1c Oraclize fee for a basic API call

Yep. It will be like bitcoin mining.

Think about the bigger picture. Muh NEET passive income is not Sergey's goal here.

Dude look at the numbers. If the returns for operating a node have to compete with the oraclize rates (even after charging a premium for decentralization) how could the returns possibly justify the trouble of maintaining a node? Once people realize this they will stop. Nobody gives a fuck about how much companies will save, they only care about their direct returns. Without node operators there is no network.

>how could a decentralised competitive marketplace outcompete a single centralised entity when it comes to costs
I'm not going to explain it to you, faggot, just stay poor, and make sure you check the LINK price in 2020.

this guy knows

people don't trust oraclize. especially not for any serious fintech, be it old world or crypto world. you can bet that for example crypto derivative trading smart contracts aren't going to use oraclize when they can use chainlink.

>if I keep earning $1200/month and I pay $1200/month in student loan interest I will be insanely wealthy in a year!

what is oraclise used for apart from betting?

LINK nodes will be paid in link tokens, not in dollars or cents.

...

this is the main reason why I didn't buy chainlink. Everytime I asked Veeky Forums their opinion on this it was either:
a) mental gymnastics
b) no response

Oraclize claims to serve "thousands" of requests a day. (says so here docs.oraclize.it/#home)

If they serve 2000 requests a day, and let's say they only get 1 cent for each (the minimum amount they charge), that's $20 a day, or $7300 a year.

Lmao, that's extremely profitable. You could live a NEET life in a cheap country on that.

You degenerate dimwit missed the 58932423 times where actually serious discussions and in depth FAQs were done over the past 3 months because you were too busy drooling over the keyboard.

>Mwaaaah I don't buy because I don't get spoonfed like the illiterate retard I am

So stay away. Your pocket money is not changing anything and nobody owes you anything. If morons like you were spoonfed, you wouldn't grasp the whole concept or any detail anyway. At this stage it is just a waste of time to argue with idiots or shill it to still uninformed dimwits because in the grand scheme of things it will make no difference.

Why do you think countless people are FUDing this? You just don't deserve it if you still don't understand it due to your lack of effort. We don't want you retards to get wealthy because you are like spoiled children.

Don't buy.

Chainlink will likely charge a higher fee than oraclize. If you want one decentralized Oracle to get your data cheaply you can use oraclize. If it is very important for your data to be accurate you will pay a higher fee so that a decentralized service with multiple oracles collectively retrieve your answer. Not all data requests will offer incentive for a centralized Oracle to alter data in their favor.

Keep believing a fairytale. Just remember that the math isnt in your favor

Good thing nobody cares about your faulty 1st grader math.

>>It is inherently inefficient: all the parties participating will require a fee and, for every request, it will take time before reaching a sufficient number of answers.
>lmao, they say that the fee is a drawback to decentralized oracles, yet they charge a fee for their service.
paying for gas for each of the 100 nodes you want to query isn't free. Chainlink will be significantly more expensive than oraclize for only a marginal benefit only some applications truly need. Node operators are going to get cucked.

They can't. There are enough altruistic and corporate cucks doing it for free for their own benefit that people who don't have their own data to offer will have zero chance of making money.

You can choose the number of nodes you use in ChainLink. There is literally no reason to use a separate centralised oracle when ChainLink gives you the option.

>Chainlink will be significantly more expensive than oraclize for only a marginal benefit only some applications truly need
>only a marginal benefit

The fact that a decentralized oracle network is absolutely necessary for high-value smart contracts means that the benefit will hardly be "marginal". When you say "only some applications truly need" a decentralized oracle network, you'd be right --- but that doesn't make LINK useless. On the contrary, it's the high value contracts that will be the most important.

>marginal benefit
>people will do an industrial scale thing for free

Who are you? The superidiot?

If you were to only use one Oracle you'd want a guarantee that Oracle was very reliable so using oraclize in that situation would make sense. As far as I know chainlink doesn't give you the ability to puck and choose through a marketplace of oracles. Just how many.

why are you sperging so much? did chainlink give you Stockholm syndrome from holding those bags for so long?

You really should make up your mind, pajeet. You either don't want people like me buying, in which case you should keep FUDing or ignoring my post.
Or you want people like me buying, in which case you should educate me on why I'm wrong.

