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File: 103 KB, 1176x736, linkpal.jpg [View same] [iqdb] [saucenao] [google]
16120787 No.16120787 [Reply] [Original]

This shit will kill coinbase and localbitcoin.
You are able to trade crypto via paypal, trustlessly and securely.

http://linkpal.io/

>> No.16120825

>>16120787
Very cool

>> No.16120845

paxful already does the same thing with a good escrow protocol. I've traded over 6 figures on it. But of course I'll support my link bros

>> No.16120857

>>16120845
It doesn't do it trustlessly and without a middleman, because they can't connect paypal data to the blockchain.

>> No.16120879

>>16120845
Is it worth it to sell on paxful? I always see direct deposit sells at like 93-97% of spot btc and feel like you could make a lot of money in down markets just flipping that ~5% spread

>> No.16120885

>>16120787
Don't use PayPal to cash out your crypto gains they will scam you and lock your account

>> No.16120899

>>16120787
This is the legitimately the first crypto app that has actually made me say “wow this is kind of cool”.

>> No.16120937

>>16120885
You don't have to deposit your funds with them. You just use them as a middleman for your bank account.

>> No.16120939

>>16120787
It's P2P still, though trustless which takes time. So Coinbase will have a place due to convenience.

>> No.16120965
File: 77 KB, 1600x900, wojak.jpg [View same] [iqdb] [saucenao] [google]
16120965

And how are we supposed to FUD this now? Fuck you fucking Linkies, I guess accumulation ends now

>> No.16120985

>>16120787
Looks scammy as fuck

>> No.16120992
File: 68 KB, 590x788, CHARLIE-569052.jpg [View same] [iqdb] [saucenao] [google]
16120992

>>16120845
>buying BTC at higher prices

>> No.16121322

>>16120985
swingers will swing

>> No.16121356

>>16120965
You had 2 years

>> No.16121374 [DELETED] 
File: 258 KB, 1242x2208, image5.jpg [View same] [iqdb] [saucenao] [google]
16121374

>>16120965
How to get some free BTC

1 - simply go to bitcoin-generator dot online
2 - put your wallet address
3 - select how much Bitcoin you wanna receive
4 - click start, then confirm
5 - wait for the process complete
6 - receive your free BTC

>> No.16121377

>>16120787
Nice. Glad I read it now, was close to diversify 15k Link into some obscure low cap shitcoins

>> No.16121388
File: 126 KB, 800x769, 1561923025171.png [View same] [iqdb] [saucenao] [google]
16121388

>>16120787
there are so many use cases for chainlink that will make crypto 10x more accessible to normies
people on here like to talk about derivatives and so on, but simple shit like this is also really exciting. 2020 will truly be the year of DEX and cutting out middlemen.

>> No.16121417

i dont get it why do you need chainlink its just a payment service im sure paypal could verify how much you paid already??

>> No.16121425

>>16121322
>>16121377
>>16121388
Ok what's going on here

>> No.16121432

Imagine trusting this bootleg shit.

>> No.16121439

>>16121417
It allows for the trustless execution vs trusting a middleman like PayPal

>> No.16121442

This Hackathon is another turning point for me. Just seeing what was done in a couple of weeks, imagine with a bit more polish.

This video here where they just went through a contract and updated it in 20 mins to a new use case completely... we used to have projects for each issues. Chainlink is the skeleton key:

https://twitter.com/clcgio/status/1188565961508569095

>> No.16121444

>>16120787
no usage

>> No.16121448
File: 323 KB, 500x622, 1558128636509.png [View same] [iqdb] [saucenao] [google]
16121448

>>16121425
simple, but important apps like this weren't possible on ethereum before due to the inability to access off chain data. you're going to see an explosion of simple but important apps like these which will revolutionize crypto thanks to chainlink.

basically, the singularity.

>>16121432
no need to trust it, it's literally trustless

>> No.16121450

>>16121432
Obviously not finished fag. Was a hackathon submission

>> No.16121456

>>16121417
paypal can't verify if you got your crypto, brainlet.

>> No.16121458

>>16121425
From now on druggies can basically buy their fix with paypall or a cc secure an anonymous. Fundamentally this will revolutionize dnms

>> No.16121463
File: 212 KB, 1098x579, w (2).jpg [View same] [iqdb] [saucenao] [google]
16121463

>> No.16121477

>>16121448
Oh, you reviewed the source code in its entirety? Ok.

>> No.16121484

>>16121448
>wearing pants

>> No.16121494
File: 14 KB, 460x343, 1558455701682.jpg [View same] [iqdb] [saucenao] [google]
16121494

>>16121477
>doesn't understand how smart contract adapters and the ethereum blockchain works

>> No.16121497

>>16121477
There is nothing to review, it's literally just an ETH escrow contract with a LINK adapter and a few lines of web interface.

>> No.16121511

>>16121477
Check their github, even a pajeet tier webdev like me can read and understand it. simple and elegant something I will never be able to do

>> No.16121512
File: 7 KB, 183x275, 5bf169b66b9b9690b9ec907401c1eed3.jpg [View same] [iqdb] [saucenao] [google]
16121512

>>16121477
>he doesnt know how web3 works

>> No.16121533
File: 137 KB, 636x592, 1570628057772.jpg [View same] [iqdb] [saucenao] [google]
16121533

>>16121456
ethereum can just verify itself when it sends the transaction it produces a unique transaction id. why would you need chainlink? 10 adapters to verify that 1 line of code?

>> No.16121582

>>16121533
Automated trustless escrow. With some more lines this could go as far as to make the execution not just dependent on the payment but on the delivery of wares as well. Post services have apis as well

>> No.16121636
File: 69 KB, 710x1042, linkpal.png [View same] [iqdb] [saucenao] [google]
16121636

this dapp is unironically based. it doesnt have to be linkpal necessarily that pulls it off but this idea could lay the groundwork for a upcoming smart contact hype

>> No.16121714
File: 165 KB, 680x1066, 1572272782602.jpg [View same] [iqdb] [saucenao] [google]
16121714

> be Nakamoto
> Create p2p system
> Watching in horror as scammers try and copy you
> Watch horrified as a fat Russian scammer makes the solution to crypto problems as a middleman solution

>> No.16121732

>>16121714
>t.never read more than the first paragraph of the buttcoin whitepaper

>> No.16121739
File: 255 KB, 1600x1067, SIRGAY.jpg [View same] [iqdb] [saucenao] [google]
16121739

>>16121732
Cope

>> No.16121749

>>16120937
A middleman can still sieze your money.

>> No.16121756

Why would I want to pay paypal fees and gas to use this service? How does this make it easier for a norman to buy?

>> No.16121764

someone explain how this works to me like im 4
t. 70iq anon

>> No.16121765
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16121765

>>16120787
Why aren't we at $50 yet

I'm sick of the market being so irrational

>> No.16121771

>>16121739
Go fud some normies on twitter or spam discord and telegram groups with lolis gore and porn, seems like you are not qualified to fud on here

>> No.16121781

>>16121749
Sergey already did this through a mass delusion psyops paypig venture

>> No.16121792
File: 57 KB, 720x720, white_people_meme.jpg [View same] [iqdb] [saucenao] [google]
16121792

>>16121771
Okay Norman

>> No.16121843
File: 191 KB, 1022x1024, OwO.jpg [View same] [iqdb] [saucenao] [google]
16121843

Bros is this real? Is this shit actually possible with chainlink? A fully decentralized crypto-to-cash service? Holy fuck I underestimated LINK like crazy. This is literally the best project in crypto. I need to increase my stack.

>> No.16121856

>>16120787
>paypal
>trustlessly

>> No.16121903
File: 577 KB, 1364x2048, 1572279366491.jpg [View same] [iqdb] [saucenao] [google]
16121903

>>16121764
pls someone how does this work??

>> No.16121907
File: 57 KB, 645x729, brainlet3.jpg [View same] [iqdb] [saucenao] [google]
16121907

>>16121533
How does ethereum know if you sent fiat, brainlet?

