Ughhh i dont know why that guy try so hard here. This is bancor thread of course ppl in here believe in bancor.
I written there 'even if the transaction not get clogged'
What the team done after the clogged transaction happen, they extend the time limit to 3 hour( that not wrong at all for me becaus the cap not even reach yet at this time) and then they need to find a way to send stop order through the clogged transaction whic fail btw. So?
Any investor that dont like with that can liquidate after this.
They 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.
Thats a 120k eth buy back wall at ico price.
Idk why this guy so bitter bout this.
Proud with his reddit peers, but in the fud thread about bancor there all making stupid accusation, didnot even read whitepaper and grasp concept., just listen to hearsay. Lol
The team react according to situation. He salty this ico can get huge amount. Lol
That might not be wrong for you, but it is for pre-ico investors and investors < 1hour. Rules are rules. A buddy of a friend of mine has invested close to a million USD and he's not happy with this ico launch and we are not alone. If you broaden your horizon and google, you see a lot of people don't like such ico launch at all, especially extending the time and those are prominent players in the crypto scene.
If you don't know why this buyback contract is bad, I can't help you. It's financially not in your interest vs liquidity, nor in risk assessment. One of the first thing you learn in college and business school...
Yeah, exactly just what you've said you prove my point... you just follow what others say... One day, you'll pay the bill and they don't. Maybe that's the day you decide to live your life on your own terms
I only read till the part that you say they should stop at 1 hour.
Coz at this point you clearly dont read properly.
Why waste my time reading the fud.
They have no reasons to stop in 1 hour even if there no attack and no clogged transaction
because the cap not even reach yet at that time.
Duration: The fundraiser will run for 14 days or until the hidden cap is reached, with a 1 hour minimum time.
https://blog.bancor.network/bancor-network-token-bnt-contribution-token-creation-terms-48cc85a63812You're proven me correct that most of you are a bunch of idiotic sheeple without intelligence.
Reading is hard, huh? And no arguments given, again, no surprise. The fact that you say it yourself that "Coz at this point you clearly dont read properly" means you don't understand anything what you read, which may be a sign of a mental attention disorder.
Quote:
"Clause 14: Initial creation period is
either one hour or until the hidden cap has been reached. It must be at least one hour, but when the hidden cap has not been reached, it will be longer.
Clause 15: Here it clearly states the minimal initial
creation period is 1 hour long. Not more. Not less.Clause 16: "After the Minimal Initial Creation Period,
the Initial Creation Period automatically ends once the Hidden Cap as implemented in the SCS has been reached."
So, the "Minimal Initial Creation" period is one hour long. After that time is up, we're into the Initial Creation Period, which terminates once the hidden cap has been reached. The hidden cap was 250k ETH.
250k ETH was reached at 2 hours, which is after the "Minimal Creation Period" that is very clearly stated to be 1 hour long. Because the hidden cap was reached after the "Minimal Creation Period", the hard cap ends the ICO."
Clearly, you talk non-sense, because it went longer than 2 hours up to
3 hours. Again, where are your arguments?
They're clearly in violation of their own T&C, yet you keep defending with ZERO arguments, pathetic!Just as DigitalNinja is shilling and acting like a clown, by spouting bullshit and opinions, which his posts show only activity in this thread @
https://bitcointalksearch.org/user/digitalninja-1008945
Contract law (crying laughing face) you do know that a contract has to be signed in wet ink by all parties to stand in law? I sure didnt sign any contract hahaha. I stopped reading there because i know that
See this intelligence of @ DigitalNinja. Contracts don't have to be signed in "wet ink by all parties". You must be blind that one of the other terms was that you're not a US citizen/resident and by contributing, you have given
consensus to this case, which is enough to be used in court against you. You clearly don't understand law at all. For example: Clicking on the terms and agreements at Paypal account creation, you're already binded by the terms in court. I'm getting tired of stupid people like you.
Ok and how exactly does a court prove it was you the (human being) that clicked those terms? If you study common law you will soon realise you are very wrong. This account has a low post count my other does not.
edit - Cryptodude is 1 salty as fk troll. ive seen so many of these types eat their words its unreal. have fun cryptodude while it lasts meanwhile the rest of us will carry on supporting this project. go and pick the toys up you have thrown out of your pram child.
Clearly, you talk from out of your ass,
once again. That's why this forum needs moderation like Reddit and Steem, to keep stupid people in their place. They just clutter meaningful discussions on purpose.
You talk as if you know law, which clearly you don't. The plaintiff need to provide evidence, not the other way around. That's why bank accounts require your personal information to link and that's why governments, eu and un don't want privacy in the blockchain, because they cannot identify who the transaction holder is. Your question is rhetoric and I don't know if it's legit or just plain stupid. In either way, that doesn't bring legitimacy to your claim that others don't know the law, when in fact you don't know jackshit about contracts, but act like you do with plain lies.
It ceases to amaze me that people that are so wrong never admit they're and keeping going without any shame or guilt. Again, refering to a possible solution how to mitigate that in my first paragraph, possibly with a permanent rating system coupled to passports and passed history in work and education for in the next blockchain solution, that would be nice.
I only read till the part that you say they should stop at 1 hour.
Coz at this point you clearly dont read properly.
Why waste my time reading the fud.
They have no reasons to stop in 1 hour even if there no attack and no clogged transaction
because the cap not even reach yet at that time.
Duration: The fundraiser will run for 14 days or until the hidden cap is reached, with a 1 hour minimum time.
https://blog.bancor.network/bancor-network-token-bnt-contribution-token-creation-terms-48cc85a63812You're proven me correct that most of you are a bunch of idiotic sheeple without intelligence.
