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Bancor has lost more than half its value since June ICO

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Re: Bancor has lost more than half its value since June ICO

#41

Post by sebleon »

vkou wrote: post #38
jononor wrote: post #31

Earlier quoted context omitted.

Easier to sell to people trying to make a quick buck than doing something concrete that is directly useful. Why sell even shovels directly at the goldrush when you can manufacture the shovels...

Or write a whitepaper about how you will build a factory that will build factories to manufacture shovels. I'm, ah, seeking investors.

Or building GPU chips that accelerate deep learning algorithms that write white papers about how you will build a factory that will build factories to manufacture shovels.

Investors: I’ll accept check, btc, or pepecoin.

Re: Bancor has lost more than half its value since June ICO

#42

Post by mhluongo »

weej wrote: post #24
rublev wrote: post #20

Earlier quoted context omitted.

I think they meant that concept behind an ICO are a scam not that blockchain is.

That's the problem. The investors for ICOs are backing on blockchain as if it's some amazing new innovation that's "going to change the world".

It's just an incentive and control plane for other stuff. You still need the other stuff.

Re: Bancor has lost more than half its value since June ICO

#43

Post by chroem- »

dahdum wrote: post #10

Bancor plummeted right after the ICO. It's still above it's all time low, so it's not exactly a new thing. https://coinmarketcap.com/currencies/bancor/ There were plenty of warnings and research about how flawed their product is, including here. The lesson, as always, is caveat emptor.

Most alts are traded in terms of BTC. Bancor's dollar value has only ever gone up because increases in the price of bitcoin have occasionally offset Bancor's losses relative to BTC. Bancor's value relative to BTC has been monotonically decreasing since its ICO, which is a feat unto itself.

Re: Bancor has lost more than half its value since June ICO

#44

Post by Fej »

tibbon wrote: post #36
danblick wrote: post #2

Volatility in cryptocurrency-based securities? I am shocked, shocked.

Compared to volatility in fiat currencies? I (perhaps incorrectly) assume you live in a relatively stable and developed nation that hasn't seen hyperinflation? Should I base my views of fiat currency from things like the 79.6 billion percent hyperinflation in Zimbabwe? Neither is inherently volatile. Both can be, but it isn't a built-in trait of fiat or cryptocurrency.

Perhaps cryptocurrencies are inherently volatile. We don't know either way.

In any case, there is zero empirical evidence that they aren't, given that there has not once existed a stable cryptocurrency.

Re: Bancor has lost more than half its value since June ICO

#45

Post by sebleon »

tibbon wrote: post #36
danblick wrote: post #2

Volatility in cryptocurrency-based securities? I am shocked, shocked.

Compared to volatility in fiat currencies? I (perhaps incorrectly) assume you live in a relatively stable and developed nation that hasn't seen hyperinflation? Should I base my views of fiat currency from things like the 79.6 billion percent hyperinflation in Zimbabwe? Neither is inherently volatile. Both can be, but it isn't a built-in trait of fiat or cryptocurrency.

In most of the developing world, hyperinflation is rare too.

Re: Bancor has lost more than half its value since June ICO

#46

Post by Karunamon »

rublev wrote: post #19
whataretensors wrote: post #11

Earlier quoted context omitted.

No, not all of it. It only appears that way before looking into it more.

That's exactly the level of plausible deniability they need, so people like you come to the comments defending them. I promise you 0% of these coins will be a thing 10 years out. I'll put money on that.

I'm not sure how you can say that in good conscience when people were saying (and still say) the same thing about Bitcoin. It seems as if anyone can say it'll be gone Real Soon Now® and never be conclusively wrong.

It's still reductive, bogus logic at the end of the day.

Re: Bancor has lost more than half its value since June ICO

#47

Post by dmix »

dahdum wrote: post #10

Bancor plummeted right after the ICO. It's still above it's all time low, so it's not exactly a new thing. https://coinmarketcap.com/currencies/bancor/ There were plenty of warnings and research about how flawed their product is, including here. The lesson, as always, is caveat emptor.

This sounds like the market correcting itself. It sounds like a good thing to me. No one is pretending ICO's are a mature market.

Re: Bancor has lost more than half its value since June ICO

#48

Post by [deleted] »

Karunamon wrote: post #7
rublev wrote: post #3

What? This is like every shit coin. Tons of them tank to near zero and deflate. Anyone who thinks these coins are legitimate are fooling themselves. They are built with one core requirement, do just enough to differentiate from other coins, pump it, get out. The average person can't understand 99% of the specs of these coins, it's all speculation. The whole thing is a ponzi scheme.

Just because some ICOs can be scams is no reason to write off the entire concept as a scam.

[deleted]

Re: Bancor has lost more than half its value since June ICO

#49

Post by velcro »

ICOs are more akin to angel/VC rounds than IPOs - you often invest in a idea thats still not fully developed and might need 1-2 years to come out on the market. The huge difference to traditional investing is that shares/tokens are immediately tradable and small(ish) crypto investors have 0 patience to wait those 1-2 years so they often sell early and crash the price to go looking for another get-rich scheme.

Thats a curse of the ICOs - but also a benefit. As an investor you get to assign value to something immediately and have the freedom to terminate your investment (something very difficult with traditional angel/VC rounds) and sell the tokens. Its also a fascinating marketing strategy - some of your crypto "investors" are early adopters, promoters and users of your tech - even more so because they're vested in it.

I'm not defending the ICOs (especially the over the top ones) - but lately there are so many articles that don't really try to understand the concept. And so many people automatically equating temporary loss of value with scams. Internet and cryptos are moving at the speed of thought - but the rules are still the same - startups need time.

In all fairness - Bancor is still a very young project. Also a fairly promising one - many projects already using it: https://www.reddit.com/r/Bancor/comments/75b7us/list_of_all_...

Re: Bancor has lost more than half its value since June ICO

#50

Post by the_stc »

jononor wrote: post #31
emmab wrote: post #15

Why do so many cryptocurrency projects seem so meta? Platforms for creating platforms, coins for creating coins.

Easier to sell to people trying to make a quick buck than doing something concrete that is directly useful. Why sell even shovels directly at the goldrush when you can manufacture the shovels...

This is accurate. My startup is blockchain funded, but we have a serious money-making business model. But some people still want the sexy smart contract tech decentralized sound clips to get really hyped.

People give us a hard time because our core team is anonymous (key part of being an extrajurisdictional company). It's a fair criticism! And the most obvious.

Bancor had a bunch of smiling faces making up their top team. Does not help investors at all.

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