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

/biz/ - Business & Finance

View post   
File: 337 KB, 1000x1406, the fate of linkies.jpg [View same] [iqdb] [saucenao] [google]
20316560 No.20316560 [Reply] [Original]

So, what happens when data providers realise they're being shafted and just provide data directly to smart contracts from source?

>> No.20316578

The smart contracts will no longer be secure?

>> No.20316584

>this kills the Stinktard

kek

>> No.20316588

where is your collateral for feeding the wrong data

>> No.20316603

>>20316588
It's called having laws

>> No.20316606

>What is tamper-proof for 1000 eoy

>> No.20316612

>2020 july
>they still dont fucking get it
stay poor retards lmao

oh and keep coping, its entertaining as fuck

>> No.20316625

>>20316578
Why wouldn't they be secure? Using chainlink you still need to trust the original data source you just have to place less trust in the oracle. But if the data provider have their own data feed there is not even a need for a middleman

>> No.20316628

>>20316603
lol

>> No.20316649

>>20316603
>human error is now punishable by universal law that spans across every country

>> No.20316651

>>20316606
But everyone already trust the data feeds now.

Why is giving it to a NEET first to act as a middleman going to make it more secure?

>> No.20316665

>>20316651
>everybody trusts the data feed
>trust me
TOP KEK

>> No.20316676

>>20316625
this is bait
I'm out

>> No.20316679

>>20316649
Didn't you just prove Link is shit.

With Link - human error you're fucked as the smart contract automatically fires.
With current system - human error? Ah ok, let's fix it

>> No.20316734

>>20316676
I'm still all in LINK though huehue because it is such a distant future before boomer companies tap into blockchain and defi and i will be rich already

>> No.20316742

>>20316665
>data from source - can't trust it...
>gives that same data to a "middleman" first
>this data we can trust for sure!

COPE

>> No.20316744

>>20316625
You mean all the data providers have to do is provide their data in a form that's understood by the contract, set up a system to provide collateral, collaborate to create a decentralized network and carry the legal responsibility of providing accurate info? Basically forming entire new branches within their companies to accomplish these things?

You're absolutely right, that sounds much easier than just using a middle man.

>> No.20316773

>>20316744
Iäm not saying that WILL happen it is just that it could happen. That is a legit argument as to why something like chainlink will still be around :)

>> No.20316781

>>20316560
They will do so via their own chainlink nodes earning double

NEXT Fud #369

>> No.20316824

>>20316560
BOO HOO NIGGA, I DON'T CARE
DIDN'T READ; NEVER SELLING

>> No.20316859

>>20316773
Sergey suffocating by a BicMac is more legit than this shit

>> No.20316873

it's ogre.

>> No.20316895

>>20316859
I meant that you made a valid argument you brainlet you. Right now data providers don't have to do shit and still have a piece of the defi/blockchain market

>> No.20316900
File: 114 KB, 1024x993, 1564506896229.jpg [View same] [iqdb] [saucenao] [google]
20316900

The thread that ended Chainlink (ticker: LINK).
I can't believe it's all fucking over.

>> No.20316899

Lmao dyor

>> No.20316903

>>20316560
why bother trading on a central exchange when you could find eachother irl and avoid fees

>> No.20316919

>>20316603
Lmao

>> No.20316956

>>20316560
DYOR

>> No.20316990

>>20316742
baka
>Nigger wants to insure his crop field from Weather
>Goes to Nigger insurance which receives data from Nigger weather station
>Nigger crops go bye bye because shit weather
>Nigger weather station gets paid off by Nigger insurance
>Claim data errors, can't proof weather fault
>No Nigger money, No Nigger crop, Nigger babies die

>Nigger wants to insure his crop field from Weather
>Sets up Nigger Smart contract
>Nigger crops go bye bye because shit weather
>Weather Niggers competing for stinkers provide n data feeds about Nigger weather
>It's provable that crops died because of the weather
>Nigger Smart Contract pays out insurance, Nigger babies live

>> No.20317041

>>20316990
> Niggers farming
Not since the slaves were freed and you know it

>> No.20317284

>>20316744
That does sound hard, but not impossible. Someone should create a system to do all of that. Perhaps even issue a token to fund development of the system, and integrate it into the system's future useage

>> No.20317410

>>20316990
That sounds like small fry shit nobody cares about though

Linkies are always saying they'll dominate the entire financial sector

If you don't trust the data source - why does putting it through the Link Rube Goldberg machine make it any more trustful?

