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l-lads???
>>17139483delete this
>>17139483wait, what the fuck? why don’t we all just make nodes then
>>17139483
>>17139499Because mainnet is still restricted.Anon nodes will only become possible once security measures and other features are in place (reputation, staking, TEE, mixicles, threshold signatures ...).
>>17139483Its really going to happen isnt it.. were all going to be millionaires. Thanks biz
>>17139483Delete you moron
>>17139483DUDE TRUST METoken not needed
>>17139524pleb tier understanding community nodes won't be used until service agreements are complete, go to the link github page for the service agreements model to understand why thats the case. Nothing else is a hard blocker, since reputation is currently being specd out and implemented by 3rd partiest. engineer
>>17139608actual engineer that is licensed and pays insurance or meme engineer that adopted the title?
Eth doesn't scale, unstable protocol, link not ready. Sure buddy, just go all in bsv retards.
>>17139608Right now, the only security measure in place is KYC, i.e. we know who the nodes are and if they return bad data, they are personally held accountable through conventional ways (i.e. not via smart contracts).Not only is the plan to hold these known players accountable via smart contracts (e.g. making them pay damages automatically by taking their staked collateral), but also to make sure there are systems in place to allow us to trust non-KYC nodes (e.g. reputation, TEE, ...).
>>17139683>Eth doesn't scaleIt doesn't really have to scale right now. Chainlink is still in its infancy.In fact, it doesn't really have to scale ever since Chainlink is blockchain agnostic.
>>17139608>>17139685>also to make sure there are systems in place to allow us to trust non-KYC nodes (e.g. reputation, TEE, ...).And obviously, this is only way "anon nodes" are going to be possible.
>>17139650I work for a FANG company as a software engineer>>17139685all of that is covered under Service agreements, read the encumbrance section: https://github.com/smartcontractkit/chainlink/wiki/Protocol-Information
>>17139718>all of that is covered under Service agreementsFunny how you fully agreed with me, while at the same time saying I had "pleb tier understanding".
>>17139718Not a PE and therefore not an engineer.
>>17139740he’s an engineer, of course he’s going to be needlessly autistic
I hope you guys make it and die of slow, painful cancer and that your family members and children die in car accidents.
>>17139740what i'm saying is that the completion of the service agreements model enables the fully functional marketplace for arbitrary nodes to participate as providers, everything else is extra, some things will probably come before SA are done (mixicles and TSigs namely) but there's no hard dependency.
>>17139762>what i'm saying is that the completion of the service agreements model enables the fully functional marketplace for arbitrary nodes to participate as providersAnd that's exactly what I was saying.
>>17139762i dream of all 3 arriving at once
>>17139762>>17139770>>17139771Fuck you. All of you. Please take a nap in pizza ovens. I want to seal the door and cook you alive.
that means nodes are getting overpaid because the link tokens they receive as reward are overvalued, doesn't it?
>>17139527You had two years
>>17139780Didn't buy enough LINK?
10$ this weekGlad I didn’t sell
>>17139483bullshit
>>17139792Nodes are getting a fixed amount of a little over 1 USD per request at the current price.Depending on the use case and the free market, that's probably not too far out of the ballpark.This is probably what the higher tier of nodes will look like, with lots of important job requests.
>>17139771not a chance in hell. Mixicles are (probably) in a private repo, completed and currently being audited. TSig tasks were started a few weeks ago and MOST of the SA tasks have not been started or updated in monthsit's frustrating when people ask "when staking" when there's so much visibility into the progress for staking, seriously just go to the pivotal tracker and search for tasks with the "service agreement" tag and walla! https://www.pivotaltracker.com/story/show/164219229If I had to guess, mixicles before end of Q1 (judging by the timing of the mixicles fireside chat on Feb 15 + Sergey saying they're almost ready in Sept https://decrypt.co/9037/chainlink-ceo-sergey-nazarov-mixicles-smart-contract-defi-privacy?amp=1)), tsigs by end of Q3, SA sometime after that. Would be nice if they brough out the mixicle progress out of chainlink/private tho
>>17139818>Would be nice if they brough out the mixicle progress out of chainlink/private thoA large part of mixicles is Deco, which is being developed by IC3.
>>17139811By my calculation 1.25 million in a year equals a little over 100 requests per day at the current Link price (and 1/3 of a Link per request).It adds up.
>>17139856How much will we be able to make staking 10k link?
>>17139856By my calculation 1.25 million in a year equals a little over 100 requests per hour at the current Link price (and 1/3 of a Link per request).There are 25 price feeds right now, and if a node operator is active in all of them, that's 4 data returns per price feed per hour.It's very feasible.There's no limit to how many nodes/feeds one operator can run.
>>17139870Too many variables to say. Having lots of LINK in a node means it can process higher value contracts. We don't know what the meta is going to look like, though.
>>17139718You're a code monkey trying to act important dude
>>17139870$20 a minute
>>17139870It depends on the types of jobs you get, impossible to know at this point.The calculation in OP gives us an idea of the possibilities. Which are pretty much beyond comprehension right now.
>>17139811see >>17139877need coffee
>>17139885this desu
>>17139483But no real businesses are actually using it, this is just Sergey subsidizing it lolPic related is what real network effects looks like
>>17139971>But no real businesses are actually using itThe current feeds are hand-picked at the request of confirmed Chainlink partners like Aave, Synthetix, ...Mainnet is still restricted.Try to actually keep up.
>>17139483imagine believing some random retard on twitter
>>17139971also>BSVThe most popular BSV dapp is a centralized weather oracle.lmao>>17140171See >>17139877The math checks out easily.
>>17140189No, the most popular BSV app by far is Twetch; more transactions != most popular, far more people use Twetch. Also, Twetch is awesome, never going back to Twitter.
>>17140163None of that is real though, it's all just poc>>17140189>The most popular BSV dapp is a centralized weather oracle.Nice outdated FUD, have fun getting left behind
>>17140214Ok, then let me rephrase: one of the dapps with the highest amount of transactions on BSV is a centralized weather oracle.
