jacafbiz
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May 30, 2017, 04:51:54 AM |
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Hello everyone, We were planning to announce the following along with the crowdsale terms, but since its already been posted and we don't want to keep you waiting (or confused), here is a brief sneak peak: We have entered into a partnership with Bitcoin Suisse to provide on-boarding services PRIOR to the token sale for those who want to contribute with fiat, or receive some assistance sending their crypto to a smart contract, before the actual sale begins. There is a small (standard) fee involved, specified on the website. They are also able to hold your tokens for you until you want to receive possession of them. They are very reliable and have a great reputation in the industry and among other token sale teams. We entered into this partnership with Bitcoin Suisse to make the token sale more accessible and allow those who wish to be involved to guarantee their place even before the start date. The remainder of the details coming soon... and in the meantime here is the link for contributions: https://www.bitcoinsuisse.ch/bancor/Please note, regretfully, due to regulatory uncertainties, this service is currently available to NON US citizens only Well done guys, this will give non-crypto investors chance to participate in the ICO. But I want to ask can US citizens invest with BTC
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Dvd1989
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May 30, 2017, 05:35:59 AM |
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But, more importantly, I haven't a clue on how to join in on the crowd sale. Are there any specifics or demands I have to meet in order for me to invest during the crowd sale?
I am currently using Exodus. Can I participate with Exodus?
Would be happy if anyone can give me some pointers.
I'm just a few weeks older to you in the cryptoworld - let me answer this till a more senior member gives a more qualified response. 1. Participating in an ICO merely involves transferring some cryptocurrency (mostly Bitcoin/Ethereum) to a specified address. You should be able to do this in Exodus. The ICO folks have a way to keep track of who invested with what amount (to that end, they may make you create a unique ICO account). They give you an amount of ICO cryptocurrency depending on your share of the total amount received by them (some ICOs have a cap on investment, while some are open). 2. Please make sure you do a lot of reading about the project. This site, ICO reviews on Youtube, discussions on Steemit, reddit; are a good starting point. Unfortunately, there is a lot of 'meaningless ranting/currency-bashing', but there are surely gems of advice hidden between them. 3. Bear in mind that altcoins are receiving a lot of new attention and everyone is looking to make a fortune. Please make sure you don't get carried away and invest with whatever you can afford to lose. If you've been following the action in the recent weeks, the price-action in cryptos is very volatile. Hope you end up supporting some good ideas & end up rich too Thank you very much sir! I understand nobody really wants to reply to someone with such little knowledge. Still, everybody has to start somewhere! I am grateful. I have been reading that the ICO may be over in minutes because of the whales who invest a lot (and the cap is soon reached). Are there ways to prevent being left out of the ICO? I know I am maybe asking the million dollar question, but I am trying it anyways :-)
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Razaberry
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May 30, 2017, 05:38:08 AM |
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We already have token platforms like ETH or WAVE. Do you have a good reason for using Bancor instead?
Bancor & Waves compete on some aspect of their use cases, and are potentially complementary so long as both ETH & Waves blockchains thrive. Their competitive aspect lies in the fact that both Bancor & Waves aim to be the creation medium behind a whole slew of new tokens representing countless new types of value. Bancor has two major differences to Waves here: The first is that Bancor tokens are fully liquid from day one. So even if its some tiny token that never aims to become worth millions or be traded on a large scale... it's still always immediately exchangeable for any other coin or token on the entire Bancor network (including ETH and every major ERC20 token) Waves has their decentralized exchange, of course, but it still requires that you find a second party to trade with, which rules out small-market-cap tokens. The second is that Bancor is build on Ethereum tech. We don't compete with ETH at all, we are a use case of ETH-built technologies and coins. At the moment, that means we're backed by a more developed & successful blockchain, and therefore have a larger set of currencies and of users to launch with. However should Waves succeed and become a widely used blockchain of tokens, the two can indirectly collaborate. Tokens on both Ethereum and Waves blockchains can be 1:1 tokenized for each other. Waves Token backed ERC20 tokens could use the Bancor network for liquidity & as reserve tokens.
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Razaberry
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May 30, 2017, 05:39:35 AM |
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Many questions appearing here were already answered in the whitepaper.