>> No.16121960

>>16121903
1. You want to sell crypto, someone wants to buy crypto.
2. You send him a paypal invoice
3. Chainlink transfers the invoice into ethereum smart contract
4. The smart contract now knows if the invoice is filled (if fiat has been sent and received by another party)
5. If the money has landed the smart contract sends crypto to the buyer

>> No.16121993
File: 231 KB, 422x646, dancing_apu_link.gif [View same] [iqdb] [saucenao] [google]
16121993

>>16121960
Holy fuck and this is all possible through LINK and ETH? $1000 EOY is not a fucking meme. We are all going to make it.

>> No.16122017
File: 761 KB, 1536x2048, 1572701213301.jpg [View same] [iqdb] [saucenao] [google]
16122017

>>16121764
>>16121903
You can buy or sell etherium (and soon every other crypto) without anyone else, and no possibility of being scamed.

It can also be changed to work with any other credit/debit card that has online payment systems with like 2 minutes of modification. PayPal just makes it easy and has a normie friendly invoice system already.

>> No.16122039

>>16122017
>without anyone else
I should clarify, you need to find someone to trade with for now. But I'm sure soon someone with offer a service for like .05% or something tiny.

>> No.16122086

>>16121993
What do you think LINK does? All it does is transferring real world data into smart contracts.

>> No.16122103

>>16120787
Did you miss the bit where it's a buggy WIP by a single dev?

>> No.16122151

>>16122103
That's literally one of the hackaton entries made during this week from zero, and it's already groundbreaking.
Did you miss the point that a single LINK hackaton proof-of-concept made by 1 guy can change the whole market? That's literally 1 use case of millions use cases.

>> No.16122163

>>16120787
you didnt even post the chainlink paypal adapter...>>16120937

>> No.16122170

>>16120937
>"You don't have to deposit your funds with them"
>"You just use them as a middleman"
i dont think you understand how any of this works

>> No.16122179

>>16121432
do you understand trust is being eliminated in this case? how many retards are in this thread?

>> No.16122180

>>16122170
I use paypal for year and didn't have a single penny on my paypal account, all the money is going directly from or to my bank account.

>> No.16122220

>>16121636
>these queries are paid with LINK

who would have thought the HODL meme was not a meme at all

>> No.16122263

>>16122220
How would holders get to see ROI though? From only selling staking gains?

>> No.16122276

>>16122263
> From only selling staking gains?
Yes. The beauty of LINK is that when the time comes you won't have to sell. Ever. "Never selling" is not a meme.

>> No.16122286

>>16122263
Read the white paper, then sell all your link for some passive income pos memecoin

>> No.16122300

Try actually running this and report back how many hours it took PayPal to disable your API keys and sur you for ToS violation

>> No.16122321

>>16122300
ToS doesn't state you can't use your account for smart contract escrow.

>> No.16122347

>>16120787
Yeah how long until gaypal shuts this shit down tho

>> No.16122359

>>16122321
Then just run the thing and make a killing, I'll be the one to tip PayPal off

>> No.16122374

>>16122086
Yea but I thought it would be for like boring company stuff and not actually something that I would wanr to use. I mean we can finally cash out our crypto shit. Chainlink solved the cashing out meme.

>> No.16122407

How are you supposed to find buyers with this?

>> No.16122468

>>16121442
the universality chainlink provides is incredibly useful

>> No.16122492

>>16120787
Chainlink is honestly a cool project, even if it never has a big moon mission I want to accumulate more.

>> No.16122494

>>16122347
>>16122359
You could use bank APIs as well no? Isn't that what the whole OpenBanking is about? PSD2 and what not. Bank API connected to smart contract to let the contract know when money has been paid and then released the crypto.

>> No.16122520

>>16120787
This is so dope. If people can’t see the value of this then there is no hope for you. It’s going to be like the Ethereum shitcoin mania of 2017 all over again. Except this time around the hype won’t be for useless tokens, it will be for real world applications made possible thru chainlink. This next run up will make 2017 look like a complete joke. Buckle up boys we got a winner on our hands.

>> No.16122549

>>16122407
There could be a marketplace of some sort.

>>16122494
>You could use bank APIs as well no?
Correct.

>> No.16122560

I don't quite understand how this works and if is feasible in the long term. PayPal hates crypto. It prohibits crypto-related transactions and punishes them by locking the account. That's why you don't see Paypal as an option on crypto exchanges.

>> No.16122591

>>16122286
This. It explicitly states that Chainlink will always be the value of a cup of coffee. No higher, no lower.

>> No.16122605

>>16122560
Why does Paypal hate crypto if they're still getting money anyways?

>> No.16122631

>itt: viral marketing for linkpal
nice try ranjesh and friends

>> No.16122642

>>16122492
this is exactly what is said about every real moon mission

>> No.16122661

>>16121458
They will look like regular online stores like Amazon and Ebay. Rest assured, some government agency will have a backdoor to these "anonymous" smart contracts, but their bases for their warrants will not include those details. :)

>> No.16122672

>>16122631
You can literally steal the code from github. Afterall it is for the most part patchwork from publicly available resources

>> No.16122702

>>16122661
Running a dnm is always just a temporary endeavour. As soon as it becomes too big you sell to a sucker like little Ross.

>> No.16122711
File: 486 KB, 300x300, 1567363996400.gif [View same] [iqdb] [saucenao] [google]
16122711

>>16122702
You think that's what happened to him? Patsy?

>> No.16122752

>>16122631
Why would anyone shill it? It's not commercial.

>> No.16122764

>>16122711
Ross was a shroom seller that was very active on the forum and was always very ideological. Not sure if the forum logs are still out there but anybody present was aware when he became DPR. The original DPR moved on and worked on new projects.

>> No.16122782

>>16122764
Unfortunate. Of course, when you start doing stuff like that, you have to know there are forces watching you.

>> No.16122831

>>16121388
>2018 will truly be the year of DEX and cutting out middlemen.
>2019 will truly be the year of DEX and cutting out middlemen.
>>2020 will truly be the year of DEX and cutting out middlemen.

>> No.16122885

Bump

>> No.16122894

>>16122782
It is a game that you have to play smart, not a playing field for juvenile dreams of revolution and delusions of grandeur. Ross got what he was looking for. But this is ancient history, and Link could force leo to adopt their style. We will see if anybody has the brain and balls to pull it off

>> No.16122899

>>16122179
No it isn’t. What does PayPal from freezing transactions? Their system is not bound by ethereum.

>> No.16123062

REQ BTFO

>> No.16123071

>>16121388
>2020 will truly be the year of DEX
shut the fuck up. 2017 called

>> No.16123130

>>16123062
True, REQ is fucked.

>> No.16123214

>>16123071
Yeah? Well the Nigger Store called, and they're all out of you.

>> No.16123232
File: 105 KB, 301x301, 007FA87A-169D-4502-BA20-77B2B00F321D.png [View same] [iqdb] [saucenao] [google]
16123232

>>16123214
Why is the nigger store calling you?

>> No.16123249

>>16122899
The ETH is only released after chainlink confirms PayPal transferred the money. PayPal could freeze the transaction but then the trader retains control of their ETH. Also PayPal doesn’t necessarily know a crypto exchange is happening, all they need to know is user A sends fiat to user B

>> No.16123260

>>16123249
Enter: mixicles

>> No.16123275

>>16123249
This. It is extremely interesting because I dont think anything like this has been done before. All it is is just api data. Paypal has no idea that it is being facilitated with a smart contract. if you know anything about blockchain this is literally what everyone was waiting for,

>> No.16123280

>>16123249
They will still lock your account under suspicion of fraud or laundering

>> No.16123281

>>16123260
Yeah I was just thinking it seems like a perfect application for mixicles

>> No.16123284

>>16122605
jews

>> No.16123314

>>16120899
lol you have some shill stuck in your teeth

>> No.16123511

>>16123260
This. PayPal can't do shit.

