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

[SockPuppetAccount]

don't know what you guys want here.  If you can devise an ICO method that keeps the marketcap reasonable, while at the same time preventing a small group from cornering the market on day one, let's hear it.  All I see is bitching and moaning.

Use the pre-ICO with BTC-suisse to let the small fish and everyone else who doesn't want to gamble get in. There, you can mostly cap the investment per customer (ID verification).
The ones who want to invest whale-amounts or think they can make it and want to avoid the fee/identification can try their luck in the "open" ICO with a reasonable cap.

US citizens and residents are shut out of using BTCsuisse.  I understand the world is much bigger than just the US, but it shuts out a lot of potential investors, myself included.

I know damn well I will NOT be getting in if there is an open ICO with a low cap.  I'll just end up wasting a lot of money on gas.

[1713580979]

1713580979

[1713580979]

1713580979

[1713580979]

1713580979

[1713580979]

1713580979

[1713580979]

1713580979

[Bancorholder]

What I don't understand well is the price value of BNT when post ICO.

Right now, 1 BNT looks like it will be around $2.50 USD possibly closet to 3.00USD if ETH keep going up.

The part I don't understand is that if market cap reaches 500 million at ICO, hypothetically, then this will devalue my BNT? So 1 BNT could be worth a lot less than 2.50 USD after ICO due to more investors pumping more money? Someone explain this to me.

[sth2017]

If they do it this way, it doesn't evenm atter if they raise 100 or 200 or 500 million.
The name Bancor will be tarnished before it even starts.
With such a high profile project, you have to know beforehand what you need to realize your product. Don't collect as much cash as possible, from with 20% or whatever goes to the devs and founders etc. And then the "hidden" cap...
They take a large part of the reward away from the investors, heavily increase their risk, and give themselves heaps of spare cash for lamborghinis.
Sometimes you have to be "hard" and set a cap, or find some other way. But the team saying "we take as much money as possible" instead of "we need 30 mil for x, 50 mil for x+y" is simply unprofessional.

If they don't provide a different solution, capped in one way or the other, I will sadly have to ask nicolai to return my funds.
Oh right, I was told there'd be a cap and paid a fee to secure a spot ...  

There IS a cap.  The cap is secret though, because if it were known whales would know exactly how much ETH to send to ensure they scoop up all the coins in the first hour. 

Anyone arguing against this decision is either stupid or a sock puppet of the same whales that bought up BAT, and now they are salty they will have to pay dearly to corner the market on day one.

This coin is sexy as hell, and I got 20 ETH ready for the ICO.  Thanks for making sure the little guy can get piece of the action too!

Your answer implies that one of us understood the terms wrong. So I just read them again and came to the same conclusion:
During the first hour, their (hidden) cap does not matter whatsoever.
If they set the "cap" to say 50 million, but at the 5 minute mark this sum is acquired, the ICO will continue (since they guarantee one hour and there is no other mechanism in place). So at 60 minutes they could have raised 600+ and then that's it.
The way I see it, the guaranteed 1 houre overrides the cap, whatever it might be.
But please, correct me if I'm wrong.

You are correct.  If hitting the cap would shut down the ICO, whales would just continue pumping 10000 ETH at a time into it until it hits the cap.  If the cap is known, whales will just send what it takes to corner the market right away.

I don't know what you guys want here.  If you can devise an ICO method that keeps the marketcap reasonable, while at the same time preventing a small group from cornering the market on day one, let's hear it.  All I see is bitching and moaning. 

All I know is I am not a whale and I am never getting into the ICO if it is capped.  If that means my investment is gonna take longer to appreciate in value, so be it.  Wasn't planning on selling anytime soon anyway.

It will be right to wait for the coin to leave for stock exchanges and there we will see whale movements.

[xiyuyoufeng]

I think the new ICO principle is not good, but it avoid the sencinio like bat. Totally it's a good solution for this ico. One hour no cap, big money come to invest, haha, you want to do like bat, it's impossible here.

[xiyuyoufeng]

don't know what you guys want here.  If you can devise an ICO method that keeps the marketcap reasonable, while at the same time preventing a small group from cornering the market on day one, let's hear it.  All I see is bitching and moaning.

Use the pre-ICO with BTC-suisse to let the small fish and everyone else who doesn't want to gamble get in. There, you can mostly cap the investment per customer (ID verification).
The ones who want to invest whale-amounts or think they can make it and want to avoid the fee/identification can try their luck in the "open" ICO with a reasonable cap.

US citizens and residents are shut out of using BTCsuisse.  I understand the world is much bigger than just the US, but it shuts out a lot of potential investors, myself included.

I know damn well I will NOT be getting in if there is an open ICO with a low cap.  I'll just end up wasting a lot of money on gas.

I feel very strange also, why shut down the door for us.

[topesis]

I think the new ICO principle is not good, but it avoid the sencinio like bat. Totally it's a good solution for this ico. One hour no cap, big money come to invest, haha, you want to do like bat, it's impossible here.

I don't know why some people still focus on BAT ICO, there are some many good projects coming up that are not over valued in any way but to pick gems like this you need to first do your due diligence most of this craze will not end well

[Sam San]

I think the new ICO principle is not good, but it avoid the sencinio like bat. Totally it's a good solution for this ico. One hour no cap, big money come to invest, haha, you want to do like bat, it's impossible here.

