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

[jacaf01]

can someone post a good explanation on why BNT is sinking every day?

In most easy and simple word it can be explained as accumulation all what is happening right now. If you are holder then keep holding and don't shake your hands now as good times are coming soon. It is big project which will not fall like this easy.

Accumulation? I do not think so everybody had a chance to get involved and it seems that sometimes most successful ICO is not best in terms of investment returns.. But still it is too early for this kind of talk. This is all because of fear and dubts.

There is no accumulation theory here, because the ICO riased alot of funds and the 3 hours period extension allowed alot of investors to get into the game. This is going to be a long term investment in my opinion, anyone looking to flip his profit should better get out now before more price dip

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[chichidori]

It got over bough and bitcoin price is falling so many of the altcoin/token are also taking a dive some are selling Bancor to recuperate.

[disconnectme]

Pretty funny part is that right now with price being lower than ICO, you can spend less USD and gotten more out of than the ICO and skip all the craziness.   

I think ICO is about entering its bearish market like last year, where ICO tokens start dropping when it hit the market. ICN, GOLEM, SNGL, Antshares etc all dumped when they all hit market.

[adsjohn]

It's not like people say, just on the line, trading fell to the bottom

[paulmaritz]

i didn't follow this whole bancor-thing so pls take it easy with me,
one question: one of the main selling points is the liquidity if i got that right but not even eth itself provides good liquidity as seen by the coinbase flash-crash so whats the point again? is this a promise for the future or something? thx!

To claim that "not even eth itself provides good liquidity" is simply not true. A high volume of activity in the market or high liquidity led to the temporary hiccup at ETH. See the posts above to learn how Bancor intends to ensure liquidity across their network despite the popularity (or lack thereof) a single smart token enjoys.

[paulmaritz]

can someone post a good explanation on why BNT is sinking every day?

It is simple, ICO flippers are selling to enter into another big project. Bancor is a long term project and token holders will surely benefit from this

Really I think an ICO that goes up 400% the first day, is a lot better than one that goes down 20% like BNT

huge disappointment...

ETH = $3,80 at ICO, now $3  

GNO = $35 at ICO, well over $100 after a few days...

Why are you expressing it in dollars? They sold it at 0.01 ETH during the  ICO. The current price is 0.010284 ETH. How does that represent a 20% drop?

[MedaR]

I don't understand investors of you get in this game and decided to invest in and ICO which is highly unpredictable in every term, why don't you give a little more time? Why people rushing to sell it becase it is not 10x more as they have espected to be on start? My advice is to wait , and not to fall under this presure..I will buy some, and i will wait.

[paulmaritz]

can someone post a good explanation on why BNT is sinking every day?

It's because there is a flaw in the Bancor model and it's allowing the whales to game the system & take profits. Whales are buying at the exchange and selling to the contract small bit by bit due to the price discrepancy.

This drop will continue till the 120k ETH floor is completely gone. Then nobody knows what will happen. BNT can go into a free fall and never recover or it can start rising again. Nobody knows for sure because nobody can predict the market.

It is not a flaw.  This is how Bancor model works.  Arbitrage is supposed to even out the discrepancy between the exchanges and the smart contract.

One things I do not understand is why they are doing it bit by bit.  That part puzzles me.

That 120k ETH floor is the flaw. There is a huge incentive for the whales to crash the exchange price below 0.01 ETH and keep buying cheap BNT to sell to the contract because they know the contract price cannot go below 0.01 ETH. Any whale can put up a huge sell wall at 0.01 ETH to make sure the price doesn't go over that while they stock up on BNT.

I feel this is just the beginning, the worst is yet to come.

If the wall was not there, the whales would have pushed the price way below the 0.01 ETH mark already, bought up the coins cheaply and pumped the price to heaven. Now there is very little room for them to push it downwards, except if they can convince weak hands to go against the wall on their behalf. The 120k ETH floor is not the flaw, the flaw is people who are stupid enough to sell their BNT for less than 0.01 ETH in the open market. If the weak hands prevail, the price will eventually go below the 0.01 ETH mark. The whales will then have a feeding frenzy. Once they've bought up the coins cheaply, they will start pumping it like there is no tomorrow. Many of the weak hands will try to get back in, but at much higher prices.

[marksup]

The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.

[paulmaritz]

I don't understand investors of you get in this game and decided to invest in and ICO which is highly unpredictable in every term, why don't you give a little more time? Why people rushing to sell it becase it is not 10x more as they have espected to be on start? My advice is to wait , and not to fall under this presure..I will buy some, and i will wait.

It is because most are not investors. They are speculators. They are the weak hands who are now off loading BNT close to the ICO price as expressed in ETH. They are the weak hands that are off loading at a loss as expressed in USD. They have little to no faith in the project itself - most don't even know what it is about, especially after Clif High left those remarks at twitter (https://twitter.com/clif_high).

