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

[Odeoke]

GUY BEWARE SCAM WEBSITE
http://bancor.technology/fundraiser

DONT PLACE YOUR FUND IN THIS WEBSITE.
THAT NOT AN OFFICIAL WEBSITE

https://www.reddit.com/r/Bancor/comments/6gk6tt/i_got_scammed_20_eth_do_not_give_money_to_this/

Spread it!

Thanks a lot for sharing this with us this would be very helpful for all community.

[1713418135]

1713418135

[1713418135]

1713418135

[Alfred Hard]

GUY BEWARE SCAM WEBSITE
http://bancor.technology/fundraiser

DONT PLACE YOUR FUND IN THIS WEBSITE.
THAT NOT AN OFFICIAL WEBSITE

https://www.reddit.com/r/Bancor/comments/6gk6tt/i_got_scammed_20_eth_do_not_give_money_to_this/

Spread it!

Poor guy.

There is no way to report something like this to the authorities from, idk, anywhere? The interpol or something like that? Something like this has to be persecuted by justice somehow and that website should be shut down asap.

[pwpwpw]

No matter how bad the terms are, people will buy into this anyway.

Ya that how it goes. As long as u will do money with that.....people will invest in this ico. Every ICO Project this years started with x2 and more on the exchange. Noone will sell his coins less then ico price. You will do always some money with legit/good ico projects

I was too lazy to check out the team until now but as I see, nobody cares here, so here's my question about the developer team. I hope some people will read this.

Yehuda Levi - CTO - CoFounder Appcoin, 3years 9mo. When you go to Appcoins, it has no detail at all, not even a website, what did he do for almost 4 years ?
Mati Levi - QA Engineer - 3 years at Appcoin. Same thing, what did he do ?
Omry Rosenfeld - Frondend developer 1year 5mo, same question.
Assaf Rachman - Full stack developer at Appcoin. same question
Or Bachar - Web developer at Marketspulse for 2years 1mo. Here's the site. http://www.marketspulse.com/ It does not even have a single link in it. Could have been a bare picture with text. This was his work for 2 years ?
Itay Dreyfus - UX/UI Designer for 5months at Appcoin but he links group.market app.

These are the devs. Now I'm really curious what did they do at appcoin, all I could find was https://bitcointalk.org/index.php?topic=475160.0 It's a scamcoin from 2014 and https://www.appcoin.me/ UX/UI DESIGNER open position, no links.

Yes Appcoin seems to be scam/ project suspended. But Itay left that company. In most of the cases the UI/UX ,Developers dont even know if they are working for a scam project.
But involvment of Yehuda as CTO is strange.

I have no idea why nobody cares about the dev team.. I wanted to invest like 20-30 eth in this but there are just too many unanswered questions that makes the whole thing fishy. People's logic is something like this : every ICO will at least 2x and noody sells under ICO so let's invest. But they only see the winning ICOs, the majority fails. Now this will be bought in 1hour I'm sure of that so it might make profit anyway and that is pretty dangerous in the long run, it teaches people to lose their common sense/logic and throw money at everything new..(this is kinda happening all year with ICOs)

[Lankster]

No matter how bad the terms are, people will buy into this anyway.

Ya that how it goes. As long as u will do money with that.....people will invest in this ico. Every ICO Project this years started with x2 and more on the exchange. Noone will sell his coins less then ico price. You will do always some money with legit/good ico projects

I was too lazy to check out the team until now but as I see, nobody cares here, so here's my question about the developer team. I hope some people will read this.

Yehuda Levi - CTO - CoFounder Appcoin, 3years 9mo. When you go to Appcoins, it has no detail at all, not even a website, what did he do for almost 4 years ?
Mati Levi - QA Engineer - 3 years at Appcoin. Same thing, what did he do ?
Omry Rosenfeld - Frondend developer 1year 5mo, same question.
Assaf Rachman - Full stack developer at Appcoin. same question
Or Bachar - Web developer at Marketspulse for 2years 1mo. Here's the site. http://www.marketspulse.com/ It does not even have a single link in it. Could have been a bare picture with text. This was his work for 2 years ?
Itay Dreyfus - UX/UI Designer for 5months at Appcoin but he links group.market app.

These are the devs. Now I'm really curious what did they do at appcoin, all I could find was https://bitcointalk.org/index.php?topic=475160.0 It's a scamcoin from 2014 and https://www.appcoin.me/ UX/UI DESIGNER open position, no links.

