/biz/ - Business & Finance

>>10769538
Because without one smart contracts will still be severely limited.

>>10769538

JUST FUCK OFF WITH THE CHAINLINK BULLSHIT
YOU FUCKING FUCKER !!

JUST KYS OK?
CHAINLINK IS FOR HOMOSEXUAL FAGGOTS!
IT'S LITERALLY THE FAGGIEST SHIT INVENTED, EVER!

OP, GO DRINK SOME HYDROFLUORIC ACID BLENDED WITH RICIN AND BREATHE SOME ZYKLON B YOU RETARDED MONKEY.

>>10769538
Because it defeats the whole purpose of the token for Link to be less than $2500 EOY. Read the whitepaper. Also check em.

>>10769566
Checked

>>10769566
Check’d

>>10769538
they won't. link marines hate this one fact

>>10769538
Just because they can, doesn't mean they should. CL will do it faster, more securely and more cost effectively than a private team could in the same amount of time.

>>10769566[Checked]

>>10769566
Am I in Prague, because this feel like the Check Republic

>>10769538
Why wouldn't a private centralised B2B business require a Oracle?

That's the question you need to ask. They still need the data to be put into the chain.

They can't have trustless contracts without one. Also, they can't do contracts with other consortiums without a third party oracle to automatically act on the data its feed. While they may want to do only contracts in their private consortiums, the reality is that contracts will eventually happen on open protocols and so a decentralized oracle network will be crucial. They will still have tech that can make these public contracts be private in regards to sensitive data with products like enigma and orchid

>>10769538

I will tell you why Chainlink is a scam:
1. They embed public API calls information directly into the Ethereum blockchain, meaning the storage cost of the data itself will be astronomical
2. There is no way to call any private APIs because your API key will be leaked due to the public nature of Ethereum
3. You are assuming that companies would be willing to pay a fee of 10 cents per call. (Which is entirely ridiculous, one of my apps runs nearly 100k api calls per day and I pay only 300 dollars/month)
4. You are assuming companies will pay 10 cents/call to receive "decentralized" data, such as prices of stocks, when they already own multimillion dollar contracts with companies specifically built to provide accurate data (plus you can get your money back if the data isn't accurate from a company, rather than having no one to answer for mistakes)
5. You assuming companies will wait 30+ seconds for an API call, which would place them at a disadvantage of any other competitor who is using a centralized system
It's clear to me that no LINK holders have experience actually using APIs or are in the corporate space, and I feel bad for them when they will get burned, kek

>>10769971
stinkers on suicide watch holy kek

>>10769538
LGBC there was mention of using firewalls for business systems to control which oracles data can be sent to. I'd imagine the MAC whitelist would have its own oracle, just another service that can be provided? For some reason this idea was met w mixed support. Unfortunately this info came from an article written by a pretty non-technical guy and in trying to gather whats up. There was also mention of node operating costs which seems to fall in line w the usual saying.

>>10769971
you should make a thread with this post and see what others say since you seem to have such a good understanding etc.

>>10769561
>sold at 3700 sats

So with all the burgers I’ve been eating lately (gladly of course) I decided today to try an old favorite, the McDonalds Big Mac. I’ll admit, this used to be my favorite meal on earth, but since it’s been years since I’ve eaten anything at McDonalds that wasn’t on their Value Menu, I was really looking forward to having a Big Mac.

As always,the service was fast, the burger was delivered and the fries were crispy for the first 10 minutes. Overall the Big Mac is still one of my favorite “Fast Food Burgers” because of the secret sauce and because it’s so different. We all know that the you don’t eat a Big Mac for the meat and after eating a lot of really good, meaty burgers over the last few months, it was the sauce that helped me enjoy this meal.

My Big Mac rating is simple:the secret sauce is tangy, sweet and makes for a nice burger.It’s one of my favorite fast food burgers but only because of the unique and secret sauce.

Bunch of 4channers tried to force it as /ourcoin/, during the presale ico phase of chainlink there was a minimum requirement of 300eth to enter the presale. Bunch of anons pooled up together and shared presale links to fill them with their eth.

Coin continued to get shilled and pumped up and hyped for the sibios event that link was attended, whole event turned out to be a flop chainlink had a presentation in a room of like 18 people next to the public toilets, literally no news or partnership came from the event and the coin dumped back to below ico prices and created 1000's of bagholder anons.

Now during this alt bull run lots of anons and took advantage of this and shilling this coin to all the new money and newfags that joined in december and don't know this story.

The coin is HEAVILY manipulated and the supply is dried up from huge whales who accumulated below ICO price to create a artificially lower supply (a lot like REQ) and these people have so much room to dump on all of you faggots to still be in profit when the time comes.

