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Author Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem  (Read 366966 times)
whale123
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June 09, 2017, 07:32:20 AM
 #1381

I think we need to use big red letters for the devs to actually answer this question.

Why have you decided on capping the ICO at 260 million dollars?

It is right there in the contract. And it is too high. Since you are selling only 50% coins in that presale, that would make the market cap of Bancor at 520 million dollars. You can arbitralily chose the hard cap and set it to 50 million or 150 million, so why do you want to set it at exactly 250 million dollars and not lower despite the community asks you to do so? Many people were rising this question and the team denies to answer it. Why do you want 260 million dollars? And if you don't wan't that much, why do you avoid capping the ICO lower?

Are you kidding me? Have you read the tons of statements in the thread here that the contract on github is only a draft and that the real contract code is hidden because of the hidden cap? There are comments in the contract that say that the cap value provided will be changed and is temporarily. Read the thread before posting in that font size.  Angry

You are confusing hidden cap and hard cap.
Recent blog post on bancor.network indeed confirms that the hard cap in the contract will be 1 million ether (about 260 million USD).

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June 09, 2017, 07:33:48 AM
 #1382

also Chinese people said you are cooperate with antshare project?

is that true?

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June 09, 2017, 08:05:27 AM
 #1383

I think we need to use big red letters for the devs to actually answer this question.

Why have you decided on capping the ICO at 260 million dollars?

It is right there in the contract. And it is too high. Since you are selling only 50% coins in that presale, that would make the market cap of Bancor at 520 million dollars. You can arbitralily chose the hard cap and set it to 50 million or 150 million, so why do you want to set it at exactly 250 million dollars and not lower despite the community asks you to do so? Many people were rising this question and the team denies to answer it. Why do you want 260 million dollars? And if you don't wan't that much, why do you avoid capping the ICO lower?
Hidden cap and hard cap are 2 different things.
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June 09, 2017, 08:17:42 AM
 #1384

The 1 million ether cap equals 260 million USD equals 520 USD market cap. It might look big but compare it with Ethereum or Stratis which are much bigger.
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June 09, 2017, 09:26:20 AM
 #1385

The 1 million ether cap equals 260 million USD equals 520 USD market cap. It might look big but compare it with Ethereum or Stratis which are much bigger.

It's ironical you not getting the point. Hidden cap and hard cap are two different things. The basic concern that investors have is, why change the terms of contract as written in your whitepaper, that is not only fraudalent, but simple demostrate bancor as a money grab project. Ofcourse i like the vision and what it aim to build, but do not tarnish your image with greed. At the long run the investors are the primarily people who can promote your project, even if it is someone who is investing 1ether. The stratis you just stated, i invested during its ICO for 0.5 btc which was at around 300USD i got 55,000 stratis. Stratis investors are die hard Hodl and that is the basic reason stratis is shooting up and achieveing such success. You cannot at the beginning of your ICO change the terms, because you already got enough VC backing or amazing presale. the image of the company, and the community support is what matters most in this crypto-space and not neccesarily the idea or technology.

On the other hand, the uncapped idea that you choose would give anyone who wants to get in a chance. All the best in your ICO.

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June 09, 2017, 10:03:20 AM
 #1386

The Bitcoin Swiss pre-sale is a farce. I submitted all documents on monday and the week is over and they didn't process my application yet, nor they answered to my emails and phone calls. Bad, bad, bad.

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June 09, 2017, 10:06:27 AM
 #1387

The 1 million ether cap equals 260 million USD equals 520 USD market cap. It might look big but compare it with Ethereum or Stratis which are much bigger.

It's ironical you not getting the point. Hidden cap and hard cap are two different things. The basic concern that investors have is, why change the terms of contract as written in your whitepaper, that is not only fraudalent, but simple demostrate bancor as a money grab project. Ofcourse i like the vision and what it aim to build, but do not tarnish your image with greed. At the long run the investors are the primarily people who can promote your project, even if it is someone who is investing 1ether. The stratis you just stated, i invested during its ICO for 0.5 btc which was at around 300USD i got 55,000 stratis. Stratis investors are die hard Hodl and that is the basic reason stratis is shooting up and achieveing such success. You cannot at the beginning of your ICO change the terms, because you already got enough VC backing or amazing presale. the image of the company, and the community support is what matters most in this crypto-space and not neccesarily the idea or technology.

On the other hand, the uncapped idea that you choose would give anyone who wants to get in a chance. All the best in your ICO.




Well spoken and I absolutely agree - we are all eager and ready for Monday so good luck in the ICO.
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June 09, 2017, 10:20:59 AM
 #1388

The Bitcoin Swiss pre-sale is a farce. I submitted all documents on monday and the week is over and they didn't process my application yet, nor they answered to my emails and phone calls. Bad, bad, bad.

I think they're asking too much things and taking fee. I prefer to wait public ICO.