Reading is hard, huh? And no arguments given, again, no surprise. The fact that you say it yourself that "Coz at this point you clearly dont read properly" means you don't understand anything what you read, which may be a sign of a mental attention disorder.
Quote:
"Clause 14: Initial creation period is
either one hour or until the hidden cap has been reached. It must be at least one hour, but when the hidden cap has not been reached, it will be longer.
Clause 15: Here it clearly states the minimal initial
creation period is 1 hour long. Not more. Not less.Clause 16: "After the Minimal Initial Creation Period,
the Initial Creation Period automatically ends once the Hidden Cap as implemented in the SCS has been reached."
So, the "Minimal Initial Creation" period is one hour long. After that time is up, we're into the Initial Creation Period, which terminates once the hidden cap has been reached. The hidden cap was 250k ETH.
250k ETH was reached at 2 hours, which is after the "Minimal Creation Period" that is very clearly stated to be 1 hour long. Because the hidden cap was reached after the "Minimal Creation Period", the hard cap ends the ICO."
Clearly, you talk non-sense, because it went longer than 2 hours up to
3 hours. Again, where are your arguments?
They're clearly in violation of their own T&C, yet you keep defending with ZERO arguments, pathetic!Just as DigitalNinja is shilling and acting like a clown, by spouting bullshit and opinions, which his posts show only activity in this thread @
https://bitcointalksearch.org/user/digitalninja-1008945
Contract law (crying laughing face) you do know that a contract has to be signed in wet ink by all parties to stand in law? I sure didnt sign any contract hahaha. I stopped reading there because i know that
See this intelligence of @ DigitalNinja. Contracts don't have to be signed in "wet ink by all parties". You must be blind that one of the other terms was that you're not a US citizen/resident and by contributing, you have given
consensus to this case, which is enough to be used in court against you. You clearly don't understand law at all. For example: Clicking on the terms and agreements at Paypal account creation, you're already binded by the terms in court. I'm getting tired of stupid people like you.
"most of you are a bunch of idiotic sheeple without intelligence" - Thanks for the compliment!
You falsely quote: “Clause 14: Initial creation period is either one hour or until the hidden cap has been reached. It must be at least one hour, but when the hidden cap has not been reached, it will be longer.”
This while the
BNT Creation and Bprotocol Foundation Contribution Terms and Explanatory Note (
https://bancor.network/static/BNT_Creation_and_Bprotocol_Foundation_Contribution_Terms.pdf) clear state:
“Initial Creation Period: The Initial Creation Period starts on June 12, 2017, at 14:00 GMT and lasts for a maximal duration of 14 days (“Duration of Initial Creation Period”) or until a hidden cap implemented in the SCS (“Hidden Cap”) has been reached, whichever is earlier. In any event, the Initial Creation Period will last for a minimum of 1 (one) hour” In other words: The minimum duration is 1 hour and the maximum 14 days.
You falsely quote: “Clause 15: Here it clearly states the minimal initial creation period is 1 hour long. Not more. Not less.”
It is clearly stated in the Terms and Explanatory note:
“Minimal Initial Creation Period: Independent of the Hidden Cap, the Initial Creation Period will in any event last for 1 (one) hour” In other words: The initial creation period must at a minimum be 1 hour long. Common sense dictates, according to what’s stated, that they were well within their rights to go over 1 hour.
Furthermore, you state: “Clause 16: "After the Minimal Initial Creation Period, the Initial Creation Period automatically ends once the Hidden Cap as implemented in the SCS has been reached."
“Hidden Cap: After the Minimal Initial Creation Period, the Initial Creation Period automatically ends once the Hidden Cap as implemented in the SCS has been reached. The amount of the Hidden Cap will be communicated once contributions amounting to 80% of the Hidden Cap have been recorded in the SCS. In case Contributions during the Minimal Initial Creation Period exceed the Hidden Cap, 20% of the exceeding Contributions will be allocated to the ETH Reserve Balance. The remaining 80% of the exceeding Contributions will be locked for two years in a smart contract serving the purpose of stabilizing the BProtocol ecosystem by purchasing BNT (at the price of 0.01 ETH). After the two-year lock-up period, remaining ETH will be allocated to the Foundation to be used in accordance to para 33” So nice you spend time entertain this kind of ppl
He did not even understand what the 2 year contract do.
I've already explained how this shitty 2 year contract reduces roi, carries high risk or even a loss. You stupid people just don't read, because "I'm too lazy" and "my opionion is fact". You are not investors, but little fish wannabe investors.
So what are you trying to prove? It clearly is in my advantage, because these changes in words of terms are
effectively the same as in the unedited version. Good riddance.
Can you understand what the meaning is of my critique? Or do you need a teacher to explain what you read, because you are not able to on your own? Difference between idiots and successful intelligent people: The former read, the latter understand. In real life, this manifests in employees vs entrepreneurs and venture capitalists. That's a golden nugget for you, you know who you're.
Please defend yourself how both these terms does not violate their own terms. Cap is reached, yet going for another 1 hour. That's right, nobody defends this. Bunch of pathetic clowns. Trying to steer attention away from the main issue. Why nobody of you 4 clowns are talking about this. You don't even have an opinion? Why you have an opinion of everything else? Fools these mortals be.
This is just critique and people (again, this shows enough who these 3-4 people are) think I'm attacking the project or bancor, which I'm not at all. I support this project and team, it's interesting and could hedge against volatility.