>> No.20317449

>>20316679
Link is based on the delusion that crypto as it exists is great. It's an extremely good idea in a broken system. Unfortunately it's a stupid idea in the real world

>> No.20317522

>>20317410
you are free to replace Nigger with any human and crop field and weather station with any product, service or idea as data related to it.

>> No.20317531

>>20317410
b- b- because sirgay said he solved the oracle problem?

>> No.20317655

>>20316612
>Lmao it will never get to $4
>Okay it's going to stall at $5
>Never will you see a $6 link in your life
Yep they are coping hard. My dick was rock hard at almost $9 last night.

>> No.20317783

it relies on sergeys company doing KYC on apl the node operators. how will anyone provide false data when they will be sued by smartcontract.com? oracle problem fucking solved.

>> No.20317829

>>20317655
what deluded fucking world do you live in where a chain link can have higher market cap than the chain it links to? just hold ETH bro.

>> No.20317844

>>20316990
130iq+
>>20317410
90-110iq

>> No.20317891
File: 25 KB, 534x574, images - 2020-07-13T094824.924.jpg [View same] [iqdb] [saucenao] [google]
20317891

>don't know crypto is collector's

>> No.20318145

>>20316560
Uh oh, pissed stinker incoming KEK!

>> No.20318157

>>20316744
Also that oracle is much much easier to hack compared to properly distributed solution.

>> No.20318216

>>20317829
>It will never hit $10
Never selling

>> No.20318298
File: 229 KB, 818x2048, Joey Krug.jpg [View same] [iqdb] [saucenao] [google]
20318298

>>20317410
>rube golderg machine
lmao Joey Kruz used that same expression to describe the Chainlink Network.

>> No.20318337

>>20316560
Suterusu, anon. Buy SUTER.

>> No.20318407

>caring about link use cases after 2018
nigger ask eth miners what is eth for xD
it's all bitcoin after $1

>> No.20318906

>>20316990
Linkies in 2019:
>we'll conquer the quadrillion derivatives market!

Linkies in 2020:
>we'll conquer farm insurance in Africa

What a fall from grace

>> No.20318979
File: 358 KB, 1024x768, 1590419592903.png [View same] [iqdb] [saucenao] [google]
20318979

>>20316560
>>20316603
Lmao at this fud, you not even qualify as a brainlet.

>> No.20319030

>>20317829
... anon you just made me realize that there is no doubt link will be bigger than all of the coins it links to. its the G-d damn middleman of crypto, like amazon is the middleman of internet businesses. The facilitator or deal broker always comes out ahead as they become the platform for everything else to work on. Anything using smart contracts will have to use link soon in the future or else theyll have no credibility. Imagine a new brand trying to start nowaday without Amazon, Walmart, FB, etc. no credibility.

link is the platform of ccrypto and will thus be number 1. i dont even have any link and pray it dips 50% like it has in the past.

>> No.20319144

>>20316744
>You mean all the data providers have to do is provide their data in a form that's understood by the contract
Yes.
>set up a system to provide collateral, collaborate to create a decentralized network and carry the legal responsibility of providing accurate info?
Why would it need to be decentralized? They're literally the data provider, of course their data is correct. And if it isn't correct the problem persists with Chainlink nodes, doesn't matter if there's a thousand chainlink nodes if they all get their data from the same provider. And if you want to aggregate different data providers it's just a few lines of code in solidity.

>> No.20319592

>>20318979
>zero counter argument as usual

Cringe...

>> No.20319618

>>20319144
>of course their data is correct
According to who?
>data from the same provider
Retarded.
>just a few lines of code in solidity
Performing an attack analysis on data inputs from several sources and figuring out who to believe is a lot harder than just using an oracle network which makes deception extremely expensive.
If you're just going to go back to "lol just trust me bro" then market sell all your crypto, put your money in a traditional centralized bank and use contracts made by lawyers. The whole fucking point of all this is to replace slow, expensive, unreliable and manipulative humans with just a little bit of technology. This is true legal and banking automation. Either get on board or enjoy watching us leave without you.

