/biz/ - Business & Finance

bump

>>21620346

The centralized shitoracle

>>21620346
there can be multiple but do ((you)) use bing or google to search for trannies?

>>21620346

One large network is infinitely more valuable than many small ones

>>21620588
One oracle network to rule them all,
one oracle network to find them,
oracle network to bring them all
and in the darkness bind them

>>21620346
Because first mover advantage, like always

>>21620346
and why is it flare?

flare.ghost.io

cause real platforms has built in oracle function.
so will eth soon

>>21620346
Anyone can run a Chainlink oracle any way they want.
Whatever contract they want, whatever security features, whatever smart contract backend (ETH, Cosmos, EOS, Tezos, ...), however many nodes (from 1 to infinity), ...
Nodes can even choose to work for free, charging absolutely nothing.

Every node is basically their own oracle solution.

>>21620908
Wrong

>>21620908
How are you this ignorant.

>>21620996
that linker on github has no idea what he's talking about. neo has had built in oracle since 2017

>>21621201
And how does "NEO built in oracle function" works? Space magic?

>>21621201
He's a higher-up at NEO, pleb.
https://blockchainconferences.io/speakers/longfei-wang

Meanwhile that Kyleleblanc guy doesn't seem to be connected to NEO at all.

>>21620346
there is only one lord of the cube. and he does not share power

>>21621252
same way they achieved 10000 transactions per second vs eth 15 and multiple coding languages i guess.

you know eth 2.0 is just coping neos old proof of stake mechanism right? now they're also trying to make the same gas model and the whole deal. the price only represent how many memes was made literally. the market is that retarded.

>>21620996
god i hate reddit and idiots like this

>>21620346
To be fair, you have to have a very high IQ to understand how Chainlink works.
Its superiority is only hinted very subtle, and without a solid dose of advanced autism most of the Lambos will go over a typical investors head. There's also Sergey Nazarovas very nihilistic outlook, which is deftly woven into his characterisation- his personal philosophy draws heavily from /biz/ shitposting.
The real frens understand this stuff; they have the intellectual capacity to truly appreciate the depths of this coin, to realize that it’s not just funny- it also says something deep about society.
As a consequence people who don’t trust Chainlink truly ARE idiots- of course they wouldn't appreciate, for instance, the genius in Nazarovs iconic catchphrase "Get in here faggot, we’re gonna save the blockchain," which itself is a cryptic reference to the Russian epic 'Crime and Punishment' or the struggle of life itself.
I'm smirking right now just imagining one of those addlepated simpletons scratching their heads in confusion as Sergeys genius wit unfolds itself on their screens. What fools.. how I pity them.

And yes, by the way, i DO have a QR Code tattoo. And no, you cannot see it. It's for the ladies' eyes only- and even then they have to demonstrate that they're within 5 IQ points of my own (preferably lower) beforehand. Nothin personnel kid.

>>21621384
tfw it's already the age of orks

>>21621201
oops this one but yeah..
god i hate reddit and idiots like this

yeah this complex issue, neo is just gonna fix on the side with no authenciated api access and no security mechanisms
its the smae with all these projects, tezos, cardano too, they have a couple of young engineers who go oh yeah easy we can easily figure out the oracle problem by ourselves by... applying blockchain concpets to it!!
sergey rips this thking apart here: https://thedefiant.substack.com/p/defi-builders-are-neglecting-data-33a

>>21620908
>built in oracle function
Now imagine you have a contract that involves two parties who each want to use a different blockchain for the same contract: a public one (e.g. NEO, ETH, ...) and a permissioned one (e.g. Hyperledger, Corda, ...). Or multiple variations thereof in a single contract.
Good luck getting any kind of coordination.

Plus, a large use case for Chainlink is cross-blockchain communication. Again, good luck with that if you want to use proprietary oracles for each chain.

Not to mention the fact that an oracle system that is used for ALL blockchains will obviously have a lot more experience, reputation, stress testing, bug finding, options, scope, ... than an oracle system that only serves one blockchain.

Go cry in the corner.

>>21621477
here for lazy:

The second issue is that —and this is something we take very seriously and I've done a presentation on recently and I advise anybody building an Oracle mechanism on their own internally or whatever system they use to look at very seriously— is I've seen one or two oracle mechanisms where people do not take into account data quality. So, they basically ignore the fact that in traditional finance there is a large group of data companies like Bloomberg, Reuters and others, that are hugely successful companies in hugely competitive markets, because they smooth out risks related to data.

