/biz/ - Business & Finance

[Anonymous No.10863371]

>shills CL to family
>gets ridiculed, research compilation ignored (probably because I'm young)
>6 months later they want me to handle transactions for them
>feelsgoodman.jpg
>"we want you to buy this thing called powerledger and elastos for us. Yes we've looked at chainlink but it seems pretty generic, every coin has smart contracts in them, just like chainlink"

They definitely haven't read what I sent them in detail, so fucking mad at how dumb yet arrogant they are.

Can't correct them either or it'll be a form of disrespect. Fuck me biz am I supposed to watch money go down the drain?

[Anonymous No.10863384]

They are right anon. Chainlink is a money laundering scam.

[Anonymous No.10863398]

>>10863371
>Can't correct them either or it'll be a form of disrespect.

[Anonymous No.10863400]

>>10863371
>powerledger
>elastos
run op, don't go down with the ship

[Anonymous No.10863401]

Just take a cut and say the exchange took a fee. Then buy more LINK for yourself because your family doesn't deserve any.

[Anonymous No.10863413]

>>10863371
Even boomers can see the stink kek

[Anonymous No.10863439]

>>10863371
Tell them that you don't support their choice and you are not responsible if they lose their money. You can't reason with stupid people.

[Anonymous No.10863484]

>>10863371
What the fuck are doing? Shilling to anyone IRL is never worth it.

If it goes to shit, they blame you. If it goes interstellar, they take the credit and probably say you got lucky because they don't understand your research.

Just buy Link for yourself and if you make it, you can give them handouts every now and then. That way they'll know damn well who deserves the credit.

[Anonymous No.10863500]

Very good anon. Get them all into the scam

[Anonymous No.10863525]

This is mainly why I believe the bubble isn't here yet - everyone has heard about it but nobody fucking knows anything. It's when old money is scratching the surface of how job automation will be triggered by dlt/smartcontract, not robots, that the real bubble will begin

[Anonymous No.10863537]

>>10863371
>am I supposed to watch money go down the drain?
yes. and after you make it, cut them off if they ask for money

[Anonymous No.10863541]

>>10863484
Am linklet and unifag, shilling to parents so I don't have to pay their mortgage with my meager stack

[Anonymous No.10863565]

>>10863398
Pajeets have strange customs

[Anonymous No.10863648]

>>10863541
I guess I can understand that. If you're low on money, you should spend every bit of your energy scraping something together to increase your stack.

Many people have such large stacks that putting a months paycheck in crypto doesn't matter anymore. But if you can double or triple your stack by doing so, you should.

[Anonymous No.10863923]

>>10863371
How hard is it to explain to them that smart contracts currently only use data from on the blockchain? Then explain the oracle problem and how getting data on chain through a centralised oracle defeats the purpose of a trustless smart contract, and explain the requirement for a decentralised network of oracles and show them the confirmed partnerships.

If they don't listen to all this then let them buy whatever the fuck, but make sure to be super smug about it when you make it.

[Anonymous No.10863927]

>>10863371
Stop using this reaction pic, it makes you look like a beta faggot who needs to get his face fucking punched.

Also, after having just read your post, I want nothing more than to fucking beat you up you weak pussy faggot.

[Anonymous No.10863936]

>>10863371
fuck your family. They are fuckin idiots and deserve to be poor. Tell them that.

[Anonymous No.10863977]

>>10863923
kek i made that infographic and sent it to them too, didn't seem to have any effect. Will keep trying though just need to have thick skin

fucking powerledger...

[Anonymous No.10863992]

>>10863927

[Anonymous No.10864017]

>>10863977
Damn what a coincidence. Try to really dumb it down and baby step them I guess, explain blockchain, bitcoin, smart contracts and then oracles.
But I've tried this with my 55 yr old boomer corporate engineer dad and he just doesn't get it. They will learn.

