/biz/ - Business & Finance

It's unironically oger
Sold 100k
Switching to REQ for higher returns

WE ARE ALL IN THIS TOGETHER

DO NOT UNDER ESTIMATE THE POWER OF POSITIVE THOUGHT! ESPECIALLY COLLECTIVE POSITIVE THOUGHT!

THIS SHIT IS GOING TO REACH $1,000 EASILY!
HOLD THAT THOUGHT AND VISUALIZE IT IN YOUR MIND EVERYDAY AS OFTEN AS POSSIBLE STARTING NOW AND IT WILL MANIFEST INTO REALITY. DO IT! I'M NOT JOKING!

VISUALIZE AS OFTEN AND AS DETAILED AS POSSIBLE!

>>10823319
This made me thinking

>ctrl+f chainlink
>0 results

>>10823319
At least we can use this to FUD our own coin

>>10823319

i just dump 1000 i will buy zilliqa the future of sharting

>>10823348
you are a MANIAC

>>10823319
Looks like a fixed rate bond so no need for an oracle to provide interest rate data for fixings.
Article doesn't state as to how they're going to use the blockchain in order to make the coupon payments, probably decided to do this manually. So all they've really done is the bookbuild on the blockchain, they're missing the actual transaction processing section. A good first step, but they've only partially incorporated blockchain into the bond process.

>>10823456
>23456
Checked

How do we know they didn’t fork the code to test on? Also, wouldn’t the need to connect to the outside world using link? Also how do we know they would use the link token in their internal processes, especially if chainlink team gives them so many tokens? Wouldn’t them usina private network still bring traffic to the network?

>>10823319
>the SWIFT messaging network is attacked from the outside, this is what they need to protect from. They can trust each others and will trust each other's nodes in the private network provided by the ChainLink team.
That's exactly what I've said many times. Lack of trust between banks/companies isn't an issue, it's all about outside bad actors. I doubt SWIFT will use random nodes and pump our bags in the process but I do believe that smaller players will go for the random node selection.

>>10823702
If I had enough to never work again I wouldn't wagecuck a single day even if they wanted to pay me 1m/year. After a certain amount, more money doesn't change that much and my free time would be worth more at that point

Legit FUD. This has got me thinking. Makes total sense. In what world was Swift gonna use a public system.

STOP FUCKING BUYING

>>10823702
Would they still use the link token even if they use their own nodes since they contract still has two parties and so those parties would pay for the token which is like a small over head cost of getting correct data. This payment would go to SWIFT since they are running the node the transaction is on.

>>10823941
if big companies interact with eachothers' nodes they can set up IRL deals how they go about the node running costs without using the token.

I'm sure smaller customers will use the tokens but I doubt big institutions will care about it.

>>10823969
What if those big institutions have a large supply of the network and run nodes that continually make money off the network also while having trust? The team is still holding 650 million tokens that are supposed to be used to subsidize the network. What if each bank in the network stakes tokens and use some as collateral and swift profits of each of there transactions?

>>10824033
well that's technically possible but we are assuming they will start another side-business by running nodes for anything beyond their own needs

I remember someone saying that before starting and ico Sergey wondered if the tokens themselves would be enough of an incentive to get the network going, so I'm sure he's thought this back and forth and has a solid plan to make sure there is a steady price growth to keep everyone happy and motivated

>>10823456
dude... SO ARE YOU
you are in every fucking thread saying the exact same shit

"the definition of insanity is doing the same thing over and over and expecting a different result"

>>10824082
My arguement would be that in order to stay relevant they might need too. I know right now they are fine and this would take time, but taking advantage of something like this now could keep their business model sustainable into the digital/peer to peer technological age. Why even need banks in the future. They could set up the most powerful node structure, especially since they will have a huge head start advantage and are being handed this on a silver platter by sergey.

>>10823319
Listen, it sounds like you are still struggling to understand the value of a decentralized, trustless ledger.

A monk was once confused about blockchain and approached the master Joshu to better understand.
"Master Joshu, wont banks just use their own blockchain?"
And master Joshu beat the student to death with a bamboo stick. But just before his skull was caved in, at that moment he was enlightened.

