/biz/ - Business & Finance

>>8434980
Well, no. Smart contracts will be the biggest revolution since the internet. ChainLink will be a part of that.

>>8434980
Also if you have any Ripple you should sell it for Quantstamp, according to your ID.

>>8434987
>Smart contracts
Wtf are smart contracts anyway? I see people throwing these fancy buzzworsds around all the time but nobody has yet been able to actually explain what they are.

>>8434987
nope. you can also funnel data through decentralized networks without aiding smart contracts.

>>8434980
It was BTFO'd yesterday by nootropicat

You guys know that you should sell now and buy when it is around 0,22?

>>8434987
why do you need a smart contract for information storage? im legitimately asking.

>>8434998
automated and self-regulatory digital agreements.

>>8435026
that are tamperproof

>>8435026
more buzzwords
what the fuck does that mean?

>automated?
wut? the whole point of signing a contract with someone is that it's manual because you read it and in general need to know what you're signing

>self-reguatory
kek, regulated my ass. it's just a fucking contract, you either honor it or you don't.

>digital
a MS office document is also digital. what's the innovation here?

>>8435098
are you retarded? just go to yt a type what is a smart contract instead of embarassing yourself

>>8435098

>>8435098

>>8435119
I specifically asked for someone to explain it and nobody is able to. >hurr go to youtube
Thanks for proving my point yet again.

>>8435098
You legitimately can’t be helped

>>8435124
>>8435129
>>8435141

haha fucking retards
not a single one of you knows what smart contracts are

>>8434998
Money, if it was also intelligent.

>>8435098

>>8435130
I don't think you understand anon. Your questions are so stupid that people either think you are trolling, or that at this point they should at least be paid to tutor your retarded boomer ass because that's what you come off as with your level of ignorance and obvious lack of research into anything to do with crypto. I'll leave it at that because you're just a waste of time at this point.

Perianne Boring is speaking at CONSENSUS 2018. She was also a speaker at SXSW together with Sergey. This could be huge for us Linkies.

>>8435149
Nice b8 but no more

>>8435098
God Tier bait
Perhaps a bit too good.

>>8435244
I wanna fuck her so bad, mommmmmmmmmmyyyyyy aaaaaa
She's so clever, pretty and confident. She's the female version of Chad. Stacy ain't shit.

>>8435098
dude, its not contracts with your fucking janitor. You can sign a contract today with a bank, and they will all be processed manually, even shitty payments have to be manually processed by operators, they are impossible to control both from your side and their lack of auditing can fuck you in the ass, and they are extremely vulbenrable, security-wise. something like a smart contract will change all that
complex tasks that today are still manual (or require some kind of manual input), very hard to audit and vulnerable (which is the entire world of banking, insurances, etc) will all tend to migrate to smart contracts, which allow for an incredible diversification of tasks, all within our control.

>>8435197

>>8435297
She's already been had by the Winkle twins lad

>>8435098
You're an idiot...contract is just a random nomenclature labeled for the mechanism in which you are inquiring about.

A "smart contract" is a mechanism designed to send one function of data as an input that will execute another function of data as an output if and only if the conditions are met by the initiating input function.

So, we have various variables implemented into an input function that will only execute a triggering response (output function) given the variables all match up.

So, for instance...If I have I buy 20 eggs and 1 salad that weighs less than 6 lbs. I will be rewarded with a coupon from Amazon for 10% off my next carton of milk I purchase at wholefoods.

Okay, so if the conditons are right, and I do infact have 20 eggs and one salad that I bring to the weight sensor/scanner at the wholefoods self automated store. I will automactically receive a coupoun for 10% off my next carton of milk I purchase with them...

Done, it's fucking amazing, self-automated, and yes...tamperproof because it's all going to be utilized on the blockchain....

So to answer your question brainlet...Should you dump every last penny you own into chainlink??

Uhhh, yeah you fucking idiot...because by 2020 this will be a reality for everyone, and everywhere you go

>>8434980

>The “if….” component of the smart contract relies on data from outside of the blockchain provided by an “oracle” – which could be a database or a person – providing confirmation that the precondition has been fulfilled. A smart contract is reactive, and only as smart
as the self-executing code on which it is based and the factual accuracy of the data input by the oracle. Where data is automatically obtained and input from
a reliable source, its accuracy may be relied upon. For example a smart insurance contract might have as its oracle a database of meteorological statistics. If the database records a storm or drought (as defined
in the insurance contract) occurring, then insurance pay-outs are automatically triggered. Where the oracle is a person inputting data manually there is obviously a
risk of human error. In the event of error in the coding, the result may be wrong regardless of the accuracy of the oracle.

https://www2.deloitte.com/content/dam/Deloitte/be/Documents/legal/Blockchain%20Booklet%20March2018.pdf

>>8435461
Oh, and the eggs and salad would need to weigh less than 6 lbs....another variable I forgot to mention...

See, even my human error would have screwed up the contract...thankfully once the code is written and looked at carefully before being submitted...it will never be able to make an error.

>>8434998
Imagine if a contract could walk and talk and can interface with anything or anyone including peoples brains, and can fix any problem automatically and no lawyers are involved and you don’t even have to do anything the smart contract does everything for you. Something like that.

Guys, seriously...the only way for chainlink to fail are two ways...possibly three...
Scenario 1: Governments combined gather around for fear of losing control of the general public and the flow of money so they outlaw all cryptocurrencies and only utilize blockchain for keeping records of things. So bitcoin falls to basically nothing, and that's it...the end of cryptocurrencies as we know it.
A very seriously unlikely scenario...

