/biz/ - Business & Finance

>>51387141
>I am making a Chainlink thread. This is to discuss, the technology instrument known as ChainLink a Decentralized Oracle Network, and it’s profitability potential.

>>51387146
Hello, would you like to discuss Chainlink?

>>51387177
Hello I am here to discuss chainlink.

>>51387141
Go away diseased brain faggot

>>51387177
Checked

>>51387141
Lets say two parties want to sign a smart contract for billions. They hire a smart contract firm. The firm can write the smart contract on any chain. Why would it choose ETH instead of, say, Cold Piss? On the Cold Piss chain, smart contracts can hit an API directly instead of relying on an oracle.
CL is fixing a problem that ETH has but ETH is a shitcoin.

In the beginning, Sergey created Chainlink.. This has made a lot of people very angry and been widely regarded as a bad move. - Douglas Adams.

Good morning, I like chainlink and I need the link token

token is useless

>>51387141
I'm an Old Timer that has invested in a Crypto Currencies, specifically the Chain Link tokens, not for money, but for the technology. In fact I've lost quite a deal of money so far, but this is like being at ground zero for a cutting edge company with big, game changing ideas that revolutionise the sorting of data and commodities landscapes and creation of Oracle Trusting computing machines communicating with real Data inputs. Not everything is all about boring financial returns and balance sheets, some people just want to change the world and invest in a new paradigm, and I am proud to be a financial partner of Chain Link and Mr Navarazikov. I haven't felt this kind of buzz since the days of Enron.

>>51387310
Hello, friend. Recently I’ve been intrigued by all of the problems that can be solved by a Decentralized Oracle Network. But I was wondering what the difference is between a singular Oracle and a Decentralized Oracle Network.

I hope SmartCon has good security because there's a lot of guys with not much to lose very mad it seems in certain Minecraft servers

I have a project I've been working on for a long time, but I at a dead end. I need more privacy tech, very excited that they are also putting DECO out there as something big they will be talking about at smart con.
my idea is like a temp agency but operated with smart contracts. you can read more at questboard.link if interested (i made the llc with the word link in it before chainlink existed)

>>51387141
yesterday my dog ate her own poop in a public place

>>51387341
>On the Cold Piss chain, smart contracts can hit an API directly instead of relying on an oracle.
Sounds cutting edge! Can't wait to see it implemented. Give us a heads up when it's working, will ya.

is link actually an eth token? i thought it was more advanced than that

Hi I would like to discuss Chainlink, do I need to make a new thread?

>>51387825
Hello fren. I'm here to discuss Chainlink. I would like to say Decentralized Oracle Network is better than a singular Oracle.

>>51387954
Mr Heavybags. If nothing happens at Smartcon I demand you deposit 1 LINK into my account.

>>51388107
I was also wondering this. I opened this Chainlink thread hoping to have a pleasant discussion with the friendly gentlemen on the 4channel business and finance imageboard about Chainlink, the Decentralized Oracle Network, but I guess everyone has left. This is unfortunate, as I will now have to discuss a different token elsewhere on the 4channel business and finance imageboard. However, in absence of a Chainlink discussion being had in this thread, I bid you all a fair day.

>>51387341
> On the Cold Piss chain, smart contracts can hit an API directly instead of relying on an oracle.
No they can’t. The canisters simply act as oracles, which is a dumb idea.

The logo is shaped like a butthole. All the holders are homosexual. Coincidence? I think not.

>>51388247
Yes the canisters will be making API calls off chain to get data.

>>51389485
How do these canisters ensure the data providers won’t cheat the smart contract by providing faulty data? How is it ensured a canister operator, or whatever theyre called, won’t try to cheat the smart contract for their personal gain? Where is the incentive to prevent bad behaviour in this system?

>>51389503
All I said is they can call APIs to get data - did I say it’s an oracle replacement? There are probably a million APIs that don’t need a consensus. It’s a web 3 platform where you can bring web2 content. Relax and learn what a canister is

>>51389530
No, but this guy >>51387341 did and your post stems from that conversation so i figured i would ask because i am genuinely curious

>>51389530
So it doesn't solve the oracle problem.

>>51390054
To be fair, calculating a median and adding obfuscation via self serving incentive structures doesn't solve anything either.

>>51390591
stink holders rekt lol

>>51387366
WOWWWWW. Im not normally blown away by an infographic, but this was is insane. I mean just look at how the blue blocks get bigger from left to right. Incredible growth. I imagine the associated coin has also been pumping. Let me just pull up the char—ACK!!!!!!!!

