BANCOR AMA happening today @ 9 AM on ARK's Slack

Hey guys, if you're interested in the BANCOR ICO, come check out this AMA with one of the developers in the ARK slack channel.

It's a really good experience. I went to the Mysterium one yesterday and learned a fuck ton. These things are a good send before an ICO happens.

This is how you beat the game faggots.

Other urls found in this thread:

arkecosystem.slack.com/messages/C41QFMCKH/
ark.io/slack/
bancor.network/static/Bancor_Protocol_FAQ.pdf
blog.bancor.network/bancor-product-roadmap-ea4752d60082
blog.bancor.network/bancor-protocol-very-faq-1849cd462c22
twitter.com/NSFWRedditVideo

Here's the link
arkecosystem.slack.com/messages/C41QFMCKH/

Thanks pede.

I am really thrilled for Bancor. Smells like some good, old rocket fuel

I know very little about it, I'm excited to learn about it at this AMA.

This is taking place in the #trading_altcoins section.

Is this site worth signing up for?

you need to be invited to even be on the slack so how does anyone here get on....

Yeah, it's just a Slack channel which is a chat. You can use a fake email through Mailinator or whatever.

ark.io/slack/

Here you go, sorry. That was my fault. I posted the URL of the Slack but you have to go through this entry point if you haven't been there before I guess.

I just want to know when the fucking ICO is

Come to the AMA faggot and you can ask them.

Will the ico price remain consistent all the way through June 29th? I'm at work and don't want to miss out on this. Can i use BTC or is it eth bases?

lol it will sell out in 5 minutes. what are you smoking

I also suggest reading this if you want to know more. It explains price discovery in detail, it even has an explanation for "5 year old redditors":
bancor.network/static/Bancor_Protocol_FAQ.pdf

They are literally /our guys/

Do you want me to post a transcript after this thread?

Still waiting for my mysterium tokens..

Yes

I wish I actually had more to invest in this.

Only got 2.5 ETH. Will probably invest anyway. Stratis ICO saw absolutely insane returns.

Fuck man. I'm IN.

Galia a QT

How long until new ICO's hit exchanges?

add this to your myetherwallet

Address: 0xa645264c5603e96c3b0b078cdab68733794b0a71
Token symbol: MYST
Decimals: 8

Can someone help elucidate ICO returns for me?

For instance stratis had 400x returns since ICO. Does that literally mean if you have 1 ETH in Bancor and it hits 400x return you are getting ETH value x 400?

I wonder if they will do the same shit as BAT and only value ETH at $150, which I recently read and also don't understand

>Slack
Every fucking crypto group uses this piece of shit software and we know why: obfuscation. Make it harder to get to the information by talking in real time on a private chatroom, as opposed to the whole god damn internet where everyone could read as they please. Restricting the flow of information, controlling the discussion... Pretending to build the web 3.0 just as they use the same bullshit con artist marketing crap from the old days. Fucking Jews, every single one of them.

>hello! I’m Eyal Hertzog from Bancor
>Lets all welcome @eyal from Bancor. You can all start your questions now.

Here we go.

$1,000 in STRAT at ICO is worth $400,000 now.

You can easily get invite to any crypto slack

You got it my dude. I'm here to please the people.

Motherfucker I'm going to post the entire transcript here. Relax. take this shit to /x/

And anyone can come to this and read and participate for themselves.

so you can scam me?

fuck that just post as it goes along since i'd like to have it all anyway
What is the total supply of bancor, how much will bancor cost to purchase via ICO and when will we know if bitcoin suisse has accepted our documents or not
>The supply of Bancor depends on how much is raised during the crowdfunding. Details of the token sale will be announced in the next few days. Bitcoin Suisse typically takes a couple days to process documents. As today they are running the Mysterium token sale, there is to be expected a slight delay

