Topic: [ANN] Bantam [BNT] The world's first Crypto Collateral System | BTC Loans - page 7. (Read 32845 times)
January 06, 2016, 06:55:42 AM
fork in blake256 algo ... But 8 or 14 round?
January 06, 2016, 06:54:43 AM
BNT POSSIBLY MERGED WHIT DECRED.... DEV YOU CAN OFFICIALLY ASK DECRED TEAM.?
January 05, 2016, 10:41:46 AM
yes,... All dev definitely say long-term project but in fact he would break a promise
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..
Thats where you're wrong, the dev is accepting 1000 bnt in return for a 0.2 btc loan so bnt has value outside of the exchange which is something no other coin has
if bantams price is 100 sat, and you can use 1000 bnt to get a 0.2 btc loan, then you use that 0.2 btc to buy 200,000 bnt. Then when bnt goes back up to 1000 sats, you sell and make 2 BTC, a 1,000% profit. You pay back the 0.2 btc with interest to the dev, meaning you have made 1.8 BTC
nifty little idea here
Ok I 'll try , .. Hopefully dev does not break a promise , ..
January 05, 2016, 10:36:42 AM
yes,... All dev definitely say long-term project but in fact he would break a promise
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..
Thats where you're wrong, the dev is accepting 1000 bnt in return for a 0.2 btc loan so bnt has value outside of the exchange which is something no other coin has
if bantams price is 100 sat, and you can use 1000 bnt to get a 0.2 btc loan, then you use that 0.2 btc to buy 200,000 bnt. Then when bnt goes back up to 1000 sats, you sell and make 2 BTC, a 1,000% profit. You pay back the 0.2 btc with interest to the dev, meaning you have made 1.8 BTC
nifty little idea here
That's where you're being incredibly naïve. All that is not an outside value, it's totally dependant upon the fact that the dev accepts to give the loan. And if he doesn't?
Well the moment dev stops giving loan, the coin is worth shit. Literally.
I can't really call that nifty... Maybe stupidly complicated but not much more...
January 05, 2016, 04:31:19 AM
The math that is supposed to be supporting this coin is complete shit. Please explain your thoughts on the following.
a.) If 50 btc worth of loans are given out... that's 50,000 BNT as collateral or only 0.06% of supply. If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange. The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.
b.) There are 40 BNT mined per block, so miners can continue dumping for a long time. Selling pressure will remain high if whales do not come in and pump-N-dump it.
c.) Five percent interest is not a lot of revenue. If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
-- You loan 50 BTC out at 0.2 BTC per person. 250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit. For this system to work, you would need more than 95% of loans to repay in full, plus interest. If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for. The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.
If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted. On a long term, either something is missing in this equation or the coin is doomed to fail. Please enlighten us devs?
a.) If 50 btc worth of loans are given out... that's 50,000 BNT as collateral or only 0.06% of supply. If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange. The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.
b.) There are 40 BNT mined per block, so miners can continue dumping for a long time. Selling pressure will remain high if whales do not come in and pump-N-dump it.
c.) Five percent interest is not a lot of revenue. If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
-- You loan 50 BTC out at 0.2 BTC per person. 250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit. For this system to work, you would need more than 95% of loans to repay in full, plus interest. If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for. The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.
If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted. On a long term, either something is missing in this equation or the coin is doomed to fail. Please enlighten us devs?
Nothing to add here. This coin is nothing but a complicated ponzi with a polite dev. Don't fall for that.
January 05, 2016, 10:28:36 AM
yes,... All dev definitely say long-term project but in fact he would break a promise
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..
Prices will continue to fall to 100 sat ... and this coin will not be valuable for investors, ..