Just kidding, it's so painfully obvious that you couldn't explain shit to anyone and you're just some random brainlet that fell for the memes. It's fun triggering you though. Go ahead and tell me more how (You), the chosen one, master race, don't want to get me wealthy.

Anyway, thanks for the laughs. I shit you not, I laughed out loud while reading your post.

topkek.exe

>buy 100k Chainlink for 0.15$, sell at 1$, rebuy at 0.50$.

What a load of heavy bags.

But yeah, just stay away. I am not trying to shill it to you, just don't buy and we are both happy.

you can control how much nodes deposit for colateral to give this sorta PoS security.

>As far as I know chainlink doesn't give you the ability to puck and choose through a marketplace of oracles
That's exactly what it gives you. "Read the whitepaper" is a meme for a reason. p5

Finally someone discuss the pricing.

This is the most important issue, and nobody ever talked about this. Everyone is about price singularity or potential SWIFT partnership or big corporations like AXA and Sony testing Chainlink or Tesla employee working on github.

Not a single person call Oraclize and ask how much they charge for using oracle.

Greedy dumb investor get brainwashed by the price singularity beautiful utopia. The first thing smart investor do is contact Oraclize and aks them about oracle pricing and estimate the price of Chainlink based on Oraclize's pricing.

>estimate the price of Chainlink based on Oraclize's pricing.
This would be smart if ChainLink were offering a comparable service and weren't completely revolutionising the space.

Pricing doesn't really matter as much as volume going through the network.

And I don't believe the volume will be comparable when LINK gains mass adoption in the near future.

In Sergey's end of year update he said that 19,000 people had expressed interest in being a node operator.

Uh yes it does. A small fee x a very large number of chainlink network calls / hundreds of nodes is a very small number.

>Oraclize, which for 99% of cases is enough security.
the only reason smart contracts aren't used anywhere in the real world except for scammy gambling sites is because it's NOT enough security
oraclize is 100% useless to any serious business

look at the etheroll smart contracts. People are betting hundreds of thousands of dollars. Look at the code, the contracts are all public and audited you cuck, there's nothing scammy about the legit gambling dapps.

ILLITERATE PAKI

Are you retarded? What does the contracts being audited have to do with anything?
I could be the owner of one of the gambling sites and be paying the oraclize dev in secret to rig my players' rolls and you would be none the wiser.

>hurrr this russian illegal gambling site uses oraclize chainlink has no use!!!
imagine being this braindead

Is the ripple rally really over at a dollar and 8 cents? Lol.

btfo

You don't need hundreds of nodes for a single call.

>it's so painfully obvious that you couldn't explain shit to anyone
Yawn. Another arrogant lazy brainlet getting FOMO from the memes but doesn't have to brainpower to figure out if it's a prank or not

>he didn't read the ethroll faq
goddamn this board is dumb. You can make sites like that 100% provably fair without a decentralized oracle you dumb fuck. Please do a modicum of research before posting.

Decentralization is a meme. You still have node reputation, assuming that some can potentially cheat

Cross-chain connectivity is a meme. You can't guarantee that both parties send their funds by using smart contracts alone.

>math isn't in your favor.
You are a brainlet faggot.
>inb4 muh marketcap

>You can't guarantee that both parties send their funds by using smart contracts alone.
actually you can but it means that the funds have to be in escrow before the smart contracts' terms begin. This is one major downside of smart contracts most financial institutions are dubious of because otherwise you'd be right.

Yeah rolling a DICE can be provably fair, aka the most basic and least interesting form of gambling.

What about betting on events? Elections, sports, etc? How is that “provably fair” without an oracle?

Ethroll does use an oracle you dumb cuck.

>claims to be fast as a REST api
>using ethereum

if only you knew how bad things really were

This is true but it's not like it matters for most of the use they've talked about.

From T Hodges in slack:

>Right, nodes are not _competing_ for resources, since they can't even tell if they would be selected for a job or not. I think part of this confusion stems from when we used the term "bidding process" as if it were like a live market, and could be a race to the bottom. This is not the case.

>When a smart contract creator requests data, the number of nodes, and reputation, There's only 3 "yes or no" factors at play here:
- Does the node offer the data?
- Is the offered price acceptable to complete the task?
- Does the node have enough reputation?

