Bancor Protocol Explained

OK, what the fuck is this?

- The Bancor Token (BNT) is like any other coin, it is traded on regular exchanges, and it is subject to the same dynamics that every other crypto is.

- A coin deployed using the Bancor Protocol on the other hand, is a Bancor BASED token that lives WITHIN the Bancor ecosystem, and it is subject to completely different exchange mechanics. The lifecycle of these Bancor BASED Tokens is driven by mathematical formulas, functions and an innovative but also rather complex liquidity solution.

-The use cases vary, but it could be kickstarter for future ICO's that not only need to be deployed fast but also must remain liquid.

- By default, the smart contract works with a certain amount of BNT that will be used as liquidity provider, but ERC20 compliant tokens can be added to the contract too.

- When small communities, fundraisers, ICOs, etc. create a Bancor BASED token for their projects, they buy some BNT to initiate the process, thus raising the value of BNT because of simple demand.

- The only coins that are subject to the contract methods are the Bancor BASED tokens, NOT the Bancor Token itself. BNT only acts as a liquidity provider, and like every other crypto being used for that purpose (ETH for example), it will never be destroyed or altered in any shape or form.

- Those who choose to deploy their projects using the Bancor protocol will instantly benefit from the ability to exchange their tokens instantly for any other token that lives within the Bancor ecosystem already using the contract. It is very unlikely that in the future regular coins and Bancor BASED tokens interact with each other, because the Bancor protocol, as I said before, does not interfere with the current dynamic of the crypto market.

- The Bancor Token itself will perform according to the rules, strategies and dynamics of those who want to speculate with them on one hand, or create value using the protocol on the other.

See? It wasn't that difficult after all.

Just buy TME and forget about this.

>TME
-60.98%

No thanks.

>BNT only acts as a liquidity provider, and like every other crypto being used for that purpose (ETH for example), it will never be destroyed or altered in any shape or form.
This is incorrect. When you sell BNT to the BNT contract, those coins are destroyed and the price to buy/sell coins from the contract goes down.
When you buy from the Bancor contract, new coins are created and the price to buy/sell from the contract goes up.

What this does is cut out the need for a middleman exchange, the bancor contract replaces the exhange. Now instead of having to find someone else in a market who wants to buy your BNT, you just sell it to the contract and the contract manages the price.

>See? It wasn't that difficult after all.
but da joos hav never been in crypto before bancor and they broked eth

Completely false. You can't create/destroy the liquidity providers, you can only manipulate the token you created. You are not trading BNT, you are trading Bancor BASED Tokens. You only claim back BNT when you destroy the Bancor BASED tokens.

Bancor Token != Bancor BASED Token

DELETE THIS user!
we are still not done acummulating

Performing DELET

Ayyy lmao I guess I better shut the fuck up for a while

People are too caught up in other coins for now. The true fomo will arise when Bancor releases its app and the token changer is released. People will see all the Ethereum based crypto and Bitcoin on it, and they will start buying. You are safe for a little while.

I love Bancor. I've lost over $3000 since ico but it's a strange Stockholm syndrome sort of case. I keep buying more and the price goes down but I'm betting it to go up eventually

>Bancor releases its app
>Thousands of individual tokens made
>Half of them are troll tokens
>Scams everywhere
>normies afraid
>"whats the point of this? is this a scam?"
>"just venmo or paypal me, i dont want fake internet money"
>you hold on to your bags for life.

Same, reading the telegram regularly makes me feel comfy.

So I'm still confused. Can BNT value go up. Why can I not get a straight answer on this.

Can BNT moon, or no?

Agree.

>Can BNT moon, or no?
It won't have a big percentage pump unless some whales coordinate on the token changer and exchanges.

It's eth value can increase when the new tokens buy BNT for their reserve.

Buy Bancor from smart token - ETH price goes up
Sell bancor to smart token - ETH price goes down

>jew coin
>raised the most out of any ICO because of Jewish media
>they invest a good portion of the ICO funds on stocks and other shit not related to Bancor

What do you think user?

But what if no one wants to build a token on Bancor's platform?

This assumes people will build off of Bancor which is no guarantee

cant moon.

it can only appreciate or depreciate very slowly

no shit

There are several projects doing so atm.

They're coming for you. Watch out /pol/acks.

>a list of targets

bnt's price is a subject to mathematical formula.. like how did you miss that?

Like all the things you just said are reversed and 100% incorrect.

Gotta give it to the bancor scammers, they extracted a big lump of value out of the crypto ecosystem with this pie in the sky. Too bad they wasted millions trying to keep up a price floor through a contract that was easily gamed to death. Real economic masterminds, and their coding experience really shines through the tens of lines of code they delivered order to raise >100 million $.

>Bancor BASED Tokens is driven by mathematical formulas, functions and an innovative but also rather complex liquidity solution.

So basically this means that no Bancor based token will ever moon? Why bother investing in them then?

>The Bancor Token (BNT) is like any other coin

Why is BNT-BTC going down while BNT-USD is going up? What the fuck?

Is it because BNT-USD is calculated in relation to ETH?

Lots of the tokens will just be regular ERC20 crypto though. You don't have shit. They all aren't "worthless tokens" look at waves. With the retarded way you seem to interpret it, no wonder you are against Bancor.

Lol no retard, it's because BTC/USD is going up more than BNT/USD

It's a shitty kikecoin that has consistently performed horribly, and there are 80 better coins to invest in at the moment. That's all I need to know.

>they invest a good portion of the ICO funds on stocks and other shit not related to Bancor

Source please

how is the value of a BNT based token given if youre on trading within the BNT ecosystem..

You create a reserve of BNT or ETH that can then be traded back for your shit coin.

So, I make a coin with bancor. I send bancor 100 ETH, that ETH is converted to BNT and kept in the reserve. At the same time x amount of your shitcoin is created. And, as mentioned above, you can then trade your shitcoin back for BNT or ETH.

So you could create a shitcoin for some service that is in low enough demand that people might not buy it unless they know they can get a refund no matter what.