>>17140247>None of that is realwat?The price feeds are very real.And zero missed data feeds ever.>Nice outdated FUDSee >>17140250
>>17139483>XRP will be worth $10,000 a coin
>>17140214They don't understand any of this and will get left behind
>>17140250Yes, WeatherSV is awesome; you should check out the Chinese air quality app too, great stuff.
>>17140247what u idiots dont understand is that its not DIFFICULT to have "6.7 TPS per second", it's just not viable to have ever growing block sizes.changing a few numbers can be done in BTC too, to allow a lot higher TPS.but bigger blocks = more centralized (need more space to run a full node). bigger blocks = less reliable transacitons (orphaned block because bigger block latency)
>>17140250If the market it wants it then let it exist. It’s not free to spam weather data 24/7. What are you, some kind of communist?
>>17140267>Yes, WeatherSV is awesomeOracles are awesome yes.Decentralized ones even more so.>>17140266>BSV mining = oraclesfucking lmaoooooooooooooo
>>17140277>If the market it wants it then let it existNeed staking, reputation, TEE, ... first.
>>17140277You missed the point entirely btw.
>>17140289The data is ultimately hosted on a distributed ledger, your argument that it is “centralized” is room temperature
>>17140313>The data is ultimately hosted on a distributed ledgerMeaningless if the entry point is centralized.All you're doing is securely recording possibly tainted data.
>>17140277>If the market it wants it then let it exist.ah yes, that's why the dev was begging for donations because it was unprofitable.
>>17140275>it's just not viable to have ever growing block sizes.No, it's totally viable>but bigger blocks = more centralizedNah, there will be thousands of mining operations globally at scale, each one potentially catered to different use cases or large scale apps. That's how it was always meant to work >bigger blocks = less reliable transacitons (orphaned block because bigger block latency)That's how Bitcoin works, it's literally in the whitepaper
>>17140337Stop discussing block size shit.
>>17139483This is bullshit. If you're assigned every job from CL you will make a little under $200k/year, and they're the only ones paying well. The BTC/ETH USD feeds pay the most at around $4k each per month.t. actual node op assigned the top BTC/ETH jobs, don't care if you believe me, listen to that Twitter fag if you prefer, kek
>>17140324This is coming from a chain link guy? Strong cognitive dissonance here. >>17140333It wasn’t designed to create profit, it was designed to record weather data immutably. It’s self funded by the community. >*whaaaa* “its a stupid project!!!”Then compete and do it better, it’s that easy
>>17140369See >>17139877
>>17140370>This is coming from a chain link guy? Strong cognitive dissonance here.What the fuck are you talking about?Chainlink is a decentralized entry point.
>>17139818cheers jonny!
>>17140370>It wasn’t designed to create profit, it was designed to record weather data immutably. It’s self funded by the community.if it wasn't designed to create profit and the dev has to literally BEG for donations, then the market doesn't want it to exist.
>>17140277>if the free market wants it, then let it exist>>17140370>it wasn't designed to create a profitGood brain anon.
>>17140382Maybe the issue is that it’s still in its infancy, there’s too many layers to getting involved in the system currently. Can I invest capital and compete today by running a node? >>17140405>>17140414Jimmy Wales would like to have a conversation with the both you
>>17139483DELETE THIS RIGHT FUCKING NOW FUUCK
>>17140374I'm not saying it's not feasible, it's just not the case yet like this Twitter pleb is claiming.The top contracts run 6x per hour and pay 0.33 LINK, for example, like the ones i mentioned. That's a decent stream of revenue, sure. That's why i run nodes. You're not paid 'per node' by the way, it's per oracle contract and you only have one.Most jobs either run infrequently, are triggered by certain vector/% changes in whatever they're monitoring, etc. Many jobs pay less per run. Some even have contract address completely bled dry and so aren't even running consistently, thus are paying basically zero. You can verify all of this by tracking jobs and corresponding addresses through Etherscan.Your numbers are fine, but it's far from the case right now.FYI - The team also isn't going to open up these jobs to your average solo node runner any day soon, zero plans for that in fact. So stop dreaming and spending your NEETbux on Fiews/Infura fees. Only Chad businessmen allowed.
>>17140469>Maybe the issue is that it’s still in its infancyThat's not an "issue", it's a matter of time and development.This is why we're extremely early still.Even people like ADA's Hoskinson have no idea Chainlink is doing what it's doing. He was completely oblivious about CL's connection with TownCrier and Deco.
>>17139525Yes. It will. I am not larping - this is a bigger return investment than bitcoin and ethereum and it isn't even out of the awareness stage in the cycle. You are others are early attendees to the show - sit down and relax and hold on.
>>17140517>I'm not saying it's not feasible, it's just not the case yet like this Twitter pleb is claiming.I'm not going to do the math for each node operator, but the very top end of his income range is 1.25 million USD / year, which amounts to a little over 100 requests filled per hour.It's extremely likely some of them are reaching that.>FYI - The team also isn't going to open up these jobs to your average solo node runner any day soon, zero plans for that in fact.Zero plans he says, except for the white paper, amiright?Just buy back in, swingie.
>>17139818Lmao imagine taking well over a year to code some staking.
>>17139810>10 in digits>10 in price prediction >realistic price predictionwitnessed
>>17140524Yeah I understand it’s early to get into chainlink but my concern is chainlink is late to the market itself
>>17139499because of the oracle problem which chainlink doesnt even solve.
>>17140593>my concern is chainlink is late to the market itselfThere's nothing like Chainlink, and the market desperately needs something like Chainlink.
