[ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 320.

Shahrul09

sr. member

Activity: 504

Merit: 251

Quote from: ngin-x on June 23, 2017, 04:52:48 AM

Quote from: Sampey on June 23, 2017, 04:31:11 AM

Just a question : how many of you did really understand how bancor works?
How many really understand the difference between trade bancor over an exchange (where price is made by humans) or directly from the bancor contract address (where price is made by the algorithm).

A lot of confusion here Roll Eyes

I'll be honest. I had no idea how bancor trade works directly over contract address but I googled and read the official blog to learn all about it.

It's a fascinating concept to use smart contracts for trading but what determines the price they are exchanging tokens at?

"USING THIS CONTRACT WILL PURCHASE BNT AT THE PRICE EFFECTIVE WHEN THE TRANSACTION IS PROCESSED. THERE IS NO WAY TO LIMIT THE PRICE."

This is very ambiguous to say the least. I'd rather trust an exchange where humans trade rather than an algorithm deciding the price for me especially when there is no way to know beforehand the rate I'll get.

Check the current smart contract price in their official website

https://www.bancor.network/bnt

ngin-x

full member

Activity: 308

Merit: 100

Quote from: Shahrul09 on June 23, 2017, 03:37:35 AM

Quote from: abakr on June 23, 2017, 02:58:50 AM

TOTAL SUPPLY
81.862M Cheesy

With each purchase through smart contract , new bnt will be created (bnt is unlimited) . Hence the supply increase , and this increase the value too

Won't this constantly dilute the value of existing tokens? Why should anyone hold then?

ssvenss

full member

Activity: 381

Merit: 101

Why can not I get tokens yet?

ngin-x

full member

Activity: 308

Merit: 100

Quote from: Sampey on June 23, 2017, 04:31:11 AM

Just a question : how many of you did really understand how bancor works?
How many really understand the difference between trade bancor over an exchange (where price is made by humans) or directly from the bancor contract address (where price is made by the algorithm).

A lot of confusion here Roll Eyes

I'll be honest. I had no idea how bancor trade works directly over contract address but I googled and read the official blog to learn all about it.

It's a fascinating concept to use smart contracts for trading but what determines the price they are exchanging tokens at?

"USING THIS CONTRACT WILL PURCHASE BNT AT THE PRICE EFFECTIVE WHEN THE TRANSACTION IS PROCESSED. THERE IS NO WAY TO LIMIT THE PRICE."

This is very ambiguous to say the least. I'd rather trust an exchange where humans trade rather than an algorithm deciding the price for me especially when there is no way to know beforehand the rate I'll get.

quintiilieo

sr. member

Activity: 420

Merit: 250

Hi manager how can i get bounty on social media if its not allowed to sign in on the site. Regards

Sampey

legendary

Activity: 2632

Merit: 1040

Just a question : how many of you did really understand how bancor works?
How many really understand the difference between trade bancor over an exchange (where price is made by humans) or directly from the bancor contract address (where price is made by the algorithm).

A lot of confusion here Roll Eyes

ngin-x

full member

Activity: 308

Merit: 100

Quote from: Shahrul09 on June 23, 2017, 03:44:20 AM

Quote from: ngin-x on June 23, 2017, 03:08:22 AM

Quote from: paulmaritz on June 23, 2017, 03:05:28 AM

Quote from: ngin-x on June 23, 2017, 02:52:19 AM

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

It is the prices of HitBTC's IOUs that give a skew picture. Wink

Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Cheesy

Lol. The price wont go down below 0.01eth. Not now. Period.

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.

Well where is this buy wall? Any whale can go to an exchange right now and eat up the entire order book and the price will collapse to zero.

paulmaritz

sr. member

Activity: 672

Merit: 274

Quote from: Shahrul09 on June 23, 2017, 03:44:20 AM

Quote from: ngin-x on June 23, 2017, 03:08:22 AM

Quote from: paulmaritz on June 23, 2017, 03:05:28 AM

Quote from: ngin-x on June 23, 2017, 02:52:19 AM

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

It is the prices of HitBTC's IOUs that give a skew picture. Wink

Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Cheesy

Lol. The price wont go down below 0.01eth. Not now. Period.