>>51390696
>noLinker cope detected

>>51389485
Exactly. The canisters are the oracles.
It's the exact same principle as any other oracle, and like any other oracle the basic design is inherently inferior to Chainlink since canisters are already burdened with completely unrelated tasks.

>>51390756
>>51389530
>>51389503
>>51389485
Hallo me fren. You too have canister of horse paste? I would like to know how much for your horse paste canister. I may offer 0.177 LINK per me fren.

>>51387141
has anyone explained the 2/25 sigs on some of the chainlink contracts? it looked to me that with only 2 keys, cl employees could undo price oracle stability

I'm an oldfag with a massive stack of Link. I don't have anything else to say. There are no combination of words that would lead me to selling.

>implemented across all chains
>used on all chains
its going to trail along the market without any risk. bubbling with the market, crashing with the market, without the risk of it not being used

>>51387141
You are not a real cryptocurrency. You will never be a real cryptocurrency. Your founder is an obese lardass who can't even take care of his own health let alone lead a tech project. No one needs oracles. No one needs a JSON parser. You are laughed at and are a joke behind closed doors. You are worthless without QE. People buy you to short you to the ground. Your investors belong in mental hospitals. In ten years you will be a forgotten internet meme, except internet memes and youtubers of the past have given people great memories. You will be a headache people want to get out of their head. Only a handful of smelly neets on biz got rich off you only to hold it back to zero and be left where they started when they could have cashed out and moved on with their lives. Your chart will look like ICP zoomed out in 5 years.

HALLOOO!
You spoke of horse paste canister and it register with me filters. I would like to purchase horse paste canister yet no one reply. Is shift over in Khazariland?

>>51390756
This will allow access to any api for any data call that doesn’t necessarily need chainlink. Millions of apis that don’t need consensus. Oracle not needed for these calls - just basic http GET calls. And then POSTS too.

>>51391561
are you expecting anybody to read your essay after the first three words?

>>51391627
>This will allow access to any api for any data call that doesn’t necessarily need chainlink
No, it necessarily needs ICP. Which has an inherently inferior set of oracles since only canisters can be oracles while Chainlink is much more flexible.

>>51391688
If I want a basic weather display on my website running in my canister I don’t need chainlink.

Oracle solutions are a different problem they’ll be working on.

>>51391758
> If I want a basic weather display on my website running in my canister I don’t need chainlink.
In this case your canister is a centralized oracle.

>>51391457
Based. I have 900 and still feel the same

>>51391893
Yes, he's not paying for features his use case doesn't need, a smart move.

>>51391893
Lol who cares? I’m just displaying some api data like hundreds of thousands of sites do without chainlink

>rank 25

Give me one good reason besides “York not needed” for why link is so undervalued

>>51392350
He has invested too much money and time into this, he's unable form unbiased thoughts anymore. It's sad to watch

HALLO YOU BAIT AND SWITCH CANISTER THIEVING BASTARDS! YOU MENTION CANISTER AND I HAVE SEARCH THIS SHITTY KHAZAKSTANI CANISTER FORUM FOR MONTHS NOW FOR RARE HORSE PASTE CANISTER WHICH ARE IN SHORT SUPPLY DUE TO COVIDIA AND JEW MACHINATIONS. NOW TELL ME HOW MUCH LINK FOR A 37 OZ CANISTER OF HORSE PASTE?! OR IF YOU ARE SO DENSE EXPLAIN TO ME WHAT IS CANISTER YOU SPEAK OF!

>>51392220
>decentralization is a feature you don’t need
lmao

>>51392447
but chainshit is not decentralized at all

>>51392220
>>51392350
You’re not feeding data on-chain?

>>51392459
It has many oracles per feed

>>51392511
that's not decentralised enough...

>>51392447
>overengineering is a concept I don't understand
It must be hard to pretend to be interested in a technology when you lack the fundamentals. It must have been easier when there was at least some price action, now all that remains is broken promises and mental gymnastics.

>>51392499
I’m convinced now you guys have no idea what can be developed on a canister with Icp

>>51387141

>>51392529
>that's not decentralised enough...

>>51392613
Elaborate please

>>51392511
???
it has a single point of failure, it is by definition centralized

>>51392646
And this is why chainlink and its holders will fail. So uncritical about its tech and will swallow up the same powperpoint slides that Sergey has been shitting out for the last 3 years. There's a reason you're down 90% against ETH and it isn't muh Bulgarians.

>>51392653
Building a web2 like site on a canister making api calls does not need chainlink in the vast majority of what web2 does. It’s pulling data on chain but has no need for consensus if I’m just displaying some data for weather. It’s a website on the canister - simple as that. No other chain can pull in api data like this or even run a website on chain - they need chainlink for off chain data. Canisters won’t.