Scenario 2: Sergey doesn't know how to code all of this correctly and make it truly compatible with the ethereum algorithm, translating real-world api's into erc20 algorithms ...and that's it the project ends up becoming a total flop


Scenario 3: Sergey dies before main net gets released...lol

Sergey has lost weight and is taking health seriously. A fatal heart attack from fast food addiction is no longer imminent. Sergey is changing his name to Chad and ChainLink’s to ChadLink.

>>8435461
>muh coupons
Grocery stores already do this using conditional logic eg if they detect you buy a Pepsi you might get a coupon for their store brand Schmepsi. You don’t need a new world of smart contracts to do that it already is fucking working for many years using a little thing called computer code.

have you ever ask yourself , did i do a good job, i'm on the right track ? i for myself i'm asking this every day , and i know i'm on a good track by reading about skywire

>>8435026
Common misconception: there are no fully automated contracts out there. Smb still need to call it and pay for checking the conditions

>>8435635
You're that dumb huh? literally that retarded...I was giving one example...damn man...you can't reason with stupid...

>>8435544
>automatically
So, how do I make a Smartcontract giving me a bj?

>>8434980

>>8435130
you loose through stupid

>>8435776
The problem is that you still have to convert legal language or contractual requirements into code, and that can be fraught with either error or trickery. In most cases the will function just like any conditional logic would, with the same potential issues. Just because they are running in a different platform does not mean they are magical and completely automated.

>>8435377
M-m-mmmommmmy, did i-i-iiiit hurt when those boys spread you and filled you with their meat, mmmmomy ?
Y-y-yyyyou used some ointment, d-d-dddddidn't you m-m-mmmomy ??

>>8435846


It won't be that bad man. Look into Sentinel Logic.

I'm a philosophy major at UCLA and we have to take Logic as a pre-requisite to complete the B.A.

It's all strictly related to implementing arguments into a function of code.

Symbolization, look into it...type in Symbolization logic.

>>8435002
how was it btfoed exactly?

>>8435098

>>8435622
Dubs tell the truth

>>8435935
Okay. No ones given a few good compelling use cases for smart contracts that cannot be done easily today. It’s the same in every thread where this question is asked, people just respond with brainlet memes and buzzwords and “you just don’t get it, do you?”. Care to give it a shot, since you seem to know a lot more than most?

>>8435008
>t. Bottom seller

>>8435149
>>8435026
>>8435083
It's right fucking there. If you dont know what that means go fucking educate yourself

A fucking digital agreement that fucking automatically executes when some fucking previously agreeed upon conditions are fucking met you fucking dumb piece of shit

>>8435477
This is a terrible example. No insurance company will blindly pay out a policy based purely in a set of meteorological data. At most they might use that as one of the data points they use to evaluate the claim, so it can help act as a way to filter out certain claims based on a set of very black and white conditions.
>well looks like there’s a drought in California, better automatically pay out every single insurance claim filed durrrr were smart now

>>8436049
Calm down stinky

>>8436073
Axxa is already doing that on the ethereum public blockchain

>>8436076
Sorry, i cant deal with stupid before I had my morning coffee

>>8436084
Axxa is already doing what specifically? I bet they aren’t paying people just because there’s a drought.

>>8435990
Sure man...What about a health insurance company then.

Let's say you want to sign up for blue shield health insurance. Now, you have to give them a bunch of documentation (real world data) so that the company can accurately assess what payment plan to put you on. This is a very time consuming job, and requires the health insurance company to hire a clerk who compiles all this data, stores it, and gives it to management to go over and review in order for them to gauge what payment plan best fits that individual or individual's family who is inquiring about health insurance.

A lot of things matter when it comes to health insurance, or other insurances in general.. Age, income, predisposition to certain illnesses, current illnesses, location, etc...

So once all of these data points are compiled into one document for management to review. They will then give an appropriate payment plan.

So, we could then use smart contracts to completely cut out the jobs of management, the clerk who takes all the data and stores it in the centralized system of computers they have.

A smart contract will be able to assess all of this data at once and spit out a payment plan almost instantaneously. And all of this is tamper proof because it's a decentralized oracle utilized on the blockchain... But how do we translate all this real world data into an ethereum based algorithm? CHAINLINK!!!!

This is going to save billions of dollars globally...Now do you see how important this could be for businesses?

>>8436126
Thanks for the effort.

Does this mean all the patient’s health data is accessible via a blockchain? How do you secure that?

How does the patient s data get into the system? You still neee to verify if it’s correct.

This may automate some clerical, accounting or low level tech jobs, but I’m not sure how smart contracts are any more than glorified.ini or batch files, just filtering data and presenting options based on a set of criteria. I’m not really convinced by that use case and I think it could easily be done today with the same amount of effort without smart contracts. You still have to set up this whole new automated system in either case.

>>8436126
you do realize even the Enterprise Ethereum Alliance is 100% focused on developing applications for permissioned versions of ethereum like quorum right? The public version benefits because it's all open source but no serious company has ever demonstrated any interest in building on the public blockchain aside from the one meme example of AXA and Fizzy. No company that cares about data privacy to the point where they use a permissioned blockchain, like hyperledger, will ever use a public oracle network that then makes all their contracts public. They just don't care about that degree of decentralization or being ideologically pure.

