Ещё через лет 5 каклы поймут, что шаровары воняют, потому что обосраны. А может быть и не поймут. |
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Now I ask you, what's your intention questioning my intention? My intention is to understand the rationale behind the project. Bitshares is an outstanding project which has a number of annoying flaws. I thought you may be trying to fix some of them. Why should I not do it? I'm happy doing it. That's fine, good luck. Maybe I will. Right now there's no need to publish price feeds because it's taken from the order book. That's a start. And nodes run in windows. That's another one. I'm thinking porting to EOS too to combine the best of Ethereum and Bitshares. But that will take some time due to EOS licensing. Sounds cool, this basically answers my question. Thanks. One thing, however, you may have to consider: by forking exchange, you hurt liquidity of your tokens. You need to come up with some way to spin up your DEX. |
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Now I ask you, what's your intention questioning my intention? My intention is to understand the rationale behind the project. Bitshares is an outstanding project which has a number of annoying flaws. I thought you may be trying to fix some of them. Why should I not do it? I'm happy doing it. That's fine, good luck. |
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And how is this better than bitshares? What's a point?
i'm not claiming it to be better than bitshares. this was created to have a p2p decentralized exchange especially for TILT holders. Why not use bitshares itself? Why do you need a fork? Why use bitshares when I can fork it and distribute > 90% of the tokens for free? You don't need whole new blockchain to create a new token you know. This is kind of weak justification of such an effort. |
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And how is this better than bitshares? What's a point?
i'm not claiming it to be better than bitshares. this was created to have a p2p decentralized exchange especially for TILT holders. Why not use bitshares itself? Why do you need a fork? |
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And how is this better than bitshares? What's a point?
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Funny thing nowadays people don't even bother to read the white paper. They just put the money on ICOS like gambling.
Even more funny is that the majority of them always lose in the end, only very minority actually returns investment, but these success stories keep attracting new suckers like smell of shit attracts flies, again and again. Stupid people don't realize that a legit ICO is like a pizza, it can feed only limited number of people. If you split pizza into 12 slices, you can feed 12 persons, but if you split it in 1000 slices, you can feed nobody, because each slice is too small. What ICOs use to do is they split their pizza into million of slices and then sell each slice at a prise of whole pizza. You don't have a pizza, you dumb retards, each of you has a microscopic pizza crumb WHAHAHAHA |
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Yes, those need verification and that's what I'm trying to say. If there's a strong incentive for full verification users might start showing preference for actual debit cards (which are cheaper) other than bitcoin loaded ones.
I have an actual prepaid debit card. The problem with it is that there is no way to load it with BTC without going through bank account. And I don't want to connect my bank account with BTC exchanges. So, I ordered bitpay card which I can load directly with BTC. Verification is not a problem for me. they ask name for business, so i should have a company? Whо? Bitpay? No, you don't need to have a company to get their card. |
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Many governments don't give a shit about protecting their citizens from scam. All ICOs will move to these jurisdictions.
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Yes, those need verification and that's what I'm trying to say. If there's a strong incentive for full verification users might start showing preference for actual debit cards (which are cheaper) other than bitcoin loaded ones.
I have an actual prepaid debit card. The problem with it is that there is no way to load it with BTC without going through bank account. And I don't want to connect my bank account with BTC exchanges. So, I ordered bitpay card which I can load directly with BTC. Verification is not a problem for me. |
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Buying BNT/ETH contract through MEW, from whom I buy them and where do they come from for sale to me? From the air?
Believe it or not, yes, they are created when you buy them from the contract. Read the white paper. |
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Very good analysis, thanks for posting the link. I completely agree with the main point of the article, that bancor is just one way of achieving a goal which is easily achieved without bancor. This is fine, different people solve the same problem different ways, but others manage to solve it without 140M dollars. |
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А пугает, это свиздабол-дев IOTA - единственный конкурент Байтбола. Он явно неровно дышет, при виде такого успеха Тонича.
Не ровно дышит? При виде успеха?  ... У него то проект с начала торгов сразу на 8 место в Мире по капитализации прыгнул.... Кто еще как дышать должен?? )) Кстати, тут не раз говорили, что IOTA проект провалился и всё там плохо.... ну и что теперь скажете?? Как он на 8 место то прыгнул с таким "плохим" проектом(реализацией)?? Эта так называемая капитализация - не более чем филькина грамота. Если несколько дурачков купили тугрик по пол-бакса за штуку, это не значит, что все они вместе вруг стали стоить миллиард баксов. Никто в эту йоту никаких миллиардов не вкладывал, и не собирается вкладывать. То же самое относится ко всем остальным говнотугрикам. |
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Lol everyone eager to dump their BNT for profits. I see no exchange will add BNT. You guys will need to use the smart contract to liquidate your coins at 0.01 ETH
Actually, a fair price of 1 BNT is 0.001 ETH, and once it hits exchanges, the market will bring it down there. can you give us more ideea why we should wait and buy cheaper? i missed the ico ... and i need to buy bancor cheap .cheers It is very simple: each BNT is backed by nothing but 0.001 ETH. This is how much it costs. The market will converge to this price. How did you arrive at that number? 100 BNT were issued for every 1 ETH, with a reserve of 20% Check fundraiser page https://bancor.network/fundraiserThey sold ~40M BNT for 0.01 ETH each and also gave themselves about the same amount. 20% of raised ETH are held in reserve, which means that ~80M BNT is backer by ~80K ETH reserve, which makes a fair prise of 1 BNT to be around 0.001 ETH. A fair market will eventually reveal a fair price. |
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Lol everyone eager to dump their BNT for profits. I see no exchange will add BNT. You guys will need to use the smart contract to liquidate your coins at 0.01 ETH
Actually, a fair price of 1 BNT is 0.001 ETH, and once it hits exchanges, the market will bring it down there. can you give us more ideea why we should wait and buy cheaper? i missed the ico ... and i need to buy bancor cheap .cheers It is very simple: each BNT is backed by nothing but 0.001 ETH. This is how much it costs. The market will converge to this price. |
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Lol everyone eager to dump their BNT for profits. I see no exchange will add BNT. You guys will need to use the smart contract to liquidate your coins at 0.01 ETH
Actually, a fair price of 1 BNT is 0.001 ETH, and once it hits exchanges, the market will bring it down there. |
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Yeah, buying cookies by piece instead of by bag is so much cheaper, they should change prices in the mall. Damn it, I overpay a hell all the time!!!