Will there be any other ways to purchase Bancor at ICO other than Bitcoin Suisse, they are asking for an awful lot just for an ICO purchase
>Bitcoin Suisse is a pre token sale option for those who wish to come in with Fiat, require help transfering their crypto or want the peace of mind knowing that their participation is pre ordered. During the token sale, it will work like many standard token sales and you will be able to send your crypto to the contract

How would you - shortly & in easy words - sum-up the advantages of BANCOR to magazines and non-crypto people?
>Bancor protocol presents a solution to the Double Coincidence of Wants Problem in Asset/Currency Exchange. Using smart contracts and a concept called a CRR (Constant Reserve Ratio), Bancor enables smart tokens to achieve liquidity and price discovery asynchronously, rather than by matching bids and asks as in a traditional exchange. The implications of this, “money holding money” is quite profound. For one it opens up the long-tail of user-generated currencies. Secondly, it allows for a new kind of decentralized ETF (index fund) where anyone can become a pro-rata holder of a token changer network

Going balls deep on this one boys, the jews aren't gonna let us down

>Going balls deep on this one boys, the jews aren't gonna let us down

Someone Veeky Forums just said this?

youre on Veeky Forums
we are the jews

eyal just posted this himself

We have also just today released our Product Roadmap: blog.bancor.network/bancor-product-roadmap-ea4752d60082
For those with many questions, most of what we have been asked over the past few months has been added to a very extensive FAQ: Now available here - blog.bancor.network/bancor-protocol-very-faq-1849cd462c22
-----

Will it run on Ethereum chain?
>We are starting with Ethereum. Overtime, we will explore expansion to other chains and are already in discussions and evaluating half a dozen other smart contract enabled blockchains. We will however create token changers very quickly to enable cross-chain exchange of tokens in a decentralized fashion using Bancor smart token changers.

What are the three crypto-currencies that are most similar to yours and yet why is BANCOR different?
>Although very different, you can generally look at Maker DAI enable purchasing and liquidating the token using variable prices. However, their purpose is to create a stable coin. Nothing we have seen is really similar to Bancor in the sense that it seeks to use smart contracts as automated market makers of sorts, relies on external arbitrage bots to serve as oracles, and is focused on the creation of smart tokens.

Thank God, I was trying to stay low key among the goyim.

are you being serious right now ? kek.
It's just a custom token you supposed to add to your wallet to be able to trace it

eyal [12:18 PM]
The smart token standard, led by Bancor, and currently published as EIP228, creates an upgraded ERC20 compliant token with new capabilities we believe are critical to mass adoption of the cryptocurrencies. These include the intrinsic ability to handle its own price discovery, liquidity and includes features such as Delegated Account Recovery (ie. lost password) and Vault functionality.

can you already tell us what the ICO cap will be?
>Unfortunately this will need to wait until the formal release of the token sale terms which is around the corner.

eyal [12:20 PM]
You can check out some of the Bancor UX and instant messenger bots at app.bancor.network being used on MainNet for our bounty program. This was a fun experiment. All the bounty programs have their own real smart tokens which using the CRR method will be converted to BANCOR tokens at the end of the token sale. The program has been a huge success and many other projects have turned to us to utilise this capability in their upcoming token sales.

Bancor Smart Tokens can also be used as a digital asset, where I hold several ethereum tokens. What is the difference between Bancor Asset and e.g. Iconomi Asset? As I understood I can do the same on other platforms but with all kinds of currencies, not just ETH tokens?
>We are fans of ICONOMI and we hope to collaborate with them. Bancor is different in that it provides a standard for building your own index funds which you hold directly with the smart token. Initially on the Ethereum blockchain but eventually across blockchains.

this eyal guy takes 1 million years to reply to anything, holy shit.

bait hype

release the detailssss

I feel like he need a few drinks to loosen up. I feel like I'm reading a goddamn press release.

