[ANN] Bantam [BNT] The world's first Crypto Collateral System | BTC Loans

[flagpara]

I was taken aback by "Simply post your request in this thread...". I guess that means you simply couldn't implement a request and collateral mechanism inside the client itself instead of hosting it on a potentially moderated centralized thread which really sound silly.

i guess it's all about better exposure and minimizing the risk of misuse of the service by recording requests publicly. i agree, as bantam appreciates in value there should be in wallet mechanism to automate the process. it could work.

Or the fact that if nothing get automatized op can simply stop answering while dumping everything 

How could people invest in something with so little value and absolutely 0 guarantee...

[BantamSystems]

Or the fact that if nothing get automatized op can simply stop answering while dumping everything  

How could people invest in something with so little value and absolutely 0 guarantee...

Thank you for providing your perspective on The Bantam Project.

I guess that old saying applies here, Bantam is a coin that you either love or hate - and everyone can't be a supporter. So it's refreshing to read up on the alternate views people have on The Bantam Initiative

Thank you

Looks like it actually rebounded a bit, whats going on dev is this project still going on ?

Hey there

Yes indeed, Bantam (BNT) is a long term project that will be active for at least the next five years, and our overall strategy is to concentrate our activity within 24 month cycles. i.e during the next 24 months, we seek to have furnished over 50 BTC in loans to project participants.

You can think of it like this; at any given time there are more than 1000 people that could benefit from a loan - and that's what we're here to do: to furnish loans to individuals that have a suitable amount of BNT to pledge as collateral. It's that simple.

Our next round of loan dispersal begins on January 16th. So mark your calenders

Also, we will be posting a very detailed map of what we have in store for 2016, so keep checking the thread as announcements will be made shortly.

The Bantam Team

[altcointrader25]

The math that is supposed to be supporting this coin is complete shit.  Please explain your thoughts on the following.

a.) If 50 btc worth of loans are given out...  that's 50,000 BNT as collateral or only 0.06% of supply.  If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange.  The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.

b.) There are 40 BNT mined per block, so miners can continue dumping for a long time.  Selling pressure will remain high if whales do not come in and pump-N-dump it.

c.) Five percent interest is not a lot of revenue.  If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
  --  You loan 50 BTC out at 0.2 BTC per person.   250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit.  For this system to work, you would need more than 95% of loans to repay in full, plus interest.  If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for.  The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.

If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted.  On a long term, either something is missing in this equation or the coin is doomed to fail.  Please enlighten us devs?

[trader19]

The math that is supposed to be supporting this coin is complete shit.  Please explain your thoughts on the following.

a.) If 50 btc worth of loans are given out...  that's 50,000 BNT as collateral or only 0.06% of supply.  If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange.  The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.

b.) There are 40 BNT mined per block, so miners can continue dumping for a long time.  Selling pressure will remain high if whales do not come in and pump-N-dump it.

c.) Five percent interest is not a lot of revenue.  If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
  --  You loan 50 BTC out at 0.2 BTC per person.   250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit.  For this system to work, you would need more than 95% of loans to repay in full, plus interest.  If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for.  The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.

If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted.  On a long term, either something is missing in this equation or the coin is doomed to fail.  Please enlighten us devs?

@BantamSystems correct me if i am wrong but i will try to answer some of this question from what i saw:

a.) your math is wrong, here's why: in first round i did put 2000BNT collateral and need to keep min 1000BNT locked in wallet for 0.2BTC loan. let say you get for 10000BNT (probably 20000BNT+) and need to keep 1000BNT locked for 1BTC that makes 50BTC loan worth 550000BNT / 500000 collateral and 50000 locked / that's 70-80% of currently available supply if you don't count Bantam reserve..

b.) also wrong: there are atm 24033 mined POW/POS Blocks * 45BNT/block makes  total 1081485BNTposible but because of the POS eating POW blocks there are -30%+ less Coins mined.. currently at 726106BNT total meaning 355000BNT less than possible. as POS continues there will be even less coins mined. again if you don't count Bantam reserve.

c.) all depends how valuable BNT will become, it could be a good business for BantamSystem

-t

[Luqman]

Happy new year peoples. All this accumulation i see, i think there is going to be a big bnt pump before jan 16

Really? hope that could be happen

[irwanjabryg]

yes,...  All dev definitely say long-term project but in fact he would break a promise
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..