Chainlink will live or die based on whether a smattering of meme crypto token projects that are still 90% just white papers can displace the legacy financial and insurance worlds. I'll give you a hint, they can't.

>>8436296
>https://www.youtube.com/watch?v=D95jXGCXkqc
Honestly just watch this. It's as good a primer as any.
Or this:
>https://youtu.be/ZA5fHnyjreA?t=114

>>8436308
>public oracle network that then makes all their contracts public.
None of the data being fed through the network will even be visible to the node operators, let alone the public. This is rudimentary white paper stuff.

>>8435098
>>self-reguatory
>kek, regulated my ass. it's just a fucking contract, you either honor it or you don't.
ummmm. contract isn't created till money is ponied up. That is how it is regulated.
>digital
Have fun scanning and faxing. Also, manual contract could be manipulated/altered.

>>8436365
I’ll check those out later so I can understand it better, thanks.

>>8435098
>"automated" and "digital" are buzzwords

>>8435098
you have an iq of 85. the fact that you managed to navigate your way around this board is astonishing.

>>8434980
of course it will.

now its time for your medicals

>>8436417
"Medicals" as in tests to ensure that you are physical well enough to carry out a task.

or do you mean

"Medicine" chemicals which you are given in the western world to help improve health but not for you because you are 3rd world pajeet scum

Doubt it will be revolutionary. It could be months before the main net is turned on on even the ethereum testnet. They haven't even started writing the contracts and it's just way too expensive to use. Imagine paying for gas for 100+ nodes each time you want to use the network.

Cheaper just to pay 1c to oraclize imo, the risks far outweigh the expensive piece of shit sergey has created. Even if 10% of your contracts get fucked by a centralized oracle it's still cheaper than chainlink.

>>8435944
it's a meme you dip

>>8434980
Agreed. I bought in at 1.15. Not even kidding. 2025 and I’m fucking rich

>>8436627
Got to lower that man

>>8436599
the gas required to access the oracle goes on the node operator responsability AFAIK
you can be penalized for not having enough gas to move the LINK tokens around

>>8435944
>>8419577

>>8436694
wrong. Read the white paper

>>8436739
yeah I read that on the slack, was weird as it wasent in the WP but it ws said by thomas so I believe him... maybe its just for now? or maybe I read it wrong?

>>8436599
>takes hundreds of dolllars of middleman payments every time you want to do something
>LINK lets you skip that middleman
>but a 1 dollar fee is too much!
this is how dumb you sound

>>8436599
>oraclize
lalilulelol

There's a reason decentralization is considered important.

>>8435475

>tfw masturbates in public wearing a safety helmet

I’ll take it

>>8436771
Nah that pic shows centralization is key

>>8436774
... key to the outhouse maybe.

>>8436789
Please tell me you’re joking along with me before I fully invest my time in this banter

>>8436831
The pic shows that centralization is shit, among others because it yields a central point of failure. Hence the """service interruptions""".
As well as a central point of attack and tampering.

>>8436599
Oraclize is not secure
https://ethereum.stackexchange.com/questions/201/how-does-oraclize-handle-the-tlsnotary-secret

In what situation would this be more useful than normal contracts?

>>8436862
Situations where you don't want to run the risk of having to go through years of court hearings just to get the other side to honor the contract.
For instance.

>>8436862
DYOR faggot

>>8436848
It must be pretty secure considering the most prestigious ethereum gambling dapp uses it you dumb nigger.

>>8436884
>a fucking illegal gambling dapp uses it therefore it's secure
are you serious?
what stops the owner from paying the oraclize dev behind the scenes to rig the rolls?

>>8436877
Post an actual situation as an example

>>8436840
oh jesus you couldnt see the sarcasm

>>8436884
>degenerate gamblers care about security

>>8436908
Any contract whereby the other side might neglect to honor the contract.
Lol.

>>8436909
Do you have autism?

>>8436928
Post an actual situation as an example.

>>8436937
You can't think of a contract where the other side might neglect to honor it?

>>8436949
I just want an example :(

>>8436964
Any contract where the other side might neglect to honor it.

>>8436907
because they don't use the number straight from oraclize. Jesus fucking christ read the etheroll FAQ; this scenario is explicitly addressed. Plenty of dapps that need oracles are getting by just fine without chainlink.

>>8436970
Ok thanks
Just bought 100k link
Can't wait for my Lambos in 2019

>>8436977
yes they use the number straight from oraclize you fucking retard, there's literally no other way to generate a "random" number on blockchain
fuck off you retarded gambler. after your retarded post >>8436599 any sane person would've closed the tab out of shame

>>8436928
yes heres the banter i was wanting

>>8436970
My current contract for renting a flat has 20 pages, how is smart contract going to enforce anything?

>>8437003
>We don't use the number returned from random.org as our final number (which means in the remote edge-case chance there is ever a rogue employee at random.org, they will not be able to exploit our game, as they do not control our final number), on top of this, we keep our oracle honest by recording the serial numbers returned from our random org responses (which increment by 1 for each response). This means our oracle cannot cheat us or our players without it being detected by submitting multiple requests to random org and only submitting suitable results along with their corresponding TLSNotary proof (TLSNotary proof alone is not enough, because the oracle could simply make multiple requests)

dumb niggers are out in force today I see

>>8436970
If a party is sleazy enough not to honor a contract, they are sleazy enough to rig how a smart contract is coded and executed. People will be looking at the terms presented, they will not be auditing code to evaluate whether the contract will step through the proper triggers to execute as expected. Smart contracts are not immune to sleazy businessmen.

