From Galia's blog:
We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, we have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:
20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.
80% will be locked for two years in a smart contract that will buy back BNT for 0.01 ETH (the initial price) whenever it is available, according to its calculated price. The purchased BNT will be added to the Foundation’s long-term budget, and after a 2-year period, any remaining ETH will be allocated pro-rata according to the “Use of Proceeds” chart in our Token Creation Terms.
We believe this model can create a price floor that will address these concerns from some members of the community that we’ve been hearing and listening to closely: that a large contribution event could possibly result in a post-fundraiser price drop, to below its initial price, due to fully saturated demand and evergreen supply. We like this new model even better, so thank you again community for challenging us to improve it.
Why no Bancor post now that the ICO terms have been updated
Other urls found in this thread:
blog.bancor.network
twitter.com
I actually really dig that
So they think they can get around the prisoner's dilemma ?
1 million eth cap?
L M A O
they basically put in a giant non fake buy all holy shit this guarantees some good gains. I double my investment
>mfw bitcoin suisse STILL hasnt got back to me
i fucking hate kikes.
Needs to be 1billion
All in on Bancor?
same
REEEEEEEEEEEEEEE FUCKING MOUNTAIN JEWS
Are you guys in 'the queue'?
Also she actually says 'hodlers' KEK
They said I was in the queue to be processed two days ago
t. applied on saturday
This will end in tears.
After the ICO is there a way to confirm the transaction? Also how bad will this fuck up the Ethereum network?
80% reserve buywall at ico price.
you mean tears for anyone trying to get cheap bnt after ico kek
I applied on Monday and it said it should take 1-3 days because of heavy traffic am I even in the que I feel like im not going to get in?
nigga you gonna stay poor :D
I applied on Tuesday and i got in.
I really fucking hope they can handle the traffic I'm going in deep on bancore
what sort of returns can we expect from this if we buy at ico
especially if they raise so much money
2x probably. won't be huge because of the uncapped. DAO raised 100 million and went 2x before it got hacked.
How many coins total?
This is going to end badly for ethereum. If they raise 200m then every hacker is going to come out of the woodwork to get that.
Is this going to be good to invest in now?
Will BNT move to bittrex?
I don't wanna use that shitty yobitt exchange.
Looking to HODL long term
Fucking hell what did I do wrong what did you put for the monthly contribution
Most of the ETH assets move to bittrex fast
I don't think you can transfer the tokens for a week. This really makes it hard to decide to go for this or status...This is guaranteed to be able to get in, but status might have better gains because it is capped, with the possibility of not being able to get in like with BAT. Tough choice IMO.
Please tell me this is not real.
GIVE ME MY FUCKING SWISS BANK ACCOUNT
I applied on Saturday and received my automated reply but nothing else since then.
Should I bother spamming them with an e-mail?
going all in, fuck it
Bitcoinsuisse has still not messaged me. I got the automated email on Monday.
am I out, lads?
Putting 5k in the ICO. I'm in it for the long run so I don't really care if there is a slight dip right after the ICO.
I'm 90% sure I'm going all in into Bancor anyways
How much did you say you will put in?
Id add to it but >no muricans allowed
15 eth
NO REEEEEEEEEEEEEE STOP GOING ALL IN STOP DILUTING MY INVESTMENT
Same, and it is weird that it is still stuck at 62% after all that time
putting all my cash into it going full jew
says 70.5%
That's quite neat. So in the end it comes to which will give more profit in the long run: hodling eth or converting it to bnt
Going all in on this
I told to all dumb niggers to buy this. But they want to be poor fags. Let them be. Team provided so mucu chances so you don't miss out. You got to be DUMB as wood to miss this.
Yep. They confirmed recipe of my ETH today only £2000 as I'm low on cash at the mo but still it's something. My first ICO
I'm not doing that, but I'm going to dump 20-30 ETH if I can. Will the Jews make out the most from this? Of course. But they always give a taste to the goyim.
>tfw im too dumb to understand what this means
Fucking stooges, participating in the beginning of the death of what makes crypto good. If you give these people your money in exchange for their worthless fiat, I mean tokens, you're an idiot.
this
but basically they will buy back BNT if it ever sinks to 0.01 ETH
they're gonna use the money you buy bancor with to buy more bancor, to create a price floor i.e ensure no one loses money
No way this crashes day one
>supporting bancor
Someone tell me who they're targeting with they're coins? I literally haven't gotten a straight answer. No one's going to use this shit
Anyone you fucking retard, just like any other coin
literally the huge masses
They can - we'd be all invested in this thing's network effect after all and this would help limit people trying to profit in the short term.
Same - I can't be fucked.
Fucking hell. You are better off making some slick marketing page with an absolute minimum viable product, do an ICO and then just sell the company.
These fuckers are offering nothing but nice graphics and some big name team, yet raking in millions. Just like BAT. If a product is really good, like stratis, it will raise in value regardless of their ICO (just raising funds to build the product). No way BAT needs 30 m to build what they plan to do...
But then again, most of these ico's x4 in days after the ICO, so I get why people are happy to throw money at it. Really sticky situation.
Read the blog post. They are setting a smart contract with any extra funds that will buy BNT if it slips below ico price
blog.bancor.network
Are you joking? Did you read and understand the whitepaper? They are making a decentralized exchange with absolutely no vaporware. This is gonna be big
For that, nvo has the better tech.
LOL stay goyim my friend
How do I buy bancor...I thought suisse wasn't necessary.
Read the paper
So NVO is still a real-time coincidence of wants exchange? Doesn't provide 100% liquidity or capture the long tail of crypto? Doesn't enable crypto-ETFs?
Yeah it sure is better than Bancor
>the masses
So normies that don't even know what the fuck crypto even is? Call me when Bancor actually does something decent
Whole point of buying into the ICO retard. Get in cheap before the masses catch on and before the product in developed. Once both those points are achieved then bask in the money from people like you buying in at 100x the price in 2 years time.
100x in 2 years?
Assuming 500m market cap, you need 50Billion market cap for that. This thing will have to be more adopted than ETH.
don't spoil their party with math man!
Actually it's only 250M max with the 1M ETH limit.
Then those 250M will be 1B in the first month, 10B in the first year, and 25B in the second.
Trust me, I hope.
That's assuming that the ETH market cap doesn't grow at all in the next two years. In my eyes ETH is only getting started.
1M ETH (260m USD) security cap just means that's their goal. It will go well past that in the 1 hour minimum time.