/biz/ - Business & Finance

no you didn't. you paid $4.50 for an erc667 token :^)

the dumbest fucking idea in the world

every financial institution and ethereum were going to use centralized oracles; which are faster and more reliant than people give credit for.
But then comes along fat fuck sergey who payed off SWIFT with NxT money to use their logo
>YOU DONT WANT CENTRALIZED ORACLES
>CENTRALIZED ORACLES COULD BE HACKED
>BUY DECENTRALIZED ORACLS :DDD
so then, every single centralized oracle project, technology that could deliver data at instant rates without costing companies anything, all went bankrupt because MUH DECENTRALIZATION.

but one problem
CHAINLINK IS NOT DECENTRALIZED AT ALL
Sergey had gotten an endorsement from SWIFT without Chainlink network even being built. They literally sold them on the idea of chainlink, but not the actual tech.

As more time went on, ChainLink was revealed to not actually have some advance clever technique of decentralized information; they are just going to take the average of multiple sources and say thats the official answer.
This is where a LINK token comes in. Whoever owns the most amount of LINK, gets to decide what source is the most accurate. Anyone who owns enough LINK can cancel out sources for the ones they feel is most right. So, in order for chainlink to work, banks would have to have billions of chainlink at all time to make sure there is no rogue source of data.

And heres the kicker, the way this network works is you have to pay fees in chainlink tokens to process data. Thats sergeys solution to prevent rogue bad data from getting through, make it so the data processing fees is so high, only the right data source can pay the fees.

Halfway through this abomination of a project, Sergey realized
>oh fuck, any random neet can own a bunch of LINK and corrupt the data
so Sergey implement KYC centralization; so that no banks have to use any data from a source that isnt KYC centralized. This means banks will only be trusting other banks for information since they have KYC
So basically; centralized

>>18005649
they havent even solved the oracle problem either. it's a scam

>>18005649
I think it is an ERC10 now.. but now is not the time for anyone to speculatively buy a useless token "somehow" attached to a web scraper. There is no network, so all they can do with it is sit around and hope for a greater fool, but all the greater fools are already broke. It will probably go to zero and be replaced by some other up and coming project that hasn't yet had time to fail in plain sight. It will probably be RSR next from the shilling patterns.

>>18005649
and literally no-one uses smart contracts for anything anyway. i cant believe people dont see the writing on the wall for this project

>>18005649
>Buying into meme coins of any kind at this point.
Just do forex.

>>18005810
they do, there are just groups of bagholders that got dumped on/held down by Sergey cashing in. It could have pumped early on before the scam was so exposed if he didn't dump and cash out on them. He obviously knew it wouldn't last much longer. It's probably going to end up like Siacoin or OMG or some other "obscure fake tech" type scam at this point.

>>18005649
*erc10
Vitalik downgraded it

>>18005810
>i cant believe people dont see the writing on the wall for this project
the problem is, Sergey is a god-tier lobbier. The whole marketing of Chainlink is genius

Sergey makes off with multi millions after NxT money. He pays SWIFT a shit ton of money to get SWIFT to let them use their logos on his website and presentations after who knows how much convincing. Chainlink goes up, he proceeds to pay off huge shitcoins like TRON, coins that have no value at all
>TRON WILL START USING LINK ORACLES :DD
and he slowly convinces other no use shitcoins like Oraclize and RLC to use LINK fooling everyone into believing that actual important entities like JP morgan will succumb to link.

Theres a reason why notorious scam shitcoins like TRON are all for LINK, but actual important people like Vitalik have been labeling it a shitcoin since day 1.

>>18005893
i sold recently at the 2.70 mark. bit sad i didnt wake up to the scam earlier ona nd sell for more. i think crypto in general is fucked, actually worried abt holding my money in tether at the moment desu

>>18005649
which exchange did you use anon?

RC19 now I heard

>>18005906
Vitalik along with the elders of the Ethereum ratings Council downgraded it to ERC10. Its unironically ogre for LINK now.

It was supposed to be pegged to a cup of coffee/bigmac too and now its even dropped below that. I've sold all mine, took a big hit on it but at least I got out with something

>>18006628
SirGay gave me a blumpkin as an apology for my 500% ROI

Guys we can still do this with nulink.

Just all get $20 worth and we shill it to the banks until they buy it.

I am doing this. My time is much better spent trying to moon a million tokens that at least have a competent dev team that has a lot of advancements on chainlink.

>>18005649
thanks

>>18005649
Are you retarded? Futures were just halted, Monday will be a blood bath

>>18005954

Are you really typing out pages bashing a coin you don't own? It's not like taxes, no one is forcing you or him, find a life or kill yourself man because you are clearly on edge over things that don't concern you in the least.

>>18009841
>no concerns
if LINK ever gets mainstream use, do you realize how fucked we are
>all data will be completely wrong since its the average between multiple sources (even the wrong ones)
>businesses will require costumers to pay a feed for data since it costs money to use the LINK network

imagine having to spend money on wrong data. chainlink is a nightmare for the entire world

>>18009841
>Are you really typing out pages bashing a coin you don't own? It's not like taxes, no one is forcing you or him, find a life or kill yourself man because you are clearly on edge over things that don't concern you in the least.

You shitstinkers have been shitting up the board for years. Flooding it every single day with shill threads trying to make pajeets buy in to your scam. Even half of that shit you have done would be enough for people to want to bash your chinkshit.

>>18005649
>>18005712
it amazes me so many marines aren't aware of the downgrade to erc10. this was the first warning sign something was amiss

>>18009480
Already ahead of you

>>18005649
You're too late for the crypto scam

>>18012087
i honestly thought was a joke it got downgraded at first, lol

>>18005697
this
the idea of a decentralized oracle is still a total pipe dream and Chainlink is not anything near a proven concept. if there were a decentralized oracle it would be worth buying, but you might as well be waiting for the philosophers stone