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

[crypt0dude]

As promised, I'm back with my verdict if I'd invest or not based on my own sentiment and the answer is no. Another reason against the false assumption of a guy here on the forums accusing new accounts to shill for this project.

Nobody thinks you're shilling, relax.

Something doesn't feel right, I don't know what, but it's also related to the 2-year contract when you bought over cap and since its cap is unknown, this is a risk, as I've said, I need to have liquid currency for an upcoming venture capital.

You misunderstand.. your BNT won't be locked up if you invest after the hidden cap is reached. They simply say that IF the hidden cap is breached within the first hour, the extra ETH capital (not your BNT) will be distributed as follows:
- 20% to BNT Ether reserve
- 80% will be locked in a smart contract for 2 years and used to buy BNT if the price falls below the ICO price. After 2 years the remaining ETH will be distributed according the initial ICO terms.

This is advantageous to you as an ICO investor, minimizing the risk of the price falling below ICO price.

This is exactly what I'm afraid of, so instead of 'misunderstanding' as your interpretation, it's a positive affirmation on what I thought. Why? If the project doesn't succeed and/or fades away over time - for any reason - then:
a) 20% going to BNT Ether reserve is not a net benefit for me as an investor on the long term (2 year contract), other than pressure a price floor;
b) I get 80% of tokens I can't do anything with, because if it was a success, it wouldn't issue BTN.

So in conclusion, I lose 20% + 80% of what I could have invested/traded/speculated in 2 years time of my overinvestment by said use case or worse, lose everything. By seeing the interest in this project, the possibility to fulfill the one hour term is realistic, all the while carrying the risk of 2 years without compensation and being in the dark what the status is of funding.
Instead of cutting the losses on my own during this period, I've no choice but to see it all go in flames if the company is not operating anymore. Remember, this is an ICO, unlike IPO, it's unregulated without any insurance, you have no rights at all. It asks a lot of trust and what I've seen so far, is the most riskiest ico so far. To get at least the trust of investors, you have to show the cap and live update it as the funding goes from start to finish.

I've no problem to invest long term, but I want security in case something happens with the company when we're talking about large investments. That's what regulations are for. In my view, talking about large investments over 2 years time without any rights, you're out of your mind. This is the exact opposite of 'advantageous to you as an investor'. As for ICO investments: At least without this contract, you can short and cut your losses, not withstanding the lack of transparancy at the fundraising.

It's too bad, because the only crypto's I've seen so far with the greatest potential before they had manifested where Bitcoin, Ethereum, Stratis and now Bancor. The risk/reward is too high for me. Thanks again for clarifying my thoughts and feelings. It's clear as day now.

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[ngsg]

As promised, I'm back with my verdict if I'd invest or not based on my own sentiment and the answer is no. Another reason against the false assumption of a guy here on the forums accusing new accounts to shill for this project.

Nobody thinks you're shilling, relax.

Something doesn't feel right, I don't know what, but it's also related to the 2-year contract when you bought over cap and since its cap is unknown, this is a risk, as I've said, I need to have liquid currency for an upcoming venture capital.

You misunderstand.. your BNT won't be locked up if you invest after the hidden cap is reached. They simply say that IF the hidden cap is breached within the first hour, the extra ETH capital (not your BNT) will be distributed as follows:
- 20% to BNT Ether reserve
- 80% will be locked in a smart contract for 2 years and used to buy BNT if the price falls below the ICO price. After 2 years the remaining ETH will be distributed according the initial ICO terms.

This is advantageous to you as an ICO investor, minimizing the risk of the price falling below ICO price.

This is exactly what I'm afraid of, so instead of 'misunderstanding' as your interpretation, it's a positive affirmation on what I thought. Why? If the project doesn't succeed and/or fades away over time - for any reason - then:
a) 20% going to BNT Ether reserve is not a net benefit for me as an investor on the long term (2 year contract), other than pressure a price floor;
b) I get 80% of tokens I can't do anything with, because if it was a success, it wouldn't issue BTN.

So in conclusion, I lose 20% + 80% of what I could have invested/traded/speculated in 2 years time of my overinvestment by said use case or worse, lose everything. By seeing the interest in this project, the possibility to fulfill the one hour term is realistic, all the while carrying the risk of 2 years without compensation and being in the dark what the status is of funding.
Instead of cutting the losses on my own during this period, I've no choice but to see it all go in flames if the company is not operating anymore. Remember, this is an ICO, unlike IPO, it's unregulated without any insurance, you have no rights at all. It asks a lot of trust and what I've seen so far, is the most riskiest ico so far. To get at least the trust of investors, you have to show the cap and live update it as the funding goes from start to finish.