>>17139718You could have just said “not an engineer”
>>1713948399% of freeloading neets don't deserve this, they've only just found LINK, please delete OP
That's the stupidest shit I've ever heard. Not only does the math not add up but if it did you should be terrified instead of excited. But this moron chainlink God, who's supposed to be an official community advocate with a modicum of common sense and responsibility, just brags about it like he's so proud of his low iq. 1 fucking million per year to json parse one API every ten minutes and feed it to less than 30 different contracts, all paid for by the Chainlink team wallet itself. They have no paying customers, just 4 shitty startups accepting to integrate because it's free. Do you realize how utterly retarded and unsustainable this is from a financial perspective? And this fucking moron acts like this is something holders should salivate about because of the staking meme. Jesus Christ. I'm sure proper maths is actually less than 100k and it would still be insanely retarded. No customer is ever gonna pay for such over priced Jason Parsers.
>>17140550If the world needed or wanted decentralized oracles, people would be actually using chainlink by now, after 3 years
>>17140687goes for crypto "currency" toobitcoin is 10 years of failure
>>17140687People are using Chainlink right now.
>>17140550Not all jobs pay the same, regardless of how many you're running. There's no flat fee of 0.33~. Average runs per hour across all jobs is currently ~40 by the way, including those contracts that are currently left unfunded. Again, you could check all this yourself.Running all jobs at the current LINK price nets you a touch over $20k/month, a bit more than last i checked due to the price pumping. Still nice, but not even close to a mil.I've never bought any LINK and never will. I'm earning it constantly, why would i buy more? All i sell usually is what covers the tx fees for my oracle, so i guess since I'm holding, I'm technically a stinky. Keep buying and pumping the price for me though, then i earn more per month.The WP might say you have a shot as a node runner, i don't know, I've never read it. I just know what my boy Johann told me. Keep hanging on to that hope though if you prefer. :^)
>>17140694If I went back two years ago and told /biz/ about the usage today they would not be too happy considering how it was supposed to replace SWIFT by now
>>17140684I agree with you anon, but the fact is they've assigned 1/3 of the ICO stack to bootstrapping this until they have enough clients that it becomes self sustaining. They said they're hoping to be at that point by EoY, but i doubt it. Doesn't matter to me though, they've such a fat stack that nodes will continue to get paid for a long time by CL if need be.
>>17140517>FYI - The team also isn't going to open up these jobs to your average solo node runner any day soon, zero plans for that in fact. So stop dreaming and spending your NEETbux on Fiews/Infura fees. Only Chad businessmen allowed.Got this impression when I started looking into what it took to get your node on mainnet after getting my node up. Still burning cash on Fiews fees.
>>17140695>There's no flat fee of 0.33~. Average runs per hour across all jobs is currently ~40 by the wayAll it takes to reach the very top end of Twitterfag's income range is a little over 100 data returns at .33 Link.Everything you're saying supports this distinct possibility.
nodes are subsidized by teamcurrently an api get current earns 0.333333333333333333 link or $1.11realistically it should be closer to $.11this twitter conman is spinning lies as usual
>>17140717>If I went back two years ago and told /biz/about the price?>Link was supposed to replace SWIFT by nowlmao you retard
>>17140719Do you know anything about what the 4 startups are paying?
>>17140734>currently an api get current earns 0.333333333333333333 link or $1.11>realistically it should be closer to $.11Only the top demand jobs are $1.11Most are less.
>>17140593newfag plebbitor
Just look at all the transfers of 0.3333333333https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca
>>17139608>reputation is currently being specd out and implemented by 3rd partiesNot to my knowledge.
Address with 46,000 link getting 0.333333>>17140763
>>17140517 here, switched from mobile posting.>>17140720It's hilarious that those other anons are seething, when i'm basically trying to save them money until if/when that shit even is possible for them to get in on.>>17140725Like i said before, it's possible in the future, but they'll need way more feeds that pay that 0.33 rate. Do you realise there's only 12 runs per hours paying that rate right now (via BTC/ETH USD feeds)? All the other jobs pay peanuts in comparison due to lower rates and/or lower runs/hour.They need paid client adoption before we'll see that too. They're already paying $250k+/month in oracle fees to nodes, before considering their own gas fees. If they just 10x the 0.33 jobs, they'll be paying a few mil per month, and then those 'bootstrapping' funds will be dried up much faster.I know you want hopium, but i'm just trying to be realistic with you.>>17140737No idea, sorry.
(Chainlink : aggregator)https://etherscan.io/token/0x514910771af9ca656af840dff83e8264ecf986ca?a=0x79febf6b9f76853edbcbc913e6aae8232cfb9de9
>>17140748Nah just a crypto boomer who doesn’t believe that chainlink is going to be successful
>>17140593>my concern is chainlink is late to the market itselfIn what way? The entire crypto market is a decade old, even younger if you (rightfully, imo) perceive a market consisting of bitcoin and nothing else as "not a market.
>>17139718Thefuck is this? Im an economist not a nerd. Translation please
>>17140797It seems the twitterfag in op misread cryptosponge's chart.It's actually 1040 Link earned by the top operators per week, not per day.>>17140684>No customer is ever gonna pay for such over priced Jason Parsers.Imagine writing all that shit just to obfuscate the fact that your entire fud revolves around "it's just a json parser hurrr".
>transmit the price to an ethereum to some feed>you get paid over a dollar by this and it's automatedWho the fuck pays that much?
>>17141053"I don't know what smart contracts are" the post.
>>17140163The only customers are a scammy Aussie bucketshop exchange, and a lending platform with next to no volume. Yeah, I’ve kept up.
>>17141125Nice headcanon, you're so creative omgosh.Also, work on your reading comprehension.My comment was about why the current users are all there is.
>>17139525That looks painful
>>17141143voor jou
>>17141125>not understanding Australians are at jew levels of over-representation in tech fields.
>>17140797So there is agreement that the prospects for the project are rather negative, as there are no paying customers except the group that is part of the bootstrap?Do you see a potential in the project to become self-sustaining within the next three years or will it fail?
>>17140797I think the current focus on Crypto Startups, which is a subset of the potential customers for Chainlink, is just a POC for Chainlink, testing the security and tokeneconomics and showing that the Chainlink network can scale.The big fish will be in paying customers of the Chainlink network within the next few years, after the network has been officially put through its paces by small fish.