[Anonymous No.10864035]

>>10863927

[Anonymous No.10864039]

>>10863525
>This is mainly why I believe the bubble isn't here yet - everyone has heard about it but nobody fucking knows anything. It's when old money is scratching the surface of how job automation will be triggered by dlt/smartcontract, not robots, that the real bubble will begin
This was such a strong redpill. Before coming to biz more often and learning about chainlink, I was under the impression, like most people, that automation would btfo blue collar jobs first, but this will btfo white collars instead. Most people have no idea this is coming.

[Anonymous No.10864100]

>>10864017
Hope these helps:

OVERVIEW

Understanding ‘blockchain’: https://blockgeeks.com/guides/what-is-blockchain-technology/
‘Smart contracts’: https://digitalchamber.org/wp-content/uploads/2018/02/Smart-Contracts-12-Use-Cases-for-Business-and-Beyond_Chamber-of-Digital-Commerce.pdf
Current problems and challenges: https://hackernoon.com/oracles-help-smart-contracts-resolve-subjective-events-d81639d8291c?gi=a3697164290b
What is ChainLink?:
(a) https://imgur.com/a/szBYE1f
(b) https://www.youtube.com/watch?v=AfJiRsYpgyc&feature=youtu.be

Most uses cases outlined within “Smart Contracts: 12 Use Cases for Business and Beyond” cannot become a reality if there isn’t a way to verify legitimacy of information being fed into smart contracts.
POTENTIAL CONNECTIONS

Section 1
https://www.afr.com/technology/asx-blockchain-to-go-live-at-end-of-2020-20180427-h0zcgx
https://www.afr.com/markets/equity-markets/asx-says-its-blockchain-will-slice-super-costs-20180816-h14270
https://hub.digitalasset.com/press-release/goldman-sachs-and-ibm-join-13-investors-in-digital-asset-bringing-funding-round-to-more-than-60-million

IBM & Australian Government
https://www-03.ibm.com/press/au/en/pressrelease/54124.wss

Australian Banks & Blockchain
https://www.zdnet.com/article/australia-to-force-big-four-to-open-banking-data-by-july-2019/

Marine blockchain insurance platform
https://www.insureblocks.com/blockchain/ep-18-insurwave-the-complete-story-with-ey/
https://www.ey.com/gl/en/newsroom/news-releases/news-ey-worlds-first-blockchain-platform-for-marine-insurance-now-in-commercial-use

[Anonymous No.10864109]

>>10864100
Artificial Intelligence, IoT, Blockchain and Smart Contracts
https://www.seal-software.com/blog/blockchain-why-we-need-intelligent-contracts-aka-smart-contracts-30
https://www.gartner.com/smarterwithgartner/anticipate-and-exploit-future-work-trends/
https://aragonresearch.com/artificial-intelligence-vs-blockchain-two-innovative-approaches-in-digital-transaction-management/
https://www.ecmconnection.com/doc/aragon-research-reveals-first-globe-for-enterprise-content-management-0001

Docusign, Salesforce, SWIFT, AI
https://www.docusign.com/sites/default/files/resource_event_files/DocuSign-Rise-of-Modern-Systems-of-Agreement-White-Paper.pdf

Additional readings:
https://www.artificiallawyer.com/2018/05/18/ambiguity-is-the-killer-of-smart-contracts-seal-software/
https://www.artificiallawyer.com/2017/08/04/linklaters-sets-out-support-for-smart-contracts-blockchain-tech/
https://azure.microsoft.com/en-au/blog/enterprise-smart-contracts-resolving-the-truth-for-blockchains/

Global Legal Blockchain Consortium
https://www.lawsitesblog.com/2017/08/consortium-formed-drive-blockchain-adoption-legal-industry.html

Artificial Intelligence and Law
https://www.artificiallawyer.com/2017/04/18/artificial-lawyers-spring-review-green-shoots/

https://www.ecmconnection.com/doc/aragon-research-reveals-first-globe-for-enterprise-content-management-0001

[Anonymous No.10864121]

>>10864100
>>10864109
thx boyo, I have that pasta already but need to read it.

