/biz/ - Business & Finance

[Anonymous No.17822294]

You sold, right? We're going sub $1.

[Anonymous No.17822342]

yes for today we are still going to be sub 1k

[Anonymous No.17822363]

yes

[Anonymous No.17822367]

the dumbest fucking idea in the world

every financial institution and ethereum were going to use centralized oracles; which are faster and more reliant than people give credit for.
But then comes along fat fuck sergey who payed off SWIFT with NxT money to use their logo
>YOU DONT WANT CENTRALIZED ORACLES
>CENTRALIZED ORACLES COULD BE HACKED
>BUY DECENTRALIZED ORACLS :DDD
so then, every single centralized oracle project, technology that could deliver data at instant rates without costing companies anything, all went bankrupt because MUH DECENTRALIZATION.

but one problem
CHAINLINK IS NOT DECENTRALIZED AT ALL
Sergey had gotten an endorsement from SWIFT without Chainlink network even being built. They literally sold them on the idea of chainlink, but not the actual tech.

As more time went on, ChainLink was revealed to not actually have some advance clever technique of decentralized information; they are just going to take the average of multiple sources and say thats the official answer.
This is where a LINK token comes in. Whoever owns the most amount of LINK, gets to decide what source is the most accurate. Anyone who owns enough LINK can cancel out sources for the ones they feel is most right. So, in order for chainlink to work, banks would have to have billions of chainlink at all time to make sure there is no rogue source of data.

And heres the kicker, the way this network works is you have to pay fees in chainlink tokens to process data. Thats sergeys solution to prevent rogue bad data from getting through, make it so the data processing fees is so high, only the right data source can pay the fees.

Halfway through this abomination of a project, Sergey realized
>oh fuck, any random neet can own a bunch of LINK and corrupt the data
so Sergey implement KYC centralization; so that no banks have to use any data from a source that isnt KYC centralized. This means banks will only be trusting other banks for information since they have KYC
So basically; centralized

[Anonymous No.17822410]

>>17822294
>still using link/toilet paper ratio
Also no not fucking selling.

[Anonymous No.17822437]

>>17822294
Hell no, never selling.

[Anonymous No.17822468]

>>17822294
sold at $14.67

[Anonymous No.17822499]

>>17822294
No, I didn't.

[Anonymous No.17822512]

>>17822367
>no stop buying it

[Anonymous No.17822551]

>>17822294

[Anonymous No.17823093]

I'm getting ready for it.