Thats where you're wrong, the dev is accepting 1000 bnt in return for a 0.2 btc loan so bnt has value outside of the exchange which is something no other coin has
if bantams price is 100 sat, and you can use 1000 bnt to get a 0.2 btc loan, then you use that 0.2 btc to buy 200,000 bnt. Then when bnt goes back up to 1000 sats, you sell and make 2 BTC, a 1,000% profit. You pay back the 0.2 btc with interest to the dev, meaning you have made 1.8 BTC
nifty little idea here
If the price does not go back to 1000 sat
how
January 04, 2016, 09:22:57 PM
Happy new year peoples. All this accumulation i see, i think there is going to be a big bnt pump before jan 16
Really? hope that could be happen 
January 04, 2016, 07:17:21 PM
The math that is supposed to be supporting this coin is complete shit. Please explain your thoughts on the following.
a.) If 50 btc worth of loans are given out... that's 50,000 BNT as collateral or only 0.06% of supply. If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange. The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.
b.) There are 40 BNT mined per block, so miners can continue dumping for a long time. Selling pressure will remain high if whales do not come in and pump-N-dump it.
c.) Five percent interest is not a lot of revenue. If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
-- You loan 50 BTC out at 0.2 BTC per person. 250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit. For this system to work, you would need more than 95% of loans to repay in full, plus interest. If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for. The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.
If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted. On a long term, either something is missing in this equation or the coin is doomed to fail. Please enlighten us devs?
@BantamSystems correct me if i am wrong but i will try to answer some of this question from what i saw:a.) If 50 btc worth of loans are given out... that's 50,000 BNT as collateral or only 0.06% of supply. If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange. The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.
b.) There are 40 BNT mined per block, so miners can continue dumping for a long time. Selling pressure will remain high if whales do not come in and pump-N-dump it.
c.) Five percent interest is not a lot of revenue. If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
-- You loan 50 BTC out at 0.2 BTC per person. 250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit. For this system to work, you would need more than 95% of loans to repay in full, plus interest. If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for. The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.
If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted. On a long term, either something is missing in this equation or the coin is doomed to fail. Please enlighten us devs?
a.) your math is wrong, here's why: in first round i did put 2000BNT collateral and need to keep min 1000BNT locked in wallet for 0.2BTC loan. let say you get for 10000BNT (probably 20000BNT+) and need to keep 1000BNT locked for 1BTC that makes 50BTC loan worth 550000BNT / 500000 collateral and 50000 locked / that's 70-80% of currently available supply if you don't count Bantam reserve..
b.) also wrong: there are atm 24033 mined POW/POS Blocks * 45BNT/block makes total 1081485BNTposible but because of the POS eating POW blocks there are -30%+ less Coins mined.. currently at 726106BNT total meaning 355000BNT less than possible. as POS continues there will be even less coins mined. again if you don't count Bantam reserve.
c.) all depends how valuable BNT will become, it could be a good business for BantamSystem
-t
January 04, 2016, 05:35:39 PM
The math that is supposed to be supporting this coin is complete shit. Please explain your thoughts on the following.
a.) If 50 btc worth of loans are given out... that's 50,000 BNT as collateral or only 0.06% of supply. If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange. The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.
b.) There are 40 BNT mined per block, so miners can continue dumping for a long time. Selling pressure will remain high if whales do not come in and pump-N-dump it.
c.) Five percent interest is not a lot of revenue. If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
-- You loan 50 BTC out at 0.2 BTC per person. 250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit. For this system to work, you would need more than 95% of loans to repay in full, plus interest. If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for. The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.
If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted. On a long term, either something is missing in this equation or the coin is doomed to fail. Please enlighten us devs?
a.) If 50 btc worth of loans are given out... that's 50,000 BNT as collateral or only 0.06% of supply. If we have a thought experiment and say none of these loans are paid back, and ALL of the collateral is burned, it would still leave 99.94% of the coins which can be dumped on Bittrex Exchange. The coin is not backed by the loans at all if the entire loan system can fail and have zero effect on the supply or the BNT/BTC market.
b.) There are 40 BNT mined per block, so miners can continue dumping for a long time. Selling pressure will remain high if whales do not come in and pump-N-dump it.
c.) Five percent interest is not a lot of revenue. If only a very small portion of loans fail to be repaid, it would more than negate all of the revenue from every other loan.
