/biz/ - Business & Finance

WTF MY LINKS DISAPPEARED

so basically what he says is nobody should fall for the meme and buy into this shitcoin

>The team/advisors vesting schedule—if any—has never been disclosed, so we are not able to discern LINK token’s supply dilution rate, nor the founders ‘skin in the game’.

SH-SHUT UP.

This is it... i'm selling my links to mobius.

>>7145864
lol weak bitch, you deserve to lose all your money

>>7145688
>This philosophical outcome may be the ultimate contribution of protocols such as Chainlink, long after their commercial use case has been either established or disproven.
pajeet grammar all throughout the article and it ends with a dig on Sergey's philosophy background. i caught other references to pajeet arguments i've read here too. it's clearly written by an autist on ruse control.

>>7145898
That guy literally said that Link is worthless and he works for Austere Capital as Blockchain advisory

It's over

>>7145925
>That guy literally said that Link is worthless and he works for Austere Capital as Blockchain advisory
This dude's english is A1, no pajeetery here

>>7145980
i don't understand your accent.

>he still hasnt sold his link for mobius

>>7145688
Check my dubs, this must be significant

>>7145688
wtf is he saying
should I sell?

>>7145943
I believe his point was that it cannot be determined if a decentralized oracle has considerable merit over a centralized one. I have had some doubts about that as well, the company implementing chainlink is likely to trust their private data source.

Basically the guy is a bit skeptical but he also isn't connecting some dots that require a little leap. When investing in something early, you have to speculate a little. He's relying on none because LINK hasn't given many hints at what their doing.

Those willing to take a risk could payoff big. There is a def need for Links services, especially in the financial world and insurance

>>7145688
He is just FUDing right????

>>7146047
Ranjeet, die

>"As stated above, there has been no evidence of the ChainLink network being onboarded by any institution to date."

Shows how much research this garage band hedge fund put into their work. ChainLink network isn't even live yet. Of course there's no evidence of ChainLink network being onboarded anywhere.

>>7146047
Nice fud cuck. You forgot the period after disproven when you edited it.

>>7146047
Sell everything now. It's finally over.

>>7145688
https://zeppelinos.org/

'There has been no evidence of network user traction (in terms of Node activity or institutional partnerships/onboarding) thus far'

>>7146047

He is saying Sergey is a philosophy major running a tech company with a private repo that he is using open source devs to create and you are a fool for expecting a token with 1bil supply to ever be work more than a dollar, chainlink is another destined to fail vaporware project in a long line of discontinued businesses created by Sergey, you fell for memes

I think he just doesn't understand ChainLink. Seems it's not that simple after all. He has a wrong approach.

>>7145688
tl;dr
>you won't be needing those useless LINK tokens, why not give them to me :^)

>>7146047
If you don't do it soon, you'll regret it.

lel. LINK is a shitcoin.

>>7146153
This, I already know that he is a retard for not getting how huge this partnership is

>>7146170
but link went as high as $1.35 before the crash. I guess you can't say "never".

>>7146079
No FUD, he's saying that LINK will prove that multiple validations and penalties to oracles and all that stuff will be industry standard long after LINK itself stops being a thing (remember flash player?)

All in all it's a glowing assesment but it's also a pure shill. Dyor instead of getting shilled on.

>>7146153
Underrated post

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!

THIS SHIT IS GOING TO REACH $1,000 EASILY!
HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

>>7145943
No he didn't i read the whole thing .

puuuh market sold all my link and bought mobius finally

There are a lot of mistakes in terms of grammar and spelling (missing words) but it's not an entire bogus post. He's mostly weighing it objectively and hasn't been brainwashed by all our memes yet. Honestly the way he discusses it reinforces the importance and nuance of the oracle problem for many different reasons And i think smartcontract.com have significant head start in terms of academic work (white paper) and solid advisory for making decentralized oracles a main stream product

EVERYTHING IS ENERGY AND VIBRATION
ATTUNE YOUR VIBRATIONS TO MATCH THAT OF MONEY AND IT WILL FLOW TO YOU

MEDITATE DAILY AND VISUALIZE LINK REACHING $1000 IN THE PRESENT MOMENT FROM YOUR HEART CENTER

WE WILL ALL MAKE IT

Highly sophisticated, professionally crafted fud

>Koralewski

every. single. time.

This guy raises a fair point. My biggest concern with oracles in general is about the validity of the the data being obtained. If the data cannot be validated, what would stop fraud and manipulation of the data being feed into the smart contract?

Can someone give me a clear answer on this?

