[ 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: 225 KB, 1150x1202, 3dq1w.jpg [View same] [iqdb] [saucenao] [google]
14605838 No.14605838 [Reply] [Original]

Link is a solution looking for a problem (that's already been solved without the need for your E-ponzi meme tokens)

https://medium.com/@gertjaap/discreet-log-contracts-invisible-smart-contracts-on-the-bitcoin-blockchain-cc8afbdbf0db

>Any situation where funds need to be divided based on an external future value can be enforced using Discreet Log Contract technology. Any value that an oracle can produce can be used in forming these kinds of contracts. For instance, you could create an insurance contract that automatically pays out a claim based on a value (weather data, flight delay data) that comes from an oracle. If an oracle would announce the country that won a world championship in any kind of sport, you could facilitate a simple betting contract based on it.

>Alice and Bob both commit funds to the log contract, but its appearance on the blockchain will be no different than an ordinary multi signature output. Therefore the contract is discrete in the sense that no external observer can learn its existence or details from the public ledger.

>Oracles are not aware of the contracts or people using its data, they independently publish their signed messages according to a preset schedule. These signatures are incorporated into the contract by Alice and Bob, without the oracle being aware of them using it.
Because the oracle is not aware of specific contracts using the data, it is not able to decide the outcome of a specific contract. This is an important difference from a situation where the oracle is the third party in a 2-of-3 multi signature setup.

>> No.14605950

linkers thoroughly pissed and stinking and btfo

>> No.14606001
File: 799 KB, 750x563, lunch.png [View same] [iqdb] [saucenao] [google]
14606001

Wow thanks OP brb selling 100k

>> No.14606022
File: 57 KB, 640x800, 1559997698980.jpg [View same] [iqdb] [saucenao] [google]
14606022

>>14605838
You do realize the only reason all the big data companies are so hype about CL is the ability to monetize their oracle's data....right?

Smartcontracts taking makework soi jobs from dumb nigger no-linkers like you is just a side benefit to keep the jew bankers on board.

Good luck finding a free, reliable data source in 2 years faggot

>> No.14606038

Yeah discreete log contracts are the actual right way to contracts based on oracles. Most people in crypto academia agrees with this.

No need for a token.
No need for a "network".
Complete privacy.

It's going to be hilarious when stinkies figure out their project was obsolete before it was even deployed.

>> No.14606066

Oh no more FUD posting from incels

>> No.14606080

>>14605838
>medium

>> No.14606082

Jesus fuck thank you OP, just cashed everything out.

>> No.14606093

how are the oracles incentivized

>> No.14606096

>alice and bob create a contract without an oracle
>then they use the oracle to get a correct information without the oracle knowing any of this
>then bob and alice input the data into the contract
lmao what is this?
why the fuck would i even use blockchain if me and alice can write up a agreement on a fucking piece of paper (deploy the smart contract) then google the answers (my oracle that's been around since 90s) and then its still me and alice that have to input the data into the contract for results?
im sorry this is shit

>> No.14606144

Thanks anon. Just sold out my stack at $3 just to make sure it would go

>> No.14606170
File: 48 KB, 715x715, 44238542_1916118642024366_1275202300158692437_n.jpg [View same] [iqdb] [saucenao] [google]
14606170

>>14606096
Dont forget you need a sig/key for every possible variable or combination for whatever you're contracting against (aka infinite plus decimals for most). Or else it doesnt work and lets the loser hold funds hostage.

>> No.14606200

>>14605838
ENG is solving this for Ethereum contracts anyway. FUCK LINKIES

>> No.14606234

>>14606093
This is like asking how is bloomberg incentivized to publish the correct price of gold on their website. It costs them nothing to do it and they stand to lose reputation if they publish the wrong thing. Remember the oracles have no idea about any of the bets being made.

>>14606096
>its still me and alice that have to input the data into the contract for results?
No. Given the oracle's signature, one of the transactions spending from the funding trransaction becomes valid. The parties can then broadcast that (and only that) transaction. Blockchain observers have no idea that any of this has happened but the result is enforced cryptographically.

>> No.14606321
File: 37 KB, 789x233, kek.png [View same] [iqdb] [saucenao] [google]
14606321

Just buy back in OP, you tried to swing and you lost.

>> No.14606364
File: 504 KB, 955x1400, 1561914094478.jpg [View same] [iqdb] [saucenao] [google]
14606364

thanks OP just sold everything

>> No.14606382

>>14606321
This. Lolled so hard at op's bread

>> No.14606395

>>14606234
>it costs them nothing to do it

>> No.14606401

thanks OP but next time remember to dilate before making nigger tier threads

>> No.14606430

>>14606401
Dilating is a key component missing from op's side here. Other than that 10/10. Good laugh

>> No.14606595

>>14605838
does it work? sounds fabulous

>> No.14606654
File: 248 KB, 680x528, 1536470731325.png [View same] [iqdb] [saucenao] [google]
14606654

Uh oh, pissed stinkers itt yet not a single refutation in sight. Just face it, link serves no purpose, and you smug fucks are crashing straight to shitcoin hell with no survivors. Your days of collectively shitting up this board have ended. Get absolutely fucked

>> No.14606684
File: 885 KB, 256x512, 1551451438144.gif [View same] [iqdb] [saucenao] [google]
14606684

>>14605838
Guys remember to repost the pasta on reddit. You can never FUD reddit enough.

