/biz/ - Business & Finance

you'll sea, eventually

sirgay being moderated by a pajeet. you can't make it up

>>23028973
>Insurance in largely a scam, and it’s all he’s talked about for three fucking years
finally, you're starting to get it

>>23028973
Yes goy...its all a scam

>>23028973
It totally is a scam, but its an extremely profitable scam. A guy I used to go to school with currently makes close to $300k/year selling life insurance policies. It can be EXTREMELY lucrative from the point of view of the insurance company. Decentralized insurance will probably be a huge industry in 10-20 years.

>>23029000
south east asia?

>>23029238
>Decentralized insurance will probably be a huge industry in 10-20 years.
https://insnerds.com/lemonade-hype/

If you aren't paying attention to crop insurance right now then you should be. It will become very relevant later.

>>23029290
This guy absolutely gets it. Invest in LINK

>>23029287
Thats why I said 10-20 years. The cream always rises, and now that the genie is out of the bottle, it wont be going away.

>be conventional crop underwriter
>use AccuWeather and assessors
>pay out for damages

Chainlink not needed. What damages do chainshit nodes suffer if they all pull the same weather api and the company providing the weather information has to issue a correction? What happens when farmer y was damaged by severe weather event but farmer x was not? You chainlink cultists can't even answer basic questions because fundamentally you know it's a scam. You cannot deterministically verify off chain data created and interpreted by humans. It's that fucking simple.

>>23029755
checked and REKT

>>23029755
>paying people to check the weather when you can pay one guy once to build an api call and then use it to ping AccuWeather whenever
>paying people to execute a contract
ngmi

>>23029201

Why are people posting blatantly fallacious arguments against chainlink

>>23030321
>execute contract
>frost event did not destroy oranges of a covered farmer

Now what retard?

Here, let's make it more complex
>only 1/3 of the crop was frost damaged

So how does the contract work then? There are so many variables and the only viable solution to the insurance problem is having literal humans to go to the scene, assess and write out an adjustment. Anything else is straight cope bullshit. Retard bagholders can get fucked.

>>23030789
Wtf someone needs to tell Sergey about this. What an oversight

What you need to understand about speculative investments is that part of the risk is putting faith in people who are smarter than you. I can't every answer every question about Chainlink or Ethereum but I have faith that people with more knowledge than me could

>Apple says they're making a phone with a "touch screen" lol explain how that works moron sounds like bullshit to me

Idk I have faith they can figure it out though

>>23030838
It isn't an oversight, it's an intentional omission of reality to make you retards think you can have magical super smart contracts that are so much more reliable than human intelligence. Let us totally ignore that the real world is full of various heuristics and statistical measures (which are not deterministic) to solve a class of problems.
Many of the problems chainlink claims to solve, have already been solved with trusting key institutions and third parties. The "quadrillion dollar deritivates" market works just fine for instance on centralized trust alone. Cope. Seethe. Link not needed.

Crop insurance is an actually useful form of insurance

>>23030926
>Xyz works just fine it cannot be improved so don't bother

Yawn

>>23030970
>appending a middleman rent seeking racket is an improvement

Supreme delusion. Do you retards understand that OFF-CHAIN DATA comes from HUMANS OFF-CHAIN AND OFF-ORACLE

Holy fucking shit

>>23031013
>appending a middleman rent seeking racket
like lawyers and accountants?

>>23031063
Holy shit. Full retard circle. These people do not simply stop existing because some stinky faggots are reselling information they inserted onto the eth chain or whatever no use shitchain linkie faggots write to you.

>>23028973
I think there are 2 things here.
First is crop insurance has a real chance of taking off in third world markets unlike flight insurance which was always a gimmick that's very difficult to implement because you need to market to retail. So if it does take off it could be a disruptive shift and legacy companies will have to take notice. It could be like the email was just the first use case of the internet.
Second it's a good marketing tool for mingling with politicking elites, even if market value doesn't succeed, talking about making the world a fairer place and all that rainbow and unicorn bullshit is the kind of thing that they love at Davos. If you pay attention Gartner has specifically been hyping the crop insurance example in their latest article. It's good PR for chainlink to sell to any enterprises.

>>23029755
There are standardized indexes and thresholds that exist in the insurance industry that aren't subjective. Business logic is created using these parameters. When they are met, the logic is executed. It is that simple. You solely need chainlink nodes for increased security. You could run this system on existing infrastructure, but if you're a large enterprise, you're going to want to use the system that ensures the least amount of risk of fraudulent actors taking advantage of the system.

A crop shortage once prevented him from getting his Big Macs

>>23031129
in a place with no legal or accounting infrastructure, would it be cheaper to implement a human based middleman rent seeking racket or a machine based middleman rent seeking racket

>>23030789
No one is going to write a smart contract based on subjective things like this. You think you're smart because you have a misunderstanding of what a "smart contract" is. Why don't you step back and humble yourself and consider the fact that, JUST MAYBE, there is billions of dollars and some very intelligent people invested in this space because there is some very interesting potential. Just step back and consider the fact that you know very little about anything in the world, especially when it comes to how successful businesses operate.

>>23029238
>Decentralized insurance will probably be a huge industry in 10-20 years.

>Just HODL LINK for 20 more years bro, then you'll make it!

https://www.arbolmarket.com/wp-content/uploads/2019/02/ARBOL_WP-3.pdf

If anyone is genuinely interested, you can read this short document. Consider the history of finance in the world and the amount of red tape that has had to be constructed to get to this point of creating enormous amounts of value seemingly out of logic (the type of value that has contributed to nations like the US becoming the most powerful and wealthy in world history).

Now imagine that you could code a lot of that logic and have systems that enforce that logic quickly and efficiently while reducing much of the fraud that has taken place throughout the history of modern finance.

That's all that this is about. It expands markets, makes them work more securely and efficiently, and enables more people to participate in them.

>>23031361
Why don't you focus on your life instead of waiting for a cryptocurrency to moon? If Link were $100 right now, how would your life be any different? How about if it were $1000? Is your existence that insignificant that having extra money would dramatically change your life? You should be working toward some goal instead of being a faggot who waits to suck Sergey's tit every day.

>>23031433
>>If Link were $100 right now, how would your life be any different?

I'd have 100 dollars

>>How about if it were $1000?

I'd still only have 100 dollars because i sold all my LINK at $100

>>Is your existence that insignificant that having extra money would dramatically change your life?

>posting this on 4chan
What do you think, buddeh.