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ivaf
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July 22, 2018, 04:50:32 PM |
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It is interesting: Bancor Product Architect Eyal Hertzog and VP of Growth Omri Cohen join Jason Appleton to discuss the future of crypto security: https://ban.cr/CryptoCrow |
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obsbtc
Member
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Activity: 1330
Merit: 10
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July 22, 2018, 05:02:28 PM |
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Did you know that tokens like Unblocked Ledger (ULT) and LockTrip (LOC) recently appeared on the WebApp? Want to know when there are new tokens? Be sure to follow the News channel! https://t.me/BancorNews |
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ruletheworld
Legendary
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Activity: 1386
Merit: 1045
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July 23, 2018, 01:08:46 AM |
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That is the approach which any project need to become the world class although it was another horrible incident in the history of cryptocurrencies. The team was aware of past attack on TheDao and that is why they make this network secure and with that feature they were able to make possible of token recovery and in future they will implement more features on this network. Agreed Freaks. While this was very much a regrettable incident, it also served to highlight the effectiveness of the security measures Bancor had put into place for BNT. It also, as you pointed out, brought the issue of security and what can be done to mitigate breaches to a more prominent place in the awareness of the global crypto community. We and the Bancor team are very excited to see what innovations this will lead to in the future to help protect everyone. Wait what? If anything, the incident showed how centralized services are a security loophole. If this wasn't explicitly programmed into the BNT contract, not a penny would have been lost. I don't understand your reasoning - care to explain? |
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JanuaryN
Jr. Member
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Activity: 364
Merit: 2
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July 23, 2018, 06:33:56 AM |
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That is the approach which any project need to become the world class although it was another horrible incident in the history of cryptocurrencies. The team was aware of past attack on TheDao and that is why they make this network secure and with that feature they were able to make possible of token recovery and in future they will implement more features on this network. Agreed Freaks. While this was very much a regrettable incident, it also served to highlight the effectiveness of the security measures Bancor had put into place for BNT. It also, as you pointed out, brought the issue of security and what can be done to mitigate breaches to a more prominent place in the awareness of the global crypto community. We and the Bancor team are very excited to see what innovations this will lead to in the future to help protect everyone. Wait what? If anything, the incident showed how centralized services are a security loophole. If this wasn't explicitly programmed into the BNT contract, not a penny would have been lost. I don't understand your reasoning - care to explain? I see your point of view. Without additional features such as convertibility, ETH reserves aren't necessary, meaning Bancor would hold no funds that could be stolen. The safest way to store one's funds is to memorize a 42 digit private key and never access these funds. Most of us know the safest way to do something, and then take another route for the sake of convenience. Bancor is connecting as many low volume tokens as possible; a great convenience that makes illiquid currencies liquid. While BNT's ETH reserves are a target, they're also a tool that make low volume tokens available, convertible, and valuable. They increase wealth to those who have created the product or service for which these tokens pay, and those who pay benefit from the products and services desired. There are foundations with tokens focused on absolute security, and that's great technology. Bancor is focused on absolute inclusion and community. While the team are learning from this unfortunate event, it's also worth pointing out that a far reaching community has been linked together, in a secure enough way that over $1 bn in transactions were made safely prior to the theft. This technology is new, and expensive security holes will reveal and improve crypto and blockchain. In ten years we'll look back at a lot of mistakes that could've been prevented, had security been important above all else. In the meantime, we can do our best to manage the risks associated with new technology, and improve security, without abandoning our vision for the future. |
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Haibui999
Newbie
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July 23, 2018, 06:35:22 AM |
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If this wasn't explicitly programmed into the BNT contract, not a penny would have been lost. I read that promising decentralized exchanges plan to provide token exchange between different blockchains.
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mexi.db
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July 23, 2018, 12:30:33 PM |
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WATCH: Galia Benartzi & Max Keiser discuss security, decentralization and the role of money in global trade imbalances on Keiser Report https://ban.cr/GaliaKeiserReport |
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Scooby903
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July 23, 2018, 12:59:33 PM |
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White Paper outlines that a relay token can be configured to take a contribution from each conversion. Does BNT charge a contribution for conversion via BNT in it's role as a relay token? Is so, how much does it take?
