/biz/ - Business & Finance

[Anonymous No.23778557]

so uhhhh.... what happens if all the data sources convey incorrect information to the oracles

[Anonymous No.23778581]

You take the oracle providers to Kleros court.

[Anonymous No.23778700]

>>23778557
The data sources are held accountable.

Why the question?

[Anonymous No.23778756]

>>23778557

[Anonymous No.23778768]

>>23778557
>fud from 4 years ago
wow the thousandth thread about this topic

[Anonymous No.23778788]

I feel that I can look back on all of this now and understand why we believed what we did at the time, and why we were so hopeful. It's not like it was as obvious as some other projects - but unfortunately some of you have not come to the realization that you are coping with financial stockholm syndrome. You still persist in flooding this board for validation, but it's so painfully clear that the spammers are nothing but desperate, emotional bagholders trying to circlejerk one last exit spurt out of this now provably centralized, amateur shitcoin.

Chainlink's team is literally dumping all over us as we speak. Sergey just has a few more presentations to go where he drags his drag his fat, tech-illiterate ass like a dog with worms before an audience of college freshmen who wanted to play with crypto as a hobby and then he can finally cash out his own stack and retire early. He could go up on stage, announce the cessation of the project, and then post pictures from some beautiful beach in czech every day and you would still hold onto your extremely overvalued stacks. They don't even dump on you themselves. That's how bad it is at this point - they can literally use a bot to sell off huge amounts of link every single day and know that you'll just make up cope because it's too hard to accept. This proves that the team is definitely aware of the sentiment on this board - they know that old retards and new suckers alike are trapped now. Sergey could show up to his presentations drunk at this point and you imbeciles would just try to claim that he's a chad despite the fact that he is a soft and timid little eunuch who is clearly in way over his head. But then again, so are you.

The difference is, is that he's going to walk away an insanely rich man while you're going to be flipping burgers and imagining yourself in sports cars for the next 40 years until you die of heart failure from eating big-macs 'ironically.'

[Anonymous No.23778789]

Then the Bogdanoffs laugh (for 5 minutes)
Next question

[Anonymous No.23778796]

>>23778700
isn’t chainlink recording the AP’s election call......

[Anonymous No.23778810]

>>23778796
And if AP messes up, that's on them.

[Anonymous No.23778817]

>>23778557
Yeah been saying this from day 1 . Link is vaporware

[Anonymous No.23778837]

That's called a 51% attack, and would be near impossible for a network as large as chainlink's. Happens to shitcoins all the time though

[Anonymous No.23778843]

>>23778810
what about definitive truth

[Anonymous No.23778850]

>>23778557
If everyone gets it wrong we simply shift to a new reality where they were right. Dickhead.

[Anonymous No.23778854]

>>23778581
based

[Anonymous No.23778877]

>>23778843
That applies to relaying truthfully whatever the source says.

[Anonymous No.23778920]

>>23778837
Technically that could be used in a 51% style way, I'd imagine more what OP is asking is if some data just comes through incorrectly. Economic data gets revised all the time, imagine if you had a smart contract that triggered when the jobless rate goes under 5% and some buffon at the Cleveland fed adds a few extra zeros to his employment numbers when typing them in. All the data sources would be reporting the same number but that number would be wrong. Of course the idea with chainlink being you can create small businesses that provide their own jobless reports so not all the data sources have to report from the Fed directly, but if the contract specifically executes on the fed numbers and human error fucks it up how do you fix that problem? You can't do a refund, by that point the money's gone through 5 other smart contracts to pay interest and for payroll and all that.

[Anonymous No.23778948]

>>23778837
>>23778920
A 51% attack would apply to producing an outcome that is different from the source.
OP is talking about the sources themselves putting out incorrect information.
Which is obviously the responsibility of the sources, not Chainlink.

[Anonymous No.23778995]

>>23778920
Isnt that mitigated by everyone using different sources? The fed doesnt rely on one retard fat fingering national level data

[Anonymous No.23779019]

>>23778995
>Isnt that mitigated by everyone using different sources?
Yes.
Whenever possible, as many sources as possible should be used.

