This is for stinky linkies only so if you don't have any just fuck off right now.
BLUF: Jow Forums needs to set up and operate a node as soon as it is possible to do so. There will never be fewer nodes than during the beginning and we have the potential to accrue a VERY high reputation rating which will massively increase the value of our node. This will lead to a positive feedback cycle as our reputation grows thereby encouraging more clients to use our node which then increases the reputation even higher repeat ad nausea. Now, we obviously have to first identify some key issues such as (including but not limited to):
>how do we securely pool funds for a single node? >how do we take profits? >how do we not have some rogue asshole fuck us all over? >do we create an LLC? >which country is our hardware in?
This is very much in the brainstorming phase and should be treated as such but the end goal is to have a Jow Forums node that will accrue a high reputation ASAP. If we could pull this off we could be a whale. We could be the bizwhale.
It sounds like you are just talking about creating another linkpool. Shouldn't we be focusing on learning how to make our own nodes?
As far as I know, one of the primary challenges to running a node is that you need to have 99% uptime. Unless you are very confident about your ISP and your power, I think the solution to that is to pay to have your node hosted by someone else. I know off the top of my head that Amazon services a massive amount of web hosting, but I'm going to do a little search to see what providers would be best for this application, so far as I can tell
The faster we lock up our nodes the faster we collect our free linkies from the 350m pool. Get in quick before it dries up!
Adrian Gomez
One service I like is Nearly Free Speech hosting. You can get 10GiB/day of bandwidth for abour $20 per year. They don't provide any tools for building websites though, you have to do all of that work yourself.
What data do you have to offer and why would anyone want it? These big institutions rumored to be using chainlink have their own data they want to get on chain, and they will do it via their own nodes. Intel sgx allows for off chain computation so these corporations can do what they need to do in private without anyone else being involved. Not trying to fud just want anons to be realistic
Jonathan Hernandez
>Shouldn't we be focusing on learning how to make our own nodes? No and here's why; on our own none of us have enough LINK (collateral) to insure the big lucrative contracts. If we pool our resources we could become a whale and have an enormous collateral pool. This will make clients feel really comfortable. I mean hell if something goes wrong they know they will be reimbursed. Our whalepool has the funds! Game theory suggests we will see 1-2 top tier nodes making most of the money. If you have a smart contract which node will you use? The one with billions of dollars in collateral or the one with a few million?
That's the first part of why clients will use our node for their contracts. The second part is that we will have a high reputation. If you remember LINK nodes have a reputation rating. If we set up a node with all of our LINK together we could have one of the first high-collateral nodes.
Everyone would be incentivized to use our node and the network effect could take over.
But how can we pool together and not get fucked over? That's what we need to solve.
Evan Collins
Two things; >collateral >reputation
If we can figure out a way to pool our link I am sure we could be a whale. We could have a node with a massive insurance fund. If we get this set up early enough we could have the first mover advantage. The first node with a fuck-huge collateral pool. No competitors will do this because the risk for a single entity is too high. But we are not a single entity. All of us together would be risking our own LINK but not total sum which could be huge.
This huge collateral pool leads to contracts running on our node. This then leads to our reputation rating going higher which encourages more people to use our node which cause our reputation to go higher which causes....
Tyler Smith
this is a good idea but the thing is I don't trust anyone one of you faggots
Jayden Bennett
who will pay for the hardware and api feeds? how will the reward be distributed?
If youre so sure why dont you make a node and smart contract demoing this very feature on the testnet right now
also this, I aint trusting an anonymous pool with shady contract with my linkies
Ethan Russell
I remember these things, but how do you know what a large amount of LINK is? You're just speculating on the future price of the token and the price of contracts. And unless I am mistaken, the network is designed such that each smartcontract will query a few nodes, not just the biggest one. Are you saying that one or two nodes will dominate every kind of information query?
I believe the thing to do is to start early so that the reputation garnered from uptime can outweigh a possible deficiency in stake.
