12/the-missing-link-between-blockchain-and-existing-systems/

Dohnjoe · 06-02-2021 01:42AM

Alt fundamentalists are back, another omen

dirk_dangler · 06-02-2021 01:42AM

If you do nothing else this weekend be sure to read the following, if it does not sell you on LINK, nothing will.
https://blog.chain.link/44-ways-to-enhance-your-smart-contract-with-chainlink/

Dohnjoe · 06-02-2021 01:57AM

I'll be very surprised if there isn't a minimum 10% drop this weekend

BrandonBay86 · 06-02-2021 02:27AM

Ignore button coming in handy this week.

antfin · 06-02-2021 03:13AM

wotzgoingon wrote: »

They're rookie numbers. I just dropped 100k on DOGE. But that is only pocket change to me.

Yeah well they're rookie numbers to me, I have $1.2 billion in ETH, but that was my pocket money used in spite because Daddy Elon wanted me to put into DOGE! Someone needs to grow up.

Mellor · 06-02-2021 04:24AM

BrandonBay86 wrote: »

125 wallets own 81% of the entire supply, and 25% is owned by the founders.

How do you suggest this impacts the endgame, the max potential?
Stands to reason that the more it value increased the more likely those holdings are to be liquidated.

grindle · 06-02-2021 05:21AM

Mellor wrote: »

How do you suggest this impacts the endgame, the max potential?
Stands to reason that the more it value increased the more likely those holdings are to be liquidated.

If Sergey believes forever in his token it makes him [more] absurdly wealthy over a number of years and he can sell slowly over a decade or two, but his 25% holding when coupled with the idea of him leaving the project... if he wants - whenever he wants - he could sell that down to €0.01c and announce retirement and what are LINK buyers banking on if that happened?
Satoshi alone has enough BTC to cause a market collapse for a month at least, if Link got to that stage where it supersedes BTC it's 5 times worse.

Maybe Link has a strong enough dev team to get them through that? BTC would survive more hard forks as it has, Eth would too as it has because there's so much invested in it's ecosystem. Can somebody usurp Chainlink? I like the idea of Link winning here, but don't know why anybody would imagine it sponges up the top ten market value. It's aiming to be an oracle, not a global computer for automation of background tasks, not a global "store of value".
It validates data between blockchains & outside sources so I can see how getting the benefit of every chain benefits it, but soaking up the top ten? BTC and ETH are over 75% of the whole value and most business interaction is over ETH. Link will probably rise over time but the dominant networks where Link is just a cog will probably rise more.

Mellor · 06-02-2021 08:20AM

grindle wrote: »

If Sergey believes forever in his token it makes him [more] absurdly wealthy over a number of years and he can sell slowly over a decade or two,

It doesn't make him wealthy if he is holds it. That's my point.
The post was alluding to the fact that the value is limited by the amoutn in circulation. I was pointing out that the higher the value goes, the more it pulls currency into circulation.

Sergei (and others) selling over 20 years means there would no longer be 80% tied up.

but his 25% holding when coupled with the idea of him leaving the project... if he wants - whenever he wants - he could sell that down to €0.01c and announce retirement and what are LINK buyers banking on if that happened?
Satoshi alone has enough BTC to cause a market collapse for a month at least, if Link got to that stage where it supersedes BTC it's 5 times worse.

He could cripple it. I doubt anyone would destroy their own assets like that.

I'm not speculating on whether it can be top 5, top 20 or whatever.

Bruno Mannheim · 06-02-2021 08:34AM

LawBoy2018 wrote: »

So interesting! Will definitely be keeping my eye on Link for the next while. I can see a big correction coming soon though before things really take off.

???

as opposed to the one thats just happened in the last few weeks?

Mellor · 06-02-2021 09:22AM

Bruno Mannheim wrote: »

???

as opposed to the one thats just happened in the last few weeks?

Do you mean correction or take off? not clear

Drumpot · 06-02-2021 10:42AM

Why are reviews of binance and coinbase so bad on Trustedpilot?

deathbomber · 06-02-2021 10:50AM

To the other folk, whilst the guy(s) above are passionate about Link, be very careful, people shill all kinds of projects. I myself think Dot is the next Eth but don't take it as advice, do your own research, also consider market caps, circulating supply and Max supply etc etc. Also take some profits when you can. For sure, Btc and Eth will remain on their pedestals for a long time. Best of luck.

Dohnjoe · 06-02-2021 10:50AM

Drumpot wrote: »

Why are reviews of binance and coinbase so bad on Trustedpilot?

They have 10's of millions of customers between them. Crypto problems and issues on exchanges can be highly complex and technical, requiring long tickets to solve. It's obviously a very challenging platform to provide adequate customer service for, so there's a lot of people expressing their frustration on rating sites like Trustpilot and so on.

Danger Fourpence · 06-02-2021 10:55AM

Drumpot wrote: »

Why are reviews of binance and coinbase so bad on Trustedpilot?

Can't speak for Binance but during times of high usage Coinbase becomes basically inoperable. During the recent Ethereum blowup I had periods where I couldn't retrieve a balance. If there's a lot of people attempting to sell at once then this can be a problem.

Is anyone else starting to become a bit excited?

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