>>8437050
DYOR faggot

smart contracts aren't going to replace currenct paper contracts at first, they will replace digital agreements that already exist

>>8435130

Why is it our responsibility to teach you about a complicated topic.

>Hurr dur Calculus isnt even real
>You fags cant even explain to me how mutli variable Calculus works, its just buzzwords because you cant explain it to me

>>8437074
What digital agreements are they going to replace?
Any examples?
Did they managed to replace anything yet?

>>8437050
A sensor in your toilet bowl will track the cubic feet of fecal matter processed by your decentralized feces duct to determine the status of your occupancy of the premises.
The results are logged onto a blockchain of your choice via 5 independent Chainlink nodes.
When the fecal matter throughput falls to 0 as a result of your demise or your having moved out, the payments to the owner will cease, without prejudice to the contractually provided notice period.

>>8437072
>If a party is sleazy enough not to honor a contract, they are sleazy enough to rig how a smart contract is coded and executed
If you're dumb enough to let the other party set up the whole thing, sure.

>>8437064
Are you actually this retarded? Do you just read a fucking singular sentence on a gambling site and you believe it? Do you actually think they have solved the oracle problem?
Don't you have some money to lose on ethroll instead of shitposting here?

>>8437096
no, because the tech needs a trustess third party (aka LINK) to be more secure than the centralized agreements going on today

it's mostly finances (banks transactions, insurances, loans, etc)


I hate spoonfeeding, you could literally watch one of sergey's talks and you'd learn something

>>8437006
You forgot to switch back to your original ID.

>>8437119
>Go to Bank
>Here’s the loan agreement for you to sign, Mr Anon
>Actually, I thought I’d just use my own self written loan agreement
>Of course, no problem
SAID NO BANK EVER.

>>8437183
Did you think "smart contract" meant "contract that is smart so I don't have to be"?
You'll still need to read what you sign, anon.

Must be tough being a massive brainlet like you.

>>8437096
It hasn't replaced anything but gambling sites and exchanges are currently working in parallel to regular digital agreements.

In any case ripple has hardly managed to replace anything or move beyond PoCs but its market cap is in the tens of billions. All chainlink needs is more good PoCs on the main net and we'll all be swimming in lamborhinis

>>8437123
pic related is you my friend. ps yes there is a lot of good money to be made on etheroll if you are smart

>>8437217
Your dense. I’m saying the underlying code does not have to match the written terms. It’s assumed it will but there is no guarantee unless you audit the code or you wrote it, which most people will not be in a position to do.

>>8437128
The SWIFT relationship and how Link will be involved in the future alone is enough to make Link a HUGE investment opportunity.

>>8437239
>I'm a smart gambler
oh man I wish your mom could see this

>>8437279
And what are the specifics of the SWIFT relationship? Does anyone actually know or people just assuming it’s gonna be so massively huge?

>>8437142
wasnt by choice to be honest, switched buildings. ill take this as a learning opportunity when trying to set up a fake banter with someone in the future senpai

>>8437254
Have you ever seen smart contract code?
I'm willing to bet most people will find this easier to read than boilerplate legalese after just a brief introduction.
It's mostly "if X then Y".

>>8434980
Then why is this piece of shit dropping while BTC is climbing?

>>8437313
Don't worry, you'll get better at banter eventually.

>>8435002
nootropicat... so hot right now

>>8435570
Sergey doesn't even code you wank

>>8437339
yeah i feel like i usually am but we started when i was birthing a pajeet and so i guess my mind went with it

>>8437323
You seriously think Joe 56%Face is going to read an entire legal contract AND a bunch of computer code and understand it? You are beyond deluded.

WTF IS HAPPENING NOW??!! PRICE JUST WENT 0.69$!!

>>8435098
10/10

>>8437383
I'm saying they'll do exactly that, and love it.

Plus, you're thinking way too small. Which is to be expected from a shrimpbrain like you.

Imagine you want a loan.
Well, with smart contracts you can simply put out a crowdfund where other plebs ("peers") can pool money for your loan, where they gain interest payouts proportional to their contribution.
No need for banks, notaries, attorneys, etc.
And all it would take is to use a pre-written smart contract (with minor certified tweaks) from a reputable source.

>>8437424
how people dont think jew lawyers wont hire the fuck out of some coders and patent a contract code and pedal it to their clients is beyond me

>>8437383
And like I said, all it would take is a brief introduction and the "computer code" for a smart contract becomes 1000 times more transparent and clear than any legalese small print.

Smart contract code is basically "if X then Y" with a few brackets thrown in.

This could eventually even replace legalese, which is full of archaic and superfluous verbiage.

>>8437463
They could do that, but so could anyone.

>>8437480
and thats the thing that makes this almost certain to work

>>8437424
The crowd funded smart contract is somewhat interesting. What happens when the debtor does not have enough funds in his account to make payments? Does the smart contract go over to his house and break his knees? Oh I forgot, smart contracts are automated and digital, nothing can go wrong.

>>8434991
Ribble lol

>>8435461
Bro he's trolling y'all and you took the bait you retard

>>8435098
kek holy mother of bait. retards on here calling you the retard

>>8436073
I don’t think it’ll be used for insurance claims since their goal is too scam people out of money and never to pay anything

>>8437524
>What happens when the debtor does not have enough funds in his account to make payments?
Oh my god, what a completely novel problem that has never occurred ever under today's system!
Surely no-one has ever thought of ways to counter such a completely unheard of scenario!

