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21319569 No.21319569 [Reply] [Original]

Sold my suicide stack today, so I thought I'd leave my thoughts here after staying silent for years.: congrats to link shills for deploying the greatest midwit trap the crypto world has ever seen.

I would guess that few have asked themselves why would any group of organizations not spend the three months of dev work that it takes to make a multi-sig black box application.

It's like a salesman walking in to a military base and saying "I can give you consensus on launching missiles, but you have to pay me for every launch". Anyone doing anything that costs a substantial amount of money is going to develop their own multi key solution that serves the same purpose.

Enjoy while you can.

>> No.21319694

>>21319569
>midwit

>> No.21319728

>>21319694
Op reposted his thread after it slid to pg10 with no replies

>> No.21319754

>>21319569
You neglect to acknowledge that they’re already paying someone for the consensus (lack of consensus). Failed transactions... miscalculated transactions... losses that can only be determined by audit due to lack of manpower to check everything. That cost can be eliminated by 99% by trustless transactions and smart contracts.

>> No.21319775

>>21319569
Thinking of selling. How much did you make?

>> No.21319846

>>21319728
Yep, nervous?

>> No.21319946

>>21319754
Yes, they're already buying from an API, why do they need to pay a middleman for smart contracts that they can write themselves?

>> No.21319983

>>21319754
Furthermore, if they do have a oracle, it’s centralized and prone to failure. Large enterprises might shell out for something but it’ll still be single point of failure and cost a heavy upfront fee. And when it does fail, they’re fucked... no collateral. That disqualifies a lot of mid tier orgs, smaller businesses etc. LINK is a first mover and they’re so far ahead in stress testing, networking and partnerships.

>> No.21320025

>>21319775
~1500%, feels good.

>> No.21320082

>>21319946
As soon as one high dollar transaction breaks, the outfit providing the APIs goes tits up in litigation... or if they have a good legal department, their customer loses.

>> No.21320125

>>21320025
No regrets anon, you've won whatever the peak turns out to be

>> No.21320186

>>21320025
how much money did you make though?

>> No.21320193

>>21319983
>centralized

Note that in my post above, I said multi-sig.

There can be as many nodes as the organizations want. For example,
>company A, B, and C, all run identical servers
>they know they're identical because each server checks the others code and signs off on transactions
>all three servers run in parallel, consuming API data and verifying that it's not tampered with

There's still no reason for a middleman. The kind of setup I'm describing could take a dev team days or weeks at the most to implement.

>> No.21320233
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21320233

>>21320082

Thats what Kleros is for shit for brains.

Also I'm sure you're smarter than all the engineers and investors and Oracle, Google, Docusign, SWIFT, the fucking WEF, T Systems, Amazon etc.

>> No.21320239

>>21320186
about 250k usd

>> No.21320330

>>21320082
Same thing happens with link or any other oracle "solution".

Real oracles are impossible, that's why they're greek myths.

>> No.21320555

>>21319569
Chainlink is open source, everyone know it's easy to copy, what you can't replicate is network effect

>> No.21320596

anon makes good points. i just bought for the memes but selling my 30x seems like the most prudent move at this point, especially since i know nothing about the tech. thanks for breaking me out of my reverie anon, gonna buy a small house i think

>> No.21320766

>>21320233
>Thats what Kleros is for shit for brains
Explain

>> No.21320873

>>21320239
Off a good initial of 15250 at about a buck each. Good 3 year investment

>> No.21320989

>>21320555
You're needing to consense between two parties already, why wouldn't you just roll your own.

>> No.21321305
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21321305

>>21319569
>>21320239
You could've been a multimillionaire. Screen capping and adding this to my cringe compilation when it gets to 50$ a Link

>> No.21321516

>>21321305
I'm already that due to other coins. Keep pumping, Just don't be surprised when the crash comes hard.

>> No.21321902

>>21321516
im just trolling you. I'm happy for you actually thats pretty insane. I'd sell too if i could net 250k. If it dips hard ill just buy more

>> No.21321959

>>21321902
muah