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29560995 No.29560995 [Reply] [Original]

It’s costing Sergey roughly $8,000,000 a day to subsidise the network at current prices and gas costs.

Isn’t literal their entire survival urgently pinned on rolling out OCR yesterday rather than whenever they eventually let it?

>> No.29561044

Market.link

>> No.29561056

Token not needed

>> No.29561064

It's still so stupid to think I'm gonna be a multi millionaire just from shit posted on 4chan

WAGMI everyone, I have top news, Bot Ocean algorithms will be Q2 2021

don’t use this trashbots that every nigger try to shill here

Don’t follow ref links and etc, ths is STUPID SHIT

>> No.29561071

fuck off

>> No.29561123

>>29560995
>It’s costing Sergey roughly $8,000,000 a day to subsidise the network at current prices and gas costs
Explain?

>> No.29561165

>>29561064
Tell me more good sir

>> No.29561173

>>29560995
>$8 million a day to subsidize the network
how many millions of dollars worth of coffee is consumed a day? around $4 billion
so unless the costs reach $4 billion in total as per what is clearly outlined in the whitepaper under the "cup of coffee" section, these costs are nothing

>> No.29561214

>>29560995
they're integrating with Fantom where feeds can be updated consistently and reasonably. Probably where they'll also make staking a possibility.

>> No.29561234

>>29560995
the team doesn't know what the fuck they are doing if you spent time in the official discord talking to devs you'd understand how far behind they actually are top fucking kek

>> No.29561236
File: 75 KB, 427x400, 1613566796748.jpg [View same] [iqdb] [saucenao] [google]
29561236

>>29560995
>It’s costing Sergey roughly $8,000,000 a day to subsidise the network at current prices and gas costs.

Oh no no no

>> No.29561282

>>29561234
They're like 2-3 years behind on everything

>> No.29561631

my insider source is telling me it costs almost $20 million on some days. fucking insane.

>> No.29561668

I know this is a stupid thread but if anyone is actually interested links off chain version of the eth usd feed used 85% less gas yesterday than the Flux aggregator feed.

>> No.29561719

>>29561282
Share with us the relevant info on this, they do seem stupid as fuck desu

>> No.29561778

Stinky linkfags need to fuck off and die poor

>> No.29561788

>>29561668
How do you find this info. If this is the case why is the price still down so much and will sergay actually dump less??

>> No.29561824

>>29561788
Market.link

>> No.29561826

>>29561631

Maybe the combination of this bullrun soaring eth gas prices, combined with falling behind on development has really blind sided them.
Its clear that segey identified this risk a while ago bu even announcing OCR last year.

>> No.29561842

>>29560995
They are going to release the entire dev wallet/wallets into circulation before you get any more bullish features. This is the way it has to be, and this is why you wont make it without at least 10k stinks.

>> No.29561863
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29561863

whilst you guys wasting time with stinky linky, im making them gains hot asian bitches

>> No.29561870

>>29560995
Who even cares at this point. That fat fuck is getting what he deserves.

>> No.29561873

>>29561668

Its just one feed though. Are they all going to convert any time soon? Thats what im wondering.

>> No.29561885

>>29561165
it’s a shill bot you stupid nigger

>> No.29561908

>the future of crypto
I bet google spends less on servers.

>> No.29562091

>>29561885
Reported for racism outside of /b/

>> No.29562101

>>29561885
top kek

>> No.29562207

>>29561873
>>29560995
The team is extremely cautious with rollouts, and for a good reason. Their track record is absolutely flawless so far, and they want everything to build out already full audited, testnet assessed and slowly battle-tested in sequential rollouts so that everything that develops through Chainlink's protocol is pristine and as high quality as it would need to be for actual adoption, both to build trust in the network and maintain perfect poise until it slowly reaches towards the point of "trustlessness" (fully matured standard + network that's self-testing and self-executing further innovations, e.g. aggregation algorithm standards). They're doing this just about as fast as possible, so it might look relatively slow from the outside but they're actually orchestrating an incredibly accelerated secure rollout.