Please Jesus Christ let this be just really good FUD.

If this fucks link im going cage diving with great whites and opening the cage and letting myself out.

>>10824134
Also, Sergey does talk stongly that banks need to get their systems ready for what is coming with dlt and blockchain technology. I think he knows this is very important for banks to address and use if they want to be around long term in some form of power capacity.

>>10824236
Im afraid what OP says makes total sense. Our fate is in sergeys hands, if he makes them use the token we've made it, if he agrees to build them a private network we'll swim with the great whites. Insallah

>>10824347
To build is an overstatement, it would be a fork of the public network, a few clicks and it's set. We might have a nightmarish scenario unfolding here, a shadow fork by Sergey himself. Satoshi=Sergey=Jason Parser

>>10823319
Centralized oracle service makes no sense when the aggregate value is a few hundred billion you’ll have a security at the edges problem. Actually I’m just repeated what I’ve read verbatim. Im really just a brainlet who thinks smart contracts could change the world but not understanding the technicals of exactly how

>>10824401
that's why I believe Sergey wants to allow anyone to choose nodes manually if they want to. That way they wouldn't be forced use the tokens and neet nodes but at least they would still be using the same network/product/name which is better than have companies waiting for the product to be finished and fork it for free while the devs did all the work and everything was funded by the ico participants.

This is a valid concern for every project out there, not only CL. That's why I think it's a good idea to use the tokens and give them to large customers/node operators as an incentive to get the network going in the early stages and make it popular.

>>10824512
Usually people don’t treat things very well if they’re given it for free hopefully this isn’t the case.

>>10823764
What is an intranet.

>>10824401
Forking the network makes it more centralized and you might as well just trust the source and not even use Blockchain in that case honestly.

>>10824534
Possible to have an intranet within the general public oracle network?

>>10824526
They are not the one maintaining the network, the link team is. SWIFT is just using it to stay relevant and make money.

>>10824537
They trust the source. They use blockchain to automate the contracts. The argument here is 11.000 banks each running a node is decentralized enough in a case where they all benefit from an honest network

The whole point is decentralization. What is so hard to understand, people? You want to use a wide variety of nodes in order to prevent malicious actors from having enough influence to fuck you over.

You will want to use 'trusted' nodes and random nodes in order to strengthen your oracle. You obviously are not going to give the random nodes as much authority as the 'trusted' nodes, but the whole fucking point is decentralization.
You might think, why wouldn't I just use the trusted nodes? Because what if the 'trusted' nodes become compromised? If all of the nodes are connected on the swift network, there exists an element of centralization that serves to compromise what you are trying to achieve - trustlessness.
What you want is a vast and wide variety of nodes so that no one actor has the potential to influence the info flowing through the oracle. All of this fucking fud is so weak. Ya'll have no idea what the future has in store. This is SWIFT dipping it's pinky toe in the water, but chainlink is literally the future.
You are all such fucking children. Stop fucking around and get ready to hold link for the long haul.

READ BETWEEN THE LINES PEOPLE
Last year scared the banks SHITLESS. Everyone thought crypto was dead after mtgox, but last year proved that crypto literally cannot be stopped.
The banks NEED your money to survive. If everyone started using crypto for their banking needs, the entire fucking financial system would collapse. They absolutely cannot have that. This is either adapt or die for the banks right now. They HAVE to start getting in to crypto, or they will literally go the way of the dodo. In the next 10-20 years the whole financial system will get an overhaul. Ya'll have absolutely no fucking idea.

>>10824978
I want to believe too. Full delusion, God speed anon

>>10825052
Some next level delusion, psychosis tier, congrats on that, seriously, God speed anon. I hope us madmen will make it

>shadow fork fud

>>10825111
>holding LINK
>not having some kind of psychosis
not gonna make it

>>10824105
>he thinks it's the same two people posting it in every thread.
That's cute.

>>10823969
If companies were to use each others nodes then there's no point in ChainLink, and they could of set up their own oracles years ago.
They're waiting on Chainlink and the network of nodes for a reason, it's decentralised.