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abakr
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June 23, 2017, 07:58:50 AM |
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TOTAL SUPPLY 81.862M  |
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paulmaritz
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June 23, 2017, 08:05:28 AM |
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Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture.  |
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paulmaritz
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June 23, 2017, 08:06:10 AM |
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TOTAL SUPPLY 81.862M 24h Volume $7,588,480  |
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ngin-x
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June 23, 2017, 08:08:22 AM |
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Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture. Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha |
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paulmaritz
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June 23, 2017, 08:24:55 AM |
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Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture. Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha I follow a hold and see strategy! |
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cjmoles
Legendary
 Offline
Activity: 1176
Merit: 1016
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June 23, 2017, 08:28:33 AM |
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Can somebody help me out here?
So....trying to figure this out....I read the white paper, watched the videos, perused this thread, bought around 20 bucks worth on trex, and now I'm trying to figure out why I need this token. Isn't the whole bancor concept a price stabilizing mechanism? I think I just bought two dollar tokens for four bucks a piece....Is there a reason to hold this token? Is anything from the bancor arbitrage formula actually going back into the contract to increase the tokens value, or is its value going to be tied to the value of the other tokens forever?
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bobq
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June 23, 2017, 08:30:37 AM |
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I think the devs should also publish a little guide for all inverstors (I am one of them) who followed their instruction but didn't manage to buy and now have the problem to get back their ETHs from the contract they sent it to. I have no clue, nor probably the others have either.
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Shahrul09
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June 23, 2017, 08:37:35 AM |
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TOTAL SUPPLY 81.862M With each purchase through smart contract , new bnt will be created (bnt is unlimited) . Hence the supply increase , and this increase the value too |
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Shahrul09
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June 23, 2017, 08:44:20 AM |
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Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture. Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Lol. The price wont go down below 0.01eth. Not now. Period. Bancor allocated around 120k eth as a buy back wall at ico price 0.01eth. It wont go down below 0.01eth https://blog.bancor.network/the-community-of-the-currency-9770087fde17'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. |
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paulmaritz
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June 23, 2017, 08:50:34 AM |
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Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture. Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Lol. The price wont go down below 0.01eth. Not now. Period. Bancor allocated around 120k eth as a buy back wall at ico price 0.01eth. It wont go down below 0.01eth https://blog.bancor.network/the-community-of-the-currency-9770087fde17'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. Are there any whales that wish to go against this wall? |
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ngin-x
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June 23, 2017, 09:13:44 AM |
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Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.
It is the prices of HitBTC's IOUs that give a skew picture. Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Lol. The price wont go down below 0.01eth. Not now. Period. Bancor allocated around 120k eth as a buy back wall at ico price 0.01eth. It wont go down below 0.01eth https://blog.bancor.network/the-community-of-the-currency-9770087fde17'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. Well where is this buy wall? Any whale can go to an exchange right now and eat up the entire order book and the price will collapse to zero. |
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Sampey
Legendary
Offline
Activity: 2632
Merit: 1040
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June 23, 2017, 09:31:11 AM |
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Just a question : how many of you did really understand how bancor works? How many really understand the difference between trade bancor over an exchange (where price is made by humans) or directly from the bancor contract address (where price is made by the algorithm). A lot of confusion here  |
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quintiilieo
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June 23, 2017, 09:44:36 AM |
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Hi manager how can i get bounty on social media if its not allowed to sign in on the site. Regards
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ngin-x
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June 23, 2017, 09:52:48 AM |
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Just a question : how many of you did really understand how bancor works? How many really understand the difference between trade bancor over an exchange (where price is made by humans) or directly from the bancor contract address (where price is made by the algorithm). A lot of confusion here I'll be honest. I had no idea how bancor trade works directly over contract address but I googled and read the official blog to learn all about it. It's a fascinating concept to use smart contracts for trading but what determines the price they are exchanging tokens at? "USING THIS CONTRACT WILL PURCHASE BNT AT THE PRICE EFFECTIVE WHEN THE TRANSACTION IS PROCESSED. THERE IS NO WAY TO LIMIT THE PRICE." This is very ambiguous to say the least. I'd rather trust an exchange where humans trade rather than an algorithm deciding the price for me especially when there is no way to know beforehand the rate I'll get. |
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ssvenss
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June 23, 2017, 09:53:39 AM |
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Why can not I get tokens yet?
