/biz/ - Business & Finance

Imagine being this fucking dumb

ding ding ding

Holy shit are we back to January FUD? What's next? SIBOS toilets?

If there’s only one data input/api to source then yes the system is inherently dependent on the single input. The main idea though is for several independent oracles to scrape inputs from a variety of data sources

>>11968992
>from a variety of data sources
problem is the data that would be most useful to business already has 1 or 2 sources at most

>>11968950

>>11969018
this

>>11969024
yeah, now imagine i want to create a smart contract based on a stock price.
every oracle node is going to get the information from the same official stock exchange server

>>11969120
Exactly?

>>11969120

There are on avg 14 market makers for each stock. Not sure if this makes a difference but would be interesting conversation to have.

But, just looking at stocks is small minded. Theres commodities, currencies, and now crypto. each of these trade on different exchanges all around the world 24/7 close to 365 days a year. Each exchange also has different price discoveries per item.

We didn't even go into the different types of rates, interest rates, libor rates etc...

Decentralized oracles is the future of financial products. Non believers tend to just not think big enough.

>>11969320
this steve?

>>11969320
Also, you can have a smartcontract "based on a stock price" and also need decentralized oracles for fiat price discovery to know what the payout is.

Maybe sometime of currency conversion, interest rate or crypto to fiat, etc. etc.

>>11968981
Imagine the smell

>>11969120

Irrelevant, even if there is a SINGLE data source, decentralised oracles work better. Consider this:

>Nasdaq lists stock price of AAPL as 100 USD
>centralised oracle is compromised and reads that data as 5000 usd activating clauses in SC

Vs multiple oracles that would compete for consensus. The oracles would only be obsolete if there was a direct way for NYSE data to communicate with smart contracts without going through intermediaries, unfortunately that is decades away due to how antiquated all these systems are. So multiple oracles read data from a single source to generate redundancy aka security.

>>11968981
This is how many newfags are now upon us.

>>11969120
kek or just use many of them and aggregate the price
you can use chainlink how you want thats why its the god protocol

>>11969024

>>11969120
you're 100% right, the entire idea of chainlink is obsoleted by sources directly signing their data.

>>11971138
still relies on trusting the data in the first place just cause signed doesnt mean true

>>11971167
chainlink does nothing about that

>>11968950
DELETE THIS

>>11971172
yes it does it can aggregate from multiple sources

>>11971182
everyone can do that for free, the chainlink part replaces the signing part.

>>11971188
10 nodes call 10 apis each then the 10 nodes then get the average across all 10
nothing else does that

>>11971197
>nothing else does that
Anyone can do that, call 10 apis and put their signed result in a transaction to a smart contract that averages the response.
The only purpose of chainlink is to allow data retrieval from sources that don't sign them directly.

>no USD trading pair
>no binance gold rating
>chinese coins have legit multimillion dollar investments for doing the same thing

https://www.youtube.com/watch?v=ovWO3iqXFww&app=desktop

>paying to get data that you can gather and filter on your own using a 10 line JavaScript line and a single PHP file

My sides

>>11969541
>centralised oracle is compromised and reads that data as 5000 usd activating clauses in SC

Do you understand that with Oraclize and a single Chainlink node the value they return is guaranteed to be the value that the API is giving? If a single API is compromised and that's the only source the contract is calling, then both chainlink and oraclize would be fucked. I don't think you understand the value proposition of chainlink.

>>11971239
>>11969541
Oraclize could potentially avoid giving you back a response (for law-enforcement reasons or for downtimes), but cannot alter the data coming from the data-source you have chosen.

>>11971230
That data must be real secure with those 10 lines huh.
I'm sure huge companies that use data instantly and if the data is incorrect can cost them hundreds of millions would really enjoy those 10 indestructible lines.
You're boring and your fud is shite.

>>11971210
> sorry sir my oracle is down currently due to technical issues

>>11971222
Checked

>>11968981
To be honest...... I would recirculate this FUD. It caused me to sell the day after I went all in back in march.

