/biz/ - Business & Finance

Hope this is troll. If you think the "staking" offered by Coinmetro, Celsius and Bancor as APY% yields is the same as Link node rewards you should kys. Just kys

Remember, your staking income will be taxable.

>>29008539
So it’s gonna be much better to stake on nodes? What do you estimate returns to be once staking goes live ?

>>29008480
No one cares if you buy or not dude.
/saged/

>>29008539
I’m not trolling, I seriously want to learn. When Sergei releases staking, will there be other operators besides Linkpool? I don’t care about paying 20% staking free as long as it’s safe because I’m retarded and couldn’t ever operate my own node

>>29008607
So assume the staking fee is 20%, will I have to pay a total of 50% if we include taxes on staking? But this is just on the staking reward right, my underlying asset won’t be touched?

>>29008614
It might be less than those offered by Coinmetro, Celsius and Bancor

People don't seem to get this

>>29008607
For burgers, at least if you don't cash out your staking reward and wait over a year to cash out, you only have to pay long-term cap gains not short, right?

>>29008752
If I buy it will pump the price, of course people care

I don't even know what staking means lmao

>>29008771
>When Sergei releases staking, will there be other operators besides Linkpool?

Chainlink staking is centralized. The earliest nodes will get the best jobs and get the best reputation, any other node late to the game, even a month, will never get the enough job. This is one of the downsides of Chainlink, they tried to create a decentralized node system, but did not realize that LinkPool will devour all the jobs and have the highest reputation by definition, no other node can compete anymore. So it will fail in the long run because of centralization

>>29008829
you aint shit faggot. Buy 20 million dollars worth and I'll care, otherwise, your 50k means absolutely nothing

>>29008873
Are you serious? I have no interest in Linkpool because of the outrageous price right now, if what you’re saying is true (and I hope it isn’t) then it’s bad for LINK

>>29008786
Wrong. you have to pay for whatever you get first. If you get more than $600 per year. So if you get $600 but the value increases by $100, you pay taxes on the $600 (like income). But when you cash out, you pay short term or long term on the increase in value ($100) WHEN you pull out.

>>29008919
Why are you so hostile nigger? I’m trying to learn. Are you one of those people who get roidraged if someone looks at you in a certain way? Learn from the other gentlemen here and stop being a complete faggot

>>29008829
with a market cap of 13.4T?

>>29008771
No one knows here obviously. Idiots seem to only post here anymore.

>>29008980
It's pretty bad. The Link Staking is based on reputation and how many "demonstrably correct" data deliveries those nodes can make.

Someone new to the game, or spinning up a node, even a month later will never get enough those high reputation jobs to compete with LinkPool. Linkpool itself because a centralized and potential risk to manipulate data because they will have the highest amounts of jobs

Imagine creating a staking tokenomics, node network, but the whole show is by defacto run by some one entity. Beats the whole idea of Chainlink, they were not far-sighted enough to see this. All they tried was to create decentralized oracle network, but the single data provider will be some centralized node run by Johnny

>>29008607
if i harvest it, will it be stakeable

>>29009107
It seems so. Either there are only legit retards left on /Biz/ or they are hiding something. I’ve tried asking anons about staking before and people just seem to ignore it like it’s something they don’t want to talk about

>>29008980
no he’s trolling. but it is true early on that staking will be somewhat exclusive as the network is gradually adopted. new staking services will emerge to compete in terms of yield and convenience, and of course anyone will be able to run a node if they choose to (although doing so will be akin to a 24/7 job, so you will need employees)

>>29008480
no you really aren't, you're a paid shill to keep the scam going

>>29009091
YOU HAD THREE YEARS
WE DONT NEED YOU

>>29009197
oh my god, im so fucking sleepy
i meant will staking still be taxable if i don't harvest

>>29009249
It's been a while since I read up on all of this.

Is there differences in incentive for more reputable nodes? Like, if I'm someone who wants to use a node for my oracle service, maybe I want the most reputable service, but the fee associated will be greater, and if I want to shop around to find a less reputable but still not too bad node, I have that option?

I'm not sure if that's how it works, but it's my assumption on how market forces would solve centralization of oracle node services.

