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/biz/ - Business & Finance

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52430706 No.52430706 [Reply] [Original]

>Changpeng “CZ” Zhao confirmed that Ethereum creator Vitalik Buterin would build a “proof-of-reserves” protocol

>> No.52430786

>>52430706
I don’t know what oracles are, I never read the chainlink whitepaper, and I sure as hell don’t know how proof of reserves work. I bought 10k links in 2017, and I’m just going to call you a faggot and that’s that. Is that good enough?

>> No.52430806

The WEF token is not needed

>> No.52430878

>>52430706
Most of binance's reserve assets are probably onchain...

>> No.52430888

It's beyond a joke at this point.
I'd be interested to know what he didn't like about LINKs solution though. Maybe it was just too transparent. These are CEXs after all. It's trendy to have "proof of reserves" right now but that doesnt stop a CEX being a CEX. they dont want full disclosure at the end of the day and im betting Chainlinks solution just shows more than CZ wants.

So he can "work" with Ethereum and create whatever he wants. It'll be transparent in the places that dont hurt.

>> No.52430921

Who gives a fuck about PoR. Swift will soon use Chainlink to secure quadrillion dollars

>> No.52430956

>>52430921
>0.000000001 LINK has been deposited to your account

>> No.52430958
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52430958

>>52430706
remember uniswap oracles?

>> No.52430965

>token not needed
>everyone is suddenly trying to build a LINK competitor

Hmmm.

>> No.52430980

>>52430706
“We build things that are so good they end up being the industry standard”

FUCK YOU,YOU FAT PIECE OF SHIT

>> No.52430998

>>52430706
>>52430888
chainlink not needed

>> No.52431011

I genuinely think LINK, ETH, and BNB are the 3 best holds going forward. It’s clear CZ doesn’t fuck around and will pump that shitcoin to Andromeda

>> No.52431017

this will meet the same fate as Vitalik's Uniswap oracle proposal.

>> No.52431033

>>52430958
CZ is the real deal. I bought LINK in 2017 but even I'm getting the impression that it's over soon.

>> No.52431118

>>52431011
RLC too. CZ is pals with gilles

>> No.52431260

>binance builds own proof of reserves
>no one trusts it
and walla they bring on chainlink instead its literally that ez

>> No.52431334

Just Tezos and chill

>> No.52431518
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52431518

>ah yes hello sergey. we heard about your proof of reserves product. we want to use it. what will that involve?

>sergey: right, so we need you to provide your wallet addresses, and some liabilities to verify it all on chain
>all the wallets? um, what about just these ones? can we skip some?
>sergey: well, that kinda defeats the purpose
>awkward silence
>exchange: hey vitalik can we build a proof of reserve but only include wallets and information we choose?

>> No.52431617

>>52430786
/thread

>> No.52431688

>>52431518
Bingo. No one wants a real proof of reserve. They just want a market where number goes up, so they can exit before number goes down fast because of rats. This is a reminder that the entire crypto space has been overtaken by grifters who see it as a quick buck rather than the true battle for decentralization and a frictionless world. It’s sad to see that the only people looking for any kind of innovation and improvement in the world are the folks at Chainlink, even though they are trying to create a monopoly on all things crypto by using a decentralized network.

>> No.52431716

>>52430806
/thread

>> No.52431719

>>52431688

I can see Dexes and Defi products using it, but i dont see any CEXs using it. Why would they?

They probably think it opens them up to being attacked by having everything on chain and visible.

>> No.52431810

>>52431518
>mental illness: the post
Where’s link’s proof of reserve?

>> No.52431869

>>52431810
https://chain.link/proof-of-reserve

>> No.52431940

>>52431869
I said link’s proof of reserves. Where can we see what reserves Sirgay has.

>> No.52432022

>>52431940
We don't talk about price

>> No.52432067

>>52431719
It exposes them for misusing customer funds by chasing fraud yields offered on other CEXs who in turn are doing the same until you get to the top of the waterfall at which point you notice that they’re actively shorting the market because once again all that is being offered is fake yields and promises of expectional returns. In simple terms, it was a ponzi up until last week. And if they want to run it back, then they offer their own version of a proof of reserve at their own discretion.

>> No.52432088

>>52432022
>the company that shills proof of reserve doesn’t use it itself
trustworthy

>> No.52432197

>>52431940
https://chain.link/circulating-supply

>> No.52432200

Why don’t they just automate a hash protocol that augments each transaction’s syntactical oscillation with a internal transect p-bound unique identifier that queries with a real-time database coin framer? This kind of paradigm quencher would solve at least half the issues plaguing blockchain algorithms and proportional diameter-input relief conjugations which are just a band aid solution that is taking us into the deep end.

>> No.52432220

>>52432197
https://blog.chain.link/sustainably-growing-chainlink/

>> No.52432296
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52432296

holy shit vitalik really hates sergey, i wonder what happened to let it come to this.

>> No.52432302

How is vitalik going to whip up a proof of reserve protocol when there are multiple blockchains other then eth on binance? Sounds like some chinked up mistranslation

>> No.52432337
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52432337

>>52430878

>> No.52432359

>>52432197
>>52432220
>trust us bro
not a real evidence, stop coping.

>> No.52432415

>>52432337
Fiat btfo

>> No.52432426

>>52432296
https://www.youtube.com/watch?v=9v2UA0nFLdI

He's quite simply Mandark to Sergeys Dexter.

>> No.52432459
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52432459

>>52432359
YOU CAN SEE THE WALLET ADDRESSES, YA RETARDED FAGGOT

>> No.52432723

>>52432426
you have to be 18 to post here kiddo

>> No.52432752

>>52430706
HUGE news.