>> No.29562349
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29562349

>>29560995

>> No.29562497

>>29562207

Based insider

>> No.29563253

>>29562497
btw I should clarify, not to let your hopes down but I'm not an insider. What I said above is still the truth though, even if I agree with you that they should in the very short term be directing as many resources and as much effort as possible to making this process unfold as quickly as it can.

>> No.29563273

>>29562207
>track record flawless
>70k + 630k
>ag =au

>> No.29563446

linkies = scam

>> No.29563479

>>29563273
Track record as in the security and operational track record of the network and its standard. If you think high operating costs count as a 'blemish' (it doesn't btw), that is going to change fairly soon (as per the topic of the thread).

>> No.29563643

>>29563253
Based insider

>> No.29563679

>>29563479
Do you even know the 2 incidents that I'm referring to? I consider both but at the very least one of them was a huge fuck up.

>> No.29563699

>>29562497
Based retard

>> No.29563738

>>29562207
Thanks Thomas, we really appreciate your continuous hard work!

>> No.29563859

>>29563679
>70k+630k was a typo and also a nothingburger
>ag = au was also a typo and solved by using another kind of multisig.
Wow big fud. Meanwhile all other protocols are either non-existing theoretical solutions with 0 adoption or live on mainnet with 0 adoption.

>> No.29564009

>>29563479
What sort of blemishes anon? Regardless we do expect CL to remain top tier in the industry but not entirely "perfect"

>> No.29564032

>>29563859
>Going live with a price feed update that was referencing the wrong fucking thing.
>flawless rollouts
The only reason it wasn't a bigger issue is because almost zero people were using it

>> No.29564047

>>29561873
I know you are trolling but there are 32 off chain feeds right now.

>> No.29564380

>>29564047

Thats bearish considering its not having much effect

>> No.29564382

>>29564032
It was a typo creating/updating a price feed. It's nowhere near as bad as bugs/exploits in code like Maker and Compund have had. Ag = Au is literally the biggest fud the Chainlink network has had and it was still a nothingburger.

>> No.29564407

>>29564032
A mistake was made, it was fixed so it won't happen again, and nobody got hurt.

Chainlink is by far the most used oracle solution, it probably has 95% marketshare if not higher.

This is stupid fud, probably written by an API3 nigger.

>> No.29564479

Guys seeing Mochimo over 4biz can you guys check out.

>> No.29564511

>>29564047
Check market.link there are over a 100.

>>29564380
The old feeds are still active, as both systems are running in tandem right now. That's why it's not yet having effect. As soon as OCR gets announced they will stop or at least significantly decrease the usage of the old flux aggregators, and that's when the improvement will become noticable.

>> No.29564571

>>29564380
OCR would have been ridiculed as a direction to take in the past. It shows how desperate we are for any action now.

>> No.29564630

>>29561788
dyor useless fuck

>> No.29564751

>>29564571

Because only a few people would have predicted ass fuck gas fees happening as soon as Jan 2021 incapacitating networks.

Sergey actually made a pretty foresightful decision developing OCR. Looks like he just like most, underestimate how soon the bull would come and raise fees.
Now imagine a rival Oracle network(as there are none) that was doing well except they overlooked an OCR like solution 12 months ago. They’d instantly lose this race right now in that scenario.

>> No.29564818

>>29564571
No it wouldn't, it's just CL trying to fix scaling on their own since ETH is a mess. It's essentially scaling for CL specific and not for the whole ETH network, meaning that CL will take another 10x lead on any and all competition who are still stuck with insane gas fees unless they just copy paste OCR.

>> No.29564924

>>29563679
This faggot didn't even know about these 2 events

>>29563859
>>29564382
These 2 faggots are busy shifting goalposts from "flawless" to "better than retarded competitors "

>> No.29564952

>>29560995
>had to literally like roll it out like yesterday

You can’t even type without revealing your extreme homosex

>> No.29565031

>>29560995
Sergey isn't the only one paying nodes anon

>> No.29565138

>>29561863
>tfw i used to do cute things like this my Korean ex
>years later she is in another relationship and I am still single
Fuck

>> No.29565152

>>29562207
I have 1 LINK: will I make it?