Yes Appcoin seems to be scam/ project suspended. But Itay left that company. In most of the cases the UI/UX ,Developers dont even know if they are working for a scam project.
But involvment of Yehuda as CTO is strange.

I have no idea why nobody cares about the dev team.. I wanted to invest like 20-30 eth in this but there are just too many unanswered questions that makes the whole thing fishy. People's logic is something like this : every ICO will at least 2x and noody sells under ICO so let's invest. But they only see the winning ICOs, the majority fails. Now this will be bought in 1hour I'm sure of that so it might make profit anyway and that is pretty dangerous in the long run, it teaches people to lose their common sense/logic and throw money at everything new..(this is kinda happening all year with ICOs)

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

[520Bit]

An interesting read for most people in this thread: Vitalik Buterin's objective analysis on token sale models in general. (Not specifically about the Bancor ICO, but mentioned several times as an example)

http://vitalik.ca/general/2017/06/09/sales.html

Yes. I think below statement is very important for Bancor fundraiser.

Bancor, which recently agreed (https://blog.bancor.network/the-community-of-the-currency-9770087fde17) to put all funds raised over a cap into a market maker which will maintain price stability along with maintaining a price floor of 0.01 ETH. These funds cannot be removed from the market maker for two years.

Which means if you decide to invest Bancor, you agree that you will hold it for a long term investment.

[The Goat Master]

An interesting read for most people in this thread: Vitalik Buterin's objective analysis on token sale models in general. (Not specifically about the Bancor ICO, but mentioned several times as an example)

http://vitalik.ca/general/2017/06/09/sales.html

Than you I missed that.
Vtalik tweet a lot last ICOs but this blog post was needed 

[zerofive]

not understand how it works

[burner2015]

An interesting read for most people in this thread: Vitalik Buterin's objective analysis on token sale models in general. (Not specifically about the Bancor ICO, but mentioned several times as an example)

http://vitalik.ca/general/2017/06/09/sales.html

Yes. I think below statement is very important for Bancor fundraiser.

Bancor, which recently agreed (https://blog.bancor.network/the-community-of-the-currency-9770087fde17) to put all funds raised over a cap into a market maker which will maintain price stability along with maintaining a price floor of 0.01 ETH. These funds cannot be removed from the market maker for two years.

Which means if you decide to invest Bancor, you agree that you will hold it for a long term investment.

Pls explain what I understand is only the coins over the CAP?

[BWH1984]

An interesting read for most people in this thread: Vitalik Buterin's objective analysis on token sale models in general. (Not specifically about the Bancor ICO, but mentioned several times as an example)

http://vitalik.ca/general/2017/06/09/sales.html

Yes. I think below statement is very important for Bancor fundraiser.

Bancor, which recently agreed (https://blog.bancor.network/the-community-of-the-currency-9770087fde17) to put all funds raised over a cap into a market maker which will maintain price stability along with maintaining a price floor of 0.01 ETH. These funds cannot be removed from the market maker for two years.

Which means if you decide to invest Bancor, you agree that you will hold it for a long term investment.

That is not what it means, your BNT will be liquid and tradable. The raised ETH capital that will be collected in the minimum hour which exceed the hidden cap is distributed as follows:
- 20% will be allocated to the BNT Ether Reserve.
- 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.

They wrote a separate article on this on their blog: https://blog.bancor.network/the-community-of-the-currency-9770087fde17

[AlteregoX]

What is the difference between bancor and NVO?

[Alfred Hard]

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

And you told me that you expected to earn a x10 or a x20 of the money you were going to invest... XD

I was really hyped for this when I initially read about it, but after reading so many people talking about how dangerous could be to invest on this... Idk, the people behind Bancor have explained how they expect to have some control over the potential devaluation after the ICO, but it doesn't look like they have convinced everybody and this is coming tomorrow, not sure if there is time to explain a little bit better how this could be a potentially good investment/project.

I'll keep an eye in tomorrow's ICO and will check what everybody says here, I'm really curious to see if this will be a succes or a total disaster.