Personally, like you, I will continue to hold mine, because I believe in this project despite claims that the "code is flawed" and what have you. Is it guaranteed to succeed? No, but I will take my chances.

[wajik-tempe]

can someone post a good explanation on why BNT is sinking every day?

It is simple, ICO flippers are selling to enter into another big project. Bancor is a long term project and token holders will surely benefit from this

Really I think an ICO that goes up 400% the first day, is a lot better than one that goes down 20% like BNT

huge disappointment...

ETH = $3,80 at ICO, now $3  

GNO = $35 at ICO, well over $100 after a few days...

Why are you expressing it in dollars? They sold it at 0.01 ETH during the  ICO. The current price is 0.010284 ETH. How does that represent a 20% drop?

Be patient is just the beginning,I am sure of this project and i will sell its x3 even more at the price of $ 10
Do not equate Banchor with GNO which has a fair amount of Coin Supply so reasonable if the GNO price is high enough now

[paulmaritz]

The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.

How exactly is it a scam? How exactly have they "already made their profits and moved on"? They are still frequently providing us with updates (e.g. https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"? Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?  

[thepo1m]

can someone post a good explanation on why BNT is sinking every day?

It is simple, ICO flippers are selling to enter into another big project. Bancor is a long term project and token holders will surely benefit from this

Really I think an ICO that goes up 400% the first day, is a lot better than one that goes down 20% like BNT

huge disappointment...

ETH = $3,80 at ICO, now $3  

GNO = $35 at ICO, well over $100 after a few days...

Why are you expressing it in dollars? They sold it at 0.01 ETH during the  ICO. The current price is 0.010284 ETH. How does that represent a 20% drop?

Be patient is just the beginning,I am sure of this project and i will sell its x3 even more at the price of $ 10
Do not equate Banchor with GNO which has a fair amount of Coin Supply so reasonable if the GNO price is high enough now

$10 per token will give it over a billion USD valuation. In theory that should be the market cap but the team need to walk their talk first, the project has been attacked by several people and some people are saying it can easily be gamed. I know some black hackers will be looking for these loop-holes.

[marksup]

The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.

How exactly is it a scam? How exactly have they "already made their profits and moved on"? They are still frequently providing us with updates (e.g. https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"? Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?  

Because the people involved and the ones that are behind this ICO deal with binary options, CFD and forex trading and that's exactly what they do. This ICO is just another way to lure innocent investors who think they can become early adopters of something that will be big and profitable in the future and in the meanwhile clean up on the invested monies. BNT had already reached $2.7 - that's a 90% drop in the past 7 days - the 4th biggest drop in all currencies according to coinmarketcap.com. You'd have to be practically delusional to assume it'll bounce back and live up to the fantasies it presented.

[bobq]

can someone post a good explanation on why BNT is sinking every day?

It's because there is a flaw in the Bancor model and it's allowing the whales to game the system & take profits. Whales are buying at the exchange and selling to the contract small bit by bit due to the price discrepancy.

This drop will continue till the 120k ETH floor is completely gone. Then nobody knows what will happen. BNT can go into a free fall and never recover or it can start rising again. Nobody knows for sure because nobody can predict the market.

It is not a flaw.  This is how Bancor model works.  Arbitrage is supposed to even out the discrepancy between the exchanges and the smart contract.

One things I do not understand is why they are doing it bit by bit.  That part puzzles me.

That 120k ETH floor is the flaw. There is a huge incentive for the whales to crash the exchange price below 0.01 ETH and keep buying cheap BNT to sell to the contract because they know the contract price cannot go below 0.01 ETH. Any whale can put up a huge sell wall at 0.01 ETH to make sure the price doesn't go over that while they stock up on BNT.

I feel this is just the beginning, the worst is yet to come.

If the wall was not there, the whales would have pushed the price way below the 0.01 ETH mark already, bought up the coins cheaply and pumped the price to heaven. Now there is very little room for them to push it downwards, except if they can convince weak hands to go against the wall on their behalf. The 120k ETH floor is not the flaw, the flaw is people who are stupid enough to sell their BNT for less than 0.01 ETH in the open market. If the weak hands prevail, the price will eventually go below the 0.01 ETH mark. The whales will then have a feeding frenzy. Once they've bought up the coins cheaply, they will start pumping it like there is no tomorrow. Many of the weak hands will try to get back in, but at much higher prices.

Weak hands would sell on exchanges below ICO prices also because at the moment it's complicated to sell to the contract. Once the Bancor team releases their app to buy/sell this should not happen any more. I mean, you must be very stupid to sell cheap on one platform when you could easily sell higher on another one.

[paulmaritz]

The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.

How exactly is it a scam? How exactly have they "already made their profits and moved on"? They are still frequently providing us with updates (e.g. https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"? Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?  