[Anonymous No.10864136]

>>10863923
I've been trying to get ChainLink, but I can't.
I understand the problem, but what is the role of chainlink in this?
Is it a company that tries to become a monopoly in the API field by making more partnerships than others?
Why do you need the tokens, are they used for making API calls? Why would people/companies pay for it? Why should API calls be a scarce resource?

Anyway for me it doesn't make sense so far. Right now assets such as fiat bank account, real estate, stocks etc. are under governments control and enforced by the police. I don't understand how do you expect the government and police suddenly respect ownership on the blockchain, why would they care?
Asking for permission and trying to integrate blockchain into an existing system is a dead end. Crypto has to build its own infrastructure from scratch where new wealth will be made and governments will have to bend to get a part of that wealth.

[Anonymous No.10864142]

>>10863500
Kek

[Anonymous No.10864250]

>>10864136
>$LINK is a decentralized oracle service that basically connects smart contracts to the real world, allowing them to operate trustlessly. What’s an oracle? An example is Bob makes a smart-contract bet on $ETH with Alice on the superbowl. The oracle would pull the results of the game from Google, http://NFL.com etc then send data to the smart-contract. But the oracle is centralizied, so could be hacked and provide incorrect data to the smart contract, to be providing correct data. This makes smart contracts a less smart. Enter $LINK which will offer decentralized oracles to provide trustless/unhackable data. Data will be pulled from multiple LINK nodes to confirm accurate data is being supplied. Nodes stake $LINK tokens to incentivise nodes to behave honestly to not lose their stake and receive more $LINK.

[Anonymous No.10864261]

>>10864136
So much this.

[Anonymous No.10864452]

>>10864136
a sincere nolinker, on my biz? it's more likely than you think

[Anonymous No.10864808]

>>10864250
Isn't any company who's providing an API for the blockchain responsible that their data would be correct?
Are you talking about some malicious entities that would change the data in between?
Or hackers would simulate being a a bank themselves?

[Anonymous No.10864843]

>>10864808
correct. with a centralized oracle, if you compromise the oracle, you can compromise the result

[Anonymous No.10864865]

>>10864843
can you give an example?
Why does there have to be any oracle, why won't companies just do API calls between each other?

[Anonymous No.10864873]

1. be Sergey, have lots of money in crypto you don't want to pay taxes on + you can't legally explain where you got it
2. create a shell company in a tax haven
3. copy a failed project, make minimal changes
4. invest in own ico anonymously with private crypto holdings
5. PROFIT - all funds in a shell company in a tax haven, legal source of funds and zero taxes.
6. EVEN MORE PROFIT - people who didn't read the whitepaper start putting millions into the "project"
Sergey is the personification of the Russian corrupt spirit

[Anonymous No.10864966]

>>10864261
>>10864136
>I've been trying to get blockchain, but I can't
>Why can't we just have a centralized, world type bank to handle all of our transactions?
>Why can't we just have a centralized sever hosting all smartcontracts?
>Why can't we just have a centralized API company feeding it data?

You are either missing the boat, or you have read at least one history book.

[Anonymous No.10864973]

>>10864865
LINK is the bridge to smart contracts, you can API call all day long but its not going to interact with a smart contract on a blockchain withour an oracle service...thats the LINK bit, bringing valuable off chain data that companies interact with all day long, and offering that data to smart contracts. allowing companies to monetize that, and sell that data into smart contracts.

