Polymarket oracle hacked

this wasn't "market failure", what do they mean?

It's not a hack, it works like this by design.
Already happened with the Venezuela elections.

It's not an attack model. By design the whales are able to decide the outcome and there's no market incentive to decide truthfully, only to pile on to the most wealthy side.
And as people realize this there will be more and more false outcomes voted.

Using Chainlink wouldn't have made it any different, stop being obnoxious bagholders.

Using Chainlink wouldn't have made it any different, stop being obnoxious bagholders.

Chainlink solves this.

Then how come you haven't built a better prediction market on it? Do you hate money? Even if you had the skills to make a Chainlink clone it would suffer from the same problem. And you won't be able to explain why it wouldn't.

Yeah but Chainlink solves it though, just saying.

How?

he doesn't know

kek and you're acting as some knowledgeable authority. Lol, lmao even.

I only asked rhetorically. I already knew you have no answer.

Nice cope. Chainlink solves it, anon. Not my fault, just facts.

With Chainlink, there's no single power in the network that can single-handedly decide on the oracle prediction outcome. It's that shrimple.

Using Chainlink wouldn't have made it any different

cope

Your desperation comes off through the screen. You probably lost more than half your life savings on this shit didn't you? Damn anon, imagine being so dumb.

look to the far left, thats when most linkies here bought

look at the giant blow off top, that's where most of the smart linkies sold

All the largest, most trustworthy, most liquid, most reliable protocols, rely on Chainlink.

NAAAAAAhhhh let's just use some untested jeet shit coded in a month what could go wrong?

Whatever. Even Kleros would be better.

With an anonymous decentralized network there is no way for the network to measure past performance other than by voting which results in the same issue. You can vote yourself into having a stellar performance.
Only way to prevent it is to have centralization and KYC.
The only reason Bitcoin gets away with not having 51% attacks even with decentralized validation is that since validating the blockchain is a simple computation all nodes are forced to do it. But you can't expect all nodes on an oracle network to emit a meaningful opinion on the outcome of all prediction markets. And the more niche the market you participate in the easier it is to manipulate or manipulate your own reputation in the case of Chainlink.

If i sold at that point LINK would be $1000 stable coin atm

The only way you could kinda solve it is by a web of trust

so the user's client would assign a trust number to each peer

Using Chainlink wouldn't have made it any different

The absolute bleeding-ass cope on this one.

(based on past ratings by transitivity), and then you would have to avoid participating in markets which don't have (subjectively) trusted users as the sources of truth.
But this isn't the approach Chainlink takes so this is a moot point.

literally just hire some people to look at it before is accepted, like banks do.

Riiiiight
Post a screenshot of your trades then
Anyone who bought there already sold and forgot about this failed project

The only reason somebody would spend so much time and effort shilling something is because they didn't sell at a profit, and instead became generational bagholders, hoping to waste their valueless NEET lives to help the price get to break even so they don't have to sell at a loss

Oh yeah, soooo much bleeding ass cope that I don't have to spend my days shilling a dead coin hoping to one day recover my life savings

chainlink literally hasn't had a single hack or failure or malfunction or downtime, ever.

You instead spend your days spouting bullshit in a thread that you have zero incentive to be in? You’ve been told multiple times that chainlink fixes this. It just does. Get over it and please go back with your chunky word soup

11 posts by this ID out of 37 total posts

obsessed

Chainlink is a glorified json parser, it doesn't solve shit.

The problem with decentralised betting is coming to conclusions on ambiguous bets. Decentralisation makes this difficult as humans naturally interpret things differently. The bet in question specifies in the rules that the signing of the agreement isn't required and simply the announcement of an agreed deal is enough, well technically they announced their agreement before the Z incident, as such there was an argument that could made for the Yes resolution.

This happens all the time on polymarket. Bets are contentious when rules aren't clear. It's a good money making opportunity if you can navigate that kind of system.

Whenever anyone claims they got 'hacked", you should probably consider that it's an inside job.
Sorry if this comment annoys you. My Anon Babble account got hacked.

Only way to prevent it is to have centralization and KYC.

What? It's the exact opposite. You have multiple actors voting on something, and then weed out the outliers. That's how you reach truth. Centralization only leads to incidents like the OP.
It is very hard to compromise the majority of oracles in a decentralized oracle network, so such incidents are unlikely with decentralization.

Well it's not really used for anything either so if it did nobody would notice

I'm sorry but you're just a desperate third world loser coping and it shows.
Using link would have solved this.
You can't provide any examples of a link backed network being hacked because of an issue with the oracle.
Maybe just stick with the usual fudcuck angles like spamming gay porn or twitter screencaps of your sockuppet accounts, at least you can't fuck that up as badly as you do trying to make an "argument."

are you new here?

How do you distinguish between multiple actors and a single actor with multiple wallets? You can't unless you do KYC.
UMA already is decentralized, this was a 51% "attack".

just pay 3 centralized & real companies to do the oracling, aggregate their results. PROBLEM SOLVED
WILL NEVER BE ANY ISSUE
CHAINLINK NOT EVER NEEDED

KEK

I'm sorry but you're just a desperate third world loser coping and it shows

How does being a desperate third worlder lead to taunting baggies like you? Not sure I follow.
I can't provide any examples of a link backed network because there is none.