>> No.29565173

>>29564924
Et tu newfriend, you are the one moving goalposts.
You said there is "almost zero usage" while CL literally has to invent its own scaling solution to keep up with demand.

>> No.29565185

>>29565152
how does a cup of coffe sounds?

>> No.29565207

>>29565152

How does the entire gdp of the USA sound?

>> No.29565247

>>29564924
It doesn't matter if there was some typo that nobody really noticed. It's all about perception and I can bet that the perception is that Chainlink has worked flawlessly. What is Maker's perception? Compound's? Millions of $ hacked/drained. The 630k + 70k LINK event wasn't even an "event" or something bad.
>>29564751
It may be that Sergey overestimated the competency of Ethereum developers. Good thing he has planned for all scenarios.

>> No.29565331

So how is this going to affect the price? Expect Sergay to dump less next Friday?

>> No.29565384

>>29565138
Loser

>> No.29565420

>>29565247
>It may be that Sergey overestimated the competency of Ethereum developers. Good thing he has planned for all scenarios.
It really is to Chainlink's long term benefit that ETH devs are so trash. He really has prepared for everything.
>>29565331
I would assume dumps would be reduced as node operators need to sell less Link to remain profitable. They'd be paid less but a greater proportion of it would be kept as profit, reducing the sell pressure.

>> No.29565569

scaling chainlink with OCR will reduce the need for Sergey to sell off the developer stash of LINK to support ETHs high gas fees
when OCR is released expect the price suppression to disappear entirely and expect LINK to moon hard
>get your ducks in a row

>> No.29565592

>>29561788
It will cost less and Sergey will dump more.

>> No.29565627

>>29563253
thanks, insider

>> No.29565646

>>29565173
I said there was almost zero usage of the silver price feed when they rolled out the wrong price feed retard. Only like 40k in funds were effected.

>>29565247
More goalpost shifting.

>> No.29565651

I have 1 question guys... do you use uniswap to cash out big ammounts of Link (>60k ud)

>> No.29565771

>>29565651
I use Coinbase and Binance since that's where my stacks are. If you are a burger then Coinbase reports your trades so if you want to avoid taxes it would probably be smart to use Uniswap.

>> No.29565786

>>29565420
At what point will these node operators stop being niggers getting linky gibs?

>> No.29565790

you fags should be blessed by the fact that link continues to get dumped into the market and increasing circulating supply. Once this phase is over, you will see some shit. Just keep accumulating and stop acting like you are some big brain high iq person. You are a fucking brainlet posting memes on 4chan

>> No.29565791

>>29565651
>(>60k usd)

>> No.29565890

>>29565646

You spent the entire thread trying to prove chainlink is a failure and doomed because of a spelling error(not code exploit) which was instantly corrected. Why the hell will anyone take this seriously bro?
You sound like a fucking soccor mom saying “amazon will fail, mark my words” because they delivered her package a day late.

Link made a small error meanwhile all the competition has had extreme bugs and coding errors causing exploits losing users hundreds of millions.
You look like an actual retard arguing this much.

>> No.29565961

>>29565646
Exactly. Back then there was very little usage of that specific feed. So, the typo had little consequence and it wasn't a big screw up, it was a small typo and it got fixed. We're now more than a year later and there hasn't been any other mistake and there are hundreds of feeds and over 300 users announced.

You had three years anon, three fucking years.

>> No.29565984

>>29565771
>Coinbase and Binance
I am in EU
I have the suspect that coinbase reports it

Also... the maximum withdrawn limit on binance is 2k usd x day.....how the fuck do you cash out?

>> No.29566014
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29566014

Those who do not trust the prophechy will be left behind.

