Daily reminder that LINK is kill.
Daily reminder that LINK is kill
Wyatt Martinez
Other urls found in this thread:
reddit.com
medium.com
papers.ssrn.com
ethereum.stackexchange.com
reddit.com
twitter.com
Nicholas Green
Didn't read
Carson Gutierrez
Daily reminder after much consideration, Sergey gave Thomas permission to respond to this on r/chainlink, where he destroyed these fools.
Jack Edwards
can you shorten that? i'm not about to waste my time reading that shit
Josiah Stewart
1/3
A smart contract which could possibly hold millions of dollars needs to be evaluated end-to-end, as Sergey explains in this talk. An ideal scenario would require multiple data sources in order to validate data against peers, as discussed in our white paper in section 4.1. This is because no oracle service, decentralized or not, can validate if the obtained answer from a data source is truly correct, only that the provided answer is what the source said it was (the last few sentences of section 5.3 gives some insight into this). Using multiple data sources would obviously be optimal as it would fit in well with the trustless setting. If one data source is providing faulty information, that is easily caught before a smart contract could execute based on the data provided by nodes retrieved from other data sources.
Sometimes, utilizing multiple data sources is simply not possible because there is only one source available. When this happens, that data source would be considered as a single point of failure for the smart contract. It would be entirely up to the smart contract creator if they are willing to accept that amount of risk for their contract. However, using multiple oracles as the trigger for the smart contract, even if they're all connecting to the same source, is still advantageous over a single oracle acting as a trigger for the smart contract. This is because a centralized oracle would be considered another single point of failure.
Liam Parker
>Didn't read because I could barely understand what the hell was being talked about in the second sentence and I already went all in on LINK because Veeky Forums meme'd it
Fixed
Evan Long
2/3
It seems to me like the argument of using a notary for a centralized service being better than a decentralized oracle service isn't fully acknowledging the need for an end-to-end trustless smart contract ecosystem. Regardless if the centralized oracle knows what it's processing or not, it can still go down and prevent the smart contract from executing when it needs to. Utilizing centralized services sounds like the present day, where if someone doesn't fulfill their obligation of the agreement, you sue them (which has additional costs and headaches of its own). So it makes sense why this reasoning seems valid at first glance, because that's the world we live in right now. In a trustless world, however, relying on centralized services is simply too much risk. Why would one choose to use a single data source, with a single oracle, feeding data to a decentralized smart contract?
If we have a single data source as the sole supplier of some information, what can they do as we head towards a trustless world? They could create multiple independent endpoints for their API in order to provide some level of redundancy. This would at least prevent a single endpoint from being a point of failure. However, it would still be up to the smart contract creator to determine if that reduces the risk enough to use as a factor for their contract, since it still does nothing to validate factual information.
Nathan Allen
Xavier Sanders
3/3
We can even take it a step further and say that the data source doesn't even want any 3rd parties connecting to their API. How would they provide their data to smart contracts? Some may say that they will create their own oracles, I don't think so. There are a lot of technical issues that need consideration before one can simply create their own oracle. How do you handle blockchain forks, rollbacks, congestion, varying gas prices, etc.? Chainlink already has solutions in place for all of those issues. It would require significantly less effort to create an external adapter for their own API and run a node (or multiple for redundancy) than to start at the beginning of creating a specialized oracle.
Connor Young
nootropicat is so hot right now. he just utterly btfo the whole chainlink team.
Joseph Allen
YOOOOOO THIS NIGGA KILLING THEM AGAIN AAAAAAHAHAHAHAHAHA
HE'S RESPONDING TO THEIR BULLSHIT AS WE SPEAK
WE WITNESSING A LIVE SLAUGHTERING
Angel Perez
get your anus ready, sergey is aboutt o shove his big chainlink into it.
this guy is going to get rekt
Brayden Murphy
This
Chase Collins
To:dr
Mason Stewart
>user name nootropiccat
yep stopped reading when i saw that, fucking retards taking caffeine pills thinking they are the guy from limitless
Anthony Price
YOOOO MY NIGGER AYO FAMILY WE BE SEEIN SOME FUNNY STUFF ON REDDIT.COM
Cooper James
This shit essentially boils down to supercomputes on every city. This autist can suck a cock.