Is it possible to buy in as a common Veeky Forums pleb? Without bots, scripts or anything?

don't waves, bancor and 999x things do the same thing?

the crowd funding seems pretty good.

what is your timeline right now for the ICO and what do you hope BANCOR accomplishes in the next 12-24 months?
>Our past companies had 50 million and 10 million active users respectively. Our mission is to bring cryptocurrencies to 100's of millions of consumers and help democratize credit creation. We have been working on Bancor with 7 developers and a battle tested team for approx 18 months. In that time, we’ve built the infrastructure we need to address some of the toughest challenges in the mass market adoption of cryptocurrencies. You can get a sense of the platform with our bounty program (bounty.bancor.network), we will try to release a full alpha with user-generated currency bots on a private testnet in the next few days and our development roadmap (including recent accomplishments) is now available: blog.bancor.network/bancor-product-roadmap-ea4752d60082

KA-CHING

That lad, is the sound of cash registers...

solid nonanswer to timeline for ICO
good dancer

Did you find out? I think it's being pushed back due to a fuck ton of other I CO's going down at the same time.

Ha, I thought the exact same thing. This guy is just giving us scripted answers. Still he's coming across very professionally. Still not sure about this one tho.

Well he's already said a few times that the ico address and such is coming in the next few days, I agree that he's talking like a marketer though, but then he is MARKETING SOMETHING

What is bitcoin suisse and cant I just transfer them coins like any other ICO???

Holy shit, his last couple comments make me think this could be a home run.

Whats bancors realtionship to block chain capital in the bay area?
>Many of us grew up in Palo Alto and built startups in the bay area. We feel at home in the Silicon Valley. We recently announced in a BCAP group that we have a relationship with Blockchain Capital. We will announce more details along with a number of other partnership announcements in the very near future.

Why didn't you create your own blockchain to be able to create smart tokens with all kinds of currencies? This young market could shift within a short time period into any other direction, like Bitcoin's Rootstock, Stratis, Syscoin, Ark, or whatever coin that could support Smart Contracts.
>We are looking closely at the different solutions for cross-blockchain interoperability and look forward to quickly enable users to move value between blockchains using the Bancor protocol. We’re staring with Ethereum since it’s the most mature smart-contract enabled blockchain, which is what Bancor requires to operate.

Is there already some plan or future business relationship with merchants, exchanges or anything that BANCOR could be used as a payment method? Anything you want to share already?
>We can't share specifics just yet, but we are currently integrating credit card payment processing solutions to make the process of getting into the space the simplest it can be from an end user perspective. In the end, our passion is in the creation of consumer end-user Internet applications that connect between technology and culture. We intend to apply the best practices we learned building internet scale startups in the past to our work today on Bancor.

eyal [12:34 PM]
We are also integrating with different wallet software developers to provide token changer services to their users. More on this in the future.

What is bitcoin suisse

this

What are the incentives for smart token creators to issue more bancor contracts?
>the main incentive to create a smart token (rather than a standard token) is that the “liquidity risk” is removed.

One newbie question, let's say I want to convert my Ether into Zcash. And then tomorrow I want to convert Zcash to Dash. How is that possible using Bancor protocol? How does it actually work without need of the exchange services like Poloniex or Kraken?

We all know that currently if we want to buy altcoins we need to buy BTC first. Is this something that Bancor want to change in the future?

>The solution is through a decentralized network of token changers. We are seeding the first popular ones. BANCOR/BTC, BANCOR/LTC, BANCOR/ETC, BANCOR/ZCASH, etc. In this scenario you would simply convert your Zcash to Dash, while in the background it would convert from Zcash to BANCOR and from BANCOR to Dash. There may also be an ETF/Index fund that has a mix of more than two currencies, perhaps all the anonymous coins (Zcash + Monero + Dash + BANCOR) and those can be used as well. You'll get the best rates across the network even if behind the scenes your money is converted across many token changers.

doing the work of gods at marketing this lol..

Aren't these AMAs fucking bad ass? I wouldn't mislead you guys.