>>51392975
Thanks for this explanation. I’m used to icp holders entering link threads and going on about how canisters will make chainlink completely useless, but it looks like their use cases are quite different

>>51392975
I poop in canisters and then splash them in your mom's face

>>51393480
Does that require an oracle? You probably think it does

>>51392613
>>51392564

If you’re feeding data on chain, you need decentralized oracles.
If you’re not feeding data on chain, then you’re just hosting a website and cannot benefit from smart contract functionality.

>>51392720
> it has a single point of failure
Holy shit no it doesn’t.
That’s why it has had zero failures while all other oracles in use have had multiple.

>>51392956
How does it feel to have devoted all this time over the years to trying to get me to sell, and all i've done is continue buying? That's gotta hurt, right? The one thing you set out to do and you've failed. Jesus, what a waste of your time. Are you a failure in other aspects of your life, too? I bet you are. I bet your personal life is eye-wateringly awful. Sorry to break it to you pal, but you're just low-level. Your spirit must be truly broken, I shouldn't wonder. Not much else to say about it, really.

>>51393558
How does it feel to underperform literally everything during TWO manic crypto bullruns while everything else moons around you. Kill yourself you stupid loser or just keep coping for the rest of your life.

>>51393500
>If you’re feeding data on chain, you need decentralized oracles.
Or you could just call regular old APIs and do away with all the middlemen trying to extract rent from a process that has worked for decades. Decentralization is a feature, not everything needs that feature (and pay the associated price). In fact, the whole internet is using centralized APIs.

>>51393500
yes it does, brainlet
what do you think happens to the network if CL gets shutdown? or if one of the dev wallets gets hacked? or if they stop paying all of the rewards to their centralized, permissioned, whitelisted nodes?
do you even know what "decentralized" means?
which one do you think is more decentralized, BTC, ETH or LINK?

>>51393500
You don’t need oracles for all data coming in on chain. Flat out wrong and yes the entire site is a smart contract. It’s web 2 functionality on web3.

Not all smart contracts are determining buys and sells. Link is just not needed for 99% of api data that web2 uses and Icp will bring to their on chain canisters.

>>51393757
Which begs the question. What are oracles (and chainlink) actually needed for at the moment which necessitate having a high value.

>>51387177
>>51387310
Let's discuss Chainlink!
>Beep boop. I am a bot, and this action was performed automatically.

5% of link is being added slowly to the circulation.

And they are also dumping link weekly

>>51393864
everything, if you care about integrity that is.

>>51394274
If oracles are so important then why is LINK down 90% against ETH?

>>51393646
>Or you could just call regular old APIs
You need oracles to feed API data on chain.

>>51393739
>what do you think happens to the network if CL gets shutdown?
The network consists of independent nodes, nothing will happen to them when "CL" gets shut down.
What the fuck do you even mean by CL getting shut down? Chainlink Labs ceasing operations? This has literally nothing to do with the on-chain presence of the nodes. All that will happen is there won't be any more updates from them.

>>51393757
>You don’t need oracles for all data coming in on chain.
Oh yes you do lmao.
All external data going on-chain is brought there via a transaction, i.e. an oracle.

>>51393864
>What are oracles (and chainlink) actually needed for at the moment which necessitate having a high value.
Ask literally every project out there that has had an oracle failure (protip: none of them were using Chainlink at the time)

>>51394342
>if Amazon is so great, why did their stock crash during their early expansion?

>>51394385
Again you guys don’t know what is built on canisters. If I create an Etsy like store on an Icp canister and want to consume web2 apis for pulling package tracking information from ups, to the chain, I don’t need an oracle. 100% not needed for most apis.

Icp still not understood.

>>51394494
You're just running a tracking website, no different from what already exists.

>>51394385
>The network consists of independent nodes
LMAO, come on, stop embarrassing yourself
the network is completely relying on the sustained support of Chainlink Labs, they are the ONLY party who maintains and updates the network
the nodes are not "independent", they are permissioned, KYC, centralized entities that are being almost exclusively subsidized by Chainlink Labs.
absolutely no part of all this is in any way "decentralized"

>>51393864
Which begs the question. Why is Chainlink held to a higher standard than something which is more valuable like DogeCoin?

>>51394544
Because of the lofty claims made by its obsessive followers and its obese founder. Everyone explicitly understands that doge is a joke, which is why it was able to pump.

>>51394521
The entire site is a smart contract on chain.

>>51394533
>the network is completely relying on the sustained support of Chainlink Labs
Just like BTC and ETH in the beginning.
Doesn't change the fact that the network consists of independent nodes.

