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It's a jewish trap set to control the price movements of all crypto.
Why?:
Network Effects: The more smart tokens that use BANCOR 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 BANCOR token becomes. As the value of BANCOR rises, so too does the value of every smart token holding BANCOR in reserve.
The inverse is also true. It seems helpful for token networks to connect themselves via Bancor and use "smart tokens" backed by BNT, but if BNT is subject to a successful speculative attack and devalued then consequently a huge amount of value held by those smart token holders could instantly vanish. So as a token issuer, either you can play economist and central banker and calculate needed reserves to fend off speculative attacks, or you connect to the Bancor protocol and let them manage it for you.
The more token networks that join, the greater the demand and price for BNT so the harder the BNT token will be to attack, but then again the more damage caused if an attack is successful.
I understand why Bancor is trying to raise as much ETH as possible now. They have to be ready to use the remaining 80% that isn't a direct reserve to buy back BNT if coordinated whales try to dump or short. This is especially true right now because the most valuable token on Ethereum is ETH. In the future, if we have USD tokens available on ETH I could see Bancor moving to hold reserves in USD and other fiat currencies as well to protect against attacks in that direction.
Also if you're Bancor and your incentive is to grow your network, it seems to me that the best way to do so would be use the full might of your network to launch speculative attacks against token networks that haven't joined you to coerce them into doing so.
this seems like the genesis of the blockchain banking mafia.
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>>2406306
But will it be profitable? The jews are coming one way or the other because they smell the money. I just want to get enough to get out and stop the wagecucking.
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>>2406471
This. I don't care about "muh ebil joos", I want money, and where there's Jews, there's money
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>>2406511
>where there's Jews, there's money
This is like saying
>where there's cancer, there's growth
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is it true they wont accept eth from american ips?
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>>2406533
Yep but just use a vpn
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>>2406306
I don't give a fuck about jews. I will not put my eths in bancor simply because holding them seems the best possible return now.
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>>2406524
>where there's cancer, there's growth
kek of the week
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>>2406511
> Giving people with a history of charlatanry your ethereum in exchange for a dogshit token ""backed"" by some kiddie code on github
> Not only doing this, but participating in a sale that will create an unknown number of said tokens that will only increase the near-certain plummet in price that will celebrate as flippers realise that no one wants to buy the tokens at anything near the 0.001 ETH ICO asking price
I actually cannot wait to see the butthurt that results from this and from the ""delays"" on the product due to the devs taking Caribbean holidays with the ETH given to them by get-quick-rich retards gambling on the next Status
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>jewish blockchain banking mafia
fuck man sign me up asap
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>>2406306
You guys are really putting me into split paths. This is either a kike master plan to to have major control over crypto that will make us all rich if they have their way or we are sending a major share of the eth network to Israel.
As much as I would love to see the whole point of crypto (decentralization) to become the winner im not too certain major players in the world would allow this.
If this does take off anyone who invests could be multi millionaires but potentially sell out a great piece of technology.
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Bancor charges you a monthly tax.
>"Anyone creating [a basket token] on the Bancor.Network will be charged a monthly fee, paid in BNT"
>https://www.reddit.com/r/Bancor/comments/6ggin5/anyone_creating_a_basket_token_on_the/
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>>2406632
>monthly charge
just give us protection money and we won't crash your coin goy.
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>>2406524
underrated post
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I would like to see no one investing in this jewish shit and them not reaching their 250million (hidden cap).
Unfortunately I dont see that happening.
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>>2406511
This is why we can't have nice things.
People only care about themselves and short term gains.
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>>2406524
but thats true
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>>2406813
i'm sorry not everyone is a national socialist larp teen
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>>2406306
I'm investing 10 ETH into it Goyim.
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>>2406805
people sell out their principles as soon as they think they can make a buck
This is why the goyim are ultimately doomed
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>>2406632
At least post bancors response
No fee is planned for those using BNT as a reserve token. And of course, there is no fee for anyone taking the open source contract code to create a smart token (which could be a basket) on its own. The fee is for using Bancor.Network service for non BNT smart tokens. It does not, and cannot apply for simply using the Bancor protocol in smart contract based tokens.
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>>2406524
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My boys at Goldstein, Shultz & Sheklberg havent let me down since 08.
No way this is a scam.
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>>2406942
Sorry Galia
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>>2406524
toppest kek
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>>2406524
toppest kek o the day
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>>2406632
This will increase demand for BNT, which means my BNT will be worth more.
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>>2406981
that's ok :)
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>>2406997
Read even further down where the current plan is to burn the fees
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i want /pol/ to leave
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what does bancor offer exactly?
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>>2407104
Read the whitepaper?
TLDR, it provides liquidity for otherwise illiquid tokens.
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>>2407104
It acts as a reserve currency, offering continous liquidity for tokens.
it also acts as a market maker, allowing anyone to buy or sell without exchanges.
The idea is originally from keynes after ww2 and great, however their implementation will centralize crypto around their corp.
They will basically be the World bank of crypto if they succeed.
I hope not because then crypto will just be as shitty as fiat is right now.
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min invest 1 ETH or can peasants get in on the action?
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>>2407190
Can they perfrom "Quantitative Easing" and create new bancor whenver they feel the market needs "more liquidity"?
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>>2407190
>it acts as a reserve currency
Isn't that BTC?
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>>2407256
Once they control the market they can change the rules just like they did with the ICO
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ONE HOUR
ONE HOUR
ONE HOUR
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>>2407261
This allows you to swap any tokens.
With the current set up, say you want to sell some alt coins, someone else needs to sell BTC for those altcoins.
With this there is no need for there to be someone else at the other end of the transaction and the price adjusts automatically.
This means you can do swap alt to alt rather than BTC / ALT
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>>2407291
I thought the smart token creator is able to set their own reserve ratio?
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>>2407256
Yes, this is inherent and automated in every smart token bancor proposes and is controlled by the coins constant reserve ratio(crr). Bancor is just the first smart token.
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>>2407336
Yes they can even have multiple ones, however they have to pay fees if they use something else than bancor
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>>2407048
I want the bancor jews to be gassed.
Thread posts: 45
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Thread images: 8