/biz/ - Business & Finance

[Anonymous No.19609712]

I’m tired of reading all the absolute schizo delusion on this board, so take a seat /biz/, I’ll tell you a secret that’s already been accepted by everyone in the know: Chainlink is never going to bring about the type of decentralized connectivity that you cultist simpletons think it will. You know why? Because data, by definition, IS NOT decentralized. It comes from proprietary sources who have exactly _zero_ incentive to willingly, and for meager compensation, publish this data into the brandless “truth-cloud” that is the Chainlink network, only to be aggregated and resold by third parties, namely; the node operators. The companies selling said data have spent years, sometimes decades building strong brands in their respective fields and markets, not to mention the standardization tools, relationships with the (measurement-level) sources etc... Do you honestly think they’re going to willingly let some pimplefaced nerd come in between them and the customer with their branded ChainlinkTM node and risk that nerd fucking up their long fought for reputation? Not to mention the financial cost to the data provider of having a middleman, who does nothing, getting a lion’s share of the revenue. You can’t make something out of nothing. Much like an economy doesn’t have things unless it has factories, an oracle, not to mention a network of oracles, doesn’t have data unless it has providers.

[Anonymous No.19609720]

>>19609712
>B-b-but aggregation will replace single-source oracles!
Let’s, for the moment, set aside the fact that only source level aggregation matters, while node level aggregation is absolutely pointless and idiotic. How exactly do you propose to aggregate 90% of the world’s data? The biometrics will be aggregated by the user wearing two smart watches, one on each wrist? The shipping crate will have multiple IoT devices (min. 3 for n/m) from multiple companies simultaneously? You know how retared you sound? To make matters even worse, even for source-level aggregation, what exactly is achieved by pairing a Bloomberg ticker with Alice’s Stock Market API and Bob’s Market Prices? That’s right - a less trustworthy feed. The inconvenient truth is that aggregation is all smoke and mirrors, impossible for most of anything besides a DeFi crypto price feed, and, at least at present, largely useless even there. Hell, you don’t even know where the Chainlink Price Reference feed nodes are getting their data! Could be a Coinmarketcap scraper for all you know. Of course none of this matters, because Chainlink is the centralized party governing the data feeds, and most of you don’t actually care about any of this anyway, as long as 1000EOY.

[Anonymous No.19609731]

>>19609712
>believing that a fucking json parser is a revolutionary technology

[Anonymous No.19609735]

>>19609720
Now, maybe this isn’t enough to sway you. Maybe you can do some mental gymnastics around the issue of centralization. Let’s say you’re an enterprise smart contract developer. How would you go about connecting your company’s backend database to a smart contract? Create an adapter for it and publish it on market.link? Congratulations, you just dun goofed yourself out of a job by exposing private information to anonymous third parties. Run your own Chainlink node? Can you? Think your manager is going to hire a full-time developer at around $10k/month to manage a Chainlink node 24/7? Because that’s what you need. And even if you can do it, it’s not going to be decentralized anyway, so why use something as complicated as Chainlink, instead of, say, Provable? Maybe you’ll ask an existing node operator to run the node for you? Great, you’re back to trusting a third party.

[Anonymous No.19609748]

>>19609735
Mind you, I’m not saying Chainlink is completely useless, but in the world of data the tail is 90% of the body, and that tail is undecentralizable at the source level. Chainlink is great for the remaining 10%, but connecting the tail is a much bigger problem. It is also the reason why, to this date, the oracle problem remains unsolved.

P.S. No need to recycle the old “Everyone’s adopting Chainlink so fuck off!” trope. Just look at the facts: Yes, DeFi is adopting Chainlink, because crypto market data falls within the aforementioned 10%. Now, DeFi is going to become huge and, hell, even ISDA is probably on board, so you’ll get your on-chain derivatives and become rich in the next bull run! Congratulations. However, that’s about the extent of it. You know why Chainlink has 500 partners? Why every literal who is announcing they’re partnering with Chainlink? Because it pumps the price of their shitty token. Unfathomable for those blue eyed Linkies, I know.

Chainlink solves price reference data feeds. Not the oracle problem.