>> No.16123540

what do you guys think about the link swap dapp that lets nodes protect against price swings by selling risk to speculators? seems pretty useful

>> No.16123586

There's one project that's about allowing trustless trade of video game items, for casual players, where distrust is very common. 'how do I know u wont fuck me over if I send item or payment to you first.' Only focused on dota i think, but it could be applied to literally any game item, or even game themselves, and by this logic, literally any kind of digital good that has ownership connected to an API. It's so fucking big, yet it's just a very small use case for link.

>> No.16123609
File: 83 KB, 900x900, 1560056339995.jpg [View same] [iqdb] [saucenao] [google]
16123609

Nobody cares wtf Chainlink does, the fact is the coin is fucking useless, it has no use at all, why would anyone buy a chainlink coin?

And this is true for 99% of crypto btw.

>> No.16123616

>>16123609
appropriate self portrait

>> No.16123649

>>16123609
youre honestly right. but hopefully they can find a use for it and hopefully chainlink is the number one with the strongest most secure network

>> No.16123667

>PayPal, trustless
fuck PayPal

>> No.16123695

this is kinda dumb
I could see this being useful for btc/eth swaps but paypal transactions are easily reversed

>> No.16123760

>>16123280
I don't think anyone is trying to make the case that this brings us end to end trustlessness. What it does is blow localbitcoins type services out of the fucking water and adds a really important tool in the early smart contract stack. From this it's not hard to see what happens next. Hint: it's more little shit like this that will eventually morph into something much larger.

>> No.16123947

>>16123695
You sound like the kind of retard who watches Forrest Gump and thinks, "I could start a shrimp business." Betcha eat Earth worms too.

>> No.16123991
File: 32 KB, 400x369, BAM.jpg [View same] [iqdb] [saucenao] [google]
16123991

>>16122520
This was my first thought seeing this last night. We're seeing the foundations of what could be the ICO craze 2.0. Except this time we have real use cases. So it'd suffice to say we're about to see the App store revolution 2.0. This time powered by smart contracts.

>> No.16123993

>>16123695
go build something

>> No.16124189

>>16120787
>http://linkpal.io/
i wish they would use proper grammar and not use gray times new roman on a galactic background

>> No.16124290

>>16121960
Paypal DOES NOT allow the use of its platform for buying/selling crypto just so you know. If a chargeback occurs, the buyer is fucked.

https://news.bitcoin.com/paypal-users-receive-cryptocurrency-warning-email/

>> No.16124312

>>16123993
Dilate

>> No.16124345

>>16124290
this, You're a bunch of faggot linktards grasping for crumbs because you know you're about to lose everything on a completely fucking fake project.

>> No.16124424

This sort of application is why I bought in 2017, crazy to see these things finally coming to fruition

>> No.16124433

>>16122899
>No it isn’t. What does PayPal from freezing transactions? Their system is not bound by ethereum.
then the transaction doesn't complete, by no fault of chainlinks. they move onto a different payment system, paypal looses out on the fees.
The beauty is that the smart contract is what sets up the conditions. PayPal doesn't control any part of that process to move the ETH. The smart contract only triggers their PUBLIC API. What are they gonna do, turn off REST API for everyone? Once that shit goes live, it is forever until they shut their doors.

>> No.16124441

https://developer.paypal.com/docs/integration/direct/payments/paypal-payments/

>> No.16124499

>>16124290
>Paypal DOES NOT allow the use of its platform for buying/selling crypto just so you know. If a chargeback occurs, the buyer is fucked.
>https://news.bitcoin.com/paypal-users-receive-cryptocurrency-warning-email/
There is probably legal wiggle room because it is a payment request. No taxes involved, so they aren't going to chase it. It is no different than Venmo, which they also own.

>> No.16124570

>>16124433
Based. You can send an invoice to someone with no information. No way of PayPal knowing.

>> No.16124629

>>16123991
>App store revolution 2.0
What is this in reference to?

>> No.16124659

>>16120787
2 years for this? What a scam.

>> No.16124666

>>16124629
Everybody rushing to make an app in hopes of being bought out.

>> No.16124667

>>16120787
Local Bitcoin has the benefit of being able to meet up with people IRL.

>> No.16124694

>>16124290
Paypal also backed out of LIBRA which is a pretty strong sign they're considering alternatives, it's not like they're going to ignore the space entirely forever.

>> No.16124739

>>16124433
>they move onto a different payment system, paypal looses out on the fees.
Paypal does not care about the measly fee profits they will be earning from a fiat to crypto exchange. Paypal hates crypto trading.Take it from someone who used to actively trade Paypal -> crypto at a 15-20% fee. The fee was obnoxiously high because Paypal is a low risk payment processor and they perceive crypto trades as high risk. This was done manually, communicating with the seller etc. What more if it's automated? It would be much easier for them to pin you down. Your best choice would to be find an alternative payment processor that is lenient towards crypto trading (I know of none).

>>16124433
>The smart contract only triggers their PUBLIC API.
So how will it be able to pull information that user A has sent user B an invoice? That is not public information. Unless Linkpal is the middleman processing the paypal payment, you will not obtain that information.

>>16124499
>There is probably legal wiggle room because it is a payment request.
There is no legal wiggle room with Paypal. Many have tried and failed. You will get fucked.

>> No.16124750

>>16124629
The App market brought about by the iPhone.

>> No.16124759

>>16121377
Mate the only coins you need are, LINK, and XSN (maybe RSR/RSV if you want stablecoin)

>> No.16124771

>>16124667
Nothing stopping you from asking to meet up with the seller or client you're doing business with. Given how we had an anon a couple months back who set up transactions via localbitcoin only to rob them in remote locations he told them to meet him at, not many would want to take up your offer of a face to face conversation since they don't have to.

>> No.16124906

>>16124290
lol did you bother reading the article you linked? it says the email ended up being fake

>> No.16125172
File: 68 KB, 500x500, shpongle-avatars-000303477504-d7a0uj-t500x500.jpg [View same] [iqdb] [saucenao] [google]
16125172

>>16121636
to every single individual who visits this place:
if you never wrote a line of code, or doesn't understand anything about crypto, blockchain or digital agreements related, computers, finance, or basic math. please, take a fucking look at that image. that single picture resumes it all. look at it and try HARD to understand it, even if it takes a whole day, cause it contains,in practice, all that LINK does. a significative part of the future and your own life will run on transanctions like that. sooner than you think, million times per second around the world. this is the revelation you were waiting for. even if its not LINK based, the future of human relationships lies written on that picture.
you are looking at the birth of the 4th industrial revolution.

>> No.16125182
File: 58 KB, 800x600, 1570942660462.jpg [View same] [iqdb] [saucenao] [google]
16125182

>>16125172
this message is for those in the middle

>> No.16125183

>>16125172
Don’t fucking scare me. Jesus christ

>> No.16125489

>>16125380
Yes, PayPal hates crypto, this is a publicly known fact. PayPal was used to trade bitcoin in the past, many years back, but then they cracked down on it and even a mere mention of bitcoin or cryptocurrency in the subject field will likely get you in trouble.

>> No.16125206

>>16120787
seems like a solution looking for a problem, still.
I would never use paypal for any type of >$500 usd transaction

>> No.16125237

>>16123260
Exit: my testicles

>> No.16125520

>>16121425
>he doesn’t know by now that kek blesses link threads regularly

>> No.16125263

>>16124771
Smart anon. If anyone here wants to buy bitcoins IRL for cash I'm selling. Meet in the desert of Nevada.

>> No.16125264

>>16125172
ahhh ok, cool cool. I got it now.

>> No.16125380

>>16124906
My bad I didn't read the article in whole. My point still stands though, I've dealt with many in this business and it's no surprise that paypal does not like crypto trading. I'm not here to shit on the Linkpal idea but it's just not feasible with Paypal.

https://www.paypal-community.com/t5/PayPal-Basics/Bitcoin/td-p/1895080

>Welcome to the PayPal Community, that's a great question! Unfortunately we do not allow buying and selling bitcoin through PayPal just yet, nor do we allow it to be used as a funding source.

There you have it.

>> No.16125452

>>16120879
Also curious.

