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File: 11 KB, 200x200, chainlink.png [View same] [iqdb] [saucenao] [google]

Anonymous Fri Oct 20 22:55:57 2017 No.3980384 [Reply] [Original]

is it over? are we finished?

>>	Anonymous Fri Oct 20 22:56:25 2017 No.3980389 File: 73 KB, 537x301, fuck.jpg [View same] [iqdb] [saucenao] [google]

>>	Anonymous Fri Oct 20 22:56:33 2017 No.3980395 Yes, anon. It's done.

>>	Anonymous Fri Oct 20 22:57:23 2017 No.3980406 >>3980395 fucking finally

>>	Anonymous Fri Oct 20 22:57:45 2017 No.3980409 >>3980395 it wasn't supposed to end this way, I was supposed to escape wage slaving

>>	Anonymous Fri Oct 20 22:58:36 2017 No.3980419 >>3980389 Hahahahaha!

>>	Anonymous Fri Oct 20 22:58:40 2017 No.3980420 >>3980384 floor is 10cents

Anonymous Fri Oct 20 22:58:57 2017 No.3980422

>>3980384
Whats to stop whales from setting up Nodes, scrapping any public data and offering it them selves getting bigger in the process and crowding out smaller data offerers? If smaller data offerers get pushed out how could this be an effective trustless system. Horrible approach to the oracle problem.

>>	Anonymous Fri Oct 20 23:01:22 2017 No.3980445 >>3980422 What the fuck is a oracle

>>	Anonymous Fri Oct 20 23:03:09 2017 No.3980467 File: 4 KB, 108x120, 108px-Feel_Eyes_Closed.jpg [View same] [iqdb] [saucenao] [google] Join me in a calming moment my fellow Linkies. A good song to die to... https://www.youtube.com/watch?v=aQeIYVM3YBM

>>	Anonymous Fri Oct 20 23:04:56 2017 No.3980480 File: 279 KB, 898x790, 1476449283173.png [View same] [iqdb] [saucenao] [google] Don't worry fellow LINKies, once the BTC fork is over, this will pump back to 10k sats.

>>	Anonymous Fri Oct 20 23:05:24 2017 No.3980485 >>3980384 Yeah it's "over". One month after launch and a successful conference showing connections to absolute banking giants, literally zero bad news or complications. It's over. Fucking idiot.

>>	Anonymous Fri Oct 20 23:05:58 2017 No.3980492 >>3980422 The thing that would stop them is how are they going to get paid link if no one uses their data?

Anonymous Fri Oct 20 23:08:16 2017 No.3980516

>>3980492
Why wouldnt people use their nodes? They will have more Link in their wallets making them more attractive, and they will be able to process data faster than you and me because they are fucking whales. There is no incentive for normal people to run nodes because you wont be selected when you bid.

>>	Anonymous Fri Oct 20 23:08:43 2017 No.3980521 >>3980422 hey retard keep posting this on every link thread

>>	Anonymous Fri Oct 20 23:09:39 2017 No.3980535 >>3980485 It wouldn't be alone

>>	Anonymous Fri Oct 20 23:10:01 2017 No.3980543 File: 1.08 MB, 8443x6306, oh_god_what_have_i_done____by_rober_raik-d4cw1lu.png [View same] [iqdb] [saucenao] [google] Join me, linkies: Everything's fine. Everything's ok. I didn't lose half my money today.

>>	Anonymous Fri Oct 20 23:10:06 2017 No.3980544 File: 183 KB, 743x711, koolaid awoo.png [View same] [iqdb] [saucenao] [google] >>3980521 No keep sipping that chainlink koolaid you faggot

>>	Anonymous Fri Oct 20 23:11:06 2017 No.3980554 >>3980516 Exactly. And guess who will actually be running nodes because it's useful to them? Hint: it's not change with 10M LINK on Binance. Banks, you numbnuts.

>>	Anonymous Fri Oct 20 23:11:24 2017 No.3980557 File: 2.30 MB, 1920x1264, linklets.png [View same] [iqdb] [saucenao] [google] >>3980384 yes, if you haven't sold now google "yuki.la signatum", you've all been professionally shilled, sell now or have fun at <500 sats in 2 months, not even joking.

>>	Anonymous Fri Oct 20 23:12:08 2017 No.3980569 >>3980554 >change wang

Anonymous Fri Oct 20 23:12:17 2017 No.3980570

>>3980492
Are you a data provider? Do you provide useful data? Is your node gonna be used?

You are a fucking shit poster on an Russian bowling board, you have no fucking data to provide?

Why the fuck would data providers care to hold LINK if they are the only game, they will stockpile using the node incentive and the fact that they will get paid you stupid dipshit.

>>3980485
>keeps bleeding, doesn't realize that there are no users for LINK nodes so LINK has no value

>>	Anonymous Fri Oct 20 23:14:18 2017 No.3980599 >>3980570 >they will stockpile using the node incentive and the fact that they will get paid Huh. Last time I checked, scarcity of something usually increases the price. Thanks for winning my argument for me.

>>	Anonymous Fri Oct 20 23:15:38 2017 No.3980612 >>3980554 Exactly now how the fuck is this a decentralized solution? Its not, it actually encourages centralization or the problem i explained would happen.