Of course certain data can't come
from multiple sources but more importantly, it's absolutely necessary for some, like the IoT sensors he mentions because you account for machine fallibility rate.

tldr bullish

By the way, I own LINK and have put a lot of my money into it. But I'm currently reading Black Swan and Taleb says in the book that "The most successful investors don't actively look for information that confirms their position in the market. They try to look for information that goes against their favored position and to only then act out on the position".

As a LINK holder I'm reaching out to my fellow Linkers to actively investigate and disprove LINK FUD with logic and reason. This will only be to our benefit.

>>7146813
Link is done, better to sell now all and buy mobius. They solved oracle problem.

>There are 0 uses in smart contracts for automated data verified across thousands of nodes.

Companies only needing a single source of data will use a single source of data. Thanks captain obvious.

Just sold 1 billion

>>7145864
>This is it... i'm selling my links to mobius.

Enjoy your scam from the land of curry and poverty.

>>7146112
He also failed to mention SWIFT, the AXA Sony Insurance contract, or any of the other test cases that have been used on smartcontract.com

>>7146926
I'm bumping my post for my fellow LINKies to answer.

>>7145688

"We have to question the necessity of a decentralized Oracle network in order to validate data published by singular sources, even if these are non-official or private sources. Introducing additional secondary sources in an attempt to aggregate what is essentially a singular observation introduces spurious accuracy into the smart contract."

The guy is wrong. It does not understand why you need multiple validators to prevent attack. He can pack up and go home.

>>7146813
Having multiple sources , if you have 10 stock exchanges reporting the price of a stock at 4$, and one at 400$, the price will be 4$ and the erroneous data discarded. Can you name me ONE piece of important financial data that only comes from one source?

>>7147138
And this also applies to interest rates, betting odds, insurance rates, basically any statistical data. The author is right in a world without smart contracts, but he obviously can't wrap his head around the idea of a future where we don't need humans to process everything.

Already sold half of my link stack and sunk it into Mobius and Zen. This guy brings up valid points that went under the radar on this forum.

>>7146049
>the company implementing chainlink is likely to trust their private data source.
Lmao, the decentralization isn't supposed to make the data source trustless, peabrain.

>>7147138
I don't know about finance. Link will most likely play the it's biggest role in that environment. I have a more simplistic example in my mind:

You and I bet on a game. We create a smart contract and whoever wins the bet will receive the money. You pick Barcelona and I pick Madrid. The game plays that evening, but we don't watch it. The next day you go to CNN to see who won, CNN says Barcelona won. At the same time, I go to BBC to check and it says that Madrid has won. Now, would LINK visit 10 different sources and see what team is reported to have won the most? What if 6 sources report in your favor and 4 in mine? How can that be considered as proof?

The Rothschilds made their fortune by paying pajeets to spread FUD about the war with Napoleon. How would LINK confirm the validity in such an environment. My whole understanding with validation process is that information will be decentralized and accessible by everyone. How can you be so sure? The big players have always controlled the flow of information. Although information is much more transparent today, how can we be sure that it will still be like that tomorrow?

>>7146112
This very much.

>>7146705
fucking Poles

>>7145688
If the total market cap for Link is 1 billion

Btc is 21 mil at 10k rn
so ...

21m/1b
= .0021
.0021(current price of btc)
= 210

Oracle here. Price for link token in 2018 december 20 is 9.42 $.

>>7147685
>= 210
210/.6 = 3500% gains
So if you buy 1k LNK today
you could plausibly get a roi of 210,000usd - 420,000usd
relative to btc market cap.

This is all theoretical of course

>>7147685
What are you talking about? BTC is not 21m.

>>7147867
>What are you talking about? BTC is not 21m.

About 5 mil have not been mined yet.

>>7147867
Chainlink isn't actually 1 billion yet either though. He just used max supply.

>>7147543
LINK doesn’t have to decide shit. It just takes the most likely outcome or mean average. Is your sources are shit, blame the sources. It’s not the fault of the oracle, the only thing it has to do is to take the data from sources and pass it on.

>>7147952
I know and how could you possible calculate the price of LINK relative to the market cap of btc, when the market cap of btc is not stagnate. Your math is very pajeet-like

>>7147867
He's saying the ratio between btc supply and link supply. If LINK has the same marketcap as bitcoin and 1 billion supply it would be 210 a token. But LINK doesn't have 1 billion circulating supply and it most likely won't have btc's marketcap in some years.

>>7147995
"Blame the sources". What makes you think that people won't just say fuck you to chainlink and Smart contracts and use regular contracts, if you think that chainlink will just respond with "blame the sources" in such an event?

