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Posted on 10/3/18 at 8:53 pm to jmcwhrter
Had a bithumb listing that caused a pump
Posted on 10/4/18 at 6:28 am to CE Tiger
I think you are missing the scope of possibilities that fall under "micropayments".
Posted on 10/4/18 at 10:07 am to Douglas Quaid
Opinions on this?
Posted on 10/4/18 at 10:34 am to Sultan of Swing
I believe a "one world currency" is inevitable and crypto/DLT tech is the front runner for that when it eventually happens. However, the when is nearly impossible to predict. Could be 10, 25, 50, 100 years from now.
I don't believe the US government is behind Bitcoin. There are many other governments which would love for something to challenge the USD...
I don't believe the US government is behind Bitcoin. There are many other governments which would love for something to challenge the USD...
This post was edited on 10/4/18 at 1:55 pm
Posted on 10/5/18 at 11:59 am to Douglas Quaid
Nice little link pump today
Posted on 10/5/18 at 9:41 pm to CE Tiger
Posted on 10/6/18 at 5:25 pm to CE Tiger
quote:Ok. So I went to the the creator page trying to understand this. Let’s take the flight tracking, since that’s the example I’ve seen for the smart contract.
Pump It
Their example was: a user buys flight insurance from a company, and the contract is recorded on Chainlink. So far this makes sense, but apparently this is already being done on others blockchain, so what supposedly separates chain link is that when the contract is written, there is a request for multiple sources to verify the data, instead of just one (like Flightaware). And then the system pulls the data from the sources, and provides an average estimate, and that estimate is used to determine if flight insurance will be paid out or not.
Then apparently sources are scored based on what seems to be a karma system (like in reddit) from the traveler and insurer and the accuracy of the source estimates based on the deviation from the offical estimate. And the higher the scores the more “credible” a source is considered.
The logic behind the process itself makes sense, but it seems unnecessary for the flight insurance example, and every other example I’ve seen. I mean, why would data come from any source but the offical flight record from the airline. And since the data sources on Chainlink, or the data sources that they pull from (Flightaware) are all probably basing it on that same source.
So it not only seems unnecessary and redundant, it’s basically just a centralized source anyways. And worse yet, it would undoubtedly be more prone to sampling error, or worse, then just using the official records.
They call this trustless, but that’s a misnomer because we’re still required to trust that process, and I would trust it less. So it seems to me that the examples don’t really solve a problem, they seem to complicate something simple and not problematic.
So I’m sure there are useful applications, when the data is harder to verify and more prone to error where multiple sources would diminish this error. Until then, I just don’t see why this would be revolutionary and have any mass adoption.
And between the botched ICO, a super tiny team, and that they had a bunch of spelling errors on their website and they didn’t correct for sometime until users on the Chainlink subreddit complained, it just seems like poorly ran endeavor.
Posted on 10/6/18 at 6:11 pm to buckeye_vol
Not gonna really argue with you. I’ve seen enough about the team and who they are working with and the type of conferences and presentations they have been asked to present at to know this is legit.
Posted on 10/6/18 at 7:27 pm to CE Tiger
quote:Who are they working with? Swift is the biggest name, but all I’ve seen is based on being selected for PoC, but they weren’t even the only one who Swift has selected. So that’s promising, but not a partnership for Chainlink’s system. The rest all seem to be crypto/blockchain focused companies, all probably completely unknown to people outside the niche.
I’ve seen enough about the team and who they are working with
So how do they expect to get adoption from companies and consumers outside the niche, especially with a tiny team? My college roommate is a COO of a tech firm, and has been there from the beginning team, who works with a lot of major companies. And he and other execs and employees (with multiple offices in the US and Europe), are dispatched around the world (he texted me from London today) to handle the partnerships with businesses.
That company, while successful and expanding, with a number of Fortune 500 clients, is still relatively small, yet they have hundreds of employees.
But a year after its official launch, Chainlink, still has something like 5 total employees, including the execs? So a year after they publicly set out to revolutionize a technology and create mass adoption, which was supposedly years in the making before that, and they have fewer employees than a local gas station?
quote:I didn’t say it wasn’t a legitimate an venture. And it’s an idea that is interesting enough that it’s not surprising they get to present it, especially at conferences in its niche. But I was surprised to find TED talk from a guy I’ve know since middle school who lived in my dorm, who has apparently got a small but successful little company with a unique idea. I’m not expecting, nor is he planning, for anything near what your hoping from Chainlink, and TED is a lot bigger than the presentations they’ve presented at.
and the type of conferences and presentations they have been asked to present at to know this is legit.
So why would “where they’ve presentated” be a very useful metric anyways, especially since an idea is not the same as successfully implementing it.
While I’m a skeptic, but I’ve asked you numerous questions that I’m legitimately interested in. And all you can provide is the same stuff you’ve seen with your eyes, but the same exact stuff I found when I went to its subreddit? I’ve been researching this over the last week, and you and all the other enthusiasts, just keep saying the same stuff, a bunch of buzzwords, news from their Twitter feed, and some nonsense from 4chan.