[Anonymous No.19609903]

>>19609712
>>19609720
>>19609735
>>19609748
DR:NS 1000EOY

[Anonymous No.19609949]

Thanks for your continued interest in our financial well being niggerfag

[Anonymous No.19609957]

>>19609712
>>19609720
>>19609735
>>19609748
>somebody actually typed all of this out for the sole purpose of being a fucking retard on the internet
holy crap

[Anonymous No.19610151]

>>19609712
>>19609720
>>19609735
>>19609748
one stupid fucking retard arent you?

[Anonymous No.19610155]

>>19609903
The average Linkie, Exhibit A

>>19609949
How's the Kool Aid? Remember to drink the whole cup, like the mindless sheep you are.

>>19609957
>Y-y-you're fucking retarded!
Nice counter argument. Good to see Linkies versed in the art of rhetoric.

[Anonymous No.19610218]

>>19609903
>>19609957
>>19610151
the absolute state of delusional seething link cultists

[Anonymous No.19610331]

I'm glad you wasted so much time writing something I didn't even read.
Feel free to write more, I have plenty of free time not to read it.

[Anonymous No.19610377]

>>19609957
10 minutes attention span.

[Anonymous No.19610393]

>>19610331
>I actually can read, I just don't want to
Sure little buddy.

[Anonymous No.19610419]

>>19610218
Fuck off faggot

[Anonymous No.19610452]

>>19609712
>>19609720
>>19609735
>>19609748
Cope

[Anonymous No.19610464]

>>19610393
Imagine turning up 3 years and 20x late and thinking you could fud your way in with the "muh data source" fud from 2018 lmao.

[Anonymous No.19610490]

Based. This is a hard truth that linkies won't swallow easily, and I'm saying this as someone who's been holding LINK since the ICO.
Anyhow, that does not mean that the work on this should stop. I'm sure that eventually a solution will be found to ensure the trustworthiness of single sources of data, most likely by some other interested party. Chainlink will also eventually transition into something that's actually decentralized, but they don't seem to have the willpower for that at this point.

[Anonymous No.19610498]

>>19609712
Grug no like make Bill Gates rich again

[Anonymous No.19610500]

>>19610452
>>19610464

[Anonymous No.19610652]

>>19610464
So you did read it after all? There you go son! However, reading is one thing, comprehension is another. That will be your next lesson.

[Anonymous No.19610753]

>>19610464
imagine missing out on 100x eth by 6 months and jumping on a random scam shitcoin because 4chan told you so

[Anonymous No.19610835]

>>19609712
https://www.ledgerinsights.com/jp-morgan-using-blockchain-network-to-automate-money-market-fund-payments/
>Calastone platform was based on Enterprise Ethereum, but with a desire to remain blockchain agnostic'
https://interwork.org/membership/members/
Ctrl+F 'Calastone'
Any familiar logos nearby?
It's all so tiresome

[Anonymous No.19610849]

Provable rebranded to Oraclize and integratted chainlink though.

[Anonymous No.19610859]

inb4 9 posts by this id 'mUspYfLf'

[Anonymous No.19610878]

>>19610835
>a part partnership, through a partnetship, through a partnership
pure strawgrasping. Interwork is gonna end up being some small blip in history as a failed start up company and nothing more
>muh new york bill board with interwork logo
congrats, you invested in a company that spends millions on advertisement

[Anonymous No.19610883]

>>19610878
>9 posts by this id

[Anonymous No.19610893]

>>19610859
why does high post counts scare the linkie? Every thread, when they lose an argument, they bring up post number.

[Anonymous No.19610912]

>>19610893
Just sold this scam, thanks for caring about me fren. All 100k tokens gone.

[Anonymous No.19610916]

>>19610893
Because chainlink is a scam.

[Anonymous No.19610919]

>>19609712

[Anonymous No.19610942]

>>19610893
The below greentext is the linkie kryptonite
>This scam broke AML/CFC/Series funding regs
The best part is most are so fuckin dumb they don't even know what it means.

[Anonymous No.19610966]

>>19610835
It's all connected! Don't you see!?