Chainlink not a meme confirmed
>>17140735>about the price?No, the actual usage and adoption, of which there is very little>lmao you retardMaybe you haven't been here as long as I have, but that was literally what people were expecting in 2018
>>17139483So what you're saying is each linkie will soon be worth $480k-$1.25M?But I own 50 stinkies.>50 * 480000 = richhahahahaha
>>17141268the more i start to look into the node stuff the more im getting an understanding how much work is left for link to work. we are probably a couple years off and if thats the case im not going to hold like a retard like i did from 4$.
That's bearish as fuck... how many nodes are there, like 20? That means chainlink is losing like 20 million dollars, dumping LINK to pay for this. Meanwhile the reference data has no adoption or at least no relevant, the aave and synthetix things mostly don't rely on LINK and are maybe worth 100000$ at most per year. This is the biggest money burning I have ever seen and kind of feared that an organization with no customers, no liabilities and basically no reward mechanism but endless amounts of cash would overspend. Imagine how lenient Sergey is with spending on flights, rent, wages, other costs. Why would they try to be efficient or fair? They'll burn through the cash in another 2 years probably, if by then the network isn't completely autonomous it's over.
>>17141375the point of alts is to always be a work in progress, because the day that they're "done" and there is no adoption, means they can't lure in other people to speculate
buy linkpool, they're the main node runner already? already getting (some) link just by holding LP
>>17141268CL are the "bootstrap", in full, for now.It's possible it'll work out but imo they'll be footing most of the costs beyond 2020. CL team is optimistic, but I'm not so much, but that's not my job as part of this operation.
>>17140529This image kills the bsv shills
>>17141410nobody wants to buy your over inflated bullshit.>>17141404link is not an alt though. I belive in the project but the i could be using the money to generate income instead of waiting for it to pump three years from now
>>17141419Just call it what it is, a subsidy
>>17141432>link is not an alt though.
>>17141327>No, the actual usage and adoption, of which there is very littleHalf of crypto is adopting Chainlink lmao.>that was literally what people were expecting in 2018Whoa, """people""" were expecting THAT???
>>17141268You don't understand.Chainlink is the way it is right now because that's how the team want it to be.If they wanted they could've rushed out things like staking, reputation, TEE, ... and opened up CL to the masses already, but they're taking things gradually like they've always done.
>>17141397>if the project isn't going to succeed that will be badWe got a real thingker over here.
>>17139718Daily reminder that software engineers are not real engineers.
In other words it means that you will be throwing tons of money to some useless API confirmationImagine being this retarded and think that this is what companies wants to
>>17140369how do you get the cl jobs?
>>17141518Thanks for clarifying. Do you see any possibility of achieving a 1000% return in the next three years?
It’s funny how people continue to fud chainlink
>>17141518Do you also know why Chainlink has received little interest from big crypto VCs like placeholder, a16z? they know their shit, but I haven't seen any interest in Link officially from them.
>>17140593That's like saying Google or Facebook were late to the internet. The market hasn't even started. A decentralized oracle market has never existed before.
>>17140684>Do you realize how utterly retarded and unsustainable this is from a financial perspective?this is just inflation like in DPoS, except paid by a centralized actor.It's obviously bad for holders, as they're the ones ultimately paying for it. Apparently nodes don't need link at all to get inflation fees.I looked for it and apparently there's no process to get added to the inflation fees.https://docs.chain.link/docs/becoming-a-chainlink-reviewed-nodeDo all "reviewed" nodes get requests generated by chainlink? Probably not, this only looks as a necessary condition, not sufficient one.Looking at thishttps://medium.com/@prophet.one/prophet-chainlink-connecting-smart-contracts-with-real-world-data-c73f658a40fdthey just pay someone for their nodes, so it's not even decentralized on an architectural level.All in all, the only ones getting shafted here are link buyers and holders.
>>17140214>appnot turing complete, external API dependent lmao
>>17141679>inflationwhat?
>>17141601Unless they majorly fumble like never before, I see another 10x as virtually guaranteed. The team has never disappointed. It's a matter of time.
>>17141702this is paid by link outside of the 'circulating' supply (as defined by cmc). Effectively, it's inflation. It's literally like the ripple scheme - they slowly release the total supply into the circulating.
>>17141714>as defined by cmcAll Link ever was always simply in wallets.
>>17141731well, this is the same story with ripple. Although ripple at least timelocked their xrp.Reading >>17140517>The team also isn't going to open up these jobs to your average solo node runner any day soon, zero plans for that in factI think they just arbitrarily pick some nodes to get free money. Most likely their friends or people they want to have good relations with."I just know what my boy Johann told me". Does that mean it's his friend and he got hooked with free link for essentially worthless tx spam? That seems to be the case.
>>17141755>same story>timelocked Pick one.>worthless tx spam?Haha ok settle down there chief. No need to get salty.
>>17141771>Haha ok settle down there chief.You know literally nothing uses these reference feeds? Yet they run for months.
>>17139718Software Engineer isn't engineering.
>>17141783>literally nothing uses these reference feedsUpdate your fud, little fella.
>>17141803Except that's true. Synthetix only plans to use it in the future, it's not used currently. There's zero actual use, yet reference feeds are getting constant updates. That's where that node income comes from.
>>17141812>Synthetix only plans to use it in the futureExcept Synthetix has been using Chainlink for months.And they're not alone.The fuck kind of hole did you crawl out of.Plus, even when Chainlink was in fact putting out the ETH/USD feed without an end user, that in itself had value as it proved things like the inherent reliability of decentralized oracles.
>>17140266I hate that santi commie faggot
>>17141894>Except Synthetix has been using Chainlink for months.Wronghttps://etherscan.io/address/0xE95Ef4e7a04d2fB05cb625c62CA58da10112c605This is synthetix's exchange rate contract. It's updated from the team's address.
