Preface: I'm really dumb

you can just admit that you didn't read/understand the white paper buddy.

Bancor is:

1. getting the public (you and I) to fund their ETH reserves (at no benefit to us, the backers)
2. So that they can charge interest on every transaction that flows thru their exchange
3. basically profiting on every shitcoin, while avoiding any of the downside risk associated with the high number of shitcoins out there

Seems like funding bancor is good for them and not so good for the investor

Does anyone here actually understand Bancor?

I was either too lazy to read the paper, or too stupid to understand it (I'm too tired to remember) so I watched this video explain it
youtube.com/watch?v=d2ISGgQ9OU0
Basically it sounds like anyone can just create their own token, like a bank creates money - there is a reserve ration - and the smart contract will automatically create a market and price for it - you don't need another person - the algorithm will just figure it out - so I guess big players will use this and create their own money and economies with it - I think - I don't really know

I do. Expensive liquidity between community currencies and random shitcoins. The value of a BNT has nothing to do with ETH or fees. People are just shilling.

Not 1 man in a thousand I bet

you do understand that with every shitcoin that uses Bancor as a reserve, the value of BNT increases right?

somewhat. However, their selling point of being a global savior, especially for poor regions/communities is kind of a joke.

The example they give of how poor communities can use their own poverty-coin to exchange low-end services for goods, while using Bancor as an exchange within their community makes zero sense.

Why/how would someone in a low-end community, who is forced to rely on bartering with shitcoins, have the tech infrastructure to be able to utilize a service like bancor? And how would that benefit them in regards to the outside world? You don't see people exchanging Disney Dollars outside of Disneyland...

Nobody knows what's going on. 90% of coins won't be around in 5 years. Just hope for some quick gains.

How is this different from waves?

Technology is cheap. Smartphones can already be bought for 20usd.

Yeah you got it sorta. Just imagine that for example: I got some shitty savings stamps from a shitty local supermarket bases in the USA, these stamps are normally only good to be used inside that supermarket. However, thanks to bancor I can use these savingstamps anywhere in the world. I could pay my taxidriver in China with them.

Bancor makes it possible to 'digitalize' the stamps and let them have value and be tradeable anywhere in the world. Simple amazing.

which is why the street shitters preferred coin is DGB.

I'm a noob and I'm confused about how the people who participated in the ico actually receive their bancor., like, if the Bancor gets sent to an ETH wallet does it convert it automatically? I don't understand. I missed out on it anyways but I'm still confused on this point

Because those Disney Dollars currently have no value outside of Disneyland. This problem is solved by Bancor. Any token created on the bancor protocol (DisneyCoin for example) can be traded and always has value.

blog.bancor.network/how-to-contribute-to-the-bancor-protocol-fundraiser-4306654a1a08

myetherwallets can hold those BNT

So it's basically just waves 0.2? I rather buy the pioneer in that case desu

And BNT is supposed to be pegged (and worth) 0.1 the worth of the initial ETH investment for the next 2 years

does noone want to give this a serious shot... haha

Bancor = Waves - token issuing

how about that biz

you killed my thred

Well this person's statement is incorrect. Try watching the videos or reading about usecases on bitcointalk and the subreddit if the whitepaper is too hard for you

No it doesn't
Stop saying this in every thread.

If you didn't buy bancor and actually gave in to the anti-Semitic FUD which was mostly posted by Mossad agents, you will probably end up killing yourself in 6 months.

I decided to research this further as I thought I had read that this was somehow the case. It seems that when a non-Bancor created token is stored, a fee in BNT is charged. This fee is removed from circulation, thus lowering supply. I got this from a quick reddit search through which I found this: reddit.com/r/Bancor/comments/6ggin5/anyone_creating_a_basket_token_on_the/ read the comments by the Bancor guy. I will look into this more

bancor will be the future and Ill buy a nice house from my bnts in my mid 20s. Life is good.

Bancor is simply in the middleman business.

For the same reason I don't use cards that charge foreign transaction fees when traveling abroad, nor do I pay fees to Venmo and Paypal, so why would I want to be charged a tax on each transaction that flows thru bancor?

Blockchains are designed to allow people to DIRECTLY transact. So why should bancor be paid to intervene and charge both the buyer and seller during a transaction?

If you want to accept/exchange multiple coins, then just use multiple wallets. It's that simple...

You already do this with different credit cards (visa, mastercard, etc.), and debit cards, right?

Bancor is just an attempt to launch the creation of a major-crypto-bank and stick it's hands in everyone's pie. It's simply unnecessary with a blockchain platform.

All I am gonna say is no. Cant bother to actually get deeper into that someone else who cares pls.

where and when can i buy bnt?

everyone has been deceived by the jew... again. It will last as long as the scammers can still find more people to scam.

