what is this? is this legit? sounds scammy scam do not use any site without the decent.ch domain ! No scam i also reclaimed on this page I have not received the official email yet from them linking me to the portal, so afaik and from looking at that site, it doesn't seem official to me, compared to the layout of the original decent.ch website |
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what is this? is this legit? sounds scammy scam do not use any site without the decent.ch domain ! |
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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
Why wouldn't exchanges add BNT? I believe lots of exchanges are eager to add BNT. What is the main goal of the BNT tokens ? To eliminate exchangers right ? So i think exchangers will be reluctant to add the coin For sure.BNT will be worthless token... Bancor will not. But sonm will be doing it to be a worthless token, just a terrible project. Ha,SONM is +106%,and BNT -32,96% Bye bye BNT lol no demo, no product, no escrow, unverified token, worst distribution, a lot of scandals, crap project.  Trolls  can't wait to see them cry from their absolute ignorance and lack of research into this incredibly innovative smart token system just as an example, explain how 10,000+ ppl that invested and received tokens, is a bad distribution No escrow is needed, because tokens were received instantly upon deposit to the smart contract. I'll let you discover the rest on your own  i refer to the sonm project and not bancor. ty for clarifying, and to natalya's statement on price is based on an IOU token this is inaccurate as it's not trading of a live token yet until the smart contract activates tomorrow so BNT can actually begin to be transferred amongst users/wallets. Furthermore, BNT will begin at 100 BNT / 1 ETH when buying it from the contract, just as it was at ICO, this will be a steal and great flip for when exchange listing comes, even so it's not necessary to have an exchanger. |
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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
Why wouldn't exchanges add BNT? I believe lots of exchanges are eager to add BNT. What is the main goal of the BNT tokens ? To eliminate exchangers right ? So i think exchangers will be reluctant to add the coin For sure.BNT will be worthless token... Bancor will not. But sonm will be doing it to be a worthless token, just a terrible project. Ha,SONM is +106%,and BNT -32,96% Bye bye BNT lol no demo, no product, no escrow, unverified token, worst distribution, a lot of scandals, crap project. Trolls can't wait to see them cry from their absolute ignorance and lack of research into this incredibly innovative smart token system just as an example, explain how 10,000+ ppl that invested and received tokens, is a bad distribution No escrow is needed, because tokens were received instantly upon deposit to the smart contract. I'll let you discover the rest on your own |
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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. First of all it was 39M BNT at 0.01 ETH for every 100 BNT not 1, don't know how you got your numbers there. Secondly, you don't understand how the contract works: https://medium.com/@stefan.pernar/hacking-the-bancor-protocol-for-fun-and-profit-6ddfb7f1cf56read |
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Can someone explain whether this goes beyond multi-way exchanges?
Eg, let's say that I want to trade ether for nubits, and there is no one on the other side of the exchange. But there is someone who wants ether and will give up siacoin for it, and there is a third person who wants siacoin and will give up nubits. A 3-way exchange could be made. Additional multi-way exchanges (4-way, etc) could also be done, and all of these would effectively increase liquidity.
But I am getting the idea that the Bancor protocol goes beyond this, and will create reserve tokens even in the absence of any multi-way exchange? Is this right, or is Bancor simply facilitating multi-way exchanges?
So no one seems to understand how it works, but many people are eager to invest in it... Bancor is basically just a simplified exchange (with a bit of a social network built in). There's no bidding system, just a token with a price. It's meant to simplify token exchanges while increasing liquidity of less traded tokens (since there's no bidding system to wait on). It's the perfect system for someone who isn't a day-trader (someone who doesn't need all the charts/graphs for trend analysis). The only negative I can think of with Bancor is that it isn't decentralized (at least I don't think so?). So it's still possible for their entire system to crash/have downtime, and you can bet your ass they'll have arbitrage bots working full time in the background picking up any profits possible (between them and the main exchanges). Actually the system is fully decentralized Ahh that's good to know, there's not really any downsides to the system then. If it's decentralized though, then where is the UI for the Token Changers/Baskets/ETFs hosted? Would it be possible for the Bancor network to be taken down, and no one have access to the UI to make trades? That's the only part I haven't figured out yet. Thanks for the response. Your wallet also it'll be with the tokencard.io app |
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80% will be locked for two years in a smart contract that will buy back BNT for 0.01 ETH (the initial price) whenever it is available, according to its calculated price. The purchased BNT will be added to the Foundation’s long-term budget, and after a 2-year period, any remaining ETH will be allocated pro-rata according to the “Use of Proceeds” chart in our Token Creation Terms.
How this contract will work? How it can purchase BTN when price will be on 0.01ETH? i've came across 3 ideas but i'm not really sure witch one is correct.
1)I mean how is possible for the smartcontract buy back BNT at market price of 0.01ETH without passing through exchanges, buying through exchanges means this will be a smartcontract that can interact with Exchanges' API to work and make an automatic buy when that price is reached.
2)It will be a simply contract that interacts with the seller through wallets, meaning when BTN price on exchanges will hit 0.01ETH you just send your BTN from your wallet to the contract to recive back ETH.
3)The smartcontract will be in Bankor platform itself named like BTNETH contract, but that would mean each token sent back to the platform will be burned as ETH is sent back to the seller meaning less BTN in circulation could drive the BTN price up, cause offer and demand.
Can someone explain this part, because i can't really understand how it works.
This may help clarify some things about the dynamics of BNT's Protocol and DEX: https://medium.com/@stefan.pernar/hacking-the-bancor-protocol-for-fun-and-profit-6ddfb7f1cf56 |
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I'm very disappointed that I got scammed on the signature bounty, if they weren't going to pay for my participation they should have never accepted me into the program. I made the number of posts they required and they are refusing to honor the bounty on a technicality. Say what you want about the terms this is not right.