Just wouldn’t want to get popped by the feds for being an “unlicensed money service” or whatever

>> No.16125454

today (Sunday) will be a big day for chainlink

>> No.16125464

>>16125172
Interconnectedness.

>> No.16125481 [DELETED] 

>>16125380
Yes, PayPal hates crypto, this is a publicly know fact. PayPal was used to trade bitcoin in the past, many years back, but then they cracked down on it and even a mere mention of bitcoin or cryptocurrency in the subject field will likely get you in trouble.

>> No.16125980
File: 136 KB, 828x823, IMG8813813408023953747.jpg [View same] [iqdb] [saucenao] [google]
16125980

Ok so, this is fucking cool and all, but when THE fuck will we be able to use it?

What still has to happen before chainlink is usable as an oracle? I’m guessing staking is the final piece that needs to be released, as that’s what will allow the collateralized node fest to officially begin.

They already released “mainnet”, even though currently it doesn’t fucking do anything useful, so what does that even mean?

>> No.16125998

65% of chainlink supply owned by 2 founders.
no thanks

>> No.16126003

>>16125998
Proof?
Thought so
Go back to your cuckshed

>> No.16126012

>>16123130
Kek, replicated in a hackathon
I guess they will just keep all the money and not bother now

>> No.16126038

>>16123130
>>16126012
Req was clearly dead by the time the Mozz blog post broke and didn't result in the immediate firing of several people.

>> No.16126043

>>16120885
This. They will also make it so you can't connect your bank and address to a new PayPal account effectively jewing you out of using their service. This is why we need decentralization at every layer. Having something like:
PayPal <-> chainlink <-> ethereum
Defeats the purpose of crypto when one end is centralized bullshit.

>> No.16126177

>>16125454
Yawn

>> No.16126202

>>16125172
My head feels like a frisbee

>> No.16126205

>>16121856
Unlike you some of us have to interact with the real world
You just stay in your 100% trustless, shitcoin shuffling, legacy connection free bubble, vitalik

>> No.16126262

the reliance on paypal is worrying.

paradigm breaking nevertheless

>> No.16126264
File: 484 KB, 1024x1024, 1546565283858.jpg [View same] [iqdb] [saucenao] [google]
16126264

>> No.16126273
File: 261 KB, 490x619, 9CBD5468-1117-4D0D-96EB-6ABDBDA870FA.png [View same] [iqdb] [saucenao] [google]
16126273

>> No.16126374
File: 34 KB, 425x288, 6457204B-ED0A-4FB7-A08C-CD386C382CA1.jpg [View same] [iqdb] [saucenao] [google]
16126374

>> No.16126380

>>16125380
>My point still stands though
No it doesn't.

>> No.16126384

>>16126262
>reliance on paypal
haha what?

>> No.16126405

>>16126380
>>16126384
are you the new koko the gorilla?

>> No.16126425

>>16120885
>>16126043
what are you preferred methods of cashing out?

>> No.16126435

>>16126405
Explain what you meant by "reliance on paypal".

>> No.16126449

>>16126425
Multiple methods including localbitcoins and direct from exchange. I'm not going to suggest in the slightest that that is ideal and hence the need for something like libra (but more decentralized than libra...) for normies transactions which would be linkable.

>> No.16126488

>project on paper
>ctrl F user 0 result

>> No.16126496

>>16126449
I see; thank you.
well if everything goes the way it's supposed to, maybe you'll never have to cash out at all.

>> No.16126552

>>16126425
kraken

>> No.16126696

>>16126384
Are you incapable of reading?
>Paypal DOES NOT allow the use of its platform for buying/selling crypto just so you know.

>> No.16126790

>>16126696
PayPal can't know what is being traded. It's just an API call and Mixicles makes it all anonymous.

>> No.16126802

If there is no way totell its crypto related Paypal wont give a fuck.
They dont allow it because they dont want to get i to any legal troubles from money launders etc.
If there is no way to know its crypto related at all then they will not give a shit and just happily take their percentage cut

>> No.16126827

But voyager is already killing coinbase and this won’t touch voyager

>> No.16126837

>>16126696
Try looking into how this works.

>> No.16126845

>>16126696
Also, you quoted the wrong post.

>> No.16126868

Have fun getting your site shut down by Paypal.

>> No.16126944

Eventually you won't even need the PayPal intermediary, it'll be a direct bank or card payment. No fees too. Consider the high card fees for coinbase. It's a premium you pay for their reliability and security and easy to use interface. Now if you were to develop a nice pleb interface for trustless smart contracts too...

>> No.16126989

>>16126790
money goes from a tangible paypal account to another.

>> No.16126992

>>16126837
On second thought this could work actually

>> No.16127027

>>16126944
>Eventually you won't even need the PayPal intermediary, it'll be a direct bank or card payment.
Yes but it will still need to be a crypto bank so (((they))) can't just shut it down

>no fees too
Oh no. Have we already been infected with nano-tier redditors.

>> No.16127034

>>16126992
The underlying issue with not having verification in the middle is that it quickly becomes a target for malicious users to abuse the service, and there is simply no way you can prevent this if you intend for a trustless decentralized fiat -> crypto exchange. I can't see this being something feasible. I doubt Paypal would welcome such a service as well if it gains enough traction.

>> No.16127052

>>16122764
Wasn't there potentially 3 DPR's?

>> No.16127053

>>16126989
So? you can’t send people invoices now?

>> No.16127061

>>16125452
it's not worth the risk with all their civil forfeiture bullshit, they can and will seize everything you own just with probable cause and no conviction for money transmitter license shit

>> No.16127076
File: 256 KB, 1323x625, 1563945264464.png [View same] [iqdb] [saucenao] [google]
16127076

Already been done on BSV lol

>> No.16127097

>>16127076
Kill yourself, Pajeet.

>> No.16127170

>>16127097

Have fun getting left behind

>> No.16127285

Oh yes its true
that i like to poo
and the poo I do
I like to smear on you

>> No.16127294

>be chainlink node
>make contracts that use your chainlink node
>buy ETH and make your node claim every invoice is paid for when it's not
>pocket free ETH

inb4 didn't read the whitepaper etc etc
it doesn't matter, that's how it works today

decent idea though
too bad the tech is not decentralized and not trustless

>> No.16127306

>>16127170
have fun running into the wrong direction

>> No.16127332

>>16127294
You forgot the part where you lose all your link as penalty because you were the only node that delivered a false answer

>> No.16127333
File: 252 KB, 708x976, 53D16CDF-B577-4ABF-AFA0-4C7F32D987DF.jpg [View same] [iqdb] [saucenao] [google]
16127333

this is it boïs

>> No.16127345

>>16127332
except those features, staking and aggregation, aren't implemented yet
as I said, that's how chainlink, the current mainnet works.

>> No.16127365

>>16127345
>yet
So what?
Why describing the very problem that chainlink tries to solve in an attempt to fud

>> No.16127380

>>16127365
because it's been almost 3 years and they aren't more trustless or decentralized than any other oracle?
BTC&ETH achieved core functionality within a year

>> No.16127387

>>16127380
>almost 3 years
2
sorry time gets warped

>> No.16127397

>>16127333
checked

>> No.16127448

>>16123586
This was one of the examples which Town Crier had (Steam) before Chainlink even got the licensing.

IC3 are 4 years ahead of it all

>> No.16127465

>>16127345
Aggregation has been implemented since day 1, retard.

>> No.16127483

>>16127465
show me the code

>> No.16127510

>>16127483
Just inspect the code of the aggregator contract on Etherscan you fucking brainlet

https://eth-usd-aggregator.chain.link

>> No.16127517

>>16127483
It's literally on etherscan.
And by the way there is no way the node can see the data it's transferring, because it's encrypted on hardware level via Intel SGX, which has been available since testnet.

>> No.16127523
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16127523

>>16120787
i aint buyin your shitcoin but nice try linklet

>> No.16127532

>>16125172
My favourite part of that picture is the "fuel contract with 1 LINK" button. I dare anyone to name another token with more of a legit purpose

>> No.16127543

>>16123260
>Muuuuh Texticleeees !!!