Is there already some plan or future business relationship with merchants, exchanges or anything that BANCOR could be used as a payment method? Anything you want to share already? Do you plan to expand your team after the ICO? and will you hit American and Asian exchange markets soon?

>BANCOR technically doesn't require an exchange. It is the first token of its kind that can always be converted to ETH with no exchange. However, we are in discussions with many of the key exchanges globally. Yes, we are planning to expand the team, and we are looking forward to hit multiple exchanges, but in BANCOR’s case, the liquidity of BANCOR to ETH is not dependent on it.

That sounds pretty huge.

I'm glad I woke up shortly before it started.

I still don't get it, what brings Bancor tokens value ? Why should I want to buy and hodl them ?

Bitcoin suisse.. What is this shit and why do I need it

literally ask in the fucking AMA that is going on RIGHT NOW you twat

These ARK dudes are trying to make this a regular thing. I really dig the ARK community. You dudes should definitely hang around their Slack. It's a breeding ground of weird autistic fucks who are crypto obsessives.

I can think of a million reasons why you would want to hodl and none why you wouldn't

>tfw he responds to some fucking retards asking questions they could get an answer for themselves by just reading and doesn't tell you when the fucking ico is going to be released

you don't need it, just wait for the ICO

he can't say when the ICO will be released, they have to be silent due to legal restrictions. But they'll communicate those details in the next couple of days

but it was supposed to come out on 30th...

Can you please explain Constant Reverse Ratio?
>Sure. CRR is is the ratio between the value of the reserve, and the value of the entire supply of the smart token (market cap). so a token with 10% CRR of ETH, and 500 ETH in Reserve, would have a 5000 ETH Marketcap ( meaning that if the supply is 1000 then 1 smart token = 5 ETH)

Here's a question from another chat room that's following this AMA: what brings Bancor tokens value? Why should I want to buy and hodl them?
>I used to be a developer in the early years and founded Contact.com social network in 1998, then Metacafe (video sharing) and AppCoin (currency/marketplace platform). Yudi Levi was CTO of multiple venture backed (and acquired) startups including Mytopia, Particle Code and AppCoin. We have all been in the blockchain space since 2011, mostly based in Israel since then. Ilana is a very experienced development leader, having worked at large scale fintech companies in Israel and abroad focused on trading software. The rest of the team are passionate elite software developers that have been with the founders across multiple companies in senior development roles on front end, backend, devops, native app development, etc.

Right? Some of you fucking NEETs are cringey? There's millions of dollars at stake here. Act like a champion in there, be an autistic faggot here plz.

>sir
are you larping a Pajeet? :^)

Read

TY sir ;)

That's not what I asked.
I mean why the fuck the token's price is supposed to grow.
How does it make ME M-O-N-E-Y-S

ok I see now

>What is the BANCOR network token?
The BANCOR network token is the Genesis smart token to be deployed, establishing the
BANCOR network, functioning as its native currency. The BANCOR token will hold a
reserve in ETH.
BANCOR tokens will be issued in a crowdsale. The crowdsale proceeds will be used to
deploy and continuously evolve a user-friendly web/chatbot interface for issuing and
using tokens in the BANCOR network, to support various efforts for growing the network
such as investing in the reserves of new tokens, and to make the initial deposits required
to set up a new type of high liquidity decentralized token exchange network based on the
Bancor protocol, using 100% CRR token changers.
All smart tokens issued within the Bancor network will hold the BANCOR token as a
reserve (though they may also hold additional reserve tokens.) This means that an
appreciation in the value of any of the network’s smart tokens will appreciate the value of
the BANCOR network token, benefiting all other smart tokens in the BANCOR network,
since their reserve balance value will increase.
BANCOR will also be used as a reserve for the token changers that make up its
decentralized exchange network. A BANCOR token changer is basically a smart token
that holds a 50% CRR reserve in BANCOR, and 50% CRR reserve in an existing, standard
ERC 20 token (e.g. REP, GNT, RLC) allowing end-users to easily convert between the two
buy buying the smart token with one reserve token and selling it for the other. In the
future, Bancor plans to support additional tokens as well.