Maybe just stick with the usual fudcuck angles like spamming gay porn or twitter screencaps of your sockuppet accounts, at least you can't fuck that up as badly as you do trying to make an "argument."

Meds

No. Are you?

Oof looks like I triggered the brownoid.
Maybe if you weren't a porn / drug addict like every fudcuck ends up being, you wouldn't be like this.
Oh well lol.

bribes all 3 companies

nothing personal bro

You as a oracle network operator decide with what oracles to integrate. You may require KYC, or not. Oracles are businesses with reputation, they generally don't have an incentive to fuck you over, that's why as long as you integrate with many you're safe against such attacks.

cope overflowing

that's total denial & copium from cryptotards. Imagine thinking that bribing/hacking all 3 companies, with known team, with stakes (economical & reputational) is easier than ensuring trust in a decentralized network of bullshit nodes

It's amazing you can infer so much about me just from the fact that I don't lose my life savings gambling on shitcoins

there is a central authority which decides what nodes to trust

Then it's not decentralized is it?

also, any foulplay or "bribing" will be detected immediately, and refund/recovery procedure will be started immediately. Something you can forget with anonymous nodes on a distributed network kek.
Oracling truly isn't a technological thing

I-I'm not a loser I just sit on biz all day complaining about link

Y-you must have lost everything gambling just like me!

The last bastions of defense for the triggered brownoid loser lmao.

I’m sorry, but Chainlink solves this

Then it's not decentralized is it?

There's no ideal decentralization, it's like communism. Btc is not decentralized: you have a few giant miners that can be pressed by the govs.

b-but i can run a node!

Yes, but you won't, there's no good incentive to.

Chainlink is the best thing we have so far, it doesn't get more decentralized yet.

that can be pressed by the govs.

you have to distinguish protocols with specifics rules like BTC which can't be easily pressed into anything, and bullshit protocols like LINK who just hope the "voters" of the commitees are trusted/decentralized enough

This is just cope, we both know it. The reality is btc network is vulneravle to gov pressure.

You didn't lose until you sold, right? :)
Have fun holding these heavy bags baggie
If Link is still worth anything I'm sure the Fed will inflate away your loss in a few decades, don't worry about it kek

no but you definitely are if you think linkies here bought after 2018

I had no clue they didn't have a real person decide the market lmao that's so weird

Probably wouldn't have bet $10k in the election if I knew

it could be done though; you only have three points of failure, and theres no way to detect it automatically. You cannot however, bribe a DON, as superlinear staking means each component or operator in the node gets progressively and quadratically more expensive to bribe than the last one, making it very quickly impractical.
Go away and build your own decentralised oracle network if you want and then come back and say you have an alternative to chainlink. Nothing else is possible however.

I'm going to respond to you as if you're a civil person even though you're acting like an arrogant jackass an have shown you don't understand anything you're talking about (which is why everyone here is just dunking on you).

Chainlink solves this problem. It exists to solve this exact problem. The reason the outcome would have been different here is because Chainlink has built a system where the incentive is greater for the node to be truthful than for the node to attempt to manipulate the truth. This is both from the monetary penalization they'd incur as well as being expelled from the network thus dissolving your ability to print money as a node going forward. HOW this works I'll leave to you to read about as it's a fairly complex system.

the tl;dr for you is this:

Polymarket system incentivizes people to say the "truth" is whatever bet they made, no incentive for actual truth. "Nodes" have MORE incentive to report whatever bet they made than to report the truth.

Chainlink system incentivizes actual truth. Nodes have MORE incentive to report the truth than to lie.

Good luck out there, anon.

Yet BTC has never been 51% attacked unlike UMA oracles.

I s-s-swear I b-b-bought early

said every Link bagholder ever

How would you have felt if you didn’t eat dinner yesterday? How would you have felt if you bought LINK below a dollar? Hypothetical question inconceivable by the brown mind

More triggered brownoid fuddie seething

What I love most about this is that you'll still be angry about it like 7 hours from now when you're still on biz trying to fud like... it's your fulltime job or something lmao. What a looooseerrrrrr

No, everybody is dunking on me because they think if they shill their bags hard enough somebody will buy them at a higher price.
The problem with pretending everybody bought in 2018 and anyone who bought after is a retard is that you are insulting your potential customers.

dude I swear there are systems in place to prevent this. no I won't explain how those systems work.

ok

UMA has nothing to do with the discussion. Come back when Chainlink suffers the same attack.

Yeah dude I'm a paid shill. I get to wfh making fat stacks of lakhs and jerk off all day while laughing at your financial losses. It's great.

At least I'll forget about it tomorrow. While your stinkies will still show -80%. lmao

Why wouldn't they suffer from the same attack?

I can only hope you're paid to spam like this on fucking Anon Babble.

If I still had it? I would market sell immediately, then breathe a sense of relief

I told him this here; he doesnt want to know, he's a paid fuddie, the truth is literally irrelevant to him as it is to everyone trying to cast shade on the Truth Machine that is Chainlink.
The truth, as everyone here knows, is that Chainlink would have solved this very problem as a core element of how it works.

Just Ser Gey