/biz/ - Business & Finance

In the temple of love, you shine like thunder and cry like rain.

Why would they need it?
Not until enterprise adoption fren.

>>24705632
>Why would they need it?
The only thing that currently secures the network is the fact the node operators are selected by the Chainlink team and thus must report to the Chainlink team. If the network were to actually be decentralized, then you would need security features in place like staking, as outlined in the whitepaper.

Why would enterprise adoption precede any actual security measures being implemented?

>>24705526
bump

Staking isn't magic, it only makes sense when LINK is actually widespread used.


NEETs just locking LINK up alone is not value by itself

>>24705699

Who benefits from a staking rollouts other then the staked?

Honestly bruh, absolutely zero need for it today.

>>24705884
>Honestly bruh, absolutely zero need for it today.

Then explain to me why anyone should trust a Chainlink node? Or a Chainlink data feed? What's the trust/security model?

>>24705977
Because it will just be the thing that dominates and that everyone's using. Much like VHS back in the days. Although for different reasons.

>>24706175
This is pretty delusional, fren. Nothing just "dominates" in the crypto space if it isn't provably secure which is generally some measure of decentralization/number of central points of failure. Imagine the entire crypto space getting data inputs from one company ...

>>24705977
Currently used exclusively for gambling degens. Do u think they give a fuck about decentralization. These fucks throw 20 Eth on anything trending along coin gecko.

When the institutions arrive, Game On!

Anon I fully understand the importance of decentralized oracles.

>>24706424
The crypto space will be everyone's place in time. And Link will be the glue that makes it all stick and work together. ETH made it possible.
A transaction might cost an additional link fee of 0.000000000000007 link for businesses... now imagine owning hundreds of thousands of these tokens when that happens. And happen, it will someday.

>>24706424
Multiple oracles independently providing data. When one of the oracles provides outlier data it is not recognized. This could also help with security right?

>>24705526

Terrible FUD.

>>24706563
What’s to prevent them from colluding and what ensures an outlier is a misbehaving node? An outlier could also be a piece of data that’s of higher quality than the rest.

>>24705526

>why would something that poses a risk to billions of dollars take so long to implement

i wonder why

I'm about to staaaaaaaake

Lads, the first time I had sex with a trans girl, it was just like similar experiences with other girls. And it was really hot. And I know some of the straight lads might be like, "Well, y'know I find trans women hot and like trans rights and all that, but if she's got a penis, then I don't really know how I feel about that," and that's the commodity fetishism of dick. The lads are thinking about the dick, but they're not really thinking about where it comes from or what it does. So as an alternative. I'm pleased to present my fellow lads with what I call the Wittgensteinian theory of dick. I've had sex with men and with women, including trans women, and I can tell you from experience that the meaning of dick is how it's used. How a trans woman's dick feels, how it behaves, how they like to be touched, taste, and yes, The Mouthfeel is totally different than guy dick. I'm not the first person to point this out on YouTube, but I'm happy to independently confirm that it is in fact true, and if you don't believe me, I will also literally cite an academic source. It's a book by Mira Bellweather called "Fucking Trans Women." It's also a how-to guide with diagrams. Sometimes I'll suck a guy's dick in a gay way! Sometimes I'll suck a girl's dick in a straight way!

>>24706692
You think they’ve secretly been working on staking for the last 3 years?

Rome wasn’t built in a day my street shitting friend

>>24705526
my a1 sauce has been sitting in the fridge for months.

I NEED STAKE!!!!!!


WHEN STAKE?!??????????

Rumor is they cant figure out how to do staking. Its causing big issimues and its why sergey has hired so mamy devs

1 billion new wallets EOY
Do you find this suspicious?

>>24705699
The network will be increasingly decentralized. They’ve just announced that Keep3r nodes can transition to link nodes with a good enough reputation. There is a second white paper coming. I will be concerned if it doesn’t get into staking mechanisms. You really don’t think Ari can pull it off?

>>24707479
>You really don’t think Ari can pull it off?
Ari is a cryptographer. His research isn't in consensus algorithms or statistics, which is what you would need to design a consensus algorithm and thus a staking mechanism for nodes handling nondiscrete data.