Other companies offer oracles (orcalizeit), but they are run by oracleizeit. so if that network goes down, or is compromised, the resulting data being put on the blockchain can be compormised, or not available at the time the contract needs to run.

chianlink network is a network of decentralzed oracles, meaning you preserve the value proposition of "trustless" all the way from tghe source API, through to the smart contract on chain. now you can use off chain events to trigger trustless self executing smart contracts

[Anonymous No.10865116]

>>10864808
Blockchains cannot directly access off-chain data. Oracles are the middle link, feeding the off-chain data on-chain, in order to trigger the smart contracts.
As to why decentralized is better than centralized, see pic related for example. A centralized oracle could get attacked, hacked or simply go offline. It's like if you had one million dollars in one bank vs one dollar in a million banks, which would be the safest strategy?
Many other reasons why LINK is such a strong project compared to its competitors: partnered with SWIFT so will be compliant with banking standards (the ISO 20022 norm), blockchain agnostic, meaning it will work on any blockchain like Ethereum or Hyperledger (or others, using adapters), partnered with the organizations defining the legal standards for smart contracts, also recognized by leaders in the e-signature field which is also a key component of the smart contract ecosystem, etc.

[Anonymous No.10865139]

>>10864136
The point of ChainLink is that smart contracts cannot make API calls in the first place. Communication is only one-way: anyone can read the blockchain's transactions but no smart contract can read anything that hasn't already been input into the blockchain at the time of the transaction. Thus the need for a service that provides external data to smart contracts. Many such services exist today, and the most popular one is Oraclize.it which you can have call a specified function in your smart contract with the data you request. When using Oraclize you must pay a fee for each transaction in addition to the gas costs for the callback transaction. ChainLink is like that but decentralized: you do not set up your own server to make those API calls for your own smart contracts, and users of smart contracts do not need to trust the author's servers either. Instead, ChainLink node operators compete to provide the data as quickly, accurately, and cheaply as possible. Most classes of data (basically anything public) can be subject to consensus methods that make incorrect data (maliciously or accidentally) impossible unless you have control of at least 2/3rds of the network. For other more exclusive classes of data the reputation system (which is only described vaguely and is the part I understand the least) will keep track of the most trustworthy nodes. When a smart contract makes a ChainLink query it may provide a "service-level agreement" which defines the data it wants and what consensus method, if any, it wants to apply. The SLA can also influence node selection by specifying how important things like reputation, a high uptime, a lot of staked LINK (which is lost if they provide incorrect data), or whatever else you deem important for any given query. The service then selects the nodes which best match those criteria.

This is all from reading the whitepaper so I'm not sure if any of this is outdated or has been refined, but that's the basic idea.

[Anonymous No.10865225]

>>10864039
B/c blue collar jobs have been getting automated since the mid 2000s. The low hanging white collar jobs have been getting automated slowly but now it’s about to really kick in to gear

[Anonymous No.10865293]

>>10863371
Can you send me what you wrote for them to read? I can give you an email?

[Anonymous No.10865358]

>>10865293
[e-mail]

I’d like to read what you wrote about chainlink.

[Anonymous No.10865396]

Actually OP why don’t you just post here what you sent your senpai?

[Anonymous No.10865433]

>>10864966
You're making huge generalization here.
I'm all for blockchain and the new decentralized ecosystem it's building.
I don't get why you need to implement existing stagnated databases into it and why you need tokens for it.
>>10865116
>Oracles are the middle link
Why can't any company who's providing API also serve the same functions as the oracle does? Is it too complicated? They could also provide abundant uptime
>>10865139
Ok, your text makes a bit more sense. But why won't each company also develop their own oracle functions with abundant servers instead of being forced to use somebody else's services with overpriced tokens?

[Anonymous No.10865509]

>>10865433
why don't they create their own internet and their own email services and their own desks and their own chairs?

[Anonymous No.10865568]

>>10864873
this fud is actually pretty good
got me

[Anonymous No.10865642]

>>10865509
I mean they do have to develop API-s themselves anyway, how big is the gap between doing that and implementing it with a blockchain?

[Anonymous No.10866096]

>>10863500
this is why i haven't told any of my family about link

if it goes to 0 ill kms and if it goes to $1k I'll be generous to my family

[Anonymous No.10866377]

>>10863371
yeah op, >>10863401 is right.
smile through your teeth and go, "Alright, if you're confident I'll help you" and then take a fee and buy more LINK.
In a few years, they will never question your advice again.