And there's people that basically say, I'm going to completely ignore all the risks from data, I'm going to both make a data aggregation methodology and I'm going to build an oracle mechanism, so I'm going to do both. I'm going to create a data company and I'm going to create a piece of software that's meant to provide security about the transportation of data. And then they begin to make all the mistakes that people who have never made a data company make, which is why we don't do that.

>>21621525
oops wrong paras

There's these two approaches that I see the people solving this problem. One approach is I'm going to take blockchains and I'm going to replicate everything I do in blockchain-land on to oracles. That usually misses the point of the key problem you're solving. The key problem you're solving is highly reliable, highly secure, highly available access to external systems, which you don't even know if those systems are secure, so you then also need to deal with that problem. And so that blockchain approach of, “it's just a blockchain but different,” is one of the first issues.

The second issue is that —and this is something we take very seriously and I've done a presentation on recently and I advise anybody building an Oracle mechanism on their own internally or whatever system they use to look at very seriously— is I've seen one or two oracle mechanisms where people do not take into account data quality. So, they basically ignore the fact that in traditional finance there is a large group of data companies like Bloomberg, Reuters and others, that are hugely successful companies in hugely competitive markets, because they smooth out risks related to data.

>>21620908
fucking neo idiots
eth has no features, point 4
https://eth.wiki/en/fundamentals/design-rationale

>>21620346
In order to understand the answer to this question you have to look into the future
Let’s say it’s 5 years from now and we are storing digital assets in our bank accounts. Large financial institutions are issuing digital assets and they’re trading on large exchanges like the NASDAQ.
The USA issues it’s own digital dollar that’s backed by gold and silver, and it uses ChainLink oracles under the hood.
Mumbai, wanting their own digital rupee, decides to follow suit. They are using band protocol to make their rupee an exact replica of the USA digital dollar, with an equivalent mix of gold and silver.
But because they are using different oracles, the band protocol oracles apis occasionally tick for gold prices at different than the ChainLink ones.
This doesn’t work. If the dollar says gold is $2000, and the rupee says gold is $2001, and I buy a shit ton of rupee, I am getting ripped off. Oracles are a winner take all and ChainLink has first mover advantage. We won a long time ago.

>>21621508
retarded-tier thinking
take a look at maker's post about why chainlink is useless to them and why they're focusing on their own oracle service
this is a sector growing exponentially right now and no one's going to give up and give their business to chainlink just because they have good data feeds and more experience thus far, when they could compete since they have all have more than enough funding
imagine chainlink is amazon, but they only have their AWS service, which is fantastic because their AWS service is huge
now think of maker, think about it from their perspective
are they going to not compete and give up a huge market by allowing "AWS" to run their "cloud computing"
nope
they're going to continue developing their own and compete
i hold link, have since just after ICO, and still have 75% of my stack
but i'm not retarded, competition is good and i bought into all native defi tokens as well as all tokens on defi protocols developing their own oracle services, and even band when it was $2 just months ago
so fuck off with this retarded shit. stop being a loyalist and step back and realize you can make money by not being attached to something just because you've been brainwashed into thinking their market share can never be eaten into
i mean, just the fact that you idiots think chainlink will have 100% of market share boggles my mind
no wonder you're all up 24/7 watching charts wondering where the top is, all your money is tied up in link and any thought of competition sounds absolutely ridiculous and impossible to you because your brain can't accept the fact that you might not ever realize any substantial gains

>>21621477
>they have a couple of young engineers who go oh yeah easy we can easily figure out the oracle problem by ourselves
newfag programmers always reinventing the wheel while not delivering a product. many such cases

>>21621584
>Oracles are a winner take all
damn, you guys must've put every bit of money you had into link to deny logic and say shit like this to not have a panic attack any time a competitor steps in

>>21621743
>their own oracle service
we've heard it all before
witnet, mobius, doracles, bandicles, flare
they are all pepsi to Sergeys coke

Most places will use multiple data sources to stop any kind error

i'm happy for all you who made great returns on your link investment and hope you cashed out at the top, but the amount of self brainwashing/circle jerking that's been going on here the last months is priceless.

the link token can surpass ethereums position and you idiots will still argue how it's underrated and still the best investment. wake up, it's only one approach to one out of hundreds of relevant issues needed to be solved for both neo and eth. imagine if all the other issues also made a cult about every solution

>>21621743
>take a look at maker's post about why chainlink is useless to them
LMAOOOOO
What you're referring to was some butthurt Maker stooge.

Pic is the actual founder of Maker talking about how it's a "great idea" to integrate Chainlink.

