FAILLINK

So instead of having centralized and trusted oracles, you decentralize it and give the trustworthy oracles a reputation boost?

Good job, you're now at the same point. The main difference is, FAILLINK's solution is much more complicated.

Falling for the biz meme, brainlets.

The funniest thing about Chainlink is that most of the holders haven't even read the whitepaper, and everyone knows this, so it's super easy for whales to just say
>this white paper is incredible! you're missing out if you don't buy this
>DYOR tee-hee
Yeah, well I did read the whole thing, and if you actually put the time in to read the damn thing, you'll realize that the what they're trying to do is impossible, and they know it.
Basically it boils down to this two man team came up with a philosophical question, attempted to answer it with a fancy white paper, and are selling it to the unwashed masses to make a profit.
>two people
>1 philosophy major
Get the point?

Vitalik : ETH
1 Dude
NEO : 2 dudes
Google : 2 dudes
Apple : 1 Dude (Steve Jobs)
Continue ?

please

Chainlink is network that reads JSON files and sends the data to smart contracts. (That's called an "oracle".)
Useful, but not a good investment since the idea can easily be copied and 66% of the tokens available are not in circulation.

Also, although they claim that it solves the "oracle problem" (The oracle problem being that oracles are centralized, not decentralized.), it doesn't, since the data being fed through the ChainLink network still comes from a centralized API feeding data to ChainLink through a JSON file.

For some reason link holders think this gives it a future valuation of at least $100,000,000,000, which is absolutely delusional.

>centralized and trusted oracles

How is this different from the current middleman kike system we have?

The whole point of chainlink is that it decentralizes trust, with oracle reputation being ONE factor taken into consideration when selecting which aggregate of nodes to use to verify your smart contract data.

>Apple : 1 Dude (Steve Jobs)
TRIGGERED

stop fudding. you've posted this shit several times on this board already...copypasta

>since the data being fed through the ChainLink network still comes from a centralized API
confirmed for not having read the whitepaper

These threads are getting exhausting. I'm about to start filtering LINK and it's the only thing I hold.

:^^))))))

So instead of having centralized and trusted banking, you decentralize it and give the majority voting rights?

FAILCOIN's solution is much more complicated.

So, basically you trust a bunch a chainlink nodes with high reputation instead of giving a trusted oracle service provider. Why this? Decentralization is not the solution for every problem.

The guy you quoted is copy&pasta his stuff everywhere to spread FUD, but he's right about the API data, this still comes from one source, e.g. a bank.

all the oppo has now is copy/paste fud, we're gonna make it fags!

Yes, I see the point of decentralizing banks and cutting out the middleman, but why oracles? In the end they get data from "outside", that data is centralized anyway.

>decentralization is not the solution for every problem

Why would you enter a high value smart contract that isn't decentralized end to end? Single point of failure and you're fucked. The whole shift to smart contracts rests on decentralized trust faggot.

Quoting the examples from the Chainlink WP:
>Securities smart contracts
such as bonds, interest rate derivatives, and many others will require access to APIs reporting market prices and market reference
data, e.g. interest rates.
You get this from a central data source anyway.
> Insurance smart contracts
will need data feeds about IoT data related to the
insurable event in question, e.g.: was the warehouse’s magnetic door locked at
the time of breach, was the company’s firewall online, or did the flight you had
insurance for arrive on time.
Central data source
> Trade finance smart contracts
will need GPS data about shipments, data from
supply chain ERP systems, and customs data about the goods being shipped
in order to confirm fulfillment of contractual obligations.
Central data source

So instead of having one or several professional trusted oracle service provider, I trust a chainlink node hosting fag with no required collateral, that he will not deliver false data for my smart contract.

all you need to know is aBunch of 4channers tried to force it as /ourcoin/, during the presale ico phase of chainlink there was a minimum requirement of 300eth to enter the presale. Bunch of anons pooled up together and shared presale links to fill them with their eth.

Coin continued to get shilled and pumped up and hyped for the sibios event that link was attended, whole event turned out to be a flop chainlink had a presentation in a room of like 18 people next to the public toilets, literally no news or partnership came from the event and the coin dumped back to below ico prices and created 1000's of bagholder anons.

Now during this alt bull run lots of anons and took advantage of this and shilling this coin to all the new money and newfags that joined in december and don't know this story.

The coin is HEAVILY manipulated and the supply is dried up from huge whales who accumulated below ICO price to create a artificially lower supply (a lot like REQ) and these people have so much room to dump on all of you faggots to still be in profit when the time comes.