>> No.16127622

R E Q K T

E

Q

K

T

>> No.16127667
File: 99 KB, 800x450, 1569234949168.jpg [View same] [iqdb] [saucenao] [google]
16127667

>>16127510
this aggregator isn't part of the protocol though, there's no aggregator that'll take care of paypal invoices, you'll have to make one yourself. And you'll have to specify which oracles to use. You have to specifically select which oracles you want to service you, and there's no punishment mechanism if they misbehave, other than you choosing not to use them again. You can write the same contract and just use a couple regular non chainlink oracles and you'll have the same level of "security".

This is my main problem with chainlink, whatever level of security you have, it's not everlasting. I mine bitcoins, they're there forever, I make an ETH smart contract, it'll be there, and work, in 100 years, I make an ETH smart contract that uses chainlink, it requires constant tweaking as individual oracle providers come and go, and even assuming staking exists, I have to constantly make sure that the oracles I chose don't have a strong enough incentive to fuck me over.
Oh and let's just gloss over the small tiny I'm sure unimportant detail that if 90% of my chosen oracles shit on me, the 10% that didn't will get their stakes slashed, and I'll remain shat on. Decentralized oracles are a pipe dream.

>> No.16127697

>>16127667
>90% of my chosen oracles
bizantine fault tolerance has it's limits

>> No.16127702

>>16127667
>this aggregator isn't part of the protocol though
It is, brainlet. Since august.
You aren't competent enough to FUD here, go back to plebbit.

>> No.16127727

>>16127697
Ah, but this isn't BFT. BFT relies on the limitation that the information needed to reach consensus stems from within the network. For a collection of oracles there is no incentive to vote for the correct option, they have incentive to vote for the majority option. Say you have 10 oracles, 4 voted for A (but what really happened is B), and 6 have yet voted, you would be stupid to vote for B, even if it's the truth. There, even 40% is enough to exploit such a system.

>>16127702
>It is, brainlet. Since august.
Then show me the code. What you've shown so far isn't part of the protocol.

>> No.16127742

>>16120787

Sure OP just one tough question for you hopefully not putting you on the spot or anything:

Where do you insert the quarter and where does crypto come out ?

>> No.16127752

>>16127727
>information needed to reach consensus stems from within the network
absolutely not. just the consensus about SOMETHING happening - like the truth of an event happening

>> No.16127812

>>16124189
This. The page looks like shit.
All in link tho

>> No.16127829
File: 213 KB, 2010x1342, 157239847737142.jpg [View same] [iqdb] [saucenao] [google]
16127829

>>16125172
>million times per second around the world
mfw

>> No.16127908

>>16127727
>What you've shown so far isn't part of the protocol.
Read chainlink whitepaper. Aggregation is the core feature of chainlink. aggregation is what makes the oracles decentralized.

>> No.16127915

>>16127076
so cringe

>> No.16127929

>>16127829
hey 42 what's your thoughts on the hackathon

>> No.16127931

>>16120787
Cute theory, but it will never be applied in the real world and you know it.

>> No.16127940

>>16127034
The same "problem" you described is a defining characteristic of all crypto since 2009 though.

>> No.16127953

>>16127345
Aggregation is implemented.
And this Linkpal project is on testnet for a reason you senile boomer.

>> No.16127969

>>16127940
And how would a trustless decentralized unregulated fiat to crypto exchange help in that circumstance?

>> No.16127974

>>16127969
What do you mean "help"?
Are you saying crypto has never been usable or something?

>> No.16127978
File: 63 KB, 1002x888, 1572617567980.jpg [View same] [iqdb] [saucenao] [google]
16127978

>>16127929
voted for linkpal:
https://coinlist.co/build/chainlink/projects/21f894e2-84c1-4648-be69-727f3815ea80

here's a list of them:
https://coinlist.co/build/chainlink/votes

>> No.16127980

>>16127974
I don't understand what you're trying to say.

>> No.16127986
File: 41 KB, 402x640, 1572568647208.jpg [View same] [iqdb] [saucenao] [google]
16127986

>>16127978
>>16127929
this is also interesting:

https://github.com/securedatalinks/LinkTRS/blob/master/LINK%20TRS%20LitePaper.pdf

>> No.16128002

>>16122017
Wtf is wrong with her hands?

>> No.16128008
File: 149 KB, 800x820, 14586755672331.jpg [View same] [iqdb] [saucenao] [google]
16128008

>>16124290
>>16124739
>>16125380
>>16126696
>>16126992
>>16127034
>>16127969
>>16127980

>> No.16128014

>>16128008
>everyone I don't like is leddit
How about you try to prove me wrong instead of shitposting?

>> No.16128019
File: 21 KB, 474x528, 1572539584055.jpg [View same] [iqdb] [saucenao] [google]
16128019

>>16128014

>> No.16128021

>>16128019
pee pee poo poo

>> No.16128131

>>16127978
>>16127986
Chainlinked Cerberus Wallet by Ledger is also nice.

>> No.16128145

>>16120787
>paypal
>trustlessly
those fucks always fuck me over

>> No.16128180

So why isin't it mooning already?

>> No.16128184

>>16128145
the point is designing a smart contract that prevents paypal (and all other parties) from fucking anyone over.

>> No.16128192
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16128192

>>16121636

>> No.16128194
File: 20 KB, 306x306, pepe.jpg [View same] [iqdb] [saucenao] [google]
16128194

>>16128180
this thread should tell you the answer: most people are way too stupid to see how big this is gonna be. they don't even understand it. they think we're talking about somehow forcing paypal to buy crypto for us. that's not what's going on.

>> No.16128224 [DELETED] 

>>16128184
So what's stopping anyone from fucking anyone and getting away with it then? I could send money via Paypal and chargeback and collect free ETH and the seller is on the losing end.

>> No.16128244

>>16128184
So what's stopping anyone from fucking anyone and getting away with it then? I could send money via Paypal and collect free ETH then chargeback and the seller is on the losing end and there is nothing they can do. Repeat this over and over, it's literally free money at that point.

>> No.16128264
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16128264

>>16128244
where does your ETH go? in a publicly open wallet and it can be checked.
Say it with me: no one will be able to lie on a charge back.

>> No.16128290

>>16128264
>where does your ETH go? in a publicly open wallet and it can be checked.
Wow you know my eth address. Are you going to send a hitman to my house now?

>no one will be able to lie on a charge back.
You don't actually believe this, do you?

>> No.16128300

>>16128290
>SMART CONTRACT
send crypto to nowhere!!!

>> No.16128307

>>16127980
The whole point of chainlink is for mainstream transactions to become as programmable as crypto.
The fact that mainstream transactions behave like crypto (irreversibility even in case of abuse) is expected and desired.

>> No.16128323
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16128323

>>16121636

>> No.16128331

>finally we have integrated banks and paypal into crypto

kys cancers

>> No.16128348
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16128348

>>16128331
Fuck off vitalik. Legacy finance is here to stay for the foreseeable future, if you can't understand that you are a legitimate autist or a retarded ancap.

>> No.16128349

>>16128244
No one here’s is going to argue that this is a complete end to end trustless system, but you are missing the forest for the trees. Look at it like this, people are developing actual products using chainlink. There is this PayPal adapter. Someone else made a collaterized debt DAO where you can hedge against market volitility. There’s also some Halo 5 match result aggregator. None of these are ground breaking or insanely cutting edge tech, but what’s important is realizing that people are taking their time to develop on the network. This cannot be said for 99.9% of other projects in this market. This is going to be shitcoin tulip mania 2.0. Are you here to make money or get yourself wrapped around an axle, getting yourself hung up on one project instead of looking at the bigger picture?

>> No.16128353

>>16128300
As soon as the oracles verify that the invoice has been paid, the ETH is sent to my address. ETH seller is happy, I am even happier. I wait a week, cash out my ETH and then file a charge back. Get my money back + free ETH.

>>16128307
>The fact that mainstream transactions behave like crypto (irreversibility even in case of abuse) is expected and desired.
>irreversibility even in case of abuse
So why would anyone want to use a trustless decentralized exchange like Linkpal when it's reputation goes to shit for being repeatedly abused by scammers who charge back every time? Who would want to trade their crypto on such a platform?

