Re: Bancor critique

>was so butthurt he wrote a 50 minute article analyzing each and every line
Man being this autistic and insecure must be a daily hindrance...
He could have just brushed it off with "the success of our project will prove this to be wrong", or addressed only some key elements in Emin's article.

Not only that but he wont on a "I art holier than thou" tirade talking about what the community needs and how we need to work to change the world...
In short more buzzwords blah blah blah.

>He could have just brushed it off with "the success of our project will prove this to be wrong",
if he did that you cucks would be saying he was too BTFO to reply

>or addressed only some key elements in Emin's article.
so now you say that althouth he wrote too much, he should have written more. You also don't specify what aspects he didn't address

Why are all nobancs so fucking retarded?

Cause they are NoBancs

Gonna assume they got btfo I don't have time to read all that.

Holy shit, hows the kool aid treating you?

>fake news mentioned in the first paragraph

You've gotten the signs. I've been trying to warn people of this coin.

If you think that blogpost emotional dribble is constructive and addresses the original critique you are beyond saving.

Daily reminder that the goyim will not receive the dump pre-warning.

Not even shabbos goyim

This

If they address other sources as "fake news" then most probably they are the real fake news

Retards.
>nobancs
BTFO

Do they address their genetic heritage in this?

Waaaaait

If they can create unlimited bancor tokens what gives them their value?

They can only be created when someone purchases them, the price also goes up with each purchase.

Tokens get created when someone puts eth into the smart contract, and are destroyed when somebody sells bnt into it for eth

SHUT UP YOU FUCKING ANTISEMITIC GOYIM BASTARD!!!

>They can only be created when someone purchases them
'no'
medium.com/unchained-reports/bancor-unchained-all-your-token-are-belong-to-us-d6bb00871e86

>
>>They can only be created when someone purchases them
>'no'
>medium.com/unchained-reports/bancor-unchained-all-your-token-are-belong-to-us-d6bb00871e86

Just saying random stuff, hey? No way I'm buying that coin, I hear it's haunted!

How about your mom holds my bag with her tongue, bitch boy.

notice how nobancs never actually make any arguments and instead start spouting buzzwords and making bullshit assumptions like "they used the word "hello", I don't like people who say "hello", therefore these people are scammers

He literally dismissed a "FUD" with another FUD.

medium.com/unchained-reports/bancor-unchained-all-your-token-are-belong-to-us-d6bb00871e86

>no arguments
1) There's no "long tail" in crypto, the top-2 are ~70% of the market, the top-10 are >86%

2) BNT provides no liquidity

3) It requires arbitrators to determine the price, no real price discovery

4) buzzword laden shitcoin, there is only a "double coincidence of wants" problem in barter systems, money (BTC) solves this

5) exponential increases/decreases in price from liner changes in demand, 5% sale of BNT H A L V E S it's price

interesting read, is it not possible that they have given themselves these privileges for the reasons they state, and that they will indeed be disabled? I mean, at this moment the coin is still being worked on, still not trade-able. You would be jumping to conclusions to assume malicious intent based off elements of a project, which they themselves have said will only be active for a phase which we are still currently in

Always assume the worst. This is how most businesses operate. I cannot guarantee they will be good little boys and girls. But they have too much power. So, think about it.

If trading begins and these features are still active, I will be with you guys on this, but at the current state of the coin, it doesn't seem ridiculous to me for the developers of it to have these powers.

>entire point of crypto is immutability and trustlessness
>"jus trust us goy!"

If it doesn't beat DAO hack, then it is a big success in itself.

They are developing a system that has not yet existed in crypto. Do you expect them not to test it in an environment that they have full control over?

I would be more worried if they did not have these powers, and were not putting the system through simulations.

The entire point of the crypto ecosystem is to be open.

Now, you are in the hands of people who are literally no different than banks.

The entire philosophy is lost at the pretext of making money.

Enjoy your interest rates. Good bye.

It's like you guys are asking someone to develop an operating system without privileges to access the system files. It is natural for them to have these powers at this stage, wait until it is released to judge it as a final product.

>1) There's no "long tail" in crypto, the top-2 are ~70% of the market, the top-10 are >86%
that means there is a long tail. Coinmarketcap is shit at determining this stuff so you are wrong in using that to come up with this stat anyway

>2) BNT provides no liquidity
wrong, the reserve system does exactly that

>3) It requires arbitrators to determine the price, no real price discovery
wrong, it's the opposite. Arbitrageurs (which you can't even spell) don't set the price, that's one of the innovations of Bancor

>4) buzzword laden shitcoin, there is only a "double coincidence of wants" problem in barter systems, money (BTC) solves this
wrong again. You would know if you weren't a newfag that only trades on poloniex

>5) exponential increases/decreases in price from liner changes in demand, 5% sale of BNT H A L V E S it's price
wrong again

Isn't the beta already out?