I've no problem to invest long term, but I want security in case something happens with the company when we're talking about large investments. That's what regulations are for. In my view, talking about large investments over 2 years time without any rights, you're out of your mind. This is the exact opposite of 'advantageous to you as an investor'. As for ICO investments: At least without this contract, you can short and cut your losses, not withstanding the lack of transparancy at the fundraising.

It's too bad, because the only crypto's I've seen so far with the greatest potential before they had manifested where Bitcoin, Ethereum, Stratis and now Bancor. The risk/reward is too high for me. Thanks again for clarifying my thoughts and feelings. It's clear as day now.

I say, out with old - in with the new! ICO will, undoubtedly, replace IPO in the foreseeable future and visionaries that understand the risk/ reward equation should be the only ones allowed in at this stage!

[Kazadar]

This is exactly what I'm afraid of, so instead of 'misunderstanding' as your interpretation, it's a positive affirmation on what I thought. Why? If the project doesn't succeed and/or fades away over time - for any reason - then:
a) 20% going to BNT Ether reserve is not a net benefit for me as an investor on the long term (2 year contract), other than pressure a price floor;
b) I get 80% of tokens I can't do anything with, because if it was a success, it wouldn't issue BTN.

So in conclusion, I lose 20% + 80% of what I could have invested/traded/speculated in 2 years time of my overinvestment by said use case or worse, lose everything. By seeing the interest in this project, the possibility to fulfill the one hour term is realistic, all the while carrying the risk of 2 years without compensation and being in the dark what the status is of funding.
Instead of cutting the losses on my own during this period, I've no choice but to see it all go in flames if the company is not operating anymore. Remember, this is an ICO, unlike IPO, it's unregulated without any insurance, you have no rights at all. It asks a lot of trust and what I've seen so far, is the most riskiest ico so far. To get at least the trust of investors, you have to show the cap and live update it as the funding goes from start to finish.

I've no problem to invest long term, but I want security in case something happens with the company when we're talking about large investments. That's what regulations are for. In my view, talking about large investments over 2 years time without any rights, you're out of your mind. This is the exact opposite of 'advantageous to you as an investor'. As for ICO investments: At least without this contract, you can short and cut your losses, not withstanding the lack of transparancy at the fundraising.

It's too bad, because the only crypto's I've seen so far with the greatest potential before they had manifested where Bitcoin, Ethereum, Stratis and now Bancor. The risk/reward is too high for me. Thanks again for clarifying my thoughts and feelings. It's clear as day now.

Its not 80% your tokens that will be locked. Its 80% of Bancors ETH over the cap that will be locked.

[CrowInACrown]

So just to summarise, if anyone could confirm:

- if the ICO sells out and hardcap is reached, initial market cap with the current ETH price will be 640 million USD

- there is additional hidden cap, that when exceeded, will result in 80% of additional funds to be placed in a special contract that first people to do this will be able to use to withdraw their investment, but only the fastests will benefit this

- 20% is for bounties or 1% is for bounties?

- you can not move or sell your coins for couple of days after ICO, so it is not possible to sell and move your coins to another ICO

- are any big exchanges involved?

- some Bancor tokens will be given away for free?

[ZenFr]

So just to summarise, if anyone could confirm:

- if the ICO sells out and hardcap is reached, initial market cap with the current ETH price will be 640 million USD

- there is additional hidden cap, that when exceeded, will result in 80% of additional funds to be placed in a special contract that first people to do this will be able to use to withdraw their investment, but only the fastests will benefit this

- 20% is for bounties or 1% is for bounties?

- you can not move or sell your coins for couple of days after ICO, so it is not possible to sell and move your coins to another ICO

- are any big exchanges involved?

- some Bancor tokens will be given away for free?

All teses questions seems very interesting.
If the team can answer here, it's would be nice :-)

[Qiuyue201]

So just to summarise, if anyone could confirm:
- if the ICO sells out and hardcap is reached, initial market cap with the current ETH price will be 640 million USD

Correct, max coinmarketcap after the presale can be 640 million USD. Still lower than Stratis.

- there is additional hidden cap, that when exceeded, will result in 80% of additional funds to be placed in a special contract that first people to do this will be able to use to withdraw their investment, but only the fastests will benefit this

Correct, first people who use the contract will be guaranteed to be get back their ETH. The exact amount of ETH in this fund is unknown at this point and also we are not sure if it will be created, depends on the amount of ETH collected in the presale.

- 20% is for bounties or 1% is for bounties?

No worries, only about 1% is for current bounties, 20% is fund to be used for bounties later.