eyal [12:48 PM]
@tipsphedorae Yes, you will be able to send ETH from your wallet without intermediaries. Details will be published soon

eyal [12:51 PM]
Bancor will be available on every smart-contract blockchain platform with enough traction. It’s somehow similar to a consideration of building iPhone vs. Android versions native apps - it’s important to be available where the users (existing and potential) are. As long as assets from one blockchain can be moved and represented on another blockchain -- then Bancor can work between them.

If there comes a new blockchain or token which can create these kinds of assets with all currencies, not only focussed on Ethereum – how will you react? I mean its not very unlikely to happen...

Is BANCOR token going to be the main reserve token?
>Yes. In the service we are deploying (see app.bancor.network) BANCOR will be the primary reserve token for every created smart token. This creates a network effect between all the smart tokens created on the platform.

do you plan to implement Bancor protocol on RSK? maybe you are in touch with their team?
>RSK looks very interesting. We would want to see it go live first and gaining some momentum before we start integrating with it.

Cute!

google "network effect" you damn nigger

This is gonna be big...

...

1. Where will I create these smart tokens, on the Bancor Website or an App? 2. What are the transaction fees of creation smart tokens, liquidating them, interchanging tokens, etc?
>1. You can take the smart token code (available on our website) and create smart tokens. We will provide a simple to use user interface to do it at app.bancor.network (not available now, but preview will be available soon)
2. we will cover the initial smart token creation transaction fee as it is all quite experimental at this point. I don’t have the exact gas cost for each type right now, but i’ll look into that and get back to you.

What the fuck does everyone think so far?

Reposting my question:
Is it possible to buy in as a common Veeky Forums pleb? Without bots, scripts or anything?

all i see is a lot of lingo the common person wouldn't understand or care about

Seriously these ICO's need to make things simple and plain.

I have no clue what they are talking about to be honest.
This isn't about Pokémon cards, is it?

Is ICO over? Will sell blood and seven to get in on this one.

Huge fan, seems like a winner. Going in for a grand at the ICO and hodling.

What are some of the use cases for smart tokens?

There are so many potential use cases for the Bancor protocol and smart tokens that it is
similar to asking what are the use cases of Ethereum. It’s improbable that we could
imagine all of them, but there are some of our favorites:
● Complementary Currencies: Communities can benefit greatly from creating
additional units of credit and encouraging collaboration on the local level. These
currencies don’t necessarily replace national ones, but rather complement them,
filling in pockets where liquidity may be missing or commerce takes place entirely
locally, thus freeing up the national currency for other uses. Giving communities
access to a tool they can use to efficiently buy and sell goods and services from
trusted members creates real abundance for families, students, affinity groups and
the cash constrained. This same use case works for online group currencies. You
can read more about community currencies online and find lists of active
communities, many of which are evaluating the Bancor protocol for adoption.
● Business Loyalty Point Programs: Whereas individual businesses struggle to make
their custom loyalty programs sticky enough for customers, issuing smart tokens
which can also be exchangeable to other tokens in other networks creates
tremendous value for customers who can now access many more items. This
creates additional stickiness, and strengthens cooperation between businesses.

Wait until the autistic fucks in the channel start talking tech about it after the AMA. That's how I usually decipher the stuff that went over my head at these AMAs.

