I think we need to use big red letters for the devs to actually answer this question.
Why have you decided on capping the ICO at 260 million dollars?
It is right there in the contract. And it is too high. Since you are selling only 50% coins in that presale, that would make the market cap of Bancor at 520 million dollars. You can arbitralily chose the hard cap and set it to 50 million or 150 million, so why do you want to set it at exactly 250 million dollars and not lower despite the community asks you to do so? Many people were rising this question and the team denies to answer it. Why do you want 260 million dollars? And if you don't wan't that much, why do you avoid capping the ICO lower?
Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 409. (Read 375825 times)
June 09, 2017, 12:18:11 AM
June 08, 2017, 11:38:52 PM
AlfredHard, just a quick tip from a more experienced cryptocoin enthusiast: Do you understand how Bancor works and in which ways it can be useful? If so, build your own opinion whether to invest or not. If no, don't invest. This is one of the key questions I'm asking myself before supporting an ICO. Never base your investments on other opinions.
June 08, 2017, 11:34:12 PM
Bancor is building a decentralized exchange that is always liquid. And to achieve that they need a lot of money in their reserves as a financial backing and in order to have constant liquidity.
For example, let's say that you are creating a brick and mortar exchange in the real world. You are going to need a lot of money in different currencies and specially in the local currency, right?
Because money in different currencies is your "product" and your clients are going to want to trade A for B, B for C, C for A...
If you don't have money, you can't exchange currencies with your clients, if you don't convert currencies you don't get a commission, no commission no profit. No profit no home nor food.
Therefore, Bancor, in order to attract people and supply their demand to trade coins, needs to have "small exchanges" (composed by special Smart Tokens that posses the role of a real world exchange) available and ready to trade. What I think it is happening is that their idea is gaining so much traction that they don't want to have low liquidity when launching.
For example, let's say that you are creating a brick and mortar exchange in the real world. You are going to need a lot of money in different currencies and specially in the local currency, right?
Because money in different currencies is your "product" and your clients are going to want to trade A for B, B for C, C for A...
If you don't have money, you can't exchange currencies with your clients, if you don't convert currencies you don't get a commission, no commission no profit. No profit no home nor food.
Therefore, Bancor, in order to attract people and supply their demand to trade coins, needs to have "small exchanges" (composed by special Smart Tokens that posses the role of a real world exchange) available and ready to trade. What I think it is happening is that their idea is gaining so much traction that they don't want to have low liquidity when launching.
I don't think you understand how Bancor works
June 08, 2017, 11:23:53 PM
I was late on the forecasting i just got the email about it good luck to those who got in my forecast would be close 13M USD.
June 08, 2017, 11:22:31 PM
Bancor is building a decentralized exchange that is always liquid. And to achieve that they need a lot of money in their reserves as a financial backing and in order to have constant liquidity.
For example, let's say that you are creating a brick and mortar exchange in the real world. You are going to need a lot of money in different currencies and specially in the local currency, right?
Because money in different currencies is your "product" and your clients are going to want to trade A for B, B for C, C for A...
If you don't have money, you can't exchange currencies with your clients, if you don't convert currencies you don't get a commission, no commission no profit. No profit no home nor food.
Therefore, Bancor, in order to attract people and supply their demand to trade coins, needs to have "small exchanges" (composed by special Smart Tokens that posses the role of a real world exchange) available and ready to trade. What I think it is happening is that their idea is gaining so much traction that they don't want to have low liquidity when launching.
For example, let's say that you are creating a brick and mortar exchange in the real world. You are going to need a lot of money in different currencies and specially in the local currency, right?
Because money in different currencies is your "product" and your clients are going to want to trade A for B, B for C, C for A...
If you don't have money, you can't exchange currencies with your clients, if you don't convert currencies you don't get a commission, no commission no profit. No profit no home nor food.
