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2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

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Anonymous Sat Jan 23 11:52:11 2021 No.26417136 [Reply] [Original]

Should Sergey make an attempt to buy out API3? Despite the huge run-up it's still criminally undervalued. He could probably get it for 250 million which is only 10 million Link.

API3 is a legit project that will play a large role in the future of oracles and I see them both coexisting with large market shares as they serve different markets.

>>	Anonymous Sat Jan 23 11:56:26 2021 No.26417295 >>26417136 How do you buy a dow? Is 50% even on the market?

>>	Anonymous Sat Jan 23 11:57:54 2021 No.26417343 File: 158 KB, 491x512, 1610441125140.png [View same] [iqdb] [saucenao] [google] >>26417136 It's too late for them now, sirgay's going to jail

Anonymous Sat Jan 23 12:01:41 2021 No.26417489

>>26417295
I feel like first he should accumulate a decent amount on the open market (this honestly could be happening right now) and then you'd go straight to the team and buy out the team, getting their supply of the token and all of their assets. You'd probably never own 50% of the supply but you'd pretty much own the project regardless. I think this is how CZ bought out Swipe.

Anonymous Sat Jan 23 12:03:08 2021 No.26417551

>>26417136
LMAO
Midhav, it was over before it even begun
Apu3 is obsessed with chainlink, while chainlink doesn't think about them at all. Because they don't need to. Because NO ONE gives a shit about apu3 outside of a few that buy it thinking they'll get a quick pump and dump they can time. Its not the standard. Its not even going to be a secure and reliable alternative. Its just... dogshit.
S And H

>>	Anonymous Sat Jan 23 12:08:35 2021 No.26417731 File: 6 KB, 250x250, 1606310469483s.jpg [View same] [iqdb] [saucenao] [google] >>26417136 Pretty sad i only got 800 when it was a buck desu

>>	Anonymous Sat Jan 23 12:12:23 2021 No.26417869 If he even cared about this garbage, why wouldn't he just copy/paste the open source code and integrate it into chainlink's already far more established network

Anonymous Sat Jan 23 12:13:40 2021 No.26417938

>>26417551
There's a reason it's at $6 already. It's a legitimate project.

I'm about 60/40 Link/API but kind of wish I was heavier on API. Anyways Link is too centralized for something like Defi. Don't get me wrong Link will be the bigger project and that's where all the money is, but you will still need something like api3 for hobbyists and teams that want to stay anon.

Anonymous Sat Jan 23 12:15:08 2021 No.26418006
File: 102 KB, 1169x1280, API3_ethindia.jpg [View same] [iqdb] [saucenao] [google]

>>26417551
Except that they likely paid ETHIndia to drop them from the event.

And obviously the sentiment will go one way like that when it's 9b marketcap vs 250m marketcap.

>>	Anonymous Sat Jan 23 12:16:17 2021 No.26418044 >>26417551 >increasingly nervous link holder

>>	Anonymous Sat Jan 23 12:17:13 2021 No.26418092 >>26417136 t. sassa

>>	Anonymous Sat Jan 23 12:17:52 2021 No.26418119 >>26417136 This shitcoin with zero progress is not worth even 2,5 million.

>>	Anonymous Sat Jan 23 12:24:11 2021 No.26418401 >>26418092 You wish she posted on this board

>>	Anonymous Sat Jan 23 12:26:48 2021 No.26418510 >>26418119 literally already getting users, check twitter nigger

>>	Anonymous Sat Jan 23 12:30:48 2021 No.26418648 >>26417938 >stay anon No thanks

>>	Anonymous Sat Jan 23 12:38:16 2021 No.26418948 >>26417136 >"h-hopefully smartcontract b-buys our shitcoin" The absolute state of a api3 brigadiers.

>>	Anonymous Sat Jan 23 12:39:24 2021 No.26418984 >>26417136 No. Api3 brings nothing to the table. It's just a centralized, simpler chainlink for low-end projects.