[Anonymous No.19610977]

Chainlink will fail simply because its high cost and no revenue generation. You have to PAY huge costs to use it. Shit like eth gas, staking, collateral, nodes, etc. But the only thing youre getting out of it is maybe your data is more secure. Thats it.
All these smug douche bags like that Kava ceo who takes pride in spending hundreds of thousands of dollars of their companies money on chainlink are just going to bankrupt their project in the end to prove a point.
You cut 0 costs with link. The only thing that gives the token value are blockchains shelling out their own wallets to use it. This is a fact. And maybe 1% of links "partnerships" actually did any adoption

The solution that costs less but is just as secure will always win in the end. I think Compound's open oracle or Codius is going to be the end of chainlink

[Anonymous No.19610982]

>>19610966
>>19610916

[Anonymous No.19611001]

>>19610977
Any newfags here, i hope you seriously don’t fall to this shit tier fud.

[Anonymous No.19611029]

ITT ppl who can't think outside of the box

[Anonymous No.19611072]

>>19609720
> The shipping crate will have multiple IoT devices (min. 3 for n/m) from multiple companies simultaneously?
Yes.
Kinda like how products can have multiple parents from multiple companies or multiple types of foam/bubble wrap protection.

[Anonymous No.19611114]

>>19611001
>shit tier
kek. It costs money to use chainlink. The kava ceo literally admitted he has to PAY CHAINLINK to use it. Thats a horrible business model. How the fuck could you possibly pitch that to a companies head
>hey boss, want to invest in this new tech that will costs hundreds of thousands, if not, millions of dollars a month?
>What the fuck is your problem? No
>but it gets data :DDD
>we can already do that for free with a JSON parser
>no no no no. Its slightly more secure (maybe)
>Get the fuck you of here retard. never suggest me another idea again

[Anonymous No.19611124]

>>19609712
the only oracle problem is nobody need oracles

[Anonymous No.19611190]

Sergey is a russian asset.
https://www.youtube.com/watch?v=e6vwbcutC0Q&t=77

[Anonymous No.19611191]

>>19611114
furthermore, here is the jack ass CEO spending god knows how much of his companies money on a useless scamware just so he can get internet points from 4channers. Yeah, great business model. Youre already on thin ice with a R&D shitcoin project no one is paying you to use, and now youre spending all your company resources on something you dont need. Such a great ceo

[Anonymous No.19611204]

>>19609735
>enterprise smart contract developer. How would you go about connecting your company’s backend database to a smart contract?
this will never be a thing. ever. and even if it does a company will never use an outside protocol for this. they will develop their own. anyone who actually believes this is a grade A retard.

[Anonymous No.19611214]

>>19611191
Nigga, why you responding to this thread? It shit tier fud and anyone with a brain knows the fud is surface level deep.

[Anonymous No.19611227]

>chainsimp cultists in full force
this thread must contain something very interesting

[Anonymous No.19611234]

> 2018 fud in 2020
Brilliantly played

[Anonymous No.19611251]

>>19611204
Doracles-shmoracles

[Anonymous No.19611285]

>>19610916
all cryptocurrencies that arent fucking currencies are scams. they are protocols that do not need a token. brainlets fell for the hype and basically funded development, with ICOs, on the promise of getting rich. in reality, they paid for the opportunity to have VCs dump on them. this entire space is a shitshow because "big money" got involved to distract you from being your own bank. do any of you faggots actually remember the point? na, you're all newfaggot retards who have no idea what you're doing.

[Anonymous No.19611302]

>>19611214
>i cant refute aything you say
got it

[Anonymous No.19611310]

>>19610977
Not sure what Ripple has to do with any of this.
Also:
>Oracles? Corda
Fucking lol.

>>19611001
>>19611029
I was really expecting to get at least an attempt at a retort but, alas, it looks like the state of affairs in Linkie delusion land have progressed to a point where allegiance is blind and requires no logical foundation. Sad, that.

>>19611072
You are equating components of a product and bubble wrap to data transmitting devices which need to be commissioned from separate providers, with separate Chainlinked databases, all for the luxury of having a redundant data feed for your potato shipment. You know how many logistics providers and/or insurers are developing this right now, or even have an interest to? The answer is none. Zero. Most of them are still working with bar codes and do fuck all with blockchain/DLT. But sure, maybe in 50 years.

