/biz/ - Business & Finance

[Anonymous No.11959212]

Dear new Chainlink investors.

We have now seen new FUD regarding to privet vs public chains. Hear me out, this is good and healthy and it's actually bullish.

"I think people are exaggerating the importance of private chains. Personally I'll always think of them as isolated test environments to build PoC's that can easily be deployed on public chains, more than being ready for production. Being on a private chain makes it tricky to on board any new members, and you can't even interact with any of the public who would be customers. It then obviously is open to manipulation.

Like yes, you may set up your own node and not use the token, but it defies the entire point in the first place. If you was going to run a private chain and already have access to the data, then you could provide it without needing a private ChainLink node. The whole idea is always to provide trustless execution that never raises doubt to any output, and only the public Ethereum mainnet with use of the token can give you that.

Like Thomas mentioned, private chains will be able to use Chainlink on main net. Since it's all public, the private nodes are completely able to create a new service agreement, send tokens as payment to the nodes and then read that data and post it back to their own chain. This is very similar to how ChainLink would work with BTC for example, as it would read it via an adaptor."

[Anonymous No.11959230]

>>11959212
Red pilled and Based

[Anonymous No.11959300]

>>11959212
Only idiots could equate Amazon using chainlinks tech to actual FUD. Everyone you see on here saying link is a scam / shit / worthless are part of organised discord groups who's goal is to suppress the price. They all likely have larger stacks than you. Especially if you are a newfag.

As someone who bought in at ICO I have been here through all the shit, and the more and more obvious it becomes that link is becoming an industry standard, the more pathetic, desperate, and unfortunately wide spread the FUD becomes.

Because of the technicals involved, lots of people who have small amounts of link don't actually understand what they are invested in or specifically how it works. So throwing around FUD that doesn't actually make sense is common also - a lot of which you are seeing the last few days with the private chain FUD.

[Anonymous No.11960389]

"Think of it this way, who is going to be operating nodes on a permissioned chain?

It will likely be a somewhat inhouse job, so it would be for inhouse tasks.

Contracts that are actually valuable or require security between parties will be on the public ledger. The higher thr risk, the greater the security premium"

[Anonymous No.11960402]

>>11959300
Checked and
>C0MF
in the ID. It's rare to read the truth on this board, but nice to see some people aren't engaged in the pointless masturbatory fudfest.

[Anonymous No.11960407]

Using Chainlink privately is no different than a centralized oracle, which are already available everywhere. It’s pointless. Chainlink’s value comes from its public chain and its versatility in selecting whatever amount of oracles and data sources you want.

[Anonymous No.11960408]

>>11960389
serious question: are we going to see 28ct chainlink during the next 2 weeks? I think so and will buy then. sidenote: we need fiat/link like the koreans have

[Anonymous No.11960473]

>>11960408
>serious question: are we going to see 28ct chainlink

No doubt it. Dumping as we speak.

[Anonymous No.11960485]

I think chainlink could possibly see sub 20c if BTC keeps shitting the bed. Use this chance to accumulate more instead of fomoing in later when it's mooning

[Anonymous No.11960500]

>>11959300
>They all likely have larger stacks than you
Wrong, they are all swingtrading linklet poorfags desperate to get another few hundred linkies.

[Anonymous No.11960794]

>>11959212
you write the same way Sergey talks

[Anonymous No.11960840]

>>11959212
>It's actually bullish that private chains will utilize closed chainlink nodes that hold _0_ stake into the token economics

I hope Ethorse gets major adoption

[Anonymous No.11960873]

>>11960500

this. FUD comes almost exclusively from linklets and a handful of sociopathic dolphins/whalets. the shills are almost exclusively top 1000 master race who are node-pilled.

[Anonymous No.11960910]

>>11959300
>>11960500
Both checked. Both can be true. We have FUD coming from all levels of investors including people who have been burnt in the past. FUD is FUD and it is not important who is doing it, but more importantly WHY they are doing it?- Think why would someone waste time Fudding something so much. Link is obvious standard that is emerging - the exact same feeling that we all had when ETH started getting shilled on here. Good day sirs.

[Anonymous No.11960967]

What the fuck was Thomas thinking

[Anonymous No.11961019]

>>11960967

thomas did nothing wrong

[Anonymous No.11961113]

>>11959212
Lol fucking turd.

[Anonymous No.11961651]

>>11959212

This private chainthing is all upside. It’s not taking *anything* away from the public network, it’s just letting companies replace their own internal systems with Chainlink-compatible ones.

This fud is perfect: it will simultaneously fud brainlets and shill to people who have a clue. Schroedinger’s fud. Well done biz.

[Anonymous No.11962130]

>>11959212
11,000 swift nodes on a private blockchain seems pretty decentralised to me. Finance will all be private.
If I use a private chainlink node I don't pay for transaction fees and I also get decentralisation from 11000 other banks.

Chain link was never marketed as Sergey knew he'd get sued and called out by the sec. The link token won't be used and therefore has no utility so can't be a utility token.

[Anonymous No.11962181]

>>11962130
>11,000 swift nodes on a private blockchain seems pretty decentralised to me. Finance will all be private.