Ahaha yeah, welcome to the world of forum comments
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Razaberry
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May 30, 2017, 05:40:40 AM |
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The coefficient of the permanent provisions will be determined and by whom? When there are more or will remain, know-How and we remain in the dark...
Sorry, I'm not sure what your question is. If you're asking who will set the Constant Reserve Ratio (CRR) of each smart token, that will be said token's creator.
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Razaberry
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May 30, 2017, 05:42:02 AM |
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I have saved up 30 ETH. Would it be enough ?
I mean enough is kinda subjective. Technically, 0.001 ETH would be enough to participate in the ICO.
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Razaberry
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May 30, 2017, 05:50:30 AM |
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Something I don't understand yet. Lets say I want to make a new currency ("ImaginaryCoin" or IMC lets say). That currency isn't on any exchanges. How would I give IMC value through Bancor? Do I just make a value up (1 ETH per IMC or 0.25 BNC per IMC or etc.)? I haven't seen a clear outline on that process yet.
For a normal cryptocurrency the value is determined by its exchange value, but Bancor is looking to bypass counterparty. They say the price is self-regulating and will stay at market value, but what about coins without an existing market value like this hypothetical IMC currency? What determines the starting price?
Okay so imagine the creation of the ImaginaryCoin smart token (and IMC's smart contract) like a little robot you’ve created. The robot has two (or more) wallets. One wallet is full of an asset (let's choose ETH for this example). The other is a bottomless wallet of a new asset (IMC, in this case). When you create the robot, you give it a CRR (Constant Reserve Ratio). This is the percentage of total value that the robot assigns the total-individual-value of each of its wallets. It will use this CRR (which is a % between >0 and 100) to determine the price IMC relative to ETH. Here's how. Let's say the CRR for this Robot is 20% ETH and 80% IMC (of which there are currently 100 in existence out in the world). If it has 1000 ETH in its wallet, the cost of 1 IMC follows this equation: Price = Marketcap / supply Market Cap = Reserve Balance / CRR = 1000 ETH / 0.2 So Market Cap is 5000 ETH Price of IMC = Marketcap / Supply = 5000 / 100 1 IMC = 50 ETH Now there is a larger reserve balance of ETH, thereby increasing the price of IMC for the next buyer. The next NewCoin would cost (1050/0.2)/101 = 51.9802 ETH Now all of this gives value to the coin in terms of price discovery... but IMC has to itself have value or else everyone will liquidate it for ETH and it will die. So the value is created by, just like any currency, some external source. But trading is created by the reserve currency.
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Razaberry
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May 30, 2017, 05:54:39 AM |
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I hate teams like this, they don't inform about anything. It's 29 May people deserve at least apology for delay.
Oh my god. They already delay the project like since one week ago. And they update the website too. And people here also post regarding the delay and inform about the upcoming announcement. Read at least few page before comment. And where is my apology? Fuck them. No no, this is fair. markelof, on behalf of the Bancor team (which I am a part of), I apologize to you for us delaying this ICO with so little communication on when the new date will be. Guy, Eyal, and the team are working on that as I type this.
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Razaberry
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May 30, 2017, 05:59:22 AM |
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But, more importantly, I haven't a clue on how to join in on the crowd sale. Are there any specifics or demands I have to meet in order for me to invest during the crowd sale?
I am currently using Exodus. Can I participate with Exodus?
Would be happy if anyone can give me some pointers.
I'm just a few weeks older to you in the cryptoworld - let me answer this till a more senior member gives a more qualified response. 1. Participating in an ICO merely involves transferring some cryptocurrency (mostly Bitcoin/Ethereum) to a specified address. You should be able to do this in Exodus. The ICO folks have a way to keep track of who invested with what amount (to that end, they may make you create a unique ICO account). They give you an amount of ICO cryptocurrency depending on your share of the total amount received by them (some ICOs have a cap on investment, while some are open). 2. Please make sure you do a lot of reading about the project. This site, ICO reviews on Youtube, discussions on Steemit, reddit; are a good starting point. Unfortunately, there is a lot of 'meaningless ranting/currency-bashing', but there are surely gems of advice hidden between them. 3. Bear in mind that altcoins are receiving a lot of new attention and everyone is looking to make a fortune. Please make sure you don't get carried away and invest with whatever you can afford to lose. If you've been following the action in the recent weeks, the price-action in cryptos is very volatile. Hope you end up supporting some good ideas & end up rich too Excellent answer. Only thing to include from the team is that we'll be publishing a detailed how-to on the blog before the ICO.
