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

[majestymage]

someone managed to find in the code the max supply of eth? 1m eth?  this is a good deal...

[sud]

someone managed to find in the code the max supply of eth? 1m eth?  this is a good deal...

1M ETH cap is for security reason. No chance to rise so much at current ETH price.

[vuvanle120]

someone managed to find in the code the max supply of eth? 1m eth?  this is a good deal...

I think it will be adjusted

[majestymage]

someone managed to find in the code the max supply of eth? 1m eth?  this is a good deal...

1M ETH cap is for security reason. No chance to rise so much at current ETH price.

i think this is quite ok for this project..and they will get this cap VERY quick

[2econd]

I can hardly believe this thread has only a few pages... Surely Bancor is a very hyped product/platform! As a student of Anthropology and Developmental Sociology, I am excited about what this might mean for certain underprivileged communities!

[PaulEngelbertink]

is bitcoin suisse sold out??

https://www.bitcoinsuisse.ch/bancor/

There is still 38% left out of 100% amount so you can buy from giving link.

I think it's sold out yes!

[Alfred Hard]

What do you think of this?:

https://www.reddit.com/r/ethtrader/comments/6fmj9w/bancor_ico_analysis_scam/

Bancor looks very promising, but all the talk about the ICO being risky because of the unlimited/hidden cap could make that a lot of people don't want to risk their money investing on this. Like Mulder, I want to believe, but I really don't know what to think about it, I see people saying this will be a great opportunity and a lot of people warning about it being too risky, I wouldn't like to invest money on this ICO and then find out that next day the coins (or tokens or whatever they are called) have lost half of their value.

[ruletheworld]

No, sorry guys, they announced in the telegram (I think it is pinned) that Bitcoin-Suisse is taking no more applications. Probably their contingent is almost used up and they just need to work thorugh their backlog of applications.

I think it wouldn't make any sense to participate via Bitcoin Suisse now as the process takes some while and ICO will start in four days..

Oh wow I didn't track the progress of the ICO via Bitcoin Suisse. They say 260 contributors are in the queue and it's already 70% sold out. This means the ICO will open for at least an hour, and likely get much more than the remaining 30% cap. So seems like it's going to be another one of those huge ICOs.

[2econd]

I think all of us already know the ICO will only last an hour indeed.

[2econd]

What do you think of this?:

https://www.reddit.com/r/ethtrader/comments/6fmj9w/bancor_ico_analysis_scam/

Bancor looks very promising, but all the talk about the ICO being risky because of the unlimited/hidden cap could make that a lot of people don't want to risk their money investing on this. Like Mulder, I want to believe, but I really don't know what to think about it, I see people saying this will be a great opportunity and a lot of people warning about it being too risky, I wouldn't like to invest money on this ICO and then find out that next day the coins (or tokens or whatever they are called) have lost half of their value.

What is risky? Want all to end up in the hands of 50 people, again?
I'm glad Bancor tries to keep cryptocurrency in line, decentralized and for the little guy too

[n00b3rt]

I think devs don't owe greedy people who want to buy and dump on the next day for profit anything.

Just focus on the product, every investor will be happy, you're a great example of innovation. Projects like this are essential for mainstream crypto adoption!

[ICObazaar]

Hey everybody,

We have listed BNT on ICObazaar.

https://icobazaar.com/bancor

We have purchased a stake of BNT during the pre-sale, and now re-selling it for purchase as IOU.
We are selling a limited amount of tokens from our stake, for higher price than opening ICO price as we believe that ICO most likely will be over sooner than most of people will have a chance to participate. But we believe that BNT price will skyrocket as soon as it'll be listed on most of exchanges.

So if anyone don't want to try their luck during the initial crowd sale - you are welcome to purchase it from ICO bazaar.

If anyone have any questions - I'll be happy to answer them.

[jennywhzz]

someone managed to find in the code the max supply of eth? 1m eth?  this is a good deal...

This is one of the first side tokens that I ever became aware of when it was first being issued that was based on the current ETH. 

[mrayazgul]

I think devs don't owe greedy people who want to buy and dump on the next day for profit anything.

Just focus on the product, every investor will be happy, you're a great example of innovation. Projects like this are essential for mainstream crypto adoption!

There are plenty out there, but most of the time I ignore and for some reason this one had caught my eye months back.  I think that there is huge place in the crypto markets for more and even more side tokens and the reason that there are not as many as there could be is the fact that people miss the major benefits of them.

[Alfred Hard]

What do you think of this?:

https://www.reddit.com/r/ethtrader/comments/6fmj9w/bancor_ico_analysis_scam/

Bancor looks very promising, but all the talk about the ICO being risky because of the unlimited/hidden cap could make that a lot of people don't want to risk their money investing on this. Like Mulder, I want to believe, but I really don't know what to think about it, I see people saying this will be a great opportunity and a lot of people warning about it being too risky, I wouldn't like to invest money on this ICO and then find out that next day the coins (or tokens or whatever they are called) have lost half of their value.

