/biz/ - Business & Finance

read thoroughly and sold

Just dumped 250k link.

>>14783330
That's very true. Actually, there's a general consensus on biz that chainlink is a scam.

First oracles are banks and insurance companies doing hard-to dispute cases.

No need to expand to wonky areas for first five years.

Thanks just dumped 100k

>>14783330
another tranny thread and another pathetic attempts to fool retarded nulinkers. Just dilate you fucking nigger trannies and never ever write again

>>14783330
Yes Link is a scam sir.
Do the needful and buy LIT/FLO/NKN/NUKE/whatever other shitcoin is shilled by discord groups here sirs.

>>14783330
>chainlink doesn't solve the problem it's solving

>>14783396
>discord tranny

You linkies really don't have any other response to criticism besides name calling. No mention of the tech. Just names. Pathetic

But what better should one expect from a group that worships a fat fuck who spends his company's money on McDonalds?

>>14783396
Fud only works on people who have zero clue about the financial environment of the world functions.

>>14783685
Discord tranny detected.

>>14783330

1/2
A while back there was a clip that cirulated where a bitcoin maximalist said something to the effect of "if someone were to solve the oracle problem, it would be worth more than all of crypto"


He then went on to give the standard counterargument that sybill attacks fundamentally prevent resolution of the oracle problem.


He was almost right


Here's the reality: in isolation without external factors this is correct. Put differently: if all of crypto was created de-novo and no data/api providers existed before the advent of chainlink, there would exist an equilibrium at which sybill attacks would be more profitable than delivering quality data or outputs. If this was the case, there are ways of breaking this state, but they involve exchange of value first in a non-deterministic manner and then using the experience from that to bootstrap an oracle network.


Fortunately, before crypto the world did exist. This led to trust systems being developed to reign in this situation (lawsuits, word-of-mouth reputation, the value of name recognition) in a world of non-deterministic interactions. For chainlink this is an absolute blessing.


The entwork will launch with actors providing APIs and data that are linked to their real-world names and practices. This means that even outside of the sybill equilibrium, there will be significant pressure to have high quality inputs and outputs. A bank can't expect to keep its good name if it makes a habit of screwing its smart contract customers while keeping good practices with its standard customers.
So what follows logically from this? The initial network has to tap into this entropy of trust left over from the non-deterministic world. In other words, it can't be decentralized initially unless the network wants to go through a growth period where bad behavior is actually game-theory optimal (with asymptotic approach to trustworthy behavior).

>>14783330
didn't read not selling

>>14783771

oops 2/3

Human beings being what they are, such a period would sour people against the use of smart contracts if they could be scammed early on, even if they were safer than conventional alternatives.


For an example of this look at common perception of bitcoin. It has provided 24/7 value transfer at discount rates since its launch 10 years ago. During that time billions have been transferred without loss. On top of that it has increased in value from less than a dollar to over a thousand dollars. Any stock, bond or precious metal that did that would be hailed as the greatest investment in the history of the world.


But human perception matters.


For that reason the chainlink network cannot launch decentralized and must launch with as much provider/node transparency as possible. This sets the floor for node behavior when the network does decentralize. Only though doing it this way will people, with all their flaws, see the value.


Put another way: the only way to successfully launch any oracle network is from the top down with respect to real-world trust. If you could launch a perfectly coded, perfectly transparent, perfectly decentralized oracle network right now you would still lose to chainlink. An oracle network must first have the buy in (and implicit pledge to perform) of those agencies with the most real world trust. The network which harvests these residual trust sources from the real world is the one that wins, and the one that wins is the de facto monopoly because those that can't harvest this resource must traverse the sybill period to launch.

>>14783785

3/3
You are about to see an entire industry (the trust assurances industry) be swallowed whole by a decentralized network. The marginal value of all trust assurances services in the world (contracts lawyers, non-criminal courts, administrative workers etc.) will become the chainlink network. Those groups which don't make this transition will cease to exist. In 20 years it will be hard to imagine how the world functioned without such a network, just as it's hard to imagine a world without the internet now.