>they are permissioned, KYC
Contract operators and end users will always get to permission their node operators. It's their contract, they choose.

>centralized entities
Individual BTC and ETH nodes are "centralized" too lmao. The decentralization comes from combining a bunch of centralized entities.
How the fuck do you decentralize a person?

>almost exclusively subsidized by Chainlink Labs
Just like BTC and ETH nodes are almost exclusively subsidized by block rewards.

>>51394620
In that case, external data is way too important to put on-chain via a single oracle.
What's the point of using the security of a blockchain if you're not going to secure the data transmission?

That's like organizing a prisoner transportation using an armored vehicle, but then asking the prisoner to walk two blocks unattended by himself between the prison and the vehicle.

>>51394582
In your mind does real value exist in this space?

>>51394711
no

>>51394621
>Chainlink Lab's token distribution to network operators is similar to BTC's PoW mining rewards
congrats, this is by far the dumbest post I've seen in this board for a while
wow, capped for posterity

>>51394722
he's... actually correct though. I never thought about it that way but it's a gigabrain take.

>>51394722
This has been posted about for years new fren

>>51394722
How is it not?
Both are inflationary rewards for nodes.

>>51393629
inflation adjusted there were no mania bullruns for crypto. btc is the same price it was years ago with no account for inflation. the fed printed the whole crypto marketcap for a meme flu.

how does that make you feel?

>>51387141
>I am making a Chainlink thread. This is to discuss, the technology instrument known as ChainLink a Decentralized Oracle Network, and it’s profitability potential.

>>51394806
is this bait? holy fucking shit, you can't be that retarded

>>51394855
So explain how it's not.

>>51394721
Thank you for your time.

>>51394879
there's nothing to explain to you, it's blatantly apparent you don't have the slightest fucking idea about the space you're invested in
enjoy losing your lunch money

>>51394678
Not all data needs an oracle. Web 2 exists outside of chainlink and Icp will too for most of its data.

>>51394911
>ZERO response
k

>>51394922
>Not all data needs an oracle.
All data going into smart contracts does.

>Web 2
You don't need blockchain at all for web 2.

I own no LINK and I am happy.

>>51394911
so you're not going to explain?

do you retards seriously do not understand the difference between a proof of work based, hardcoded on the protocol level reward system which literally mines the capped supply in a deflationary manner and a premined, manual token distribution by a centralized company pretty much like Ripple Labs?
what the actual fuck happened to this board, it seems like only retards are posting

>>51394342
You mean 10x against ETH?

>>51395071
>capped supply
Yes for BTC and Link, no for ETH

>in a deflationary manner
No for BTC, Link, and ETH.

>manual token distribution
Link tokens are distributed via smart contract. They are paid out using transfer&call. There is nothing manual about it.

Congrats, you're likely the least-informed poster itt. And that's saying something.

>>51394958
The entire canister is a smart contract,on chain, that will interact with off chain data and uses increased security a blockchain offers along with everything else.

Stay on web2 I couldn’t care less. Oracles not needed for this and that’s fact.

>>51394969
I think what he wants to articulate is that LINK and BTC are not currently similar in that regard and even when LINK begins rewarding nodes this will not be one-to-one identical to how BTC operates. He thinks like this because he has severe autism and cannot fully abstract. In his mind he's unambiguously correct because they are not identical but he also instinctually knows from past experience that abstraction is his blind spot so he starts fuming and shuts down.

>>51395174
>The entire canister is a smart contract,on chain
So when it needs external data, this requires a decentralized oracle.

>that will interact with off chain data
This makes it a centralized oracle.

>>51395071
Pretty amazing how nothing you're saying is accurate.

>>51394958
>You don't need blockchain at all for web 2.
In Web 2, you don't know what code is running on the backed. With smart contracts, you do know the code that is running. If you trust the API this code is calling to get data, everything is great. Adding some middle man interaction to calculate some medians doesn't add anything here. It's needless complexity, and you have to give money to the middle men. That would be stupid.

>>51387141
going down faster than you can say bigmac, see you at 5

>>51395226
>If you trust the API this code is calling to get data, everything is great.
So oracles can't be compromised, attacked, fail, ...?

>>51395217
>requires a decentralized oracle
It does not. Isn't that great? All the complexity gone. The code just calls weather.com directly. It's an obvious simplification of the system, and everybody trusts these established APIs anyway, no need to aggregate them and pay a premium for this. Just avoid the entire unnecessary token exchange shenanigans as well. This model covers like 99% of all the use cases where you need offchain data. Maybe price data for token prices used in glorified online gambling requires this complexity, but that's very niche.

