BNT's price floor in ETH just dropped by 50,000 ETH.

>>2783478
The market is so stupid that enough people are actually selling in the smart contract which returns less than 0.01 ETH that other people are able to arbitrage between the two smart contracts, and in doing so eat the price floor for ETH.


What the fuck happens when this price floor disappears because the market was literally too stupid to sell into the right smart contract?

hello?

fucking jews of /biz/ get in here.

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>>2783478

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I don't understand any of this

What is the price floor? How will this effect the actual price of BNT and ETH?

it dropped 10k
>>2783625
they buy back at ico price via smart contract

>>2783625
Why the fuck do normies have so much trouble understanding this when it's so simple?

There is a smart contract which allows you to sell BNT for 0.01 ETH. Always. Until that price floor of 96k ETH is eaten away by this. Then it can't ever come back.

The fact that the price of Bancor is below this floor means people are literally selling under the market price because they don't know any better.

>>2783478
that's merely an indication how literally unstappable this shitcoin is

>>2783478
It is the buy now signal

>>2783639
Bittrex is below .01. I'm obviously not understanding what's happening here because people are being fucking stupid.

>>2783622
I fucking hate this lazy oc so much. Stop fucking making it.

>>2783673
Disregard this I didn't know BNT was this shit

>>2783673
The longer it is below that, though, the more arbitrageurs will buy on Bittrex and sell into the price floor, destroying the price floor.

The fucking price floor dropped from 156k to 96k in 1 day. That's not good.

And whales exploiting this are killing the coin by doing it.

>>2783639
So can you buy from them below 0.01 and then sell for 0.01? Is it free money?

>>2783698
The problem is that once the price floor is gone, confidence will plummet and EVERYBODY will sell.

This is probably what the whales want. In fact, a smart whale might even be willing to sell under market price into this price floor, just to kill the price floor.

>>2783701
Yes. Until the price floor disappears.

>>2783701
IT'S OVER BNT IS DEAD

>>2783698
How does this destroy the price floor? Isn't it just arbitrage?

>>2783721
it depends whether they sell to the price floor or the bnt coin contract.

>>2783701
god help you if you get caught holding BNT when you planned to arbitrage but the price floor disappears.


What happens to BNT that gets sold into the price floor contract?

Also Bancor has planned to remove the price floor and take all remaining ETH from it for themselves after 2 years.

So it's in their best interest to prevent people from using, by keeping the price of Bancor high.

so glad i dumped this piece of trash at .012 after buying in the ICO. knew this shit wasn't going anywhere after the initial pump

>>2783768
So sell your ant shares, bnt falls, that's the first ico to get fucked totally
Then eth falls
Then ans falls because it's Chinese ethereum
Maybe buy etc... doesn't have so many crap icos bogging it down.

>>2783701
The difference is only ~1.91 to ~1.96 or about half a percent though, so you'd have to trade a real shitload to make any money

>>2783478
STOP BUYING SHITCOINS THAT OBVIOUSLY HAVE NO FUTURE

ONLY TRADE BITCOIN AND ETH

THE REST ARE GARBAGE

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AND I'M PROUD TO BE A BANC-KEK
WHERE AT LEAST MY BAGS ARE CRAPPY

>>2783794
I don't hold any ANS cause I'm not a retarded fuck

>>2783768
>What happens to BNT that gets sold into the price floor contract?
it goes to bancor

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>>2783801
I'M A BANCIAC, BAAAANCIAC,
NO PRICE FLOOR,
AND I'M HODLING LIKE I'VE NEVER HEDL BEFORE

If every BNT is backed by 0.1 ETH then the amount of ETH in the price floor contract is 1/10 the BNT in circulation and there's not going to be a problem. Right? Or are there Jewish tricks?

>>2783811
>doesn't realize his precious bancor has partnered with ANS

>>2783814
Yeah but do they sell it then on fucking Bittrex? What do they do with it?

If that's the case, then by lowering the cost of BNT below 0.01 ETH, they would make money.....but then by having it rise above it they would make money too....and then in 2 years when they take the ETH wall for themselves, they still...make..money.

Wow.....

So this is the power of jews..

>>2783835
>precious bancor
I was just using bancor as a placeholder for my ETH.

I don't give a fuck about BNT specifically, just ETH and the price wall of 0.01 ETH.

That's why this fucking concerns me though. Because if the price wall disappears then I get fucked.

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>>2783821

FUCK BANCOR

FUCK ETHEREUM and MIST

>>2783822
If they are selling the BNT they get via the price wall back into the exchanges for fiat, then we have a serious fucking problem.

>>2783683
>he actually bought the jews' bags

>>2783822
seperate contracts.

there is the bnt smart token, that lets you exchange eth to bnt and bnt to eth, which can below 0.01.

there is also the price floor contract where they are buying back bnt for 0.01 using the eth collected above the hard cap. this runs for 2 years or until the eth is gone. currently the floor is at 96k eth. when the floor was created, it was 117k eth.

https://blog.bancor.network/price-floor-in-action-and-as-a-solution-ffa717ca906e

>>2783837
>What do they do with it?
maybe sell some or invest in other projects. they invested in dcorp.