>> No.29566208

>>29565984

Why is it so low? Mine is £250k a day. Seems they are generous.

>> No.29566268

>>29565890
Wrong again faggot. Go back and read what I argued. My argument was that chainlink has not had flawless rollouts and that at least the silver error was a serious mistake (was not caught, would have had huge complications if feeds had large volume). Nice strawman though retard.

>> No.29566318

>>29565984
>maximum withdrawn limit on binance is 2k usd
wait what, wasn't it 2btc?

>> No.29566385

OCR aggregators right now are on main net for testing purposes only. on discord they said they aren't used for "major production" yet

>>29565890
his line of arguing is common strategy to get spoonfed. during nearly 4 years of holding LINK, i've had many doubts about it and i've often get those resolved by arguing in a psyop-manner like the guy are talking to is. on the other hand it could be someone who actually doesn't believe in link but for me it was lack of understanding or cognitive dissonance that i got resolved by fudding link and people who understood link better than me spoonfeed me in order to shut down my fud

>> No.29566410

>>29565384
I might be a loser but I'm a rich loser

>> No.29566497

>>29565984
Yeah nvm what I said I forgot about the whole fiat to bank account. Personally if you want to avoid taxes and bank account getting frozen, then you should cash out like €1k a day to your account max or look up your money laundering laws in your country. I'm also in Europe and here if transfer is more than €1k, it triggers some notification for the bank. So if they would see me getting €1k+ daily, that would be suspicous. What do you need the money for though? Maybe you can pay directly with crypto and if you want stability you can first trade your 60k in link to USDC.

>> No.29566504

>>29566268

And you are making a red herring by saying “if not caught” as if they wouldn’t have caught it literally instantly in any scenario. Your argument is pure autistic nitpicking detail obsessive no wonder you cant see the bigger picture every anon who replied to you is trying to show.

>> No.29566635

>>29566497

Doing less than the report limit every day us even worse you idiot. Do you even know what structuring is?

>> No.29566826

>>29566385
>OCR aggregators right now are on main net for testing purposes only. on discord they said they aren't used for "major production" yet
For fucks sake OCR is probably the only thing they’re going to do this year, isn’t it? Fuck these guys. Seriously what’s the fucking point in having 100+ people if you manage to deliver ONE new feature after 12+ months? Seriously I’m bullish long term and won’t sell but it’s infuriating to witness this

>> No.29566897

>>29565961
>>29566504
Good god you guys are dumb. It was a serious error. Saying it wasn't is minimizing. It literally cant be caught fast enough on defi platforms if it goes live (and it did). If that same error happened again on a high volume price feed it would result in hundreds of millions of dollars in funds that would be fucked. On multiple defi platforms.

>> No.29566949

>>29566635
I've done it with other things and fuck all happened. I have a friend whose mom works at a bank here and he told me that they don't waste time at all on low transactions. Doesn't matter if it's daily. I know in US the limit is at $10k and there are more safeguards in place. Again you need to look at how your country's laws function and look at how structuring is detected.

>> No.29566955

>>29565771
>I use Coinbase and Binance since that's where my stacks are. If you are a burger then Coinbase reports your trades so if you want to avoid taxes it would probably be smart to use Uniswap.
next year, burgers are going to need to list there assets on tax returns, irs uses chainalysis and coinbase for sure has given the goat to irs. any wallet you ever sent to the irs knows, and if they decide thats your wallet and you lie, thats a felony.
there are alot of "ifs" here, i get it, odds are minisucle you will get looked at, but the plain fact is, blockchains and public ledgers automates the IRS in a way they could only fantasize about before...

>> No.29567134

>>29566955
Burgers really are fucked. US doesn't fuck around at all when it comes to taxes. Idk what the plan is for burgers. Say that you lost it all then somehow set some company up in Panama or other schemes like this?

