Anarchy101
Legendary
 Offline
Activity: 1316
Merit: 1004
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June 13, 2017, 03:50:04 PM |
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Anyone else having trouble logging in to the bounty portal? Every time I try to log in I am getting following "There was an internal error, please try again!"
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martinyin
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June 13, 2017, 03:55:09 PM |
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Anyone else having trouble logging in to the bounty portal? Every time I try to log in I am getting following "There was an internal error, please try again!"
It's closed. |
Am I spamming? Report me!
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anirgu
Legendary
Offline
Activity: 1148
Merit: 1000
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June 13, 2017, 03:59:54 PM |
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Social Media Bounty Rules:
- Do NOT spam. This will result in disqualification.
- Report your contributions honestly. We will randomly check accounts.
- All Zuks = 0.2% of the total supply of BANCOR at the end of the fundraiser.
0,2% from a sum will be considered? sum 39.6M BNT FUNDRAISER TOKEN ALLOCATION 79.3M TOTAL BNT SUPPLY?
This looks to be like a hell of money being spent for bounty and this will result in investors losing out their value of token. Would like to see a response from team on this situation. |
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yvv
Legendary
Offline
Activity: 1344
Merit: 1000
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June 13, 2017, 04:05:57 PM |
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I will just start boldly. The Bancor business model is pretty close to a scam. I am sure you will not take my word for it, because this is my first post. In fact, I made this account because I find it bizarre that no one is talking about this. Let's be honest, which one of you truly tried to comprehend their mathematical proof? Not a single person who invested at least, because otherwise they would not have wasted their money. I will try to explain a little. They collected pretty close to 400k ether. Essentially what they do, is keep .8*400k ETH = 320k ETH to themselves, and call the remaining 80k reserves. They will express this 80k in a different coin, called BNT. They assign 100 BNT to 1ETH that they received. That means there is 500BNT for every 1ETH in the reserves. Essentially, if everyone would want to convert their BNT back to ETH, they would get 1/500 ETH per BNT. Wait you say, in the white paper it says that the starting price of 100BNT will equal 1 ETH! This is true, this is where the mathematics uses a trick to hide what is going on. Their pricing formula, P=R/(S*F) ensures that the first BNT sold will be sold at a 'fair' value, namely equal to the amount of ETH you spent to buy it in the first place. After the first sell, things get worse rather quickly. Let's illustrate this by a little example: Lets say that 10% of people who own BNT sell it back to ETH via the smart contract. For the initial price we get: P = 80k/(40m*.2) = 0.01. All looks fair. Then after the sell we get 40m*10%*0.01 = 40k, P = 80k-40k/((40m-4m)*0.20) = 0,00556. Ouch, the price almost dropped to half value from the 10% sell-off (this is different if there are many small transactions but I will get to that later). If people buy the same amount of BNT, this is what happens: P = 120k/(44m*0.20) = 0.01364. The increase in price is not nearly as interesting for the next person. But again, this will be lower for many small transactions. I created a plot assuming transactions are made in small batches of BNT coins. We find that the BNT value drop VERY quickly when people start selling, and does not rise nearly as fast. Essentially this just makes BNT an undesirable coin. Another weird thing about their system is that it does not consider convexity. This means that big transactions will get very different prices than many small ones. This just does not make sense, but they don't care as they simply took your money. http://imgur.com/a/f9yLyIf you are still not convinced, consider this. They literally admit to taking 80% of your money. All they give back is some mathematical trick based on 20% of the ether that you gave them. Do you really believe they just generated x5 value out of thin air? Sorry, but math does not work that way. I would recommend getting rid of your BNT asap, or you end up all the way on the left side of the graph. I am sorry that this news comes a bit late for some of you... I didn't read their methodology until last night Sad Maybe now you can start to add up why the ICO was strange in various ways. As final words, don't just believe whatever I say. Think about it for yourself. I gain nothing by convincing you of whatever I write here, I am simply sharing thoughts. BNT is reserved by ETH at only 10% reserve ratio, not 20%. And a big transaction get the same price as many small ones, this is how their price discovery formula works. But you are right that BNT price is going drop very quickly when people start selling. |
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Snail2
Legendary
Offline
Activity: 1512
Merit: 1000
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June 13, 2017, 04:06:10 PM |
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Anyone else having trouble logging in to the bounty portal? Every time I try to log in I am getting following "There was an internal error, please try again!"