Dylan Hughes
>would you prefer storing your coins on coinbase, or allowing 50 link nodes to decide who owns them?
Xavier Johnson
you sound emotionally attached, you sure everything's alright?
Ryan Lopez
CL better respond or I'm selling
This debate will decide the future of Link
Josiah Phillips
>That's not the question. The question is how are several link nodes better than several oracle companies with a contractual obligation
You ain't gonna use multiple oracle companies to do one API call are you?
Ryder Ramirez
>hurr ETH will make its own oracles
All ETH can do is rip off Chainlink.
And Vitalik himself said oracle solutions would be built on top of ETH, which is supposed to be a base layer.
>hurrdurrr the APIs will make their own oracles
Regulations like PSD2 will force banks to open up their APIs anyway, it doesn't fucking matter if the APIs create their own oracles.
What a retard lol.
Nathaniel Cruz
>would you prefer storing your coins on Mt Goxx, or allowing 50 bitcoin mining pools to decide who owns them?
Daniel Russell
As a Link holder myself I have to applaud him for this arguments, curious how Sergey get out of this one
Adam Russell
Really makes you think
Adrian Murphy
a well timed stinky fart oughto do it
Noah Lopez
they already did, that was the dev
I'm honestly selling now
Luke Russell
Luis Jones
why not just keep the shit in my hard wallet.
Adam Diaz
>my nano s will protect me from a 51% attack
Luis Jenkins
>pic related is Chainlink right now
Xavier Phillips
The 50 voters would vote over 51% for you to store your own coins MEW. So yes.
Colton Rivera
im not talking about a nano s lol
Kevin Kelly
forgot to green text
>He thinks im talking about a nano s
Angel Parker
I hate to break it to you user, but you might be clinically retarded
Ryan Scott
1/10 FUD, I read better FUD here every day.
Nothing in crypto has a contractual obligation to anything. Good luck getting your shit from Oraclize, which is an LLC registered in London with banking in Singapore. If you are lucky you will get $20,000 from them, because that's what LLCs are obliged to pay in the worst case scenario.
You really want to trust multiple anonymous nodes over real people who will take your shit. The retards who stored their shit on Mt.Gox, Bitgrail and multiple other exchanges and platforms learned it the hard way.
Blake Robinson
Just fucking lol, I hope you are just pretending to be retarded. No wallet will save you if the majority of miners decide to fuck with the blockchain moron
Levi Stewart
This shit right here is what I've been trying to explain to every fudder.
Solving the "oracle problem" depends on your interpretation of the oracle problem. The "true data" problem will never be solved and this is not what Chainlink is about, it's not about whether some company's data stored on their own servers is absolutely correct data.
I found some article that describes what Chainlink is actually trying to solve.
>medium.com
>"Since an oracle determines what a smart contract sees (i.e. it controls the inputs to the smart contract) it also holds the power to control what the smart contract does in response to these inputs. This means that oracles possess an enormous amount of power when it comes to smart contracts (especially in prediction market contexts). If the oracle is compromised, so is the entire contract; this is one reason why centralized oracle services are not considered a serious solution to “The Oracle Problem” in most cases. To put it simply, as soon as you make a smart contract rely on a single central oracle, you have totally sacrificed any decentralization-related benefits (which makes it arguable whether you should be using a smart contract at all)."
Samuel Adams
So did they announce a partnership with Swift or not?
If they haven't by now then it's never going to take off.
Cooper Ramirez
>majority of miners decide to fuck with the blockchain moron
why would they kill the cash cow moron
Jaxson Cox
Yup just sell now. Don’t wait for when they said they’ll announce stuff
Josiah Watson
How the FUCK do i buy chainLINK?
NO TRADER SELLS IT AT ALL.
and if biz is saying that its going down (and biz is ALWAYS WRONG) then its worth getting NOW.
Where do i buy/exchange for it?
Nolan Gutierrez
Holy fucking shit you retard. That's the whole fucking point. A wallet is safer than coinbase or whatever, because there is little incentive to fuck with the blockchain, even if one was able to get 51% of mining power. But if such an attack were to happen, no wallet will safe you. You don't believe that a hardware wallet downloads and stores your coins or something?