Same, first coin I've seen in a while that actually made me excited about its fundamentals rather than p&d potential
yes

● Token Baskets (i.e. decentralized ETFs or Index Funds): Created via the Bancor
protocol by setting the smart token’s total CRR to 100%. This means your smart
token can represent any combination of other tokens or tokenized assets, creating
a decentralized, organically-balanced token basket, owned directly by its holders.
For example, your smart token can hold 50% Augur REPs and 50% BCAP in its
reserve, and its price will track the relative changes in Augur and BCAP values
through arbitrageurs.
● Content Creators: Artists can also create smart tokens that serve as the method to
purchase their work or attend a show. These smart tokens serve as their own
distribution medium (so the artist & buyer don’t pay a commission to any
middleman), can be easily exchanged between people, and can be set up such
that the price will rise as demand rises.
● Crowdsales: Anyone can use the Bancor protocol to create always-liquid tokens
not dependant on any exchange. Your token will be liquid from day one while still
remaining compatible with the architecture of all existing cryptocurrency
exchanges. By using the Bancor protocol, new altcoins can achieve greater
market depth than what is typically provided by exchanges, even for the largest of
cryptocurrencies, by essentially pooling all the liquidity that would normally be
spread across many exchanges into a single, “global-exchange” provided by the
smart contract (through its reserve). The result will be lower price volatility for
customers without any counterparty risk.

Invite me to the amazing plz

[1:06]
● Token Changers: By creating a smart token (similar to a token basket) with 100%
CRR and multiple tokens in reserve, you enable anyone to instantly exchange one
reserve token for another. Unlike a token basket, whose purpose is to serve as an
index fund for those wanting to take a position across multiple currencies, the
purpose of token changers is to exchange one token to another. A network of
token changers results in something akin to a decentralized Shapeshift, where
users can come to exchange any currency on the Bancor network for any other.
Since Token Changers can charge fees for their conversion services, anyone who
wishes to provide liquidity to the token changer (rather than just convert one
token to another) gets to participate as a part-owner in a crowdsourced exchange,
enjoying their pro-rata of the fees taken by the Changer for its automated
conversion services (and accrued to its reserve, thereby appreciating the smart
token’s value). Software companies building online wallets for tokens can now
offer exchange services directly inside their applications and open up a new
revenue stream overnight.
What we’re most excited about is the innovation we’ll see from the community.
Historically, long tails are formed when barriers to entry are reduced. Bancor is enabling
anyone to create a viable value network in their image. There are hundreds of thousands,
even millions of potential digital currency entrepreneurs out there, and they will teach us
about the power of the protocol and the platform.

Here you go my dude, welcome.

ark.io/slack/

I would cum in her jewish pussy

Hi i have been watching your project since it was public. Very excited. If this get adoption over time it will have huge network value. from your point of view, as a devloper what is the most clear use case and goal of bancor
>Our goal is democratize credit creation and unlock the long tail of user generated currencies. We believe this can bring a paradigm shift in money creation and help end poverty :wink: to not sound to unreasonable and wishful. We also believe that an asynchronous autonomous exchange will be extremely competitive and offer an alternative to all the exchanges currently out there (including the new decentralized protocols)

the Token will be released after the ICO ends?
>The token will be released after the token sale however it will be a few more weeks until we release the Bancor protocol functionality and it will become intrinsically tradeable. This is a new breed of smart contracts and we've taken the time to secure three independent audits. 2 from heads of security at Ethereum Foundation and one from the entire smart contract team at Consensys

Thank you so much to everyone for hosting us. We come at this with an open mind, good intentions and the desire to rapidly build real products that will have an impact on the day to day lives of everyday people. We welcome all feedback and are constantly looking for more partners to join us on this exciting journey during these unique times we are all experiencing together.


What is the consensus? not sure what i think. seemed a bit too market-y

These AMAs are the best because you have tech nerds grilling these guys and you get so much info that isn't available anywhere else.

Can someone teach me how to participate in an ICO? I have 5 ETH sitting on Coinbase I want to throw into this shit.

Also, anyone know what the ICO will be valued at?

notyourpersonalgoogle

fuck off retard

You need bitcoin sissi or something like this. Just Google blitter sissi

Tried googling it too. their site has jack shit about the ICO on it.