/biz/ - Business & Finance

Peter Lynch discusses back testing stories for how your investments will pan out. if you actually take the time to do this for smart contracts, you'll come to a number of conclusions that aren't discussed here because most of you morons don't have the patience to think deeply.

Namely:

- Trust is an asset of a transaction which costs resources
- Just as other technologies have decreased the cost of food, electricity and entertainment, smart contracts will decrease the cost of trust
- There will still be varying levels of trust needed and varying cost tiers for those levels of trust
Most of you, despite your great efforts to research Chainlink, don't understand what the real value of the network is, and more importantly, who will benefit most first from its use.

If you took the time to think about the team and the problem, you'd notice that they both point in a single direction: towards high-value, low frequency transactions with easily externally verifiable data triggers which have parties with an extremely large incentive to act at least partially dishonestly.

People are talking about automated payroll and IOT like these applications make sense at current. They don't, because the technology has decreased the cost of trust 100x, not 100,000,000x. The first people to use cellphones were the ones who could afford 20 bucks a minute because they made more money off that communication advantage than it cost them.