[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 102 KB, 1080x614, rQQjQM.jpg [View same] [iqdb] [saucenao] [google]
10874790 No.10874790 [Reply] [Original]

the fud to end all fud

you literally cannot refute this

>> No.10874819

>>10874790
This is retarded, you only need to put collateral up when you accept a job from a smart contact. As a ChainLink node you accept a job, collect the data, and then send it back to the smart contract, all of which only only takes at most 10 seconds. if the price falls 99.99% in ten seconds, then we got a bigger problem on our hands. It is not the same as collateral for the loan itself. Jesus this fud is getting more and more stupid as the days go on

>> No.10874820
File: 129 KB, 724x611, senseofaccomplishment.png [View same] [iqdb] [saucenao] [google]
10874820

>>10874790
I'm proud that I brought up the LINK penalty payment price fluctuation issue in a thread here a week ago then linkfags got worried about it and made it into new fud

>> No.10874832

>>10874819
And if I didn't make myself clear, you don't need to keep the collateral for all five years of the loan, only for the time it takes to accept a data request and return the data back to the contract

>> No.10874839

>>10874790
what if a meteor hits

>> No.10874848

>>10874790
>>10874819
>>10874820
>>10874832
>>10874839

Wow - does seriously no one have an answer to this? Guys, is this a dealbreaker?

SERGEY?

>> No.10874887

>>10874819
>>10874832
Then the LINK would only be locked up in the nodes for 10 seconds at a time, meaning that even if against all odds Chainlink takes off and handles requests related to assets worth billions of dollars every day, it would only ever need to have collateral for one such transaction at a time. There goes the "nodes will need to hold 10% of a trillion dollar market in LINK" argument

>> No.10874888
File: 58 KB, 645x729, 1533580444153.png [View same] [iqdb] [saucenao] [google]
10874888

>>10874848

>> No.10874904
File: 197 KB, 1016x795, broken heart.jpg [View same] [iqdb] [saucenao] [google]
10874904

v-vitalik please help, what's a collateral? ahhhh

>> No.10874906

>>10874887
Your collateral as node stays in the node, as it is used for different jobs that will be constantly flowing in if you are a reputable node. It's not like you use collerateral for one job and that's it you're done, no more jobs ever again. It's about volume of jobs mate

>> No.10874915

>worrying that the link price would drop 99.99% if link was running multi million dollar contracts

>> No.10874931

What if after you accept a job your country is nuked... Check mate Linkies!

>> No.10875035

>>10874906
I'm referring to this >>10845134 (pic in OP) that's become popular lately

If the same stack of LINK will serve as collateral for 1000 different transactions today, it doesn't make sense to use the notional size of a financial market to guess the amount of collateral that will actually be held in nodes