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crairezx20
Legendary
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Activity: 1638
Merit: 1046
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July 23, 2018, 02:01:20 PM |
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Hello guys, just let me ask if you still guys use this link https://www.bancor.network/ for bancor network? because I would like to exchange some tokens with other tokens. I just want to make sure that the site is not compromised. |
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ivaf
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July 23, 2018, 04:56:08 PM |
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Hello guys, just let me ask if you still guys use this link https://www.bancor.network/ for bancor network? because I would like to exchange some tokens with other tokens. I just want to make sure that the site is not compromised. I use this link https://bancor.network----------------------------------------------- And another member of Bancor Network: ReMoneta, a land-backed payment system connecting crypto to commerce, has announced integration with Bancor to offer RET token holders continuous liquidity. https://ban.cr/ReMonetaIntegration |
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obsbtc
Member
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Activity: 1330
Merit: 10
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July 23, 2018, 05:33:35 PM |
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White Paper outlines that a relay token can be configured to take a contribution from each conversion. Does BNT charge a contribution for conversion via BNT in it's role as a relay token? Is so, how much does it take?
Regarding your question, every relay currently takes between 0.2 and 0.3% spread, depending on the converter Hello guys, just let me ask if you still guys use this link https://www.bancor.network/ for bancor network? because I would like to exchange some tokens with other tokens. I just want to make sure that the site is not compromised. You can use https://www.bancor.network/ at will, Bancor's WebApp has not been compromised |
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erwan
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July 24, 2018, 01:07:07 AM |
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I want to ask how bancor network is working?
For example i want to exchange ethereum with a coin. How bancor network define the token price?
Is it market price or something else. Cause I couldn’t find anything like ask -order sections.
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TheRedCanary
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Activity: 390
Merit: 11
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July 24, 2018, 01:15:11 AM |
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I want to ask how bancor network is working?
For example i want to exchange ethereum with a coin. How bancor network define the token price?
Is it market price or something else. Cause I couldn’t find anything like ask -order sections.
Hi erwan, great question. Bancor uses an algorithm outlined in our whitepaper. price = connector balance Smart Token’s outstanding supply × CW You can read all the details about token price in the whitepaper on section 3 https://storage.googleapis.com/website-bancor/2018/04/01ba8253-bancor_protocol_whitepaper_en.pdf |
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-Kaizer-
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Activity: 180
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July 24, 2018, 06:48:59 AM |
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Could you please explain any fees and/or spreads that Bancor, related parties or unrelated parties take when I transact on Bancor?
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JanuaryN
Jr. Member
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Activity: 364
Merit: 2
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July 24, 2018, 07:30:00 AM |
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Could you please explain any fees and/or spreads that Bancor, related parties or unrelated parties take when I transact on Bancor?
Regarding fees, Relay owners receive the spread incurred during conversions but it is calculated into the price. As for profit, Bancor is a non profit and we sustain ourselves through the initial TGE and by increasing the value of the Network. As you may know, transaction fees go to miners on the Ethereum Network. |
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jtalk
Legendary
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Activity: 1610
Merit: 1004
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July 24, 2018, 08:28:41 AM |
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It is understandable the point of view and vision what Galia has discussed with Max Keiser on the future of liquidity network. It will remain to be seen how that model or mechanism of some third kind system which is neither centralized nor decentralized but is extremely useful to combat the criminal attacks on networks. This exploiting has opened new debate of collaboration within the industry that is quite interesting.
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JanuaryN
Jr. Member
Offline
Activity: 364
Merit: 2
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July 24, 2018, 10:25:54 AM |
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It is understandable the point of view and vision what Galia has discussed with Max Keiser on the future of liquidity network. It will remain to be seen how that model or mechanism of some third kind system which is neither centralized nor decentralized but is extremely useful to combat the criminal attacks on networks. This exploiting has opened new debate of collaboration within the industry that is quite interesting.
Well said, jtalk. Benartzi did a perfect job of presenting Bancor and the space in which we operate in a professional manner. For those who missed out, watch from 13:10: https://www.youtube.com/watch?v=ojMJBJZNgdU |
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RonMank
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July 24, 2018, 10:49:28 AM |
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Bancor has come roaring back after the theft, processing over $30M in weekly conversion volume, with a flurry of new tokens activating on the network. More details in July Progress Update: https://ban.cr/JulyProgressUpdate … |
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Tarasov1992
Jr. Member
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Activity: 266
Merit: 1
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July 24, 2018, 12:31:58 PM |
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If this wasn't explicitly programmed into the BNT contract, not a penny would have been lost. I read that promising decentralized exchanges plan to provide token exchange between different blockchains.
Hello, Haibui999, I'm not sure what 'this' means in your message. Please take a look at this video about the cross-chain bridge in Bancor: https://www.youtube.com/watch?v=7yVz1s_cbHY |
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