>Let's say Standard and Poor's isn't running a Chainlink. Let's say there's a third party developer who has a resale agreement with Standard and Poor's and they wan't to resell S&P data...
Oh shit, you have a resale agreement with your node API provider, right user? Right? user?
Don't tell me you're going to be providing some free weather data endpoint for $30 of profit per year.
Oh that was... that was your plan? Oh ok...
Other urls found in this thread:
sibos.com
eba.europa.eu
braze.com
twitter.com
25:15 btw
thecaseforlinkpool.png
Has Jonny alluded to the kinds of APIs LP nodes will connect to?
Sigh... Obvious FUD attempt is obvious.
Sergey even explains how its handled.
If the S&P data is public, then you're not paid for the data, but just for providing the data. Which is fine.
If the data is behind a pay wall, then you would encrypt your API key and have it decrypted in the TEE. This is fine because API keys have a short TTL and therefore no security risk.
Now kys
>if the S&P data is public
It's not.
>If the data is behind a pay wall, then you would encrypt your API key and have it decrypted in the TEE.
Alright so every node operator connected to paid data is going to be running Intel SGX? Gotcha. Btw this still constitutes reselling the data and is prohibited in most API terms of service. Have fun getting your $500/m keys deactivated.
So no, you kys.
>what is linkpool
>what is clcg
>what is paid subscriptions
>what is paid subscriptions
>what is a brainlet
This is exactly the issue. You paying for the subscription does not give you the permission to turn around and resell the data for a profit. You need to literally negotiate a resale agreement with the API provider. Good luck.
Oh.. my.. god..
You would encrypt YOUR API key granting only YOU and YOUR smart contract access to the data YOU have PURCHASED access to.
This is okay because TEEs and API key TTL.
Read the post about TownCrier written by Ari Juels on the Chainlink blog
You're not selling the data, you are selling the service of picking up that data, and writing it to the blockchain (or vice versa) when told to
Just like your isp isn't "selling" that data when they charge you to provide the connection to the data
Link is a pure utility
>I have a smart contract
>I need data for this smart contract
>I connect MY smart contract to MY oracle which is connected to MY API key
>Look mommy I is decentralized!
You still dont understand it.
You would provide your API key to the TEE oracles. Its not your own oracle running the code.
You could argue that it isnt decentralized in any way as you have to trust S&P to provide correct data.
But with your API key many TEE enabled oracles can trustfully fetch and provide the "private" data to your smart contract.
Not all APIs are open APIs, if you thought this was news then lmao@urlyfe.
Also, look up PSD2.
Financial institutions won’t have much choice but to open up their internal APIs to third parties.
>You need to literally negotiate a resale agreement with the API provider
but user, there are people working on specifically that right now
First point: I think you missed the point or you're still learning how to read.
Second point: If you thought you will have access to that PSD2 data as some neet running a basement oracle then kys@yourself. I suggest you look into the requirements.
Sounds simple and exactly like what people have in mind when they imagine themselves makingbankbro with their third party oracles. Good thing also that Intel SGX has such a high availability and can be used as the base tech to scale smart contract use cases requiring paid API data.
You have totally alleviated my concerns.
>what is terms & conditions
are you retarded or what? some APIs offer the option to resell,others don't.
>First point: I think you missed the point or you're still learning how to read.
K brainlet.
OP's point is about API owners having exclusive contracts with certain providers.
That means those APIs aren't "open APIs".
This wasn't really that difficult to understand, you must be really 'special'.
>If you thought you will have access to that PSD2 data as some neet running a basement oracle then kys@yourself.
Here's Swift talking about PSD2 in the wrap-up report for last Sibos:
-"The European Union’s second Payments Services Directive (PSD2) and the UK’s Open Banking Initiative, due to come into effect from 2018, both mandate use of standardised open APIs to facilitate access to bank customers’ transaction and account data."
sibos.com
I guess I'm retarded then. Why don't you point me to a high value API that allows the resale of its data? I'll wait.
>implying they'll have a choice
I feel like you're a special kind of special if you think that you're just going to be able to have access to some Norman's bank account data without some serious background checks.
Oh I'm sure there will be SOME vetting and requirements.