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.▀▀▀▀▀▀▀▀    WHITEPAPER    ▀▀▀▀▀▀▀▀.
FACEBOOK       REDDIT       TELEGRAM
BITCOINTALK   TWITTER   INSTAGRAM
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June 09, 2017, 10:27:39 AM
 #1389

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.
"





Interesting, intriguing and impressive at the same time. Interesting and intriguing for obvious reason, impressive because there's clearly a strong professional team leading this project. The solution and the team are amazing and I think i'm gonna double down!
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June 09, 2017, 10:32:41 AM
 #1390

This project is necessary because sometimes I find it difficult to make orders at a decentralized exchange such as ether/delta.
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June 09, 2017, 10:35:10 AM
 #1391

BANCOR IS DEAD

https://media.consensys.net/introducing-omega-one-a-cheaper-and-safer-way-to-trade-cryptocurrencies-and-tokens-b59b9ccf29c4

OMEGA will prevail
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June 09, 2017, 10:48:49 AM
 #1392

The Bitcoin Swiss pre-sale is a farce. I submitted all documents on monday and the week is over and they didn't process my application yet, nor they answered to my emails and phone calls. Bad, bad, bad.

They are really really slow I tried joining their pre-sale but no joy. Now I decided I would rather wait for the ICO to start and contribute my ETH then.

INVIZION


















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Alfred Hard
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June 09, 2017, 10:58:45 AM
 #1393

This looks similar to Bancor, not sure what's the difference and what option will be better. Or maybe it's completely different, idk.  XD
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June 09, 2017, 11:01:57 AM
 #1394


Lol. Aggregated liquidity will be equal no more then 5% CRR from all excahnge and they are taking fees for that. While Bancor will provide minimum 10% CRR rate for BNT and without fees at all ( other then gas for tx).

The Bitcoin Swiss pre-sale is a farce. I submitted all documents on monday and the week is over and they didn't process my application yet, nor they answered to my emails and phone calls. Bad, bad, bad.

They are really really slow I tried joining their pre-sale but no joy. Now I decided I would rather wait for the ICO to start and contribute my ETH then.

They are not slow. They were overhelmed with requests Sad
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June 09, 2017, 11:11:08 AM
 #1395

Obv a troll comment. But will reply anyway Smiley
Omega and Bancor seem to do 2 different things. Just quickly went over their model and Omega seems to simply try to make the current exchange model more efficient by allow you to have access to the best price on every exchange (instead of just one) and at the same time pooling liquidity pools of all exchanges, making the spread tighter.... Correct me if I'm wrong.
Bancor does something completely new by eliminating the need to for a coin to be liquid. Bancor's price discovery works by finding an equilibrium between purchase and liquidation volumes (no counterparty is necessary, so no spread).
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June 09, 2017, 11:17:15 AM
 #1396

people saying that 1 mil ETH (260 mil usd ) cap with a 520 mil  market cap is big are most probably interested whales. to be honest, i was expecting 2 mil market cap  Grin .i think that there are very very few crypto out that will have such an impact on the crypto world and the devs know the real value of the project. and some of us realise this also  Wink. bancor will get 10 times bigger in half a year because they deliver a already finished product.

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/iTEX/./INNOVATING TRADING EXCHANGE/.
/Whitepaper/ /Sign Up/ /Buy Token Now/


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June 09, 2017, 11:23:42 AM
 #1397

Its so different than bancor.
Can you use omega to trade low volume & liquidity community token ?
Omega rely on exchanges.
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June 09, 2017, 11:28:19 AM
 #1398

people saying that 1 mil ETH (260 mil usd ) cap with a 520 mil  market cap is big are most probably interested whales. to be honest, i was expecting 2 mil market cap  Grin .i think that there are very very few crypto out that will have such an impact on the crypto world and the devs know the real value of the project. and some of us realise this also  Wink. bancor will get 10 times bigger in half a year because they deliver a already finished product.
Grin Grin

2 million market cap  Shocked Isn't that too much  Tongue

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whatsTheDeal
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June 09, 2017, 11:32:10 AM
 #1399

I think we need to use big red letters for the devs to actually answer this question.

Why have you decided on capping the ICO at 260 million dollars?

It is right there in the contract. And it is too high. Since you are selling only 50% coins in that presale, that would make the market cap of Bancor at 520 million dollars. You can arbitralily chose the hard cap and set it to 50 million or 150 million, so why do you want to set it at exactly 250 million dollars and not lower despite the community asks you to do so? Many people were rising this question and the team denies to answer it. Why do you want 260 million dollars? And if you don't wan't that much, why do you avoid capping the ICO lower?

you do realise "hardcap" is nothing right? its just a way that you put a cap so you can later change that 1 into something else... what is the big deal? why are you people so naive to think someone would invest 260m USD ? are you insane? what project has EVER raised that much, some projects which were hyped as hell didnt raise more than 20 and had plenty of time. matchpool raised 7 million in about an hour, argon raised what 20-25 mil? in 15 minutes, do you guys think there is an endless stream of money just going in? people arent going to be like "well if its still open ill 1000X my initial investment"

StevePe
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June 09, 2017, 11:38:49 AM
 #1400

The value of the BNT after ICO will depend on three main unknowns:

- How much BNT will be required as reserve for smart tokens created through the Bancor platform before the monthly fee is waived
- How high the monthly fee will be for smart tokens created using the Bancor platform
- How the CRR of the BNT will be changed after the ICO

And of course general adoption but that is anybody's guess right now anyway.
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