>>11971287
>blue Id
>weak will
Sounds about right.

>>11971259
Ok literal autist fag, then add a couple of error correction libraries. It doesn't really matter tho, because 100 different API requests for the same data are unlikely to yield fucked up results at the same time.

And again, no token or blockchain needed at all.

>>11971336
You're making it seem like libraries are super safe you fucking braindead bellsprout roleplayer.
The reason i bought into this project is because of town-crier they have a genuinely amazing model for hardware protection and when you combine that with the intel specialized ware and chainlinks connections there is huge potential that will come true.
The fact is the software protection is fucking useless without a impenetrable hardware layer.
Tokens are needed and if you don't believe so you haven't read the whitepaper or know anything about enclaves, oracles or the benefit of public chains.
I'm not delusional like most stinkers but give this project a few years and i don't see why this couldn't be worth 300 $ plus.
Screenshot this reply and frame it, if in 4 years you still have the framed shot i will give you a car.

>>11971336
You are right and linkies can't cope. The project has already been forked over to schlopNet which is 100% free no LINK token required. When the data requester needs a response the node replies with 'schlop' that schlippety schlop is decrypted using the latest in cryptographic schlopnology and the output results in the correct answer 100% of the time. This kills the savage linkie.

>>11971375
>300 $ plus.

HAHAHAHAHHAHAH

OH WAIT

YOU ARE SERIOUS HAHAHAHAH

You understand that LINK breaking even $10 token would mean like being a fucking number #2 on the top 100 chart of all tokens/coins?

How fucking delusional you are, it IS NOT EVEN A CRYPTOCURRENCY it is a FUCKING UTILITY TOKEN

>>11968950
Those of you who have been blindly following the chainlink shills are absolute fucking retards. If you had an IQ above 90 and spent 30 minutes researching, you'd actually understand why you are making the worst investment of your lives.

The problem with this board is literally most of the Chainlink shills could not explain to you why Chainlink is actually an amazing shitcoin. The few anons that do get it's a scam and post legitimately useful information get ignored because most of this board is dense and dumb as fuck and when they can't understand something is a scam they act like it wasn't even posted.

Chainlink is next gen ponzi. It will make all current holders with 10k+ bankrupt. You may have to wait 2-3 years, which most of you will be too dumb to do. You'll see a decrease a year from now and because you've been checking the price every fucking day for over 1500 days you'll think "fuck it, I'm selling, this isn't going anywhere!". When the token actually goes to zero you'll be holding the keys to your piece of shit Pontiac and those of us who weren't total brainlets and didnt buy will be having you park our Bentley's because you work as a fucking valet now.

This is not pasta. Do not repost this. This is simply the truth. Fucking screencap and check back in 2021. You know I'm right, I always am.

What is it with this board specifically attracting the absolute dumbest this website has to offer?

>>11971446
Me make monies off magic internet money please sir

>>11968950
We're in the 1000 bagholders eoy timeline now.
Like always the big corps wins in the end, shadowforking projects to prevent debt slaves getting rich.

>>11971188
>everyone can do that for free
In one of Sergey’s talks he actually highlights that banks spend millions PER DAY on aggregation!

ITS A FUCKING 2 MAN TEAM YOU STUPID FAGGOT CUNT LINKIES

>>11971462
there was never any other timeline you delusional faggot

>>11971446
Circlejerking each day in ChainLink threads gives us a sense of pride and accomplishment.
Now buy Link and fuck off back to /plebbit/

>>11971466
This aggregation clearly must involve manual labor (from manual data sources), but aggregation on the blockchain is digital and a trivial function to code.

>>11971475
kys

>>11971489
Suck my le kawk bish !

>>11971505
kys

>>11971478
>but aggregation on the blockchain is digital and a trivial function to code.
If it's so trivial why has nobody accomplished it yet?

