(((BANCOR))) General - Uncapped ICO Edition

What is the game plan here?
Can we somehow get gains from this ICO?

With an ICO without a cap there should be a huge crash after it gets to the exchanges instead of huge gains.

Other urls found in this thread:

bancor.network/static/Bancor_Protocol_Whitepaper_en.pdf
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>What is the game plan here?
Laughing at the cucks who already bought on bitcoinsuisse

Pretty sure not buying this shit will be considered an antisemitic hate crime

So this coin is already dead before its born?

someone explain to me whether BNT will be 2.50 USD when it comes down or will it be of lower value because there is no cap for one hour.

Remember: goyim will NOT receive the dump warning

I do not understand the tricks that (((they))) are pulling with this one myself, but I know if anything beneficial ever came out of spending 10 years browsing Veeky Forums and reading about Jewish conspiracies, it was me finding out about Bancor before it became the world currency.

This coin will probably siphon value from every single other coin on the market and totally reshape the crypto ecosystem as we know it.

I will profit from their actions this time.

This coin has gone from hype to hatred everywhere. Lol fuck bancor and its uncapped ico. Shouldve seen one of the devs justify it in the slack, "nah we're not doing it for the money, we care about the project hurr durr"

Not one of the devs addressed the gigantic fucking elephant about the investors interests.

why would you buy at an exchange if you can just buy into the ICO?

there will be massive selling if the mcap is too high.

the kicker is that the cap will be secret for the 1hr so you have no fucking idea what you're buying into.

>i have become jew, destroyer of crypto
your final form, realized. sad.

this.

i should have seen this age old jewry from miles away.

my one chance to FINALLY BECOME the whale and get a garunteed 5x roi, and these christ killers do a u turn and say 'lol no we want the $$$'.

wrong quote but it'll be 100 BNT = 1 ETH so it'll start at .01*ETH when it hits exchanges

plus when you factor in the 20% "foundation", 20% "promotions" and 10% jewtax you'll only get 50 of the 100 you pay for

also fuck bancor

Dead On Arrival.

The owners want to play with investors hands by getting massive fucking whales in the market and have huge sells right out the gate.

Do not support this coin, you're supporting ((them)) if you do.

So, let me get this straight. There is no need to buy bancor on an exchange because any eth token can be turned into bancor via a smart contract, and bancor into any eth token.

The more people turn eth into bancor, the higher the value of bancor.

What I don't get my head around is that by turning eth into bancor you essentially mint new coins. How does that make the value increase?

it's a ploy to hoard all the ETH and give you a token they control.

Yes because ETH itself isn't a banker controlled asset right?

eth would be destroyed upon its transfer to becoming bancor

The only thing I know is that EVERY ICO project, no exception, increased in value since its launch and this one is probably the ICO with the biggest commercial potential.

I was thinking about buying through swiss BTC, but having to give my ID plus 100 CH is just too jewish. The best bet is to buy at the right time when it hits exchanges

>The best bet is to buy at the right time when it hits exchanges

you'll be able to trade any eth token for bancor 7 days after the ico via smart contract you don't need an exchange that's the point

How can you do that? ETH wallet? Bancor wallet? Their site?

At what rate? I mean how much do we potentialy lose by not taking part in ICO?

I'd be willing to buy like 2 ETH worth of it, not more because I'm poor and diversified. Paying almost 20% of it for getting into ICO doesn't really seem to be most profitable thing to do, especially with potential dump.

eth wallet, i believe
the rate will depend, i can't say. all i know is that the ico price is 1 eth = 100 bancor.

BANCOR allows the creation of coin changers. You find the address of a coin changer that will do the conversion you want, then send it the token, it will send you back the Bancor (or whatever else). Something like that, I read the FAQ at least.

So let see if I got this straight. Let's say I exchange 5 ETHs for Bancor and atm I do that, Bancor is valued at X. Depending on how many people are trading ICO tokens or ETH for Bancor, Bancor will increase its value.

But say, how can Bancor decrease its value if people don't trade it at exchanges? If everyone is trading Bancor via smart contracts, its value will only increase and never decrease, since no one is able to sell it.

