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/biz/ - Business & Finance


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File: 609 KB, 905x1010, Chainlink JUST.png [View same] [iqdb] [saucenao] [google]
25272222 No.25272222 [Reply] [Original]

I'm actually more qualified to talk about this than most anons.I'm employed with a cyber-techno machinations company, I do a lot of security analyst programming type work. Open source, decentralized, APIs, partnerships, you name it. We'd be one of the first companies in line for something like Chainlink, if the decentralized smart contract space had more value over traditional data exchanges. There's a catch though, an underlying flaw more deeply embedded in the bedrock of LINK than the very code itself. The flaw is with the concept, and it's this: Companies won't actually go through the hassle of trusting their data API's through crypto.
Now I can already hear your keyboards going frantic, but hear me out. /biz/ hates banks, and traditional data providers. But actual companies, businesses, and investors do not. There's an old saying you might have heard of: "If it ain't broke, don't fix it!". The idea that any of our bosses would give us the go ahead if we approached them to put our companies valuable data in a smart contract on a cryptocurrency called Chainlink, that they've never heard of, we'd be laughed out at best and fired on the spot at worst. We already have API data buyers and providers we trust.
'But Chainlink is trustless!' I hear you cry, but is that really a good thing? Just listen to the sound of it. Businesses don't want to spend millions of dollars on something that is trustLESS, they want something trustFUL. 'But the reputation system!', doesn't that defeat the whole point of your coin? If companies only trust nodes with high reputation, what's the difference between trusting banks and data providers that already have reputation, but in real life not on a computer screen.
The fact is, LINK is going to share the same fate as ETH will. A lot of 'real world application' hype, with a lot of 'crypto world application' reality. Only, this billion supply coin isn't going to come close to the $1k that Etherum hit. Happy gambling though anons.

>> No.25272231

>>25272222
CHECKED

>> No.25272245

>>25272222
thanks i just market sold

>> No.25272271

>>25272222
Dear God. You killed Link. One post. The glory of my life this lonely night.

>> No.25272276

>>25272222
tldr

>> No.25272289

>>25272222
What the fuck do we buy btw?

>> No.25272305

>>25272222
Wait, so is this bullish for link???

>> No.25272307

>>25272289
buy back on link at $25 screencap this

>> No.25272320

>>25272222
didn't read

>> No.25272338

>>25272222
What you've written is
>we're so fucking early
sounds pretty bullish desu senpai

>> No.25272339

>>25272222
Thats why there’s api3. First party oracles reign supreme.

>> No.25272573

>>25272222
>Companies won't actually go through the hassle of trusting their data API's through crypto

that's exactly the problem chainlink is solving

companies WONT have to trust anyone with their data

chainlink will be able to ask questions about the data without exposing it directly to the world

>> No.25272916

>>25272222
Based

>> No.25272992

>cyber-techno machinations company, I do a lot of security analyst programming type work
Kek kys larping faggot the above is just a bunch of buzzwords and makes no sense

>> No.25273410

>>25272222
post your github or shut the fuck up

>> No.25273643
File: 132 KB, 597x418, 1598370312511.png [View same] [iqdb] [saucenao] [google]
25273643

>>25272222
>>25272231
>>25272271
>>25272289
>>25272305
>>25272338
>>25272339
>>25272573
>>25273410
Guys, what do we do about the newfag problem?

>> No.25273644
File: 110 KB, 861x802, 1606031947176.png [View same] [iqdb] [saucenao] [google]
25273644

A classic pasta that was used many a time in r/CC. Ah the memories.

>> No.25273651

>>25272222
I DID NOT READ AND I WILL NOT SELL

>> No.25273656

>>25272222
yes, you are a giant faggot. hell, i'd even call you overqualified!

>> No.25273791

>>25273643
Wait for the bear
You know the drill, we had this before

>> No.25273999

>>25272222
4000 sats or worse by next month. The project is possibly dead in the water after this knowledge.

Sybil attacks are possible since sybil resistance requires KYC or "trustworthy" node operators. Most people won't KYC because it's antithetical to the idea of crypto itself being decentralized and "anonymous". Therefore, since most operators won't want to KYC, LINK will not be sybil resistant.

Now why does RLC make LINK obsolete in this regard? It's simple. The PoCo algorithm is so well designed that iExec's dOracles can rely on it instead of KYC for sybil resistance.

Boom. I sold all of my LINK at 1.40 because I knew after RLC v3 dumped, that even LINK would dump.

I will not be buying back after learning this. I am all in BAND at the price of $5.00

Sorry gentlemen, I thought LINK was going to save me just like all of us did, but this is the nail in the coffin.

>> No.25274031

>>25272222
The javascript has been hacked and now all LINK nodes are being affected, meaning they will go offline one by one.

But here's the real trick; every node that goes offline first has to be validated by other nodes, Thus the first node won't go offline until EVERY SINGLE NODE has verified it actually has gone offline

LINK will be in an infinite javascript loop. Maybe if you're a programmer you will recognize FOR and WHILE loops. Well.. This is a FOR loop that NEVER ends.

The price will TANK to at least 100 satoshi. Maybe even lower when the nodes are actually verified being offline.

Sergey is now busy setting up extra nodes to undo this process. Called contra-hacking. He has injected some GO-language code, pseudo-offline code, into the ChainLink network. This means nodes will appear the be online, while they are struggling to go offline, but in the meantime they cant because it isnt verified yet. Neat trick if you ask me, but it wont last long before the other nodes will know whats really going on.