Well scam by definition does not fit here. You have been told and agree(even if you didnt read) to the terms n co when you participate. Thats not scam. Its just a bad bounty program model. Well you know the terms n co. -they pay weekly, not daily -program end when ico end or 30th june which ever that come first. -manager wont know if the ico gonna end right at 12th june. Thats why he accept people that register before 12th Owh you didnot understand. The others that get paid after ico over.12th june. They completed their 1 week cycle and get paid automatically. You need to completed whole 1 week to get paid. This meant that in order to get paid, because they pay weekly not daily. You need to participate before 5th june. And here i would like to stress again. The manager accept participant after 5th june because he did not know the ico gonna end on 12th, he does not have crystal ball. They pay weekly but nowhere does it say I won't get paid anything after signing up, I signed up on June 7th so they should pay me June 14th I am happy to get paid on this date if you take it by its exact wording then legally they would have to pay me on June 14th. Yes its 100% scamming me in this case because nowhere does it say that I won't get paid after that 1 week. The bounty manager even stopped registrations on June 9th not June 12th and some people got paid on June 12th hours after ICO ended. So its unfair treatment either way and fits the exact definition of scamming me. That is your interpretation of it nothing else, and if they are going to hide behind such unclear wording as if its iron clad (it would never hold up in a court of law if there were such a thing for this campaign) they wouldn't have changed the terms of their own ICO after it started. And if you want to stick to their terms them you yourself should have received 0 stakes since you don't have an avatar (50-50 = 0) Its as simple as that they have scammed me. This crypto you fucks, stop acting like whining bitches, USA is not all governing body of law to the whole world, you play with zionists, then follow the rules mofos, bitch to your mommies, while the rest of us go to the moon, have a nice day ! |
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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. We bought into BNT not ETH. If we wanted to buy into ETH, we would have simply kept our money in ETH. It is no secret that 80% of the ETH will go towards the BNT project’s development and 20% will be kept as a reserve to ensure a minimum value per BNT. This doesn’t automatically make BNT worthless or the business model a scam, because we’re buying into Bancor’s potential (good or bad). "Essentially, if everyone would want to convert their BNT back to ETH" - Why would we all want to convert our BNT back into ETH, especially at this stage? i dont need complicated formulas, i payed 1 eth that is around 350 euro for 100 bnt, so i need 1 bnt to have a worth of 3.50 to breakeven, everything above is my profit, this coin will go to 10$ faster than you can say money so im all good plus its a revulotionary project that i SUPPORT plus i make profit. some people think theyre so smart but they dont see the obvious It's now trading around 0.031 btc or $85 per BNT https://hitbtc.com/exchange/BNT-to-BTCLet's not forget to mention it also hit 0.09 before going back down to around .034 |
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Be very cautious of investing in this coin. The fact that only a few people own most of the coins is very concerning to me. And Im not trying to be a troll on here knocking someone else's coin but rather a voice of reason.
In my honest opinion, I would invest in a more healthy coin in the same class like DGB or NXT or FCT. They have had a very organic price rise which tells me there are a lot of people holding the coin. Basic Attention was bought up by huge whales in the begining and started at 300 million price.
And as we can see the price has been falling big time.
Not sketchy, just the distribution method wasn't a good way to go, giving those with the most buying power the most coins, they should've put a limit per user/depositor. And when only few are controlling the supply they're isn't much to go for them trading wise (try imagining 7 ppl in the same room trying to trade poker chips between each other with them having most of the supply lol trying to make more profit, someone's gonna lose out) Also 33% of the coins are owned by the devs... |
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hi, How I can get the one link for a windowns wallet ? and some nodes tnx so much!!
This coin is alive??  |
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The next round of distribution of detailed date, who can tell me thank you
Look up the next date/time of the Full Moon in July |
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Blackbytes Received much appreciated @tonych thank you again !  |
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Is Byteball the first coin ever to try the "airdrop" method?
Or has it been tried by other coins before?
Distribution method* not airdrop, this is the first of its kind done in this manner, and has been very instrumental in its success |
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Don't know which is your account. You sure it wasn't the bonus for GByte you already had? Also, airdrop was at 13:10 UTC I don't know, I withdrew my balls from trex 3 mins after i bought wayyy before the air drop time |
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Did you get the full 20% on your Bittrex/GBYTEs or did they take 5% as a fee ?? Triff .. Idk because i didn't have any gbyte balance on trex , they were all in my wallet, so beats me lol You don't get any for exchange wallets. My exchange wallet isn't linked or anything, For some reason a deposit showed up in it today and Idk from where or whom, but it was after the 1:10 UTC air drop time This was the TX: https://explorer.byteball.org/#fchUXJLXhFbCpkFcuTQqy9EsW9y+BOOQvPuUnfL3uJA=Additionally, nobody knows my Trex wallet address but me and trex ofc lol |
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Did you get the full 20% on your Bittrex/GBYTEs or did they take 5% as a fee ?? Triff .. Idk because i didn't have any gbyte balance on trex , they were all in my wallet, so beats me lol You don't get any for exchange wallets. My exchange wallet isn't linked or anything, For some reason a deposit showed up in it today and Idk from where or whom, but it was after the 1:10 UTC air drop time This was the TX: https://explorer.byteball.org/#fchUXJLXhFbCpkFcuTQqy9EsW9y+BOOQvPuUnfL3uJA= |
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Did you get the full 20% on your Bittrex/GBYTEs or did they take 5% as a fee ?? Triff .. Idk because i didn't have any gbyte balance on trex , they were all in my wallet, so beats me lol |
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