[ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem

[Orr]

So, I'm sort of running in circles with my understanding of this ICO...maybe someone smarter than I could clear this up for me!
My understanding is that when you participate in this crowdsale, you get a/number of Bancor Token, not one of their smart tokens which I understand to be baskets of other crypto currencies like and ETF essentially. Initially I thought the prices of a bancor token was tied to Ethereum 1 to 1 but looking into it more, it seems it isn't. Does anyone know how much is one bancor token is worth in respect to dollar/bitcoin/eth or will that be determined afer the ICO takes place? For example how many bancor tokens will you get for 500 dollars potentially (I know its not possible to be exact here). I think I'm just fundamentally not understanding this. To be clear, this is my first time participating in a crowdsale or ICO so please excuse my ignorance!

you are not understanding it because we didn't release the ICO details yet..
we will release all info in the upcoming days, including Bancor price

[cormacoin]

you are not understanding it because we didn't release the ICO details yet..
we will release all info in the upcoming days, including Bancor price

thanks. Here's hoping waiting for that info wont affect my position in the bitcoin suisse sale.

[bitcircle]

you right guys, we created a separate token allocation for that program.

When details will out for this token so what is requirement to join this highly paid program. 4500 tokens on weekly basis very impressive I also would like to be part of this bounty. Thanks for timely response to sort out this matter.

[jacafbiz]

We already have token platforms like ETH or WAVE.
Do you have a good reason for using Bancor instead?

So far, nobody could answer my legit question

Because there's no reason to use this coin. This is the new way of scamming.
I can't believe so many people fall for these scams. They just want the money, they don't offer no real life usage.

One thing I've noticed in some people is that once they don't understand a concept, they call it scam. There is nothing bad in asking more questions to learn more about something but just jumping into a conclusion of scam is bad at this level

[RAGEmond]

Why did you include Ambassador Payment to SocialMediaBounty payment pool? There was no AmbassadorProgram in SocialBounty Rules from the beginning here https://app.bancor.network/communities/59072b3b73f6660001aa8e91

problem solved, thank you bancor for taking us seriously:

Hi there. We received a lot of feedback that the new ambassador program, which is critical to our shared success, might harm some of the others focused on spreading Bancor's message across social media by diluting the bounty pool.

As this was a relatively late addition to the menu of bounties, we decided to take this feedback to heart and create a separate "side pocket" so to speak for ambassadors with a separate allocation of BANCOR tokens. As such, the efforts of everyone else on social media will stand on their own and not be affected by the ambassador allocations.

Thank you for your feedback and good hunting to us all!

[Easy2Mine]

Where further information is not known . Max Cap or Min Cap and there is information about the history of the ICO ?

[XCNP]

you are not understanding it because we didn't release the ICO details yet..
we will release all info in the upcoming days, including Bancor price

thanks. Here's hoping waiting for that info wont affect my position in the bitcoin suisse sale.

We are waiting for details to know when this ICO will be open for fund raising. I hope you will offer interesting package for investors.

[MoneroMooo]

hello dev,

I registered as hero member of bitcointalk signature campaign. hero/legend of 130 stake. I see in my bancor account stake 100.

not 100 stake, 130 stake my right. i m hero member. update please.

[riskthebiscuit]

This project has some very intersting aspects to it, dont know why people think its a scam. Maybe their impatient, maybe they havent done their hwk. Regardless of what you think prior, its def worth a good look imo

[Easy2Mine]

hello dev,

I registered as hero member of bitcointalk signature campaign. hero/legend of 130 stake. I see in my bancor account stake 100.

not 100 stake, 130 stake my right. i m hero member. update please.

app.bancor.Network from the site need to write . 

[HomoHenning]

We already have token platforms like ETH or WAVE.
Do you have a good reason for using Bancor instead?

So far, nobody could answer my legit question

Because there's no reason to use this coin. This is the new way of scamming.
I can't believe so many people fall for these scams. They just want the money, they don't offer no real life usage.