>SOME
This isn't your typical shitcoin ICO KYC. You don't get access to PSD2 data by sending them pictures of your Nevada driver's license and a hand written piece of paper next to your face that reads PSD2 -today's date- Norman Nodeoperator.
Jesus you people are deluded.
>You don't get access to PSD2 data by sending them pictures of your Nevada driver's license and a hand written piece of paper next to your face that reads PSD2 -today's date- Norman Nodeoperator.
Source?
Like I said: Good luck.
The information requirements specified in the draft Guidelines include, for example, details on the applicant’s programme of operations; its business plan; evidence of initial capital; the measures taken for safeguarding payment service users’ funds; the applicant’s governance arrangements and internal control mechanisms; the procedures in place to monitor, handle and follow up a security incident and security related customer complaints and to file, monitor, track and restrict access to sensitive payment data; and the identity, and evidence of the suitability, of persons holding qualifying holding and of persons responsible for the management of the payment institution.
I just have to note that oh wow, is this really what you thought? You thought that banks are going to just let you look up how much your neighbor spent at the strip club last Saturday if you send them a picture of your passport?
Is this really the level we're playing at here?
Sorry but I am not sure I follow. do you want me to negotiate on your behalf with the API sources? do you also want me to run your node?
state of nulinkers...
Why don't you read the OP? I'm saying I'm pretty sure the vast majority of these people who are looking to make money running a node have not considered that they need a permission from the API provider to resell the data. Idiots think they can just connect to a paid API and they're set, no negotiations involved.
Btw almost all paid APIs prohibit the resale of the data. In case you thought otherwise. I gave you a chance to point me to one high value ($100+/m) API that doesn't, but obviously you can't since you come back with this confused ad hominem.
You're not selling data, your being rewarded for delivery of data to the blockchain
You are more than welcome to start contacting API providers and explain you wish to re-sell their data. clcg.io already signed BNC and neutrino and I'm sure they'll get plenty more.
you can either use their services or try to get those api sources by yourself.
who gives a fuck what brainlets think about. they will all eventually use linkpool anyway.
How are they going to stop me reselling it?
that's not what Sergey is saying in the video.
they can cut off your api key.
it's why clcg's business model exists
The seller is the API provider
>15 posts by ID
Damn fud is out full force today. Bullish
How will they identify that it's my key?
My point is that much of the hype around monetizing your node is not considering this at all. The whole "I'm gonna make so much money running a node" narrative is based on the brainlet logic that you'll just be able to turn on your node and connect it to NYSE API and you're in business. That's not how it's going to work. At all.
I've seen 0 discussions about node operators contacting API providers to get a permission to resell their data. It's all just deluded LINK holders burying their heads in the sand, thinking real world rules don't apply to them.
fucking idiot watch the video. They're talking about a third party node connecting to S&P API.
Your whole thread is brainlet tier fud
My point, if you had half a brain, is its not you, a node operator who is selling the data. Open your eyes to the companies springing up in support of chainlink. Use the 3 fucking brain cells you have for once and put it together
I'm still waiting for an answer to my question...
you are the only brainlet here not understanding it until right fucking now.
you should also stake in linkpool. and there's nothing wrong with it.
SmartContract.com is soliciting API providers to run their own Chainlink oracles. This is pretty well documented. All these big data providers are just going to run their own oracles and aggregation from multiple API level providers is going to be the norm, making 3rd party nodes pretty obsolete and unable to compete. This is how the big corporations most efficiently monetize their data in the smart contract economy.
If you haven't put this together by now, it sounds like my 3 brain cells still outnumber yours by at least 50%.
So the basics.
Like I said, there were always going to be SOME requirements.
>contacting API providers to get a permission to resell their data
What exactly do you think the Honeycomb listing service will accomplish? Just a web search of APIs? The listing IS the permission for node access, for which they are paid per call.
>ignores the rest of his points and proceeds to ask questions that wouldve been answered by the very same points
honeycomb and linkpool strikes deal with api providers. It'll most likely be charged per call so there won't be risks of losing money by subscribing to an unpopular api
>SmartContract.com is soliciting API providers to run their own Chainlink oracles. This is pretty well documented.
What's also well documented is open banking initiatives like PSD2, which will force financial institutions to open up their APIs to third parties.