>>7148007
What you reads don’t understand, is that LINK isn’t tied to crypto market cap. Most users won’t even enter the crypto marketplace - they will just call Sergey and order a few million of his internet tokens for their bank’s oracle.
LINK market cap will be 10x of bitcoin’s

>>7148079
If you get shit on on 4chan, you don’t blame your internet provider, you drooling retard, and that’s what Chainlink is - a network provider.

>>7148211

someone call Comcast and tell them that someone is bullying them about LINK on 4chan plz

>>7148211
But if your institution losses billions of dollars by using the Chainlink service, what makes you think that they will keep using it? The only reason the economy is heavily reliant on the internet today is because they make millions of times more profit today, than before the inception of the internet.

Your whole argument is predicated on this notion that Chainlink is something that MUST be implemented into the finance world. Unless you can give me proof that Chainlink will be implemented by legislation and force, I will not buy your argument.

>>7148079
If you put water in the tank of your car instead of gas, are you going to blame the car manufacturer?

With Chainlink, either the client decides what APIs to use, or the node does.
That means either the client is responsible, or the node is.

>>7148175
Sounds good. But what is Sergey going to sell them with? Can he sell the 300 million that the company has? Or the 350 million that goes to node operators? Or the 350 million that's already distributed to holders?

>>7148547
Huh? Re-word your question pls sir

>>7148419
Your argument literally doesn't make any sense. If an institution is losing billions of dollars, you bet your ass they're gonna look into what's actually wrong, and if the source is the issue there's no reason to blame the middleware.

>>7148419
If the source is the problem, it gets assfucked and link continues.
If the node is the problem, it gets penalised LINK and therefore is assfucked.

>>7148175
>>7148622
This guy is saying big buyers don't need to enter the crypto market place. Where else are they going to buy LINK from?

>>7148516
Again, please respond to my question above yours. What makes you sure that Finance will even use Chainlink, oracles or smart contracts in the first place? Your answer is only legitimate and understandable IF chainlink, oracles and smart contracts have already been implemented and established to begin with. Are there any signs or proof that Finance will in fact adopt this new technology to begin with? If so please provide this.

My question concerns not that, but the incentive for Finance to use Chainlink over regular contracts if the possibility of fraud and manipulation is likely in this space.

>>7146049
There are contracts that can't be trusted currently unless you have decentralization, but then there are contracts that can't be done because nobody wants to send certain data to the blockchain. So they're using both decentralization and secure hardware and it's true that in some cases this will be wasteful, but there's no real extra noise being added by multiple external observations because if the oracle network is as robust as it's supposed to be, anyone queried must be sending the exact same answer (if they send an answer). It's hard to go over it in detail, but even if a really badass dude controls the operating system and the network that connects you to the blockchain and the source you want to check, the badass dude can't stop the creation of a secure channel between the blockchain and the source.

>>7148695
I understand the penalization of the Node. That is brilliant, I must admit. Still doesn't stop the source from fraud or manipulation, as far as I can tell. Please provide disprove me, I literary want you to be right. I'm heavily invested in LINK already.

>>7148787
>What makes you sure that Finance will even use Chainlink, oracles or smart contracts in the first place?
>Your answer is only legitimate and understandable IF chainlink, oracles and smart contracts have already been implemented and established to begin with.

Are you saying finance will only use Chainlink/smart contracts/oracles if they have already used Chainlink/smart contracts/oracles?

What the fuck?

>if the possibility of fraud and manipulation is likely in this space
Protip: banks collectively make BILLIONS of API calls every single day.
Any problems at the source, are applicable at this very moment, when oracles and smart contracts are still virtually unused.

>>7148880
Because they can use an average of all the nodes data . If there's an outlier it's obviously wrong. Or take a consensus vote

>>7146047
>Brian Koralewski is currently an Economics and Finance Professor at Nassau Community College in Garden City, New York

Wow, it's almost as if the FUD got slightly better, but is still laughable.

>>7148880
>Still doesn't stop the source from fraud or manipulation, as far as I can tell. Please provide disprove me
I already fully addressed this, see >>7148516

>>7148700
from sergey directly, have you read the whitepaper?

>>7148944
>Are you saying finance will only use Chainlink/smart contracts/oracles if they have already used Chainlink/smart contracts/oracles?

I misspoke. I meant established and agreed on as the new standard moving forward in the Finance sector. Either by legislation or agreement between the different players in the Finance Sector.

>>7148880
>what is blockchain

why are you even in crypto if you don't understand basics. you're gonna get fucked.

>>7149101
The source is off-chain.