>>51395217
Call if whatever you want - I’m not sure what your point is. Icp will pull off chain data directly thought https calls and bring it on chain to use. Link not needed for it.

>>51395312
>>51395315

So centralized oracles are fine?
The absolute state of ICP holders.

>>51395315
Why are you in a Link thread trying to convince people that ICP isn't a big pile of dog shit?

>>51395334
>So centralized oracles are fine?
What exactly is the issue with centralised oracles? If they do the job better and are cheaper to use then wouldn't the market gravitate towards those?

>>51395428
>What exactly is the issue with centralised oracles?
If they fail, get attacked, etc. your contract is compromised.

Why do you think most of Defi turned to Chainlink you nonce.

>>51395334
It doesn’t need an oracle at all. It’s just api data that gets called millions of times a day without chainlink

>>51395265
These are not oracles. It's just some API. The whole internet works like this. If the call fails, you let your own call fail and let the caller try again. If this is a large scale API, the owners make sure to have failover strategies in place so that doesn't happen. Failure is normal, it's unavoidable, taking medians is not solving that problem, it just adds another layer of complexity. What if two of the most reliable oracles don't return values? You'll get a median of the less reliable remaining oracles, sweeping the problem under the rug. Fail fast, don't act on bogus data.

>>51395428
The market already gravitated towards decentralized oracles

>>51395466
>>51395470
>it's an API, it doesn't need oracles
It's pretty amazing to see how you faggot(s) have no idea what an oracle is even for lmao.

>>51395459
>If they fail, get attacked, etc. your contract is compromised.
And what happens when chainlink fails/gets attacked. Decentralisation is a feature completely unnecessary to oracles. What is required is the correct type of data provider which is trivial to find. Chainlink will be replaced.

>>51395530
>And what happens when chainlink fails/gets attacked.
You can't attack "Chainlink", you'd have to attack the majority of all nodes participating in the feed.

>>51395413
Oh sorry to interrupt your majesty

>>51395530
>>51395543
Even when the entire market was shitting the bed, Chainlink was literally the only oracle that didn't fail under the extreme stress.
Some nodes gave incorrect prices, some stopped working due to the exploding gas price, but the overall feeds were still up and running. Meanwhile literally all the other oracles failed.

>>51395524
Ah, I see where the problem is. You think that data needs to come form an oracle, because you don't know basic software development. It makes sense, it's what the marketing material told you. But it's wrong, you can just call an external API when the platform allows this. Ethereum does not, that's why data has to come from an oracle on that blockchain. Other chains do, so this restriction does not apply to them.

>>51395630
>You think that data needs to come form an oracle
You are too dumb to be real. There's no way you're not just pretending to be this retarded.

>>51395630
And how are you verifying the authenticity of said data in a way that improves on the status quo in this scenario? You have. It addressed the garbage in = garbage out issue

>>51395524
It’s even more amazing you can’t accept the fact off chain data calls don’t need chainlink on Icp canisters

>>51395664
Why not just admit your own ignorance? It's the adult way to deal with a situation where you have been wrong. Stooping to insults makes you look weak.

>>51395713
>off chain data calls don’t need chainlink on Icp canisters
Centralized oracles existed before Chainlink, and they were always shit.
Which is why the biggest centralized oracle operators from before Chainlink (Oraclize, Maker, ...) are now running on Chainlink as well.

Judging by the ICP shills itt, it looks like you're stuck in 2014 in terms of oracle knowledge lmao

>>51395769
>you can just call an external API when the platform allows this
You mean like Compound did here: >>51395524

>>51395686
You already improved on the status quo by making the code that is running transparent. If the user of your contract trusts the APIs you call, they can trust the whole system. Price data for tokens is maybe the only exception where some aggregation might be useful because the liquidity is so low that attacks are feasible, but that could just happen offchain (or in another of those contracts) as well. It's a very niche use case.

>>51395713
Can you help explain pic related? It seems like ICP will in fact use link

>>51395869
kek
Using Chainlink actually makes sense, this way the canister can simply call the Chainlink feed and all the hard work is already done at that point.
Much faster, cheaper, safer than having dozens of canisters replicate Chainlink feeds themselves.

>>51395841
I can repeat this point again if you'd like. Price data for tokens might very well be the only case where some aggregation is needed. Since you can just call any API yourself, this might as well be a library you add to your smart contract. When arbitrary HTTP calls are possible, the need for oracles is diminished greatly. And that's great for users, much lower fees for everyone.

>>51395931
>Price data for tokens might very well be the only case where some aggregation is needed.
oh boy

>>51395771
I understand you’re upset at the first actual proven case of token simply not needed, and it’s Icp that did it which hurts bad

>>51395860
Holy kek anon just go back to R*ddit. This stuff is clearly above your pay grade if that’s what you think

>>51395949
You made that mistake again. When you can't argue your position, using non sequiturs makes you look weak.