This is the jewest thing I've seen in a while.
Will go all in.

>lowering amount of ETH in rotation
not gonna buy this kike-shit but still makes me moist

Wtf is a coin changer?

Going on how FUBAR'd the network was during the hours following the BAT sale I'm guessing there will be plenty of plebs who won't make it in during that hour. They'll use default gas and their eth will be tied up for the duration of the sale before getting kicked back. With that in mind it's a buy for me. That and JOOOOs

Any news on the ICO status? They seemed to receive a LOT of backlash yesterday and wanted to hold an AMA and stuff, any sign they might rethink how they are handling the ICO?

you buy bancor with eth - it's value will increase, you sell bancor and take eth from the reserve - it's value will decrease. I think that's how it works, but I'm not sure

Nop they seem to be quite set on their decision. I'm pasting one of their responses, what do you guys think?

1. The most critical thing for us is to make sure that those who took the time to research and understand Bancor prior to the fundraiser will be able to participate. This is the reason behind the 1h minimum time.

Then why isn't there a cap per investor to ensure a reasonable issued market cap?

2. This is not a fundraiser for quick-flip investors wanting to get in and make a quick profit. That is not the goal of the protocol, the foundation, the team, the product or the project.

It's currently construed as a quick-flip for the Bancor team to get in and make a quick profit.

3. A large fundraiser will mean a large reserve (more liquidity, less volatility) and more resources to make Bancor a success, which we have detailed plans to implement. More bounties, more community grants, more explanatory events, etc. We believe this is in the best interest of the contributors and the project, and we are the right team to execute this vision. For those looking to hold their tokens, which are the kind of contributors we are optimizing for, this seems to us the best configuration and we are doing careful planning for the spectrum of outcomes.

More:


We actually view this quite differently. We think more vested participants and capital in the hands of proven software entrepreuners (who raised over $100m+ from world class venture capitalists in the past) with records of building end user applications used by 10's of millions of users is a good thing for investors and fairly rare in the current blockchain token space. The ability to issue more grants to compelling smart token projects is a good thing. A larger liquidity pool is a good thing. More token changers and ETFs being seeded is a good thing. More software development resources is a good thing.

99.99% of Bancor’s users will be arriving after the token allocation. Most from outside the current blockchain community. And even then most will not know they are even using the Blockchain. They will be buying BNT from the smart contract seamlessly with credit cards and so on.

My guess is that most of the people criticizing this configuration haven’t taken the time to properly research the project, team or model. Likely aren’t familiar with the long tail phenomenon and probably haven’t spent a lot of time considering what are the barriers to mass adoption of blockchain.

>"means a large reserve"
only 20% go towards the reserve, 50% go to community, bounties and dev team.

>"we want investors who hold their tokens"
I'm investing so I get a head start, not so I can witness a potential weeks-long dip after it hits exchanges

>"proven team and team"
30% of a 1hr unlimited, fuck off with your proven team you don't need 200 million dollars for your "proven entrepreuners"

Cryptocurrencies were invented to escape the cancer that is fiat and fractional reserve banking.

((((They)))) are bringing the cancer back into crypto so you'd better be ready at the ground zero to make fuck-tons of money out of this.

A smart contract that you can send one currency to, and receive another currency from. The conversion rate is constantly adjusted as the changer is used, with the expectation that arbitrage will keep the rate somewhat consistent with the rate on exchanges.

...

There can't be a cap per investor, because there's nothing to stop Whaley McRichfuck from creating a hundred different Ethereum accounts and buying from each of them. There isn't a way to distinguish a whale from a school of fish.

But who is that contract providing me with the currency that Im looking to receive? Who provides the eth when I want to exchange my Bancor for it? How is the rate decided?

The contract holds a reserve which it pays out of. Here's an example: smart contract holds 100 apples and 100 oranges. You want some apples, so you pay oranges to get apples. Now the smart contract has more oranges than apples, so the next time you buy, you will have to pay more in oranges per apple than you did before, because the ratio has changed. But it can't get too out of wack, because someone with apples will come and buy oranges if the price is good compared to exchanges.

