/biz/ - Business & Finance

>>22705392
> centralized entity
kek pic is relate

>>21530934
>Nobody is actually USING any of these oracle networks yet, though.
That's exactly the point.
Oracles were shit before Chainlink because they were centralized.

>>15673230
>lol why
Pic related is why

>>15607631
Exactly.
The same would not be true in a centralized system, where a singular service interruption would put jeopardize trillions in one go.

>>12453816
I got this lol.

>oraclize fails all the time
>expect some random NEET to be able to operate a node

>>11612869
>b-but why not use oraclize
because you are a retard, that why
Oraclize doesn't guarantee you uptime or data correctness (if you think they do then go and ask them to provide insurance/collateral

>b-but why would muh companies use chainlink
because they will be able to choose from the full spectrum, from totally centralized to as decentralized as possible, chainlink can do everything oraclize can do and more, while also the contract creator can demand any amount of collateral he wants basicly totally customizing the way the oracles are gonna do their jobs, the only limitation will be free market forces, but you're probably a sjw commie vitalik-loving faggot eth fanboy frm plebbit I can sense that from a mile

Now, get the fuck out of here with your entitled attitude you fucking notropicat or whatever that motherfucker name was you piece of shi

Nobody needs you to like the idea, I'm just answering those basic questions to some normal people who could be fooled by a faggot like you. I hope you never buy and miss out biting the pillow at night and crying to your god vitalik or that oraclize fag

Fuck off

>>11571063

>>11219417
And as other anons have pointed out on here, we've been disappointed by LARPers in the past. Until proven otherwise, we should assume OP is just another one.

I want to escape wage slavery more than anyone but I've pretty much wasted the last year thinking LINK is a sure thing, lurking this fucking board and getting excited by rumors and LARPers only to feel the familiar feeling of disappointment when LINK is in the same old $0.20 - $0.40 range. It's like an addiction and a complete waste of time

Another thing that irritates me is anons saying "I only need chainlink to reach $50" or similar. ONLY $50? Like a more than 100x return is nothing.

I feel so deluded

>>11219443
>you should believe in chainlink as well.
I do anon. I'm sorry for underestimating the power of positive thought. Pic somewhat related

>>10864808
Blockchains cannot directly access off-chain data. Oracles are the middle link, feeding the off-chain data on-chain, in order to trigger the smart contracts.
As to why decentralized is better than centralized, see pic related for example. A centralized oracle could get attacked, hacked or simply go offline. It's like if you had one million dollars in one bank vs one dollar in a million banks, which would be the safest strategy?
Many other reasons why LINK is such a strong project compared to its competitors: partnered with SWIFT so will be compliant with banking standards (the ISO 20022 norm), blockchain agnostic, meaning it will work on any blockchain like Ethereum or Hyperledger (or others, using adapters), partnered with the organizations defining the legal standards for smart contracts, also recognized by leaders in the e-signature field which is also a key component of the smart contract ecosystem, etc.

>>10819654
Dummy. Whats special about link?

>>10802809
>oraclize
>not centralized

Hoo boy!

centralized

>>10156130
>It's not centralization issues with oracles
oh boy

>>10142550
>centralized oracle

We tried that, it's no good.

Salesforce just bought, for $6.5 billion, Mulesoft Inc., a company that's about making APIs externally available:
>https://blogs.wsj.com/cio/2018/03/21/the-morning-download-salesforces-bets-6-5-billion-on-the-api-economy/
This is the most expensive acquisition Salesforce has ever made. That's because they know how important APIs will be, and ChainLink is poised to connect this API economy to this emerging Smart Contract economy.

Yes, the API economy is huge and it's growing. How huge? Well, the research consulting company Ovum says that the size of the API economy is going to be 2.2 trillion dollars during 2018. There were ~15,000 public APIs available in 2016, growing by 40 new ones per day during 2015. In 2016, Netflix alone received 5 BILLION API requests PER DAY.
>An API request is equivalent to a "job" that an oracle would do.
>For comparison, Oraclize claims to do "thousands" of jobs per day. They recently surpassed half a million jobs in 1 year. That shows just how much room for growth this API/Smart Contract economy has.

If ChainLink can capture just 3% of the $2.2 TRILLION global API economy, that gives it a market cap of $66,000,000,000 - 66 BILLION. Consider that Sergey said there are 19,000 people interested in running a node: that's over 100% of the available public APIs in 2016, so 3% of the market is very conservative. Consider that Starbucks holds 40% of the market share of US coffee shops. We’re not even considering what % of the smart contract economy ChainLink can capture, for which I can't find much on predictions for its value or its current value.

Price per coin multiplied by number of coins determines market cap, so marketcap divided by number of coins gives us coin price. So if LINK captures 3% of the API economy, that gives us a price of $188

>>9635581
yes

In addition, anyone who says "decentralized oracles are useless when there's just a single data source" needs to take a long, hard look at pic related.

Today I will remind them.

>>9573183
Pic related
>>9573187
It won't be out for a few years anyway, I think it'll be ready just in time for people to realize they need a solution.

>>9482358

>>9394128
>Decentralized oracles are useless
Proof-read your shit more, it'll make you look less like a retard. You kept writing centralized instead of decentralized.

>>9056907

>>9056962
>centralized
>reliable
lol

>>9052101
>oraclize