[2017-06-12]$150 Million: Tim Draper-Backed Bancor Completes Largest-Ever ICO

[TravelMug]

$150 Million: Tim Draper-Backed Bancor Completes Largest-Ever ICO


An initial coin offering (ICO) for a blockchain project called Bancor has set a new industry record, raising approximately $153m in ether, the native currency on the ethereum blockchain, as part of a crowdsale that concluded today.

Data shows a smart contract connected to the sale had collected more than 390,000 ether by the time it ended at 18:00 UTC, an amount worth $152.3m at current prices. As such, the figure is higher than even the funding raised by The DAO, the notorious failed fundraising project that made headlines last year when it lost the millions of the $152m in investor funds it raised in a similar sale.

Overall, 79,323,978 Bancor network tokens (BNTs) were created as part of the ICO, with the top token holders now possessing 83.96% of the tokens, or 66,601,702 BNT. Fifty percent of the total tokens, or 39,661,989 BNT, were sold to the public, while the remaining 50% were allocated for future use.

The ICO attracted 10,885 buyers, according to available data, with more than 15,000 transactions sent to the address for purchases during the sale. One buyer went so far as to purchase 6.9m BNT, or roughly $27m, in the sale.


http://www.coindesk.com/150-million-tim-draper-backed-bancor-completes-largest-ever-ico/

[estenity]

what is the main interest in this particular coin?

the name suggests some analogy with a classical bank..

is it decentralized ?

i see that this structure allows to launch new tokens, an idea largely realized by waves with already several successful  ico realized..

[Bitcoin Guy]

Is it too late to invest in Bancor now?  I mean now that the ICO is completed.

[Slow death]

Is it too late to invest in Bancor now?  I mean now that the ICO is completed.

I think it might be late


"$150 Million: Tim Draper-Backed Bancor Completes Largest-Ever ICO"

a lot of money...

what is the main interest in this particular coin?

Good question, I was just curious when I saw $150 million

[Bitcoin Guy]

Here is the info from their site (even though I do not fully understand it):

"The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes."

From the info I got (mostly Youtube ), this thing could become like Google or Tweeter of its service in the future.  If it makes it, its market cap may increase to $150B in 10 to 20 years (which is only 20% of the current Apple market cap) and this could turn a $1000 investment in the ICO to $1M.

[estenity]

Here is the info from their site (even though I do not fully understand it):

"The Bancor protocol enables built-in price discovery and a liquidity mechanism for tokens on smart contract blockchains. These “smart tokens” hold one or more other tokens in reserve and enable any party to instantly purchase or liquidate the smart token in exchange for any of its reserve tokens, directly through the smart token’s contract, at a continuously calculated price, according to a formula which balances buy and sell volumes."

From the info I got (mostly Youtube ), this thing could become like Google or Tweeter of its service in the future.  If it makes it, its market cap may increase to $150B in 10 to 20 years (which is only 20% of the current Apple market cap) and this could turn a $1000 investment in the ICO to $1M.

i do not see the advantages of this future Bancor versus Waves, with his active ICO platform and internal DEX who allows continuous exchanges of the tokens;

and another decisive advantage is that Waves is currently functioning.

[Bitcoin Guy]

i do not see the advantages of this future Bancor versus Waves, with his active ICO platform and internal DEX who allows continuous exchanges of the tokens;
and another decisive advantage is that Waves is currently functioning.

I do not know about Waves till you mentioned (thank you for brought it up), but I guess the monetary success is mostly depending on how much publicity one gets.  Like Youtube started from a news coverage.  I remember that Youtube was not the only such services available that time; they were some others.  The other did not make it because they did not get enough publicity and attention.

[gomei]

That's really a terrible amount of money! I think the project is a good but it is not worth so much money. I hope the team can make full use of these money.

[dominic25]

I tried to be part of the Bancor ICO but wound up not getting any BNT. I like holding coins long term. Good or bad it worked for LTC when I was mining it was $2 a coin. I would like to try to buy some BNT if anyone would want to get rid of some. Thanks

[r0ach]

IPOs are all scams, so congratulations on the largest cryptocurrency scam ever.

[dominic25]

Are there any coins out there now that were started by an ICO and are legit now?

[estenity]

i do not see the advantages of this future Bancor versus Waves, with his active ICO platform and internal DEX who allows continuous exchanges of the tokens;
and another decisive advantage is that Waves is currently functioning.

I do not know about Waves till you mentioned (thank you for brought it up), but I guess the monetary success is mostly depending on how much publicity one gets.  Like Youtube started from a news coverage.  I remember that Youtube was not the only such services available that time; they were some others.  The other did not make it because they did not get enough publicity and attention.

You are right ; its why waves makes a New bounty campaign in spite of a rapid increase of its funded accounts .

[EthereumFreedom]

Are there any coins out there now that were started by an ICO and are legit now?

Ethereum.

[lx001]

Are there any coins out there now that were started by an ICO and are legit now?

One of the first should be NXT, as far as I can remember, back in 2013.