Therefore, Bancor, in order to attract people and supply their demand to trade coins, needs to have "small exchanges" (composed by special Smart Tokens that posses the role of a real world exchange) available and ready to trade. What I think it is happening is that their idea is gaining so much traction that they don't want to have low liquidity when launching.
June 08, 2017, 10:57:47 PM
I like the solutions brought to the table! Good job guys
June 08, 2017, 10:42:58 PM
how much do you think they will raise in 1hr? I'm guessing 600m now thanks to the moral hazard created by essentially guaranteeing a floor price. 
Where do you see the price in 6months, 1 year?
Where do you see the price in 6months, 1 year?
I think because of the 1 hour grace, alot of investors will be looking at the address to see if the fund is over subcribe to, I will definitely wait for 30 mins before investing at all. I personally don't see the need of giving money to some who don't need it. The back back idea I don't buy it. This should be a free market
June 08, 2017, 10:40:04 PM
What do you think of this?:
https://www.reddit.com/r/ethtrader/comments/6fmj9w/bancor_ico_analysis_scam/
Bancor looks very promising, but all the talk about the ICO being risky because of the unlimited/hidden cap could make that a lot of people don't want to risk their money investing on this. Like Mulder, I want to believe, but I really don't know what to think about it, I see people saying this will be a great opportunity and a lot of people warning about it being too risky, I wouldn't like to invest money on this ICO and then find out that next day the coins (or tokens or whatever they are called) have lost half of their value.
https://www.reddit.com/r/ethtrader/comments/6fmj9w/bancor_ico_analysis_scam/
Bancor looks very promising, but all the talk about the ICO being risky because of the unlimited/hidden cap could make that a lot of people don't want to risk their money investing on this. Like Mulder, I want to believe, but I really don't know what to think about it, I see people saying this will be a great opportunity and a lot of people warning about it being too risky, I wouldn't like to invest money on this ICO and then find out that next day the coins (or tokens or whatever they are called) have lost half of their value.
What is risky? Want all to end up in the hands of 50 people, again?
I'm glad Bancor tries to keep cryptocurrency in line, decentralized and for the little guy too
I agree that it's great that everybody can potentially participate on this, and if after the ICO the coin price is stable and with time goes up because the project is really good, then that would be fantastic, but I keep reading that for some reason I really don't fully understand if there is no cap and everybody can buy for 60 minutes that could mean that the coin value will be much lower after the ICO and that could mean that most investors (including the little guy) would lose money. And if it was just some money, meaning a 5%-10%, then, well, it's an acceptable risk and maybe with time the coin value goes up and this could be a good investment, but if half of the value is lost in a day (or a week, idk), then obviously a lot of people could be mad for having invested so soon when they could have waited and get many more coins for the same money they used to invest before.
I really have no idea if the coin value will be lower after the ICO, I'm just commenting what I've read somewhere else (youtube, reddit, other message boards), if you or anyone else know some reason why people talking about this potential price drop after the ICO are wrong, then I'll be glad to read what you have to say. I'm really interested on this, it looks like it has potential, but I'm just concerned about what other people are commenting. I have ZERO experience with ICOs and cryptocurrency in general, I'm just trying to learn about it these days because I find all of this very interesting, but I obviously have no idea about what is going to happen with Bancor or with any other altcoin.
Maybe I'm missing something in their protocol. But there's no difference between people buying more tokens and a price drop post ICO. If anything, people buying more tokens means less available which means price goes up..
I mean the only logical explanation for that is if everybody buys ICO, who's going to buy after to keep the price risinf? But to stipulate that it's going to drop 50% is prettt darn stupid if you ask me
Here's what I see:
Cap it too low and the whales feast.
No cap and the lemmings suffer (this will run well beyond its proper value due to the hype).
Spend time to cap it accurately and the whales and lemmings both get a piece of the pie without blowing past overvaluation.