[Anonymous No.19611325]

>>19611234
Why do linkies act like 2018 fud was somehow ever resolved? It literally never hasnt.
Your collateral system is still impossible to make decentralized and all you built is literally just a JSON parser.
>no staking
>no t sigs
>no collateral
>kyc
>no mixicles
seriously, it is a fucking JSON parser. Compound open oracle already does the job of chainlink for free kek

[Anonymous No.19611386]

>>19611285
Nobody needs unregulated cryptocurrencies
Go rewatch yesterdays vc video

[Anonymous No.19611393]

>>19609748
Stellar reasoning. Just sold 100k because of your really high iq post which definitely doesn't completely miss the mark in any way shape or form.
S n H

[Anonymous No.19611436]

>>19609712
>>19609720
>>19609735
>>19609748
it's not about the decentralisation in itself retard, if that was the case you would be right.

It's about solving the oracle problem. Do you even understand what that is? It's the problem that data needs to be pushed to the blockchain.

That means a data provider would have to actively pay gas to push data to every single smart contract that is using their data. These data providers are experts in providing data. But what do they know of bunching threshold signatures to lower costs? What do they know of the risks and security that has to come with smart contacts? In a SC, if the value is wrong for even one push, billions could be lost (for the clients they provide data to now, this is not the case, exactly because there is lots of costly middlemen to prevent things like this).

Because SCs are automated, the data side of things suddenly has huge opportunity and incentives for fraud. After all, the SC doesn't question anything. It just acts on the data, unlike current human actors.

This is where chainlink comes in. It is only taking the decentralised approach to solve the oracle problem. It has nothing to do with the existing security of data providers.

So all your wall of text proved is that you (like many) don't understand the oracle problem.

[Anonymous No.19611535]

>>19611310
>In a SC, if the value is wrong for even one push, billions could be lost
whose gonna determine what data is wrong or right? A centralized source
What the fuck will you do in a collateral system if the correct source gets punished and pays collateral? What, give the collateral back? The only way to determine who gets what collateral will always be a centralized source
>no, people with high rep will have the most say
a centralized source. If someone has high reps and your trusting him with most the power that is not different then just trusting a centralized power
>but the high rep source could fuck up
shit like compound open oracle already gets rid of outliers and medinaizes sources. What chainlink does prevents no token since compound does it for free.

>B B BUT MUH PAY NODE OPERATORS
Why the fuck couldnt you pay a source not in LINK ??? Chainlink network offers nothing over compound open oracle

[Anonymous No.19611537]

>>19611436
>it's not about the decentralisation in itself retard, if that was the case you would be right.
>But what do they know of bunching threshold signatures to lower costs?
Oh jesus, did the Summer break already start? I refuse to believe you're any older than 15 with this irrational blathering post of yours. Could you please skidaddle on back to your activities and let the adults talk.

[Anonymous No.19611561]

>>19611535
You're quoting the wrong post bud.

[Anonymous No.19611583]

>>19609712
>>19609720
>>19609735
>>19609748
tl;dr at the bottom if you want to skip the wall of text

This has got to be either the most elaborate linkie falseflagging or an advanced trolling attempt. I refuse to believe someone can genuinely type out all that gibberish when everything is explained in detail in the whitepaper and other amendments like the paper on mixicles.
Everything you spewed out is a direct consequence of not even knowing the technology. But I see this for what it is, a falseflag operation to keep a certain (((crowd))) out of chainlink. And I'll raise ya one ar that.
tl;dr
OP is right
FUCK CHAINLINK

[Anonymous No.19611614]

>>19611561
not sure how i did that. lmao
>>19611535
meant for >>19611436

[Anonymous No.19611641]

>>19611583
mixicles and towmcrier do nothing at all to make chainlink less centralized
>um, yes they do
prove it. Show to the whole world how towncrier and mixicles are going to make chainlink bulletproof. im waiting

[Anonymous No.19611680]

>>19611641
>>19611614
Wow man all this anger for apparently another scam? If you're an expert you tell me why things cannot be solved and how the rest of the world is perfect.

[Anonymous No.19611722]

>>19611641
>prove it. Show to the whole world how towncrier and mixicles are going to make chainlink bulletproof. im waiting
There is no proof because it doesn't work.
MIXICLES USELESS
TOWNCRIER USELESS
CHAINLINK USELESS
PEE PEE POO POO

hehe did I do it right?

