So I have done a bit of research on this jewcoin, but I'm not too clear on how it works... I know it serves as an exchange coin and is tied to eth at .01. My question is, will it always be "locked" into the .01 ETH rate? Or is it possible to fluctuate? What are the exact mechanics behind it? Someone with some sense, explain it to me.
Confused on bancor
Jaxon King
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Connor Gomez
Ladies and gentlemen, your average noBanc. Can't even figure out how it works on his own.
Henry Lewis
Read the whitepaper bro. There is a .01eth floor, but the price is calculated by P=B/(S*CRR)
When people buy/sell, both the reserve balance and supply increase, but the supply is modified by a decimal 1 or less (constant reserve ratio). With a CRR >1, buying increases the price and vice versa
Elijah Lee
I'm not going to explain it to you other than, no it is not locked at that rate, and is currently trading above that rate.
Cooper Nelson
Because coming here and asking someone who understands it to explain the mechanics behind it isn't an attempt to seek that knowledge out?
Leo Bell
CRR
Joseph Nguyen
>
Thanks
Adam James
it is bulletproof shit
medium.com
Charles Mitchell
Heres a spreadsheet showing potential gains
docs.google.com
Robert Ramirez
these are the people buying it at 200000 sats lmao
Asher Lewis
more than a shitcoin it's actually a scam : medium.com
Tyler Scott
BUT HOW DOES THE FUCKING PRICE AND THE FUCKING SUPPLY GO UP AT THE SAME TIME. IT IS EITHER ONE OR THE OTHER, OTHER WISE IT VIOLATES THE LAWS OF SUPPLY AND DEMAND.
Samuel Brooks
read the fucking paper
Brayden Richardson
Supply can rise as price rises, just not proportionally.
Jacob Thompson
reserve
John Kelly
Wew..
ICO price was 0.01ETH which meant you got 100 BNT for your 1ETH.
The more people exchange their ETH to create BNT's at the Bancor website the rate begins to shift. You'll see soon that the rate will be 50 Bancor's for 1ETH and so on. Probably next year it will be 1ETH for 10BNT's and I'll be in a lambo.
Lucas Thompson
Retard here
Bought 100 bank at 190K sats
Will it ever recover to that level? Feeling a bit mugged off
Cameron Edwards
maybe, maybe not; I'm expecting the former but in what timeframe it happens remains to be seen
Lucas Wilson
It's gained 33% eth value in 16 hours. It can only go up my friend.
Asher Watson
Thats because ETH has fallen though reeee
Jaxson Collins
Except it literally does not. Volume is already decreasing. Nobody gives a shit about it anymore.
Christian Howard
Nobancs are literally using commie tactics now.
Just look through their posts.
William Fisher
Up $200M in 16 hours since ico.
Are you actually stupid or what? Eth value is up 30% already since ICO.