Running 1 hour uncapped is a phenomenal move for Bancor, manageable for the whales, but BAD for the lemmings. Whales aren't affected as much because they will hold volume nonetheless, but the real punch to the face here is going to be handed to the lemmings because they will need to chase higher yields in an already inflated market cap starting day 1. Yeah there's the long-term investment mindset, but if the uncapped ICO goes nuts I don't see the point investing in something that will be its 5 year future value on day 1.
One thing is for certain and that's Bancor is about to get PAID.
Cap it too low and the whales feast.
No cap and the lemmings suffer (this will run well beyond its proper value due to the hype).
Spend time to cap it accurately and the whales and lemmings both get a piece of the pie without blowing past overvaluation.
Running 1 hour uncapped is a phenomenal move for Bancor, manageable for the whales, but BAD for the lemmings. Whales aren't affected as much because they will hold volume nonetheless, but the real punch to the face here is going to be handed to the lemmings because they will need to chase higher yields in an already inflated market cap starting day 1. Yeah there's the long-term investment mindset, but if the uncapped ICO goes nuts I don't see the point investing in something that will be its 5 year future value on day 1.
One thing is for certain and that's Bancor is about to get PAID.
RIP Bancor ICO
What I don't understand well is the price value of BNT when post ICO.
Right now, 1 BNT looks like it will be around $2.50 USD possibly closet to 3.00USD if ETH keep going up.
The part I don't understand is that if market cap reaches 500 million at ICO, hypothetically, then this will devalue my BNT? So 1 BNT could be worth a lot less than 2.50 USD after ICO due to more investors pumping more money? Someone explain this to me.
Right now, 1 BNT looks like it will be around $2.50 USD possibly closet to 3.00USD if ETH keep going up.
The part I don't understand is that if market cap reaches 500 million at ICO, hypothetically, then this will devalue my BNT? So 1 BNT could be worth a lot less than 2.50 USD after ICO due to more investors pumping more money? Someone explain this to me.
If they do it this way, it doesn't evenm atter if they raise 100 or 200 or 500 million.
The name Bancor will be tarnished before it even starts.
With such a high profile project, you have to know beforehand what you need to realize your product. Don't collect as much cash as possible, from with 20% or whatever goes to the devs and founders etc. And then the "hidden" cap...
They take a large part of the reward away from the investors, heavily increase their risk, and give themselves heaps of spare cash for lamborghinis.
Sometimes you have to be "hard" and set a cap, or find some other way. But the team saying "we take as much money as possible" instead of "we need 30 mil for x, 50 mil for x+y" is simply unprofessional.
If they don't provide a different solution, capped in one way or the other, I will sadly have to ask nicolai to return my funds.
Oh right, I was told there'd be a cap and paid a fee to secure a spot ...
The name Bancor will be tarnished before it even starts.
With such a high profile project, you have to know beforehand what you need to realize your product. Don't collect as much cash as possible, from with 20% or whatever goes to the devs and founders etc. And then the "hidden" cap...
They take a large part of the reward away from the investors, heavily increase their risk, and give themselves heaps of spare cash for lamborghinis.
Sometimes you have to be "hard" and set a cap, or find some other way. But the team saying "we take as much money as possible" instead of "we need 30 mil for x, 50 mil for x+y" is simply unprofessional.
If they don't provide a different solution, capped in one way or the other, I will sadly have to ask nicolai to return my funds.
Oh right, I was told there'd be a cap and paid a fee to secure a spot ...
Could be very important. Nobody wants to have bad reputation with that system. We need a max cap.
Indeed the project is wonderful but nobody wants this situation... one hour...
We need a vote !
Indeed the project is wonderful but nobody wants this situation... one hour...
We need a vote !
WOW, I invested my money, paid $100 to bitcoin suisse, they told me there is a hard cap
Then last minute: Actually we have uncapped 1hour sale, and then a "secret" hard limit
Is this some joke, why do you think you can scam the public like this ? Why is the marketcap being forced to well over 100M for a coin that hasn't done anything yet ?