Thats where you're wrong, the dev is accepting 1000 bnt in return for a 0.2 btc loan so bnt has value outside of the exchange which is something no other coin has

if bantams price is 100 sat, and you can use 1000 bnt to get a 0.2 btc loan, then you use that 0.2 btc to buy 200,000 bnt. Then when bnt goes back up to 1000 sats, you sell and make 2 BTC, a 1,000% profit. You pay back the 0.2 btc with interest to the dev, meaning you have made 1.8 BTC

nifty little idea here

If the price does not go back to 1000 sat
 how

[flagpara]

yes,...  All dev definitely say long-term project but in fact he would break a promise
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..

Thats where you're wrong, the dev is accepting 1000 bnt in return for a 0.2 btc loan so bnt has value outside of the exchange which is something no other coin has

if bantams price is 100 sat, and you can use 1000 bnt to get a 0.2 btc loan, then you use that 0.2 btc to buy 200,000 bnt. Then when bnt goes back up to 1000 sats, you sell and make 2 BTC, a 1,000% profit. You pay back the 0.2 btc with interest to the dev, meaning you have made 1.8 BTC

nifty little idea here

That's where you're being incredibly naïve. All that is not an outside value, it's totally dependant upon the fact that the dev accepts to give the loan. And if he doesn't?

Well the moment dev stops giving loan, the coin is worth shit. Literally.

I can't really call that nifty... Maybe stupidly complicated but not much more...

[irwanjabryg]

yes,...  All dev definitely say long-term project but in fact he would break a promise
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..

Thats where you're wrong, the dev is accepting 1000 bnt in return for a 0.2 btc loan so bnt has value outside of the exchange which is something no other coin has

if bantams price is 100 sat, and you can use 1000 bnt to get a 0.2 btc loan, then you use that 0.2 btc to buy 200,000 bnt. Then when bnt goes back up to 1000 sats, you sell and make 2 BTC, a 1,000% profit. You pay back the 0.2 btc with interest to the dev, meaning you have made 1.8 BTC

nifty little idea here

Ok I 'll try , .. Hopefully dev does not break a promise , ..

[Maicol792]

BNT POSSIBLY MERGED WHIT DECRED.... DEV YOU CAN OFFICIALLY ASK DECRED TEAM.?

[Maicol792]

fork in blake256 algo ... But 8 or 14 round?

[chrysophylax]

fork in blake256 algo ... But 8 or 14 round?

merge mining x11 with blake256 14round coin as well? ...

how does that work? ...

#crysx

[flagpara]

OMG how is it possible? Oo

I don't understand, are you all alts of the op or just plain stupid?
How can this coin not be already destroyed?

[yorll]

OMG how is it possible? Oo

I don't understand, are you all alts of the op or just plain stupid?
How can this coin not be already destroyed?

And you can do here that you are so worried? are you typical vagrant of all threads beeping "scam"?

[flagpara]

And you can do here that you are so worried? are you typical vagrant of all threads beeping "scam"?

Meh, sorry I didn't understand you, maybe because of my English, maybe because of yours :3

And to answer it's just that I hate seeing such obvious shitty coin going up while legitimate projects have problems to launch...

[BuWICK]

I would like to pre register for this if possible, im holding a decent amount of coin here so I dont think I hsould have any problem qualifying

i have sent you a pm

i think that maybe you should wait for dev to reveal terms for the next loan before register how many bnt you have? i will buy for right price

[trader19]

Second loan repayment sent:
https://blockchain.info/de/tx/18f9710298d6d6bb71424ed09c8b0dca17788db5b2c125c74ce81012fd7fe4da

thank you for the service!
-t

[Maicol792]

Second loan repayment sent:
https://blockchain.info/de/tx/18f9710298d6d6bb71424ed09c8b0dca17788db5b2c125c74ce81012fd7fe4da

thank you for the service!
-t

Be happy!!! This is a good service... And i think BNT is The future of LOAN service :-) go up and good Life to all ... I'm in and buying more coin for LOAN support :-) i think in no more time BNT go to The Moon ;-)

[vademecum1974]

Hi folks!


Cannot get my Bantam wallet to sync to the only node listed !

Some help from the dev would be in order.
I can ping the node but the wallet wont connect to it;

trying connection 45.63.19.129:21772 lastseen=83.9hrs
connection timeout
trying connection 45.63.19.129:21772 lastseen=83.9hrs
connection timeout
trying connection 45.63.19.129:21772 lastseen=83.9hrs
connection timeout
trying connection 45.63.19.129:21772 lastseen=83.9hrs


Hope dev can get some more nodes out there!


Thanks
vademecum1974

[vademecum1974]

Hi folks!


I added this line to my Bantam.conf file

addnode=bnt.suprnova.cc

Only this helped me get my wallet to start to sync with the network.




Vademecum1974

[Maicol792]

Good vademecum1974 ...  Tnx for help this community... Next week BNT to The MOON!!!