Ian Hall
papers.ssrn.com
try again, faggot. why dont you do a ctrl+f search for chainlink. muh use case, muh 2 man dev team. go FUCK yourself
Kevin Robinson
Yes, they're developing a custom oracle for swift
Nathan Ramirez
They never announced any partnerships with anyone. Other companies announce partnerships with LINK.
Docusign said they will be working with Sergey yesterday and there are already 4 coins that will be relying on LINK oracles in the future.
Christian Moore
binance
Samuel Phillips
written by a bizraeli. disregard
Dylan Allen
>The oracle problem is about getting true data
These are the trenchbrains fuding Link, fucking L M A O.
Gabriel Collins
For USD or do i need to buy >memecoin or ETH to exchange?
Blake Green
are you trying to argue just to be right or something? your arguing hypotheticals you fucking dunce
Jacob Williams
Dude he's buzzin on Modafinil you wish you were on his level
Jace Jones
Wat? Is he really?
Easton Jones
ETh on coinbase or some shit then send to binance and buy link
Ian Reed
binance has no fiat pairings
buy btc/eth, transfer to binance and buy link there
You obviously have no idea how wallets, crypto and any of this works. I tried to correct that, but I'll stop that now.
Jason Gomez
>Ok, so would you rather store your coins on coinbase, or in a smart contract that transfers the coins if a majority of 50 link nodes agree?
lmfao he's at it again
Leo Harris
The general rule that has yet to fail me:
When a crypto has a few daily Veeky Forums threads maximum, each with a couple dozen replies and a fair amount of FUD...stay away
When a crypto has dozens of daily Veeky Forums threads, and three or four of those daily threads have hundreds of replies and a shit ton of FUD...BUY IMMEDIATELY
Jaxon Thompson
>Well yeah, I can just fork the Chainlink code, how will you deal with that?
Jesus, do these people think a minute before typing this shit?
Grayson Bell
Sign up for binance (with my referral if you want 11288513), send some btc or eth on over, and buy it.
Dylan Jackson
Is this faggot trying to fud the very notion of decentralization just to take a shot at Link?
What the fuck, man.
I knew Link was subject to a double standard, but this is getting weird.
Caleb Clark
I will use your code, friend.
Let's take the chainLINK train to lambo land.
Sebastian Richardson
No he’s a meme
Christopher Myers
Do not get it at this point? I'd buy link even if it crashed and burned so I'd have the top wallet. I'll run a Link node regardless of whether it's profitable. I don't think you understand OP.
Daniel Barnes
>papers.ssrn.com
Big if true
>>Ok, so would you rather store your coins on coinbase, or in a smart contract that transfers the coins if a majority of 50 link nodes agree?
What a dumb analogy, storing your own coins is not the same as transferring funds to the other party via a self-executing smart contract
>all I have to do is download code from github and boom LINK is fucking finished
>pic related
Jacob Lopez
This.
Fuders always jump out with their
>hurr durr single data source
bs
Imagine this you fucking brainlets
you have a friend you trust and you need to send him a letter, all yu both need is a reliable mailman, and that's what Chainlink is, it's not about making ensuring both ends are safe, it's about the part in the middle
you don't trust that source? no one is forcing you to requesting their data, it's not CL's problem
Dylan Richardson
Andrew Campbell
Some of his arguments about just having real contracts might be right for now, but it's missing the point and a bit disingenuous, at least as far as I understand it. Still, even if he's starting to repeat himself and that argument might go in circles now, a lot of his points seem fair and I would need to look more into them (once I get hopped up on piracetam and l-theanine).
Blake Morris
Holy shit this guy didn't even skim through the white paper.
Why are people even paying attention to this generic shitfud?
Bentley Mitchell
This guy is the biggest brainlet. That's not how it will work, ChainLink will use averages, it expects that different APIs will provide slightly different results.
Cooper Jackson
>there is no incentive
>link assumes that majority is always going to be honest just because
HAHAHAHAHAHHAAHAHA opinion fucking discarded
Thomas Flores
Asher Wilson
he's an idiot, every possible vector attack was worked through by some of the top minds in this bussines including Ari jules (no it's not a meme, look up his background) and some absolute faggot thinks he "exposed" the entire idea with his elementary school reasoning.