>>17141894>that in itself had value as it proved things like the inherent reliability of decentralized oracles.we just learned in this thread that chainlink manually picks out few oracles to receive the dough and there's no way to get on to that list.What's decentralized about it?For all you know all nodes are run by three different people.
>>17141953bruhhttps://blog.synthetix.io/chainlink-decentralizes-first-wave-of-synthetix-price-feeds/And again, they're not alone.
>>17141974>What's decentralized about it?The fact that mulitple independent nodes are providing data to be collated.>For all you know all nodes are run by three different people.Except we literally know the names of the operators.
be honest faggots how many of you will actually be running a node?im sure most of you just waiting for your sell orders to get filled
>>17141974Actually it’s quite easy to see who is running most nodes. Your main problem is you’re in here arguing with zero facts to back you up, and you’re arguing with a bunch of fanatic autistic weebs who do nothing but research and dig up facts all day. Guaranteed to look retarded when you do this. Go back.
>>17142006I will probably run my node when I see it's starting to be profitable, right now the risk / reward ratio is pretty low or even negative
>>17141983Ok, who's paying for the feeds? It's certainly not traders on SX. Both teams have been really quiet about how the arrangement is financed
>>17141974you dumb fucking nigger allowing any faggot to run a node will introduce bad actors and ruin the show for the big boys. To counter this in the early stages of the network only kycd nodes are allowed to prevent any type of malicious behavior. After a small base of trusted oracles are established and service agreements are complete anyone will be able to join.
chainlink isn't fractional. that will fuck up everything
>>17142020My post proved something completely different from what you're bringing up, let it linger before you muddy the waters.
>>17142025lmao18 decimals buckaroonie.
>>17142025Do you think Chainlinks are little white cubes?
>>17141983>https://blog.synthetix.io/chainlink-decentralizes-first-wave-of-synthetix-price-feeds/Those feeds aren't paid for by inflation. You know you are wrong and are intentionally posting misleading data. The biggest feeds paid by chinalink are ethusd and btcusd and literally nothing uses them.>>17141995>Except we literally know the names of the operators.No you don't, you have to trust chainlink these names are real.
>>17142045then how come my orders are always whole numbers?
>>17142062Audibly kek’d
>mfw only 1k linkI should have bought more when I had the chanc
>>17140214Fitting that the faggot who copied bitcoin and tried to pass it off as his own idea would copy the name Twitch but make it Twetch and it’s just a fork of twitter kek
>>17142077>Those feeds aren't paid for by inflation. You know you are wrong and are intentionally posting misleading data. That has NOTHING to do with the fact that Synthetix is in fact using Chainlink.Contrary to what you said.>No you don't, you have to trust chainlink these names are real.Or you can ask them lelThey all have actual people out there interacting with people.
>>17142020>who's paying for the feeds? It's certainly not traders on SXSays you.SX users pay fees.
>>17142062go buy 1.5 link on binance,. oh wait, you can't
>>17142142Except I wrote about>You know literally nothing uses these reference feeds?not "chainlink" faggotand "these" mean feeds paid by chainlink, which are easily >99% of all usageI wouldn't be surprised if chainlink was even paying for those fiat pairs but their updates are extremely rare anyway>Or you can ask them lelThat doesn't mean "they" actually operate these nodes. For all I know Sergey paid some random actor to pretend he's running a node.I think they are separate people (but friends of people in chainlink) as it's just less hassle that way, but there's no way to prove that's already true. It all relies on trust in chainlink. That makes it centralized.
why does chainlink assume there will be multiple data feeds of the exact same data sets for verification? Don't they realize that most data sets will be coming from only one company or person? I mean unless they assume everyone will be only creating contracts based around easily verifiable and widely known information like weather data, stock prices, or other obvious shit.
>>17142164I can if someone agrees to sell me that much. People aren't fractioning it yet, doesn't mean it's not fractionable
>>17142190>Except I wrote about>>You know literally nothing uses these reference feeds?You said Synthetix is only planning to use the reference feeds.In reality they've been actually using the reference feeds for months now.>That doesn't mean "they" actually operate these nodes. For all I know Sergey paid some random actor to pretend he's running a node.k?>but there's no way to prove that's already trueSo go investigate it.All concerned are publicly known.
>>17142204>why does chainlink assume there will be multiple data feeds of the exact same data sets for verification?Decentralization can also be multiple nodes for one single data feed.It's just better to have multiple independent sources as well.
>>17142238But how does it verify the integrity of the data when only one person or business has access to that data set?
>>17142164that's binance you idiot. you can buy any fractional amount on other exchanges.
>>17142238I mean, it makes for already widely known data like stocks. I can't modify the data for apple stock to make it say $500 a share when the other data feeds say $320. But that is irrelevant if you're pulling data from apple about users, which only they have access to. furthermore, there is nothing from stopping apple to say they have 1 billion people using their music service when it's actually 900 million. No one will be able to verify it, regardless of how many nodes you have.
>>17142267Chainlink isn't necessarily about verifying the integrity of the source, it's about the trustless communication of data onto the blockchain.However, much like motorized cars caused roads to vastly improve, so too will the data source landscape adapt to a radical new use of data.
>>17142229>You said Synthetix is only planning to use the reference feeds.Which is true>In reality they've been actually using the reference feeds for months now.No, I provided the address of their exchange rate contract for most used crypto pairs. It doesn't use chainlink.>All concerned are publicly known.You realize that means literally nothing? It's easy to pay people to pretend.It's clear that nodes are actually independent only once (1) the number of nodes gets bigger (at least several hundreds) and much more importantly (2) anyone can join via some objective process, as that would make it infeasible for one entity to control the network.Chainlink fails both criteria. There are 20 handpicked nodes. It's 100% centralized. Even EOS is much better, as there inclusion criteria is token voting, and ico was at least open.
>>17142286from which exchange? I only know of binance which is reputable
>>17142295see >>17142304
>>17142304So it's a glorified data puller. They already say that oracles exist that can pull data from APIs. Chainlink seems to be a redundant middleman.