>> No.20319735

>>20316651

But everyone already trusts the banks now, no need for btc

>> No.20319781

>>20316679
>With Link - human error you're fucked as the smart contract automatically fires.
sounds like a flawed contract, idiot. you cant even begin to imagine the moon mission once the jewish lawyers figure out how to tell solidify coders how to make a contract.

>> No.20319844

>>20316560
when people start architecting actual projects and see this big fag rent seeking shart in the protocol layer and realize they're getting jewed.

>> No.20319849

>>20319735
But Bitcoin is supposed to replace Banks

Link still relies on the same old data - not replacing it.

So a false equivalency there

>> No.20319857

>>20319030

Shit. “Link is the Amazon of crypto” is a pretty good and concise pitch.

>> No.20319922

>>20319857
Link is more like the floppy disc

CD will be along soon, then something better than that

>> No.20319986
File: 30 KB, 351x500, 48552974-E247-484E-83C6-B83A6F3D5772_4_5005_c.jpg [View same] [iqdb] [saucenao] [google]
20319986

>>20316560

>> No.20319996

>>20316990
this is literally not how commodities, or farming even, business is conducted.

I'm legit convinced linkies are financially uneducated retards who don't understand how the world actually works.

>> No.20320099

>>20319618
>Performing an attack analysis on data inputs from several sources and figuring out who to believe is a lot harder than just using an oracle network which makes deception extremely expensive.

what the fuck are you even talking about? it's the same fucking problem, but now you have an array of rent seeking oracles to sift through.

>> No.20320231

>>20316560
The bigger question is why they would use ChainLink and not something else. The Oracle features should be native on the chain. Most gen 3 chains will have that.

>> No.20320281

>>20319922
bitcoin floppy disk
ethereum cd
link cloud service

>> No.20320762

>>20320099
Wrong.

>> No.20320957

>>20320231
Centralized oracles, that why. No one gonna trust a multi million dollar contract on centralized oracle.

>> No.20321002

>we don't trust the data!
>here's the exact same data, fed through the Link system
>oh yes, now this is data I can trust!

The absolute STATE

>> No.20321019

>>20321002
Yes.

>> No.20321028

>>20321002
game theory fucking midwit

>> No.20321054

>>20320762
how dipshit? I can pick any x data services or I can trust x of any of the oracle provided data sources. explain where the inaccuracy is.

>> No.20321075

>>20316560
>HODLing shitcoins
>Not riding growth cycles and cashing out for the next wave
ngmi

>> No.20321131

>>20321028
>game theory
Are you just saying random words now - nothing to do with the fact that if the data is shit, packaging it in Link wrapping paper does't change the fact it's shit

>> No.20321333

>>20321002
can someone smart refute this? i love link but i don't get how it fixes this problem

>> No.20321409

>>20321131
dunning kruger
go fuck urself midwit
dont buy and or sell your link and stay poor

>> No.20321643

>>20316560
Yeah, let’s just do that! Here’s an ETHEREUM SMARTCONTRACT lets just put our OWN data in!

>> No.20321918

>>20321333
that problem isn’t link’s to solve

the problem link solves is data transmission from source, not data accuracy from source. it’s not magic. All it does is prevent one contracting party from fucking the other because of an inherent power/information discrepancy. the network ensures that instructions are carried out without manipulation at any point during the process. It still falls to contracting parties to make sure they know what they’re signing before they sign

>> No.20322023

>>20316603
then you're not solving the oracle problem at all

>> No.20322082

>>20316560
You are right. Competitors will come that can create a system where the data providers can directly collateralize their inputs, removing the middleman entirely. But chainlink will continue to pump before that happens, because few understand the statistical difficulty of aggregation and fraud detection in such a system because it’s a novel problem. You have to be silly to think there will be only one dominant oracle provider in the blockchain ecosystem.

>> No.20322094

>>20320957
How is it even oracle when you have to trust an external entity for it? That's against the very first principle of crypto currency, and the usage for this is contracts using crypto currencies.

>> No.20322098

>>20321409
the irony

>> No.20322921

>>20316603
Hahahahahahahahahaahahahaha
It’s 2020 and people are still this clueless