Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 318. (Read 375825 times)

Same as mine usually when social media bounty is up. we can access to the site and see how many bounties we gain but now its redirected to messenger wechat telegram. In short how can we claim our bounties here. Thats the biggest question. Bot doesn't have /help to use for direction.

During ICO I have followed the Bancor tutorial trying to buy BNT tokens but it didn't work (tutorial was badly made, at least for people with no experience with smart contracts) out and now I have 1 ETH lost in Limbo.
ETH was sent to Contract 0xd76b5c2a23ef78368d8e34288b5b65d616b746ae (BancorEtherToken) but since transaction never completed no token arrvived to me.
So how can I get now my ETH back or alternatively complete the transaction and get the BNT tokens?
Since the bad tutorial is the cause of this problem I think someone of the Bancor stuff should not make a tutorial on how people like me can get their ETHs back.
But of course also any suggestion by the community is welcome.

the same ask,  can  somebody  help to figure out  1 BNCHDL= ?  BNT ,   I  got  some  bounty tokens of  BNCHDL.

can anyone help me, what difference BNCZUK with BNT?
what is the value 1BNCZUK = 1BNT? because from bancor protocol payment with BNCZUK and it will convert to BNT
thanks

Good pfotoshop

It's already done a 2x    for those that paid attention ... some whale apparently tested throwing 1M Eth into the contract, so imagine 

It would be nice if somebody will explain this project using normal language for normal users/people. I am really confused    and I think I am not the dumbest in the world 

Much cheaper but I think it would take less than a year to reach at the same level where ETH is right now. This platform is build from scratch so this unique ecosystem potentially looking next big thing. After a week price would 2x value from the current level.

I think it's supposed to be the other way around and BNT is supposed to be the reserved token that binds the others together. So, as more tokens are tied to the project, the demand for BNT will increase....But, I actually had the same concerns that you brought up here.  I'm still not sure if I have the whole concept down...it would help to have a few more examples of how this project might benefit the ICO investors.

just a nice example of how marketcap sites using HitBTC prices screws with newer potential investors...and this market isn't growing because of crypto-nerds getting bonuses at work...

I hope people stop defending this site as a logical demand being filled in this market...I feel like ICO's are essentially the best trades one could make if they pick the right project why trade 'currently-in-ICO' tokens for 5-10x prices xD

Oh well you're in the wild-west of markets you're gonna see some weird stuff.

Just when I thought it was getting more legit T_T

My brain hurts.

So there is  a buyback function, it invokes a price floor of 0.01 ETH. I understand that part.

But also there is this strange BNT generation smart token thingy which means the increase in value will be infinitesimally small when new BNT is purchased? And the supply is unlimited?

What's the point? I can see the point in hodling a coin long term, but even Gnosis went up like 7 times so the lucky few who got in, could sell a few and hodl the rest.

BNT is almost like USDT, isn't it? It's sort of tethered to ETH. That is super boring, no risk, no reward, I cannot see the point. 

I can see the point of bancors business model, but how do BNT owners benefit? 

i like cheap bancor on bittrex for 0.0015

in one year BANCOR will be next ETH 

sell more pleeeeaseeeeeee

Tokens have better value and price control and that is the key to using currency in a real-time, real-world environment.  You guys are close to stating the fact, but I just wanted to fully clarify what that can mean to  the everyday user.

and what you were thinking? they sold so fck big amount of tokens that they will not gain value soon, because everybody was able to get them so they are not rare at all

Yes they have buy back wall.




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.

'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.

Bancor's smart contract exchange rates will always be more or less in sync with the broader market rates. Otherwise people will arbitrage the hell out of it.

At the moment the rate is low because there is huge sell pressure at the exchanges. I don't know why people are selling but this is a golden opportunity to get some cheap tokens. I doubt we will ever see these prices again. I'm stocking up as much as possible. I suggest you do the same.

Has anybody think it will raise up? Bancor is selling token their own smart-token contract with  low price than market and it will be make market down. I don't know will i run or not from this token.

I just saw that this got launched on Bittrex. Is it true that within the Bancor Network itself there is a buy wall at the ICO price that will be held up for 2 years?

Is it true that one of the main critics of Bancor is a shill?

Prof. Emin Sirer

Here's a reddit link:
https://www.reddit.com/r/Bancor/comments/6il9p4/lets_boycott_tezos_emin_g%C3%BCn_sirers_ico_boycottezos/


Here is a link from the Bancor founder countering every bit of mud thrown at Bancor (pretty interesting read)
https://blog.bancor.network/this-analysis-of-bancor-is-flawed-18ab8a000d43

Bancor seems to have very strong leadership, and it also has the Euro creator and is advised by Tim Draper.

Seems like a worthy buy. Where will BNT be in 3 years?

Er no you dont.

I registered with the account from day 1. Its still the same, they prompt you with initially only two option back then, telegram and fb messenger.
The apps linked with social media messenger so that their bot can work.
Since day 1.

Never ever they ask you to register with email