>>7147685
Are you accounting for the fact that there is only 6-10 Billion in fiat in the crypto world? Market cap doesn't mean shit right now.

>>7149063
>finance will only use oracles/smart contracts when they are established and agreed as the new standard
In order for it to be the new standard, they first have to start using it.

And I sear to god you must have recently crawled out from under a rock to not be aware that the financial industry has a MASSIVE hard-on for smart contracts.

>>7149122
See >>7148516

>>7148547

350M are locked away in contracts under NDA for nodes by giant professional operators (AKA SWIFT , banks etc). the 350M are for random people who want to run nodes and help decentralize the network, or trade and gain value.

>>7149063

http://fintechnews.ch/fintech/psd2-eu-banks-fintechs-responding-open-bankingapis/10935/

read this. There is legislation framework in works already. Chainling fits in quite well as it would allow EU banks to comply with it, but we have to wait for the mainnet get into robust mode first.

>>7149122
In what Universe are half the News desks gonna report the superbowl for one team, while half the news desks report the win for the other team?

>>7148999
>Nassau community
holy shit kek

>>7145688
1000 dollars eoy

>>7149226
Thank you, exactly what I was looking for. I ask these question, not because of FUD. I ask to in order to help us all a bit. When you buy something like this, you tend to get heavily emotional about your position regarding the stock, coin etc. You can get delusional and blind. I want to eliminate the possibility of a Black Swan by falsifying my opinion of Link, but the Linkies has succeeded once again at disproving the FUD.

So it seems that node operators may not end up being paid in link.

https://chainlink-docs.smartcontract.com/#anatomy-of-an-assignment

>Prices are generally set per request made by the oracle; This can be prepaid for scheduled services, or paid per request for on demand services. Additionally, prices can be set based on the duration of required availability of the oracle.

>The currency is configurable based on the networks that the oracle operates in. Currency amounts are always specified in the lowest possible denomination of the currency(Satoshis, Wei, etc.).

Wtf is my link worthless now? Can someone clarify?

>>7149442
You're interpreting it totally incorrectly. Don't fall for this FUD.

>>7149442
you still need to hold LINK if network gains liqudity in order to compete with other nodes

>>7149442


Wow link isn't required to pay nodes nor to run a node. The tokens a bit pointless then isn't it.

>>7149562
>>7149442
LMAO DELUDED LINKIES HAVENT EVEN READ THE DOCUMENTATION

>>7149199
>the 350M are for random people who want to run nodes and help decentralize the network
lmao no. they're for Sergey to fund development and buy big macs
if you think he's planning on giving random schmucks a free billion dollars you're retarded

>>7145688

written by Brian Koralewski

AND Anshuman Mehta

Anshuman Mehta Anshuman Mehta Anshuman Mehta Anshuman Mehta Anshuman Mehta Anshuman Mehta Anshuman Mehta Anshuman Mehta Anshuman Mehta

>>7147543
>create your smart contract
>determine number of oracles you want to poll
>load funds into blockchain escrow
>pay link to run the contract
>a non-zero number of the oracles which report back provide data which does not match the majority of other oracles' data
>the chainlink network performs a special task involving something like repolling or hashchecking or something idfk
>the smart contract runs
>the smart contract determines that the majority of oracles reporting back with the same data are correct, and those oracles get paid
>all of the other oracles which reported bad data or failed to report back at all are each penalized an amount of link (or anything else, really) commensurate with the terms of the smart contract's caveat regarding bad oracle punishment
>whomever won collects their winnings
>oracles which did a good job have their ratings improve, allowing them into more valuable smart contracts and higher fees
>oracles which did a bad job or didn't even do a job at all but were supposed to have their ratings worsen, allowing important future smart contracts to avoid using them
It's all there in the white paper.

>>7149442
1) it was always known you could run nodes with 0 Link, it just makes you a bottom feeder

2) they're talking about the currency needed to use the selected underlying blockchain, not the compensation for the node. Read the first phrase of the "payment" paragraph in your link.

I'm not going to repeat this. Secretly I want the price to go down so I can buy more.

>>7149876
>Secretly I want the price to go down so I can buy more.

same im not being secretive about it though. Im doing my best to fud so i can pick up as much as i can

>>7146926
this.

How much link do you guys actually hold?

>>7146926
Bumping because true

>>7150084
>>7150209
Don't suck his dick too hard, he was woefully uninformed and was simply fishing to be spoonfed.

>>7148787

Nigger, those sources would be the same with LINK or without. The only difference that LINK does is automate it all in a decentralized manner.