>>8437468
Great idea. Teach everyone in the world how to read code, that sounds totally reasonable and not retarded at all.

Lol retard.

>>8437586
See >>8437323

This "code" is many times more transparent than fine print legalese.

>>8437548
Well all it would need is one company to use it and the public to perceive the Benifit as being greater to them by having a more trusted system.

Then the other insurance guys would follow.

>>8437552
What’s the solution then?

>>8437607
There is none. No-one has ever considered a scenario whereby a debtor is unable to pay his debts, let alone come up with a solution.

>>8436928
I work buying and selling used cars. I have sold motorized cans with wheels that don't deserve to be called cars. I won't be able to profit from retards anymore with smartcontracts being mainstream.

>>8437632
Only if you are a chronic contract dodger as well as a crappy car salesman.

>>8437604
Not at all. It may seem simple to you, but you are showing a very basic set of rules in that cherrypicked example. Now put 30 pages of complex lease terms into code and expect the average housewife to review and understand that shit. You are high as fuck on Linkium nigga.

>>8437548
competition my man. if one party adopts new innovating technology then their competition, which is now seen as inferior by the public, loses their customers.
eventually that's how ALL technology gets widespread adoption

>>8437656
Because the average housewife can understand 30 pages of fine print legalese, right?

>>8434987
>ChainLink will be a part of that.

ChainLink will lead it

>>8437708
And now they have to read 30 pages of legalese PLUS audit all the associated code for those 30 pages of lease terms. And you think this is simpler? Most housewives are intimidated by the right click menu in Windows. This won’t work.

Sounds good, never going to happen.

>>8437805
>And you think this is simpler?
Usually, communicating the same information in two different ways greatly aids in comprehension, yes.

Also, like I said legalese will likely take on a completely different form in the future specifically because of smart contracts.
As it stands, legalese is also "if X then Y", just like smart contract code but with grandiose, archaic, intransparent wording.

Smart contracts would basically be "if X then Y" with a brief introduction and essential notes.

If you've ever bought a house, you'll know that the notary or whatever will go over the essentials, boiling it all down to "if X then Y".

>>8437865
I understand where you’re coming from as far as the need and desire to simplify contract language. But the legalese in contracts is there for a reason, terms are strictly defined within the contract because the contract writer requires them.

A smart contract is not as transparent to the average Norman as people make them out to be. You would need to audit the coded conditions, and even make sure you know what the function calls are actually doing, in order to be sure that the code properly reflects the stated terms. That’s how they can be used by nefarious types to trick people into bad contracts.

>>8437987
Everything you said applies both ways.

Christ almighty dude.

>>8437987
>But the legalese in contracts is there for a reason
Legalese only exists to deceive.

>>8434980
That's funny because last I check nootropicat basically proved ChainLink isn't necessary. I hold 30k link though so I hope he's wrong and you're right. >>8434980

>>8434980

>>8435002
Man, that was some epic fud. Dude could write well, but went out of his way to misunderstand what chainlink actually is. Thomas just'd the fuck out of that quack

>>8438592
>nootropicat
So hot right now.

>>8434998
Lurk more

>>8438532
This

>>8438647
This is the stupidest meme

>>8437987
Jesus christ, this is what templates are for. Sergey specifically addressed this at SXSW days ago

>>8438744
I agree.
That faggot is spouting fud that's been debunked on 4chan long before SIBOS, and yet he seems to be all the rage for some reason.

>>8438760
Were bored I guess

>>8437837
Wright brothers build first airplane in 1903
>Sounds good, never gonna happen
Landing on the moon in 1969
>Sounds good, never gonna happen

You know whats never going to happen? You're never going to accomplish anything of worth in your life.

>>8437987
Listen to the SXSW talk. Ken Moyle is a lawyer and he talks about how this could look in the future.
He says if smart contracts came to fruition lawyers would become synonymous with coders and auditors.

>>8437604
What if it's thirty pages of code full of edge scenerios that will screw you over? What then?
Are you going to decentralize the auditors as well, something that needs a skilled person on hand to explain to retards?

>>8438782
You belong in an oven you fucking piece of shit. Reading your ChainLink disinformation is annoying enough, but now your mind virus has moved on to smart contracts? You shit stains are turning /biz/ into /tv/. It's like you have no idea who your audience is. You're not fooling anyone.

>>8439060
>What if it's thirty pages of code full of edge scenerios that will screw you over? What then?
You mean like small print today?

>>8434980
DELUDED
E
L
U
DELUDED
E
DELUDED

>>8434980
bitconeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee-

>>8436471
You know most of our generics in the West come from India kek

>>8439060
>thirty pages of code full of edge scenarios that will screw you over
Imagine a world like that, oh wait..

>>8439189
>stinkies think ToS are legally binding
DELUDED

>>8437987
>>8438020
>>8438532
>>8438990
A historical trend the past 70 years or so has been an escalation in the deployment of pragmatically obtuse language. See: Brandt, Deborah. “Sponsors of Literacy.” College Composition and Communication 49.2 (1998): 165–185. Note the story of a blue-collar guy who could competently represent unions until corporate attorneys endeavored to make the process incomprehensible.

Smartcontracts have the ability to perform many of the functions of lawyers without the necessity for complex and evolving literacies. They will not make lawyers obsolete, but might render many of their inherently exclusionary or exploitative practices superfluous.