>>21622017
this, and also companies with way more funding (real $, not in token market cap that sergey has to sell every so often to pay the bills and hire new people) are already developing decentralized oracles that have direct ties with data providers
there's one project that's being funded by 3 of the largest data providers that chainlink uses right now
you think they're putting actual $ into development which is finished and in testing on something that they're not willing to drop chainlink for?
that's capitalism baby
i'm just trying to time my exit out of link before this shit, and i got greedy and didn't sell at $20 like a retard
anyway, i hope you retards do get out with some nice realized gains and open your eyes to how the world really works

>>21622017
>>21621743
Also, can't help noticing that you have absolutely no rebuttal for this: >>21621333

>>21621743
>you idiots think chainlink will have 100% of market share boggles my mind
competition is fine but there is also network effect and pareto. most of the market will be eaten by just one single provider. might not be link if sergey fucks up but unlikely at this point

>>21622120
i was using that as an example since he's the one heading dev on their oracle network, and ofc the founder of maker said that, they believe in redundancy, which is essential for decentralized oracle networks
but you guys don't seem to think so
but this is all pointless to talk about since the chainlink's 3 largest data providers funded their own project over a year back and the timing is perfect taking it live within the next month with all the hype surrounding chainlink, the 2 out of the 3 using chainlink will either drop them or use them for redundancy

>>21622135
>there's one project that's being funded by 3

I think we just all want to make some money. So let’s say the name bruh.

>>21622189
>i was using that as an example
And once again you were BTFO.

Both NEO and Maker are behind using Chainlink.
Sorry.

>>21622244
there's no native token for it yet, network's done but as of right now only investments were made through the 3 largest data providers (exchanges) for chainlink
so chainlink still has other big data providers outside of these 3 exchanges, but look into it and once they do come out with a token, i'm not sure how they'll do the sale but i'm keeping dry powder on the side ready to buy
i can only assume they're going to really want to launch in no more than a month or 2 since the hype around this is huge now because of chainlink paving the way
i'll still be holding onto most of my link too i think, we'll see, the landscape will be shifting quite a lot with defi growing exponentially as well requiring these services
also vitalik PLEASE eth 2.0 :(

>>21622189
You really don't get it eh... Those guys and Mariano have worked on it for years and are now being replaced in part cos they're so slow to market now. Would yoh defend something you had a hand in creating?

>>21620698
Your post reminds me of Robert Baratheon explaining to ned stark what is bigger, “one or five” but technically it’s the complete opposite in this situation.

>>21621780
What?

>>21622266
my man, i'm not arguing with you, i'm just saying what i know. i'm not a loyalist to any of these things, we all know what big money does after they see there was a demand for something they didn't care much for until they saw the demand.
if you don't think the landscape is going to change drastically with dec. oracle networks and defi as a whole, i don't know what to tell you. you've gotta stop believing in something so much that you're willing to stake your entire bet on it. you have to realize that VC firms and data providers themselves that have actual $, unlike chainlink who needs to sell their native token for funds, are pumping that $ collectively into something they can own and profit from.
this is how it always goes. come on, don't be a dummy.
like i said, i still believe in chainlink and sergey, without him no one would give a shit about this, but it's reached the tipping point where the big boys are going to want the lion's share of profits for themselves.
i'm not dumping my link though because i believe people will use link as well as this next network and also even shit like band because CZ is shilling and backing that. there's a lot of change coming and adoption is about who's profiting from you and how big they are.
anyway boys, we're still all in this together, but take your blinders off so you can make money on everything rather than make a little bit with just one.

>>21621743
I said the exact same thing a few weeks ago telling people to buy Tellor at $4, it's since gone up to $50. Coin loyalty is worthless, market sentiment and hype cycles are everything

>>21620346
Qnt had meeting with London stock exchange and 3 major banks. Overledger will connect their blockchain

>>21622427
competition is a good thing as always but its highly probable that, when the dust settles, chainlink will be the only oracle solution in mainstream use.
At this point, all the collateral in the other projects will migrate to link

>>21622501
>my man, i'm not arguing with you
Not anymore, since you got BTFO so hard.

>>21622523
>Quant
By my count, this is the third active Chainlink partner that has been proposed as a Chainlink competitor itt so far.