Maybe you’ll be right. But like most of the crypto/blockchain world, it just seems to be made up of a bunch of people who either know little about the technology, how it will actually be adopted in mass to disrupt and/or revolutionize the world, and/or actually have the knowledge but can’t effectively communicate it to outsiders.
And I wouldn’t be surprised that if the technology does revolutionize all these things, came from some companies that nobody talked about before it happen, because never had an ICO, because they got private capital and probably intend to go public, and actually offer equity in the company instead of trying to say a coin is actually equity in the company.
This post was edited on 10/6/18 at 7:37 pm
Posted on 10/7/18 at 10:23 pm to buckeye_vol
Posted on 10/8/18 at 7:33 am to buckeye_vol
quote:
And since the data sources on Chainlink, or the data sources that they pull from (Flightaware) are all probably basing it on that same source.
This actually seems like a great point. I wonder what real world examples exist without that single source of truth.
Maybe something like GDP country aggregation.
I’m going to ask your question in the Link telegram
This post was edited on 10/8/18 at 7:35 am
Posted on 10/8/18 at 9:09 am to Sultan of Swing
If you look at the evidence out there, it's pretty clear the frontrunner for being Satoshi is Nick Szabo, and he is pretty much the opposite of government friendly. 
Posted on 10/8/18 at 1:29 pm to LSUtoOmaha
there will be a crypto meet up tomorrow from 6-8 at Huey's on 3rd with the guys from the Tour de Crypto. It is my understanding that there may be some free food there.
Posted on 10/8/18 at 1:57 pm to bee Rye
You going?
Posted on 10/8/18 at 8:55 pm to CE Tiger
One more link shill
quote:
Smart contracts are essentially a piece of software that can automatically execute an action based on a set of conditions. This can have a number of use cases: salary payments, insurance payments, delivery payments, futures trading, mortgage, etc. The value proposition of blockchains like Ethereum and NEO is that they are platforms upon which smart contracts can be run. If you think about it, a blockchain without any dApps is completely useless right? Well, a dApp is essentially a bunch of smart contracts. For some dApps, there is no need to access outside data (e.g. crypto kitties). For the vast majority of use cases however, you will want to access off chain data (only data contained in the blockchain is accessible by smart contracts, while standard web APIs are inaccessible) such as the price of an asset, weather information, location of a package, etc. That is impossible to do with any blockchain today. The solution? A middleware typically called an oracle which can feed a smart contract with off chain data. Basically, the middleware will listen for requests made to a specific smart contract (e.g. a smart contract to get the price of btc in usd), it will then make an API request to get the information and will finally send back the data to the smart contract. The problem with this solution is that if the middleware is centralized, you have lost the security and resilience of smart contracts. If the middleware is centralized, one could stand to earn a lot of money by sending to the smart contract false information (e.g. price of btc is 1M vs 6k), or it could just fail which would render the smart contract useless.
To fix this problem, the company SmartContract has been working on a blockchain agnostic decentralized oracle. The key here is 'decentralized'. By having a network of nodes which will all make an API request then aggregate the responses to feed back data to the smart contract, you can ensure security and resilience of the execution of a smart contract end to end.
This network of nodes need an incentive to be kept running and to discourage them from sending false data. As such, the company SmartContract had an ICO for the LINK token to be used as payment for node operators, as well as collateral in case of a node acting maliciously.
Without a decentralized oracle, blockchains will have very limited use cases and it is unlikely that we will see the financial world adopt these new technologies as the cost of migrating would be excessively high. In terms of ROI potential, having a decentralized oracle solution isn't the only problem the blockchain space is facing, and as such there is surely a great ROI awaiting those who invest in blockchains who are on track to solving the scalability problem, but solving scalability is something that many projects are already working on and in the future, there will surely be multiple platforms with a high TX/S rate. On the other hand, the oracle problem is something that every blockchain platform will need to address (if you want dApps that are more useful than just crypto kitties, e.g. legally binding smart contracts, insurance payments etc.), and today it seems like the leader and only provider on track of delivering a solution for a working decentralized blockchain agnostic oracle is SmartContract with ChainLink.
Posted on 10/11/18 at 11:13 am to CE Tiger
I just bought some link. Really haven’t done a ton of research. Hoping it works out. I figure this is a good time to buy. This market has to turn around soon doesn’t it? Whales need new money.
Posted on 10/11/18 at 11:52 am to HottyToddy7
I'm back in cash with my losses until 6130 is tested and holds, or we get some kind of bull break on the weekly close.
Posted on 10/11/18 at 1:52 pm to HottyToddy7
quote:
market has to turn around soon doesn’t it
not until China up values yuan by 3x.
China has interesting issue. Their west is 3rd world.
Their east is top drawer.
The rest has pockets of wealth amid poverty.
If I were the red army id set up two economies and two currencies.
Posted on 10/11/18 at 4:33 pm to CelticDog
I don't understand why bitcoin goes down with the stock market goes down. I guess people who have a bunch of money in stocks get nervous about holding something as risky as crypto and get panicky and want to get out?
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