criptoraily
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June 15, 2017, 11:32:54 AM |
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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.
How this contract will work? How it can purchase BTN when price will be on 0.01ETH? i've came across 3 ideas but i'm not really sure witch one is correct.
1)I mean how is possible for the smartcontract buy back BNT at market price of 0.01ETH without passing through exchanges, buying through exchanges means this will be a smartcontract that can interact with Exchanges' API to work and make an automatic buy when that price is reached.
2)It will be a simply contract that interacts with the seller through wallets, meaning when BTN price on exchanges will hit 0.01ETH you just send your BTN from your wallet to the contract to recive back ETH.
3)The smartcontract will be in Bankor platform itself named like BTNETH contract, but that would mean each token sent back to the platform will be burned as ETH is sent back to the seller meaning less BTN in circulation could drive the BTN price up, cause offer and demand.
Can someone explain this part, because i can't really understand how it works.
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D3m0nKinGx
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June 15, 2017, 11:38:30 AM |
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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.
How this contract will work? How it can purchase BTN when price will be on 0.01ETH? i've came across 3 ideas but i'm not really sure witch one is correct.
1)I mean how is possible for the smartcontract buy back BNT at market price of 0.01ETH without passing through exchanges, buying through exchanges means this will be a smartcontract that can interact with Exchanges' API to work and make an automatic buy when that price is reached.
2)It will be a simply contract that interacts with the seller through wallets, meaning when BTN price on exchanges will hit 0.01ETH you just send your BTN from your wallet to the contract to recive back ETH.
3)The smartcontract will be in Bankor platform itself named like BTNETH contract, but that would mean each token sent back to the platform will be burned as ETH is sent back to the seller meaning less BTN in circulation could drive the BTN price up, cause offer and demand.
Can someone explain this part, because i can't really understand how it works.
This may help clarify some things about the dynamics of BNT's Protocol and DEX: https://medium.com/@stefan.pernar/hacking-the-bancor-protocol-for-fun-and-profit-6ddfb7f1cf56 |
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Racooma
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Activity: 50
Merit: 0
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June 15, 2017, 12:11:21 PM |
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The Goat Master
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June 15, 2017, 01:09:22 PM |
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New ICO rule: Terms can be changed during the ICO  |
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louie2001912
Newbie
Offline
Activity: 31
Merit: 0
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June 15, 2017, 04:31:59 PM |
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New ICO rule: Terms can be changed during the ICO It allowed me to buy. I love this rule! |
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MANNYKURSH
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June 15, 2017, 04:34:02 PM |
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New ICO rule: Terms can be changed during the ICO That is not good in the middle of it you should be aware of this. Once you buy into it then they can do whatever they want too. Not good above poster.. not good at all!  |
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wafdawg
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June 15, 2017, 04:35:04 PM |
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So what do we expect the price to be when BNT's exchange is up or if BNT hits other exchanges? And how soon?
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pumz
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June 15, 2017, 04:46:14 PM |
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So what do we expect the price to be when BNT's exchange is up or if BNT hits other exchanges? And how soon?
It will fair expectation of seeing at least $10 for the token from the starting day on big exchanges. It was sold at about $4 per token and double value will be normal following the current trend in which every token went few times higher than offered price in ICO. |
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join2
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June 15, 2017, 05:03:33 PM |
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i join bounty social media with telegram, i too download wallet and i have acc bancor,
why i get bounty social media?
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louie2001912
Newbie
Offline
Activity: 31
Merit: 0
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June 15, 2017, 05:05:33 PM |
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i join bounty social media with telegram, i too download wallet and i have acc bancor,
why i get bounty social media?
Take the bounty talk to slack. They are not here answering questions. |
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join2
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June 15, 2017, 05:07:33 PM |
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i join bounty social media with telegram, i too download wallet and i have acc bancor,
why i get bounty social media?
Take the bounty talk to slack. They are not here answering questions. Why here there is no special writing bounty? i dont have slack |
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Cbx.Bet
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June 15, 2017, 06:06:10 PM |
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I can not transfer my BNT on HitBtc, I have the following message.