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Razaberry
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May 30, 2017, 06:04:12 AM |
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Hello everyone, We were planning to announce the following along with the crowdsale terms, but since its already been posted and we don't want to keep you waiting (or confused), here is a brief sneak peak: We have entered into a partnership with Bitcoin Suisse to provide on-boarding services PRIOR to the token sale for those who want to contribute with fiat, or receive some assistance sending their crypto to a smart contract, before the actual sale begins. There is a small (standard) fee involved, specified on the website. They are also able to hold your tokens for you until you want to receive possession of them. They are very reliable and have a great reputation in the industry and among other token sale teams. We entered into this partnership with Bitcoin Suisse to make the token sale more accessible and allow those who wish to be involved to guarantee their place even before the start date. The remainder of the details coming soon... and in the meantime here is the link for contributions: https://www.bitcoinsuisse.ch/bancor/Please note, regretfully, due to regulatory uncertainties, this service is currently available to NON US citizens only Well done guys, this will give non-crypto investors chance to participate in the ICO. But I want to ask can US citizens invest with BTC Yup. We'll be accepting BTC.
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RAGEmond
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May 30, 2017, 06:09:06 AM |
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I'm a swissguy, is there any benefit of investing via Bitcoin Suisse rather than your main crowdsale which has not started yet?
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ikm
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May 30, 2017, 06:14:26 AM |
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If pre-sale has started, ICO will start now. They better make an announcement
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cryptjunkienz
Newbie
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Activity: 5
Merit: 0
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May 30, 2017, 06:45:21 AM |
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does anyone know when the ICO begins ? also can i buy with ETH. limited details for such a good project....frustrating
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num_phill
Newbie
Offline
Activity: 34
Merit: 0
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May 30, 2017, 07:23:10 AM |
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Where is the ICO page?
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Razaberry
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May 30, 2017, 09:02:11 AM |
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Does the Bancor protocol price discovery mechanism add to the price volatility, compared to crypto-exchanges? On the contrary. By holding a reserve balance which preserves a constant ratio to the market-cap, the price volatility of smart tokens is not subject to the current market depth since the reserve functions as a predictable and controlled alternative to the traditional order book which normally provides market depth. We’ve seen that regular exchanges generally hold around 1% market depth, meaning that any smart token with a CRR above 1% could be relatively more This is total BS! According to your own formula, at 1% fractional reserve, changing supply by 1% will change the price by 150%. Is not this volatile??? Yeah right, the formula for price change is deterministic, but a trade is a random event, and any function of random event is a random variable. With low fractional reserve your tokens are going to be as volatile as any low volume tokens on exchanges. Okay, what would happen if, say, someone bought 1% of the supply of Bitcoin? That would be a ~$370 Million USD purchase. I imagine that too would change the BTC price in a volatile way. Any 1% purchase/liquidation of any currency would.
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Razaberry
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May 30, 2017, 09:04:38 AM |
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I'm a swissguy, is there any benefit of investing via Bitcoin Suisse rather than your main crowdsale which has not started yet? The main purpose of Bitcoin Suisse is that it lets you invest with fiat. If you're investing with crypto, then you'll want the ICO.
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mcfom
Legendary
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Activity: 1260
Merit: 1001
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May 30, 2017, 09:20:58 AM |
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I'm a swissguy, is there any benefit of investing via Bitcoin Suisse rather than your main crowdsale which has not started yet? The main purpose of Bitcoin Suisse is that it lets you invest with fiat. If you're investing with crypto, then you'll want the ICO. I see pre-sale is active on Bitcoin Suisse so it's okay to buy now from that site even no details announced for ICO and what is the hard cap for this crowdsale. I believe Bancor will be mega project and this is golden chance for early birds to pick this token right now.
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cjnmoh
Member
Offline
Activity: 98
Merit: 10
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May 30, 2017, 10:23:10 AM |
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you can explain detail youre coin i can't get anything information youre coin in this thread how much total suply how much premine tipe coin and more
This is a very promising ICO offered by Bancor Network. I think everybody should participate in the Bounty program for earning some free coin and wait a little to take part in the crowd sale. The crowd sale is going to begin soon. https://bancor.network/bounty#
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