>>24706843
>/business and finance/

>>24707620
He’s a brilliant mind. I’m sure he can figure it out or help hire the people who can. I ain’t worried.

>>24706424
they don’t get the data from one company stupid! It’s a fucking network, you still don’t get it right?

How many links to get my normalcy back?

>>24707952
How does 100k sound?

>>24707979
https://www.youtube.com/watch?v=6wYTr8-fORY

>>24708003
Looks like I can't afford it. I'm "priced" out.

>>24707890
When I say one company, I mean Chainlink, which configures the network and decides who services data feeds. You are putting your trust in them which is anti-decentralization.

>>24708042
We told you 3 yeeeeeeeeeeeeaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa
*electrically induced seizure*

>>24705824
Locking up BET tokens while getting BTC or Eth on crypto casino - https://2no.co/2gZxw5 - does actually makes sense, especially when you're going to sell back with a much higher value of BET tokens. Basic maths.

>>24705526
PRICED IN AND NO ONE CARES

>>24708093
Schwab and Chainlink can be trusted. It is trustless you see, dude trust me, you can really trust Schwab and Ari and Sergey. They are very trusting people. Let me tell you all about our trusted Oracles...

Trustworthy balm man

>>24709085
bump

https://reputation.link/
I'm surprised nobody posted this already.

>>24705526
No because staking is coming in the next 6 months.

>>24709262
>https://reputation.link/
This falls into the same pitfalls as most data "dashboards". A bunch of useless numbers to impress midwits.

How do you decide based on this information which are the best nodes? Most importantly, which oracles, based on this information, produce the *most accurate* prices? It's a rhetorical questions, since none of the information on reputation.link would answer this.

>>24709371
Source?

>>24707118
Obviously they have been working on it.

>>24709427
The bitgo hire kinda said it all anon.

>>24707352
I figured he's actually done nothing all these years and just started hiring recently

>>24709493
>bitgo
You mean Benjamin? What would he know about consensus algorithms and statistics? Two areas at minimum in which you'd have to have expert knowledge in order to develop a consensus algorithm (and thus staking) for nondiscrete data.

>>24705526
>Staking is the only value proposition for LINK.
No, the value is derived from people believing the price of a link token will be worth more in the future. Same as non-dividend stocks.

>>24709262
Most successful jobs, uptime etc. Try checking it out first before pretending to know what you're talking about.

>>24709630
I already responded to this here:
>>24709396

Other than response ratio, none of these metrics are particularly useful. More importantly, none of these metrics tell you how *accurate* a node is. Which one reports the most accurate prices? How would you even measure such a thing?

>>24709580
He created the Wrapped Bitcoin.
I guess he knows nothing

Fully entrusted

>>24709909
Just because someone has expertise in one area doesn't mean they have expertise in another. Anyone who has worked in technical research knows this. I had a math professor in combinatorics who admittedly had trouble with basic concepts in statistics.

How does creating wrapped BTC translate into coming up with an implementation of a novel consensus and staking algorithm for an oracle network? Oracle networks have to deal with nondiscrete data so at the very least the development of such an algorithm would require statistical knowledge and experience with designing consensus algorithms.

>>24709427
Back in may sergey said staking will be out in the coming months and then also said that staking will be coming sometime this year. That means by the end of may we will have staking.

>>24709427

>>24710025
>>24710051
>put up stake against a very clearly laid out set of conditions that relates to data quality
Again, more vagueness. How would you lay out conditions for data quality? Would this require some reference source? Would this require discarding data furthest from the mean (which doesn't necessarily imply it's faulty)?

>>24710025
the someone asks "what are you doing for the rest of the year?" they don't mean "what are you doing for the next 12 months"

>>24705699
This is false having LINK staked up doesn't increase value

>>24710605
https://www.youtube.com/watch?v=ZpvNQvU5dsM

>>24710724
Lol. Wtf are you talking about? The whole value prop for LINK is that node operators will stake LINK and the amount of staked LINK has to be proportional to the value of the smart contracts relying on that node.