[AmarO]

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

And you told me that you expected to earn a x10 or a x20 of the money you were going to invest... XD

I was really hyped for this when I initially read about it, but after reading so many people talking about how dangerous could be to invest on this... Idk, the people behind Bancor have explained how they expect to have some control over the potential devaluation after the ICO, but it doesn't look like they have convinced everybody and this is coming tomorrow, not sure if there is time to explain a little bit better how this could be a potentially good investment/project.

I'll keep an eye in tomorrow's ICO and will check what everybody says here, I'm really curious to see if this will be a succes or a total disaster.

Dev team has no skin in the game, as in you'd like to see devs have more coins and less ETH funds. They're taking more ETH funds but keeping less coin, not a good look imo.

[whatsTheDeal]

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

And you told me that you expected to earn a x10 or a x20 of the money you were going to invest... XD

I was really hyped for this when I initially read about it, but after reading so many people talking about how dangerous could be to invest on this... Idk, the people behind Bancor have explained how they expect to have some control over the potential devaluation after the ICO, but it doesn't look like they have convinced everybody and this is coming tomorrow, not sure if there is time to explain a little bit better how this could be a potentially good investment/project.

I'll keep an eye in tomorrow's ICO and will check what everybody says here, I'm really curious to see if this will be a succes or a total disaster.

Dev team has no skin in the game, as in you'd like to see devs have more coins and less ETH funds. They're taking more ETH funds but keeping less coin, not a good look imo.

the devs dont get any ETH from what i saw? they get 10% of BNT but all the ETH goes to the foundation for various stuff they showed a pie chart

[Shahrul09]

An interesting read for most people in this thread: Vitalik Buterin's objective analysis on token sale models in general. (Not specifically about the Bancor ICO, but mentioned several times as an example)

http://vitalik.ca/general/2017/06/09/sales.html

Yes. I think below statement is very important for Bancor fundraiser.

Bancor, which recently agreed (https://blog.bancor.network/the-community-of-the-currency-9770087fde17) to put all funds raised over a cap into a market maker which will maintain price stability along with maintaining a price floor of 0.01 ETH. These funds cannot be removed from the market maker for two years.

Which means if you decide to invest Bancor, you agree that you will hold it for a long term investment.

You totally got it wrong buddy, try to read and digest it properly.  Nobody investment gonna get locked up.

[Shahrul09]

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

And you told me that you expected to earn a x10 or a x20 of the money you were going to invest... XD

I was really hyped for this when I initially read about it, but after reading so many people talking about how dangerous could be to invest on this... Idk, the people behind Bancor have explained how they expect to have some control over the potential devaluation after the ICO, but it doesn't look like they have convinced everybody and this is coming tomorrow, not sure if there is time to explain a little bit better how this could be a potentially good investment/project.

I'll keep an eye in tomorrow's ICO and will check what everybody says here, I'm really curious to see if this will be a succes or a total disaster.

Dev team has no skin in the game, as in you'd like to see devs have more coins and less ETH funds. They're taking more ETH funds but keeping less coin, not a good look imo.

They only get 10% and other for development stuff. You expect the devs to work for free?
Diff ico have diff model. You cant expect this ico gonna be same like others.


And how your fud thread going on?

[BWH1984]

No matter how bad the terms are, people will buy into this anyway.

Ya that how it goes. As long as u will do money with that.....people will invest in this ico. Every ICO Project this years started with x2 and more on the exchange. Noone will sell his coins less then ico price. You will do always some money with legit/good ico projects

I was too lazy to check out the team until now but as I see, nobody cares here, so here's my question about the developer team. I hope some people will read this.

Yehuda Levi - CTO - CoFounder Appcoin, 3years 9mo. When you go to Appcoins, it has no detail at all, not even a website, what did he do for almost 4 years ?
Mati Levi - QA Engineer - 3 years at Appcoin. Same thing, what did he do ?
Omry Rosenfeld - Frondend developer 1year 5mo, same question.
Assaf Rachman - Full stack developer at Appcoin. same question
Or Bachar - Web developer at Marketspulse for 2years 1mo. Here's the site. http://www.marketspulse.com/ It does not even have a single link in it. Could have been a bare picture with text. This was his work for 2 years ?
Itay Dreyfus - UX/UI Designer for 5months at Appcoin but he links group.market app.

These are the devs. Now I'm really curious what did they do at appcoin, all I could find was https://bitcointalk.org/index.php?topic=475160.0 It's a scamcoin from 2014 and https://www.appcoin.me/ UX/UI DESIGNER open position, no links.