In regards to actual project that chainlink aiming to achieve it's nothing more than a basic json parser for smart contracts, would take like a day to add to ethereum by itself.. literally making links whole concept pointless and definitely no need for a token. Would take a lot longer to get it working with bitcoin but the bitcoin core devs would be able to work out the solution a lot quicker than chainlink will, think that's something worth noting that literally nothing is completed and you're literally just buying a whitepaper, they have only 2 developers and they don't communicate at all with no proven background on either, in fact sergey was involved in a project before chainlink called NxT that he since been abandoned until it was took over by a new developer team

>>10769971
Wow, someone in a link thread that realizes it’s all a scam, I’m actually surprised.

Also, OP, you get it. Companies do, and will continue to use private blockchains. The whole public ledger idea is all BS. Cryptocurrency in general is a dumb, useless space. The main utility is in buying contraband online. The rest is all hypothetical and imaginary.

>>10770262
Stop looking for people to assure you that you’ve made a good investment; you haven’t. The entire space is grossly overhyped and everything is way overpriced (not just Link). If you hold any cryptocurrency, your only hope is another speculative frenzy, because none of them are characteristically worth billions of dollars.

>>10769971
Aaaaaahhhhhhh !!!!!
Someone refuuuuuute !!!

>>10769971
Holy fuck is this the end for link? Will biz be finally free of the delusion that is chainlink? I can’t fucking wait

>>10769538
Smart contracts are the future. They will begin what some have referred to as "the fourth industrial revolution." They are one of what Nick Szabo (the actual Satoshi, or a key member of the group that called themselves Satoshi) refers to as the "God Protocols."

However, as they currently exist, they have limited usability. Ethereum is only good for ICOs because there's no oracle. There are centralized solutions, like Oraclize, but as Szabo says, trusted third parties are always a point of failure -- just look up their downtime issues, not to mention the risk of tampering.

Chainlink will remove the trusted third party element, allowing for fully trustless transactions between businesses. This does not mean that the businesses will not trust each other, it means that they can enter into immutable agreements that will execute based only on the API inputs and nothing else -- they will be able to trust each other more.

Law offices will be able to fire most of their contract monkeys. Insurance agencies will get slimmer and more efficient by orders of magnitude. Uber might cease to exist like medallion companies before them. Gambling companies will become more profitable and gamblers will be able to trust their throws of the dice will be properly rewarded when they win. Bank of Singapore (forget businesses, GOVERNMENTS see the use of a trustless oracle) is already trying to smartcontractify their securities. No more endless renegotiation, no settlement and disbursement departments, entire office buildings cleared of middle-manager pencil pushers.

That's why.

>>10769971
1. the cost of executing a smart contract in this manner will hopefully outcompete the cost of the dozens of staff required to administer huge contracts.
2. nonsense. the oracle makes the api call and only reports the data to the aggregation contract.
3. this is a reasonable price to pay if Link will allow for lower contract administration costs. also, the contract only executes (incurs a fee) when triggered by the data it's looking for.
4. the tokenomics of link are designed to be more efficient than this system
5. private chains like hyperledger have a high tps, currently proven to be faster than swift in central bank tests. non issue

>>10769971
>1. wrong
>2. wrong
>3. wrong
>4. wrong
>5. wrong
you'll be able to scare people on biz who have never used any api, but this is fundamentally dumb "fud" that brings up some new elements (like exposing your api key) that will concern idiots. good work

>>10769971
If we are to assume the Ausise bank being the first to do an 'automated bond payment' is using Chainlink then we can assume the Cryptlets/Microsoft relation is true as well considering Azure is whats going to operate the back end to this bond payment.

Recent news tells us that Azure is "proof of authority". Nodes being run by large enterprises. My belief is this is a shard chain of Ethereum, Vitalik said Casper/Constan is close and of course Microsoft would test a sharded chain.

So there we go. Nobody is going to be running smart contracts on the main chain, its too expensive.

Also, I hear Constantinople is in October and anyone recall Thomas not being too worried about LINK tokens slowing Eth?

