/biz/ - Business & Finance

>>11950724
Would you mind sourcing that image, friend?

>>11950745
Literally from his Notes app on his iPhone.

>>11950724
Great. Now we wait for Vitalik to move scalability along.

>>11950745
Its from the Chainlink subreddit
https://www.reddit.com/r/Chainlink/comments/a1hdbs/will_private_permissioned_blockchains_use_link/

Its unironically not FUD. Bullish in my view

Tell me again why permissioned versions of Ethereum like Kaleido are bearish for Ethereum?

good fud
>>11950836

Is anything OP saying true, or is he just a faggot? Thoughts folks?

Still got to pay the node operators some how.

>>11950724
Kek this is retardation but still probably good enough to fool reddit

>>11951106
this.

>>11951106
Not on a permissioned blockchain you don't, however in chainlinks case being ran on a permissioned blockchain means no token to be staked as collateral

This means anything running on hyperledger or Corda, will not be using the token / neet nodes... This means 99% of enterprise contracts

no shit. this is also why xrp is doomed to fail. with privacy/gdpr movements happening all over the world these days, you will never see any public blockchain be used for public banking. the laws even before the privacy movements started were still too restrictive to allow that.

the only blockchains that have any possibility of being integrated are those which the banks find themselves being forced to integrate with, i.e. blockchains that end up finding public use by themselves, such as bitcoin.

chains that try to find use by partnering with companies first or foremost will see zero long term traction because they're simply unnecessary and easily replaceable.

>>11951090
Cause AOL vs Internet. Permissioned chain users will never ever want to interact with contracts on globally available Ethereum.

>>11951133
So what’s staked as collateral?

>>11951090
this, people need to calm down. there will be demand for white-listed blockchains. companies will want in-house chains to run their internals.
eventually people will want them to communicate with external networks, and that's when they'll use the public decentralized oracles running on our link tokens.
just look at the internet itself. you have your private home network. companies and institutions have their intranets. internet providers got rich by linking all the subnets together.

>>11950724
you had a year to accummulate. nonlinkers are now sitting in disbelief

I don't think any of you see the bigger picture - the more people know and get involved with cryptocurrencies, the popular it gets - aka, higher demand overtime.

>>11951161
Nothing, meaning smart contracts worth any money would need to be done on a public chain

Does everyone in this thread seriously think every company using a private blockchain will also build their own private chainlink network from scratch just to provide data to that chain? We're just shitposting in here, right? There's no way biz has gotten this retarded, r-right?

How could they do this to us
Unironically want to kys myself right now

You guys are still trying to push this fud? Lol

>>11951161
Literally nothing. Which is why contract owners that want collateral will use public blockchains.

Private blockchains are basically centralized oracles. And if they want something like that, then that's fine.
A higher security solution is a decentralized network of oracles backed by an incentive to keep node operators honest. That's what mainnet has over private chains.

>>11950724
No. I'm in this for glory or death. I'll wait.

>>11951156
>Permissioned chain users will never ever want to interact with contracts on globally available Ethereum.
Lol you sure about that?
https://www.coindesk.com/ibm-blockchain-maersk-shipping-struggling/

>>11951221
No they wouldn't. Chainlink is not a blockchain. It is middleware that feeds data into any blockchain that has an adapter. You can use a private ethereum or hyperledger chain with API data provided by the public chainlink network.

>>11951228
>>11951249
You guys have no idea what a blockchain is

>>11951317
I think you've got that twisted round, mate.

>>11951317
My bad. I meant private blockchains that use a private chainlink network is basically using centralized oracles.

>>11951299
I know what chainlink is you fucking mong. Fuck off and kys

if op thinks this is fud then he doesnt understand the echonomics of the link token.

>>11951299
I know what you meant now, yeah you're right excuse my bad explanation

>>11951368
Agreed. We've known forever that CL could be used in a centralized manner. This is nothing new. If someone wants a true decentralized oracle they will need to use one on a public blockchain.

>>11951223
Jesus fucking Christ

You don't need a network to run a node

A chainlink node in the simplest case just runs some code and puts the result on a blockchain

It doesn't have to be part of a network

For entities that care about decentralization - ones that won't use a retarded "pernissioned" chain - chainlinks should be part of a network.

For companies that dont understand decentralization - like those dumb enough to think a permissioned chain is anything other than a buzzwordy waste of time - running their own chainlink nodes seems fine. They won't understand or care about the risks for years until they get burned by trusting some bad actors on their consortium chains.

>>11951299
>You can use a private ethereum or hyperledger chain with API data provided by the public chainlink network.
Which is pointless.

A private chain already defeats the purpose of the end to end security offered by chainlink.

If you're using a private chain then a private chainlink is fine.

>>11951299
You are fucking retarded. No you can not. IT'S A PRIVATE CHAIN. You would have to run chainlink nodes ON THE PRIVATE CHAIN and they would fetch data. YOU WILL NOT BE ABLE TO DO THIS BECAUSE YOU ARE A NEET FAGGOT AND DO NOT WORK FOR A COMPANY THAT WILL USE A PRIVATE CHAIN. For anyone that wants to run a node, this has NOTHING to do with you whatsoever. Fucking shit everyone just needs to calm their tits.

>>11951542
Private chains can definitely be used for smart contracts as long as you can prove the hasn't tampered with at any point. Hyperledger Fabric + chainlink accomplishes this without using a public blockchain.

This basically means our LINK tokens are not going to be used on 95% of the projects Chainlink is building. LOL!!

The link token was basically a way for Sergey to raise money for his project. It will barely be used in the actual project.

>>11951161
you don't have to have anything at stake if you can assume you can trust the nodes.

