/biz/ - Business & Finance

>>19414759
To serve defi brainlit

>>19414783
>To serve defi brainlit
lol what kind of a fucking answer to my question is that? i'm talking about how chainlink used to talk primarily about decentralization and having many oracles, and now it's all about "ensuring high quality data sources" and "high quality node operators" AKA everything KYC'd

>>19414759
>"And generally speaking, right now, in our system we focus predominantly on quality of node operators and we're slowly expanding the amount of node operators."
>"focus predominantly on quality of node operators"

>>19414857
>"our system really focuses on the highest quality node operators making up these oracle networks"

>>19414759
>We generally don't approve quality. We have a review that we do on node operators so that they meet a certain level of quality.
What does this even mean? You don't approve quality yet you review nodes to ensure that they meet a certain level of quality?

>>19414759
>"We are saying we have hundreds of extremely reliable entities with extremely high-quality DevOps teams of 10, 15, 20 people that have already successfully secured hundreds of millions, in some cases, billions of dollars on an ongoing daily basis. And these teams are premium node operators that we can then compose together with other node operators and we can also select the right data providers."

>Right now, the right security dynamic seems to be high quality nodes, high quality data providers.

>>19414759
Has anyone noticed he keeps going off for "shit release" mid-interview and comes back wide eyed with coke all down his shirt?

Look at the enterprises that are counting on this project, Serg is going to establish the quality and reliability of the data/nodes, then when Chainlink is THE STANDARD the floodgates can be opened for neet nodes. Vitalik wants a fantasy commie eth virtual machine and Sergey is letting all the old world back into the game, that's why Vitalik doesn't hype LINK. He doesn't like it but there's nothing he can do to stop it.

>>19414759
Neet nodes are only going to come when network traffic overwhelms kyc nodes ability to provide data.

>>19414978
Yea, I was thinking about this too. Perhaps this is bullish? That is to say, they're getting pressure from more traditional/institutional users who want "premium data" -- the way things work in more traditional business

>>19415034
I hope you're right. That is, I hope the Chainlink team has plans to allow successful integration of independent node operators ("NEET nodes") into the system. I suppose the DeFi community will be much more comfortable with using "unknown" node operators because they are more familiar with the technology and the game theoretical properties of the system, thus they become more trusting.

All of the links and relations with the world economic forum. Mentioning of smarcontract.com in Klaus's book.. the 4th industrial revolution. Really makes me hard.

>>19415075
we may not get to run nodes right away, but if fucking China (BSN), Oracle, Google etc. etc. etc. are running a bunch of data through the established nodes, I think the verified node operators are gonna want our neet linkies staked so they can run more value. I don't have any inside info and maybe I'm way off here but I don't think Linkpool will be the only group offering to stake for us if this shit starts rolling. Gives us more neet linkies down the road, I still feel good about the opportunity.

>>19415156

Did you not see Trump today? BSN meme is completely dead unless Sergey wants to be banned from operating within the United States.

>>19415179
this is gay fud, is General Motors going to stop selling cars in China too?

>>19414759
While there is no staking, they have to rely on KYC'd nodes. The only guarantee they have that the nodes won't behave dishonestly is their business reputation, that's why they only pick companies with already pre-existing business and a good record.

>>19415298
Good point. I do think staking will be sufficient for a lot of DeFi/crypto projects - they’d be less inclined to buy the “premium data” meme. That is, crypto people are probably more inclined to trust game theoretic dynamics versus having to use “trusted nodes” and “trusted data providers”.

>>19414759
fuck that, can we just talk about bjork instead? are you the not cooming poster?

>>19415961
no :) but i would love a bjork conversation. i'm actually quite surprised at the fact that there are several bjork fans on /biz/ kek. i didn't think this place would have many with patrician taste in art/music. favorite album, anon?