Why did I pay bitcoin suisse fee if you have an uncapped sale ?
Scam coin, greedy devs trying to milk absolutely everything they can. Even though they hoarding 50% of all Bancor tokens it's not enough
Then last minute: Actually we have uncapped 1hour sale, and then a "secret" hard limit
Is this some joke, why do you think you can scam the public like this ? Why is the marketcap being forced to well over 100M for a coin that hasn't done anything yet ?
Why did I pay bitcoin suisse fee if you have an uncapped sale ?
Scam coin, greedy devs trying to milk absolutely everything they can. Even though they hoarding 50% of all Bancor tokens it's not enough
It's a scam, stay away!!!! They have announced a price of 100 bancor / 1 eth ($2.47 @current rate) AND NO CAP. Apparently they have a "hidden" cap that they will stop at, letting us know when 80% is hit, but not displaying how much they have raised. This isn't an ICO it's a get rich fast scam by the bancor team. Galia said she doesn't want investors to make money and doesnt' want volatility.. Disgusting attitude and a huge let down. The investors will be lucky to get 50% of their investment back when it hits the markets. This isn't what an ICO is meant to be, as in a win-win scenario where the investors get ROI and the projects gets funding.
I was removed from the telegram group after Galia couldn't respond to my questions. This whole thing is set up so investors don't make any money and the bancor team are happy with it. Galia said it herself.
I see that on slack Eyal pasted a more refined version of the crap:
"1. The most critical thing for us is to make sure that those who took the time to research and understand Bancor prior to the fundraiser will be able to participate. This is the reason behind the 1h minimum time.
2. This is not a fundraiser for quick-flip investors wanting to get in and make a quick profit. That is not the goal of the protocol, the foundation, the team, the product or the project.
3. A large fundraiser will mean a large reserve (more liquidity, less volatility) and more resources to make Bancor a success, which we have detailed plans to implement. More bounties, more community grants, more explanatory events, etc. We believe this is in the best interest of the contributors and the project, and we are the right team to execute this vision. For those looking to hold their tokens, which are the kind of contributors we are optimizing for, this seems to us the best configuration and we are doing careful planning for the spectrum of outcomes.
4. Re Bitcoin suisse, we created this option for those who wanted additional assistance or additional currencies with which to fund. As the terms structure was being delayed, we heard from many that they wanted to contribute no matter what, and were eager for an option to come online. There is no advantage to Bancor of having these funds come in early as they are held in escrow. There are no discounts or other contingencies. There was a preset amount allocated to this option which may or may not be filled, and has no material impact on the fundraiser nor it’s cap. It’s unfortunate to hear that some are frustrated with this option, as we truly set it up to be a helpful mechanism for those who wanted it, and to calm concerns about not getting in before we were able to share our minimum hour mechanism. This was also intended for those who knew they couldn’t be available later in the month regardless of a cap or no cap. That all said, If anyone feels slighted by the unfolding of events and would like to withdraw their ETH from bitcoin suisse, we have decided to cover the fee penalties ourselves.
5. Re Protocol in this group, we welcome all opinions. However, we insist on healthy and respectful dialogue, and will not tolerate unproductive behavior. Bancor is clearly not a scam. We can agree to disagree on points, and we can be convinced of points we’ve overlooked, but we’d like to keep the discussion here constructive and not further feed the frenzy engine that has plagued so many projects before us, and prevents both us and you from getting value from this forum. We will be banning users who do not adhere to this protocol, and again we welcome respectful dialogue on all points."
Now, let's analyse their bullshit.
1. EVERYONE is able to participate and has been able to participate for over a week via bitcoinsuisee.ch/bancor where people can pay in CFH, GBP, EUR, USD, DKK, SDG, Ether or Bitcoins, meaning the 1 hour un-limited cap is COMPLETE BS!
2. So this isn't a fund raiser the INVESTORS, the people who believe in you and want to help you secure funds so that you can get it off the ground and turn it into a viable project. The truth is this is purely for the greedy bancor team to get rich.