>>29008480
>give me 10k
>you keep 40k
there you go, a better return on your investment than losing 50k on a meme coin

>>29009249
>>29009457

No seriously. The team has not worked it out. It will be centralized

Imagine a scenario when the staking has been up for like a month. Linkpool has like 10 000 data deliveries with 100% correct/delivery rate

How do you think someone new to the game, spinning up a node few months later, with 0 deliveries and 0 reputation can get any jobs at that point? It's impossible

It's like a marathron race, a long distance running race, but some competitors get to start it days before the latecomers. People don't seem to realize this. Sergey will not magically push a button and make the reputation start at 0 after a month, that's childish to even think that.

Tell me how it is not centralized?

>>29008480

>>29009607
no I get what you're saying, I'm just trying to work out in my mind what the solution is...

Another thing you're not considering is just how many off chain data connections there are to make... essentially infinite really. So possibly in theory other oracle nodes might spring up to fill gaps in data requests that linkpool can't deliver?

Does the size or reputation of the oracle make any difference in the cost of using it?

I honestly don't know enough to speak on it, I'm just tired and I don't want to go to work tomorrow so I'm wasting time.

>>29009607
>he doesnt know what threshold signatures are

>>29009212
ICO buyer here, LINK and linkpool. just drop in to shitpost
staking has been talked about so many times before, its like participating in a what is a smart contract thread
anons need to use the archive, stop asking to be spoonfed, and watch some smartcon videos, Sergey explains the problem of staking and who is looking at it now

>>29008829
50k isnt much dude
go back to your random microcap rajesh kutrapali shitcoins

>>29008607
>Remember, your staking income will be taxable.
what if i only cash them out in ten years?

>>29009891
>>29009905
>threshold signatures

Doesn't matter, pic related is the problem. Team has not worked out it yet, I've never gotten an answer how anyone can compete. The reputation decides how many jobs you can take and by definition the oldest/longest uptime nodes will have the highest reputation (granted that they have provided correct data)

>>29009905
I don't either
spoon feed me for this cheap link meme

>>29010085
how likely is it that a high throughput pool will have a margin of error that lowers their reputation?

What would an error even look like and how would it be caught/corrected for?

>>29009212
Listen retard. 2017 Link OG with 50k Never Selling stack here. Just buy and wait 5 years. You obviously need to do some research, but I'm giving you the right answer. Your $50k will be somewhere between $250k and $5MM in 5 years. Now stop embarrassing yourself with the retarded newfag questions.

>>29010344
>how likely is it that a high throughput pool will have a margin of error that lowers their reputation?

This is another point of possible weakness/failure. There may be some nodes that only accept "easy" jobs with zero risks involved in terms of incorrect data type of scenarios.

Also, the risks involved for someone new to the game would only increase because if there was something like LinkPool that has been running with 100,0% reputation for 2 months and you spin up your node, even something like 99,999% reputation would you make essentially lose the game in the long run. The process will be automated, miniscule, decimal error rates will decide your fate.

Basically at that point when your node makes even one data delivery error and gets penalty it is better just to delete the whole node and start over to get back to 100% reputation. This is how it will work

>>29010549
>better just to delete the whole node and start over to get back to 100% reputation. This is how it will work
seems like a vulnerability to the viability of the reputation system

>>29010683
Yeah, seems like the team wasn't so smart enough after all

>>29008480

1. Celsius is amazing. I have did tons of research into staking services because I was scared of losing my linkies, and the high interest rates smelled like a bitconneeeec bullshit. The more I learned the more I realized celsius just actually has an outstanding business model and possible the most based CEO of all time. By all means, keep some of your crypto somewhere you control the keys, but the returns you get on celsius are an absolute game-changer for your investment strategy. USDC on celsius for your low-risk allocation BTFO's bond funds so hard it's not even funny.

2. Staking on link is not the same as other coins, actually that question is so retarded that I'm wondering why I bothered replying to your post.