>>	Anonymous Sat Jan 23 12:40:50 2021 No.26419028 >>26418984 centralised? nigger are you retarded its a DAO with decentralized nodes

>>	Industry Standard Sat Jan 23 12:40:53 2021 No.26419029 >>26417938 he doesnt know

Anonymous Sat Jan 23 12:45:42 2021 No.26419204

>>26419028
a) a dao is a governing system, not a service system
b) it's centralized because they will only have a couple of data providers. Every link call aggregates over 21 answers, this will do a couple at most.
c) when ocr ships, link can aggregate thousands of answers btw.

So yes, it's very centralized.

>>	Anonymous Sat Jan 23 12:46:54 2021 No.26419248 >imagine not knowing who API3 are They should consider themselves lucky that Ari didn't kill them in their sleep.

>>	Anonymous Sat Jan 23 12:50:13 2021 No.26419389 >>26418401 t. burak

>>	Anonymous Sat Jan 23 12:52:05 2021 No.26419489 >>26418648 > i have no reading comprehension >>26419204 > random jibberish FUD

>>	Anonymous Sat Jan 23 12:55:00 2021 No.26419630 I swear Timo starts every one of these threads. API3 is nothing more than some /biz/ retards that Sergey rejected and VC money nabbed to syphon some cash from retards thinking this could ever possibly compete with chainlink

>>	Anonymous Sat Jan 23 13:08:14 2021 No.26420246 >>26419630 ok then dont buy it

>>	Anonymous Sat Jan 23 13:08:44 2021 No.26420271 >>26420246 I won’t u faggot

>>	Anonymous Sat Jan 23 13:11:22 2021 No.26420378 >>26417551 Why dont u just sell 10% of ur link and buy api3 you will sleep a alot better

>>	Anonymous Sat Jan 23 13:13:38 2021 No.26420477 >>26420271 I did at sub 2$ and feeling quite comfy desu

Anonymous Sat Jan 23 13:15:59 2021 No.26420580

>>26419489
its neither jibberish nor fud. There is a very limited number of data providers. Oracles are suppose to relay reality through third party observers. First party-only means you have to rely in a much smaller set, making it more centralized.
Api3 wants to be a cheaper centralized chainlink, that's their product. Maybe it will find its niche in low-end defi projects that can't use chainlink as it is stupidly expensive in its form right now, but no serious project will put treasury funds and serious dough using api3.

Anonymous Sat Jan 23 13:20:28 2021 No.26420794

>>26420580
>Oracles are suppose to relay reality through third party observers. First party-only means you have to rely in a much smaller set, making it more centralized.

How so? Link does get the data from first party api so basically the node network is only used for aggregating data. Since api3 can aggregate straight from the fist party oracle (dapi) makes link basically obsolete and parastic in nature.

>>	Anonymous Sat Jan 23 13:20:38 2021 No.26420800 >>26417136 you know they could just fork the code, hype a new token sale, and continue developing even more wealthy than before, right?

>>	Anonymous Sat Jan 23 13:22:59 2021 No.26420934 >>26420580 Dude just let them invest in trash.

>>	Anonymous Sat Jan 23 13:23:42 2021 No.26420961 >>26419204 >Every link call aggregates over 21 answers Lol! And how many API providers does that represent? How do you know they aren’t querying all from the same API?

>>	Anonymous Sat Jan 23 13:26:33 2021 No.26421082 >>26420961 >And how many API providers does that represent? How do you know they aren’t querying all from the same API? This x100. Also you are paying 21x fees for each node which posslby only uses one or two apis

Anonymous Sat Jan 23 13:30:18 2021 No.26421265

>>26420794
not true, many data providers already run their own nodes, so right now you have a mix of the answers between nodes using their own apis and nodes observing other apis and relay the info which is then aggregated. Api3, in this case, would simplify the process for the first case and eliminate the rest. It becomes much more centralized.
you can see here
https://feeds.chain.link/eth-usd

link is expensive because it's already decentralized to the point that aggregation costs too much, especially when gas is high. Being cheaper is just being more centralized and instead of aggregating 22 answers, you would aggregate 2 or 3. Which becomes then a major attack surface.

