/biz/ - Business & Finance

File: 13 KB, 384x384, unnamed.jpg [View same] [iqdb] [saucenao] [google]

Anonymous Mon Sep 10 04:09:16 2018 No.11020101 [Reply] [Original]

Anon, help me figure this out.
Assuming Link remains at 24c when mainnet is live, what would the sum total of all LINK being locked up as a penalty among all nodes providing data for a $100k contract?

Would it need to be $200k worth so that it would take a majority to have innacurate data be accepted?

>>	Anonymous Mon Sep 10 04:11:24 2018 No.11020113 >>11020101 t. singularity

>>	Anonymous Mon Sep 10 04:15:31 2018 No.11020132 >>11020101 Penalty fees are not 200% of the contract in any situation.

>>	Anonymous Mon Sep 10 04:18:14 2018 No.11020151 >>11020132 As in say 100 different nodes verifying this data. $2k dollars each. Would need this so that it costs more than the contract is worth to have a majority which would ensure correct data

Anonymous Mon Sep 10 04:22:00 2018 No.11020170

Insurance fees don't cost more than the product you're insuring. It will be a small percentage of the contract value and remember that it will only be "staked" for the very short duration of actual execution. The value prop for LINK isn't in all the tokens getting locked in contracts for large amounts of time, it's in there being such a high volume on contracts that there is a constant demand pressure, even if the staking quantity relative to each individual contract's value is small.

>>	Anonymous Mon Sep 10 04:25:29 2018 No.11020186 >>11020170 It's not a fee if you provide the correct data (or the common consensus). If the sum total across all nodes is not worth twice the contract it is profitable to game it (if the contract is in your favour)

Anonymous Mon Sep 10 04:30:01 2018 No.11020206

>>11020170
5 year wait minimum. Suppose average contracting parties pay ~1 cent per node per api call and there are 50 nodes pointed at their contract. At 1 million chainlink requests per day, that's only $500k of daily buying pressure due to actual use. Chainlink's value prop is embarassing.

>>	Anonymous Mon Sep 10 04:32:17 2018 No.11020218 >>11020151 This! In the decentralized world, many nodes with small amounts can all be combined and used to prevent 51% attacks

Anonymous Mon Sep 10 04:35:12 2018 No.11020229

You don't need stake 200% of the value of the contract. You probably won't even need to stake 100%. The fact of the matter is that the person or entity who is going to use chainlink will determine how much they want to have staked for their contract.
Generally I imagine that the amount will be however much it would cost to reverse the transaction (lawyer fees, accountant fees, programming fees, etc). Likely will not exceed 10% of the contract.

>>	Anonymous Mon Sep 10 04:40:09 2018 No.11020253 >>11020186 And how would you game the contract?

Anonymous Mon Sep 10 04:40:25 2018 No.11020255

>>11020206
Im not talking about the price per API call. You are right, that would be miniscule. 1 link (24c) tops per call most likely.

I'm talking about the link required as penalty (staking?) To prevent a 51% attack and provide incorrect data to a contract. It needs to be higher than the contract (but split among all nodes involved)

>>	Anonymous Mon Sep 10 04:43:00 2018 No.11020265 >>11020253 If I was deploying the contract and had potential money to be made I could have the majority of nodes (my nodes) provide me the data I need

>>	Anonymous Mon Sep 10 04:45:35 2018 No.11020272 >>11020265 But the counterparty to your contract would never agree to letting you choose your own nodes.

>>	Anonymous Mon Sep 10 04:46:53 2018 No.11020280 >>11020272 And they would know they are my nodes beforehand how?

>>	Anonymous Mon Sep 10 04:47:24 2018 No.11020282 Given how incompetent the team is right now and the amount of expose it has on 4chan, what is really going to happen is mainnet releases and then the buggy code gets exploited then your link gets stolen. The end.

>>	Anonymous Mon Sep 10 04:48:14 2018 No.11020288 >>11020265 Are you retarded

>>	Anonymous Mon Sep 10 04:48:20 2018 No.11020289 >>11020280 Because of the reputation contract, it will say who the nodes are registered to.

>>	Anonymous Mon Sep 10 04:49:13 2018 No.11020293 >>11020288 Yeah lets do a network providing data with nothing at stake. Do you realise how dumb that sounds?

Anonymous Mon Sep 10 04:54:48 2018 No.11020316

>>11020282
can confirm, my dad is a hacker working at the NSA and he told me they already cracked the code, actually the password of the whole chainlink infrastructure is the name of rory's wife's son's father, it's a private joke sergey and steve have when they make fun of rory, basically just enter TYRONE in linux hacker interface and you can steal all the links on the nodes, he told me

>>	Anonymous Mon Sep 10 04:59:24 2018 No.11020334 File: 1.94 MB, 230x175, 1439487241493.gif [View same] [iqdb] [saucenao] [google] >>11020316 >the whole chainlink infrastructure is the name of rory's wife's son's father

>>	Anonymous Mon Sep 10 05:02:37 2018 No.11020348 >>11020293 Do you realize how dumb using your own nodes on a decentralized oracle sounds?

