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/biz/ - Business & Finance

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File: 18 KB, 694x152, maker vs chainlink.png [View same] [iqdb] [saucenao] [google]
17841522 No.17841522 [Reply] [Original]

Guess which one just had a massive exploit that cost users nearly 5 million USD.

>> No.17841574

Damn, gl linkies

>> No.17841581

just bought 1.5k more linkies

>> No.17841608

>>17841574
It was MKR you dumbass.
MKR dumped slightly because only a portion of it is available on the market.

>> No.17841621

>>17841608
>MKR dumped slightly because only a portion of it is available on the market.
That's not how it works.
The lower the proportion on the market, the easier it is to dump it.

>> No.17841640

>>17841581
True that. Feels like stealing. LINK dropped about 20% in sats today for absolutely no reason while eth dropped 20% in sats during this entire dump. I sold my entire eth stack into link.

>> No.17841653

>>17841522
just sell your bags it will dump even further
cya at 3k

also US stock market crash is imminent

>> No.17841674

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..

>> No.17841705
File: 99 KB, 850x638, __yazawa_nico_love_live_and_1_more_drawn_by_hitotsuki_no_yagi__sample-61ae07af933a0d5240fe54e34c607923.jpg [View same] [iqdb] [saucenao] [google]
17841705

>>17841522
guess which one has literally gone parabolic--and is now correcting--and which one has gone sideways during its entire existence?

>> No.17841731

>>17841522
LINK is so undervalued!

>> No.17841733
File: 384 KB, 960x765, Yes..png [View same] [iqdb] [saucenao] [google]
17841733

>>17841674
So I own an asset that banks are interested in, huh?
Might scoop some more then.

>> No.17841758

>>17841640

> LINK dropped about 20% in sats today for absolutely no reason

Oh there is a reason.

1.) A Pump n dump
2.) 3 years 0 users
3.) Sirgay dumping

>> No.17841798

>>17841733

Nah, banks are just going to build their own oracles. No need to use shitstink.

>> No.17841812
File: 213 KB, 409x409, 1570206106037.png [View same] [iqdb] [saucenao] [google]
17841812

>>17841674
Stinkers on suicide watch

>> No.17841826

>>17841522
guess which one was on a massive bubble because retards actually thought erc20 shitcoins have value?

>> No.17841852

>>17841798
>mental gymnastics
What should I buy then? How about Mobius, sir?

>> No.17841860

>>17841674
kek – assuming there will still be financial institutions in a few months

>> No.17841876

>>17841705
>guess which one has literally gone parabolic
That one that's working with Google Cloud, and is about to be integrated by Oracle?

>> No.17841879

>>17841522
Not link, that's for sure, because it has zero users.

>> No.17841897
File: 204 KB, 1315x739, 1581947188952.jpg [View same] [iqdb] [saucenao] [google]
17841897

>>17841826
>on a massive bubble
Yeah, for no reason whatsoever lmao.

>> No.17841924
File: 223 KB, 1039x757, chainlink users aave bzx reactions chainlink performance gas congestion 2.jpg [View same] [iqdb] [saucenao] [google]
17841924

>>17841879
>Link
>zero users
Except for the users who were extremely happy with Chainlink's performance during the recent gas congestion crisis, right?

>> No.17841932

>>17841876
number of erc20 tokens purchased by any business entity of any kind:
zero.
and it will always be zero.
cope harder, faggot.

>> No.17841948
File: 157 KB, 1607x827, google cloud chainlink link tokens.png [View same] [iqdb] [saucenao] [google]
17841948

>>17841932
>number of erc20 tokens purchased by any business entity of any kind
Anon, I...

>> No.17841964

>>17841924
oh you mean random neet who lives with his mom? such an elite institution

>> No.17842126

>>17841964
You have a vibrant imagination.
Consider actually applying it to something constructive.

>> No.17842711

>>17841758
This doesn't really work when the entire market is bleeding