I imagine that the answer to that question is limited only by a person's creativity and the API's that exist out there. I have wondered myself if there will be any demand for queries into the current value of items like stocks or metals or other things
Brody Baker
>I don't trust anyone one of you faggots >I aint trusting an anonymous pool with shady contract with my linkies For me this is our foundational problem but I think we can solve it. Like I said this is just a brainstorming session.
>why dont you make a node and smart contract demoing this very feature Not a bad idea!
Alexander Cook
>For me this is our foundational problem but I think we can solve it. Like I said this is just a brainstorming session.
This is not a big problem as long as someone profficient with solidity can explains to us brainlets what the contracts do and its feature, if clarity is very clear, I dont mind actually putting my LINK since the basis of the tech is trustless execution.
also looking forward if anything good come out of this, since linkpool takes away 25% of rewards
Easton Butler
>one or two nodes will dominate Yes absolutely. This is called Zipf's law. >futurelearn.com/courses/maths-power-laws/0/steps/12150 Those nodes with the highest collateral (the safest nodes) will get the most lucrative smart contracts which means they will also get high reputation ratings which means... You get it by now.
Imagine you want to host a real estate contract worth potentially $350 million. Which node do you use? Obviously the one with $350 million worth of collateral!
BTW it is becoming a massive pain in the ass to get past Google captcha. I mean just ridiculous.
Asher Gomez
>the basis of the tech is trustless execution. that's what I was thinking. I could see us creating an LLC and electing officers like the Venetians elected Doges. Voting power related to size of LINK stack plus a bit of randomness. Fuck this could be a big deal.
Christian Smith
Frens this is not an easy feat. Essentially it has to be a mini Linkpool. Lots of work is involved.
Samuel Young
captcha is a scam bro, I've spent five minutes doing one before. just buy a Jow Forums pass.
James Phillips
Run your own nodes you hopeless faggot, they've already made it ridiculously easy.
Ryan Sanchez
>Game theory suggests we will see 1-2 top tier nodes making most of the money. If you have a smart contract which node will you use? The one with billions of dollars in collateral or the one with a few million? muh decentralization
William Flores
You need more than 99% uptime man. 99% uptime is still 3,65 days of downtime in a year. I'll run my node in AWS I think.
Colton Morgan
I bet several contracts won't be happy with just 1 or 2 nodes, they'd want tens or hundreds
Camden Stewart
99% is the stated minimum from the chainlink team IIRC. But yes, it's not actually a very good uptime. 99.9% is a better baseline
Oliver Perry
Pretty sure I heard somewhere that each node is max 100k link
That's going against the idea of decentralization. We should be helping each other set up secure valuable nodes. The more nodes the better. That's the whole point of chainlink nah?
Xavier Anderson
If only there was some way we could all TRUST eachother. Some way of removing the need for TRUST
We dont even have to. We can set up a smart contract to do the payments. Put a small amount of linkies at the beginning so if anything goes wrong you only lose a small part of your stack. Those in linkpool are already taking that chance. We could even have a multisig contract to return the linkies to the respective owners in case of a massive failure
Easton Jackson
le epic delphi XD
Christian Bell
I put a node on AWS, but I'm too much of a brainlet to remote into the GUI. Does anyone know how to do this?
Leo Young
Setup a custom tcp rule in aws to allow your pc (src ip your internet ip) access to the instance on port 6688 the hit your-aws-instance-name:6688 from your pc
Isn't that what smart contracts are for? So i don't have to trust any of you lesbian faggots?
Nicholas Rivera
When link hits 68$ I'm selling 7k link and buying 500 million holo
Tyler Edwards
Checked back at ya
Brayden Sanders
LINKPOOL.io EXIT SCAM. MESSAGE FROM JONNY BELOW
>Two issues, one was a display issue causing peoples UI not to update. This one caused an issue where an individual who wanted to cancel an order couldn't and it got filled.
>Second issue was ETH being sent back to the person who filled a sell order rather than to the seller. If you think you was affected by this problem, when we come back online that order will be reverted and your tokens will be back on the dashboard.