>>	Anonymous Mon Sep 10 05:12:50 2018 No.11020393 >>11020348 If money is to be made people will

Anonymous Mon Sep 10 05:15:29 2018 No.11020408

>>11020265
So?
1 You wouldn't have access to your node's enclaves. The only thing you would be able to do is shut off your nodes.
2 If you shut off your nodes, you would lose the Link you staked in the nodes in order to pay lawyers in order to set things straight in court.
3 You would lose the court case because you basically tried to steal from someone by gaming the system.

Anonymous Mon Sep 10 05:31:40 2018 No.11020490

>>11020316
STOP INSULTING RORY YOU MOTHERFUCKING TWAT OR I WILL LITERALLY WRECK YOUR SHITTY ASSHOLE WITH MY 10 FOOT DONG.
FUCKING FAGGOTS I SWEAR.
LINK IS THE ONLY WAY WE CAN BREAK THE JEWISH CYCLE AND MOVE TO THAILAND AND MARRY A CUTE VIRGIN 14 YEAR OLD GIRL AND LIVE THE LIFE WITH THE ANON FRENS FOREVER AND EVER HAPPY AND BREAK AWAY FROM THE CHAINS OF THE JEWISH GLOBALISTS WHO SUCK THE BLOOD FROM OUR YOUTH LIKE MAD VAMPIRE LORDS FROM SKYRIM DAWNGUARD EXPANSION PACK.
I AM MAD AS HELL AND RORY IS A REAL MAN WHO HAS A GF AND SHE NEVER KEKED HIM IN ALL THE TIME THEY'VE BEEN TOGETHER FAGGOTS.

>>	Anonymous Mon Sep 10 06:20:39 2018 No.11020745 >>11020206 REFUTE THIS

>>	Anonymous Mon Sep 10 06:22:37 2018 No.11020756 Where to buy chainlink tshirt? EU feg here

Anonymous Mon Sep 10 06:24:48 2018 No.11020762

>>11020229
>Generally I imagine that the amount will be however much it would cost to reverse the transaction (lawyer fees, accountant fees, programming fees, etc). Likely will not exceed 10% of the contract.
brainlet here, i was always wondering about why the fee is lower than the contract value. quite simple actually, but you cleared that up, so thanks.

Anonymous Mon Sep 10 06:35:14 2018 No.11020818

>>11020745
The implication is that the only buying pressure will be people buying link in order to pay node operators, but this won't be the only buying pressure. Here's another buying pressure example.
Node operators will be paid in link. These node operators have an incentive (especially early on) to reinvest the link they are paid by adding it to the link they stake in their nodes, thus constricting the supply, thus pushing the price up.

>>	Anonymous Mon Sep 10 06:41:01 2018 No.11020842 File: 396 KB, 960x540, 1516835926560.jpg [View same] [iqdb] [saucenao] [google] >>11020316 >>11020490 kek saved both of these for future use

Anonymous Mon Sep 10 06:56:20 2018 No.11020923

>>11020745
Easy, he is only taking node payments into account. He has not considered the link locked up as penalty which will be substantially more then the node payments. $5000 eoy 2019 would be fud once there are anything over 10k contracts. 10k contracts is nothing in the financial world

Anonymous Mon Sep 10 07:12:08 2018 No.11020996

>>11020923
But chainlink are not in the financial world bub
Best you could hope for is that ETH destroys all competition and chainlink licks some boots to get in with Vitalik as the official oracle consultant for dapp's on ETH. Right now Sergey is just arguing with Vitalik and not accepting the situation.

ETH is not well suited to taking on all current financial institutions. It will only be used for small personal transactions, paying for services. Unironically Mobius is what you are thinking of because Stellar is the blockchain for those big contracts and transactions.

>>	Anonymous Mon Sep 10 07:15:12 2018 No.11021010 >>11020996 Yeah this has nothing to do with ether, thats just the link transaction mechanism. Swift/Accord/ANB etc will provide the contract volume

>>	Anonymous Mon Sep 10 07:23:31 2018 No.11021052 File: 1.23 MB, 1486x2244, 1534941477679.jpg [View same] [iqdb] [saucenao] [google] >>11021010 >Swift/Accord/ANB etc will provide the contract volume Nope. Stop believing those retarded partnership confirmed threads.

>>	Anonymous Mon Sep 10 07:29:13 2018 No.11021082 File: 8 KB, 218x218, pepe3.jpg [View same] [iqdb] [saucenao] [google] >>11020745 It is irrefutable >>11020923 >>11020818 Cope

Anonymous Mon Sep 10 07:35:31 2018 No.11021118

>>11020818
This plus I want to add that your earnings relative to the node (if you’re sharing your node with others) are based on the percent of LINK you own in the node relative to other people. So if at the beginning I own 20k of 50k LINK in a node and we all keep our LINK in the node then I’ll always earn 40% of what that node earns. So let’s say over a set amount of time I’d have 25k LINK and everyone else now has 37.5k since the entire node grew by 25%. However, since I’m still 40% of the node I’ll still receive 40% of the profits (even though they’re now greater). If I had withdrawn all my profits and the others had kept them there, I’d still have 20k and and they’d have 37.5k so I’d only earn 34.7% of what there node earns now since that’s the percentage of it I make up.