[Anonymous No.19611778]

>>19611386
kek

[Anonymous No.19611809]

>>19611641
>mixicles and towmcrier do nothing at all to make chainlink less centralized

what are you on about buddy?
mixicles and towncrier actually don't do anything to make LINK less centralized

mixicles is about anonymity and town crier is about security, step up your game

[Anonymous No.19611842]

>>19611583
>I refuse to believe someone can genuinely type out all that gibberish when everything is explained in detail in the whitepaper and other amendments like the paper on mixicles.
>Ah, the infallible DOCUMENTS! Now tell me, how does the reality of the Chainlink Decentralized Oracle Network TM correspond with those documents?

Never mind, I'm sure they'll get back on the track laid out in the whitepaper eventually, right? One day, the Messiah Sergey will ascend to the midst of the true believers and you will all run your nodes with all your LINK staked in them for 15% annual returns and it will be wonderful!

I'm sure the current state and direction of things is just temporary.

[Anonymous No.19611862]

>>19611285
>being your own bank
this guy is an oldfag

[Anonymous No.19611914]

>>19611386
>yesterdays vc video
I missed this...got a link or some terms to search the archive?

[Anonymous No.19612074]

>>19611537
Since you didn't understand I will leave out the big words.
Smart contracts offer new types of risk due to being automated. Wrong data can be fed to a contract and you could easily get away with all the value locked up in it.
This is not the case with modern data users. They have a chain of people processing that data. Hence there is no real incentive for data providers to give them the wrong stuff on purpose.

Not so with Smart Contracts. This is why the Oracle problem needs additional decentralisation.

[Anonymous No.19612283]

>>19610977
>Fortune 500 needs 100.000.000 USD annually to pay for office rent, insurance, employees salaries that do settlement, accounting, law related work, basically glorified paper pushers
>Chainlink does the same safer, more efficient and faster while eliminating human errors for $20.000.000 payed to node operators annually
Do you know how significant cutting their cost to 1/5th is with their razor thin margins?

[Anonymous No.19612415]

>>19612074
Since you didn't understand I will leave out the big words.
Have they gotten to big words in your English classes already? Wouldn't want to have to revisit them during the summer break, I understand.

[Anonymous No.19612419]

>>19612283
the fuck you on about?
>it cuts costs
it ADDS costs. What youre suggesting is to do away with regular contracts (which chainlink is offering anyway with KYC) so youre basically relying on a collateral system to fill in the void of regular contracts.
>faster eliminating human errors
buzzwords buzzwords buzzwords.
Chainlink offers virtually nothing over shit like Compound Open Oracle besides a bullshit collateral system. Chainlink is nothing but an expensive json parsee ij its current state. Its literally just OpenOracle in its current state. The only thing link has thats different is a soon to be released (actually 2 more years maybe) shitty collateral system

There is 0 things LINK does to benefit a business. We know that reckless CEOs spend a bunch of money to use chainlink though >>19611191

[Anonymous No.19612711]

>>19612419
>all that barking
looks like someone got priced out

[Anonymous No.19612820]

>>19610652
Cringey

[Anonymous No.19612826]

>>19612711
bought linknin 2018 and sold in 2020. Rode it like the whore in your pic

[Anonymous No.19612958]

>>19609712
>spy ID
Not on my watch. Get the fuck off my board you glowing jew

[Anonymous No.19613028]

>>19609748
>Chainlink is great for the remaining 10%

sounds like a lot of data lol

[Anonymous No.19613233]

>>19609712
3 years is a long time

[Anonymous No.19613313]

oh no I just sold everything

[Anonymous No.19613794]

>>19609903
>>19609949
>>19609957
>>19610151
>>19610331
>>19610419
>>19610452
>>19610464
>>19610859
>>19610883
>>19611001
>>19611029
>>19611214
>>19611234
>>19611393
>>19611583
>>19611680
>>19612711
>>19612820
>>19612958
>>19613028
>>19613313
>You argument is so bad that we all know it's bad, but we cannot refute it because fuck you you're dumb. 1000EOY.