>>17142309You:>Synthetix only plans to use Chainlink's reference feeds in the futureSynthetix nearly three months ago: >we have now implemented Chainlink's reference feedsYou've been BTFO.No amount of salty tears will change that.
>>17142309lmao exactly. If the data is worth so much in terms of transactions, it would make more sense for the chainlink team to simply keep all the link and act as the sole operator of nodes kinda like credit card companies. I mean, if they were caught tampering, then their reputation would be fucked and no one would use them.
>>17142024The utter state. What a disaster of a project
>>17142350>>17142373>So it's a glorified data pullerIt's a decentralized way to enter data onto the blockchain.It's not a solution for decentralizing data sources. (although that is a likely consequence as well)
>>17142386fair enough, but again, the decentralized approach only works when there are multiple data feeds of known data sets. decentralization doesn't work for private information.
>>17142383ETH:>Chainlink is our "oracle authority" anon over here:>Chainlink is a disasterTime for give deep think, sirs.
>>17142386>It's a decentralized way to enter data onto the blockchainUnless you have miners it's all just Sybil's
>>17142399You seem really desperate to convince people that Chainlink is a good investment
>>17142397>the decentralized approach only works when there are multiple data feeds of known data sets.Even with a single data source, a decentralized bridge to the blockchain is still vastly better than a centralized one.But having multiple sources does help, yes.Just know that sometimes very valuable data will by definition only come from one source due to copyrights etc.In that case, you still don't want the data to become tainted between the source and the blockchain.
>>17142422i.e encryption
>>17140382damn no one has a clue on whats happening. so glad i sold this garbage at $4.
>>17142413I'm just quoting ETH over here buddy.>>17142402Miners can still get 51% attacked all the same.
>>17142434lmao
>>17142437it's clear pajeets are being paid by sergey to pump this shit. no one here can write any technical explanation of how chainlink works.
>>17142446if you want to send information securely to someone, you can already use established methods like a vpn or https.
>>17141628Can confirm that one of those VCs doesn't know anything about chainlink.
>>17142479That's hilarious.
>>17141628Do your research, properly
>>17142438>Miners can still get 51% attacked all the same.You do know what a 51% attack is right?It's when a miner attempts to double spend their own coins to rip off an exchange. That's it. Anything involving "changing the blockchain" or "stealing money" is irrelevant because no other miners will actually build on the chain. At that point it wouldn't be a 51% attack but a hard fork.
>>17142493>You do know what a 51% attack is right?Yes, one party making up 51% of the miners' deciding power.
>>17142486Care to explain? Established encryption methods prevent anyone from tampering with the data between parties
>>17142529>Care to explain?Absolutely not.
>>17142503Nope, try again! Here's a hint: dishonest miners always lose
>>17142503If the link token is neither mined and does not require POS, then how is the itself token secure and prevent double spending?
>>17142546>NopeExcept yep.
>>17142537Uh oh, seems like you don't know what you've bought
>>17142159The absolute fucking state. Clearly you've never used synthetix exchange. We only pay gas fees for ETH which are capped to prevent front running. The end user DOES NOT pay anything to Chainlink nodes. It comes out of links bootstrapping stack, but not directly. It could be that the Synthetix Foundation made a cash payment to the LINK team, but both have been quiet about it. Stop spreading lies or back your shit up with onchain transaction-- protip: you can't.
>>17142556You should really try reading the Bitcoin whitepaper sometime, it covers all this in section 6
>>17141518They are clearly focused on creating a large network that is eventually self sustaining by susbsidizing nodes which in turn subsidizes Dapps while they grow. This allows massive onboarding on clients to use the network, hence all the announced integrations. This is necessary and very smart. Also, its building trust in the process to then go to onboard enterprises that have seen it work securely without hiccups over time.
>>17140597this, so much this
>>17139608This anon fucks. They've been working on service agreements since last year, should be done Q2 at the latest I would thinkt. semi insider
>>1714259551% attack refers to an attack on a blockchain – usually bitcoin's, for which such an attack is still hypothetical – by a group of miners controlling more than 50% of the network's mining hashrate, or computing power. https://www.investopedia.com/terms/1/51-attack.asp
>>17142594>The end user DOES NOT pay anything to Chainlink nodeslmao I never said that.I said SX users pay fees.God damn you're toasty.
>>17142654Yeah I'm telling you that the SX user only pays ETH gas fees. I can make a trade on SX from a CL supported pair for the minimum gas required to use the ETH network with no additional fee. You're talking completely out of your ass. Eth is a fucking blockchain... why don't you use it to prove your case? Show me any synth trade that sends money to a chainlink feed. YOu can't because they don't exist, people already think SX fees are too high and paying node costs would break the back of the exchange.
>>17142685>Yeah I'm telling you that the SX user only pays ETH gas feesSX users pay 0.3% in fees per trade.https://www.finder.com/synthetix
>>17142702yeah that goes directly to the fee pool for minters, not chainlink nodes try again
>>17142712The exchange has a take, obviously. They're not running the operation out of the kindness of their hears you know.
>>17141481>btc maxilist spottedits dog shit and you know it?
Let's see the chainstink team dump $50mil and then still keep those "jobs" posted on their website. They're fucking remote jobs too, how fucking hard is it to find someone?
>>17142781Blockchain developers are rare and expensive. Some people, like yourself, fail to see the bigger picture and were destined to be poor from conception.
>>17142747My point is that the .3% (I think it's .5% now) fee goes directly to the minter's fee pool. You cannot prove it onchain, because it doesn't exist. SX users do not pay chainlink nodes. I can't prove a negative. IF this is happening, you ought to be able to show it onchain, but clearly you're a dunning kruger brainlet that wants it to be true because someone shilled you LINK, but in reality you have no clue how any of this works.
>>17142819>You cannot prove it onchain, because it doesn't existWe're talking about an exchange.You use exchanges to hide transactions.Whatever Synthetix' take is, they could very well be paying for the node usage. In whatever way imaginable.