Basically node operators are incentivized to hold as much LINK as possible in their nodes to stake with which will be one of the biggest drivers of price increase out there. The cost of data is a market charged by nodes so the more high quality nodes are in the market the cheaper data is.

What I think will happen in the short term is that main net will come online and we’ll all begin to stake. Eventually the amount of money we’ll be making will bring in the normies to become node operators too, so they’ll be a great price increase as people buy up LINK to run nodes.

>>	Anonymous Mon Sep 10 07:37:18 2018 No.11021129 >>11021052 It's like the baneposting when the eurocuck pilot crashed the plane on a mountain. Memes are manifesting themselves in the real world

Anonymous Mon Sep 10 07:42:11 2018 No.11021164

>>11021118
Hope your right! The other way I see main net playing out is 100-1000 contracts first few months with 1-2k link locked up per contract. Best case scenario 2mil link locked up after 3-4 months. Big deal, but once a level of adoption occurs 1-2k link per contract will not be sustainable thus beginning the singularity. Screenshot this

>>	Anonymous Mon Sep 10 07:44:00 2018 No.11021178 link is a scam. the top 100 addresses control 99% of it.

>>	Anonymous Mon Sep 10 08:15:14 2018 No.11021373 >>11021129 He was one of us, i want to be a pilot too but im not retarded, im future millionaire with responsibility.

>>	Anonymous Mon Sep 10 08:16:33 2018 No.11021387 >>11021052 The absolute state of no linkers

>>	Anonymous Mon Sep 10 08:16:59 2018 No.11021390 >>11021178 don't you realize that these completely incorrect statements are huge buy signals?

Anonymous Mon Sep 10 08:18:04 2018 No.11021397
File: 1.35 MB, 1200x900, King Cold.png [View same] [iqdb] [saucenao] [google]

Listen I genuinely care about about Anons financial well being. Its hard as shit to get ahead in life now, not just working 9-5 for the rest of your life. The sooner you start saving the sooner you can get ahead in life.

Chainlink is a meme started by 4chan (an infamous trolling board) to lead people to financial ruin. This is NOT A JOKE. Don't let your saved wealth be thrown away over night. Hello! Think!

Vitalik Buterin the creator of ethereum said himself the days of making x100 or x1000 are over, that right the guy who created the second most popular crypto said himself those days are over.

Now 4chan is trying to get people to lose even more money after the December/January bloodbath. Smart money already exited the crypto world. Crypto is basically a highly specialized database, companies don't need this. They will just create their own private blockchains. There is no need for crypto chainlink isn't even needed to run the nodes. Think XRP when you think chainlink. The company ripple (smartcontracts) is doing well but the coin XRP(chainlink) isn't even needed for the companies technology.

Considering what Vitalik said "The days of making x100 or x1000 returns are over." Chainlink needs a 399900% increase in price over the next couple of months to reach $1000 this is ludicrous. Don't fall for it, chainlink its a meme to fuck you over.

Consider this for chainlink at current price to reach $1 you need an increase of 700% or a 233% increase every month until EOY.

This is a 4chan meme to siphon money out of the hands of the already vulnerable.

>>	Anonymous Mon Sep 10 08:20:31 2018 No.11021415 >>11021397 Good fud, haven't seen that one before. Not enough to get me to sell my links though. Too much obvious bs mixed with some decent material

>>	Anonymous Mon Sep 10 08:23:54 2018 No.11021441 >the bigger the contracts the bigger the collateral required when derivatives start using chainlink we will see a much higher valuation, most likely in the thousands per LINK

>>	Anonymous Mon Sep 10 08:30:40 2018 No.11021485 >>11021397 this but unironically

>>	Anonymous Mon Sep 10 08:53:12 2018 No.11021661 >>11020151 >feed NEET nodes bad data >collect their penalties Its almost like a system that can let anyone it wants to fail

>>	Anonymous Mon Sep 10 08:55:57 2018 No.11021687 >>11020101 just worry about buying more cheap link. Mainnet is not coming out anytime soon. i'm honestly just going to put my money in small pumps until then.

>>	Anonymous Mon Sep 10 08:56:57 2018 No.11021694 >>11021415 >delusional bagholder ChainLink is going to zero

Advanced search
Text to find
Subject [?]Search by post subject. Leave empty for any.
Username [?]Search for user name. Leave empty for any user name.
Tripcode [?]Search for tripcode. Leave empty for any.
Email [?]Search by email. Leave empty for any.
Filename [?]Search by image filename. Leave empty for any.
From Date [?]Enter what date to start searching from. Format is YYYY-MM-DD
To Date [?]Enter what date to start searching until. Format is YYYY-MM-DD
Image hash
Search in	All Posts OPs Only
Deleted posts	Show all posts Show only deleted posts Only show non-deleted posts
Internal posts	Show all posts Show only internal posts Show only archived posts
Order	New posts first Old posts first
Capcode	All Posts Only by Users Only by Mods Only by Admins Only by Developers
Results	Posts Threads
Action	[ Simple ]