Nathaniel Ross
That guys going to be seething after that question lol. I’m thinking 3 paragraphs
Noah Bailey
Ok so the Oracle can only verify if the sources from other data sources is true, but not the actual data itself, am I understanding that right?
So what would stop some scammer from creating their own coin and fucking with the integrity of the data (ie: 51% dishonest nodes) and seriously inflating their value?
I guess the counter to this is, is this even the Oracle's problem to worry about?
Ethan Gutierrez
I'm too chicken to post there but what he talks about when he says you can use a notary is pretty much what Oraclize is doing. That approach has problems as described here:
ethereum.stackexchange.com
Cooper Howard
Thanks bro
This. Link marines serve with honor.
Justin Torres
He's right. Link is far from the only one who's vulnerable to this (aren't they all?) But he's not wrong, no?
Angel Morris
Buy any coin on Coinbase. Transfer said coin to your Binance account (don't fuck this part up or your coins will disappear). Buy LINK with the appropriate coin pairs
Adrian Foster
Then why would someone run a node connected to it and why would someone use the coin?
James Roberts
Haters gonna hatem. This is likely coming from a competitor.
Ian Gray
The scammer would still have to have a useable coin. Otherwise the oracle wouldn't even need to bother. Coins aren't immune to basic use cases for people still, if there isn't a legitimate and genuine reason for it's existence, it will not be used.
Noah Kelly
I thinks it might be this salty italian faggot from oraclize (still butthurt after Sergey wiped the floor with him at devcon) or some mobius pejeets
Blake Ramirez
He already responded, just cut it out
reddit.com
Lucas Morales
I mean in the case of a seriously centralized coin, like a few big whales own a vast majority of the coins and nodes.
But I guess that comes back to the other part "Is this even the Oracle's problem?"
Similar to the "Oracle = notary" analogy in
So the Oracle only verifies that the parties's representations are accurate, but not the underlying data for the representations?
I'm not very tech savy so i'm just trying to grasp this on a larger scale concept
Gavin Gutierrez
He has a pretty long post history, but on Eth subs only. I doubt he's a shill for anything other than Eth (and he might not know other projects as much as Eth).
Grayson James
This. Not that difficult to understand.
Colton Wood
Yes the oracle's (chainlink's) only function is to input the data securely into the smart contract. If a contract executes on faulty data, and we know the Oracle is secure, then we know exactly where to point the finger: at the data provider.
Aaron James
Wouldn’t be surprised if op on reddit is from oracalize. They have the same fud on their website
Adam Green
He started posting around 3 months ago. Probably bought ATH and can't cope.
Aaron Cruz
Oh idk I don’t have a reddit lol
Oliver Collins
Please get some fucking help. Go back to stock trading you absolute idiot, you do not understand this tech.
>muh put them on a hard wallet guise xDDDDDD
Which fucking is "allowing 50 bitcoin mining pools to decide who owns them", which is safer than storing on an exchange, which exactly the argument the guy you're trying to say is wrong is arguing.
Joseph Lopez
How is there no incentive if the entire concept is based around reputation and validation of the nodes to provide the most accurate and reliable data so they would be prioritized for more requests and high value requests thus getting more profit.
>Link is far from the only one who's vulnerable to this (aren't they all?)
Are you talking about the 51% attack where majority of the nodes selected for the contract would be malicious and provide inaccurate data? Then yes I believe this is what most blockchains struggle with.
Carter Adams
You do realize how the blockchain works right user? You aren't storing the coins on any wallet be it software, hardware, or cold storage. You store your private key which gives you access to the coins on the blockchain. They never leave the blockchain
Logan Perez
These fud threads get fucking destroyed every time, and I just keep buying link.
Alexander Walker
am i happy that i don't have to response to this bullshitw
Hunter Cooper
That redditard is so braindead. He's arguing about "majorities" when blockchain itself is a majority vote system.
>durrr would you rather hold your shit on coinbase or in your own wallet
retardation beyond words
Isaiah Ramirez
Ditto.
Brayden Myers
This lol, I buy 10 linkies for every fudpost
Luis Ward
Can you guys just buying in honor of a fellow marine? Don’t have any spare fiat to throw in atm
Joseph King
>actually screenshotting an entire reddit conversation and posting it on Veeky Forums
kys