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

[TheMilkman]

Right now no one of us knows what the hard cap for this project but we have some hints to understand if we look at them. It was said that even if all the tokens will get sold in matter of minutes then too crowdfunding will last for at least an hour. This tells one thing that the total number of tokens is reasonable and realistic which can be sold out within hours.

We know the hard cap. It is right in the code. You can find it here.
https://etherscan.io/address/0xBbc79794599b19274850492394004087cBf89710


uint256 public totalEtherCap = 1000000 ether; 

It means the cap is 1 million ether, 390 millioon USD, with marketcap of 780 000 000 USD.

[1713258984]

1713258984

[1713258984]

1713258984

[1713258984]

1713258984

[1713258984]

1713258984

[avadhoot]

Ask on ICO Forum to fellow investors: http://icoforum.herokuapp.com

I'm new to Etherium and using the Mist wallet.  I'd like to participate in this Bancor ICO, but I don't think this wallet has a way to set the Gas Limit which Bancor says is required to be 200,000.  The Mist wallet doesn't seem to display Gas anywhere let alone give me a way to set it.  I'm sure the command line does, but I'm not comfortable enough to use that.  Should I just ignore that requirement and hope for the best?

[whale123]

This has one of the most profitable bounty programs in the history of crypto. The translations only would give you up to 390 000 USD to split between about twenty countries giving about 20 000 USD bounties per head if the max cap is reached!

[john312]

This has one of the most profitable bounty programs in the history of crypto. The translations only would give you up to 390 000 USD to split between about twenty countries giving about 20 000 USD bounties per head if the max cap is reached!

Indeed it is one of the most profitable bounty programs. Signature bounties are not bad too.

[Qiuyue201]

What is it with the stupid people on Slack talking about a buyback policy and thinkign they will be able to sell their coins back for the same amount after the ICO?

Do people even read?

It does not work like that. The ICO lasts until the cap is reached. IF THERE ARE ANY EXCESS FUNDS above the cap, SOME OF THOSE FUNDS will be placed in a contract where FIRST PEOPLE ONLY will be able to sell their coins.

There is also main Bancor contract where you can sell but only THE FIRST PERSON will get the same ratio as during the ICO, others will be getting the price lower and lower, depending on how many people and how much Bancor will be dumped.

Some people lack basic logic.

[Freaks]

I also this FOMO is real with this ICO we will see really big amount at the end of this crowdsale. Time is passing away so we are getting close to make invest into this mega project just waiting to see what fun this will bring.

[john312]

Promote this coin guys! The ICO starts soon! The more we promote it, the bigger our bounties will be!

[Freaks]

Promote this coin guys! The ICO starts soon! The more we promote it, the bigger our bounties will be!

This project has real hype all around the world so good luck for your efforts this will become biggest ICO in the history of cryptocurrency.

[XCNP]

Once the ICO start everyone will be putting his money into without remaining behind. There is real fomo about this project. It is possible to see making Bancor new history in the cryptocurrencies with largest money raising if all is true and get completed.

[atchoum6760]

 In my etherwallet l need to add BNT manually before y can see it or it's automatic ?

[gamer455]

Is it actually good to have the biggest crypto fundraising?

Honestly, when thousands of BTC are invested in it, it only means that at the very first day of coin distribution, everybody will dump. Especially if the coin distribution is only days after ICO end.

[inck]

I'm really excited how much coins BANCOR will collect in a few hours. 

[scribbles]

I'm really excited how much coins BANCOR will collect in a few hours. 

Probably a lot, but that is all ok. Whales won't be able to steal the pie (isn't that what cryptocurrency is all about?) and the value the Bancor token won't deflate due to a buy smart contract the Bancor Foundation has made. All in all, excited!

[john312]

Is it actually good to have the biggest crypto fundraising?

Honestly, when thousands of BTC are invested in it, it only means that at the very first day of coin distribution, everybody will dump. Especially if the coin distribution is only days after ICO end.

For bounty hunters it is.