"Please note that BNT is an IOU for future issued token. Until the token is released withdrawals and deposits are unavailable. Please accept our apologies for the inconvenience."
How other users have done?
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matsud2
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June 15, 2017, 06:52:14 PM |
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I can not transfer my BNT on HitBtc, I have the following message.
"Please note that BNT is an IOU for future issued token. Until the token is released withdrawals and deposits are unavailable. Please accept our apologies for the inconvenience."
How other users have done?
because we can't withdraw the token for now, and the BNT on HitBtc is a IOU |
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ulhaq
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June 15, 2017, 06:54:34 PM |
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Can someone explain whether this goes beyond multi-way exchanges?
Eg, let's say that I want to trade ether for nubits, and there is no one on the other side of the exchange. But there is someone who wants ether and will give up siacoin for it, and there is a third person who wants siacoin and will give up nubits. A 3-way exchange could be made. Additional multi-way exchanges (4-way, etc) could also be done, and all of these would effectively increase liquidity.
But I am getting the idea that the Bancor protocol goes beyond this, and will create reserve tokens even in the absence of any multi-way exchange? Is this right, or is Bancor simply facilitating multi-way exchanges?
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dishku
Legendary
Offline
Activity: 1918
Merit: 1003
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June 15, 2017, 06:56:20 PM |
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I can not transfer my BNT on HitBtc, I have the following message.
"Please note that BNT is an IOU for future issued token. Until the token is released withdrawals and deposits are unavailable. Please accept our apologies for the inconvenience."
How other users have done?
At the moment it's not possible for any person to move it's tokens to another address because they into lock status due to smart contract once the team will allow this. Don't buy from HitBtc these are only IOU token so you wouldn't make them transfer to your wallet. |
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bitpotter
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June 15, 2017, 07:07:11 PM |
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I can not transfer my BNT on HitBtc, I have the following message.
"Please note that BNT is an IOU for future issued token. Until the token is released withdrawals and deposits are unavailable. Please accept our apologies for the inconvenience."
How other users have done?
because we can't withdraw the token for now, and the BNT on HitBtc is a IOU Be patient, wait until the withdrawal is opened. |
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Apollo777
Member
Offline
Activity: 98
Merit: 10
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June 15, 2017, 07:43:58 PM |
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So what do we expect the price to be when BNT's exchange is up or if BNT hits other exchanges? And how soon?
It will fair expectation of seeing at least $10 for the token from the starting day on big exchanges. It was sold at about $4 per token and double value will be normal following the current trend in which every token went few times higher than offered price in ICO. Kinda scary to be honest to see ICOs nowadays instantly double your money. House of Cards being built... How To Make E-Z Money: Invest In ICO Double+ Up (Take out money) Invest In Another ICO Double+ Up (Take out money) Rinse and Repeat. |
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ePesoInitiative
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June 15, 2017, 07:46:06 PM |
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So what do we expect the price to be when BNT's exchange is up or if BNT hits other exchanges? And how soon?
It will fair expectation of seeing at least $10 for the token from the starting day on big exchanges. It was sold at about $4 per token and double value will be normal following the current trend in which every token went few times higher than offered price in ICO. Kinda scary to be honest to see ICOs nowadays instantly double your money. House of Cards being built... How To Make E-Z Money: Invest In ICO Double+ Up (Take out money) Invest In Another ICO Double+ Up (Take out money) Rinse and Repeat. Like it didn't happen in Silicon Valley  |
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Apollo777
Member
Offline
Activity: 98
Merit: 10
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June 15, 2017, 07:49:52 PM |
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So what do we expect the price to be when BNT's exchange is up or if BNT hits other exchanges? And how soon?
It will fair expectation of seeing at least $10 for the token from the starting day on big exchanges. It was sold at about $4 per token and double value will be normal following the current trend in which every token went few times higher than offered price in ICO. Kinda scary to be honest to see ICOs nowadays instantly double your money. House of Cards being built... How To Make E-Z Money: Invest In ICO Double+ Up (Take out money) Invest In Another ICO Double+ Up (Take out money) Rinse and Repeat. Like it didn't happen in Silicon Valley Yeah but instantly doubling or quadrupling your money in literally days. Insane. I'm not complaining though. |
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