How are they going to stop me?
the requirements literally BTFO any non-incorporated entity from providing that data. You're going to need a serious organization to get access to PSD2.
>the requirements literally BTFO any non-incorporated entity from providing that data
Lmao, not even close.
Is this your first time reading contract requirements?
You just gona ignore my points? Probably smart for you not to engage with something that ruins your whole arguments...
has literally stated they will be aiming for "high value" data specifically derivatives its in the lp slack
bump
I’m not even going to read all of your other low IQ posts but if you honestly believe there’s a company in the world who won’t change their terms of use or allow special exceptions if it means making more money (which can be as simple as pleasing their current users and clients) then you have much more important issues to worry about than why LINK will make half this board rich. Like why your brain isn’t functioning.
You can read a little bit about API security here:
braze.com
> API provider checks logs
> key with funky-ass endpoints
> external adapter... what?
> fuck this guy
fin.
>> external adapter... what?
>> fuck this guy
Bordering dangerously close on furry-tier RP.
There is no way for them to tell the difference between me using the api for my own app, or me "reselling" the data on a blockchain.
telling the difference are literally what reading endpoints are for, retard
I have a chainlink node provisioning my own app with data. I have a chainlink node reselling that data to other contracts. How do those two end points look different?
In the first example, the endpoint is the app. In the second, the endpoint is the contract.
My app is a contract. It is a dapp. How do they know which contract I own and which I don't?
You don't get it bro, it looks "funky".
LOL. Im happy to be proven wrong, but as far as I can see there is no practical way for them to enforce a no reselling rule.
They'll still try to enshrine their bullshit in some EULA or whatever, but it will be "lettre morte" until they catch someone sloppy and make an example of him.
Say you're a major sports API provider. You need to make sure that your data isn't being used for gambling in regions where it is illegal, otherwise you're going to be held liable. You routinely check your logs and ensure the endpoints are all above-board operations.
Now some retard comes along and is plugging your data into a weird programming language you're not familiar with (and even if you do, you notice immediately that the contract doesn't have the geographical restrictions you want). If there's any ambiguity there, you shut off the key. As a node operator you get penalized and lose reputation because you thought you could be cheeky and circumvent an APIs ToS. You're welcome to try your dumb idea, but you will get fucked.
This is why Nodary exists -- the only way Honeycomb convinces people to list on their marketplace is if they can demonstrate who is using the data and for what, like API providers do themselves.
>You routinely check your logs and ensure the endpoints are all above-board operations.
Good luck.
Again, try pulling this shit when mainnet comes out. You'll end up paying a monthly fee, losing staked link, and losing reputation.
Major providers don't fuck around. Their business is built on their data, and they want to know who is using it and for what.
>Their business is built on their data, and they want to know who is using it and for what.
And with regulations like PSD and the Open Banking Initiative, they won't have much say.
> an industry-specific initiative imed at opening up APIs will open up APIs in a specific industry
This is the first thing you've been right about, congrats.
Try pulling this shit right now with, say ATTOM Data. Really. Go get a key, write an adapter, and, and see how long you last pulling requests on Ropsten before you get shut down. It'll take you a few hours and some gas, but it'll save you money in the long term because you'll realize how fucking retarded circumventing terms of service are
>and even if you do, you notice immediately that the contract doesn't have the geographical restrictions you want
Pardon? Buddy, a chainlink node will look like a black box that your data goes into and then disappears. Not even the operators will know what is happening in there.
You're proving my point for me.
Non-open APIs are likely to exert stringent controls, yes.
Initiatives like PSD2 render such APIs (quasi-) open however.
What point? They might not like it. That's not the point. They physically can't stop it.
If they deactivate your key they can
This. Whereupon they then keep your monthly subscription, you maybe lose staked linked depending on the penalty, and you lose reputation, decreasing the number of jobs available to you.
You are not reselling the raw API data. You are providing a service using the API data. Why else would anyone pay for an API data feed if they didn’t plan to use it to make more money?
How will they know which keys to deactivate? How will they know you're reselling? They can't. It's like trying to detect when a CD is being copied
see
That example disregards PSD and Open Banking Initiative.
Strange that my example, featuring a sports company, disregards an industry-initiative centered on banks.
Not strange at all. Just you cherrypicking.