>>51395931
>>51395860
Verifiable retard here folks

>>51395988
It's not helping your position if you answer without any argument. Instead, it makes it look like someone struck a nerve and your knee jerk reaction is hurling insults. It's what children do when they can't get their way. Have some dignity, anon.

>>51395860
>if the user of your contract trusts the APIs you call, they can trust the whole system
You see no flaws in this assumption? What if a data provider sends faulty data because they are in cahoots with the smart contract writer and want to personally gain by committing fraud? Fraud happens every day in the business world, why would it not happen under these circumstances either?

>>51396027
It just keeps happening. Maybe you should try reading your response out loud before you send it and think how it makes you look in an argument. If there are two people arguing, one providing insights and arguments and the other one going "pah, nonsense", who would you believe?

>>51396113
Then the user won't call the contract, because they don't trust the API. The contract can't be fraudulent, because the code is open for scrutiny. If the API is fishy at all, don't use the contract.

>>51396171
You’re missing the point. All it takes is one bad actor to ruin what previously would have been a ‘trustworthy’ api. How would you even know the data is faulty at that point?

>>51395131
In English we would say 'regressed an order of magnitude in comparison to ETH'

>>51396001
>makes you look weak
Last time you said this, you ended up conceding that price feeds requires the aggregation of API data.

>>51396136
Perhaps instead of comparing 2 people in 1 thread you should examine the body of work on Chainlink done by anons over the last 4 years. Oh wait you already did and you’re probably just fudding your bags like every LINK holder because you don’t earn much and need more time to accumulate more. Prepare to be priced out EOM

>>51395664
He's not dumb, it's just his icp shill act. Hoping some newfags are dumb enough to fall for it

>>51396203
You wouldn't know the data was faulty, only after the contract executed based on it. That's what trust means. Trust might seem like a really weak assumption, but that's how the entire world works right now. How do you know the stock data API your broker uses to show you ticker information isn't tricking you into buying some stocks they hold? You trust in the API or the broker to have chosen a reliable source. If you are really paranoid, some library can just do the aggregation over man sources and the contract uses that. But for almost all cases that don't involve price data, there is simply no need for this aggregation. API providers want to have users. Call it implicit staking, that was the ChainLink argument, right?

>>51396203
Honestly before this thread I had no idea ICP holders were this lost.

>>51396393
What is the point of moving to blockchain based applications and web3 if it's just more 'just trust us' agreements? Why bother?

>>51396281
Yes, I engaged with your argument and conceded that the niche use case of price data might require some aggregation, which can be done entirely in-contract and doesn't require an outside source that charges money to calculate a median. That's like 0.00001% of all APIs in existence, not relevant at all. We were talking about weather data initially, remember? You just went "pah, nonsense" like a child. I hope you can see the difference.

>>51396484
So if you have an insurance smart contract based on weather data, you would rather call from a single API than a number of API’s, from different sources, reporting the same type of data in order to ensure it is being accurately reported? How is that any different than a price feed?

>>51396473
Because the code that is running is transparent to users. It's only outside data that requires trust (or some in-contract aggregation, if trust is missing). That's already a huge improvement. No need to introduce a circus of weird incentives and currencies to calculate a median.

>>51396505
You could just use a library in-contract that aggregates the data after calling multiple APIs. This completely sidesteps the entire oracle ecosystem and the costs and complexity associated with it. That's moving the goalpost pretty far from the guy wanting to display weather information on his webpage, don't you think? But the solution is more elegant anyway, the only reason this whole oracle circus is necessary in the first place is because arbitrary network interactions are impossible on Ethereum. Lift that restriction, and you open the door to simplification.

>>51396612
Not trying to move the goalposts, I’m just not concerned with simple uses like displaying the weather on a website.
Using your hypothetical model, how would you ever determine which APIs are trust worthy or not? You would need to develop some sort of reputation system, no? For example, what is preventing data providers from colluding amongst themselves when they catch on that there is no system to punish them for it, or catch them doing it other than manual ad hoc review?

>>51396393
It’s not paranoia at all. If billions of dollars are at risk, companies will want assurances that they will not be cheated by data providers. Decentralized oracles provide those assurances. They’re not going to agree to automatically settle a contract they can easily be fucked over on that will require ad hoc manual review and potential legal recourse

>>51387141
is chainlink a pure erc20 token? can it do anything without eth? if eth goes kablooie what happens to chainlink?