Because the people involved and the ones that are behind this ICO deal with binary options, CFD and forex trading and that's exactly what they do. This ICO is just another way to lure innocent investors who think they can become early adopters of something that will be big and profitable in the future and in the meanwhile clean up on the invested monies. BNT had already reached $2.7 - that's a 90% drop in the past 7 days - the 4th biggest drop in all currencies according to coinmarketcap.com. You'd have to be practically delusional to assume it'll bounce back and live up to the fantasies it presented.

1. Where is your proof that they deal with binary options?

2. The ICO price was at 0.01 ETH. The current price is now 0.010303 ETH. Not exactly a 90% drop. In addition, many of the other cryptos have dropped in price as well as expressed in USD. Based on your logic, all of those must be scams, right?

3. Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?  

4. They are still frequently providing us with updates (e.g. https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"?

Please provide answers to the above questions.

[paulmaritz]

can someone post a good explanation on why BNT is sinking every day?

It's because there is a flaw in the Bancor model and it's allowing the whales to game the system & take profits. Whales are buying at the exchange and selling to the contract small bit by bit due to the price discrepancy.

This drop will continue till the 120k ETH floor is completely gone. Then nobody knows what will happen. BNT can go into a free fall and never recover or it can start rising again. Nobody knows for sure because nobody can predict the market.

It is not a flaw.  This is how Bancor model works.  Arbitrage is supposed to even out the discrepancy between the exchanges and the smart contract.

One things I do not understand is why they are doing it bit by bit.  That part puzzles me.

That 120k ETH floor is the flaw. There is a huge incentive for the whales to crash the exchange price below 0.01 ETH and keep buying cheap BNT to sell to the contract because they know the contract price cannot go below 0.01 ETH. Any whale can put up a huge sell wall at 0.01 ETH to make sure the price doesn't go over that while they stock up on BNT.

I feel this is just the beginning, the worst is yet to come.

If the wall was not there, the whales would have pushed the price way below the 0.01 ETH mark already, bought up the coins cheaply and pumped the price to heaven. Now there is very little room for them to push it downwards, except if they can convince weak hands to go against the wall on their behalf. The 120k ETH floor is not the flaw, the flaw is people who are stupid enough to sell their BNT for less than 0.01 ETH in the open market. If the weak hands prevail, the price will eventually go below the 0.01 ETH mark. The whales will then have a feeding frenzy. Once they've bought up the coins cheaply, they will start pumping it like there is no tomorrow. Many of the weak hands will try to get back in, but at much higher prices.

Weak hands would sell on exchanges below ICO prices also because at the moment it's complicated to sell to the contract. Once the Bancor team releases their app to buy/sell this should not happen any more. I mean, you must be very stupid to sell cheap on one platform when you could easily sell higher on another one.

True. There is no excuse to sell below the ICO price, especially after Bancor posted this: https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca

[paulmaritz]

The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.

How exactly is it a scam? How exactly have they "already made their profits and moved on"? They are still frequently providing us with updates (e.g. https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"? Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?  

Because the people involved and the ones that are behind this ICO deal with binary options, CFD and forex trading and that's exactly what they do. This ICO is just another way to lure innocent investors who think they can become early adopters of something that will be big and profitable in the future and in the meanwhile clean up on the invested monies. BNT had already reached $2.7 - that's a 90% drop in the past 7 days - the 4th biggest drop in all currencies according to coinmarketcap.com. You'd have to be practically delusional to assume it'll bounce back and live up to the fantasies it presented.

In addition, how is it the Bancor team's fault that there was a drop in the price of ETH and that HitBTC sold BNT IOUs at inflated prices?

[stefanoste]

The price is going down because it's a scam. And the people that run it have already made their profits and moved on. It'll continue to drop until it becomes yet another scam ICO with a good enough sales pitch to convince people to pump $150M into it.

How exactly is it a scam? How exactly have they "already made their profits and moved on"? They are still frequently providing us with updates (e.g. https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca). Why would they even bother if they "have already made their profits and moved on"? Why would they allow people to sell BNT at a minimum price of 0.01 ETH until 120 000 ETH are gone? Wouldn't it be better to just take all the ETH and run?  

Because the people involved and the ones that are behind this ICO deal with binary options, CFD and forex trading and that's exactly what they do. This ICO is just another way to lure innocent investors who think they can become early adopters of something that will be big and profitable in the future and in the meanwhile clean up on the invested monies. BNT had already reached $2.7 - that's a 90% drop in the past 7 days - the 4th biggest drop in all currencies according to coinmarketcap.com. You'd have to be practically delusional to assume it'll bounce back and live up to the fantasies it presented.

In addition, how is it the Bancor team's fault that there was a drop in the price of ETH and that HitBTC sold BNT IOUs at inflated prices?

No matter what  every one can buy BNC now at $2.50 !!!!!!!!! where is the so Sophisticated bancor team now

[sammys]

whats happen to bounty distribution. They told we will distribution next weekend and now its monday