Bancor is different from eth or waves. its offering "reserved tokens"

And ERC20 coins are also "reserved tokens". There is also no liquidy problem for them. I see no added value in bancor

[BlackMike]

So, where is the the latest information about Bancor ICO? Please share any useful info.

[Orr]

Dear group,

we are proud to announce another important partnership to help spread complementary currencies around the world and bring the blockchain revolution to main street!

Bancor has just partnered with Qoin, one of the pioneers of community currencies. Together we will deploy smart tokens around the world and make a real difference in local economies.
https://blog.bancor.network/bancor-and-qoin-partner-to-deliver-platform-for-community-currencies-52f43abfd572

[MoneroMooo]

@Easy2Mine, thank you very much sir. 

the problem is that everywhere I sent it. when you go it will be fixed? although it looks like a perfect control panel, not very useful. should be uploaded automatically to My Account.

[exortis]

This platform is already live and they are running bounties on that it seems it will go live immediately right after the finish of ICO. I think this crowdsale will get finished so quickly because the this project is coming with fully functional platform.

[LaBlanj]

Dear group,

we are proud to announce another important partnership to help spread complementary currencies around the world and bring the blockchain revolution to main street!

Bancor has just partnered with Qoin, one of the pioneers of community currencies. Together we will deploy smart tokens around the world and make a real difference in local economies.
https://blog.bancor.network/bancor-and-qoin-partner-to-deliver-platform-for-community-currencies-52f43abfd572

this is a great news! Gj.

[Razaberry]

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.

Thanks! Will the how-to also include which platforms can be used to participate in the ICO. For instance Exodus?

Yup.

[Razaberry]

FAQ is ready!
https://bancor.network/static/Bancor_Protocol_FAQ.pdf

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.

Exactly. Then what's a point in your token if it is not any different?

Edit: and by the way, $300M is about a daily trade volume for bitcoin, and it does not change bitcont price by 150%. Your token is actually not going to be like bitcoin, with low fractional reserve it is going to be same as  those illiquid and highly volatile tokens out there.

There's a big difference between a daily trading volume of 1% and someone either buying or selling 1%. You know this. My argument holds, because ANY currency which experiences a 1% buy/sell will experience huge fluctuation as a result.

The point of the BNT token is simple: to be the default reserve currency of smart tokens on the Bancor network, tying them all together so that all token-changers work as one (so you can exchange any currency for any other) and so that a raise in value of any token on the network raises the value of BNT and therefore of every token holding BNT in reserve. As for Bancor being the same as a illiquid token, it will be liquid for ETH from day 1.

[Razaberry]

The token sale is delayed. As has been announced for some time, it will NOT be today on May 30th. We are waiting for the third and final round of contract audits from our new partner, Consensys, before starting the token sale.

We anticipate it will take place in June. Token sale terms will be released shortly. The token sale date will be announced as soon as possible. Thank you.

Recent news:

- Bancor FAQ: https://[Suspicious link removed]/SIVaHK
- Presale available at Bitcoin Suisse: http://bitcoinsuisse.com/bancor
- We just published our product roadmap (using Trello). I would be happy to get your feedback and thoughts. https://[Suspicious link removed]/YlccdI (edited)

These best be the cheapest ICO tokens I ever saw, jesus you lot are wasting hella time

Also, why did I have to upload and sign documents for this ICO, seems to defeat the purpose

You only have to upload and sign docs if you're getting your BNT through the Bitcoin Suisse presale. Because it is not part of the ICO and must go through gov regulation.

[Razaberry]

We already have token platforms like ETH or WAVE.
Do you have a good reason for using Bancor instead?

So far, nobody could answer my legit question

Copy-pasted from an answer on reddit: https://www.reddit.com/r/Bancor/comments/6dpmhm/bancor_vs_waves/

it is very possible for both Bancor and Waves to thrive as they only compete on some aspect of their use cases, and are potentially complimentary 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. 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.