Linkies in this thread summarized. Stellar performance. Truly. Kudos everyone.

[Anonymous No.19613851]

>>19609712
Not selling. Short it so we can get another giant drop so I can buy more.

[Anonymous No.19613914]

>>19613794
Thank you for financial advise, sold everything after 15th post

[Anonymous No.19614077]

scam

[Anonymous No.19614270]

>>19613851
Can you imagine, for a moment, that I don't give a single flying fuck about your cryptocurrency holdings, or the price of LINK. I literally said I think you're probably going to be rich if you hold a lot of it, because that 10% includes DeFi, including ISDA compliant on-chain derivatives. And even if that isn't the case, the crypto markets have proven their irrationality with things like XRP to the point where I'm inclined to believe LINK will pump massively even if literally nothing happens besides your run of the mill bull run.

I made this thread, because there are too many absolutely deluded little spring hatched shitheads raving on about Chainlink connecting EVERYTHING, when nothing could be further from the truth. It is a very specific tool for the creation of aggregated data feeds, and it's not really even living up to that promise at the moment, since it's centralized as shit. The current state of the Chainlink project has nothing to do with the whitepaper they published to get that sweet 2017 ICO money, and you can forget about running a node and making a killing on staking. That much should have been clear to you already anyway.

I will conclude by re-stating my disappointment in Linkie's ability to refute anything I've said. You truly are a sad lot of literal cult members, which is ironic since you have absolutely no idea what you've invested in.

[Anonymous No.19614429]

>>19614270
>You truly are a sad lot of literal cult members
youre just now realizing this? Linkies main arguments are basically putting their fingers in their ears and going
>LALALALALLALALALALALA
Did you not see the past couple of days how linkies had huge dedicated threada to doxxing and hunting down some random russian broad to "prove" some retarded 15 year old rooskie is the satoshi nakamoto?
Its been obvious since 2019 /biz/ is no better than a deluded tranny cult. They are literally delusional in everything they say or do. All we can hope is main whale groups keeping LINK afloat fuck off to another coin and let link tanks so /biz/ jonestown massacre occurs

[Anonymous No.19614611]

>>19614270
>You truly are a sad lot of literal cult members, which is ironic since you have absolutely no idea what you've invested in.
Yeah it's kinda nuts man. The sad part is ~80% of the anons on here do little to no research on their own terms, they just read the shitposting on here and accume it must be real.
Good series of posts. Pretty sad that there's no one but bumbling retards here to respond but hey, that's the state of biz right now.

[Anonymous No.19614631]

>>19613794
The day the FUD stuck.

[Anonymous No.19614699]

>>19614429
>>19614270
IOTA went from $0.00017 to $4.5 because muh tangle while being a bumfuck of a useless shitshow
LTC went from $1.5 to $320 because muh 2nd bitcoin while being a bumfuck of a useless shitshow
ETH went from pennies to $1500 because muh smartcontracts while being a bumfuck of a useless shitshow
same with XRP muh banks
NEO muh chinas ETH
NANO muh userfriendly tangle
XMR muh privacy
Why wouldnt LINK go from pennies to whatever retarded over priced amount because of muh 4th industrial revolution, while being a bumfuck of a useless shitshow?
This shit only needs a good buzz word underlying theme shilled to redditors for dumping their paychecks in, when whales decide to make this ponzi to bubble again

[Anonymous No.19614905]

>>19609720
Kek you put into words better what I've been saying for ages. A decentralized oracle is a contradictio in terminis.

[Anonymous No.19615976]

>>19611535
The point of Chainlink is that the customer can pick their node(s) that works for their need. There will always be inexpensive yet possibly lower "proven reputation" nodes. There will also be "proven" nodes better for higher value contracts that can reliably handle high value contracts. If you have a million dollar contract you'd probably want to use a node that has proved its reliability to deliver rather than anonymous node 123 which might be great and inexpensive for say a ten dollar contract.
This is another piece of the puzzle that most nolinkers don't understand. The value of link doesn't matter because there are decimals. The USD value of .0001 of $1000 will mean that the collateral doesn't have to be one whole link token. This also makes it accessible to companies that aren't tech giants with bottomless wallets.