Bancor is aiming high :- In the "how it works" bit we can see where they are heading :- I need to look deeper into it, but I am a bit conflicted about it at the moment. It could be huge. It could even be "the one" which the establishment bankers go with. It looks to me like it will have the smoke and mirrors functionality and ability to create money from nothing that they'll want. https://www.smithandcrown.com/sale/bancor-protocol/
Wasn't this the ICO that raised over 100M within hours or days? A lot of people must think this could be huge Just checked and the ICO has ended http://www.coindesk.com/150-million-tim-draper-backed-bancor-completes-largest-ever-ico/
Yes. It also draws conceptual comparisons (for me) of the IMFs Special Drawing Rights (SDRs) which are intended to be valued/backed by a "basket" of major fiat currencies. It occurs to me that SDRs could be implemented via blockchain technology with Bancor.
I stayed away from this I think it's the bigges money grab First hour not capped and during the ico the hour was extend to three hours I'm gonna buy bnt when the coins are released I think they're gonna drop Bancor way too greedy
Same here, why the hell they need to collect 150 million. How to trust someone who changed the rule while ico is running. 1hour was announced, more than 2 they were open Isn't code law ? Will not touch it ...
How do you trust ANYONE who is promoting fractional reserve banking? Bancor is too greedy you say? Sounds like bankster modus operandi to me.
I don't understand how people put money in this uncapped ico for one year then eos will be pumping out tokens for one year wth? I think I might go in suncontract bring solar power to the blockchain Don't know if it's achievable though this one seems ambitious to me
Ok, so a bit of a post-mortem on the Bancor ICO. Apparently, Bancor tokens were selling for 0.01 ETH during ICO on June 12. This approximated to maybe about $3.50 USD at the time? (June 12 was a volatile day and coincided with the market top in ETH) On June 22, they started trading BNT tokens and according to coinmarketcap.com they opened near, and hit a high of about $4.40 USD and yet over the course of the last few days that value has dropped (along with ETH) to now be trading at a value of $2.54 USD. Market Cap is listed at $101,653 USD which is obviously well short of the $153 million USD reportedly raised. The math is not exact but I put this around a 30% loss from ICO to now - just 5 days after BNT tokens started trading on the open market. Here's a couple of interesting related articles :- https://bitcoinmagazine.com/articles/ether-price-analysis-heres-what-just-went-down http://www.trustnodes.com/2017/06/25/icos-temporarily-cause-ethereums-price-fall https://www.cryptocoinsnews.com/cornell-professor-150-million-bancor-flawed Overall, pretty happy to have missed this ICO. It will definitely be an interesting one to watch going forward.
NOTE - The price of ETH is similarly down about 30% from June 12 to today, so maybe this drop in value says more about ETH than it does about BNT.
I've bought ptoy around the same time for around us .12c that went up to .70c but with the Curren market down it's hit a low of 18c and currently trading at .20c approx It's understandable the market has gone down but for example ptoy is able to handle it and is still above ico price For a token to remain at ico price relative to ether price is not a good coin imo But I'm pretty sure bnt went down below ico price relative to ether at some point and I stil didn't buy in it, I have no confidence in this token Interestingly enough I sat there and watched ether go to $280 like a idiot aroun 4am and Twitled my thumbs I knew I should've pounced on it I hesitated went back to bed hoping it'll go down further
I thought this one was an interesting article :- https://keepingstock.net/hacking-the-bancor-protocol-for-fun-and-profit-6ddfb7f1cf56 Didn't exactly understand a lot of it, but none-the-less the message was fairly clear. Beware the money changers.
This hasn't been picked up by any established news outlet yet, but apparently the ETH reserve "floor" has been hit. This could be a very bad thing as my understanding is that the ETH reserve was the main thing holding up the BNT price to 0.01 ETH. It is now trading slightly below that. Watch this space :- https://www.bancor.network/bnt If anyone here is holding Bancor I would suggest you look into this and be extra vigilant for the next few days at least.
