Is BANCOR ICO a scam?
The ICO market is crazy. There is so much money out there.
There are amazing ICO investment chances, but there are also ....
I don't say Bacor is a scam. But I would not invest in it.
First, when I saw it and read the whitepaper ("Smart Tokens", giving a solution to the liquidity problems of many coins), I was impressed.
But then I checked more:
- The craziest thing about Bancor is, they offering a Smart Tokens, but the ICO terms of Bancor is the worst I ever saw since I'm investing in cryptos.
- Nobody knows how big is the market cap (1 million, 1 billion?). Why on earth do they make a secret market cap?
- If your Eth investment (in the first 1h) will be arriving after this hidden market cap is reached, 80% of your money (eth) will be transfered to a locked smart contract for TWO YEARS. After the two years "all remaining eth will be allocated pro-rata according .. our Token Creation Terms." (What ever that means)
- I couldn't find any successfull project, even one member of the team did before
- How much money is enough for the Bancor team? How much is the value of this smart contract code? More than 100 million$? If the ICO reach 500 million$, for what do tey need this amount of money?
- Who can garantee that there is not a DAO 2.0 and the smart contract code has a bug and all money (and all token) will be lost?
- The investors will only get 50% of the tokens.
Excellent post dear friend @mikelmunich very interesting, there are so many criptomonedas and tokens out there that you have to be very careful where you put the money to invest, thank you very much for this interesting information
Agreed. The terms of the ICO are very dubious in my opinion. They are accepting all contributions made within the first hour. Essentially this means there is no cap on the number Bancor tokens created. Not to mention that only 50% of the tokens will go to investors.
If people still want to invest, I would suggest waiting until the cap is revealed. If the total invested so far is above the cap, it's probably not a good investment.
The cap is 1 million ETH according to https://www.reddit.com/r/ethereum/comments/6ghcu1/the_bancor_ico_max_cap_is_1_million_ether/
Well now we know. 397k Ether valued at $145m presently. Not enough to beat TheDAO.
Oh Boy this does not sound promising
i already invested
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I just want to share the coin information and share it.
In addition to the NeverDai ICO information posted today, I would like to ask you for ICO information frequently.
https://steemit.com/ico/@maxtill94/nevedie-ico-full-analysus-why-you-should-buy-neverdie-coin-gaming-cryptocurrency-coin-comparision-with-gamecredit-mobilego-first
Sure seems like a #ponzischeme
Found this article on my #googlesearch @bitcoin1488
So did an update. Keep me posted.
https://steemit.com/steemit/@bitcoin1488/steemit-resteem-upvote-auction-also-on-ebay-as-a-reserve-auction
Good points in this post. Interesting to see I'm not the only one that is thinking about this. Estate or plastic cups, people should always do their research. due to the anonymity behind coins even more so. I really advice people to take a look at: https://www.coincheckup.com This site is really helpful in my coin research. I don't know any other sites with so much indepth analysis. Check for example: https://www.coincheckup.com/coins/Bancor#analysis To check Bancor Research report