3. They believe that it is in the investors interest to have an UNCAPPED ICO, or as they put it with a "hidden cap" (LOLOLOLOLOLLOL), so that they don't make a ROI or maybe even their money back.
4. Here they are making out that investors are angry that we have bitsuisse as an option, this is BS, nobody said that. We are also told that the funds raised via bitsuisse, " has no material impact on the fundraiser nor it’s cap" - WTF? So regardless of how much is raised, it doesn't affect the cap? Off course it doesn't - because you don't have a cap, you will see how it goes and when the investments start slowing down you will say that you've reached 80% of your imaginary cap. IN A REGULATED MARKED THIS WOULD BE ILLEGAL.
5. If you question them or state that you are not happy with this shambles of an ICO scam they will eject you, what can I say.. disagree and you're out.. very classy.
Instead of using the ICO to raise funds to support the project, they are using it to get rich quick.
I was removed from the telegram group after Galia couldn't respond to my questions. This whole thing is set up so investors don't make any money and the bancor team are happy with it. Galia said it herself.
I see that on slack Eyal pasted a more refined version of the crap:
"1. The most critical thing for us is to make sure that those who took the time to research and understand Bancor prior to the fundraiser will be able to participate. This is the reason behind the 1h minimum time.
2. This is not a fundraiser for quick-flip investors wanting to get in and make a quick profit. That is not the goal of the protocol, the foundation, the team, the product or the project.
3. A large fundraiser will mean a large reserve (more liquidity, less volatility) and more resources to make Bancor a success, which we have detailed plans to implement. More bounties, more community grants, more explanatory events, etc. We believe this is in the best interest of the contributors and the project, and we are the right team to execute this vision. For those looking to hold their tokens, which are the kind of contributors we are optimizing for, this seems to us the best configuration and we are doing careful planning for the spectrum of outcomes.
4. Re Bitcoin suisse, we created this option for those who wanted additional assistance or additional currencies with which to fund. As the terms structure was being delayed, we heard from many that they wanted to contribute no matter what, and were eager for an option to come online. There is no advantage to Bancor of having these funds come in early as they are held in escrow. There are no discounts or other contingencies. There was a preset amount allocated to this option which may or may not be filled, and has no material impact on the fundraiser nor it’s cap. It’s unfortunate to hear that some are frustrated with this option, as we truly set it up to be a helpful mechanism for those who wanted it, and to calm concerns about not getting in before we were able to share our minimum hour mechanism. This was also intended for those who knew they couldn’t be available later in the month regardless of a cap or no cap. That all said, If anyone feels slighted by the unfolding of events and would like to withdraw their ETH from bitcoin suisse, we have decided to cover the fee penalties ourselves.
5. Re Protocol in this group, we welcome all opinions. However, we insist on healthy and respectful dialogue, and will not tolerate unproductive behavior. Bancor is clearly not a scam. We can agree to disagree on points, and we can be convinced of points we’ve overlooked, but we’d like to keep the discussion here constructive and not further feed the frenzy engine that has plagued so many projects before us, and prevents both us and you from getting value from this forum. We will be banning users who do not adhere to this protocol, and again we welcome respectful dialogue on all points."
Now, let's analyse their bullshit.
1. EVERYONE is able to participate and has been able to participate for over a week via bitcoinsuisee.ch/bancor where people can pay in CFH, GBP, EUR, USD, DKK, SDG, Ether or Bitcoins, meaning the 1 hour un-limited cap is COMPLETE BS!
2. So this isn't a fund raiser the INVESTORS, the people who believe in you and want to help you secure funds so that you can get it off the ground and turn it into a viable project. The truth is this is purely for the greedy bancor team to get rich.
3. They believe that it is in the investors interest to have an UNCAPPED ICO, or as they put it with a "hidden cap" (LOLOLOLOLOLLOL), so that they don't make a ROI or maybe even their money back.