No, everything looks fine for me. After reading here about the login issues I've tested it, but as I said it's working for me. |
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easyrimka
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June 13, 2017, 04:19:37 PM |
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nobody can tell its scam or not, there is suspicious things and some good things. for the moment, all investors are waiting for the next step . In my case, i didnt invest because of the hype and i was not sure its a good project. what i am sure, its that bancor will stay in the history, for good or bad, i dont know, we will see the answer soon
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yvv
Legendary
Offline
Activity: 1344
Merit: 1000
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June 13, 2017, 04:26:08 PM |
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I heard about this project today, I signed up for the telegram, but it's giving a mistake! And why is there rumors that Bancor is SCAM? Did the delays of the ETH network provide such subjects?
It is not a scam, but this project has its caveats which many of those who call themselves "investors" don't understand. Shortly speaking, this is a very badly overvalued project. |
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TimeHacker
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June 13, 2017, 04:28:59 PM |
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Anyone else having trouble logging in to the bounty portal? Every time I try to log in I am getting following "There was an internal error, please try again!"
No, everything looks fine for me. After reading here about the login issues I've tested it, but as I said it's working for me. Hm, it's weird. When I log in, e.g. with Messenger, I get redirected to Messenger, but I'm still not logged in at the Bancor network app. I tried it at 2 diffferent computers and it's the same. |
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yoo10
Member
Offline
Activity: 88
Merit: 10
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June 13, 2017, 04:41:32 PM |
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I will just start boldly. The Bancor business model is pretty close to a scam. I am sure you will not take my word for it, because this is my first post. In fact, I made this account because I find it bizarre that no one is talking about this. Let's be honest, which one of you truly tried to comprehend their mathematical proof? Not a single person who invested at least, because otherwise they would not have wasted their money. I will try to explain a little. They collected pretty close to 400k ether. Essentially what they do, is keep .8*400k ETH = 320k ETH to themselves, and call the remaining 80k reserves. They will express this 80k in a different coin, called BNT. They assign 100 BNT to 1ETH that they received. That means there is 500BNT for every 1ETH in the reserves. Essentially, if everyone would want to convert their BNT back to ETH, they would get 1/500 ETH per BNT. Wait you say, in the white paper it says that the starting price of 100BNT will equal 1 ETH! This is true, this is where the mathematics uses a trick to hide what is going on. Their pricing formula, P=R/(S*F) ensures that the first BNT sold will be sold at a 'fair' value, namely equal to the amount of ETH you spent to buy it in the first place. After the first sell, things get worse rather quickly. Let's illustrate this by a little example: Lets say that 10% of people who own BNT sell it back to ETH via the smart contract. For the initial price we get: P = 80k/(40m*.2) = 0.01. All looks fair. Then after the sell we get 40m*10%*0.01 = 40k, P = 80k-40k/((40m-4m)*0.20) = 0,00556. Ouch, the price almost dropped to half value from the 10% sell-off (this is different if there are many small transactions but I will get to that later). If people buy the same amount of BNT, this is what happens: P = 120k/(44m*0.20) = 0.01364. The increase in price is not nearly as interesting for the next person. But again, this will be lower for many small transactions. I created a plot assuming transactions are made in small batches of BNT coins. We find that the BNT value drop VERY quickly when people start