>>21622507
thank you, this guy has another great point. if we set aside actual adoption and tech, the hype generated has created insane % gains for those of us who held link but also bought into TRB and BAND. i got BAND for $2!! it went to $18 in 2 months! you guys could've been millionaires by now if you could just see that it's all hype driving these prices. people don't really give a fuck about the tech or adoption, and these small market cap competitors like TRB and BAND that are being backed by actual capital cause people to buy in due to the fact that they can move way more
loyalty in the markets is retarded and keeps people poor
you know what's fucked up anon? you're the first person that actually understands this that i've seen here. ive been trying to tell these fuckin guys for so long and people made fun of me for buying into band, trb, then when i pull in the same % gains in months that took my link 3 years, they tell me the tech is bad and it'll never be adopted.
no one gives a fuck about adoption! we're here for the $$$$$
if you think about it though, it's not just the markets. loyalty is a trait of the poor, so i guess some people can't be helped.

>>21622637
Nobody's arguing that you can't make money on useless coins.

I'm arguing that "in-house/native/proprietary/built-in/..." oracles are vastly inferior to a single overarching blockchain-agnostic oracle standard.

>>21622559
poor loyalist, i feel bad for you. you're thinking about the tech. how long are you willing to wait to realize your gains? another 10 years?
mentality of the poor, i really do feel sorry for you
my band and trb alone made the same returns as my link did in 3 years, except in a matter of months because i'm not retarded and i see a clear play on the hype. it's literally the simplest play to see too. the fact that people like you are this dumb to not take free $, huge gains, boggles my mind. sergey will never even know who you are, but you'll sit here defending him and his company while he dumps 500k a week to fund his project. and please tell me all about why he needs to do that, i'm going to bed, i'll read your reply tmrw maybe.

>>21622683
>Nobody's arguing that you can't make money on useless coins.
please, the way you talk, you're as loyal as a dog. we all know you haven't owned a single token outside of link. i'd bet my life on that. goodnight anon, stay poor.

>>21622694
DIA next

>>21622694
>>21622717
Link fudders:
>crypto project X will have its own native oracles!

Me:
>blockchain-independent oracles are vastly superior

And you're calling me a loyalist lmaooooooooooo

>>21622726
holy fuck another smart anon. you know i've had that DIA boo ;)
this turned out to be a good night actually, i ran into the only 2 non-loyalists on here that care about the one thing that matters: $
cheers fellas

>>21622740
? i'm pointing out the fact that they will develop and compete
whether they're good or not doesn't matter, people buy into the hype
are you this bad at reading and comprehension? tell us the truth, how many times did you have to read chainlink's whitepaper to understand it. come on bud, i know you've got run through at least 15 pens taking notes on it to defend the guy who owns the company who owns the native token which makes up 100% of your portfolio
go to bed nigger, i've gotta go too, stop keeping me up. you're too retarded to get through to.

>>21622637
Hmmm your math is somewhat wrong...
0.20 to 20 isn't the same % rise as 2 to 18

>>21622827
I already told you I'm not here to argue against hype equalling $.

I just think it's absolutely hilarious that you're calling me a "loyalist" when I'm out here telling the NEO, QNT, Maker, ... loyalists how and why they're retarded.

>>21622867
ya, congrats on pointing that out. my point was you can make stupid gains if you think "well shit, with the hype around [x] right now, what's low market cap that's going to pop"
i got in late at $2, a lot of people got in at $0.30 and got out between $16-18 within 3 months on band
i'm just trying to show you guys that you should be worried about making money because it's stupid easy with the hype around defi and dec. oracles right now
just a little research and making sure sentiment is rising enough on something and boom there's insane gains
then you can take those gains and buy even more link if that's your thing
just don't leave free money on the table

>>21622938
What do you bet on next?

>>21621201
>Taking someone serious who doesnt even know what the token is for or let alone a decentralized environment

>>21622938
>>21622827
>>21622760
>dude, just chase hypecoins

No thanks, I invested in actual merit in 2018 and ever since then I’ve been making bank while sleeping like a baby.

>>21622881
well yea because you're also a loyalist
99.9% of you on here hold an asset and support it like you're supporting your country's football team and you're willing to fight other hooligans, errr loyalists
when all of you are leaving $ on the table
anyway seriously i'm off to bed i'm fallin asleep bud i don't actually hate any of you, i just hate that you guys call plays dumb then when they make crazy gains for people in insanely short timeframes due to the hype from the initial project (like band and trb riding link's coattails) you guys then resort to saying well the tech blah blah and they'll never be used low quality data errr bad chainlink #4iR
it's gotta stop
i thought this was a place for people who liked money
not unrealized gains

>>21623035
>you're also a loyalist
Yeah, I'm a loyalist for the project that shits on loyalists by design.

>>21620588
If google started charging $30 a month and bing charged $10

>>21623093
That doesn't make any sense.

How much you have to pay for Chainlink is entirely up to the nodes.