BUY BNB

>> No.52432794

>>52432200
This. It's so simple. How have we been so blind.

>> No.52432892

>>52432723
pretty sure that reference means hes about 25.

>> No.52432916

>>52431940
it's a private company and isn't providing custody of any assets?
would not be a good idea to give that info

>> No.52432987

>>52430706
You should compare CZ to JP Morgan.
He is trying to eat all the crypto space and own everything.
Chainlink is his biggest competitor and most dangerous foe.

Nexo, Celsius and FTX have been heavily shorting Chainlink using user funds because it didn't have staking and was free money to steal, but Binance also did funny things before FTX was created.

CZ is trying to bankrupt Chainlink in order to "save them" and own the project.
The Binance oracle is a proof of this attempt and his desire to extract maximum value the FTX way from the future oracle narrative.

CZ's fud timing was perfectly timed to prevent the Chainlink breakout once more and a prepared fud article came out with the perfect timing when that happened.
The paid shill making fud on Chainlink was certainly not working for Sam in that case.

>> No.52432991

>>52430706
>CEX CEO claims to get help from a man eho hate CEX's.
Makes sense

>> No.52433008

>>52431011
Checked. Is BnB a buy? I'm thinking of dcaing xmr and want another coin that's not ETH or btc

>> No.52433023

>>52432794
Are you being facetious?

Listen, while you were sucking your mom's tit and playing script kiddy, I was taking early hybridized amphetamines, staying up all night hustling salarymen in Tottori arcades, dodging cyber narcs, and breaking deep ICE as a black hat merc for the Yakuza or whoever else had the credits. Ever been up for 4 days straight trying to fence RAM over IRC with a cutting edge 14.4k that wasn't even available on the market for another 3 years?

>> No.52433024

>>52432991
*who

>> No.52433043

>>52430706
Does Vitalik even build shit anymore? Sounds like they picked him because he's the most trusted face in crypto. Which says a lot about crypto if you think about it

>> No.52433049

>>52430786
based

>> No.52433127

How do I join the Chainlink token cult? Can someone post the discord invite

>> No.52433153

>>52431011
ETH and BNB are overvalued relative to strong alts, Been that way for almost a year

>> No.52433190

>>52432916
>Much like people check whether or not a DeFi project uses Chainlink price feeds, we should be checking how ANY PROJECT OR COMPANY, Web2 or Web3, can prove that it has sufficient funds
^^ I'm sure you'll hop on the official Chainlink discord then and tell their Community Manager that she is wrong.

>> No.52433255

>>52433008
check the bnb/eth and bnb/btc pair, that boat has already sailed unless you believe bnb can flip eth

>> No.52433279

>>52433043
Vitalik never buult in the first place, the first version of eth and EVM and solitidity were made by gavin wood, vitalik only made a mockup chain in javascript, however, hes a genius in designing the grand scheme of things, kinda like kojima is for videogames, always an "idea guy"

>> No.52433281

>>52433023
underrated

>> No.52433303

>>52433190
are you a non-native speaker?

>> No.52433351

>>52432723
Look at the year gramps, you're getting fucking old.

>> No.52433357

>>52430706
I wonder why CZ didn't say his BUSD was already using Proof of Reserves?
https://paxos.com/2021/01/14/paxos-adopts-chainlink-oracles-to-further-adoption-of-pax-and-paxg-in-defi/

>> No.52433384

>>52433303
No, point out the grammatical error in my statement

>> No.52433398

>>52432302
High IQ post

>> No.52433495

>>52431033
This. We are entering year 6 and virtually nothing is happening. Proof of concept vaporware and whitepaper memes aside, staking is launching severely nerfed and the token is $6. Sorry, not impressed with Sergey's performance as a CEO

>> No.52433554

>>52433351
>>52432892
watching cartoons is for children. have sex incels

>> No.52433600

>>52432987
The giant wave of fud today definitely sounds like Chinks. You can tell by their soulless argument style. As long as Sergey keeps his mouth shut it’s literally impossible for them to “copy chainlinks code”. He has five years of reputation and experience with the system. Cz little chinky winky haha

>> No.52433794

to put it simply: no one wants to depend on a solution offered and secured by a minority, pump and dumped, low float altcoin link link

>> No.52434902
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52434902

>>52430998
It's not just not needed. Sergey actually had a good concept, but his fat ass is so slow to develop that his first mover advantage was wasted. CZ poised to take the market that bizrealis hoped Chainlink would take.

>> No.52435088

>>52431033
>>52433495
I agree fellow link holder, this is truly making me fearful and I'll market sell my link tokens (ticker: LINK) on market. I advise anyone reading to do the same

>> No.52435126

>>52430786
This man is too based to be left alive.

>> No.52435185
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52435185

It's going to be a blatant 1:1 plagiarism of Sergey's code and Linkies won't be able to do a damn thing

>> No.52435353

>>52435185
which nodes will run the code for this new decentralized oracle network?

>> No.52436393

>>52432337
>never use a token you created as collateral
>58m bnb

>> No.52436987

>>52432359
But you don't have to trust them. You can look at the addresses yourself. If you weren't a complete fucking idiot you would understand this. So are you just here in bad faith or are you actually too dumb to understand?

>> No.52437373

>>52430786
Holy based

>> No.52437391

>>52436393
he would probably say those are user deposits. it will be unknown until a real proof of reserves protocol is instituted.

>> No.52438613

>>52436393
just cuz there are 58 mill bnb on binance, doesnt make it serve as collateral for anything unless proven otherwise, which would definitely get out pretty fucking fast given what happened with ftx

>> No.52438617

how do you make the cult members whose brains you filled with loes commit sudoku?