The other person is being kind of a dick, but Brian has deleted the reply and I'm really getting the feeling this is profesionally commisioned FUD. The weird thing is that should mean bad news but for some reason it makes my dick really really hard.

>>7146926
Bump

>>7150990
That's what happens when you spend too miuch time at community college

>>7145688
>didn't sell at 1$
>didn't sell at 90c
>didn't sell at 80c
>didn't sell at 70c
>won't sell at 60c
>won't sell at 40c
>won't sell at 10c
KEK
Linkies are the dumbest niggers ever. there are actually better coins out now than link, wanchain will replace link & will release news and partnership, by the time Sergay realises he's fucked he'll exit scam and biz will own all of link it will bleed to 10 cents & you all will be known as the biggest memes of the crypto boom where literally every shitcoin shittrader made 100x except stinky linkies, & you'll remember reading this post before you put the noose are your neck

>>7149199
>350M are locked away in contracts under NDA for nodes by giant professional operators (AKA SWIFT , banks etc)
So it won't really be all that decentralized then

>>7151674
Since clients get to choose their nodes, it can be as centralized or decentralized as you want.
That's the beauty of CL, nothing is artificially limited.

>>7149876
Thanks for the warning Anon. I was getting worried

>>7147543
You decide the input souces when you and your bud write the contract. If you only chose a newspaper souce owned by your buddys dad, then thats a contract problem and not a problem with the decentralized oracle.

What you should have done in this case is to chose multiple sources that are as impartial to the result as possible. 10 different sources (betting sites, official sportspage, lottery, news etc) should never end up in a conflicted situation.

>>7150245
sure he was. maybe he was just a dick trying to get some people worked up about it. but it sparked a pretty informative conversation (the kind i wouldnt be able to have or take part in) which kinda supports his point of helping each other?

>>7148999
community college, most college students after taking macro and micro econ are just as prepared as this guy talking

>>7145688
>https://medium.com/@brian.koralewski/oracles-and-the-chainlink-platform-806e11bcba9d

lel... This fucking stinks like poor-attempt-manipulation shit. This guy either wants to be able to buy in cheap or has stake in a competing product. Terribly faulted argument written on fucking MEDIUM instead of being addressed internally where it would actually matter for them.

The ONLY reason for this faggot to publish this is because he's hoping it will affect the price negatively.

>>7150990
>commissioned FUD
Pepper your Angus, it's about to get blasted.

>>7146926

LINK holders FUD their own token and it does nothing but rise in value. It's the most anitfragile coin there is.

It honestly baffles me to see people with apparent credibility (ie: the founder of a research group), write something as waffling, inarticulate and uninformed as this.

First he harps on about how a decentralised oracle system has limited utility with a single data source. Great. Agreed. It's not trying to solve that problem and it can't solve that problem. That can only be solved at the data source end. It also only applies to a limited number of cases and, even in that scenario, the ChainLink network is no LESS useful than a centralised Oracle, and is STILL better for trustlessness and redundancy.

Then he says shit like "There has been no evidence of network user traction". Gee, no fucking way. You're telling me that not many people are using the ChainLink platform when the testnet hasn't even been launched yet? What a fucking insight. How would you assess network traction before test net launch? I don't know, maybe by looking at institutional interest rather than adoption. And there's definitely a fuckton of that.

tl;dr this motherfucker with an impressive resume doesn't have a fucking clue what he's trying to say.

>>7153226
Write this as a reply to him on Medium. Fuck this guy. Don't let Crypto Bunny be our only hero. We need vulgar and aggressive responses.

>>7153226

A beautiful post to read. Thanks Anon

>>7153553
No, fuck you. If you want to counter FUD on /biz/ fine, everywhere else LINK is shit.

>>7153793
Exactly this. Why would you want to give normies the chance to buy low

>>7153826
Because I'm stacked up, babe. I'm ready for my millions.

>>7153226
Exactly. He is either not comprehending what they're doing or is deliberately misrepresenting what they're doing. Not sure which is worse.

>>7153826
ICO was low, at this point you're on the bottom of the pyramid

>>7153958
ICO was not low, lol.

LINK price is about 0.45x in ETH what ICO price was.

>>7154145
Correction, meant 1.45x

Impressive credentials
>professor at nassau community college

Dude couldn't read past page 6 of the wp, guaranteed

He wrote an article on stellar lumens on december 17. Clearly he is invested in mobius and fudding link

>>7154145
kek memecoin

>>7146926
>actively investigate and disprove LINK FUD
Lol, how new are you?
If you hold LINK and dont fud it, you're doing it wrong