>> No.25274194

>>25273999
Checked.
You're unlucky fren.
If you buy back intonlink now then you may still make it

>> No.25274297
File: 117 KB, 500x352, slow-news-day.png [View same] [iqdb] [saucenao] [google]
25274297

>>25274031
Schizo

>> No.25274340
File: 61 KB, 748x1024, 1519277560379.jpg [View same] [iqdb] [saucenao] [google]
25274340

>>25273643
>mass replying nigger
>complain for no reason
kys retard

>> No.25274354

I was at eth denver last year and I went to the bathroom to take a dump. Midway through this guy starts talking to me about smart contracts from the next stall. At first I didn't respond because I thought he was on the phone but then he knocked on my stall and repeated the question. I said "umm not really" but he just kept talking about psd2 and sibos and iso20022. I said okay thanks for the information (trying to be polite). Then he asked if I wanted a t-shirt and pushed it under the stall. I said umm no thanks but he kept insisting. When I tried to flush and got up to leave he was pounding at the door yelling something about big macs and 1k eoy. I couldn't leave and had to call the police before I could leave the stall. After the police dragged this official member of the Chainlink team away I opened the stall door and saw feces spread all over the door. There were massive hand and foot prints of shit everywhere. About a dozen shitty chainlink shirts were on the ground and I had to step over them to leave. Wtf guys is this normal for chainlink?

>> No.25274359

>>25272222
>if it ain’t broke, don’t fix it
Nice digits and all but the financial system IS broken and requires fixing. Companies may not be inclined to get into smart contracts just yet, but as the cracks become more apparent (due to the ship sinking) they are going to be looking for better and more efficient solutions.

>> No.25274386

>>25274359
I went to a McDonald's restroom and I saw this guy in there. he was sweating profusely and muttering to himself about a hooker and regretting what he's done. I tried to ignore him. I walked my hands and he got really, really close to me. he then brushed my arm with his sweating palm then quickly grabbed my forearm. I said WTF dude, stop sweating and touching me. he only said buy chainlink and perhaps both our problems will go away. I left the bathroom and I heard an order called for 6 bigmacs. this guy walks out, grabs the 6 bigmacs and dropped the fucking bag because he was so sweaty. one Mac even feel out of the wrapper and he picked it off the floor, took a bite and said it won't even matter if we all would just buy chainlink. gave me the chills.

>> No.25274454

I was at the fireside chat last year. At one point Tom called Sergey a sandwich fucker. He even accused Sergey of eating the sandwiches after busting loads into them. There was an intense bit of silence while Sergey glared. Beads of sweat formed on his forehead immediately, and his face was flush. He forced a chuckle into the microphone. Then he walked off stage and just out of the room where there was a magazine rack. He was still in full view of everyone through a window. He starts taking these magazines, two and three at a time, and just tearing them to shreds. Sometimes he would pick one up, and try to twist and tear the whole thing at once, but fail, so then he would start ripping out individual pages. He was facing away from everyone, so we couldn't see his facial expressions. This went on for two minutes at least. At this point I thought he was totally screwed, and that he had just ruined the reputation of chainlink in one fell swoop. However, he turned around and walked back into the room. He looked completely rejuvinated and full of vigor again. He proceeded to completely btfo Tom in every way, acting as if nothing out of the ordinary had happened. Afterwards, he even did a little q&a session after Tom left due to being frustrated from the btfo. Janitorial services were picking up the mess of shredded magazines at this point, and the only acknowledgement Sergey ever made to the mess was when one of the older janitors fell over while leaning to pick up the pieces. He sort of covered his hand with his mouth, clearly holding back laughter. It was bizarre, but with genius comes inevitable personality quirks.

>> No.25274653

>>25272222

This whole cringe copypasta doesn't make a lot sense anons.
I don't even hold any LINK rn, but Oracles are solving the oracle problem, it has only something to do in the smart contract industry.

It is necessary, and there are many solutions out there, that are more or less centralized.

In any case, the service reputation is everything, whether it's Oraclize, Chainlink, Tellor, Band..

The oracling service of the future will be the one giving the most guarantees and insurance to its client, period.

>> No.25274791

>>25274653
> be Ari Juels
> Tell weird philosophy student about an oracle problem and introduce him to your number cult
> "Remember the 42 and 216 goy"
> Tell him that muh tech can solve this problem
> "You can even put your name on this white paper I wrote, Sergey, I get enough credit"
> "You're a smart man Ari"
> Ask Sergey to put together a team of saps
> he meets Adelyn crying over some spelling contest at a local community college and Steve at the bus stop
> Thomas was a neet whose mom forced him to apply for part time work at the nail salon in front of Chainlink HQ
> Everyone else was (((recruited online organically through JIDF channels)))
> Jonny used to post exclusively on anonymous horse and stable coin forums
> "Here, Sergey, Chainlink will solve all the problems of the oracle"
> "Gee thanks Ari you're the best"
> 32 million solved Ari's oracle problem... at least for awhile
> Ari exploits backdoor in Chainlink code
> Tell Sergey
> Sergey is devastated
> Sergey spams "it's over" threads on /biz/
> "It's okay I have an idea"
> Sell Town Crier solution to Sergey "hey I was just working on this and thought you might like it :^)"
> A few more million solved Ari's oracle problem.... At least for awhile
> Ari exploits TC code through backdoor and informs Sergey
> Sergey is suicidal
> He begins spamming tranny porn on /biz/ in revenge
> "It's okay Sergey I've got a new solution to your oracle problem but we have to include my student in this scam I mean company"
> A few more million solves Ari's and Zhang's oracle problem"
Hook, Line, and Stinker