This is one of the great possibilities that Chainlink represents. The little guy will no longer get boned by corporations or governments simply because he doesn't have access to the right education. I remember all those ads during the election talking about how Trump never paid for services rendered and got away with it because craftsmen and small businesses couldn't afford years of litigation -- that simply wouldn't happen with smartcontracts.

>>8439218
>I remember all those ads during the election talking about how Trump never paid for services rendered and got away with it

>stinkies fall for propoganda
DELUDED

>>8439376
Stories with spin, perhaps, but trump has a long history of not paying people.
https://www.usatoday.com/story/news/politics/elections/2016/06/09/donald-trump-unpaid-bills-republican-president-laswuits/85297274/

>>8439218
>that simply wouldn't happen with smartcontracts.
Wrong. Smart contracts that auto trigger need clear well defined data-driven events to auto-execute. If a craftsman does work for Evil Trump, the smart contract isn't going to know the work was completed, or even completed to satisfaction. Also, since it is craft work, there needs to be a human review of the work to make sure it was done to satisfaction. This kind of agreement doesn't seem well suited to a smart contract, since the triggering events are somewhat fuzzy (as opposed to a simple contract condition like "plane took off 2 hours late, pay the insurance").

Evil Trump can still say he didn't really like the job Jose did, and delay payment, the same situation as allegedly happened before.

>>8439162
So the West designs medicine and has third worlders manufacture it for cheap and I'm supposed to be impressed?

>>8439431
See:
>>8439430
It's not just craftsmen, it's salaried and wage workers as well. Sergey has specifically mentioned payments for services as one of the possible uses for the CL network. Depending on the contract specifications and language, link can be used to reduce this kind of fraud and exploitation.

>>8434998

>>8438990
I listened to that talk. It's pretty vague. They all talk about how they hope to have much better foolproof easy to read and understand templates etc. but these are fantasy scenarios till someone delivers. Also, smart contracts are somewhat reliant on the whole world changing to fit their data driven nature. E.g. every possible input needs to be a clear value to enable auto triggering.

So far the example that get's used a lot is the Flight Delay insurance example (which is shit, most people are offered travel cancellation insurance, not this bizarre flight delay insurance which I've never seen, but they chose that because it is a simple data driven event policy, the other Flight Cancellation one doesn't work well as an auto triggered policy because it's too fuzzy.)

>>8435935
"Symbolization"
This is how sergey wrote the legit looking math papers without knowing a shred of math. Prepare your ani

>>8439536
Salary and wage workers in most companies are auto paid via direct deposit, or checks. Smaller companies may not automate it, perhaps because their money flow is too tight, but these same companies who cannot automate it now aren't going to suddenly adopt a blockchain and oracle system or payment either.

Payment for services also requires acceptance of services rendered before payment is made. You can't automate that reporting in most cases, it often requires human review and approval.

>>8435155
>best concise allegorical answer to that question

>>8439212

>>8435098
this is a joke r-right?
you cant be serious r-right?

>>8435098
This anon just wanted more dumb wojaks for his folder

This nigger is watching the repository now, didn't see him at first but he hasn't been mentioned here

https://www.linkedin.com/in/vikrampatankar/

Yes I know it doesn't necessarily mean he's interested in a professional sense representing his company, but the fact that people of this caliber are interested is great.

>>8435098

>>8436877
does this really happen so often? Why can't everybody just stick to what's been agreed upon? god the world is full of pricks. glad I'm all in on Chainlink so I can fulfill my "suicide-by-escort" plan in a couple of years

>>8435098
lmao, next time you want more brainlet memes just ask

>>8439990
Eww pajeet

>>8440102
lol

>>8436877
Post an actual situation as an example

>>8439431
>If a craftsman does work for Evil Trump, the smart contract isn't going to know the work was completed, or even completed to satisfaction.
pretty simple, actually. Trump takes himself out of the equation by defining "satisfaction" as whatever a 3rd party inspects and deems satisfactory; similar to an appraisal or city building inspector. the triggering event would be determined by 1 or 7 or ??? of these inspectors confirming that the job has been performed to contract standard.

>>8440198
There aren't any.
Contract defaulting doesn't happen.

>>8440102
lol...

>>8439614
The public infrastructure of entire countries changed to accomodate the automobile, same will happen for smart contracts

>>8440200
So, let's take Trump out of this.

You hire a painter or handy man. Instead of just paying him after the work is done, you now hire and schedule a group of independent inspectors to make the determination if this handyman did the work the way you wanted it done? You think this is a simpler system? None of this shit makes sense outside of some specific data driven types of agreements. You guys are literally all high as fuck if you think automated smart contracts are going to replace most instances of everyday contracts we have today.

>>8434991

kek

FYI the Ari Jules talk from the MIT Bitcoin Expo is on YouTube. Just search for “Mit bitcoin expo”, he’s in the day 2 room 1 video.

>>8440102
tell us more, anon

>>8436107
What are you, a t-shirt from walmart?

>>8439676

Yeah. I bet Sri Juels is a fucking brainlet too you faggot

>>8440481
thanks
https://youtu.be/ZmVzRmBVzWk?t=1h34m8s

>>8440327
>You think this is a simpler system?
of course not. it was a stupid example and a convoluted solution. i don't even know why i bothered responding to the post.

>>8435098
ChainLink is not only a bridge for triggering smart contracts from other platforms but is also the first one which can securely insert offline data into smart contracts or grabbing them out from elsewhere. Every single visionary use case with ethereum you heard of needs data from outside of the crypto Ecosystem.