4. Here they are making out that investors are angry that we have bitsuisse as an option, this is BS, nobody said that. We are also told that the funds raised via bitsuisse, " has no material impact on the fundraiser nor it’s cap" - WTF? So regardless of how much is raised, it doesn't affect the cap? Off course it doesn't - because you don't have a cap, you will see how it goes and when the investments start slowing down you will say that you've reached 80% of your imaginary cap. IN A REGULATED MARKED THIS WOULD BE ILLEGAL.
5. If you question them or state that you are not happy with this shambles of an ICO scam they will eject you, what can I say.. disagree and you're out.. very classy.
Instead of using the ICO to raise funds to support the project, they are using it to get rich quick.
If bancor is reading this: Just make it no cap for 15 minutes. Otherwise many will pull out.
Even Aragon decided to work with Bancor's main competitor (0x) instead of Bancor.
https://blog.aragon.one/aragon-partners-with-0x-3c8d0c9dcd84
Devs, change the ICO terms. It seems that only partnerships Bancor will be having is with those that were given free Bancor tokens.
https://blog.aragon.one/aragon-partners-with-0x-3c8d0c9dcd84
Devs, change the ICO terms. It seems that only partnerships Bancor will be having is with those that were given free Bancor tokens.
Regarding ICO terms
What? Is this a joke?
Basically, we are getting an ICO that is not capped (technically during the first hour people can send 200 million or 300 million or 500 million USD which they will probably do, and the ICO will continue regardless). Aragon ICO collected 25 million in one minute, BAT even more, so Bancor can collect 900 million without a problem, good for developers and bounty hunters, not so good for investors.
Also initial CRR only 10%? With that amount collected (or any amount collected) you could definitely pick better CRR. Unless you are afraid that people will start dumping immediately. (Remember, that you can give your Bancor token back but for lower price if everyone starts selling and exchage is not required for that).
Also, why are you collecting only ETH? You should collect other ERC20 tokens too. What about collecting Wings tokens, you have partnership with them? And what about Aragon, which is one of the biggest crypto projects? Or any other ERC20 tokens? You are aiming to have token changers without those tokens?
Seriously, this is greed at it's finest. I really liked the project and now I am not cool with those terms. Change your mind and alter those terms:
- create hard cap at 100 million or lower
- accept other tokens (perhaps 10 million USD in various tokens that will sum up to 100 million)
- change the CRR
I think that most of us were expecting capping it high, at 100 million or even higher, but time capping the ICO is same as not capping it at all.
What? Is this a joke?
Basically, we are getting an ICO that is not capped (technically during the first hour people can send 200 million or 300 million or 500 million USD which they will probably do, and the ICO will continue regardless). Aragon ICO collected 25 million in one minute, BAT even more, so Bancor can collect 900 million without a problem, good for developers and bounty hunters, not so good for investors.
Also initial CRR only 10%? With that amount collected (or any amount collected) you could definitely pick better CRR. Unless you are afraid that people will start dumping immediately. (Remember, that you can give your Bancor token back but for lower price if everyone starts selling and exchage is not required for that).
Also, why are you collecting only ETH? You should collect other ERC20 tokens too. What about collecting Wings tokens, you have partnership with them? And what about Aragon, which is one of the biggest crypto projects? Or any other ERC20 tokens? You are aiming to have token changers without those tokens?
Seriously, this is greed at it's finest. I really liked the project and now I am not cool with those terms. Change your mind and alter those terms:
- create hard cap at 100 million or lower
- accept other tokens (perhaps 10 million USD in various tokens that will sum up to 100 million)
- change the CRR
I think that most of us were expecting capping it high, at 100 million or even higher, but time capping the ICO is same as not capping it at all.
I have to agree. It's like accepting all the ETH that is sent your way. It is cool to get in but if everyone is getting in and there is no limit, the coin will not give investors profits.