>>2783851
i cba to research this. its all on etherscan so instead of guessing, go find out what they are doing with it.

>>2783873
source?

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>>2783849
U mad?

>>2783873
Again, they are Bancor, so they can't "sell or invest it" without selling it to somebody else, which will bring the price down.

>>2783913
source is dcorp dev on plebbit and slack. the dcorp newsletter today said they will be holding 3.5% of their reserves in BTC and BNT.

>>2783947
the bamcor foundation has their own bancor tokens. They can use for anything.

>>2783964
Wtf does that even mean "they can use for anything"? It has no value except on paper as an asset for the company unless they sell them. On an exchange.

>>2783977
They can use to invest in other projects. Like dcorp.

>>2783995
How the fuck do you invest in something via BNT without first selling it?

And ok fine maybe dcorp accepts BNT. Then THEY will sell it on the exchanges.

Basically what I'm saying is that unless the BNT sent into the price floor is either burned completely or provably tied up untouched for several years, we're fucked!

>>2784011
Mate they just send bnt to invest like any coin, how it hard to understand? Read my other post. Dcorp are holding bnt in their reserves and not selling.

I'm not finding bnt for cheaper than .01 eth

>>2784079
Well yeah, it's back up again.

But the price wall is now almost 1k lower.

When that price wall breaks 0 (it's down from 156k to 96k in 1 day now), all hell will break loose in this coin.

If there are any whales that own a lot of this coin....it would be in their best interest to get rid of this price wall...

>>2783497
>What the fuck happens when this price floor disappears because the market was literally too stupid to sell into the right smart contract?
Bancor goes Banc-Rupt.

>>2784140
Down another 1% since making this thread.

that's 1% that can never ever come back either. There's no way to replenish the fucking price floor.

>>2783478
Hmm... I just noticed that my bot bought a ton of Bancor for 0.00083988 and sold it for 0.00085286, which is below the floor price. Interesting.

Should I stop my bot or should I let it run until it eats Bancor's price floor reserves away?

>>2784096
>down from 156k to 96k in 1 day now
It was never above 117k. Read https://blog.bancor.network/price-floor-in-action-and-as-a-solution-ffa717ca906e

"As total TGE proceeds were 396, 720 ETH, 80% of the extra 146,720 ETH above the cap, 117,376 ETH, were allocated to a price floor smart contract which is locked until June 12, 2019."

>>2784177
Never mind what I said, I was looking at the BTC prices, not ETH.

>>2784177
just let it rip. whoever designed this retarded coin isn't going to suffer.

>>2784177
The price floor isn't active on exchanges retard, it's active via the smart contract/bancor website

>>2784246
I know. But if my bot is buying and selling below the floor price, it will allow people to accumulate BNT below 0.01 ETH and later bulk sell it to the Bancor website.

How can I sell into the smart contract?
t. never used Ethereum

>>2783698
Holy shit Bancor Reddit niggers are so fucking dumb, they arent abusing shit. They are just using the smart contract

is there any exchange with MARGIN TRADING ENABLED that trades Bancor?
also anyone knows how to see the actual remaining ETH in their wall?

https://www.reddit.com/r/Bancor/comments/6jlw5b/monitor_the_bancor_buy_wall/

this page lists 2 addresses, but they seem to only have around 10K ETH

it begins:
https://www.reddit.com/r/Bancor/comments/6nbvc3/new_bancor_protocol_tokenstox/

>>2784270
update: I figured it out.
If you want to sell into the contract, follow this guide
https://blog.bancor.network/price-floor-smart-contract-deployed-621871bd09ca

>>2784760
oy vey. the first of many.

All signs point to BNT being worth more than ETH. BNT idea is one of a kind. Many signs point to this. Who isint buying BNT at these prices?

The price floor is down to 93k ETH; I just sold mine there. Once the floor is gone, I wouldn't be surprised to see .005 or less.

>>2783728
This. If I sold ALL of my BNT thru the smart contract and used it to buy thru bittrex again I'd only make $4, and thats too much hassle

>>2783721
>>2785408
Meant for this post

>>2783478

Bahahahahahahahahaha

Oh man this is about to collapse

>>2783478
Sorry Banc bagholders,but we warned you abput this even before the ICO got released.We warned you all ever since,but you just call us FUD and trusted the jews.

>>2784985
Even if it is worth more than ETH,it's the first coin to drop below the ICO.Nobody wants a coin with low market value that is still falling

>>2783928
Price 3.35

Show us the updated losses anon.

>>2783797
And LTC

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This is fuckin great! loving seeing this shit crash and burn.

>>2783554
they are too busy fucking over all the assholes that bought bancor.
Wait til the dump ends.

>>2785214
Hahah, okay buddy.

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>>2783497

Shabbos goys like you go bancrupt and exactly what you deserve

/pol/ is always right

>>2785408
>>2785416

But more importantly you'd wear down the bancor price floor

>>2787157
I don't understand the FUD that bancor is fucking over investors when it's offering them their money back? 0% return is probably better than what half this board got with their investments

Anyone excited for the first BNT ico? Finally regulated ICOs for working products

>>2787838
Stox will be the first