>> No.29567308

>>29566897

Since when do millions of dollars instantly get supported by an oracle in the bootstrap stage faggot? Look at OCR nodes now, they are online but nobody is using them yet. Use you’re fucking head.
You are making an extremely strange argument because it boils down to “uhhh yeah but WHAT IF” when the what if is absurd. Nodes dont instantly secure millions the moment it comes out, and yet, the problem still got fixed instantly last time.

This is an absolute autisic sperg out on a weird hyper detail. But i think people with autism cant see bigger picture due to their brains wiring so no hard feelings

>> No.29567817

>>29567308
It wasn't a "what if" you dumb piece of shit. The error went live. User funds were lost and chainlink reimbursed people for their error. The whole reason the current feeds are rolling out so slowly and cautiously is due to the AG error you dumb gorilla nigger

>> No.29568026

>>29566955
> next year, burgers are going to need to list there assets on tax returns
You already have to do this as a burger
>any wallet you ever sent to the irs knows, and if they decide thats your wallet and you lie, thats a felony
Post source or stay in your lane eurocuck

>> No.29568028

worst thing about link is that it's too risky not to hold it and make plays on other alts with significant portions of your portfolio. their principle of "no comment on time lines" makes it's very hard to get a realistic grasp on when major breakthrough milestone features will be implemented and link could moon any second cause of that

>> No.29568429

>>29568028
Yeah. Never forget how many anons got caught out when Google tweet happened. Literally no breadcrumbs prepared anyone for that.

>> No.29568447

>>29560995
some finance data node went online more than a week ago and it has yet to run a single job

>> No.29568511

>>29566268
>my argument was that chainlink has not had flawless rollouts
>the one example i have was the fault of the operator, not of chainlink
someone should find you and force you to drink drainer in minecraft, either because you're so dumb that nothing of value would be lost, or you're deliberately being such a massive faggot that you deserve it

>> No.29568522

>>29568429
I've been waiting for similar news ever since, its getting really tiresome.

>> No.29568827

>>29568028
That is really my worst nightmare. Selling big chunk of LINK to buy some shitcoins only for some crazy news to hit and LINK starts going up and up. Although we have had some quite nice news like WEF and the price did fuck all lol. It really needs to be some massive announcement that even normans can understand. Vague things like WEF whitepaper isn't "special" or so even though it seems like one of the most bullish things for Chainlink.

>> No.29568878

>>29568429
even if there's "breadcrumbs", you don't wanna be stuck holding something that will crab upwards slowly for years when there are alts that have much higher returns in short time spans in this space

>> No.29569119

>>29568878

Thats a lunch money strategy and a pretty shit one.

Most ppl who dis that last bull run lost all their papergains. Noob trap. Alt season is literally just a lowuidity event so people with bog strong coins can cash out or swish around liquidity to make their alts like btc and eth pump harder in waves.

Nobody with high 6 figs or more link is likely giving a shit about chasing random faster 100x shit now. Waiting a few years for even a 10x at that point is more desierable.

>> No.29569366

>>29569119
Very redpilled but I do put some lunch money into 2017 scamcoins-- i know retail is coming and they will moon and it'll be much easier for me to dump Nano than it will be to part with the link I've been holding with till my knuckles bled for the last three years. Collateralized lending really changed the space.

>> No.29570271

>>29561123
>Explain?
explain why you are retarded

>> No.29570781
File: 174 KB, 596x785, 2021-02-24 15_15_40-Chainlink - Official Channel on Twitter_ _Off-Chain Reporting is now live on mai.png [View same] [iqdb] [saucenao] [google]
29570781

LET'S FUCKING GO

>> No.29570816

>>29560995
good timing OP
https://twitter.com/chainlink/status/1364590981224534019

>> No.29571141

OCR IS LIVE

I REPEAT

OCR IS LIVE

>> No.29571197

>>29570781
dat timing haha

>> No.29571259

>>29560995
read the whitepaper the token isnt needed

>> No.29571293

>>29570781
Woho!!!

>dumps

>> No.29571382

>>29561668
that doesnt help much at all

>> No.29571426

>>29571293
Like pottery