In regards to actual project that chainlink aiming to achieve it's nothing more than a basic json parser for smart contracts, would take like a day to add to ethereum by itself.. literally making links whole concept pointless and definitely no need for a token. Would take a lot longer to get it working with bitcoin but the bitcoin core devs would be able to work out the solution a lot quicker than chainlink will, think that's something worth noting that literally nothing is completed and you're literally just buying a whitepaper, they have only 2 developers and they don't communicate at all with no proven background on either, in fact sergey was involved in a project before chainlink called NxT that he since been abandoned until it was took over by a new developer team

STFU, you're posting the same shit everywhere.

fuck, im selling

in every link thread. Im tired of seeing them shilling that peice of shit so hard. As long as there link shilling im going to be posting this shit

>Data from a centralized API is entering a decentralized space, therefore its not "Completely" decentralized

Clearly the data source isn't going to be decentralized because how the fuck would that even work, the whole point of a project like this is to take a company's current scheme and shift it to decentralization.

Looks guys, I see why this idea exists and some organizations are seeking the know-how of the Chainlink guys.

But in the end the oracle feature will be on-chain of the Smart Contract platforms developed by their own developers. It's a feature which requires some implementation efforts, but not months of research.

You're a brainlet.

The point of failure chainlink is addressing is not the trust in the data a single data provider is providing. This is LITERALLY impossible.

It is decentralizing the trust in the data being fed into the smart contract without being compromised.

There is a massive fucking difference.

This is the most effective FUD I've read in a long while

>It is decentralizing the trust in the data being fed into the smart contract without being compromised.

Can you explain to a brainlet what this means, exactly?

That's exactly what I wrote in the last sentence of your quote, fag.

Data source (provider) will be centralized, no doubt and I don't see a solution there. But with Chainlink I have to (and here's my quote):
> So instead of having one or several professional trusted oracle service provider, I trust a chainlink node hosting fag with no required collateral, that he will not deliver false data for my smart contract.

Centralized oracle - obtains data from data providers, aggregates them, feeds them into a smart contract.

If that oracle is compromised, the entire smart contract falls apart.

Decentralized oracle - obtains data from data providers as above, feeds them through multiple decentralized oracles, aggregates the data, feeds them into the smart contract only if consensus is made between all of the decentralized oracles which are parties to that smart contract.

If one of these nodes is compromised, it doesn't matter.

The actual data coming out of the data providers is not relevant to the solution which chainlink is providing.

how long realistically before it starts hitting near the $1.50 mark again?

>Decentralized oracle - obtains data from data providers as above, feeds them through multiple decentralized oracles, aggregates the data, feeds them into the smart contract only if consensus is made between all of the decentralized oracles which are parties to that smart contract.

This makes more sense. Thus, all or a subset of the oracles have to get the data from the source as well? Otherwise how can they proof the integrity of the data?

This,
Also the only argument for a centralized oracle is that "Oh eventually we will have zero points of failure, then its better". This is a brainlet argument because ANY big data related resource used nowadays (Hadoop + Spark being the main one) is built on being resilient enough to where if a failure happens in one node out of a cluster, you're fine. People supporting centralized oracles are supporting the idea that eventually "they will be perfect :^)"

Like Sergey says at DevCon 3, it depends on the needs of the specific smart contract.

He says it will be on a continuum - if you need to have multiple data sources then multiple nodes would obtain data from these sources before feeding them into the smart contract for consensus.

If you only need one data source, I suppose then the single source would be fed through multiple nodes for consensus.

The point of failure is the actual oracle itself - of course the data source can be compromised, there is no control over that. The whole point is reducing risk once that data leaves the source to the end point of the contract.

Nice discussion itt

A good example to look at right now is Oraclize.

They are a centralized oracle service, and their centralized servers just went down which fucked over NEETs that rely on their smart contracts for gambling.

The data providers were still fine - the actual oracle itself was the point of failure.

Thanks for the insightful reply, user fag.
Last question: Why would the big Smart Contract platforms rely on ChainLink instead of having the oracle feature on-chain?

Thanks user

Shut up and fuck off with your cancerous price prediction requests. It could be months. No one knows.

>The point of failure is the actual oracle itself
What does this mean? How could an oracle "fail"?

First quality thread in days.
Thanks lads

>What does this mean? How could an oracle "fail"?
I think what he meant is, that the oracle service provider (=Oracle) went down because it was centralized.

Smart Contract -> Oracle -> Data Provider

DESU, if Oraclize wants to provide this in a professional manner they need to have a failover system for this shit.

Possible answer:
Why develop your own solution when there is an existing open source solution?