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!

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

>>8441227
you are a MANIAC

Let's just hope no-one comes along with a bigger or better implemenetaion, right?...

I AM VISUALIZING DUBS

LINKIES STAY SUPER STINKY $1000 EOY

>>8435000
>nope. you can also funnel data through decentralized networks without aiding smart contracts.
what would be an example/application of this?

>>8442075
General notary services for instance.

In Georgia blockchain-aided mortgages are causing notaries to go out of business at a rapid rate.

MAN will destroy chainlink

if dubs, $1000 eoy. Otherwise only a 7 can save linkies

>>8443674
Rolling

>>8436908
Marriage

>>8440102
Do you plan to bang hookers raw to get AIDS? Or just die from having too much sex and getting haemorrhage in your dick.

>>8434980
>he just got lucky!
>ughh so unfair, if i knew about crypto i too would be rich like him
>fucking lazy scammer
>i bet he's depressed. it's impossible enjoying being rich if you haven't worked hard for it.
Don't mind me, just posting some of the guaranteed to be made remarks after we get rich!

If chainlink is so revolutionary why does the market says otherwise

>>8444754
you mean like during that long flat low price on btc's graph? eth's? ans? this is the accumulation phase. buy now or stay poor.

>>8444769
Only 1/3 in circulation anon

Not the same

>>8444908
assuming when mainnet comes that 1/3 will still be in circulation

>>8444908
ans only had 1/2 in circulation. it's not a big deal, newfag.

Could some nice anon give me an estimate on how to get as much link as possible? Gonna hold until I make it...
Have 1k in GDAX right now.

>>8444946
make a binance account and send your btc / eth there.

>>8444960
Withdrawal fees on finance is crazy

>>8435002
That kid is probably gonna kill himself >>his circular logic filled by copious amounts modifil misses the whole point and hasn’t even read the whitepaper
>>smart contracts become technology/finically/governce groundbreaking advancement making the original leadger and contract look like a Hot air-balloon does compared to a smart contracts looking like a SR-72

Link is still in position for being the de facto oracle in the next industrial revolution, hope he dies in regret

>>8445056
Binance*

>>8445056
but i think theyve proven pretty above board. wouldnt worry as much leaving it in binance versus other exchanges

>>8445092
this. it's the only exchange i feel good about leaving stuff in.

>>8445092
Is forkdelta not safe enough?

>>8435149

>>8445114
idk never tried it. as far as im concerned binance is fine to hold stuff on there. i dont hold everything there though

>>8437279

CL is involved with helping Swift improve their current process to assist with retaining their foothold that they have in the transfer/settlement of international transactions between Banks. To do that. Swift needs to improve their current process, to include developing a protocol for connecting payment networks and distributed ledgers used by financial institutions to send and settle international payments. Sergey has stated repeatedly they are involved with Swift. To what extent remains to be seen, but as for me, hodling my stack and hoping to make it bigger.

>>8444960
Already have that, i mean how should I buy, that means when?

>>8445206
yesterday was a good opportunity. buy some bnb first though.

>>8445206
nobody fuckin knows that. now seems good but it could go down even more tomorrow. or it could moon tomorrow.

>>8445206
Jump in now my man. Trust me, unironically.

>>8445345
>>8445215
>>8445214
I know I missed the fucking dump by 30 hours thanks to transaction duration... should I just average in at 5x200€ for the next 10 days?

>>8445443
if you believe in it just buy it. there are plenty of us here that went all in above you and no one is worried about it lol

I have 200k+ LINK about 33% of portfolio (most is illiquid) and I’m seriously considering dumping 10k from either cash savings or my 10k mutual fund.

Is there any point? If it blows up it won’t make that much difference between 20M and 22M, and the safety cushion is good to have.

>>8434980

>>8445539
Just think of how important that 10k is to you now and how important that 2mil will be to you in 2020. Do what you have to do, that's still way more than 90% of us here have at all.

>>8445494
You're probably right... life was easier when I put my first grand into req at almost ATH at the time and it still 4xed from there and now I'm almost even again...

>>8445539
I'd just stay where you are desu. Say we estimate a conservative $5 eoy, you've still made it with what you have. The safety net now is worth it more than a bit extra in a couple years

>>8445193
They did a PoC with SWIFT. The PoC is over and any other swift info is pure speculation. PURE 100% speculation. I want it as much as anyone else, but you must also be realistic. SWIFT is not going to use ChainLink. If they were, they would have devs contributing to it.

Think about it like this, do you purchase every peice of food in a grocery store you sample from the little old ladies? I actually think that 99% of people don't, they just like free samples. I think SWIFT is in the same boat. They want to sample as much new tech as possible, and they sampled ChainLink. They probably will not end up using it though. This is why I sold my LINK at the top of the last pump. You think if swift was going to go in, they would be contributing money and programmers. But they are not.

>>8445853
So you think swift is just going to let ripple slowly take away their business? What other technology are you aware of that swift has "tasted"?

>>8434998
>Wtf are smart contracts anyway? I see people throwing these fancy buzzworsds around all the time but nobody has yet been able to actually explain what they are.
It's a contract that is smart...duh. Dumbass. If someone has to explain it to you, then you are too dumb to enjoy the gainz.

