/biz/ - Business & Finance

>>18680311
>>18680550
>>18680693
>>18680874
OP I'm going to clean this up and add it to your greatest hits collection.
I'm assuming you're the one in the same as this based July 1st poster.
Literally the only other time I've said "woah, I need to screenshot this"

>>18588112

>>18571541

>>18530924
I am doing this for anons who feel alone or lost all hope in life. This buds for you

>>18190550

>>18190616
>>18190636

Echoing these statements. Perception matters. Realize that in the crypto world, you can send money anywhere in the world for minuscule transaction fees due to its permissionless and borderless traits. Just below, someone sent a $321 MILLION in BTC from one address to another for FAR LESS THAN A DOLLAR and finalizing the transaction in MINUTES.

https://twitter.com/whale_alert/status/1244593654766977024?s=20

This is impossible to do in our current banking system; there's too much overhead between getting clearance from the banks and them taking their sweet time to clear it. This should be hailed as the greatest banking innovation of our time.

But again, perception matters.

Everyone thinks the bitcoin and consequently crypto in general is a scam. This is why reputation matters.

So when companies in the space do shit like hire pornstars, not only does it delegitimatize their business but it makes the entire space look wholly unprofessional and untrustworthy which consequently slows down the adoption process.

I'll include pic related as how reputation is being used to Chainlink's advantage to help illustrate how important it is for adoption this early in the industry's lifespan.

>>18176777

>>18165202

>>18088697
>>18088341
https://www.youtube.com/watch?v=8f0KJc4Lj3Y

just in time with the greatest transfer of wealth
the crash was necessary before the shift into the new industrial revolution

>>17918589
https://www.youtube.com/watch?v=o48PiNjNqxw

>>17539372
>>17539405
short answer: $1k link in 5 years, $10k link in 10 years

>>17005919
Take it friend, it's all yours!

>>16728408
They have to get new trusted node operators slowly in order to prevent sybyll attacks. Lots of currencies and commodity prices have been added and I reckon this year staking will go live. Read up on it, they've planned this out even back in 2014
Also I have a theory that Sergey decided to time the full mainnet release with the next bull run which should kick off late this year into late 2021, because this is the point when the token price will skyrocket just off btc speculation and normies alone, pricing out big players trying to accumulate monstrous stacks

>>16552031
>the rep system
pic related answers your question pretty much. rep system won't be immediately important because of the nature of the network. the truth is that NEET nodes will not be much of a thing at first. the first uses of smart contracts will be for big players (credit default swaps, insurance, derivatives, etc). these players don't care about pinging 1000 nodes, if they can get their info from 21-100 or so trustworthy nodes who have been there from the start.
>inb4 not decentralized
neither was bitcoin from the start. decentralization is not something you can code. it's a process and it takes time.
in any case, these big (KYC) nodes will be de-incentivized from acting in a bad manner due to staking. the NEET nodes come later, when more and more jobs appear on the network.

ultimately, at this rate of progress though we should expect rep sometime next year. they've gone from nothing to the start of 2019 to a nearly completed mainnet. most of you don't even follow github or pivotal, so you complain about useless shit all the time. have some patience. the fourth industrial revolution won't be built overnight.

>>16120069
>What's stopping the real world players from just copying the oracle solution or any crypto technology for that matter?

Pic related goes in depth if you really care. Ultimately, decentralization is the key here. Just look at Libra, even if they did try and make something decentralized, NO ONE trusts facebook or any major player to go through with it. These things have to be built from the ground up and only startups can achieve it. Also achieving a trustless, distributed, and secure network takes a long time (again, regardless of the money you have to throw at it). Chainlink at this point has a MASSIVE first movers advantage. The sybil chasm is tough to cross and I believe Chainlink is well on its way to doing so.
Also, the thing about an oracle network is that its a natural monopoly. The first to build one will dominate the market due to network effects.

Stay comfy frens

Read this and stay comfy we are all going to make it.

It won't stop at $1000.

>>15761029
also
>inb4 muh 2 more years
Your expectations of alts has probably been ruined by 2017. That (especially ETH) was a special set of circumstances that won't happen again. A lot more money will flow into crypto over time than what we saw in 2017, but alts actually have to prove themselves as useful now. Most alts won't survive. I would personally be genuinely surprised if we saw memes/scams moon left and right in the next bull run, but anything is possible in these clown markets.

The oracle problem is the most valuable one in all of crypto. Go back and research if you don't realize this. It's a value proposition worth waiting at least another 2 years for. We are still early as hell, you can see that as a blessing or a curse.

>>15739958
if you had any semblance of critical thought or programming experience, you would understand that what they're doing is essential for a project like this.

only chink/pajeet scammers would rush out a "completed" mainnet, full of bugs and hardly functioning.

>>15601088
Checked.

>>15599999