3. Here is the big one anons don't realize: WHEN LINK STAKING IS RELEASED, THOSE STAKING RETURNS WILL BE **ADDED ON TOP OF CURRENT CELSIUS REWARD RATES**. Like if the link return on staking is 15%, and celsius payout is 4.4%, Celsius will almost certainly be giving you a 19.4% return once staking starts taking off, maybe a few % less but in the ballpark. Why? Because people who are set up to run nodes and stake will borrow from Celsius, and be able to pay higher rates. Competition for link will drive the return that people are willing to pay up. From the borrowers' point of view it makes total sense: The more link they borrow the more fees they collect, the more profit they make.

Tldr staking + celsius is going to be a money fountain and if you have a 10k stack you'll be able to retire off it within the next 2 years.

>>29010085
the answer, to your question, is threshold signatures. if you dont understand the value a diverse group of new data reporters brings with almost no additional cost then you were not meant to make it.

>>29010087
when this blog came out i unironically dumped all my other shitcoins for LINK
https://blog.chain.link/threshold-signatures-in-chainlink/

>>29011038
>if you dont understand the value a diverse group of new data reporters brings with almost no additional cost

You can pick up the nodes manually. I've watched the demos. If I only choose 100% reputation ondes, how do you think nodes with reputation less than that can get any jobs? I only want the highest quality of data with 100% reputation, not 99,999%

>>29009607
arbitrum, vrf, keepers

>>29009091
Ask me how I know you're from reddit.

>>29011179
For the highest quality data (i.e. the most accurate) you'd want to choose a mix of the older, highest rep nodes and the newer, (relatively) lower rep nodes. The decentralized spread of newer nodes are incentivized to report accurately and therefore act as a buffer against collusion by the smaller group of higher rep legacy nodes. They keep each other in check.

>>29011179
youve watched the demos in a beta network. if it comes down to selecting 10 nodes with 100% accuracy (likely same source) vs 1000 nodes with a 99.99% accuracy that aggregates the data and including the original 10? id take the later

>>29008480
holy shit you sound like you made this post right after you searched "blockchain" in google fuck off

get some info here

http://motriael.com/9gC2

Tfw OP posts your OC meme you made 6 months ago

Listen up newfags, I'm a tcp ip developer at a fortune 50 big data company with 25 years experience in database infosec, I've looked into chainlink and all I can tell you if that the cryptographic measures implemented in regards to the decentralized security paradigm in the API and IoT structure of chainlink's github code is fundamentally flawed after the Pivotal tracker server crashed due to the core attacks on the network enabled by its corrupt data inputs and outputs, what this really means is that by attempting to solve the oracle sybil resistance issue it instead allows customers to bypass the encrypted hardware and even hack into the smart contract Intel SGX mainframe, unless they manage to increase the signatures and scalable nodes, which isn't likely considering the Google backend isn't compatible with the legacy JSON systems and Solidity language from the EVM in the Truffle stacks, that's why the ic3 and SWIFT engineering teams developed the ISO 20220 standards but it's centralized and susceptible to the 51% front running program so yeah basically Sergey didn't foresee that the enterprise customers and cloud blockchain dapps would never allow their protocols to rely on these permissioned host mechanisms thus rendering the LINK ERC 677 token obsolete and no serious developer would consider DLT technology in these conditions, sorry linkies I'm just telling it how it is.

>>29012374
I made OP's meme, wtf you on about?

>>29008783
I find it kinda hard to believe it will be much more than the 5% you can get now

>>29008991
This is why you always treat your LINK like your girls: never pull out.

>>29008829
>50k
>Pump
WHAT A FAGGOT!

>>29012459
Thanks just sold all my holdings

>>29010869
13k stack here i already cant focus at my wageslave job please stop making it even harder

>>29009607
dude. threshold signatures much??

>>29012459
Thank you for helping me know I need to sell

Leave all these fast-growing but empty shitcoins! I've spent a lot of time on these unpromising systems. You have to invest in long-term platforms like Crop:

> automated yield farming with the highest benefits
> automated lending in a P2P loans marketplace
> stake with a wide range of benefits

> cropfinance.io
> Telegram - Crop Finance
Can’t wait to get my first tokens! It will be easy to reach x3 for a half year. Are you with me?