Why should I wait and see if it turns out to be another DAO?

they are retarded nobancs, what do you expect? They'll say anything to justify to themselves why they didn't buy the next big thing when they had a chance

One of the reasons they still have these powers is so they can be sure this DOESN'T turn into another DAO. The release was postponed from monday because they are still ensuring the coin's stability, this means they are running tests, this means they need privileges over the coin that they won't need once it's fully ready.

even the author of the article admits the Bancor team is right in doing what they did

you're right, I am responding so that people reading this who are unsure don't get stuck with one side of an argument.

You sound like a noob. There are better projects than your silly bancor, I have made money in other great projects. Bancor looked promising in the beginning, until you start discussing and realize how much of problems it has.

You trust your investment will be safe in 40 lines of code? I think you deserve to lose money.

You don't address a single problem in this post

>You sound like a noob
t.noob

>hurr durr Bancor is shit because I say so
not an argument.

>You trust your investment will be safe in 40 lines of code? I think you deserve to lose money.
*60k lines of code
ftfy buddy

>w-wrong!
Literally all of those are 100% factual

The Top-2 being a super-majority means no long-tail

that's not liquidity and liquidity does really matter anyway because no long tail

arbs set the price read the whitepaper

again, read the whitepaper, they even include a spreadsheet that proves me right

nigger, that's what testing is for

>Literally all of those are 100% factual
they are not

>The Top-2 being a super-majority means no long-tail
that's not what long-tail means. Either way bitcoin dominance, if you weren't a newfag, you would know has gone down a lot and keeps going down, therefore the long-tail even by your retarded definition becomes always more real

>arbs set the price read the whitepaper
I have read it, but you have not understood it. Arbitrageurs are merely incentiviced to help keep the price at the same level as outer exchanges, but they don't set the price itself

>again, read the whitepaper, they even include a spreadsheet that proves me right
I have read it, your problem is you haven't understood it

Bancor existing provides the tools and liquidity for the long tail to grow. Even without Bancor, can you honestly say Crypto is approaching fewer coins and not more? Remember not so long ago when there was *only* one coin?

When dealing with a coin that creates and destroys itself, you need power to create and destroy it in order to work on it.

holy christ you fucking retard that's literally what a fucking long tail is you fucking cock gobbling faggot shit cunt

Crypto has an incredibly narrow distribution, it's the farthest thing from having a long tail, neck yourself

Arbs set the price. This can't be argued. The pricing algor is dumb, it can't set a true price anymore than you can form an argument

Nigger, the algor isn't complicated, and they include a FUCKING SPREADSHEET THAT FUCKING PROVES ME FUCKING RIGHT. Again, this can't be argued, I am right, you are wrong, kill yourself.

>holy christ you fucking retard that's literally what a fucking long tail is you fucking cock gobbling faggot shit cunt
wrong

>Crypto has an incredibly narrow distribution, it's the farthest thing from having a long tail, neck yourself
narrow distribution? kek you must be b8ing

>Arbs set the price. This can't be argued. The pricing algor is dumb, it can't set a true price anymore than you can form an argument
even in your retarded rambling you unawaringly admit that the price is set by the algorithms. Just because you are too intellectually limited to see how that will work and refuse to believe it, doesn't mean that it's arbitrageurs (which you still can't spell) who set it. You just proved you are full of shit and spreading misinformation, good job

>Nigger, the algor isn't complicated, and they include a FUCKING SPREADSHEET THAT FUCKING PROVES ME FUCKING RIGHT
It doesn't, your argument is that arbitrageurs set the price, and that is wrong
>. Again, this can't be argued, I am right, you are wrong, kill yourself.
kek look at this nigger nobanc on suicide watch because he got BTFO

>da joos
your prejudices have nothing to do with the merits of the coin

The "long tail", so much as it exists, has no value, it's 100% shitcoins, if you think those shitcoins have value, why not invest directly?

Second, you have no need to be able to create and destroy it arbitrarily, which is what the contract allows them to do

Bancor is the force that will enable the longtail and not just capture it... retard

Exactly

>Be bad white goym with tokens
>Get them destroyed

>bankcucks getting btfo

Thank g*d I passed this scam up

They have even already created successful communities using user-generated currencies (ie hearts), exactly like what bancor protocol will facilitate.

people are going to dump money into clonecoin street-shitter scams because BNT makes it marginally cheaper to trade them? This is your reasoning for why BNT is worth hundreds of millions of dollars?

"pricing" algorithm. Happy? The algor doesn't set the market price, the market sets it and arbs trade with the BNT contract to keep it in sync

The algor is dumb, and responses exponentially to liner changes in demand, it REQUIRES arbs to not do retarded shit, because it does not and can not set a true price, pic related, their own spreadsheet

Your lack of finance and network effects is absurd. I am no hardcore shill so I dont bother enough to write a wall of text reply to your bullshit.