>>17139749>>17139884>>17141534>>17141796
bumpy
>>17142024This is true, reminds me of that legendary post that people suspect wasn’t a Chainlink team member. About how in a vacuum you couldn’t do reputation, but by using companies’ existing reputation we could bootstrap a network into existence... anyone got the link?
>>17142816clearly you haven't taken a look. there's one job out of thirteen they have listed that might require blockchain experience
>>17142853every synthetix trade ever is on ethereum you fucking brainlet... if it was a centralized exchange why would they need Chainlink in the first place jesus fucking christ... you hold chainlink but don't even understand the basics of smart contracts.
>>17141563Invite only.>>17141755Not friends, but you need to be known in the space for providing infrastructure to blockchain projects like LINK, as a minimum.There also needs to be spaces to fill per job. They have a minimum amount of nodes they aim for, then typically add 50% to that. Such as 14 min for the top USD jobs, but capped at 21 nodes as we see right now on the top jobs.I know there's others in our line of business who are in the process of being added to certain LINK jobs this month, because i've seen them appear in node chats. This leads me to believe they might be increasing the '21' cap, but since i'm already in those 21, i'm not sure and i don't care since my take will remain the same.Meanwhile, anons are told to go sign up with third parties for jobs. As i said, without an invite, don't even bother.
>>17141327You haven't been here 2 weeks and it's obvious.
>>17142925I'm not talking about trades you angry bucketcunt.I'm talking about Synthetix' take.
>>17142940well congrats on managing to get on the scam train I guess
>>17142610This. You have to build it for people to use it. Of course there has to be a period when the team subsidizes it a bit. Think of how long most startups burn cash before they turn a profit. What matters is adoption and we’re seeing that at a pretty impressive rate.
>>17142925Or were you implying you can't use dexes to hide trails?l m a o
>>17139483How to get node
>>17142972There is no 'synthetix takte'. All exchange fees go to minters. This is all onchain. That is literally the point of synthetix. You literally said 'people use exchanges to hide transactions'. Synthetix is entirely done via smartcontract, which is why they need link in the first place. You're blatantly wrong.
>>17143079>There is no 'synthetix take'Oh but there is.
>>17143079>You literally said 'people use exchanges to hide transactions'. Synthetix is entirely done via smartcontractImagine thinking this is contradictory.
>>171430541st need gf
>>17139760Israel has no right to exist.
Fact: Chainlink is the most bullish chart in crypto both short AND long term. 1k eoy meme isn't a meme. We will ALL become millionaires during the golden bull run if we hold at least 1k link.
>>17143128You can literally see every trade ever made on SX. KYS you top buying retard. You've got no proof of anything you say and have been BTFO 5x over.
Until there is a working product, it's all speculation. Imagine you're standing on a boat. A small boat. On the ocean. Now put 30 cats on that boat. Those cats represent your fellow traders/ "investors"/ speculators. Now introduce some kind of volitility. Could be a wave, could be a distant helicopter, could be a lightning storm, could be the gentle lapping of the waves against the boat or the cracking open of an ice cold beer. How do the cats react? Is there any rhyme or reason to the apparent chaos they're feeling? Is there any genuinely reliable information we can learn from our fellow traders, the cats, apart from apparent serenity one minute and mindless panic the next? Of course not.Crypto trading makes as much sense as those cats' reactions do on that little boat.
>>17143636Shit pasta
>>17143627Once again, I'm not talking about trades.
Link OG herethese are the threads i have been missing from biz44k linker low IQ guy herei just go by feels. link feels good. i will add more to my position.
>>17139483Good God....
>>17143654Don’t forget pnk solves the oracle problem completely along with link
>>17142940You must be a big shot in the space then. Do you speak to Sergey and then team in the reg?
>>17143712Why spend so much time with this meaningless conjecture? Our eyes are on Ari Juels, Fan Zhang, SWIFT, Deriviatives... You must be new. Maybe you really don't know? Link is parabolic on the monthly, the only project that wouldn't have left you in the dust holding through 2018. Get a grip man, you're gonna lose it.
>>17143654The gift of prophecy and the gift of knowledge are mutually exclusive. Congrats on receiving the former.
>>17142630And what do you think an "attack" in this case is exactly?
>If this shitcoin could do things that it can't do, then it would give you [a random number] every yearSetting jeet to 11 I see
>>17143883Also in that article.>>17143939>things that it can't doThis is about the price references, which it has been doing for many months now.
>>1714371210/10 analogy
Bumpyx2Let the autism flow, anons.
>>17142018You should start practicing now to get the knowledge so you can (hopefully) hit the ground running when they open the flood doors open to everyone else.
Through the help of #FINNEXUS , Participant will operates in a open, transparent and equal way Value
>>17145137so this is the new scam of the week token?
>>17139483Can’t find that tweet...
>>17145236Because the retard fucked up the math in his tweet like the brainlet he is
>>17139483that math is very off retard
Impossible. almost no one is using the network, so that would put each oracle call at $50. i admire sergey in finding the most gullible group of retards who will buy on a tweet like this even after its proven all to be fake.
>>17139505comfy as fuck meme
>>17140587TAKE YOUR MEDS STINKY
>>17141135Working on your grammar schizo
>>17145691If people actually read the whitepaper, you'll quickly see that the chainlink team has no idea what they're doing. First they claim that blockchain doesn't have any oracles that can pull data, then they later on say that there are oracles that can, but they're not secure. Then they try to conflate the idea that encrypting the data from an api somehow prevents the data itself to be "secure" and resistant to tampering before it is pulled. Then make a massive assumption that there will be multiple data feeds to verify data. This can make sense if you're looking at stock market pricing or weather data, but let's be realistic, most the data feeds will becoming from private APIs that only that person or business has access to. In other words, they can still fudge the data before a chainlink node retrieves it. Then they blow apart the whole idea of decentralization when they that node operators have to be reputable. Sure they're penalized for fucking up, but then we'll still a small selection of node operators being used over everyone else. Lastly, AFAIK they still haven't solved the "freeloading" problem they discuss in the whitepaper.
