Topic: [ANN] Bancor | Protocol for Smart-tokens, solving the liquidity problem - page 431. (Read 375671 times)

Of slack: What are the transaction fees of creation smart tokens, liquidating them, interchanging tokens, etc?
- we will cover the initial smart token creation transaction fee as it is all quite experimental at this point. I don’t have the exact gas cost for each type right now, but i’ll look into that and get back to you.

i do not see any official post for this

Yup there is ongoing PRE_ICO round so you take part into campaign without any confusion. Bitcoin Suisse is legit site there you have variety of choice to invest into this ICO.

Ah ok ok i understand now thanks for response.
I can reserved my tokens.

As I understand it, the escrow agent offers to reserve a part of the tokens. I found there some more impending ICO.

Don't response for my question ?

Here is where I read it:

1. https://tokenmarket.net/blockchain/ethereum/assets/bancor-network/
2. https://www.coinschedule.com/

Not official yet, but could be true considering they officially stated that ICO will happen in mid June.

Where is source of news ? Do you have a link ? The new story I've been waiting for a long time .

Bancor ICO is starting on 15th June!

Two things

One, keep in mind that the BNT token itself will not hold a 1% reserve. Ours will be much higher. Also, a 1% reserve is equivalent to a 1% market depth in an exchange (the use case is very similar), and with 1% market depth is a big exchange. Its not fractional reserve because the value of a smart token is not based on the value of its reserve tokens. They're just there so the smart token's contract can trade autonomously and therefore keep its token fully liquid.

Two, the reason that BNT will be the preferred reserve currency is network effects: The more smart tokens that use BNT tokens in reserve (which will be the default setting for smart token creation in any Bancor developed or financed software service), the more valuable and more in-demand the BNT token becomes. As the value of BANCOR rises, so too does the value of every smart token holding BNT in reserve. And, because we’re both the most knowledgeable about the technology behind the Bancor protocol and have first mover advantage in building on it (including over a year working with a large developer team on building the first Bancor software service UX, seeding token changers, high-potential community currencies, and popular token baskets with BNT tokens), anyone forking would need the economic incentive and the ability to surpass what we’ve built, or else will have created an inferior network with little incentive for others to use it.  (This can be compared to Ethereum, where the success of any solution that uses ETH appreciates Ether value, benefiting the entire Ethereum network).

Communication in the slack seemed to me very productive. It is necessary to continue the practice of communication in it at least once a week. Operational issues for mature issues for the week.

You have a pre ico ? https://www.bitcoinsuisse.ch/bancor/

OK, so I have read the whitepaper but still not sure of one thing. Bancor team is saying that they are getting rid of liquidity problem. But isn't any coin liquid at some point? If I have some not so popular asset, I could simply dump it on the market. Doesn't Bancor algoritm simply do something similar? Yes, every asset will be liquid now but probably not at the price that user would like it to be. So technically all the claims are correct, but the price would be very low if you try to sell illiquid asset in great amounts (or very high if you want to buy liqid asset in high amount).

Reserve goes to zero exponentially with each next token in fractional reserve chain. There is no point to use tokens A, B, C etc as reserve instead of using ETH in your case.

I see the rule should follow  this, but in which place? btt or https://app.bancor.network/communities/59072a4f98c9cb000161fee9/posts ?
Third, POST an entry on the discussion board and fill out the requested information.

This!
The project looks really good though I will wait a little bit till I receive more information on it before proceeding any further with Bancor. I think the outlook is good so far, plus having a team that actually gets involved with the people interested in investing is really something else.

I think that it is enough if you post here: https://app.bancor.network/

WHEN IS THAT FUCKING ICO STARTING?

Could someone tell me  should I post here after I join Bitcointalk Bounties signature and avatar?

You are free to continue to the chain of CRR: Token A backed by ETH, Token B backed by Token A, Token C backed by Token B and so on. There's nothing stopping you from doing that. However, the real value of a token comes from its utility, not from the reserve alone. If people don't think your coin has any utility, you can keep issuing them but no one other than you will buy into it. However, if you're able to create a long-chain economy of tokens, then there's nothing stopping them from going on a long-chain reserve as well.