>>11971517
There's nothing to aggregate, no signed input data

>>11971532
So what about docusign then, their customers aren't going to sign anything?

>>11971548
Docusign is just a fancy gui for cryptographic signing.
If there's some api that signs its data then sure, it can be used right now.

>>11968950
Chainlink isn’t about decentralizing the source.
Read the wp.

>>11971575
So you're saying that there WILL be signed data inputs. Nice

>>11971591
Are you confused? That's bad for chainlink

>>11971594
Your mum (adelyn) is bad for chainlink

>same shit fuds appear in multiple posts

Totally not discord pajeets

>>11971420
ELECTRICITY IS A FUCKING UTILITY YOU DUNCE.
JUST WAIT

>>11971420
AND YOU'RE IMPLYING BITCOIN DOES ANYTHING.
IT'S NUMBER 1 AND LOOK AT IT.
REEEEEEEEEEEEEEEEEEEE YOU'RE GONNA REGRET THIS YOU DASTARDLY MUTT.

>>11971420
>$3.3 billion market cap
>#2 of all tokens/coins

the absolute stute

>>11968950
nigger tier fud

>>11971129
In that case then having a decentralised network of oracles still helps because the data will be transmitted trustlessly. With one source of data input and a centralised oracle, the centralised oracle can experience downtime or give incorrect data. Link's job is to ensure the message is passed on correctly and trustlessly to smart contracts.
If the data is fucked it's not Chainlink's fault, it's up to the people relying on the contract to find more or better data sources.

>>11971441
Only once will I post this. Only once.

Those of you who have been blindly following the chainlink shills are absolute fucking retards. If you had an IQ above 90 and spent 30 minutes researching, you'd actually understand why you are making the best investment of your lives.

The problem with this board is literally most of the Chainlink shills could not explain to you why Chainlink is actually an amazing bet. The few anons that do get it and post legitimately useful information get ignored because most of this board is dense and dumb as fuck and when they can't understand something they act like it wasn't even posted.

Chainlink is next gen. It will make all current holders with 10k+ millionaires. You may have to wait 2-3 years, which most of you will be too dumb to do. You'll see a 5x a year from now and because you've been checking the price every fucking day for over 1500 days you'll think "fuck it, I'm selling, this isn't going anywhere!". When the token actually goes parabolic you'll be holding the keys to your piece of shit Corvette and those of us who weren't total brainlets will be having you park our Bentley's because you work as a fucking valet now.

This is not pasta. Do not repost this. This is simply the truth. Fucking screencap and check back in 2021.

>>11969120
>>11969320

it's even worse because you can create a bot that reads and sells in real time and fuck up the system creating free money because chainlink will average the results

>>11974323

Yeah, thats called penalties. and the node that intentionally fucks up the results loses the LINK the node is holding.

Get it now?

The system is designed to promote ethical standards of delivering data. Those that violate will lose LINK tokens. Those that contribute truthfully will be paid in LINK tokens

Also, the smartcontract will use nodes that have a percentage of collater value of LINK within the node. So, the loss for bad actors will be significant.

>>11974572
>collater

*collateral

>>11968950
What if I told you that the mainstream feature of getting single source data on the blockchain isn't the only utility of the network? What if I told you that infrastructure & standards will change to unlock the full power of the network? What if I told you that thanks to cloudflare, Kubernetes, etc that there is barely such a thing as a singular data source anymore for leading services? The biggest changes will come when being decentralized enough is no longer enough. But first mainnet will have to come out to ensure that this desire forms in the market.

imagine being this fuckin gay

>>11968950

>>11974649
thanks Morpheus just bought 100k neo

It literally says in the whitepaper that any value over $1 renders the token useless.

>>11968950
What the fuck kind of question is this. Everytime I come back to this board the LINK FUD gets even fucking dumber than before. Soon its going to be shit like "LINK won't work because you need electricity and sometimes the power goes out LINKIES BTFO KEK!!!"