- you can not move or sell your coins for couple of days after ICO, so it is not possible to sell and move your coins to another ICO

Correct. It will be locked for couple of days to prevent flipping.

- are any big exchanges involved?

No, the whole point of Bancor is that you do not need exchanges. You can buy (or sell) Bancor from the contract also after the ICO and not only during the ICO. The price during the ICO is one, but the price after the ICO will depend on the amount of people selling/buying. If more people want to buy than sell, the price will go up. If more people want to sell after the crowdsale than buy, the price will go down.

- some Bancor tokens will be given away for free?

Yes, you will be able to grab lots of Bancor tokens after the ICO too. For example about 250 000 USD worth of Bancor and ETH will be given away to Wings holders. People who bought Wings are trying to forecast the Bancor ICO and average payout per Wings shareholder is 1000 USD worth of tokens, so it is very profitable.

[2bfree]

So how much ETH do we need ready to get into this and what's the price?

[duke944]

So how much ETH do we need ready to get into this and what's the price?

As much as you are willing to risk, and 100 bnc for 1 eth.
Btw, why is the cap hidden? what's to prevent the team from changing the cap during the ico to whatever comes in?
Seriously, what is the purpose of hiding the cap from investors until it is 80% reached?

[omorfi]

I like the new bancor platform demo v1.2 interface. "Log in" options within facebook messenger, telegram and wechat are very useful. Very easy to access. Well done devs..

[TimeHacker]

- 20% is for bounties or 1% is for bounties?

No worries, only about 1% is for current bounties, 20% is fund to be used for bounties later.

So what kind of bounties are you planning for the future? Are the current translation bounties and social media and bitcointalk signature campaigns goin to continue, or do you think of something completely different?

[kjn311]

How is Bancor avoiding the SEC? Will the product not be available in the US?

[capone1340]

How is Bancor avoiding the SEC? Will the product not be available in the US?

for Sure no

[Razaberry]

Bernard Lietaer (co-architect of Euro) Joins Bancor Protocol

https://blog.bancor.network/bernard-lietaer-joins-bancor-protocol-foundation-as-chief-monetary-architect-2ff9d06e8e01

[Razaberry]

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.

What monthly fee?

Bancor will require a monthly fee for users that opt out of BNT as a reserve in their smart tokens. Details unclear as of now.

Where do yo get that? Eyal mention about fee, never heard him saying monthly fee.
And razaberry is one of the team.

Yeah, there's no fee like that.

[ngsg]

You wouldn't believe what I just found - Bancor Network BNT to Bitcoin BTC Exchange / HitBTC is already trading at 30% up - wtf (........ and that's even before the start of their ICO)/

https://hitbtc.com/exchange/BNT-to-BTC

[fatma88]

You wouldn't believe what I just found - Bancor Network BNT to Bitcoin BTC Exchange / HitBTC is already trading at 30% up - wtf (........ and that's even before the start of their ICO)/

https://hitbtc.com/exchange/BNT-to-BTC

Amazing - the ICO is still Monday at 10GMT - right?

[seek4dream]

You wouldn't believe what I just found - Bancor Network BNT to Bitcoin BTC Exchange / HitBTC is already trading at 30% up - wtf (........ and that's even before the start of their ICO)/

https://hitbtc.com/exchange/BNT-to-BTC

That is their usual practice.
check https://hitbtc.com/exchange/PTOY-to-BTC  for example

[AmarO]

You wouldn't believe what I just found - Bancor Network BNT to Bitcoin BTC Exchange / HitBTC is already trading at 30% up - wtf (........ and that's even before the start of their ICO)/

https://hitbtc.com/exchange/BNT-to-BTC

Amazing - the ICO is still Monday at 10GMT - right?

You wouldn't believe what I just found - Bancor Network BNT to Bitcoin BTC Exchange / HitBTC is already trading at 30% up - wtf (........ and that's even before the start of their ICO)/

https://hitbtc.com/exchange/BNT-to-BTC

Another newbie account with a history of all Bancor accounts spreading propaganda. HITBTC manipulates prices for every ICO buying and selling themselves. I bought some BOS for .05c ICO and now they have it at $2.50 last time I checked which is a scam. When it gets on exchange in October it will be .20-.50c.

Could you both stop the marketing propaganda I don't know how affiliated you guys are with Bancor and don't want to go down that road but come on...

[noeeel]

I made a meme

[Racooma]

we're watching this one over at WINGS Foundation

I watched this video on YouTube. -> https://www.youtube.com/watch?v=XOekWq9CzuU

I'm looking forward to seeing the future of Bancor.

Regards,