>>8445853
ill believe you when the team itself has said so other than that you're just speculating like the res to of us

>>8445853
>Think about it like this, do you purchase every peice of food in a grocery store you sample from the little old ladies? I actually think that 99% of people don't, they just like free samples. I think SWIFT is in the same boat. They want to sample as much new tech as possible, and they sampled ChainLink.
stupidest comparison i ever heard

>>8445853
LINK are currently working on bond payments with SWIFT

>>8445853
you are a MANIAC!

>>8445999
I think the burden of proof lies on you friend. Prove to me SWIFT is using ChainLink. And no, a PoC does not count.

Businesses do PoCs all the time for every product. A very small number of them get pushed to production. I am a software developer. I throw away a lot of prototypes. Every Enterprise does. Most code written doesn't see the light of day because it's prototype PoC trash.

Pretty sure if swift used the PoC, and wanted to push it to production, they would have a bunch of swift engineers committing code to GitHub so they can ensure ChainLink meets the requirements of swift. Instead, swift said "wow smart contracts are great, as judging by our poc. Still need a lot of work though, and there are scalability issues ready to be solved."

You think if they were planning on using it, they would mention it so member banks can get ready to implement. And don't give me that secret NDA conspiracy crap. It's open source code, swift isn't contributing because they aren't using it. You are deluded if you think otherwise.

>>8445999
desu, I...

>>8446167
>Pretty sure if swift used the PoC, and wanted to push it to production, they would have a bunch of swift engineers committing code to GitHub so they can ensure ChainLink meets the requirements of swift.
not necessarily. you're stupid if you think this is a good argument in your favor.

>>8446167
>>8424614

>The only other thing I've seen them respond to was people questioning SWIFT. Which 1. happened when datadash said it was off to which rory replied it was not, and 2. Another time someone asked and Rory explicitly said they would tell us if it was off, neither of which were meandering or equivocating and pretty clearly bullish.

I don't have the source for this though, anyone know where this is from?

>>8446393
somebody from slack asked rory if things were going good with swift and he replied that things are going very well there was a picture floating around here with the text

>>8446167
Eh.. I call BS. Prove they are not.

I see presentations with Swift's name all over them delivered by Sergey and CL. That is much more evidence than your FUD saying they are not. You will likely regret the decision to sell your stack.

>>8446447
I was with Rory when he responded to that, he was snorting a line of good blow off a prostitute's buttcheek and he laughed his ass off afterward. I believe his words were, "WOOO!!"

>>8446447
someone w/ access to the slack should ask again for an update

>>8442662
>In Georgia blockchain-aided mortgages are causing notaries to go out of business at a rapid rate.

That's using a smart contract you brainlet. That's what a smart contract is for - you can attach things like land deeds and titles to a token for tracking, let a smart contract handle it.

And that has NOTHING to do with Chainlink, which is about getting 2 way communication with external data sources working efficiently. Whole different use case.

>>8446549
Hey i found it pic rel

>>8446497

https://youtu.be/ZmVzRmBVzWk [Embed]

Smart Contract = TownCrier = Chainlink

Go to 1:37 to see Ari speak.

>>8443454

God you're a moron. Chainlink is an ETH token & project (primarily) - it's not a blockchain in it's own right, it runs on top of other platforms to enhance their functionality.

And MAN is a fucking scam. "Muh AI powered blockchain". AI has nothing to do with Blockchain - and all Man is, is a chatbot hooked up to a code generator. We can write one NOW, hook it up to Ethereum and it'll work.

It's all about the ecosystem faggots, and Ethereum is by FAR the most developed - and Chainlink is what's going to fuel the moon rockets.

>>8444754
>If chainlink is so revolutionary why does the market says otherwise

It's not out yet. There's an alpha, but that's all. Software doesn't get built overnight, this shit takes time. For now, we just buy and hold. Just try to accumulate your way up to 10,000 or so. Thanks us later.

>>8446621

1:34

>>8444946

use IDEX or Forkdelta, or some other DEX. Much cheaper. Binance is now only useful for non-ERC20 coins.

>>8445114

It's fine - nothing wrong with it. It's tied to your private key (ie your Metamask), so the problem is YOU getting hacked, not them. But if you're not a brainlet it's safer.

Binance are great though for a centralised exchange.

I'm honestly not scared of LINK failing, I'm scared of waking up one day and seeing that it's suddenly up 5000% and selling way before it tops out. I read that story of that one guy selling his ETH stack last march or april when it hit $40.

>>8436073
>No insurance company will blindly pay out a policy based purely in a set of meteorological data.

happens daily

https://www.usweatherinsurance.com/
http://weatherins.com/
etc etc

shit up or fuck off pls

>>8446718
Have a plan for that .. set a number (ie. 33%).. sell that at the initial target you set then HODL. In most instances that initial 33% gets your investment back plus then you hodl for the moon.

>>8446718
I'm honestly scared of becoming a millionaire and having to live a new secret life and worry about whether the money I spend is going to good use or not

>>8446791
wow. id be more concerned with being able to cash out 1 million getting the irs off your back and diversifying it before the stock market/dollar/world economy crashes

>>8446981
My diversification plan is MREs, land, livestock, firearms/ammo, and other assorted survival shit lol

lmao linkies, buy DBC faggots now or stay poor.

>>8440102
anon this shit happens all the time. we had an instance where our contractor had an inspector on site who signed off on all the hours and work and they still wanted to say we didn't do work to their satisfaction despite their inspectors never making any such comments during the work. This eliminates all of that bullshit as long as you can quantify the work. Any trouble is getting clients to pay on time.

>>8446673
But the spreads...

>>8435098
what the fuck