Yes Appcoin seems to be scam/ project suspended. But Itay left that company. In most of the cases the UI/UX ,Developers dont even know if they are working for a scam project.
But involvment of Yehuda as CTO is strange.

I have no idea why nobody cares about the dev team.. I wanted to invest like 20-30 eth in this but there are just too many unanswered questions that makes the whole thing fishy. People's logic is something like this : every ICO will at least 2x and noody sells under ICO so let's invest. But they only see the winning ICOs, the majority fails. Now this will be bought in 1hour I'm sure of that so it might make profit anyway and that is pretty dangerous in the long run, it teaches people to lose their common sense/logic and throw money at everything new..(this is kinda happening all year with ICOs)

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

Is there any proof of appcoin being a scam other than some forum speculating about it? Looks like it was simply an unsuccessful project. They are even open about it in at least one interview, saying "many of the appcoin team now works on Bancor". Having a failed project is not necessarily a bad thing, can be good, as long as they learned from it.

[BWH1984]

FOMO at its finest. I was going to throw most of my liquidity into this project but now I'm toning it back.

And you told me that you expected to earn a x10 or a x20 of the money you were going to invest... XD

I was really hyped for this when I initially read about it, but after reading so many people talking about how dangerous could be to invest on this... Idk, the people behind Bancor have explained how they expect to have some control over the potential devaluation after the ICO, but it doesn't look like they have convinced everybody and this is coming tomorrow, not sure if there is time to explain a little bit better how this could be a potentially good investment/project.

I'll keep an eye in tomorrow's ICO and will check what everybody says here, I'm really curious to see if this will be a succes or a total disaster.

Dev team has no skin in the game, as in you'd like to see devs have more coins and less ETH funds. They're taking more ETH funds but keeping less coin, not a good look imo.

They only get 10% and other for development stuff. You expect the devs to work for free?
Diff ico have diff model. You cant expect this ico gonna be same like others.


And how your fud thread going on?

And that 10% is BNT.  What ETH are you talking about, Amar0?

[Ano]

every project is crazy.

This is era of ICOs so we can expect any kind of result now. I also think this will get funded with huge amount this has so high hype at the moment all are waiting to buy in.

[stefanoste]

An interesting read for most people in this thread: Vitalik Buterin's objective analysis on token sale models in general. (Not specifically about the Bancor ICO, but mentioned several times as an example)

http://vitalik.ca/general/2017/06/09/sales.html

Yes. I think below statement is very important for Bancor fundraiser.

Bancor, which recently agreed (https://blog.bancor.network/the-community-of-the-currency-9770087fde17) to put all funds raised over a cap into a market maker which will maintain price stability along with maintaining a price floor of 0.01 ETH. These funds cannot be removed from the market maker for two years.

Which means if you decide to invest Bancor, you agree that you will hold it for a long term investment.

You totally got it wrong buddy, try to read and digest it properly.  Nobody investment gonna get locked up.

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

"Ok so let's give the information as reported on communication as well as the term of sale

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."

And from Term of sale
https://blog.bancor.network/bancor-network-token-bnt-contribution-token-creation-terms-48cc85a63812

"Terms Summary:
50/20/20/10 Token Distribution: 50% of BNT will be issued to the contributors in the fundraiser, 20% allocated to partnerships, community grants and public bounties, 20% to the Foundation’s long-term operating budget, 10% to founders, team members, advisors and early contributors. Founders and team contributors will be subject to a three year vesting schedule.
Fixed Price: 0.01 ETH per 1 BNT (i.e. 100 BNT per 1 ETH)
Hidden ETH Cap: revealed if 80% of the cap is reached.
Duration: The fundraiser will run for 14 days or until the hidden cap is reached, with a 1 hour minimum time.
How minimum time works? Read this: https://goo.gl/1lL0NY
Token Availability: BNT for ETH contributions will be distributed immediately. The ability to transfer, purchase and liquidate BNT through the smart token’s contract will be enabled gradually during a time span estimated at 7 days following the fundraiser closing.
Security: Funds will be held using multi-sig wallets according to industry best practices."

What is " three year vesting schedule."??

[UMadorMyrin]

Changing the pre-established time to rake in more money from Americans is absolutely ridiculous. Why set the original time in the first place?? Scammy look all the way around