Seriously though, there was a paper written back in 2010 by the IMF proposing a 1 world currency called BANCOR. Turns out Bancor is identical to that plan. So, if you don't mind helping bring in a totalitarian one world dictatorship, go ahead and buy Bancor.

I think you need to flesh out the world bancor envisions a bit more before you pull it down. Bancor thinks there will be so many blockchains with fuel style tokens that there will be no liquidity. This is a blockchain as medium of expression realitly.. Its extreme but thats the high bar. Without addressing 10million new 'altcoins' a year or a month or some abusrd number reality its hard to reject their use case.

Yada transaction fees.. Therr is already so much comepition for bancor.. But yea the solutiom for the network liquidity (network of xbillion altcoins) is not to get wallets. Ur thinking like a trader. I think the best thing to hate on is their ponzi fund raise model.. Is that valid?

Can't tell if serious
The West is already doomed, demographics can't be stopped, might as well be one of the good goys who can afford a seat on the starship

yeah people watch out. Bancor == dictatorship and 9/11 cant melt cheese bars and lizard people are destroying the sun from inside. Plz help the universe

ITT: people who gave all their money to an entity they cannot even comprehend or explain

Enjoy getting fucked in the ass by the Jews

I'm not thinking like a trader, I'm thinking like a consumer.

Credit cards and online payment services like Paypal and Venmo have already proven this model for us. We know what works.

If I had to be charged a fee for using my visa card or paypal because it had to be exchanged from one payment network, to another, I wouldn't use that payment system. There's no incentive.

>buy orders filling up on exchanges put my £600 ICO investment at £8580

>tfw didn't put in my life savings

Youre assuming that a store in south america wants to accept the token that a montana hyrdo company issues once the ultilty markets are managed by a blockchain.

The demand for mc/visa network is much higher than any erc20 token..

I could be preoccupied and misunderstanding you.. How does your problem with 'fees' work with Token card. The reason visa doesnt charge a fee for changing currency is bc its on the same network! The fee for visa is some places dont take it + the lend

Which exchanges my man?

hitBTC (already trading IOUs for BNT with some sort of escrow setup)

Liqui.io (allowing people to place buy orders before anyone can deposit BNT to sell)

wow you are really lost, aren't you? A paper by the IMF about using bancor written in 2010 is not the same as lizard people. Next you're going to be making fun of all those people who believed that the tobacco companies were covering up cancer cases!

And just to show how full of shit you are to everyone else, here's the paper from the official IMF website: imf.org/external/np/pp/eng/2010/041310.pdf

O you mean the gooks inflating the IOUs price in that Hong Kong platform? You are delusional if you think that will be the price when it hits a real exchange

sounds profitable

OY VEY i put 10 eth into this m8. noice.

>Youre assuming that a store in south america wants to accept the token that a montana hyrdo company issues
No, I'm not assuming this. I think this point is irrelevant.

Just as we have common payment systems (paypal, venmo, visa, matercard) that pretty much cover any type of transaction experience that I can think of as a consumer or as a private service provider. It stands to reason that there will be a handful of major/international coins that will fulfill all of the buying needs most consumers have.

Currently, it's costly for banks to transfer money across different networks, yet, when I travel, I pay zero fees.

Therefore, I don't understand why I would pay a fee, as a consumer, to bancor?

Obviously there are rare cases where an exchange service like this is useful, but I can't foresee this being the case for many mainstream consumers.

And you're right, tokencard is no different in regards to fees, imo.

Bancor is a token. It's literally worth nothing if we kill ethereum

Bancor will be implementing a fee for every token transaction, there will not be incentives to use this platform in contrast to the many other platforms that exist and will come

Wish the volume was heavier on those

I'd cash out a heap at 14x

When does it hit exchanges - next week right?

You can't trade on hitBTC only the exchange owners who hold the IOUs.

Its massively over inflated and ofc iqui.io has crazy buy orders, its a meme to have a coin start at a ludicrous price when its first introduced, fucks up the graph for a tiny bit off money.

Monday

agreed. This is why I claim that they're in the middleman business.

Essentially, the "need" they're trying to create will simply not be necessary or a reality once people start to understand the underlying technology.

And more importantly, once they understand that the "incentive" to use a service like bancor simply doesn't make sense given the possibilites of blockchain+smart-contract services.

It's just like the current banking system now: you can choose to use a very expensive bank and get ripped off with all types of fees (e.g. bancor and similar initiatives), or you can opt to use your money more wisely (e.g. credit cards with no foreign transaction fees, venmo, etc..) as the underlying technology will allow, free of charge :)

What do you think about Monaco card. They claim the charge no fee

Is this arks smart bridge with working tech?