The real money is in finance, not sports betting.
And sports betting will definitely benefit from and grow towards smart contracts as well btw.
You've gone from "high value APIs won't have a choice but to list their data/won't be able to control their data on the chainlink network" ( and ) to "banking APIs are the only high-value ones anyway" ().
This ignores ALL insurance contracts; weather-dependent contracts; rentals, leases, and other property agreements; gps-dependent contracts; semantic evaluation and marketing contracts; gambling and related dapp or fantasy contracts; exchange rate and conversion contracts; tokenization/derivative contracts; time-dependent contracts; political markets contracts; damage verification contracts; shipping, transport, and tracking contracts; inter-chain operability and communication contracts; random-number and cryptography contracts; and paramentric trigger contracts. That's off the top of my head.
You're a fucking idiot. Exactly ONE industry will be available for the wild west bullshit you're envisioning, and the rest will expect and enforce their data to be used as per their terms of service, and you're a fool if you think they can't enforce them,
by backtracing it
Even in the small chance that ChainLink works and succeeds, it won't make you rich. It won't even make you wealthy. This service can't be expensive otherwise it defeats the point.
In this context it isn't technically possible
You’re retarded.
>what are decimal points
Lmao this thread is hilarious.
>
>You've gone from "high value APIs won't have a choice but to list their data/won't be able to control their data on the chainlink network" ( and ) to "banking APIs are the only high-value ones anyway" ().
You do realize these are two perfectly consistent statements, right?
Brainlet lmao.
>This ignores ALL insurance contracts; weather-dependent contracts; rentals, leases, and other property agreements; gps-dependent contracts; semantic evaluation and marketing contracts; gambling and related dapp or fantasy contracts; exchange rate and conversion contracts; tokenization/derivative contracts; time-dependent contracts; political markets contracts; damage verification contracts; shipping, transport, and tracking contracts; inter-chain operability and communication contracts; random-number and cryptography contracts; and paramentric trigger contracts
A ton of those are either directly or indirectly related to bank services.
This guy gets it. Imagine thinking CNN and Fox would allow their content to be put on a faggy internet website called YouTube and just let people watch it whenever they want when they pay good money for prime time television slots.
Biz retards think that their gay “technology” is going to affect businesses LOL. I love watching you sweet summer children for entertainment. I’ve gotta get back to reading the morning paper before the recyclable truck comes. Ta ta little ones.
PSD2 allows for third parties to access bank records and accounts. It does not force banks to provide data for any of the directly or indirectly associated use cases I listed.
I can't tell if you're pretending to be retarded at this point
How are you guys not getting this? The data controls you are envisioning are not technologically possible. Once you allow your data to be used in a smart contract at all you can't prevent resale.
Literally: how would the provider even know you resold the data?
They only know if you have aspergers and like to argue with people to be irritating.
>It does not force banks to provide data for any of the directly or indirectly associated use cases I listed.
It allows third parties to carry out transactions without having to actually go through the bank.
The use cases for this include many of the items you listed.
Also, you've been trying your darnest to fud Chainlink for 13 posts and over 4 hours now.
What are you doing with your life that your time is so worthless to you?
Lol
There are scavenger mexicants who rifle through my blue garbage can in the wee hours before the trash man comes to take it away. Lately I've been sprinkling the top with cat shit and eggs but thei don't seem to mind. I hate you. Stay out of my trash cans!
He’s not fussing dumbass. High value apis will require agreements. This is part of why link hired two full time adapter writers and why fires and clog.io exist
>High value apis will require agreements
They pretty much all will.
Exactly.
So, we're back at the start of this knuckle-dragging drool circle: high-value APIs have control over whether or not they choose to open their data to smart contracts, and they will have oversight concerning who is using their data and for what. Exactly these concerns necessitate the existence of Fiews and CLCG.io
This isn't FUD, this is stating facts.
>high-value APIs have control over whether or not they choose to open their data to smart contracts
Non-open APIs are non open.
Wow, such facts. Much information.
Meanwhile the pool of "non-open APIs" just got a fuckload smaller with initiatives like PSD2, forcing banks to open up their internal APIs to third parties.
> initiatives like
Name another you fucking retard.
Also, you don't understand PSD2.