Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 315. (Read 375825 times)

They have benchmarked Bancor against ETH. So if ETH keeps going down against BTC, naturally Bancor will fall too. Yes, compared to BTC, we are below ICO price now.

Bancor is traded against BTC. when you open Bittrex you see BTC/BNT which is 0.00130. That's under ICO price.
ETH/BTC was 0.14 at that time. Now if you want to buy Bancor you can pay 0.001 BTC cheaper and get it. BTC is all that matters for me.

Even more funny is that the majority of them always lose in the end, only very minority actually returns investment, but these success stories keep attracting new suckers like smell of shit attracts flies, again and again. Stupid people don't realize that a legit ICO is like a pizza, it can feed only limited number of people. If you split pizza into 12 slices, you can feed 12 persons, but if you split it in 1000 slices, you can feed nobody, because each slice is too small. What ICOs use to do is they split their pizza into million of slices and then sell each slice at a prise of whole pizza. You don't have a pizza, you dumb retards, each of you has a microscopic pizza crumb WHAHAHAHA

Funny thing nowadays people don't even bother to read the white paper. They just put the money on ICOS like gambling.
Then you see some crappy projects multiplying their ICO price on a couple days but they complain because Bancor is not doing that..

Yes, it's not their fault but I expected whales to hold the price for at least ICO price. Isn't that weird? Maybe they do that for purpose, they hold coin price under the ICO so bounty hunters will sell their coins cheaper. I don't know but it's not looking good for investors eyes.

Hardly their fault that too many dumb people gave them too much money. The project have absolutely zero responsibility for their own market price.

No, it was 0.14 BTC for 100 BNT because ETH was 0.14 BTC back then.
And 1 ETH = 100 BNT is ICO price. It's under the ICO price now.

I thought ico price was 0.01? its still higher than ico price right? and it has a buyback reserve at ico price, so its pretty safe. Plus the more coins that use it as a reserve the higher its price will be, give it time.

correct me if i am wrong.

Huge dump on Bancor. I bought at ICO but already in a loss now. It's sad to see a dump after this type of big ICO. They raised 120 million dollars but they can't even hold ICO value in exchange.

Irrespective of how good or bad an idea this is, it is shoddy to judge its value based on number of lines of Solidity code in the smart contract.

Hi everyone!


Guys, tell me please, what about bounty which was end? Many people in Russian thread discuss "When the BNCZUK or BNCHDL or any BNC pre-token will be exchange on BNC?"

Maybe i lost any news about this theme, but i still wait and trust, because im participled too.

Thanks about any news.

https://www.bancor.network/faq/general

Yes BNT token is unlimited. But with the increase number of token, the value will go up along with it.

'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.


Now the activation of smart contract is just the beginning. This smart contract just the basis of bancor.

Bancor network token (bnt) will be used as a default reserve when people want to create smart token in its platform.

The BANCOR network token is the Genesis smart token to be deployed, establishing the BANCOR network, functioning as its native currency. The BANCOR token will hold a reserve in ETH.

BANCOR tokens will be issued in a crowdsale. The crowdsale proceeds will be used to deploy and continuously evolve a user-friendly web/chatbot interface for issuing and using tokens in the BANCOR network, to support various efforts for growing the network such as investing in the reserves of new tokens, and to make the initial deposits required to set up a new type of high liquidity decentralized token exchange network based on the Bancor protocol, using 100% CRR token changers.

All smart tokens issued within the Bancor network will hold the BANCOR token as a reserve (though they may also hold additional reserve tokens.) This means that an appreciation in the value of any of the network’s smart tokens will appreciate the value of the BANCOR network token, benefiting all other smart tokens in the BANCOR network, since their reserve balance value will increase.

BANCOR will also be used as a reserve for the token changers that make up its decentralized exchange network. A BANCOR token changer is basically a smart token that holds a 50% CRR reserve in BANCOR, and 50% CRR reserve in an existing, standard ERC 20 token (e.g. REP, GNT, RLC) allowing end-users to easily convert between the two by buying the smart token with one reserve token and selling it for the other. In the future, Bancor plans to support additional tokens as well.

Response to “Bancor is Flawed”: https://blog.bancor.network/this-analysis-of-bancor-is-flawed-18ab8a000d43

"You continue to ignore the 60K+ lines of code which power our live-on-mainnet bounty program and public alpha where users can create smart tokens by answering a few questions via a chatbot and utilize a comprehensive webapp compatible with desktop and mobile browsers.

After 20 years of software development across different startups, we simply don’t share your view that this work is worthless. There are very few Ethereum apps that are as easy to use, and just like Coinbase made Bitcoin/Ether accessible to millions, we plan to do the same for user-generated tokens (at first on Ethereum), and we believe that the prospects of that use-case are incredibly exciting.

Also, Martin Koppelmann, the CEO of Gnosis, tweeted a reply to you that their core smart contract codebase is not much bigger, and that it is a good practice to keep the smart contract functionality to a minimum. We do not agree with your method of measuring the value of a protocol by the number of lines in the Solidity code of the smart contract as valid or rational. It would absurdly suggest that solutions such as Coinbase do not add value to the Bitcoin protocol. Or that enormous code bases are somehow inherently more valuable. We encourage you to try out the demo of the product which has won awards at every blockchain competition it was demonstrated at around the world. The idea here is to make token creation as simple as uploading a video to YouTube. We think this is a profound opportunity for the crowd to participate in value creation, beyond content."

Why would one professor undermine his reputation, i think this is worst that can happen to their profession?

As i understood this is most successful ICO ever, but what is happening with price, this is still around ICO price? Also i would like something to be clarified this token doesn't have endless supply?

https://bittrex.com/Market/Index?MarketName=BTC-BNT

https://liqui.io/#/exchange/BNT_BTC

As well as you can buy/sell through smart contract.

https://www.bancor.network/bnt

https://blog.bancor.network/how-to-trade-your-bnt-on-myetherwallet-bd91ebd78c9d

Well, I wrote a piece for Hacked.com before the ICO and said all you were getting for your money was 40 odd lines of code nothing more and not even a high-level code.I don't own any and never will so I will not spend time on this thread putting it down or rehashing the article but anybody that has any sense will see through this debacle straight away.

Is this on an exchange already?

Read Bancor's response to the professor. They rubbish his FUD through facts and facts alone. Just because the DAO team made mistakes by ignoring real concerns, doesn't  mean that the Bancor team is doing the same. This is why the Bancor team took the time to provide a lengthy response to the professor's FUD. They also delayed the release of the tokens to make sure that they don't make the same mistakes as DAO. It is important to compare apples to apples here. It is also important to understand that there are many bought and paid for professors out there.

P.S. The moment someones says "professor" or "expert," my inner self immediately, rightly or wrongly, sends out an asshole alert!

There is no doubt some people will be jealous of Bancor ICO success, but I could remember vividly warning like this pop up after DAO ICO and was taken with pinch of salt, we all know how that ends, it will be fool of Bancor team to rubbish the prof. concerns

The prof is tezos advisor. So...