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.

Are there any whales that wish to go against this wall? Grin

Shahrul09

sr. member

Activity: 504

Merit: 251

Quote from: ngin-x on June 23, 2017, 03:08:22 AM

Quote from: paulmaritz on June 23, 2017, 03:05:28 AM

Quote from: ngin-x on June 23, 2017, 02:52:19 AM

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

It is the prices of HitBTC's IOUs that give a skew picture. Wink

Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Cheesy

Lol. The price wont go down below 0.01eth. Not now. Period.

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.

Shahrul09

sr. member

Activity: 504

Merit: 251

Quote from: leps on June 23, 2017, 02:43:01 AM

What is the real utility of Bancor? What does it offer to the real world? A mathematical way of trading?

Read

https://www.bancor.network/faq

https://www.bancor.network/static/Bancor_Protocol_Whitepaper_en.pdf

Shahrul09

sr. member

Activity: 504

Merit: 251

Quote from: abakr on June 23, 2017, 02:58:50 AM

TOTAL SUPPLY
81.862M Cheesy

With each purchase through smart contract , new bnt will be created (bnt is unlimited) . Hence the supply increase , and this increase the value too

bobq

sr. member

Activity: 1148

Merit: 307

I think the devs should also publish a little guide for all inverstors (I am one of them) who followed their instruction but didn't manage to buy and now have the problem to get back their ETHs from the contract they sent it to. I have no clue, nor probably the others have either.

cjmoles

legendary

Activity: 1176

Merit: 1017

Can somebody help me out here?

So....trying to figure this out....I read the white paper, watched the videos, perused this thread, bought around 20 bucks worth on trex, and now I'm trying to figure out why I need this token. Isn't the whole bancor concept a price stabilizing mechanism? I think I just bought two dollar tokens for four bucks a piece....Is there a reason to hold this token? Is anything from the bancor arbitrage formula actually going back into the contract to increase the tokens value, or is its value going to be tied to the value of the other tokens forever?

paulmaritz

sr. member

Activity: 672

Merit: 274

Quote from: ngin-x on June 23, 2017, 03:08:22 AM

Quote from: paulmaritz on June 23, 2017, 03:05:28 AM

Quote from: ngin-x on June 23, 2017, 02:52:19 AM

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

It is the prices of HitBTC's IOUs that give a skew picture. Wink

Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Cheesy

I follow a hold and see strategy! Grin

ngin-x

full member

Activity: 308

Merit: 100

Quote from: paulmaritz on June 23, 2017, 03:05:28 AM

Quote from: ngin-x on June 23, 2017, 02:52:19 AM

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

It is the prices of HitBTC's IOUs that give a skew picture. Wink

Hmm that makes sense but it's still trading at a premium to the ICO price. Wonder if it's gonna go below that. Wishful thinking ha ha Cheesy

paulmaritz

sr. member

Activity: 672

Merit: 274

Quote from: abakr on June 23, 2017, 02:58:50 AM

TOTAL SUPPLY
81.862M Cheesy

24h Volume $7,588,480 Grin

paulmaritz

sr. member

Activity: 672

Merit: 274

Quote from: ngin-x on June 23, 2017, 02:52:19 AM

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

It is the prices of HitBTC's IOUs that give a skew picture. Wink

abakr

sr. member

Activity: 1736

Merit: 254

TOTAL SUPPLY
81.862M Cheesy

ngin-x

full member

Activity: 308

Merit: 100

Did the price crash or this is how it started trading? The graph at Bittrex looks weird. It's almost as if the roof collapsed on this coin.

leps

hero member

Activity: 918

Merit: 1001

What is the real utility of Bancor? What does it offer to the real world? A mathematical way of trading?

Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 320. (Read 375909 times)