[Anonymous No.23779023]

>>23778768
this

[Anonymous No.23779069]

>>23778995
It's an over generalization example, I think in reality you would see this more often with state or municipal level reporting which often does get fucked up by human error. Multiple sources wouldn't help when there's only one person you can go to for data on county water usage or whatever, no matter how many sources report on that one number there's still only 1 actual entity producing the original number.

[Anonymous No.23779074]

It's almost like the oracle is the data *source* and chainlink is just token not needed middleware

[Anonymous No.23779089]

>>23778581
i came here to post this

[Anonymous No.23779110]

>>23779069
Fair point, so there are some things that cannot be oracleized. I'll text sergey now and let him know

[Anonymous No.23779131]

>>23778557
>t. CEO of oracles

[Anonymous No.23779203]

>>23778557
Their reputation goes down and they lose some stinkies.
Also the reputation problem is still a non solved math problem.

[Anonymous No.23779210]

>>23778700
How? The data providers aren't nodes and do not have stake (ig they have reputation).. the oracles would be held accountable if found out

[Anonymous No.23779214]

>>23779069
I understand what you mean tho, I think eventually chainlink will be like macdonalds and there will be a job for everyone right down to fully fledged retards single handedly reporting their perspective on real world events

[Anonymous No.23779226]

>>23779210
Because sources are known entities.

[Anonymous No.23779239]

>>23778756
Debunked.

[Anonymous No.23779242]

>>23779074
>It's almost like the oracle is the data *source*
lmao no

>>23779203
OP is talking about sources fucking up, not oracles.

[Anonymous No.23779244]

>>23779110
They can be, i think it just requires more data producers rather than consumers. You would need businesses who exist solely to investigate and produce parallel data. You would have the county check water consumption and company X also check water consumption, and base your smart contract on only activating if both data feeds were the same. That's how you combat that,

[Anonymous No.23779284]

>>23779214
Yep. I think rather than chainlink it will be other corporations who exist solely to provide ground level parallel data for your smart contracts. In some cases human error will just become a cost of buisness, in other cases the volumes and money involved will be high enough it's worth it to hire somebody to parallel investigate and report a second data source so you can cross reference and reduce human error.

[Anonymous No.23779399]

>>23779284
I suppose it can also be solved by secure hardware that just reads and reports whatevers happening. There can be a level of entry for water consumption meters etc

[Anonymous No.23779421]

>>23778557
Sergey decides if the data is correct. Its in the whitepaper you utter fucking faggot.

[Anonymous No.23779483]

>>23779399
My argument for that would be even in that case you need to hedge your risk sometimes, who monitors the machine and operation to make sure nothing happens? What if someone with a personal interest breaks in and hacks your water meter to mess up what it reads? It's all just cost analysis and risk hedging, some cases you will need parallel data producers no matter how good one might seem.

[Anonymous No.23779569]

>>23779483
Yeah no matter what you cant have every node operator looking at the same source. You just need enough sources so that you can penalize dishonest nodes, if you dont have that then it has to be a no go

[Anonymous No.23779668]

The Chainlink network doesn't guarantee valid data, that's not the project's value proposition

[Anonymous No.23779740]

>>23778557
Game theory of the system disincentivized this since singular Oracles don’t know those whom they are aggregating with after full rollout. Brainlet

[Anonymous No.23779798]

>>23778557
No.

[Anonymous No.23779861]

[Anonymous No.23779868]

>>23778837
I feel this is more of a philosophical question than one of networks or programming.

[Anonymous No.23779918]

>>23778557
That's where Kleros Court comes in

[Anonymous No.23779920]

[Anonymous No.23780014]

>>23778788
Saved - big serg naz aka SN is probably one of the richest people in crypto just from BTC. Fud like this does make you think, if it's not money - whats the big macster's endgame?

[Anonymous No.23780071]

[Anonymous No.23780516]

Game theory.
Next question cuckholds

[Anonymous No.23780686]

>>23778557
API3 solves this

[Anonymous No.23781057]

>trusting one source
>thinks this is decentralized data
lol