>>19416088
checked
fav album homogenic
OP, I have kind of noticed this, although Sergey never mouthed off a lot about neet nodes. I unironically asked him in person when we can stake in late 2018 at the NYC meetup and obviously got a safe cover-your-ass answer. I think it has to be a part of the ecosystem eventually in order to allow customers to choose the level of decentralization they want, and to enable more (infinite number of different) data feeds. Right now it makes sense to iron out the kinks with a focus on DeFi which is just price feeds. I'm mostly a brainlet but the general vibe seems like it's in their best interest to allow anyone to operate a node eventually, it would only bring in value.

>>19414759
Yeah I’ve noticed
He sounds more confident lately desu

>>19416232
>vespertjen for me frens
>>19416088

>>19414759
Why would you move away from KYC? KYC is the future. There are already more than enough KYC'd nodes to have a safe & decentralized contract execution, no reason to move away from this incredibly secure and trusted environment.

>>19416298
vespertine was my first and still my go-to for sleepytime comfiness

>>19416232
are you based in NYC?

>>19416405
I was at the time, not anymore. I met linkjesus there, before he started sperging out all over the board

>>19416332
because then you have a central point of failure: chainlink. nodes would need to be KYC'd by Chainlink. Chainlink's whole value prop is offering data to the blockchain in a manner that mitigates central points of failure.

>>19414759
anon... it was ALWAYS going to be KYC'd everything, this is a centralised corporate cuck coin and a funding token

>>19416298
vespertine is such a work of art. it's amazing how she took her life and surroundings at the time and transmuted them perfectly into an album: falling in love in winter time (the lush string orchestra evokes images of snowy hills), spending a lot of time indoors with her husband (the "microbeats" created by creaking floors, doors shutting, and other "indoor" sounds), spending a lot of time on her laptop (she purposely had the music box engineered so that it would sound as if it were "compressed", she even said Napster was one of the influences on the album - making sure the album would sound good when compressed and sent over the internet) ... i could go on and on ...

>>19415298
This

>>19416521
Didn't know all that, thanks for sharing. I always loved on Joga how the beat made me think of crumbling mountains, then later learned she intended a volcano with it. She really just turns her life into music. Same thing in Dancer in the Dark

>>19414978
>>19415034
>>19415102
>>19415298
There are two sides to the coin if we avoid the tragedy of the commons. As established in the early days of ChainLink NEET research, the KYCed node step is to ensure that there's a minimum barrier to entry for NEET nodes, which prevents sybil fuckery.

In order to incentivize KYCed nodes to make this initial investment, the best-bet Serg could make would be to let them know a general timeline of NEET participation so they can fill bags between now and then. This gives them time to integrate, test, and allow their accountants to have heart-attacks over the savings. When they've hired enough new accountants to handle the backlog, we'll get staking. With staking will come NEET nodes.

>>19416598
>Didn't know all that, thanks for sharing
i don't think a lot of people do. i've literally read every single one of her interviews

>>19416615
>the KYCed node step is to ensure that there's a minimum barrier to entry for NEET nodes
what do you mean by this? are you saying KYC is the only present option for Sybil resistance (which I agree with)?

>>19416615
>In order to incentivize KYCed nodes to make this initial investment, the best-bet Serg could make would be to let them know a general timeline of NEET participation so they can fill bags between now and then. This gives them time to integrate, test, and allow their accountants to have heart-attacks over the savings. When they've hired enough new accountants to handle the backlog, we'll get staking. With staking will come NEET nodes.
Are you saying first KYC nodes need to be convinced that staking is profitable? Maybe I'm not following ...

On another note:
>So, on chain, you have a transaction that will commit the node operator to delivering data at a certain level of quality, frequency and deviation from other sources.
>deviation from other sources.
What could he possibly mean by "deviation from other sources"?

>>19416710
Sort of. I think there are better ways to go about it, but Serg has chosen this specific path.

The end-goal of any Oracle solution is to have nodes come and go at-will the same way a Layer-1 mining rig does. 'Trustless garuntee' is different than 'trust' and that's what's happening with the KYC nodes. They HAVE STAKED, it's just that they haven't stakes link. They've staked their reputation, and the very option of participating in the 4th I.R.