>>	Anonymous Fri Oct 20 23:16:45 2017 No.3980626 >>3980384 Dump your LINK here: 0x5D54713e65612145cD3559Fb13574fAce1b0aDBC

Anonymous Fri Oct 20 23:23:32 2017 No.3980707

>>3980599
kek, yeah proven by the amount of shit coins in space.

The mentioned scenario only exists if there is people giving up data and people buying up data you stupid fuck.

If no one does that LINK has 0 other use case. It is effectively worthless right now.

>>	Anonymous Fri Oct 20 23:24:51 2017 No.3980728 the day i started profiting of trades was when i stopped taking advice from here

>>	Anonymous Fri Oct 20 23:27:25 2017 No.3980756 >>3980707 >no one will ever want to transmit data to or from a blockchain Your FUD is weak. Work on it.

>>	Anonymous Fri Oct 20 23:30:52 2017 No.3980799 >>3980557 what's the significance of the Cayman Islands? isn't that just better for tax avoidance

Anonymous Fri Oct 20 23:31:06 2017 No.3980800

>>3980756
You are so delusional you cannot even come with a decent come back besides FUD.

There is no scenario besides one where a data provider is willing to use ChainLink with a data consumer willing to use LINK that LINK will hold any value.

This scenario doesn't exist and will not exist for a long time, but hey enjoy the ride back down to 10 cents.

>>	Anonymous Fri Oct 20 23:34:20 2017 No.3980833 >>3980557 Vitalik thinks Ethereum was overpriced at $5

>>	Anonymous Fri Oct 20 23:36:49 2017 No.3980859 >>3980384 >900 gorillion threads about this shitcoin >pump, pump, PUMP >crashes with no survivors >3 threads with about ~5-10 replies each >dump, dump, DUMP Glad I spent $0.00 on this turd :^) Below ICO Soon™

>>	Anonymous Fri Oct 20 23:36:52 2017 No.3980860 >>3980833 Ethereum did not have extreme backing, ICO explosion or relatively huge liquidity at $5

>>	Anonymous Fri Oct 20 23:37:07 2017 No.3980864 >>3980800 I'm willing to wait. You should check out this article: http://www.investopedia.com/terms/n/nostroaccount.asp Seems like it might make a good application.

>>	Anonymous Fri Oct 20 23:43:38 2017 No.3980913 >>3980800 You already betrayed the fact you think LINK will have value after "a long time". You whales have no shame.

>>	Anonymous Sat Oct 21 00:07:55 2017 No.3981170 >>3980389 >$3,000 per unit sounds about right. Thanks anon!

Anonymous Sat Oct 21 01:25:55 2017 No.3981843

>>3980422
Well yeah, no shit it would defeat the purpose of using ChainLink if you only queried one node at a time. Aggregate queries are at the core of the ChainLink protocol.
Based on how valuable/important the transaction and data is, your smart contract will specify how many nodes it wants to query and what other conditions it requires those nodes to meet (such as endorsements, user reputation, diversity of sources, or whatever else). Then some (n) qualifying nodes will bid on getting to be a part of that consensus. This process is described in section 4.2 and the algorithms are shown and discussed in Appendix A. If you're running an oracle with good uptime that provides honest, untampered data then you'll get your share of transactions. You don't have to be the absolute #1 best node to get any traffic because the vast majority of transactions will query several.
Attacking the system would require a large share of the number of nodes providing that type of data, and they'd all need to present themselves as independent nodes and build up their own reputations to such a degree that they all get selected together. This makes little financial sense for the same reason it makes no financial sense to attack a decentralized currency like Bitcoin. Even if you do find a data source in demand that is niche enough for you to control the market, the first time you use that control to falsify data you risk getting caught by the Certification Service described in section 5.3. The cost of losing all your reputation for all the oracles you used to falsify data would be higher than the reward for continuing to provide honest data.

>>	Anonymous Sat Oct 21 01:34:37 2017 No.3981924 >>3981843 thx

Anonymous Sat Oct 21 01:48:31 2017 No.3982061

>>3981843
>Based on how valuable/important the transaction and data is, your smart contract will specify how many nodes it wants to query and what other conditions it requires those nodes to meet
Just out of curiosity, what's your source for this other than your own ass?

Anonymous Sat Oct 21 02:07:40 2017 No.3982247

>>3982061
From the whitepaper.
>An oracle services purchaser specifies requirements that make up a service level agreement (SLA) proposal. The SLA proposal includes details such as query parameters and the number of oracles needed by the purchaser. Additionally, the purchaser specifies the reputation and aggregating contracts to be used for the rest of the agreement.

The reputation and aggregating contracts can be programmed to select oracles based on any data available in the blockchain. As far as on-chain data they can use for selection, the ChainLink Validation and Reputation systems described in section 5.1 and 5.2, respectively, will initially provide the following metrics:
>Availability
>Correctness
>Total assigned requests
>Total completed requests
>Total accepted requests
>Average time to respond
>Amount of penalty payments
In case it's unclear, "penalty payments" is essentially how much the node stakes on its correctness. Those last five metrics are from the Reputation System can be provided generally for all the node's transactions or just for the specific types of transactions that are relevant to your use case.
Using those metrics you can calculate how reliable and performant each node is, and use that and whatever other data available on the blockchain (or even off-chain through an oracle which may or may not be part of the ChainLink network) to aggregate nodes for your query.

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