[mamaya]

Is it actually good to have the biggest crypto fundraising?

Honestly, when thousands of BTC are invested in it, it only means that at the very first day of coin distribution, everybody will dump. Especially if the coin distribution is only days after ICO end.

For bounty hunters it is.

Well its a good thing bancor has given a very small proportion to bounty hunters, the typical bounties like your signature campaign only receive 0.2%. A lot of people misunderstood their 20% for bounties, partnerships and grants as being all of the money given to bounties.

[scribbles]

Is it actually good to have the biggest crypto fundraising?

Honestly, when thousands of BTC are invested in it, it only means that at the very first day of coin distribution, everybody will dump. Especially if the coin distribution is only days after ICO end.

The crowd Bancor wishes to attract are those that understand the platform, and participate in it. This fundraiser model is used to remove the incentive of a quick pump(large buy) and dump scheme which we see in a lot of ICO's of late (f.e. BAT).

It means a lot to me Bancor recognizes this problem and takes action (based on community ideas and wished!!)

[mcfom]

I'm really excited how much coins BANCOR will collect in a few hours. 

Everybody is feeling exciting today because of this ICO which is going to happen after few hours. On social media platform big giant of crypto market are talking about this project which reflect on ETH price too how it going to the moon so that I also quite sure this will amazing ICO.

[monarx911@i.ua]

I congratulate everyone! Today is a great day!

[Dvd1989]

How fast do you think the 350 000 000 cap is reached?

tell me when, in crypto history, someone raised just half of this amount  

Everyone wants in. This cap will be reached easily in the first 30 minutes. TheDAO rises half of this amount and Ethereum was like 36x cheaper back then, so in terms of ETH collected TheDAO has risen even more.

You should look at USD price, not at quantity of ETH.


..i'm saying this, but i'm going to invest in this ico, just to clarify  

Most people do not look at USD price. We simply hold some amount of ETH and will invest some of it no matter if the price is X or Y. Someone decided to send 50 ETH, someone 5 and someone 500 and how it is priced that day is not that important. I think devs understand that and that's why it is capped in ETH and not in USD.

actually if 1 eth is $6 usd vs 1 eth being $364 usd is a huge difference and people look at the price in USD...If 1 eth is $50,000 usd would Bancor still ask for $500 per coin? Is 1 of their coin worth $500 usd then...

This 100 per eth ratio is not smart move for investors. It needs to be at least 500 - 1000 while ethereum is trading at $360 usd. Buying in a 50 cents and below is not bad.. it is not smart to price these coins so high at $3.60 USD initially because investors can get burned. You should be looking out for investors because you will be able to fund yourself the same rather or not you give out 100 coins vs 500 per eth.

1 BNT = 3.5$ (350 Mil. USD market Cap) looks like a good deal only for Bancor team to buy in ICO themselves and dump on sheep for quick money.

Yes BANCOR Please justify your coin being worth $3.60 USD each. You are not giving investors a good deal at $3.60 per coin. You can raise same amount of cash and have same amount of coins in circulation if you gave investors 500-1000 coins per ethereum vs 100 per eth. And you could limit investment risk. A good ratio would be 50 cents per coin anything over that is simply greed and risky investment and not a smart move for a crowdsale. The crowdsale manager already shows he is not smart about finding a common ground for investors and the company. It favors the company vs the shareholder.

It is 3,8 USD today.
It was 2,5 USD if you bought via Bitcoinsuisse.
Instant profit.

Can you explain this? People who bought via Bitcoinsuisse also pay 1 eth for 100 BNC right? They even pay an extra fee of approximately 100 euro fixed and 1,5%.

The only difference is when the investor bought his/her Ether.

Another question: will Bancor react to the right price of Ethereum at the moment? Of will they keep giving 100 bancor for 1 eth?

[ZenFr]

Another question: will Bancor react to the right price of Ethereum at the moment? Of will they keep giving 100 bancor for 1 eth?

Bancor ICO is at the constant rate of 100 bancor for 1 ethereum.