>>10769971
>1. They embed public API calls information directly into the Ethereum blockchain, meaning the storage cost of the data itself will be astronomical
There will be a cost, but not astronomical. You just need to factor these costs into your decision before you, as a node operator, accept being part of the oracle pool for a particular smart contract.
>2. There is no way to call any private APIs because your API key will be leaked due to the public nature of Ethereum
You are retarded. Why would anyone put their API key on the blockchain. You aren't even trying.
>3. You are assuming that companies would be willing to pay a fee of 10 cents per call. (Which is entirely ridiculous, one of my apps runs nearly 100k api calls per day and I pay only 300 dollars/month)
Where are you getting 10 cents from? A node operator can have a subscription to API and data feeds just like your LARPing ass could if you were legit.
>4. You are assuming companies will pay 10 cents/call to receive "decentralized" data, such as prices of stocks, when they already own multimillion dollar contracts with companies specifically built to provide accurate data (plus you can get your money back if the data isn't accurate from a company, rather than having no one to answer for mistakes)
You have no idea what problem a decentralized oracle solves, do you?
>5. You assuming companies will wait 30+ seconds for an API call, which would place them at a disadvantage of any other competitor who is using a centralized system
That isn't even an argument. You a) don't know how long it will take and b) have no idea how smart contracts work. Question for you: how long does it take to get ETH over to Binance from your preferred fiat on-ramp? How about from your superior centralized banking system to your on-ramp?

The only thing you've proven is that you're able to stuff more cock down your throat than OP.

>1. They embed public API calls information directly into the Ethereum blockchain, meaning the storage cost of the data itself will be astronomical
There will be a cost, but not astronomical. You just need to factor these costs into your decision before you, as a node operator, accept being part of the oracle pool for a particular smart contract.
>2. There is no way to call any private APIs because your API key will be leaked due to the public nature of Ethereum
You are retarded. Why would anyone put their API key on the blockchain. You aren't even trying.
>3. You are assuming that companies would be willing to pay a fee of 10 cents per call. (Which is entirely ridiculous, one of my apps runs nearly 100k api calls per day and I pay only 300 dollars/month)
Where are you getting 10 cents from? A node operator can have a subscription to API and data feeds just like your LARPing ass could if you were legit.
>4. You are assuming companies will pay 10 cents/call to receive "decentralized" data, such as prices of stocks, when they already own multimillion dollar contracts with companies specifically built to provide accurate data (plus you can get your money back if the data isn't accurate from a company, rather than having no one to answer for mistakes)
You have no idea what problem a decentralized oracle solves, do you?
>5. You assuming companies will wait 30+ seconds for an API call, which would place them at a disadvantage of any other competitor who is using a centralized system
That isn't even an argument. You a) don't know how long it will take and b) have no idea how smart contracts work. Question for you: how long does it take to get ETH over to Binance from your preferred fiat on-ramp? How about from your superior centralized banking system to your on-ramp?

The only thing you've proven is that you're able to stuff more cock down your throat than OP.

I will tell you why Chainlink is a scam:
1. They embed public API calls information directly into the Ethereum blockchain, meaning the storage cost of the data itself will be astronomical
2. There is no way to call any private APIs because your API key will be leaked due to the public nature of Ethereum
3. You are assuming that companies would be willing to pay a fee of 10 cents per call. (Which is entirely ridiculous, one of my apps runs nearly 100k api calls per day and I pay only 300 dollars/month)
4. You are assuming companies will pay 10 cents/call to receive "decentralized" data, such as prices of stocks, when they already own multimillion dollar contracts with companies specifically built to provide accurate data (plus you can get your money back if the data isn't accurate from a company, rather than having no one to answer for mistakes)
5. You assuming companies will wait 30+ seconds for an API call, which would place them at a disadvantage of any other competitor who is using a centralized system
It's clear to me that no LINK holders have experience actually using APIs or are in the corporate space, and I feel bad for them when they will get burned, keks

Philosophically, I have studied the greats, Hamburgler and Ronald have always resonated with me. Hamburgler's treatise on metaphysics rivalled Plato and Ronald's elucidation of morality to this day has not been challenged.
Whilst diving into Ronald's work I found myself questioning the sheer nature of McDonald's, the fillet of fish opened my eyes to the depth of mayonnaise and I truly learnt how to control my arteries.
Furthermore after many years practising the teachings of Ronald at a McDonald's in San Francisco I learnt what it meant to be a man. The big Mac and what it represented, came into my life through sheer force of its own will, redefining the meaning of my existence. The big Mac will forever be known as Ronald's best work, some say he played it safe, but they haven't understood the interaction between the secret sauce and the tangy pickles. Through the bigmac I learnt of cholesterol, a lesson I will forever be indebted for, cholesterol represents the fragile nature of what masculinity means to the modern man. Having understood it, I can now create it, since that day my levels of cholesterol have soared, bringing me closer to God, like all great philosophy.

>>10771188
Anon you're not supposed to know this. Please stop these messages. Thanks. -MS

>>10769728

>>10769538

You're a brainlet, because if they're truly a centralised business where all inputs are controlled & all actors trusted, they'll keep using a regular database. That's like asking why a tank needs wings - your question is nonsensical.