>>11951816
that's not true. everything that's announced so far other than kaleido is building on the public ethereum chain.

>>11951750
Ahh the caps lock. The calling card of the butthurt drooling retard. I'm very tempted to correct you but I don't think there is any way I could dumb it down far enough for you to understand. Btw I'm holding 6 figures of LINK have been in longer than anyone on this board other than ico buyers. Hyperledger Fabric can 100% use data provided by the public chainlink network. End of story.

>>11951816
Look, there will be a shakeout on the permissioned blockchains just as there was when having an isolated corporate Intranet was a brief thing in the 90s. The Internet won out in the end and so will public blockchains. If people want to play with smart contracts for a while in their walled garden that's fine for a while until their centralized permissioned chain isn't adequate anymore.

The LINK token is basically worthless at this point. They used us to raise money for a project with a token with no value!

>>11951834
this, we have more partners to use public network and all of them use ethereum public network so fuck institutios they will follow

hahahahahahahahahaHAHAHAHAHAAH

LINKIES BTOF'd

LINKIES BTFO HAHAHAHAHAHAAHAHA

LMAO STINKERS RUNNING NODES FOR FREE
AHAHAHAHAHAHAHAHA

TOKENS ARE WORTHLESS
LOOOOOOOOOOOOOOL
BTFO
PIC RELATED IT'S SERGEY TAKING YOUR SHEKELS

HAHAHAHAHAHA
THEY BOUGHT CHUCKY CHEESE TOKENS

>>11951860
>Hyperledger Fabric can 100% use data provided by the public chainlink network. End of story.
"Can".

Many will not.

Kaleido's customers likely will not.

>>11951156
and who won between AOL and the internet?

I'm not saying that link has no potential or won't moon. A bunch of literally who shitcoins made eth moon.

But the big companies we're excited about don't seem to care right now. Seems like at the moment, private chainlink nodes are being offered to get a foot in the door, so that maybe eventually enterprises can be shilled on switching to the public network instead of using their own nodes.

I think either we wait forever for a new wave decentralized startups to scare enterprises or maybe we get lucky and one of them participates in a permissioned chain and gets taken advantage of and realizes they wouldn't have been exploited if they were using a public chain with a public oracle network. One big case like that might be enough to grab headlines and drive change.

>>11950724
>>11950836
>>11951134
>>11951143
>>11951816
>>11951887
>>11951937
>>11952094
>>11952170
>>11952198
>>11952211

eat my asshole FUD merchants

Collateral must have monetary value to ensure good behaviour. In the Chainlink network, collateral must be represented in the form of LINK tokens. That's all there is to it.
Boring, brainlet tier fud. I wish discord faggots were smarter.

No, stupid. They will run their own private networks which will require NO tokens at all to be used. They are shut off from any outside sources.

>>11951090
BagholderBingo.jpeg

How is this not FUD? Private chains running private Link nodes with absolutely no incentive to ever use public nodes for obvious confidentiality/security reasons.
Linkpool will host nodes running on (((THEIR))) networks, ain't nobody going to pay you money running your basement NEET nodes when the only ones using public Links are 100% shitcoins. (Hint: all the "good" Chainlink partnerships will run on private chains.)

We got left with the literal whos and shitcoins hoping to pump and dump their coins onto eternal bagholders (like 99% of "crypto" projects)

Chainlink does have a SWIFT partnership, but it means shit all because they aren't using the public network and your tokens have shit all to do with it.

LINKIES DESTROYED!!!

>imagine not dumping your bags before the avalanche
who's gonna be first?

>>11951104
It's true

first guy to sell 100k is going to bring it down to at least 5k sats
buy book is looking pretty thin here lads

Imagine using a chat room with avatar pictures where everyone is a namefag lmao.

>>11951162
Actually pretty good explanation.

>>11952608
Intranets run perfectly fine without any interference with the internet. Literally 100% of companies/agencies/government worth a damn run their own intranets for confidentiality and security. Something that is breached once/if they start using a PUBLIC chain to gather information calls/API calls to their own permissinless/private chain. = Public link network will never be used by anything other than shitcoins like ethorse.

>>11952681

THE CHAINLINK MEME IS OFFICIALLY DEAD !!

>>11952681
Pajeet tier fud, the public network is what gives the contracts security due to being larger

>>11952681
>Public companies don't use the Internet

>>11952710
lolled out loud. discord faggots with their usual standard of fud.

>>11951162
WTF is this shit?
Did I just read something written by a non-retard?

Thank you for not finger painting with your own shit.

>>11952722
wow and here we have one
the deluded link holder in it's natural habitat, a link thread
watch it's posting habits and see the price dumping.
blaming fud on discord users rather than greedy sergay for creating a useless token.
i wonder if it will hold all the way to zero?

>>11952710
Of course they do. But the INFRASTRUCTURE of the company is run on a intranet, which is likely to be revamped in the coming years running on some form of a PRIVATE blockchain solution.
Go look for any confidential data of a fortune 100 company or first world government. Good luck you won't find shit. This is precious data that by law in ever non shithole country is closely protected.

>>11952708
Top kek.

Keep it up, Rakesh

>>11952768
you use a chat room with avatar pictures. nothing else i say can be more offensive than that.

>>11951884
Basically this. Why do you guys think we are all so excited about off chain computation with SGX? It is aiming to solve the confidentiality and scalability problems of public chains. Once those are solved, permissioned chains die.

>>11952780
Your mum is a pig and your dad is a pork belly sandwich

>>11953049
tl;dr: sell your linkies now and buy them back in 5-10 years

Sirs?

>>11953153
bump