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So in summary:
• 20% of your investment went into capitalising the asset you now hold
• 80% of your investment went into capitalising a private company in which you didn't get any shares
Like I say, that's just my understanding of the current equity balance of the ICO. I'm happy to be corrected if wrong.
I think the 20/80 rules only apply to the last 147K ETH that poured into the ICO that was above their intended 250K ETH cap. So I think the correct way to look at it is that (250+0.2*147)/397 = 70% of your donation went into capitalizing an asset you now hold. The remaining 30% went to an unplanned, "ex post facto" fund whose assets you now have no claim over. For the next 2 years this new fund will purchase tokens (at a price that gives zero profit to the public sellers) and give those tokens back to the Bancor Network that issued them. Bancor blog clearly states that 20% of raised ETH goes into reserve, which is ~80K. They crowd sold only 50% of BNT (~40M), the other 40M they gave to themselves. In the end, 80M of BNT is backed by 80K of ETH. At a price of 100 BNT per 1 ETH this means 10% reserve ratio. People, at lest learn times table before you invest into something. |
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I heard about this project today, I signed up for the telegram, but it's giving a mistake! And why is there rumors that Bancor is SCAM? Did the delays of the ETH network provide such subjects?
It is not a scam, but this project has its caveats which many of those who call themselves "investors" don't understand. Shortly speaking, this is a very badly overvalued project. |
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I will just start boldly. The Bancor business model is pretty close to a scam. I am sure you will not take my word for it, because this is my first post. In fact, I made this account because I find it bizarre that no one is talking about this. Let's be honest, which one of you truly tried to comprehend their mathematical proof? Not a single person who invested at least, because otherwise they would not have wasted their money. I will try to explain a little. They collected pretty close to 400k ether. Essentially what they do, is keep .8*400k ETH = 320k ETH to themselves, and call the remaining 80k reserves. They will express this 80k in a different coin, called BNT. They assign 100 BNT to 1ETH that they received. That means there is 500BNT for every 1ETH in the reserves. Essentially, if everyone would want to convert their BNT back to ETH, they would get 1/500 ETH per BNT. Wait you say, in the white paper it says that the starting price of 100BNT will equal 1 ETH! This is true, this is where the mathematics uses a trick to hide what is going on. Their pricing formula, P=R/(S*F) ensures that the first BNT sold will be sold at a 'fair' value, namely equal to the amount of ETH you spent to buy it in the first place. After the first sell, things get worse rather quickly. Let's illustrate this by a little example: Lets say that 10% of people who own BNT sell it back to ETH via the smart contract. For the initial price we get: P = 80k/(40m*.2) = 0.01. All looks fair. Then after the sell we get 40m*10%*0.01 = 40k, P = 80k-40k/((40m-4m)*0.20) = 0,00556. Ouch, the price almost dropped to half value from the 10% sell-off (this is different if there are many small transactions but I will get to that later). If people buy the same amount of BNT, this is what happens: P = 120k/(44m*0.20) = 0.01364. The increase in price is not nearly as interesting for the next person. But again, this will be lower for many small transactions. I created a plot assuming transactions are made in small batches of BNT coins. We find that the BNT value drop VERY quickly when people start selling, and does not rise nearly as fast. Essentially this just makes BNT an undesirable coin. Another weird thing about their system is that it does not consider convexity. This means that big transactions will get very different prices than many small ones. This just does not make sense, but they don't care as they simply took your money. http://imgur.com/a/f9yLyIf you are still not convinced, consider this. They literally admit to taking 80% of your money. All they give back is some mathematical trick based on 20% of the ether that you gave them. Do you really believe they just generated x5 value out of thin air? Sorry, but math does not work that way. I would recommend getting rid of your BNT asap, or you end up all the way on the left side of the graph. I am sorry that this news comes a bit late for some of you... I didn't read their methodology until last night Sad Maybe now you can start to add up why the ICO was strange in various ways. As final words, don't just believe whatever I say. Think about it for yourself. I gain nothing by convincing you of whatever I write here, I am simply sharing thoughts. BNT is reserved by ETH at only 10% reserve ratio, not 20%. And a big transaction get the same price as many small ones, this is how their price discovery formula works. But you are right that BNT price is going drop very quickly when people start selling. |
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