What is risky? Want all to end up in the hands of 50 people, again?
I'm glad Bancor tries to keep cryptocurrency in line, decentralized and for the little guy too

Well, risky could be investing, idk, like 5k euros and that the next day the value of the investment is 2k/3k or less because the coin value is much lower (I guess that's how it works, correct me if I'm wrong).

I agree that it's great that everybody can potentially participate on this, and if after the ICO the coin price is stable and with time goes up because the project is really good, then that would be fantastic, but I keep reading that for some reason I really don't fully understand if there is no cap and everybody can buy for 60 minutes that could mean that the coin value will be much lower after the ICO and that could mean that most investors (including the little guy) would lose money. And if it was just some money, meaning a 5%-10%, then, well, it's an acceptable risk and maybe with time the coin value goes up and this could be a good investment, but if half of the value is lost in a day (or a week, idk), then obviously a lot of people could be mad for having invested so soon when they could have waited and get many more coins for the same money they used to invest before.

I really have no idea if the coin value will be lower after the ICO, I'm just commenting what I've read somewhere else (youtube, reddit, other message boards), if you or anyone else know some reason why people talking about this potential price drop after the ICO are wrong, then I'll be glad to read what you have to say. I'm really interested on this, it looks like it has potential, but I'm just concerned about what other people are commenting. I have ZERO experience with ICOs and cryptocurrency in general, I'm just trying to learn about it these days because I find all of this very interesting, but I obviously have no idea about what is going to happen with Bancor or with any other altcoin.

[Lankster]

What do you think of this?:

https://www.reddit.com/r/ethtrader/comments/6fmj9w/bancor_ico_analysis_scam/

Bancor looks very promising, but all the talk about the ICO being risky because of the unlimited/hidden cap could make that a lot of people don't want to risk their money investing on this. Like Mulder, I want to believe, but I really don't know what to think about it, I see people saying this will be a great opportunity and a lot of people warning about it being too risky, I wouldn't like to invest money on this ICO and then find out that next day the coins (or tokens or whatever they are called) have lost half of their value.

What is risky? Want all to end up in the hands of 50 people, again?
I'm glad Bancor tries to keep cryptocurrency in line, decentralized and for the little guy too

Well, risky could be investing, idk, like 5k euros and that the next day the value of the investment is 2k/3k or less because the coin value is much lower (I guess that's how it works, correct me if I'm wrong).

I agree that it's great that everybody can potentially participate on this, and if after the ICO the coin price is stable and with time goes up because the project is really good, then that would be fantastic, but I keep reading that for some reason I really don't fully understand if there is no cap and everybody can buy for 60 minutes that could mean that the coin value will be much lower after the ICO and that could mean that most investors (including the little guy) would lose money. And if it was just some money, meaning a 5%-10%, then, well, it's an acceptable risk and maybe with time the coin value goes up and this could be a good investment, but if half of the value is lost in a day (or a week, idk), then obviously a lot of people could be mad for having invested so soon when they could have waited and get many more coins for the same money they used to invest before.

I really have no idea if the coin value will be lower after the ICO, I'm just commenting what I've read somewhere else (youtube, reddit, other message boards), if you or anyone else know some reason why people talking about this potential price drop after the ICO are wrong, then I'll be glad to read what you have to say. I'm really interested on this, it looks like it has potential, but I'm just concerned about what other people are commenting. I have ZERO experience with ICOs and cryptocurrency in general, I'm just trying to learn about it these days because I find all of this very interesting, but I obviously have no idea about what is going to happen with Bancor or with any other altcoin.

Maybe I'm missing something in their protocol. But there's no difference between people buying more tokens and a price drop post ICO. If anything, people buying more tokens means less available which means price goes up..

I mean the only logical explanation for that is if everybody buys ICO, who's going to buy after to keep the price risinf? But to stipulate that it's going to drop 50% is prettt darn stupid if you ask me

[Weider]

Some news from there official blog. You should check this out!

https://blog.bancor.network/the-community-of-the-currency-9770087fde17


"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, we have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:

20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.

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."

[ruletheworld]

Some news from there official blog. You should check this out!

https://blog.bancor.network/the-community-of-the-currency-9770087fde17


"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, we have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:

20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.

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."

That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO.

[Lankster]

I am liking everything this team has been saying.

I am investing for sure.

[seek4dream]

Some news from there official blog. You should check this out!

https://blog.bancor.network/the-community-of-the-currency-9770087fde17


"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, we have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows:

20% will be allocated to the BNT Ether Reserve, to further improve the liquidity of BNT, which increases stability while reducing conversion costs (price slippage) for all.

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."

That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO.

It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.