Breitman and Emin are running a scam ring with Tezos. Breitman skimming millions off the ICO.

>nobancs are legit this retarded
can't make this shit up

HOLY FUCK BTFO NOBANCS ON SUICIDE WATCH

>The algor is dumb, and responses exponentially to liner changes in demand
spoken exaclty like a nigger that doesn't know what he's talking about
>it REQUIRES arbs to not do retarded shit,
they can't do retarded shit even if they wanted, because it would go against their interest. Learn2 game theory nigger

FYI. Webbot Crypto compendium marks this as the one that will be called the scam of the century.

>Shiling and coping: the thread

i agree, nobancs are getting desperate

>used the word 'fake news'
whole article is now dismissible

hahahaha you guys aren't even trying anymore

Nobody thinks its funny that the logo could be a guy rubbing his hands?

NoBanc COPING ON OVERDRIVE

BANCOR $2500 BY 2018 CONFIRMED

We're arguing FOR closed source now?

Satoshi, please, come back. We need you

All of these-- literally each and every point-- are extensively addressed in the article linked above. Ad nauseum, so everyone can be perfectly clear. But by all means, if you want to stay poor, stay fucking poor.

Bancor is an attempt to turn crypto into fiat. You give them valuable coins and they give you worthless tokens.

It wasn't enough for them, having a centuries-long run controlling the world. They need to ensure their control over the future too.

Well, congratulations. You're falling for it.

Do no-bancers have any arguments left besides "the jews"?

can't unsee it now

It's calm, precise, and thorough. Makes the original critique look like a fucking myspace rant.

reddit.com/r/Bancor/comments/6ili07/bancor_will_start_trading_tomorrow/

1. Has the fact that miners can see transactions and undercut them before adding them to a block been addressed?
2. They can add and destroy tokens, bit promise to use this power for good only. 0 human organisations in the history of forever have been shown to be able to restrain themselves when given such power. What makes these guys different?

When has /pol/ ever been wrong

dumbass nobanc sound like you didnt even read the rebuttal

Ok, now that ive read this,
This is not crypto at all. It's a fiat system. The unique seliing point for cryptos is: no one can fuck with your coin balance and no one can be "blacklisted". Also no printing out of thin air shenanigans. (Corollary: ethereum hasn't been real crypto since the hard fork) Bancor is opening the way for fucking fractional reserve lending and money printing bs.
It's an enemy of crypto.
Not hating on anyone looking to make gains in the ico craze, by all means make that money, but i hope the project fails.

/pol/ is a delusional echochamber

glad that somebody sees this...its literally looking to act as a crypto bank

Yeah, that's why I bought some... sorry.

>They unironically use the term "fake news".

Welp, time to sell, dev team is retarded.

>he paid $300 million dollars for (((200))) lines of uncompilable code

The only losers are Ethereum users at the end of the day.

Containing 3 backdoors:
-create tokens at will
-destroy tokens at will
-change smart contract terms at will
Baffling, maybe most investors are newcoiners?

You like wasting your time posting rebuttals that we just deconstructed?

it what got a moron to be president goy

>Spells g*d with no capital G
Fucking nobancs.

If you cared to read them, you'd know. But you want this to work, that's why you believe it will.

Your greed will be your undoing.

You should read more into Bancor. Those 'concerns' were already addressed. Jesus fack, dont bash a coin if you dont know anything about it..

Creating tokens cost some small amount of eth so they have value.
Tokens are destroyed when they are spent, the small amount of eth/value goes to the seller. Smart contract is being tested now, that's why it was delayed
Nigger' you are retarded

>
>You should read more into Bancor. Those 'concerns' were already addressed. Jesus fack, dont bash a coin if you dont know anything about it..
Faggot. Satoshi would be proud. NOT. Bitcoin founder was a true anarchist who wanted to create an alternative system to the one we have now: Decentralized.

If I look at Bancor it has Goldman Sachs all over written it. Let's just replace banks by crypto banks. Great idea.

Where have you been the past few years? Ethereum and many other new coins aren't exactly aligned with the true cypherpunk spirit either.

Etherium based connector for ERC20 coins.
>That's really similar to a centralized bank

Fuck off retard.

Didn't really look at btc in the last 12 months. Holding 100 btc and got drawn back in when I read that btc hit 2000+ ath. Don't like where we are going. Have to do some research. Only looked at bnc bc of all the fuzz.

You're in for a lot of more shit than just this, user.

>12442 world long response

Aint nobody got time to read all that shit.

You probably have the opportunity to multiply your value into the millions if you can manage to get Bancor tomorrow. Just attach yourself to the rocket, the coins is valuable for connecting all Etherium based assets together.

>etherium
STOP IT WHY CAN?T THIS MEME DIE