Thanks bro, sorry for calling you a fag. I dropped 200mg of modafinil this morning and my neurons are literally on fire right now.

Big Smart Contract platforms would all have to make their own oracle solution - what is the point if one already exists which is blockchain agnostic?

Also first mover advantage and network effect

>200mg
that's a recreational dose, you animal.

No worries, that's how it works here.
Good job on being one of the few who actually read the wp and understood how it works.

I'm going have a look at Mobius now and then decide if I'm going to invest into ChainLink, Mobius or at all.

which suicide method will you be employing next year?

I hold 50k stinkies since October.

The complexity of it is a good barrier to entry for normies since it is marketed at enterprise clients not normal people. Yes, the memefags here have hyped it up, but there is literally 2500 wallets with over 10k link in the entire world.

You could always hedge linkies with a competitor - but they really don't have any right now that aren't either centralised oracles or have a different product offering (Mobius is not a direct competitor in the same space addressing the same problem for example).

...

>a future valuation of at least $100,000,000,000,

kek, nice fud

Mobius isn't blockchain agnostic

...

Checked. Btw LINK is a scamcoin. Buy mobius.

Best use of link is cross blockchain communication
No point in creating a point of failure in an otherwise decentralized work flow. Let's say financial institutions actually adopt blockchain. Most data feeds and associated smart contracts will be decentralized at that point.

Mate, I just looked briefly into their whitepaper. You're aware that MOBI is just a dApp Store Token?

The team and advisors are impressive, but their activities and whitepaper mainly revolve around their dApp store.

Not convinced, LINK looks more promising. What puts me off is the risk of non-adoption and the complete lack of marketing. Chainlink doesn't even have their own TLD.

He was joking breh. Good info, though.

>ITT: Bagholders

How you coping faggots?

They are just starting the marketing campaign, as of like 2 days ago. Check twitter. Gonna be exciting.

Yeah if you’re a fucking brainlet. Because chainlink last whole point is to take the data from multiple API in order to come to a trusted result not just take the data from one single centralized bank API. If you’re looking for bond rates you would take the rates from 10 different bank API in order to come to one trusted result.

There is a thing called collateral faggot, good luck getting collateral from you oraclize. You're an absolute retard not knowing what you're talking about

>>two people
your whore of a mother was getting done by 2 men team, seems like it was a mistake looking at you.
You know nothing about the project and I kindly ask you to get your sorry ass outta here.

>Useful, but not a good investment
Your mother shitting you out through her cunt wasn't a good investment, you filthy smug pasta poster.

>voting rights
bang your head in the wall first then we can talk
>complicated
it's not designed for retards with sub 80IQ

you don't have to trust anyone faggot, missbehaviour will be economically and technically impossible. That's the point of decentraliation, TRUSTLESS motherfucker, do you speak it?

see above you absolute retard.

you're gettting boring, you have to go back

good I hope you do

yea and the customer/client will jump from one solution to another when using different blockchains.
BLOCKCHAIN AGNOSTIC FAGGOT - do you speak it?

they will have to find one, very soon actually

yea, and we all live in a matrix. Real world data will always need to be transported onto the blockchain, we don't live inside it.

advisors are the most overrated thing in the crypto market
Do you know how many times I've seen some of those "advisors" on dead projects' websites?
It's a joke, they pay some boomer who doesn't even understand the project to put his stupid face on their website and hurr durr such an advisor. Ballina started this cancer of sucking advisors' dicks

>How you coping faggots?
I'm buying more

>There is a thing called collateral
There isn't in ChainLink. Also, you might have an anger management issue.

of course it's not something embeded and not a must, but contract creator will state his conditions and node operators will bid accordingly, free market will regulate this beauty better than any faggot from oraclize could ever dream of

Which gambling sites use oraclize?

you know what when someone's trying to load up your dice ruin your night it's tech9 night

>there isn't in ChainLink
Yes there is. The higher value your smart contract, the more collateral you will demand.

do you even reserach faggot?

>Why this?

it will be marginally cheaper and that's all that matters

There is a PnD group who mainly post here and use bots and their holdings to swing the price of link up to 40% but normally 10% to milk money out of small buyers. They spam the board with shill or fud depending on whether they are pumping or dumping or recycling back in. They use algo step buying, fake buywalls and milk retards on here who think they are part of a special club. The truth is in this post. It's pathetic and ugly but the truth and its been going on since the ico

Depends entirely on BTC and the total crypto marketcap. But expect to see LINK slowly claw its way up the top 100 ladder.

Chainlink is, and will probably always be a failure and it has no legacy besides having a weak pump and becoming a Veeky Forums meme.