They also have the problem of not having anyone capable of coding ocr, they are just waiting for coventry and friends to ship the code so they copy it, which will solve the aggregation cost.

Anonymous Sat Jan 23 13:33:23 2021 No.26421408

>>26420961
doesn't matter, apis can bug for seconds, can go down for seconds, or that one node can intentional change the value without any threshold deviation in place.
trustless means 20 people looking at a white wall and saying it is wait not the person who painted the white wall that it is white.

Long-term data providers won't even know what third party observers are doing with their data

>>	Anonymous Sat Jan 23 13:33:51 2021 No.26421431 >>26421265 >https://feeds.chain.link/eth-usd How many APIs does this data feed represent? That is, how many independent data points does this represent? That is, how truly decentralized at the data source is this feed?

>>	Anonymous Sat Jan 23 13:34:35 2021 No.26421465 >>26421408 >wait *white

>>	Anonymous Sat Jan 23 13:35:33 2021 No.26421505 >>26421408 >trustless means 20 people looking at a white wall No, trustless would mean not having to trust those 20 randoms being honest. And you have to pay 20x fees to get the same info

>>	Anonymous Sat Jan 23 13:36:03 2021 No.26421523 >>26421431 doesn't matter, but you can check each node if you want. Nodes are the ones who need to take care of their own data, not the network. Less nodes means you only need to attack two or three, it's inherently centralized and less safe.

>>	Anonymous Sat Jan 23 13:37:09 2021 No.26421566 >>26421505 and you won't have to trust them because of how big the network will be with ocr and the penalties in place while with api3 you trust 2-3-4 players.

>>	Anonymous Sat Jan 23 13:38:47 2021 No.26421636 >>26421523 >doesn't matter, but you can check each node if you want. No, you can’t. There’s no way to know programmatically where nodes in Chainlink price feeds get their data from. For all you know, all of them could be querying CoinMarketCap.

>>	Anonymous Sat Jan 23 13:40:19 2021 No.26421718 >>26421566 >because of how big the network will be with ocr I still can’t believe link marines buy into this. You think staking and reputation are sufficient to prevent any data misreport? Even if they were, they aren’t even implemented.

Anonymous Sat Jan 23 13:41:37 2021 No.26421773

>>26421636
>Nodes are the ones who need to take care of their own data

This is their job.The api-problem is a meme. It was in 2018 and it is now. You can't scale it, and you can't make it safe outside of relying on third party.

Why would anyone in their right mind use api3 when they have the twap uni oracle which is as centralized but much safer.

>>	Anonymous Sat Jan 23 13:42:43 2021 No.26421821 >>26421718 we don't have to believe. it is already extremely battled-proof. all oracles have been exploited outside of link in, its initial form.

>>	Anonymous Sat Jan 23 13:43:43 2021 No.26421860 >>26421773 You’re clearly ~90 IQ. Most of your response is coherent.

>>	Anonymous Sat Jan 23 13:44:44 2021 No.26421904 >>26421860 *incoherent

Anonymous Sat Jan 23 13:51:29 2021 No.26422173

>>26421773
>This is their job.The api-problem is a meme. It was in 2018 and it is now. You can't scale it, and you can't make it safe outside of relying on third party.
Looks like you never bothered to read the api3 whitepaper and here you are spouting nonsense.

>>	Anonymous Sat Jan 23 13:52:45 2021 No.26422224 >>26417136 >it's still criminally undervalued. How the fuck is it undervalued? They have zero network effect, there aren't securing anything in defi and there mainnet isn't even out.

>>	Anonymous Sat Jan 23 13:55:36 2021 No.26422332 >>26422173 Facts can't be contradicted in whitepapers tho. This isn't an opinion, what I posted is a fact. Chainlink faced similar challenges when they started to architect their solution

>>	Anonymous Sat Jan 23 14:06:45 2021 No.26422832 >>26421773 because the twap uni oracle is just pricing onchain twap you mongoloid. Unreal that biz still can’t piece together decentralized oracles after almost four years

>>	Anonymous Sat Jan 23 14:16:51 2021 No.26423330 >>26422832 >decentralized oracles >api3 pick one

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