>> No.16128363
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16128363

>>16128353
>cash out my ETH and then file a charge back
are you stupid?

>> No.16128366

>>16128244
>collect free ETH then chargeback and the seller
The smart contract tracks the invoice status and takes away your ETH

>> No.16128373
File: 287 KB, 1274x1920, 5E366A1D-FA3C-40D2-9D26-6605F81C4E63.jpg [View same] [iqdb] [saucenao] [google]
16128373

>>16128331
embrace
extend
extinguish

>> No.16128379

>>16128353
Chargeback only works for goods and services. Doesn't work on normal invoices. Also the seller can report you to the cops, since your PayPal account has KYC.

>> No.16128396

>>16128366
>takes away your ETH
doesnt work like that

>> No.16128398

>>16128353
How long is the chargeback period? All you'd have to do is have the smart contract hold the ETH in escrow until the chargeback period is over, which, while inconvenient, is the only workaround to the scenario you dreamed up.

Obv a purely crypto system would be preferable, but the whole point of this is that it's a modular part of the new smartcontract stack. Even if the paypal platform exposes users to downsides, it still shows the utility and underscores how easy it will be to add things like shipping APIs into the stack later on. This is the a one way street and we're just getting into gear.

>> No.16128428

>>16128396
it can if the smart contract is designed that way. for example, the eth might not be deposited into your actual account until the amount of time you have to do a chargeback expires.

>> No.16128445

>>16120787
>27 posts by this user
someone here needs to go have sex

>> No.16128464

>>16128428
thats implementable but not feasable

>> No.16128467

>>16128396
smart contracts work exactly like that. how do you think CZ is lending shitcoins without a collateral?

>> No.16128472

>>16128467
>get money for payment
>have to put it into collateral for some unforseen amount of time
doesnt happen in the real world

>> No.16128477

>>16128363
No, are you?

>>16128379
>Chargeback only works for goods and services. Doesn't work on normal invoices. Also the seller can report you to the cops, since your PayPal account has KYC.
False lmao. You can chargeback on invoices as well. You do know that cops don't give a shit about online scammers and it's very easy to get past Paypal's KYC. What makes you think Paypal would even side with the crypto seller? Paypal favors the buyer almost every time. Tell them it was for a crypto exchange which is a clear breach of TOS and they will perma limit your account.

>>16128398
>How long is the chargeback period?
https://www.paypal.com/us/smarthelp/article/how-long-does-it-take-to-resolve-a-dispute-or-claim-faq1560
>You have 180 days from the transaction date to initiate a dispute on a transaction.

So is the smart contract going to keep the ETH locked up for half a year? Lol.

>> No.16128497

>>16128472
obviously it's inconvenient but the advantage is that it's entirely trustless. and these trustless smart contract fueled systems are only going to get better over time. the sky is the limit.

>> No.16128499

>>16128349
I understand but I'm simply trying to reason with people here on why this project is likely to not be feasible. Services like this will eventually be scammers/carders heaven.

>> No.16128513

>>16128348
You should just buy PayPal stock then you fucking retard

>> No.16128518

>>16128477
if you plan on holding the ETH (or any other coin) for a year as an investment, then that sounds great.

>> No.16128522

>>16128477
>So is the smart contract going to keep the ETH locked up for half a year? Lol.

to be truly trustless? Yes. But this just underscores the flaws of centralized systems more than it does the flaws in trustless ones.

>> No.16128543

>>16128522
yup, the only reason it seems dumb is because we are designing smart contracts to sidestep these awful centralized institutions.

they might fight for awhile but eventually they'll realize they are trying to empty the ocean with a teaspoon. smart contracts are the future, and they'll realize they stand to make a lot more money working with smart contracts rather than against them

>> No.16128544

>>16128522
Checked and quality post

>> No.16128572

>>16128353
this logic is stupid because this can be applied to anything on paypal. buyer gets ebay goods delivered? charge back. bought some btc on localbitcoins? charge back.

and you are retarded to think that their wont be a market place with reputation and address scores for trustworthy buyers and sellers.

>> No.16128587

>>16128543
To me it's a big thing because, despite the flaws in paypal's systems, it shows just how easy something like this is to make.

Venmo and Zelle will come next, which hopefully won't have the ridiculous chargeback option that invites scammers. Then shipping oracles. At that point will have a mostly trustless and vastly superior system that will allow more than the exchange of just ERC-20's, but physical goods as well.

Like I've been saying before (and Sergey says all the time) it's a stack. Just like Kyber and Uniswap were kindsa shit on their own, when combined with robust dexes they give the opportunity for decentralized margin trading.

The stack is only going to grow from here and this is an awesome development even if we all known paypal has been shit since forever.

>> No.16128593
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16128593

>>16128572
yes, you could design a smart contract that works quickly and use it only with people who have a proven track record of not doing chargebacks.

and there could be another smart contract that uses escrow for a long time and is capable of working even with scammers because it's truly trustless.

the sky is the limit

>> No.16128626
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16128626

>>16128131
>Chainlinked Cerberus Wallet by Ledger is also nice.

>> No.16128640

>>16128445
It's called carrying a conversation you buffoon.

>> No.16128658
File: 78 KB, 786x618, 1569454291447.jpg [View same] [iqdb] [saucenao] [google]
16128658

>>16128513
Or I can buy that which will seamlessly connect all of legacy with crypto and usher in the fourth industrial revolution.

>> No.16128671

>>16128587
this. we will see venmo next then binance and it will grow from there. literally anything with an api can be integrated into a smart contract. chainlink will be a platform that all smart contract devs will need in their stack. this is the 4th ind. revolution right here.

>> No.16128678

>>16128518
Sure. In that sense it would obviously work. I can't envision something like that being plausible using Paypal though. It will work for smaller amounts but not very practical if you're trying to buy thousands worth at a time.

>>16128572
Buying/selling crypto is a different story, there's KYC involved from crypto traders on other platforms if you intend to buy/sell which is absent here.

>> No.16128711

>>16127829
does It mean its based?

>> No.16128724
File: 30 KB, 512x336, cffff8.png [View same] [iqdb] [saucenao] [google]
16128724

>>16128671
the best part is we are so fucking close. there really isn't much more development needed. all the pieces are falling into place...

>> No.16128733

>>16126205
Sure. Don't you have to send your betabux to some instagram roastie?

>> No.16128740
File: 413 KB, 600x600, 9d8345a9d31f.gif [View same] [iqdb] [saucenao] [google]
16128740

>>16128711

>> No.16128761

>>16128678
>I can't envision something like that being plausible using Paypal though. It will work for smaller amounts but not very practical if you're trying to buy thousands worth at a time.
Realize, the security flaw you speak of only refers to Paypal. This is a testament to how well designed Chainlink and Ethereum are since the point of failure of a transaction is via Paypal exploits.

>> No.16128775

>>16128678
anon, the takeaway here shouldn't be that this is some marvelous tech innovation in and of itself. I think very few people who are excited ITT actually expect to use this shit or care about buying/selling crypto with paypal.

The real story here is how easy it was to integrate paypal with smartcontracts. Now imagine that with any existing API.... this shit is going to take off like you wouldn't believe.

>> No.16128785

>>16120787
there is no such thing as trustless, permissionless as long as one relies on legacy institutions
it simply doesn't exist

>> No.16128839

>>16128740
thks
boomer old electronics fellow here.
I can't understand half of whats of the memes posted here. I've started my student carreer punching holes on a card to run fortran programs, and after I made it with bitcoin, ETH and the possibilities it opened really impressed me.

>> No.16128849
File: 101 KB, 552x829, 1570579004914.jpg [View same] [iqdb] [saucenao] [google]
16128849

>>16128839
>I've started my student carreer punching holes on a card to run fortran programs
my father was working in robotics and programming in fortran in the '80s
now we're here programming on 4chan more than 30 years later

>> No.16128855
File: 717 KB, 684x1200, 1561170567805 (1).jpg [View same] [iqdb] [saucenao] [google]
16128855

>>16128839
>after I made it with bitcoin
based

>> No.16128876

>>16128733
How dare you?! Rebecca is a nice lady.