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ngin-x
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June 23, 2017, 09:54:59 AM |
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TOTAL SUPPLY 81.862M With each purchase through smart contract , new bnt will be created (bnt is unlimited) . Hence the supply increase , and this increase the value too Won't this constantly dilute the value of existing tokens? Why should anyone hold then? |
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Shahrul09
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June 23, 2017, 10:05:48 AM |
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Just a question : how many of you did really understand how bancor works? How many really understand the difference between trade bancor over an exchange (where price is made by humans) or directly from the bancor contract address (where price is made by the algorithm). A lot of confusion here I'll be honest. I had no idea how bancor trade works directly over contract address but I googled and read the official blog to learn all about it. It's a fascinating concept to use smart contracts for trading but what determines the price they are exchanging tokens at? "USING THIS CONTRACT WILL PURCHASE BNT AT THE PRICE EFFECTIVE WHEN THE TRANSACTION IS PROCESSED. THERE IS NO WAY TO LIMIT THE PRICE." This is very ambiguous to say the least. I'd rather trust an exchange where humans trade rather than an algorithm deciding the price for me especially when there is no way to know beforehand the rate I'll get. Check the current smart contract price in their official website https://www.bancor.network/bnt |
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paulmaritz
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June 23, 2017, 10:07:06 AM |
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What matters is that anyone who wishes to push the market price of BNT below 0.01 ETH will have to spend a 120k in ETH (or spend less and encourage others to sell below 0.01 ETH). Even if they could afford it, it will not be profitable for them to do so. That being said, there will probably be people that sell their BNT for less in the open market, but it is certainly not the best course of action. Anything less than 0.01 ETH will be snapped up like a lightning strike! P.S. Whales can push the price upwards and dump some along the way, but it will not be profitable to go below the 0.01 ETH mark. |
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Shahrul09
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June 23, 2017, 10:09:59 AM |
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TOTAL SUPPLY 81.862M With each purchase through smart contract , new bnt will be created (bnt is unlimited) . Hence the supply increase , and this increase the value too Won't this constantly dilute the value of existing tokens? Why should anyone hold then? Its so fckng different from other token out there. I just wrote there that with the number in circulation increase the value of bnt increase, is that so hard to grasp?https://www.bancor.network/faq/general'Smart tokens are compatible with the ERC20 standard and can be used by any software that supports this standard, such as Ethereum wallets. However, smart tokens offer additional functionality not available to regular tokens. Each smart token holds a reserve balance in one or more other ERC20 tokens, thereby enabling anyone to exchange between itself and any of its reserve token(s). The smart token’s smart contract issues new tokens (expanding the supply) to anyone who purchases it with any of its reserve tokens, and withdraws tokens from the reserves (contracting supply) for anyone choosing to liquidate the smart token. The price of a smart token vis-a-vis any of its reserve tokens is calculated as a ratio between the current smart token’s supply and its reserve balance, at the pre-set CRR (Constant Reserve Ratio.) Please read our white paper available on the Bancor website for more detailed information about these formulas and their proofs. Essentially, a smart token’s price will always strive to balance supply and demand for the smart token, meaning that when it is being purchased the price is climbing, and when it is being sold, the price is dropping, in relative proportion to the respective transaction sizes.https://docs.google.com/spreadsheets/d/1ns5fS7CvHyZyoxXC0GJWxd_ncsB04F3iAOb2dHHmtJY/htmlview#gid=877776767https://medium.com/@racooma/the-simplest-pricing-simulation-about-bancor-bnt-6d3e6e783e2?source=linkShare-d84efd6f4258-1497536359 |
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