I just came into this thread

Clean it up jannies

So linkies just got destroyed by the icee pee holders. You have to sell you link and buy internet computer now.

>>51387141
just buy some $KENSHI

>>51395512
Woahhhhhhhh that infographic shows how fast this token is grow-ACK

>-90%

>>51397593
>b-but muh current price action for an asset which will be used for everything
gonna be buying more tomorrow
how does this make serbian rape-babies like you feel?

>>51397885
woah there cl employee, calm down with the kool-aid

>>51397895
>9pbtid and 7+ hours in this thread so far
>Y-YOU must be a paid employee
do you even know how weird it is that you spend this much time posting about how much you hate link? i like link, and have a decent stack of it and couldn't imagine spending more than 20-30 mins on here a day talking about it
the irony of serbian rape-babies calling link holders schizos /paid actors while acting like schizophrenic retards / paid actors themselves is hilarious to me

>>51397979
still not buying your bags though, does that upset you?

>>51398034
based
>>51397979
cringe

>>51398034
>w-well i'm not buying
okay?
but why are you spending 7 hours a day posting about something you aren't buying?
the more you post and the more you avoid the question the weirder it looks
>>51398044
>6 hours and 11 posts
so are you two friends? do you spend time in the same discord? lmao this is bizarre and sad

>I don’t understand crypto at all
But I heard this coin is WEF shilled/supported. Is this true or did the Nigerian prince scam me again?

>>51397291

Icp bagholders are so retarded

>>51398581
Link holders proved to be uniformed about ICP here - ICP makes calls off chain without the need for oracles and brings it on chain into canisters and they can't fathom it. Can't even accept it being done for a simple API like weather. Can't possibly imagine off chain data can be retrieved without using an oracle or chainlink.

>>51396726
Introducing a social credit system incentivizes collusion even more, since nobody wants to get slashed. Providers will just normalize their data offchain before bringing it onchain, making the whole system useless. Just pick the biggest players right now and aggregate their responses, failing on discrepancies that are above a threshold that makes sense for your application. If the biggest players in the space are colluding against you, the whole space can't function in the first place.

>>51398731
>Link thread
>ICP bag holders enter
> Link holders proved to be uniformed about ICP here

>>51398731
why do I need to learn about icp when this is a link thread and i came here to discuss problems of a Chainlink brand oracled nature

>>51398356
I love how linkies have completely abandoned debating about how horrible of an investment this is and the only retort is now about how da fudddderz spent too much time commenting about it. Complete give up. This is why they say dont marry your bags. Sergey takes a shit all over, leaving you w nothing financially and you would die for him. Its a one sided cuckold relationship. Really sad

>>51399453
lurk moar

>>51392975
>website that just arranges a pixel matrix based on some input data for some humans eyeballs
>also the data is cryptographically useless
>and also the value in providing automated systems data is going to flip the value in providing humans data in our lifetimes

>>51399453
But link secures 75+ bil tvl and is basically the only working, unhackable oracle solution for blockchains. Its worth is already proven even as adoption is just beginning - the onus is on naysayers to prove otherwise but all they prove is their mental illness by spamming biz with hundreds of fud posts with 0 substance every week. If you're here doing it for 6-7 hours a day that's what, a 30 hour work week? He's right. You "people" have nothing but extra chromosomes.

>>51399823
First of all I probably tower over you. Secondly, none of those buzzwords you posted mean shit in the business world, nor will they anytime soon. You are unable to separate the tech from the investment. The tech may be used in the utopian dream world you pussies fantasize about, but the investment is horrible. Youre destroyed on this, clinging to “breadcrumbs” from nobody twitter accounts. The team has gone 5 years and cant release a test version of their main product. In other words, youre sergeys cuckold

>>51399904
>manlet cope
>the business world hates buzzwords
>words words words
manlet meaninglessness detected

>>51398356
Is there something pathetic about devoting several hours of my time to FUD something I don't even hold? I don't know but messing with you linkies gives me immense joy. I will be present in future chainlink threads to shit them up as you have shitted up the board these past few years.

>>51399011
Introducing a social credit system incentivizes collusion even more, since nobody wants to get slashed. Providers will just normalize their data offchain before bringing it onchain, making the whole system useless
Define “nobody”. Do you mean data providers?

>>51400022
pretty sure you have been messed with the entire thread. make a new thread and try again kkkek

>>51399904
So to summarize - you're tall (on the internet) and you think everything is a buzzword... and this is meant to explain why you're a retard wasting hours on biz fudding every day? Makes perfect sense.

>>51400218
manlet problems lel

>>51400086
Yes, I am saying that any system that tries to punish data providers onchain will be circumvented offchain. Collusion can't be detected there, it will lead to worse data quality.