selling, and does not rise nearly as fast. Essentially this just makes BNT an undesirable coin. Another weird thing about their system is that it does not consider convexity. This means that big transactions will get very different prices than many small ones. This just does not make sense, but they don't care as they simply took your money. http://imgur.com/a/f9yLyIf you are still not convinced, consider this. They literally admit to taking 80% of your money. All they give back is some mathematical trick based on 20% of the ether that you gave them. Do you really believe they just generated x5 value out of thin air? Sorry, but math does not work that way. I would recommend getting rid of your BNT asap, or you end up all the way on the left side of the graph. I am sorry that this news comes a bit late for some of you... I didn't read their methodology until last night Sad Maybe now you can start to add up why the ICO was strange in various ways. As final words, don't just believe whatever I say. Think about it for yourself. I gain nothing by convincing you of whatever I write here, I am simply sharing thoughts. BNT is reserved by ETH at only 10% reserve ratio, not 20%. And a big transaction get the same price as many small ones, this is how their price discovery formula works. But you are right that BNT price is going drop very quickly when people start selling. Yes. "The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. " Especial benefit the long-tail currencies. |
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jhenfelipe
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June 13, 2017, 04:42:32 PM |
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Social Media Bounty is now Closed. And it seems that those who submitted their weekly report later than June 12 will not get paid. As the Campaign Manager replied to the comments, the report needs to be submitted not sooner than a week started on the day the participant signed up (see screenshot of my application below)  As the image shown above, I applied 8 days ago (June 5 forum time), so my first report should not be submitted sooner than June 12. Since on June 12, their site wasn't accessible (app.bancor.network/), participants like me who supposedly submitting the reports haven't had the chance to submit (screenshot of another user with the same problem below):  I've seen one of the reply from the manager (stated about post later than June 12 - meaning will not get paid):  I don't think it should be like this. The manager was accepting participants until 3 days ago today (so it was June 10 forum time), and mentioned about weekly report (see screenshot below):  If he knew that it will end on June 12, why still accept? and why not post a new discussion on the bounty site to inform the participants? Tweets and other actions should be checked (the date) and pay those who qualified. Some just posted it late because of the Weekly report rule & inaccessible site during the time of submitting a report, but did finish the task ahead of time. Want to clarify it on the bounty site but it didn't allow me to sign in using telegram account (which I used before to sign up there), that's why I posted here. Thank you! PS. All screenshots was taken today |
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Mihawk
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June 13, 2017, 04:55:35 PM |
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Social Media Bounty Rules:
- Do NOT spam. This will result in disqualification.
- Report your contributions honestly. We will randomly check accounts.
- All Zuks = 0.2% of the total supply of BANCOR at the end of the fundraiser.
0,2% from a sum will be considered? sum 39.6M BNT FUNDRAISER TOKEN ALLOCATION 79.3M TOTAL BNT SUPPLY?
I'm unable to access the rewards page, do I need to send login information to you? Are you the campaign manager? What needs to be done? Is there a rumor that the campaign was closed? How will I know how many tokens I'll receive? |
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easyrimka
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June 13, 2017, 04:57:18 PM |
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@jhenfelipe lol, you are banned from their telegram ?? is it true ?