>I've gone over the first point previously. If the API is open, then essentially all nodes could offer that data. Otherwise it would be up to the node operator to utilize an external adapter to make that data available.

>The second point will be based on a configured parameter for a given task type. The good technical details for this aren't available yet, but the short explanation is that it will be used like a minimum amount in order to accept the job. So if the node has to do some complex computation, or retrieve data from an expensive data provider, they could use this parameter to prevent operating at a loss.

>The last point is one that I see the most confusion about. Reputation is a boolean factor for node selection. Meaning a node either has _enough_ reputation based on the chosen reputation provider, or it doesn't. Having higher reputation than other nodes doesn't rate that node higher than others as long as those others also have _enough_ reputation. Those nodes with enough reputation will be randomly selected based on the amount of nodes the contract creator specified.

absolutely irrelevant to this discussion

>worth 3 Trillion USD. If LINK could capture just 3% of that market, it would have a mcap of $30 Billion
3% would be 90 billion

they're building a system that can't scale and they know it - a slow and laggy oracle system won't be accepted by most major companies when existing data sources are both faster and cheaper

skelly is working on sharding tech to fix scaling issues with eth

Why does noone else get this. Whoever is making a contract that needs external data gets to specify in their SLA (Service Level Agreement) with the ChainLink network exactly how many nodes they require (they can even manually choose specific ones) and which aggregation contracts they will use.

This means for some more trivial cases (no big money on the line) an SLA can specify that the fee be cheap, but that it'll only require one node, or just a few. On the flipside, a financial smart contract - the market we're all excited about - which could be handling hundreds of thousands to millions of dollars can specify that it requires 1000 (or more!) unique nodes with stellar reputation. Of course, for this kind of heightened oracle reliability and security, they will need to offer a greater fee in their SLA.

You need to see beyond turf wars my friends and see ChainLink for what it is... the Amazon of Oracles.

I feel you, bud. Some of the FUD is real, most is shitposting, and any energy spent responding to any of it is wasted. I bought in to hold for several years, I'm not expecting anything of it any time soon

>Oraclize
Didn't they go down last week? Their Twitter is also unprofessional as fuck and went "DON'T PANIC IT'S FINE".

kek.

Protip: the Link token could literally be 1 billion USD per token, and you could still pay someone 1 cent worth of Link.

Also, gj trying to estimate the usage fee for something that is only beginning to start to commence.
Smart contracts aren't even in their infancy yet.

See It's pretty hilarious.

>This means for some more trivial cases (no big money on the line) an SLA can specify that the fee be cheap, but that it'll only require one node, or just a few. On the flipside, a financial smart contract - the market we're all excited about - which could be handling hundreds of thousands to millions of dollars can specify that it requires 1000 (or more!) unique nodes with stellar reputation. Of course, for this kind of heightened oracle reliability and security, they will need to offer a greater fee in their SLA.
brilliant. this kind of customization based on security needs is why LINK is so exciting and, I think, going to be very successful.

and if you idiots honestly think a centralized solution like oraclize is all smart contracts will ever need going forward, lol. ok. go buy some oraclize stock or whatever. best of luck.

>shit service is cheap
Wow user, thanks

There's less shitty API calls that cost .15 cents too

The price in usd for an api call wont be the price of the token itself
The price of the token will refflect the value of the network

These whales are getting desperate for sellers...

Absolutely beautifully put.

But quit spoonfeeding the brainlets. They don't deserve to go to mars with us

>As far as I know chainlink doesn't give you the ability to puck and choose through a marketplace of oracles. Just how many.

Wrong.

It's so painstakingly obvious that OP is the manchild running Oraclize. Even the way he writes is the same.

not quite, the "ranking" of nodes is a boolean value, as long as they meet the requirements for node-reputation
See

so you're saying developers are working hard to create decentralized blockchain ecosystems just to introduce a centralized point of failure as a data source because it's cheap? That collection of tweets from different developers complaining about oraclize service interruptions pretty much tells you 2 things:

1) you get what you pay for

2) chainlink is necessary to keep data-driven smart contracts trustless from end to end.

Chainlink is going to use any and all blockchains/smart contract platforms out there.

Educate yourself, dumbass.

Why does unibright call chainlink a "smart adapter" ??