>>51391275
bump

>>51400512
they changed it in one of the updates >>51391275

>>51400309
The data providers are kept in check by node operators who in turn receive rewards for good behaviour, or get slashed for bad behaviour. Bad data providers would be excluded from future feeds. In other words, data providers are not punished on chain but rather held accountable by node operators, who again are incentivized via economic rewards (higher quality future jobs and increased reputation)

>>51400587
this is all future fantasy. right now, Chainlunk nodes are kept in check by Spergey hisself. I member one time a Linkpool node reported incorrectly and Sergey dumped LINK tokens just to fly Jonny out from London to San Fran so he could chew him out over the course of several days with a long and involved philosophy lecture about the virtues of Truth and how Truth>Trust. Jonny told us in Slack he wished he was dead afterwards

>>51400218
>wastes time on the internet psychoanalysing random dudes on an anonymous anime porn forum

Hahahaha look in the fucking mirror buddy

>>51400578
link?

People in this thread have no concept of what Chainlink Labs is actually building, this focus on an API data source is completely missing the point. The true value of the protocol that solves the oracle problem isn't all these memes about data, it is about interoperability and trust minimization removing the friction between any and all systems. Chainlink will be an extension layer to the Internet that facilitates this global systems interoperability.

Having a heap of disparate HTTP data feeds isn't a solution to anything, yeah you can build a Web3 app with this but there are a bunch of trust assumptions involved and this isn't the point / goal at all. And even something as simple as a price feed is vastly more complex than it seems to acheive in a reliable manner and now your app dev team has the burden of dealing with it all.

Noone in this market seems to comprehend how SC's are going to transform things in the future, if we take a "single usecase" as per attached image, there are so many components that go into this and the complexity will be entirely abstracted away by CL. Multiple specific usecase chains/rollups, price/market data feeds, CCIP to secure chain interop, DECO for privacy needs acting as a true evolution of HTTPS, various other service components that will all be called on in numerous ways to acheive this end result. Imagine all the interop involved in producing the digital identities for each country and all the systems (e.g. gov/state data feeds) that need to become part of the ecosystem for these usecases.

You can't do all this right now because there is way too much friction involved, the oracle layer will take on the burden of the security/risk exposure and completely abstract away the complexity so every back-end system in the world can be enhanced with SC's for efficiency gains / cost reductions so on. It all becomes a giant global system of systems streamlined with seamless interop through the application of SC's powered by chainlink.

sirgay looked so rude with his hairy fat belly popping out of his shirt covered in hamburger grease stains during the SWIFT and DTCC panel, i wouldnt be surprised if institutions decided to pull out of the oracle deal after this sign of disrespect!

>>51401671
Yes Chainlink

>>51401707
That use case sounds perfect partnered with a website/smart contract built on the internet computer that you connect to with an internet identity

>>51401842
Yeah it is all just so trivial, you are right I shall sell my LINK for ICP.

>>51401707
based effortposter in this godforsaken thread

>>51401671

>>51394494
Icp is centralized garbage where the contracts run in predetermined datacentres. Decentralised? Censorship resistant? How did mario64 on the icp work out for you guys?

>>51401882
>be good and enjoy the ride frens
I'm not enjoying the ride. What do?

>>51401707
if what you are saying is true why is link down 90% against btc and eth? you linktards keep saying about how amazing the tech is but the price (the market) completely disagrees with you. holy fuck get a life.

XRP 2.0 in this thread

A smart contract just flow over my house.

>>51403098
Most of the features are not out yet and phase 1 of the tokenomics hasn't even been enabled, it isn't complicated. The market has zero comprehension of what the long term tech stack of Web3 is going to look like.

>>51402992
Wait longer mostly

Crypto enthusiasts are stuck on idealistic / impractical purist narratives and crypto haters are right about some of those meme narratives, so you end up with two camps that are both wrong in various ways and neither understand what chainlink labs is building or how smart contracts will be implemented across society.

>>51387141
In your heart of hearts anons when do you see $100/LINK arriving?

It's been 5 years already. I'm so tired bros

>>51396612
>You could just use a library in-contract that aggregates the data after calling multiple APIs.
You mean like a Chainlink feed?

>>51403933
by EOY

>>51403933
Idk. Depends on the staking apy. Anything at or above 5% is pretty good

>>51398731
>Link holders proved to be uniformed about ICP here
lmao no, ICP holders confirmed to be completely in the dark about oracle developments and adoption in the past 5 years.

> ICP makes calls off chain without the need for oracles
No, ICP makes off-chain calls using centralized oracles.

>>51404001
Two more weeks!