LINK flaw node value

If a node operator wants to have$50,000 of collateral and puts up 100k link at 0.50

If link drops in value to 30 cents

Then the collateral us worth less, yet the reputation is reported at $50k

Attached: 1534111180229.jpg (400x711, 41K)

Hence the reputation tied to collateral by node holder is not in fair proportion.


What happens then

you dont use 10 grand as collateral also collateral is used when the request is done with the transfer and call method.

so basically a request to an api costs 10 cents you request 100 cents as collateral in case the request fails
you do that the moment the request is made.

i dont jnderstand what do you mean by 10k $ as collateral

Wow you know your shit.

What this retard is trying to explain. You exchange 10k worth of link the moment a failure happens.

The real question is: who the fuck would pay $50,000 for an alarm clock function?

Service agreements last for as long or as short as the requester specifies, and as long as the nodes involved will agree to (they have config parameters specifying a min and max). If the requester feels that there will be too much market volatility over a long period of time, they can simply make the service agreement for a shorter amount of time, and "renew" it by creating the same agreement with the same spec, but different payment and deposit parameters.

kek

You’ll pick the amount of collateral necessary based in dollar value or even better you can just have a Chainlink powered derivative contract for the collateral to hedge.

I shouldn't have to wake up one second before its time. It costs what it costs.

What are you even talking about, lmao. Are you new?

If a bank wants to validate X data for a 150 million dollar transaction he wants the highest collateral as possible. If I call the 100 top nodes with the highest reputation I hope every node can put at least $150,000 as collateral or organized attacks will happen to harm my bank. That's the fucking entire point of Chainlink collateral and pools.

Collateral is a meme to push the $1000 eoy propaganda. Penalty deposits ensure the node doesn’t bail in the middle of a job. They do not and can not insure the value of the contract. As such, the volatility of link is unimportant- more important is the node operator’s continued belief that their link is valuable enough to avoid losing it.

That's where the USD pairs and Bitcoin decoupling comes in. Link will effectively be a stable coin @$5k

>$150,000 collateral
150 tokens
lol

this kills the stinkies

Based and linkpilled

based and alarmpilled

Are you new or something? Did you buy because of the recent pump, and actually fell for the link meme? holy kek. or are you trolling?
Listen, what you're saying is pretty fucking basic. Chainlink is a MEME, it has SO many flaws, you've named one and there are many more, it will be impossible to work. Not to mention that the whitepaper explicitly states that the price of 1 Chainlink token should not ultimately be much more or less than the price of a cup of coffee.

link is a MEME, no one here actually holds it.... lol, you didn't actually buy did you? cuz it sounds like you're genuinely concerned about your investment.... well guess what, you should be.

Link is implicitly tied to the price of $1 acording to the partial derivative velocity equations outlined in the whitepaper. Read the whitepaper.

The smartcontract creator can dictate how decentralized and secure the node network will be.

So in this case the SC might want to deal with 50 or 100 oracles not just 1 oracle. Thats what your missing. Think bigger.

I can see some contracts asking for up to 1000s to 10s of the thousands of oracles.

So you stake 1000k link and have the smart contract pay out whatever number of link reflects the $ value that you want to commit to pay out as collateral. Now it would take a 90% drop in the price of link to to disrupt your contract; which is unlikely in the short/medium term

Nice fud, but link isn't stopping at $5k.

OP please stop trying to scam people with chainlink

Attached: 2960FA45-34A2-4F54-88EA-910CA5EEDEC6.png (300x250, 8K)