You're about to watch the whole world realize, slowly, this new reality. Remember that it takes hours and hours of dedication to get what I'm saying right now. Next year you'll just have to be a CEO/CTO level person to understand. The year after that, someone who is considered smart and cutting edge. You're about to witness all of this happen.


At this point, there is nothing that can be done to stop it. Even if the whole chainlink team died, the cat is out of the bag. Once traditional trust assurers understand this, such a network can't not exist.


Be good and enjoy the ride frens

>>14783685
I'm holding Link from 0,30$ and it's most comfy holding than I ever had. Team provides what they said they will provide. I don't insinuate
by breadcrumbs or stupid FUDs. Just holding and follow their official sources as DMOR for clear look on project. And about your FUD there was soo many threads on this board about this that I won't spoonfeed you. Just DYOR stupid nigger.

>>14783811
>Be good and enjoy the ride frens
How long do you think is left?

>>14783330
desu most crypto is kind of retarded and a new digital currency that is way more practical will probably be based on web of trust more than proof of work. hey maybe i should build it and fuck the critics

>>14783330
When they told me link 1k eoy I didn't think they meant 1k Venezuelan bolivars

>>14783330
Yes link is scam yes yes, Do not buy when it goes down such a scam yes yes.

>>14783330
>dopamine running low
>curtains closed
>vitamin d depleted
>feeling the depression coming on
>"w-we're going to be rich a-arent we??"
>breathe a sigh of relief
>other anons are reassuring you you're going to make it
>ten minutes pass
>the feeling has worn off
>time to make another thread
>"link price prediction thread"
>yeah that's nice... look at all those numbers
>put all the posted numbers and multiply them with your stack
>haha wow, thats a lot of money
>imagine what all you could do with that money
>maybe i'll finally have sex...
>sun peeks through the curtains
>you hear your parents waking up
>hehe, fucking wagies
>the depression comes back
>the dopamine rushes dont last as long as they used to
>time to make another thread
>"is 300 link enough to make it?"

>>14783330
>Let’s decentralize single source data to make it more reliable
>If I turn my $10 note into 1,000 pennies I’ll be rich

>>14785693
>Discord Filename

Opinion discarded. Didn't read not selling.

>>14783940
>Team provides what they said they will provide
kek, no they don't. It's been 2 years and they've made literally 0 progress towards decentralization. They've release KYCed oracles, which is pathetic.

And no, more nodes won't fix the problem. Time won't fix the problem. Fundamentally their design requires KYC to be secure. They could improve their design one day, as they pretend they will in the whitepaper, but I don't believe it. They've been coding trivial shit for 2 years and spent 32mil for basically nothing to show.

No research papers on their proof of stake / reputation design in 2 years === scam

>>14785729
iOS filename you idiot newfag. Like I always said, linkies haven’t the first clue about anything to do with tech or the internet.
>quagmire
>>>/r/ebbit

Gymnastic flip your way out of why you’re getting market dumped by devs. Dance for me linkie.

>>14785782
Please go back to redd*t, subhumie.

Didn't read, not selling, kill yourself.

Also, have sex, incel.

>>14785543
me for the past 2 years, but living on my own.

>>14785782
>Discord Filename
Opinion discarded.

>>14785729
Based and dare-I-say redpilled

>>14785829
>>14785874
I can hear your crying but I do not care, because I’ve been here way longer than you. You smell of new.

Why’s the team dumping? Come on pajeets tell me I’m curious.

>>14785929
Didn't read not selling

>>14783330
>HE THINKS THERE'S AN ORACLE PROBLEM

>>14785543
now that’s just really sad anon

>>14784733
a few years

>>14783330
If chainlink weren't the solution to the oracle problem then why did Oracle partner with them? Checkmate just bought another 100k.

>>14785782
Lol apple user discord tranny
Die now, not dilate.

>>14787065
This.

>>14783396
This x1000 I will print this out and hang it over my bed.
Discord fudders will all hang.