ChainLink, the Biggest Scam in Crypto (SELL)

$2 Price Target

It was less than two years ago when ChainLink was the talk of the tech community, bolstering an impressive and mysterious startup. We conducted extensive research into the health and legitimacy of the currently quoted ChainLink $LINK “market cap” available on third party crypto data services and exchanges. We believe the figure is significantly overstated; potentially by as much as $800 million. We have reached out multiple times to ChainLink representatives for comment, but have not yet received a response to our inquiries. We acknowledge that some of the estimates in this report lack precision, but believe they are directionally correct, and presented in good faith. We look forward to ChainLink’s response, and will update this report accordingly if and when they do reply.

Summary:

• ChainLink’s “market cap” could be overstated by 54%, which would put total LINK “market cap” at $700 million vs. $1.3 billion widely reported at current USD-LINK exchange rate.
• With very questionable ownership, one of the company’s advisors, Ari Juels, is known to openly participate in a cult known as the cult of demeter. On top of this, Juels has written a strange novel called “Tetrakyts” which revolves around a secret cult of pythagoras performing cyberattacks; the cyber-terrorists believe they’re oracles performing the work of God.
• We recommend ChainLink to openly release a roadmap. An absence of transparency in the company leaves investors not knowing what they’re investing in.
• In addition to the lack of transparency, no effort is made for advertisement — except for the cult fanbase surrounding ChainLink. For assets to grow they require a decent amount of volume, yet ChainLink’s volume has remained stagnant for a long time.
• Many “secret partnerships” have driven up the price over time yet none of them has proven to be true. The idea that companies like Swift, Visa and AXA are secretly in partnership with Chainlink should be ignored. ChainLink’s most impressive partnership up to date is with Google Cloud.
• A snapshot comparison of our utility estimates vs. ChainLink highlight the drastic difference between our deep dive and the company’s proposed statistics.

Why Link goes to $2 in the next 12 months:

• Today, ChainLink’s selling restrictions on the team have locked up at least 350 million of current LINK supply that can only be sold at a theoretical rate of 1% of daily trading volume. Investors are essentially at their whim in terms of the use of these funds, however, they seem to have acted appropriately to this point. Upon researching, one will see that SmartContract did a series of 700,000 LINK sells last year which created some negative press. The community’s only response to this criticism is: “In Sergey we trust”.

An astounding 28% of existing $LINK is owned by the developers…

• The reality is, five wallets holding more than 50% of existing tokens should be a cause of great concern for ChainLink investors. They are effectively at the whim of these five wallets. Furthermore, the top 100 wallets collectively own 85% tokens of ChainLink.

It should be noted that this is NOT a common distribution.

• In reality, this estimate may prove to be conservative, as they belie LINK trading volumes. ChainLink’s volume has consistently fallen well below NEO and TRON, two cryptoassets whose current market caps are a mere 54% and 80% of ChainLink’s. In addition, we believe the actual amount of “restricted” LINK in distributions to investors, banking partners, and team members may be significantly higher than our initial estimates reflect.
• Using different forms of valuation (quoted prices, comparable tokens, opportunity cost of utility, cost of generation (e.g., mining), possible practical aspects, time value of money) we discover the true value of ChainLink to be at $2. This number will be subject to change in the future, but for now it serves as an accurate appraisal.

Conclusion

All truths are easy to understand once they are discovered; the point is to discover them — Galileo Galilei

The research has delivered the proof that something really stinks at ChainLink and it is goes beyond their strange background. Ultimately, this is not where the story ends; it is where the story begins.

Extremely Cautious Investing to All.

Follow me on Twitter: @KingPivots