-- You loan 50 BTC out at 0.2 BTC per person. 250 people get a loan, and you hope to gain 5% on that 50 BTC which would be 2.5 BTC profit. For this system to work, you would need more than 95% of loans to repay in full, plus interest. If 96% of people repay their loans, you would only profit 0.5 BTC of the 2.5 BTC you originally were fighting for. The 96% number I also personally find impossible when looking at BTC loan competitor sites like BTCJam.
If less than 95% of people who receive a loan pay it back, you have zero revenue coming in to support the buying price and are also losing some of the 50 BTC originally budgeted. On a long term, either something is missing in this equation or the coin is doomed to fail. Please enlighten us devs?
January 04, 2016, 12:45:12 PM
Or the fact that if nothing get automatized op can simply stop answering while dumping everything 
How could people invest in something with so little value and absolutely 0 guarantee...
How could people invest in something with so little value and absolutely 0 guarantee...
Thank you for providing your perspective on The Bantam Project.
I guess that old saying applies here, Bantam is a coin that you either love or hate - and everyone can't be a supporter. So it's refreshing to read up on the alternate views people have on The Bantam Initiative
Thank you
Looks like it actually rebounded a bit, whats going on dev is this project still going on ?
Hey there
Yes indeed, Bantam (BNT) is a long term project that will be active for at least the next five years, and our overall strategy is to concentrate our activity within 24 month cycles. i.e during the next 24 months, we seek to have furnished over 50 BTC in loans to project participants.
You can think of it like this; at any given time there are more than 1000 people that could benefit from a loan - and that's what we're here to do: to furnish loans to individuals that have a suitable amount of BNT to pledge as collateral. It's that simple.
Our next round of loan dispersal begins on January 16th. So mark your calenders
Also, we will be posting a very detailed map of what we have in store for 2016, so keep checking the thread as announcements will be made shortly.
The Bantam Team
January 04, 2016, 05:23:54 AM
I was taken aback by "Simply post your request in this thread...". I guess that means you simply couldn't implement a request and collateral mechanism inside the client itself instead of hosting it on a potentially moderated centralized thread which really sound silly.
i guess it's all about better exposure and minimizing the risk of misuse of the service by recording requests publicly. i agree, as bantam appreciates in value there should be in wallet mechanism to automate the process. it could work. Or the fact that if nothing get automatized op can simply stop answering while dumping everything
How could people invest in something with so little value and absolutely 0 guarantee...
January 03, 2016, 11:22:19 PM
lol well that didn't take long from this garbage ass coin, dumped already, devs with a clean getaway
Looks like it actually rebounded a bit, whats going on dev is this project still going on ?
January 03, 2016, 10:49:48 PM
Happy new year peoples. All this accumulation i see, i think there is going to be a big bnt pump before jan 16
Great, I'm looking forward to it.
January 03, 2016, 10:38:52 PM
lol well that didn't take long from this garbage ass coin, dumped already, devs with a clean getaway
January 03, 2016, 08:32:49 AM
Can we see the BNT address of the reserved coins? Or was it already dumped?
https://chainz.cryptoid.info/bnt/address.dws?4930.htm
January 03, 2016, 08:29:50 AM
last update 2016-01-01 12:33:10
:-/ January 03, 2016, 08:20:27 AM
Can we see the BNT address of the reserved coins? Or was it already dumped?
January 03, 2016, 08:15:29 AM
January 03, 2016, 07:02:15 AM
I was taken aback by "Simply post your request in this thread...". I guess that means you simply couldn't implement a request and collateral mechanism inside the client itself instead of hosting it on a potentially moderated centralized thread which really sound silly.
i guess it's all about better exposure and minimizing the risk of misuse of the service by recording requests publicly. i agree, as bantam appreciates in value there should be in wallet mechanism to automate the process. it could work. 
January 03, 2016, 06:53:54 AM
I was taken aback by "Simply post your request in this thread...". I guess that means you simply couldn't implement a request and collateral mechanism inside the client itself instead of hosting it on a potentially moderated centralized thread which really sound silly.
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