Even if it Link succeeds, it will only further propel the success of coins like TRAC and EVE which benefit from the features that Chainlink provides.

No matter which scenario, holders of subsidiary coins will always make it; stinky Linkies will be permanently left in the dust.

top
kek

LINK is Veeky Forums crack, plain and simple.

>Plausible but overly technical use case that makes people investing in it feel smart
>Plausible relationships between coin creators and an existing industry that make people investing in it feel smart
>Plausible "industry insider" LARPers who come to Veeky Forums to divulge SECRETZ, which convinces the aforementioned wannabe-smartypantses that they're part of something revolutionary that has flown under the radar so far

Truth is, the decentralized oracle problem doesn't have a market yet, and won't for many years.

We're at a phase where smart contract adoption will happen regardless of centralized/decentralized oracles, because smart contracts solve several existing business problems. No one gives a fuck whether their oracle is centralized or decentralized yet, and when Linkies realize they're investing in the crypto equivalent of the Sega Dreamcast, LINK will dump faster than anything you've ever seen.

The Wojaks will be delicious.

>complete lack of marketing

The lack of marketing is the most important ace they still have up their sleeve when it comes to mcap growth. For fuck's sake, Sergey nor the team made a single tweet in 4 months. But now Sergey is storming out the gate with a bunch of tweets, and LINK recognition outside of Veeky Forums is beginning, which indicates that marketing is just beginning.

without oracles there's no market for smart contracts so entire crypto space will be worthless speculative bubble in your scenario

>Apple : 1 Dude (Steve Jobs)
kys

Apple went under when steve left and while it was crashing and burning steve casually built up pixar before the apple higher ups were begging his cock to come back and slap their faces with entrepreneurial justice. He came back only accepting 1 dollar a year for salary and rose apple from the ashes of where he left it turning it into the most successful company at the time.

You faggot.

Speak for yourself faggot, I've been invested long before AssBlaster started posting baout LINK


>Truth is, the decentralized oracle problem doesn't have a market yet, and won't for many years.
Lol, said anonymous faggot on a macedonian beekeeping forum

>We're at a phase where smart contract adoption will happen regardless of centralized/decentralized oracles, because smart contracts solve several existing business problems.
Smart contracts on the blockchain need oracles you idiot if they are supposed to involve real world data.

>No one gives a fuck whether their oracle is centralized or decentralized yet

yea, that's why banks and serious players are already using smart contracts everywhe... oh wait, they don't trust centralized soutions with their money. Why would that be I wonder...

>LINK will dump faster than anything you've ever seen.
>The Wojaks will be delicious.

I'll tell you how it's gonna be:
all the current fuders including you will disappear or they will pretend like they were on the train since the beginning
Newcomers wil get over it since they didn't have the chance to find out early but faggots like you will suffer having known the whole time.

I understand where the fud is coming from, brainlets who cannot grasp the concept are scared they will miss out, but are too stupid to understand it and invest. If CL was shit like all of you claim you'd just laugh it off but the amount of butthurt link threads are causing everyday proves to me time and time again what's gonna happen in the coming months. Can't wait to see fuders' asses cracking from the pain as the price grows

i'm no link marine, but you are one dumb cunt

I wish the link PnD group would just fuck off.

great another fuckig trip.

do you guys see what assblaster started? If thats the case im going to trip now as well

LINK FUD reduced to stale pastas that have been refuted so much, no one can be bothered to even respond anymore
>huuurrr, no response, linkies. proovs link fud is troo
Time to go all in

>Nice discussion itt
actually getting a proper grasp of what CL does is making me want to double my stack.

also, i'm now pretty certain that if CL write the code for this b4 anyone else - and they will - then that code and concpet can be protected as Intellectual Property.

fuck it, just bought another 100,000/10

found a shill. How much are you getting paid?

low effort fud/10

It's actually true, I haven't seen a single convincing piece of FUD yet.

>getting paid
about 2.5x in gains since buying the dip, lad

Fuck off with posting that gif of anderson cooper while you shill your shitcoin

>using the "is that anderson cooper" troll this many times


get some new material dude

ChainLinks ICO was super expensive (300 Eth) to buy in - they wanted it controlled by a select few whales. They were not expecting Veeky Forums members to pool their Eth and buy in too, and then spread the info about links potential. Swift didn't want the token even listed, but it was an erc-20 token, and exchanges don't need permission to list them. Binance listed it anyway (back before they were as popular as they are now) and swifts plan to control everything fell apart.

Up 20% with link. ETH stack basically stagnant now. #bluechip

you're only typing bluechip because assblaster used the term once.