I don't know why some people still focus on BAT ICO, there are some many good projects coming up that are not over valued in any way but to pick gems like this you need to first do your due diligence most of this craze will not end well

this is reminiscent of the gold rush. by the fall there will be several alternatives to ETH. Output large projects and there will be the same capture the primary market and then the whales will start to pay attention to on the client portfolios of small investors....now promoted ICO market swallows and while it will continue to be a successful team on the wave of success.

List of the Top 1000 Addresses sorted by the Total Token (ERC-20) Holdings Value
The cumulative total value of the top 1000 Addresses are $5,320,201,476.05

a small tub for big sharks

[86B]

Here's what I see:

Cap it too low and the whales feast.

No cap and the lemmings suffer (this will run well beyond its proper value due to the hype).

Spend time to cap it accurately and the whales and lemmings both get a piece of the pie without blowing past overvaluation.


Running 1 hour uncapped is a phenomenal move for Bancor, manageable for the whales, but BAD for the lemmings.  Whales aren't affected as much because they will hold volume nonetheless, but the real punch to the face here is going to be handed to the lemmings because they will need to chase higher yields in an already inflated market cap starting day 1.  Yeah there's the long-term investment mindset, but if the uncapped ICO goes nuts I don't see the point investing in something that will be its 5 year future value on day 1.

One thing is for certain and that's Bancor is about to get PAID.

[romanekras]

Bancor ICO Starting from June 10th- The Participation Terms.
The Bancor Protocol Crowdsale by Bprotocol Foundation, a Swiss non-profit organization, has been announced to start by June 10. The ICO has already started to gain attention since Bancor protocol is a standard for a new generation of the cryptocurrencies called the Smart Tokens. With this protocol, the Bprotocol foundation aims to establish a global standard for the intrinsically tradeable currencies. Being a contributor in this protocol through the upcoming ICO, users will be generating BNT, the first smart token to be used using the Bancor protocol, founding a Bancor network.
The smart tokens provide the mechanism for auto price discovery and continuous liquidity. These tokens enable any investor to instantly buy or liquidate tokens in exchange for any of its reserve tokens, directly via smart token’s contract, at a continuously gauged price & as per the formula that balances buying and selling volumes. More

[omorfi]

Confidentiality of collected volume of investment very wisely. Maybe ico gonna finish in a hour lol

[steamon]

This ico will most likely finish in 1 hour and I like the 1 hour no cap gives me a normal chance in getting in.

EDIT: Its only 1 hour the hole world does not know about crypto yet so yea it can reach 100 500 mil. Future can by much higher. For short term profits I don't recommand to buy this coin.

[stefanoste]

How many Bancor every Eth??

[Monkey1]

A different ICO will be . I'm looking forward to it .

[dishku]

How many Bancor every Eth??

The conversion rate is 1ETH = 100 BNT

I think this ICO will sold out very quickly everyone is ready to invest in this project.

[stefanoste]

THX ...so many ico lately !!!!!

How many Bancor every Eth??

The conversion rate is 1ETH = 100 BNT

I think this ICO will sold out very quickly everyone is ready to invest in this project.

[easyrimka]

how many eth are good to invest in this ICO for someone having 1.70B folio ?

[talkingdreams]

I think the new ICO principle is not good, but it avoid the sencinio like bat. Totally it's a good solution for this ico. One hour no cap, big money come to invest, haha, you want to do like bat, it's impossible here.

I don't know why some people still focus on BAT ICO, there are some many good projects coming up that are not over valued in any way but to pick gems like this you need to first do your due diligence most of this craze will not end well

Such as?

[Razaberry]

Can someone tell me if I Can participate the ico by funding the wallet diretcly from my krakken account ? Or is better and fastest to do it from myethwallet ? Im asking coz all m'y eth is in my krakken wallet. Thanks for any answer

Never buy ICO coins from an exchange, unless the ICO's company expressly specifies that that exchange can be used.

yes , someone advise me the same, thanks for this
are your from the DEV team ?

Yup. I'm growth hacker.

[Razaberry]

How soon tokens will be available after ICO ?

Max a few weeks after the end of the ICO. We'll try to do a lot faster.

[Razaberry]

Can someone please explain what's the point of the BGT token on the network ? At what moment it is needed if we can use any other token ?

Network Effects: The more smart tokens that use BNT tokens in reserve (which will be the default setting for smart token creation in any Bancor developed or financed software service), the more valuable and more in-demand the BNT token becomes. As the value of BANCOR rises, so too does the value of every smart token holding BNT in reserve. And, because we’re both the most knowledgeable about the technology behind the Bancor protocol and have first mover advantage in building on it (including over a year working with a large developer team on building the first Bancor software service UX, seeding token changers, high-potential community currencies, and popular token baskets with BNT tokens), anyone forking would need the economic incentive and the ability to surpass what we’ve built, or else will have created an inferior network with little incentive for others to use it.  (This can be compared to Ethereum, where the success of any solution that uses ETH appreciates Ether value, benefiting the entire Ethereum network).

I know what's a network effect but appart from it. Why using BGT token on the network if you can use any other token ?
Network effect is fine but I would like to know some other economic incentive.

Network Effect is the primary reason.

See, the Bancor protocol itself is open sourced. Anyone could fork it.

But because we, the bProtocol foundation, are the ones building the Bancor protocol, our instance of it (with the many large token changers, ETFs, and smart tokens seeded with BNT by us. Plus our smart token creation chat bots have BNT as their default reserve token) will have the most build up and therefore liquid and useful infrastructure.

We expect and welcome people forking the Bancor protocol for useful purposes, but doubt that anyone will build a more useful network than the one we'll be building on BNT.