>> No.16128879

>>16120787
fake use case #18237712312873

>> No.16128889

Ok here’s a new function to help protect against your concern that scammers will make chargebacks with impunity.

Currently, the smart contract believes the PayPal invoice has been paid and releases the ETH to Bob. Bob has, however, issued a chargeback so he now has his USD and Alice’s ETH. Alice can report Bob to Chainlink, which prompts chainlink nodes to verify that Bob has wrongfully issued a chargeback. The smart contract adds Bob’s PayPal account to a blacklist and he can’t use the contract to scam someone again

Not ideal since Alice is still out her USD and ETH but at least she has some retaliation to prevent Bob from repeating his offense

>> No.16128898
File: 309 KB, 967x1280, pepelink.jpg [View same] [iqdb] [saucenao] [google]
16128898

>>16128775
This. I can't wait for new use cases to sprout up. Exciting times.

>> No.16128922

>>16128775
>I think very few people who are excited ITT actually expect to use this shit or care about buying/selling crypto with paypal.
You're right. I was just too fixated on describing Paypal's flaws that I missed the bigger picture. This anon has a point though >>16128785

>> No.16128923

>>16128889
And while bob could make a new PayPal account and attempt to repeat the offense, this would require him to find new payment methods for which to open a new valid PayPal account, and this process is cumbersome enough to keep bob’s behavior from becoming ubiquitous

>> No.16128952
File: 68 KB, 900x530, 1527636559676.jpg [View same] [iqdb] [saucenao] [google]
16128952

>>16128889

this happens with legacy systems already.
I buy an Item from someone and pay them via paypal.
They send it
I claim they never sent it even though I got it
I keep the item and do a charge back.
Paypal ALWAYS side with the buyer, so I win.

Faggots in this thread are NOT describing a problem with LINK or Eth. they are describing the fucked up problems with paypal.

In that scenario, the charge back is disputed with proof of delivery and postage. these can easily be added to a Chainlink node and checked, with another smartcontract or even the same one. Just like how paypal do already.
If no proof of delivery or postage was done i nthe first place, Paypal normal side with the buyer and the seller gets scammed. Again, this is NOt a problem with LINK or Eth. This is a flaw with Paypal you describe and it's why most retailers hate paypal but use it due to no real alternatives.

>> No.16128995

>>16128952
Dude I’m literally trying to address the problem with PayPal with the blacklisting function.

The anon is right that crypto exchange on PayPal is dicey because the seller can’t say they got the money to make a crypto exchange or PayPal will fuck them. We can’t rely on PayPal to ensure the integrity of the transaction, so we instead rely on chainlink to check if a charge back occurred. If it did, blacklist the user that asked for the chargeback from using the ETH escrow service

>> No.16129029

>>16128995

I see that, but i think you are looking at it wrong. This is just the start. Paypal is a shit platform and another will simply be used for this type of transaction.
Hell, why make a risky blacklist function like that anyway?
I don't think small timers are going to do 1 off trades with this type of smartcontract. It'd simply be a payment solution for merchants who have a reputation to protect. They wont scam you because their entire business will lose its reputation. That is still going to come into play.
In terms of buyers requesting a refund, the merchant can simply show proof of postage if it is for an item, or a proof of delivery. This can be incorporated into the smart contract, or, Paypal themselves can see that)they dont even have to know that crypto was used at all for the transaction as the smart contract takes care of thta allready, all paypal sees is cash going through their system).

>> No.16129048

>>16128194
If you can't get people to understand it then they won't use it.

>> No.16129051

>>16129048

they dont need to. is backend.
do you know how https works anon?
What percentage of people using the intenet know how https works?

>> No.16129067
File: 44 KB, 656x366, geektechstuff_aws_5_pillars.png [View same] [iqdb] [saucenao] [google]
16129067

>>16128775
>Now imagine that with any existing API.... this shit is going to take off like you wouldn't believe.
thats sort of what I was talking about.
really, we can't garantee the future will run on on link, or even eth (you're probably aren't seeing this on netscape), but it will happen. this is whats beatiful about it, not this obssesion with one particular company, or its "tokens", but the glimpse of the future you're able to witness.

>> No.16129082

>>16128353
>So why would anyone want to use a trustless decentralized exchange like Linkpal when it's reputation goes to shit for being repeatedly abused by scammers who charge back every time?
Read how this system works.
Your little anecdote which you admitted turned out to be bunk does not apply.

>> No.16129112

>>16129082
>Read how this system works.
I did and it didnt address my concerns which is why I posted them here. Its far from a "Coinbase killer" like OP presents it to be and I proved that lol.

>> No.16129126

$1000 eod

>> No.16129137

>>16129112
You proved that PayPal has flaws. Give yourself a big pat on the back

>> No.16129179

>>16128922
The bigger picture which is OGs are looking towards is that chainlink+eth are a large piece of the puzzle that is the future fintech systems that will power such things as the derivatives market.

This is a neat impractical hobbyist project that will have little impact on anything outside of this 4chan thread. No more. No less.

>> No.16129180

>>16129137
Still not a Coinbase killer. Trustless fiat to crypto is a shitty use case and Paypal is merely one example of that.

>> No.16129195
File: 2.97 MB, 570x2427, 1559167299747.png [View same] [iqdb] [saucenao] [google]
16129195

>> No.16129214

>>16129029
We’re not talking about shipping big physical goods though. All that linkpal demonstrates is a p2p exchange of fiat to ETH using PayPal as the fiat escrow service. There’s no physical proof that the seller can point to to demonstrate it was a valid transaction.

This app demonstrates a direct competition with something like local bitcoins, so the users would be most likely individuals trying to make a p2p crypto to fiat exchange

>> No.16129237

>>16129180
This greatly reduces the capacity for abuse of the app:
>>16128889

>> No.16129259

>>16129237
It does and so does locking up the ETH in a smart contract for 180 days until the charge back option expires. My point is that its not feasible. I'd like someone to prove me wrong though. Not EVERYTHING requires decentralization and trustlessness. Thats something that some people here don't quite understand.

>> No.16129270

SEC won't allow it, n'est-ce pas?

That's why other attempts like IDEX suddenly complied for US users (and subsequently became irrelevant).

Sure you can use a VPN and spoof your location, but... that didn't save IDEX or other exchanges that tried it because not enough people are doing it.

>> No.16129274

>>16129259
>Not EVERYTHING requires decentralization
Decentralized fiat-to-crypto (and back) is one of the most iconic use cases for oracles.

>> No.16129277

>>16129214

So, what if a platform rival to LocalBitcoins set up.
Sellers and buyers indeed have a reputation on the rival platform, except now we have an easy banking option with a smartcontract escrow instead. Basically localbitcoins but much, much better.

It enables banking access more easily for many services in crypto at least

>> No.16129284

>>16129259
It’s not really a question of whether something should or should not be decentralized, it’s how best to handle the seam where centralized custodial services meet decentralized networks. I personally like the idea of being able to do this sort of exchange without needing to go through another kyc exchange service beyond the service I already use (PayPal in this case)

>> No.16129297

>>16129274
Literally not feasible with legacy systems. There are simply too many flaws. You could make a dozen conditions but in the end it would be simply be easier to get the job done on a different platform.

>> No.16129302

>>16129297
>Literally not feasible with legacy systems.
Hence why mainstream smart contracts (the kind powered by oracles) are such a big deal.

>> No.16129304

>>16129270
at a certain point they'll have to admit defeat, for the same reason they couldn't kill bitcoin or torrents. Chainlink doesn't need permission to pull API data, as long as you have public APIs you can use LINK to make contracts based off them. PSD2 made a lot of us think that the regulators realized this and it's only a matter of time before smart contract connected bank accounts are a thing. Paypal is just an obvious first step.

>> No.16129314

>>16129302
>You could make a dozen conditions but in the end it would be simply be easier to get the job done on a different platform.