Think about it - if Google decided 'fuck Apple' and were running a node they knew could fuck a few contracts, it would make financial sense to sacrifice the node's stake in order to make that happen - even if the stake were worth more than the value of the contract. Gotta break some eggs to make a fuck-you-other-guy. No big deal. But they'll NEVER under ANY circumstance risk their participation in the 4th I.R.

So this phase ends when all the big players are on board, and have rendered the internal understanding that the participation is an existential imperative. Only then will the financial punishment be relevant, and it won't ever be relevant for those big players. It's only relevant for NEETs.

>>19416819
>The end-goal of any Oracle solution is to have nodes come and go at-will the same way a Layer-1 mining rig does.
I'm not entirely sure how this is relevant to the rest of your argument. If nodes are staking, who cares whether they come and go at will? (Except for the fact that they risk their reputation.)

>>19416936
Staking is just the vehicle that makes that happen. The end-game being robustness/availability is a soft-proof that KYC is *not* the end-game.

>>19414759

>>19414759
>High IQ Chainlink discussion
lmao
>Has anyone else noticed a shift in Sergey's talking points during interviews?

What did you expect you fucking tech illiterate brainlets? You thought this guy solved a near impossible compsci problem? You thought he managed to make money out of what should only be a free protocol like HTTPS?

>>19414883
>You don't approve quality yet you review nodes to ensure that they meet a certain level of quality?

You are now entering the trip-up stage. The stage of a shitcoin's life cycle where promises and visions are slowly contorted and back-pedaled on. Expect to more hear more shit from Sergey that makes no sense in the future.

>>19417338
I've read this once before, but it's good to re-read. Yes, this makes sense. They're using trusted entities from the "real-world" to seed the network.

>>19416430
I only sperg out on this board when I'm bored sometimes or think the community could use a jolt.
>t. the real link jesus

>>19414759
It's because he betrayed us and he knows it

>High IQ Chainlink discussion
>High IQ
>Chainlink

>>19417338
Pretty sure thats Sergey

>>19418167
>fundamentally
>marginal value

Huge corporations will just use APIs from other huge corporations, and use server redundancy and AI among other strategies to get accurate price data.
If shit hits the fan, they will take each other to court.
That is the real black pill. But Link is a cult so you should look morw at "how much longer will the delusion last, and how big can the cult grow". Look at running scams like Herbalife for comparison.
If you're discussing "neet nodes" you're engaged in cultist talk and not being serious about making money.

>>19415298
There never will be staking. How many additional years past 2017 do you think token staking needs to happen? Are you starting to realize that if they knew how to do it it would have been done 18 months ago?

>>19418533
the whole point of smart contracts is that they are self executing and tamper proof. you don't need courts. everything they do is based on code that anyone can see

>>19418596
there wasn't even mainnet 18 months ago

>High IQ Chainlink discussion
LINK 1000 EOY

>>19418631
The smart contracts still get their data from centralized api's in the end, even if it's aggregated. Corporations can thus do this by simply aggregating data from multiple api's themselves, skipping the stinky linkie middleman. But I'm really not having these circular discussions anymore.

>>19414978
this
although im a bit more pessimistic on neet nodes

Where have all you thoughtful anons been this last year? It's been a looooong time since we've had actual discussion on this board.

>>19417401
I will find Every. Single. Nico post you make. Filthy animal.

>>19418974
Everyone is comfy with their stacks, its only linklets and some trannies/seetheposters left
Everything interesting regarding LINK was already discussed throughout 2017-early 2019

>>19419007
I miss those days. Nostalgia hurts frens ;_;

>>19414759

The more KYC highly reliable nodes the Chainlink network starts off with, the stronger the network would be. Chainlink has to ease it's way into decentralization or else there's a possibility of getting attacked.


The Chainlink network will only get stronger with time as more KYC nodes and non-KYC nodes go live on the network.

>>19419006
based and bigdicked

>>19414759
he btfo band and tellor shitters, he's now dealing with pack of rats trying to chew the lion's tail