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Shahrul09
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June 13, 2017, 04:58:28 PM
Last edit: June 13, 2017, 05:38:47 PM by Shahrul09 |
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Social Media Bounty is now Closed. And it seems that those who submitted their weekly report later than June 12 will not get paid. As the Campaign Manager replied to the comments, the report needs to be submitted not sooner than a week started on the day the participant signed up (see screenshot of my application below) As the image shown above, I applied 8 days ago (June 5 forum time), so my first report should not be submitted sooner than June 12. Since on June 12, their site wasn't accessible (app.bancor.network/), participants like me who supposedly submitting the reports haven't had the chance to submit (screenshot of another user with the same problem below): I've seen one of the reply from the manager (stated about post later than June 12 - meaning will not get paid): I don't think it should be like this. The manager was accepting participants until 3 days ago today (so it was June 10 forum time), and mentioned about weekly report (see screenshot below): If he knew that it will end on June 12, why still accept? and why not post a new discussion on the bounty site to inform the participants? Tweets and other actions should be checked (the date) and pay those who qualified. Some just posted it late because of the Weekly report rule & inaccessible site during the time of submitting a report, but did finish the task ahead of time. Want to clarify it on the bounty site but it didn't allow me to sign in using telegram account (which I used before to sign up there), that's why I posted here. Thank you! PS. All screenshots was taken today No. Manager wont know when the campaign gonna stop. The rules posted, since day one stated that the campaign will end at 30th june or when ico end, which ever that come first. So no, he didnt know if it will end one 12th june or not. But its fair what he did. Closed it at ico according the rule And its already mention by manager when you all signup in beginning that you will be paid weekly, not daily.Like the last picture there you post. Its clearly say there. 'reports are submitted weekly. sicne everyon signed up on different dates, unfortunately some people will not be elidgable to submit their next report if the fundraiser has ended before their next weeks report is due' P/s : and i saw that you already got your reward after argue with manager Post all the rules that he mention also in your comment. |
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matsud2
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June 13, 2017, 05:01:25 PM |
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Anyone else having trouble logging in to the bounty portal? Every time I try to log in I am getting following "There was an internal error, please try again!"
No, everything looks fine for me. After reading here about the login issues I've tested it, but as I said it's working for me. Hm, it's weird. When I log in, e.g. with Messenger, I get redirected to Messenger, but I'm still not logged in at the Bancor network app. I tried it at 2 diffferent computers and it's the same. happen with me too when i try log in with telegram, still can't log in |
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hendra haidir
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June 13, 2017, 05:04:09 PM |
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hello dev,, i can't login with telegram for bounty program ??
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easyrimka
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June 13, 2017, 05:05:52 PM |
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It seem that nobody can log to their bounty app
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Shahrul09
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June 13, 2017, 05:06:50 PM |
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hello dev,, i can't login with telegram for bounty program ??
Its finish and closed , they reviewing the remaining one. It will be open when its done and the token can be convert to bnt. Probably by next week |
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canvan
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June 13, 2017, 05:07:02 PM |
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Social Media Bounty is now Closed. And it seems that those who submitted their weekly report later than June 12 will not get paid. As the Campaign Manager replied to the comments, the report needs to be submitted not sooner than a week started on the day the participant signed up (see screenshot of my application below) As the image shown above, I applied 8 days ago (June 5 forum time), so my first report should not be submitted sooner than June 12. Since on June 12, their site wasn't accessible (app.bancor.network/), participants like me who supposedly submitting the reports haven't had the chance to submit (screenshot of another user with the same problem below): I've seen one of the reply from the manager (stated about post later than June 12 - meaning will not get paid): I don't think it should be like this. The manager was accepting participants until 3 days ago today (so it was June 10 forum time), and mentioned about weekly report (see screenshot below): If he knew that it will end on June 12, why still accept? and why not post a new discussion on the bounty site to inform the participants? Tweets and other actions should be checked (the date) and pay those who qualified. Some just posted it late because of the Weekly report rule & inaccessible site during the time of submitting a report, but did finish the task ahead of time. Want to clarify it on the bounty site but it didn't allow me to sign in using telegram account (which I used before to sign up there), that's why I posted here. Thank you! PS. All screenshots was taken today No. Manager wont know when the campaign gonna stop. The rules posted, since day one stated that the campaign will end at 30th june or when ico end, which ever that come first. So no, he didnt know if it will end one 12th june or not. But its fair what he did. Closed it at ico. And its already mention by manager when you all signup in beginning that you will be paid weekly, not daily.'reports are submitted weekly. sicne everyon signed up on different dates, unfortunately some people will not be elidgable to submit their next report if the fundraiser has ended before their next weeks report is due' They shouldn't have accepted anyone in any of the bounties if there was a chance they would never be paid, regardless of the wording that's just deceiving. |
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