When this secret will be revealed about that unspecific hard cap what is limit there if all coins sold out during 1st hours than we will able to know about that how many tokens will be created during sale round?
It is irrelevant beacuse everyone will send their money during the first hour and all that money will be accepted. This is why this ICO is badly constructed. It's like having uncapped ICO. They should add hard cap limit of 100 million or lower. Otherwise the contract can accept 100 million, 200 million, 300 million or any amount sent. This way one whale can buy huge percentage of coins, which is exactly opposite that we would like. The coin will be dominated by huge players.
Not a fan of this uncapped ICO either...
...then again, maybe many people will stay passive and not send their ETH until just before the 1 hour limit to see if/when the cap gets revealed?
I am definitely mad that I paid the Bitcoin Suisse Fees for nothing
...then again, maybe many people will stay passive and not send their ETH until just before the 1 hour limit to see if/when the cap gets revealed?
I am definitely mad that I paid the Bitcoin Suisse Fees for nothing
guys.. uncapped ICO?
come on..
not gonna send my ETH For that... but gonna get my bounties tho~
come on..
not gonna send my ETH For that... but gonna get my bounties tho~
I emailed Bitcoin Suisse to refund me all my ETH. I'm sure bancor can foot the bill for this.
No Cap or 'Secret Cap', I laughed a lot.
This is going to be over sold and a long term investment in my opinion and could dump when listed on the exchange because the price seems to be quite high around $2 per tokens.
I don't think Bancor is a good deal - 2.6$ per coin for ICO only with white paper? what if they screw up or delay project? DUMP, same happened to lisk and waves
both ended up under ICO price.
Tonnes of n00bs here, read weak hands - plenty of them will exit under solid pressure when shit hit the fan:)
I will wait... exactly the same happened to golem and I got them for 30% below ICO
Secondly ETH is in parabolic mode, so most likely you will loose money from day 1 anyway and no cap mean lots of whales ready to dump on you
when they realize they don't hold majority of coins and are not able to control the market - they will be force to short.
What you think?
both ended up under ICO price.
Tonnes of n00bs here, read weak hands - plenty of them will exit under solid pressure when shit hit the fan:)
I will wait... exactly the same happened to golem and I got them for 30% below ICO
Secondly ETH is in parabolic mode, so most likely you will loose money from day 1 anyway and no cap mean lots of whales ready to dump on you
when they realize they don't hold majority of coins and are not able to control the market - they will be force to short.
What you think?
I was waiting for this ICO with excitement, but know have mixed feelings. 2.5$ for a token is pretty high and in 1 hour millions ETH could be transferred.
I have to rethink if I should participate in ICO.
I have to rethink if I should participate in ICO.
Looking forward to the ICO very much. That minimum 1 hour time period is really tricky..
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
Interesting so it basically makes this a virtually risk free ICO. Thats bound to create a lot of pumping once the ICO is over. I wonder if they could also be the first ICO to generate over a hundred million dollars.
It would still be possible for the price to drop below 0.01 ETH.
For example, let's say the hidden cap is 250k ETH, and it raises 300k ETH in the first hour.
That's +50k ETH above the hidden cap. (50k ETH)*0.80 = 40k ETH would go into a buyback pool.
The buyback pool would be big enough to absorb 400k BNT. After that, the pool would be empty and price could drop below 0.01 ETH
June 08, 2017, 09:55:29 PM
The surprised maximum hidden cap is what making more and more people curios about the possible maximum supply and target of raising money. If I am right this is first experience of this kind where investors will put money totally blindly based on guesses. Let's see what will be revealed when 80% of the cap will be reached.
is there any prediction on how much hidden cap could be? median prediction on Wings is around 200k ETH
this average value says nothing.already 2 weeks more than 200 applications now come in a day the amount on Deposit. deposito can gather this amount, we are starting from no scratch there is already a collection and they will all be mastered in 1 hour....