>>17143585Kys jew
>>17145927>Seething
>>17145927you sound like a retard "fudding your own bags" but I'll play along. for high risk contracts, the information would have to be public, like the winner of a UFC fight payout contract.The oracle problem is not that the winner of the fight is unknown, and known only to facebook. The problem is if you have money on the line, you don't want to trust any one person to enter the winner in the code. Since its automatic payouts. link is about creating a game where information providers are punished for giving bad information and rewarded for giving correct information.nearly all data feeds that who will want to use chainlink will be looking at stock market pricing or currency data which is public. chainlink isn't supposed to be used for problems that don't exist "How do I know private data feed facebook is really giving me the right friends list?"the "freeloading" problem is solved in the first page of the whitepaper with a two step submit commit process so pretty sure you're just acting retarded.
>>17146052nah, link is like xrp
>>17146110"OCA introduces a few design challenges that we briefly discuss here.Payment for honest nodes.Unfortunately, while it penalizes freeloaders withnon-payment,OCAis not able to guarantee conversely that honest nodes are paid.Indeed, even in the benign case where no nodes are faulty, unlucky message orderingcan result in honest nodes that have contributed partial signatures toΣnot receivingpayment.This problem could be addressed in part by making Alg. 2 synchronous. Specifi-cally, “Wait” steps could require that nodes wait a period of time∆such that receiptof messages from honest nodes is guaranteed. In this case, all nodes with partialsignatures incorporated intoΣwould be guaranteed payment. Side effects, however,would be slower execution and the challenge of setting∆correctly.The problem of designing an asynchronous protocol with strong payment guaran-tees is an open research problem that we are currently exploring."
Im i still in time to buy in? Or should i wait and buy at the next drop
>>17146189wait it out. this will sink like a stone at a big btc move either way
>>17146189sergey will be dumping $1mil stacks soon
>>17146162This would technically work without using a recursive Type C function within your oracle calculator aggregating the results of a given data feed. However, Chainlink explicitly uses Type A functions within its code to ensure that this problem isn't something that might pop up when using coordinators on the E6 platform. I might be wrong on this, but I'm pretty sure that's what they're using.
I got the data wrong, misread the chart, sorry my frens
>>17146260kys
>>17139483Is 1k enough??
https://twitter.com/ChainLinkGod/status/1226006383708868609?s=20If it's decentralized why do they need to audit it?
>>17146260psyop. ChainlinkGod works for CL and CL told him not to say that. happy conspiracy day frens.
>>17146454>If it's decentralized why do they need to audit it?i think of people like you when im told a crypto project has a "strong community"
>>17139493>twitteryou missed the top
>>17146260so a few things, he's just looking at transactions to known oracles, it's probably ok to assume those are calls but they don't have to be.also none of the nodes appear to be legitimate services. they're all ponzi staking schemes.and I just realized he's not talking per node, he means that $150k is split between all nodes per year
>>17146796Ponzi schemes? That's not what PoS pools areAnd nope it's up to $150k per node, but each node makes a slightly different return as each node feeds different number of price feeds
>>17146883that's exactly what a pos pool is. it's not per node look at the chart.https://pbs.twimg.com/media/EQNYoI4W4Acmc6D?format=jpg&name=large
only two important points to take from this thread:>t sigs, mixicles, deco, staking, etc are in the pipeline>freemium needs to end at some point
>>17146796>he means that $150k is split between all nodes per yearNo, that's for a single node.
after going thru this thread. it all comes down to this. will there be enough users in crypto for chainlink to make enough money?I dont know right now because most of the users of defi have already been in the space. but if crypto/smartcontracts are going to adopted then chainlink WILL capture that value. this might be 5-10+ years away.Personally, i dont think we have enough users for atleast 3 years or until there is a killer app that onboards normies. Enterprises will take longer. but either way, being in chainlink is the best bet - next to maybe ethereum.
>>17140597true
>>17145927who is more likely to know. Ari Juels or this anon?
>>17147111as evidenced by the white paper, they don't know anything
>>17146936>https://pbs.twimg.com/media/EQNYoI4W4Acmc6D?format=jpg&name=largeWhere'd you get this from anon?
>>17146936You're looking at the wrong chart, that the amount of link transactions per day, this is the chart you want to look at
>>17147669nice photoshop lmao
>>17146260low IQ chainlink holder as usual. cant do basic math, how shocking.
>>17147905https://twitter.com/CryptoSpong3/status/1225921107426975746?s=19
muh "decentralized" KYC nodes
#300
>>17144097>Also in that article.Yes, it says the same exact thing I said here:>>17142493You have no idea what you're talking about
What kind of returns are we expecting with staking? Hoping for 5-10% with my 3k stack @ $1k/link
>>17149001I would guess 1-3%
>>17149026so im better off selling and investing that into some boomer shit that pays out decently, even if we hit 1k?
It's all true>> 17148855
>>17139608>>17142940>>17139702>>17140369>>17140517>>17145025Aside from getting familiar with the process, is there any reason to setup a node at this point? Are regular (non-invited) people earning LINK with their nodes or not? I have some co-located boxes I could run nodes on but don't see the point if it's not gonna earn me any LINK.
>>17147669>rewards by jobthat's not "transactions per day". also what a shitty graph, that incoming tx count isn't plotted against anything.it re-confirms that its across all nodes, as each node coincidentally has the exact number of BTC/USD jobsstay stinky
>>17140348Trying to control the thread? Don't be a faggot jannie
>>17142373Oh my god you’re an idiot. Why not have bitcoin just run on a single server somewhere, so that one company controls all the bitcoins? Do you even understand why decentralized blockchains matter at all? The same logic applies to why you want many different oracle sources.
>>17149234No but practice operating a node is the most valuable investment of your time that you could possibly make