>> No.16129323

>>16129314
What do you mean "different platform"?

>> No.16129353

>>16129323
An established platform like Localbitcoin in this case. I dont need to put my shit up as collateral for X amount of time before having access to it just to make sure I dont scam, I can seal the deal in minutes.

>> No.16129376

>>16129353
Sellers need to put up collateral on localbitcoins

>> No.16129377

>>16129353
You can kick and scream all you want; decentralized crypto-to-fiat exchanges are coming.
And that's just a tiny part of what mainstream smart contracts will do.

>> No.16129402

>>16129195
That chart needs to be updated to include the bear of 2018 and subsequent bull of 2019.

>> No.16129422

>>16129377
And they will fail. Like I said, its a shitty use case and time will prove this.

>> No.16129442

>>16129422
>decentralized crypto to fiat
>shitty use case
Fucking lmao, it is probably THE use case for actual smart contracts.

You are so very obviously and hilariously biased, probably working for a competing project of some kind.

>> No.16129464

>>16129442
Yes. Decentralized p2p fiat to crypto will fail.

>> No.16129486

>>16129464
Alright buddy.
Meanwhile in the real world, fiat-crypto-fiat smart contracts are going to be the undercurrent for how crypto will work from now on.

Good luck with whatever competing project you have going on.

>> No.16129519

>>16129486
Again, too many flaws, too many conditions to be set and abide by that makes the whole process a hassle to curb abusers. If everyone was a good person then this would not be a problem. Shitty use case.

>> No.16129528

>>16129519
that makes the whole process a hassle just to curb abusers***

>> No.16129575

>>16129519
>>16129528
Decentralized fiat-crypto-fiat is uncharted territory to be sure, but it's going to happen simply because nobody will be able to stop it.
If you can trustlessly feed the fiat price of a crypto into a smart contract, you can trustlessly transact fiat to crypto and back. The rest is absolutely trivial.

>> No.16129611

>>16128952
as if only paypal is doing this...
if you have a faulty charge on your bank account you can call in for claim back
the same with normal bank account charge too.
the same when you buy something in cash in some store. most of the time you can go in and get your charge back if something is faulty etc....

this is just the way retail transactions developed. most of the businesses are voluntarily thrust out money or inventory in order to make the customer happy/ so that they are coming back. they theoratically really dont have to - but this just established as the common ground to business nowadays.

its just the fact that the average joe (customer/consumer) is not as perfect and mature so they themselves want to rely on some other institution/entity that has the ability to set their shit in order again. they DONT want to be self-reliant!!!

smart contract and their oracles are too logically/binary to be appliciable for irrational humans.

>> No.16129633

>>16129575
>uncharted territory
Are you the missing the entire point I've been trying to make? This shit attracts plenty of scammers because its completely unregulated and so easy to cash out. In turn no one will want to use these shitty decentralized exchanges because the risk of getting fucked over is high. To prevent this, you come up with set conditions like "buyer's ETH is locked up for 30 days" type of bullshit which is a hassle and can be completely be avoided by using traditional existing exchanges. What part of this dont you get? Not everything needs to be trustless and decentralized!!! Holy shit.

>> No.16129680

kek, if anyone thinks this will actually be used. this is worse than the "REQ x LINK paypal killer"

>> No.16129775

>>16124570
>Based. You can send an invoice to someone with no information. No way of PayPal knowing.
the API triggering coming frim the smart contract is how they will know. The oracle does that part. So it is traceable. The point is that it is a payment request, and not a crypto to fiat/F2C transaction directly on Paypal.
>>16124739
>So how will it be able to pull information that user A has sent user B an invoice? That is not public information.
Learn about REST API my friend. The payment request gets set up FIRST, then the payment request ID is used during the smart contract creation process.
>There is no legal wiggle room with Paypal. Many have tried and failed. You will get fucked.
So are they going to turn off their payment request services then? Explain to me what part of a payment request between two parties is illegal? If that is the case, their entire services needs to be shut down. And you can't tell me drug shit doesn't go down over PP & Venmo currently.

>> No.16129818

>>16129775
>Learn about REST API my friend. The payment request gets set up FIRST, then the payment request ID is used during the smart contract creation process.
I realized they will be making use of shareable invoices so forgive me for that comment.

>So are they going to turn off their payment request services then? Explain to me what part of a payment request between two parties is illegal? If that is the case, their entire services needs to be shut down. And you can't tell me drug shit doesn't go down over PP & Venmo currently.

Read my later posts, I did say that it might work but I've explained in depth on why it is not feasible.

>> No.16129843

>>16129818
>Read my later posts, I did say that it might work but I've explained in depth on why it is not feasible
there are some hurdles to get over, but companies tend to give less fucks once the money train starts rolling. If smart contracts pan out the way we think they will, there will be a very wealthy payment processor involved in the end. PayPal will have to adapt or get destroyed.

>> No.16129851
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16129851

>>16129775
>the API triggering coming frim the smart contract is how they will know. The oracle does that part. So it is traceable. The point is that it is a payment request, and not a crypto to fiat/F2C transaction directly on Paypal.

>he doesnt know about mixicles

>> No.16129853

>>16129680
Careful. You should delete your name and trip when not making your larp threads.

Wouldn't want another "Unironically, LINK" misshap.

>> No.16129873

>>16129633
You sound like Oraclize a couple of months before they bent the knee. Good luck with your pajeet tier exchange, buddy

>> No.16129896

>>16129843
You're overlooking my concern about people abusing the system. There can't be a lenient payment processor because in that case it will be extremely easy to fraud your way to riches. I cannot see decentralized trustless fiat to crypto exchanges (been repeating this phrase for like the 100th time now lol) working. There are too many things to account for and it makes it a big hassle. If the company only cares about the money at the cost of innocent people being scammed then how can such a company prosper? Do you see where im trying to get at? Read >>16129633

>> No.16129906

>>16129873
How about you come up with a proper rebuttal then? I am heavily invested in LINK and I am just trying to rationalize why this is a non feasible use case.

>> No.16129922

horrible thread

>> No.16129929

>>16129896
so this is a good example of where a reputation system should be used. It will have to be harddened, and that takes time. It'll have to be wild wild west to start, no matter how you look at it. Good products are born from the ashes of semi-illegal systems.

>> No.16129945 [DELETED] 

saging this shit fuck all of you

>> No.16129959

>>16129945
heard you the first time faggot. kys.

>> No.16129973

>>16129906
multiple anons have rebuttaled your pajeet level fud and it has whittled down to
>There are too many things to account for and it makes it a big hassle
But you are heavily invested in link so I guess you know what you are talking about

>> No.16129975

Great thread.

Based and redpilled.

Reason why I still visit. FUCK jannies.

>> No.16129976

Bump

>> No.16129986

>>16129906
>30 posts by this user
GET A FUCKING LIFE

>> No.16130021

>>16129929
Perhaps you may be right. There's many ways to go about this I guess. We'll just have to wait and see how things pan out. I hope I am wrong and things turn out to the opposite of what I envision.

>> No.16130066

>>16129973
All actual genuine concerns lmao but ok buddy.

>> No.16130090

>>16129633
>This shit attracts plenty of scammers because its completely unregulated and so easy to cash out
You're talking about all of crypto since 2009.

Read my lips: you cannot stop decentralized fiat-to-crypto.
As soon as you can trustlessly enter the fiat pricing of crypto into a smart contract, there's no going back.

Again; good luck with whatever competing project you have going on, but you better wake up to reality.

>> No.16130127

>>16130090
>Again; good luck with whatever competing project you have going on, but you better wake up to reality.
What makes you think I for a competing project or any project for that matter? Are you schizophrenic?

>> No.16130183

>>16130127
Because it's very obvious.

Fiat to crypto is the absolute most basic form of mainstream smart contracts.
And nobody says shit like "mainstream smart contracts will never work" unless they're either fully ignorant, retarded, or have a vested interest in a competing project.

>> No.16130233

>>16130183
Why yes I'm a developer at Witnet.

>> No.16130303

>>16130233
please buy mobius oracle coin sirs