>> No.14607050

https://youtu.be/2VAPotcB9Dc?t=888
holy shit. LINKIES
LOL

>> No.14607077

>>14607050
well, he said that "it could sort of revert", so it's not actually probably exactly the same
good video, by the way.

>> No.14607108

>>14605838
Eat shit Richard

>> No.14607431

>>14606234
Bloomberg is centralized, retard. Nothing stops me from spoofing data to a centralized oracle oracle and getting the money from the contract. That’s exactly what happened last week, the retards got robbed via fake data feed.
For an Oracle to be safe it has to be decentralized and for it to be decentralized you have to pay me money to run a node.

>> No.14607462

>>14607431
you can have more than 1 oracle.
>>14607050

it's honestly fucking fantastic. Why am I only hearing about this now

>> No.14607540

>>14607462
It doesn’t matter if you spoof the data feed, retard. You don’t even know what link does, and obviously never read the whitepaper, opinion discarded.

>> No.14607585

>>14607540
What the fuck are you even talking about? Of course it matters. If 1 of 2 or 3 oracles is going nuts, then the deal is off. That simple

>> No.14607622

>>14607585
LINK IS A CONSENSUS OF MULTIPLE ORACLES TAKING DATA FROM MULTIPLE SOURCES READ THE FUCKING WHITEPAPER RETARD

>> No.14607647

>>14607622
Yeah, and it's obsolete now. lol

>> No.14607741

>>14607647

Yeah, buy RLC! It made Link obsolete

>> No.14607742

>>14607647
Lol k. The author of the link whitepaper is the professor of the guy in your video. He‘s literally explaining the simplified centralized version of LINK

>> No.14607804

>>14607742
what's his name?

>>14607741
this is on bitcoin....

>> No.14608028
File: 692 KB, 1280x868, Satoshi.png [View same] [iqdb] [saucenao] [google]
14608028

>>14605838

It is already patented.

Bitcoin Core can use my patents, for the right price, of course.

They can always run another airdrop to fund it.

Don't like it? STIFF BICKIES.

>> No.14608235

>>14607804
>doesn't know who the demigod ari juels is
Wew lad

>> No.14608408

>>14608235
Also OP is a faggot as usual, the oracle problem still presents itself with this sort of smart contract so...buy link?

>> No.14608430
File: 392 KB, 434x630, file.png [View same] [iqdb] [saucenao] [google]
14608430

>>14606654
thanks
just sold
100k

>> No.14608545

>>14605838
Damn I just sold my stack. Fuck I truly thought link could do it but apparently not. On to the next one I guess

>> No.14608961

>>14608028
Based

>> No.14609004
File: 82 KB, 400x350, chain.png [View same] [iqdb] [saucenao] [google]
14609004

>>14605838
>>14605950
>>14606001
Attention dear (((market makers))), I have an announcement to make:

*AHEM....*

I

AM

NEVER

FUCKING

SELLING

&

MY

LINKIES

STAY

SUPER

STINKY

IN

COLD

STORAGE
-----------------------------------
N E V E R S E L L I N G

E

V

E

R

S

E

L

L

I

N

G

>> No.14609031

>>14605838
>contracts on Bitcoin sweet
>oh they're talking about BTC

God I hate this shitcoin much.

>> No.14609124

>>14607431
>for it to be decentralized you have to pay me money to run a node
Wtf does that have to do with LINK? I'm so sick of shitcoins. If you need a product or service pay in Bitcoin. People who believe in "tokenomics" need to fucking kill themselves.

>> No.14609268

>>14609124
You can pay in Bitcoin or any currency to use the Chainlink network dipshit. The network itself runs on the Link erc-677 token that transfers and calls data. The purpose is collateral if you fucking took the time to read even one paragraph of the whitepaper. Fucking retards

>> No.14609313

>>14609268
It's required to use the link token to use link. Which is nigger tier economics when you could just use Bitcoin.

>> No.14609544

>>14609313
Are you talking about BSV? They literally copy centralized weather data to the blockchain and that's 98% of transactions. We are talking about how to get data onto the blockchain in a decentralized way to make sure nobody can tamper data going into smart contracts

>> No.14609652

>>14609544
>one app produces a flood of transactions

Two gigabyte blocks coming EOM. Can you imagine how many apps there will be then? My body is ready.

>> No.14610155
File: 40 KB, 650x650, 1522086497290.png [View same] [iqdb] [saucenao] [google]
14610155

>>14609004
You'll come to regret your delusion. Hourly reminder that I will NOT buy your bags

>> No.14610196

>>14609004
This isn't funny Rajesh.

>> No.14610241

>>14606038
>It's going to be hilarious when stinkies figure out

None of them have any programing knowledge whatsoever. They don't understand anything about tech. The whitepaper doesn't even mention how decentralized oracles are even going to happen, as such, they still don't exist and they never will because that fat scammer russian has never actually delivered a project. He had like 2 fizzled out projects that never worked. Serial wantrepreneur pumping out failure after failure because he doesn't understand tech either.

>> No.14610298

>>14607622
The whitepaper says nothing about how it will make this system work. The whole point of a whitepaper is to explain crucial parts of an idea. Sorry you got scammed.