How do you explain then news like these?

https://www.openbanking.org.uk/providers/standards/
>>Version 3 of the Open Banking Read/Write API Standard significantly builds on previous versions, with key focus on PSD2

https://www.coinspeaker.com/2017/08/23/smartcontract-com-used-swift-announces-technical-leaders-advisors-launches-chainlink-connect-smart-contracts-off-chain-data-payments/

https://www.evry.com/en/news/articles/psd2-the-directive-that-will-change-banking-as-we-know-it/

The keyword is: Transparency

[Anonymous No.11962215]

>>11959300
>Everyone you see on here saying link is a scam / shit / worthless are part of organised discord groups who's goal is to suppress the price
Same thing with Confido btw.

[Anonymous No.11962255]

>>11962215

Imagine the paranoia

[Anonymous No.11962307]

>>11962181
>The keyword is: Transparency

Transparency is a problem.

https://www.ibm.com/blogs/blockchain/2017/05/the-difference-between-public-and-private-blockchain/

Hyperledger was built from the ground up to be permissioned.

There is going to be 2 ecosystems permissioned where there's a lot of traffic and no link usage and public where you're a small player and use link. The vast amount of traffic won't use link.

[Anonymous No.11962490]

>>11962307
>what is off-chain computation?
>what are secure enclaves?

[Anonymous No.11962502]

>>11962490
I don't think you understand the conversation anon

[Anonymous No.11962667]

>>11962307

But the whole point of Chainlink is that it doesn't even matter if every financial institution will have their own private blockchains, because chainlink will still be needed to connect that chain with real world data if they want the real world data

If not Chainlink, some other program that offers this function

[Anonymous No.11962930]

>>11962667
But private blockchains mean no fee decentralised chainlink. Free chainlink is better than paid chainlink.

Btw I want to be wrong. But I never am.

[Anonymous No.11963389]

>>11962930
Just one problem with what you said.

Paid chainlink /is/ better than free chainlink. Paid chainlink will ultimately keep fraud to a minimum at minimal expense vs no expense but maximum fraud. Fraud is more costly than small fees.

[Anonymous No.11963434]

>>11962930
Assuming the private blockchain still needs to pull data from the outside/public, what incentive is there to keep the data honest and reliable without paid LINK?

[Anonymous No.11963473]

>>11962930
>goes to make API call
>has to pay a fee
>BUD I AM ON A PRYVAT BLOKCHANE!

[Anonymous No.11963479]

>>11962930
I don't see 11,000 banks operating their own chainlink nodes for free when they could just pay a few cents to have someone else do it.

[Anonymous No.11963490]

>>11959212
Satoshi has returned and has something to say about LINK.

[Anonymous No.11964251]

>>11959300
checkem

delphi faggots- im never selling you my stinky linkies

$10K STINKY LINKY EOY

[Anonymous No.11965392]

so the fud is solved then

[Anonymous No.11965440]

uuh uuh aah aah oooh

[Anonymous No.11966130]

>>11959300
I’m in every discord imaginable and nobody is brainstorming FUD just to get facts straight. People just come up with this shit.

[Anonymous No.11966188]

>>11963473
Normies will accept this as the cost of business.

[Anonymous No.11966191]

Fuck off, Delphi.

[Anonymous No.11966206]

>>11960967
Literally said nothing wrong. You’re retarded.

[Anonymous No.11966253]

>>11961651
>Schroedinger’s fud
red based and node-pilled

[Anonymous No.11966282]

>>11962930
>Free chainlink is better than paid chainlink.
to use the network you have to pay a node keeper. no-one will work for free. can you actually be this studpid?

[Anonymous No.11966295]

>>11966130
well i use that as a loose term for all brainlets trying to willfully FUD their own investment so they can swingtrade, over the last few months link has been swung up and down again and again, and you can see the FUD / shill cycles like clockwork. Its disappointing for biz not to be filled with decent debate about the project like it was before. However i suppose we covered everything there was to cover.

What upsets me the most is we are starting to see real world use and adoption and everyone is doing their best to shoot it down, post racist memes on the official link reddit, and try as much as possible to derail people from the project.

at some point this may stop being funny and actually have a negative effect on the project.

[Anonymous No.11966342]

>>11959212
this is what seemed obvious to me but some nigga said im wrong so ha

[Anonymous No.11966372]

>>11966295
It's funny tho

[Anonymous No.11966395]

>>11966130
>I’m in every discord imaginable
>loner detected
Get off of that loser gamer shit anon, make some irl friends.

[Anonymous No.11966542]

>>11962307
Permissioned chains are only a bridge until public chains are ready. Even then, some of their transaction can be done on public sooner than later. Once TEEs and ZKPs are ready, permissioned chains die because off-chain computation will solve the scalability and confidentiality problems

[Anonymous No.11966584]

>>11962930
There is no free chainlink. They still have to run all the nodes, pay for all the api calls that are not internal, and get no security benefits.They will save way more money going to public blockchains, which they will eventually

[Anonymous No.11966589]

>>11963434
There isn't which is why it's not different that today

[Anonymous No.11966595]

>>11964251
Delphi doesn't even fud. It's the main discord that has a few emotional fudders on it

[Anonymous No.11966946]

Think about this way:
Would you rather use a public or a private toilet? Exactly, private is much better.