For a better explanation, read page 3 of the whitepaper:
bancor.network/static/Bancor_Protocol_Whitepaper_en.pdf

The BANCOR fiasco has one good thing, its turning more people into antisemites.
Way to go, BANCOR Team.

That's not how it works. ETH is a reserve token. They said 20% of the raised ETH goes to Bancor reserve, so let's say they raised 400k ETH and there's 80k in their reserve wallet.
Converting ETH into Bancor would INCREASE the reserve, not destroy any ETH lol. If you converted like 10k ETH the reserve would now be 90k, thus increasing the Bancor price. Not sure about the Bancor supply though, in a basic conversion the supply also rises proportionally to the CRR but maybe they're gonna use token changers or something.

this is fucking bullshit

>(((THEY))) will never let me have 10x returns

I JUST WANT TO ESCAPE THE WAGEKEK LIFE.

on slack you just have one dev posting shit from the faq and telling people not to be anti semitic

lmfao

if only 20% of crowdfunded ETH goes to the reserve, that means everyone participating in ico will lose money, no ?
I can just buy bancor 7 days after the ICO via their smart contract and get a much better deal than those who get into ico ?

>waitwaitwait

what the fuck? so they just take unlimited money and no one will know what the fuck it is?

so if someone converts eth or wings or ubiq or any other eth token into bancor, those tokens go into the reserve? and then the price of bancor will rise and dip as those eth tokens it has reserved rise and dip too?

So during the ico, 20% of my ether goes to bnt reserves, but after the ico, if I exchange my ether using a smart contract, nearly 100% becomes bnt (100% less gas costs, exchange fees, etc)?

Why would I ever invest in the ICO? Gas costs will murder my transaction during the one hour investment period, and if I want to cash out shortly after using the smart contract (for whatever reason), my bnt would only buy me 20% of what eth I put in to invest.

How asinine.

But user... We are the jews now........

>mod in the slack literally deleted all my comments with 10+ likes exposing this jewry

SHUT
IT
DOWN

Which one of you is posting those jewish memes in the bancor slack?

HEY EVERYONE WE GOT A GREAT COIN, BUY BUY BUY ;) THERE'S HARD LIMIT AND GREAT OPPORTUNITIES
WHOOPS, UNCAPPED SALE LADS;)

It's not my fault you invested without signing a contract

GOYS

im really pissed off boys. this was gonna be the one for me. ive finally got a respectable amount of capital secured through bitcoin suisse, and if bancor pulled off another BAT i would be on my way to ascending out of the hells of the normie wage cuck life.

kek me

he has the time to delete my merchants but doesnt have the time to answer my questions about their u turn on investors

there are actually people in the slack defending this shit wew lad

Assuming this thing gets 500million, what will the price of it be when. It hits exchange? Will it reach 10x 50x 100x?

Lets say I have 100 BNT and I use Bittrex as my trading site. I want to sell 100 of my UBQ and buy 20 ARK. I do this by assigning my UBQ to the BNT smart contract and the ARK is pulled out of the reserve, correct?

How does this actually work on trading sites, like Bittrex? How do I sign my UBQ to BNT? The use cases describe the application but not the implementation in actual end use.

It's just the Bancor devs on shill accounts

bancornetwork SLACK

GET IN HERE, THEY ARE SCAMMING Veeky Forums LADS

SEEN THE MEMES ON THERE FACEBOOK

>It hits exchange? Will it reach 10x 50x 100x?
it will implode. so x0.5, or x0.3.

Don't you get it got? There will be no profit. Without a market cap, everyone who wants one will get one. This means that there will be no demand at exchanges because everyone who wanted one will have gotten one at the ICO. You'll be lucky to break even . Speculators got fucked.

this is true, none of you should get any so i can get a good share

I think that once they get to the "native iphone and android apps" part of their roadmap. which is two years from now, this will blow up. RIght now, I don't see how it will functionaly work, though. It seems like they are putting out the BNT tokens with no explanation of how you will actually convert X crypto to Y crypto from an end user perspective.

If that is the case, this will be a longterm HODL token that will increase dramatically once it actually has some use, but in the mean time...?

If I put in a buy order as soon as it's live will I still get cucked by whales that are throwing ETH at gas?

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