June 08, 2017, 09:27:00 PM
Sure its not impossible but its unlikely for it to drop below ICO with a big buywall unless it turned out to be a scam or something.
Most people are also under the impression they will raise far more than just a little over the hidden cap as your example suggests, which means there could be a huge supportive buy wall.
"We have decided to allocate any proceeds collected in the minimum hour which exceed the hidden cap as follows"
What is the fucking hidden cap? It could be a ridiculous amount and just a little could go over the hidden cap. This is straight shill by Bancor, I always hated them hiding under the non-profit tag as well trying to act like they aren't profiting.
June 08, 2017, 09:04:08 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
Interesting so it basically makes this a virtually risk free ICO. Thats bound to create a lot of pumping once the ICO is over. I wonder if they could also be the first ICO to generate over a hundred million dollars.
This does not mean it is impossible for it to drop below 0.01 ETH. Have to read it a couple times.
For example, let's say the hidden cap is 300k ETH, and it raises 350k ETH in the first hour.
That's +50k ETH above the hidden cap. (50k ETH)*0.80 = 40k ETH would go into a buyback pool.
The buyback pool would be big enough to absorb 400k BNT. After that, the pool would be empty and price could drop below 0.01 ETH
Sure its not impossible but its unlikely for it to drop below ICO with a big buywall unless it turned out to be a scam or something.
Most people are also under the impression they will raise far more than just a little over the hidden cap as your example suggests, which means there could be a huge supportive buy wall.
June 08, 2017, 08:56:39 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
Interesting so it basically makes this a virtually risk free ICO. Thats bound to create a lot of pumping once the ICO is over. I wonder if they could also be the first ICO to generate over a hundred million dollars.
This is a good project. I have hoarded ETH since last month after reading the whitepaper
June 08, 2017, 08:53:49 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
Interesting so it basically makes this a virtually risk free ICO. Thats bound to create a lot of pumping once the ICO is over. I wonder if they could also be the first ICO to generate over a hundred million dollars.
It would still be possible for the price to drop below 0.01 ETH.
For example, let's say the hidden cap is 250k ETH, and it raises 300k ETH in the first hour.
That's +50k ETH above the hidden cap. (50k ETH)*0.80 = 40k ETH would go into a buyback pool.
The buyback pool would be big enough to absorb 400k BNT. After that, the pool would be empty and price could drop below 0.01 ETH
June 08, 2017, 08:52:37 PM
how much do you think they will raise in 1hr? I'm guessing 600m now thanks to the moral hazard created by essentially guaranteeing a floor price.
Where do you see the price in 6months, 1 year?
Where do you see the price in 6months, 1 year?
June 08, 2017, 08:47:43 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
Interesting so it basically makes this a virtually risk free ICO. Thats bound to create a lot of pumping once the ICO is over. I wonder if they could also be the first ICO to generate over a hundred million dollars.
June 08, 2017, 08:44:49 PM
After reading some minutes on whitepaper I might say It will be a good project, waiting for ICO might invest some eth..
June 08, 2017, 08:19:42 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
i think this will be a masiive because some one already buy coin on bitcoin suisse i think they saying and i see there almost 80% are filled already around 20% left for ico participants plus theres more whales will invest here
June 08, 2017, 07:17:48 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
It seems there will be no way the price will drop below ICO price.
That way it is more likely the ICO will be finished in an hour.
June 08, 2017, 06:30:34 PM
I am liking everything this team has been saying.
I am investing for sure.
I am investing for sure.
June 08, 2017, 06:13:46 PM
Some news from there official blog. You should check this out!
https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
That is definitely interesting, and should ease some of the concerns around a mad rush for the ICO. https://blog.bancor.network/the-community-of-the-currency-9770087fde17
"We’ve heard many concerns that having no cap in the first hour (other than the 1M Ether security cap) may result in BNT dropping below its initial price after the token allocation event. Even though we’d like to think that our hodlers will not be quick to liquidate BNT they’ve purchased at its initial price, 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."
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