/biz/ - Business & Finance

>>50798597
it's not a single thing, it's a combination of factors
lots of """marines""" placed their entire stacks on bancor (or a huge portion of it) and lost a fuckton of money. so lots of them basically gave up, while others ate up bancor team's BS about their platform failing because of the link community (lmao)
conceptually similar thing with all sorts of people who lost their LINK on all sorts of de/cefi scams like celsius; all they can do is seethe and hope that those who held also suffer with them (so that they do not feel as bad)
nexo is also having problems with their LINK shorts, which massively entices them to hire shill farms to fud LINK

basically anyone who actively used a cefi or "defi" platform is now an enemy of LINK

>>49906688
>Did i miss anything
some of them also have massive, seething hatred for LINK
before the bancor happening anti-LINK sentiment was relatively low, after it the presence of ridiculously hostile posters like pic related skyrocketed

so either bancor is paying people to act like this out of spite (remember chainlink team is distancing themselves from bancor and delisted videos that featured them) or bancor users really lost their fucking mind and genuinely believe that link holders somehow caused this because of bancor team members blaming linkmarines on twitter

>>49875897
>short squeeze
this might shock you, but sometimes people short because an asset is dogshit, its company is failing and they want to get money out of this situation

you people keep spamming "short squeese", but who the fuck is going to buy bancor?
the overwhelming majority of the supply is in bancor and what little rest can be found outside of bancor is constantly used for shorts
in binance you can't even short anymore due to the massive demand, and in ftx people who lend bnt to shorters were getting 600% apy at some point (might still be getting it)

the only use of BNT is to be staked at bancor pools (maybe governance too, unless v3 changed it to apply to all assets) and as a rewards mechanism/IL insurance for liquidity providers
but everyone is getting the fuck out of bancor and "ILP" has been cancelled

so
>most of the supply is in bancor
>any BNT that isn't already shorted can only be sold
>people who get out of bancor no longer get their stack intact, thus they sell their BNT
>bancor team cancelled BNT emissions (and thus most of minting) for that reason
>people getting out of bancor en masse, they would rather lose 50% than risk losing everything
what is the series of events in your brain that will result in a "short squeeze"? how will BNT suddenly get enough buying pressure to sustain a huge pump? or is your entire understanding of "short squeezes" based on le redditors defeating le GME shorters?
protip, some shorts are completely rational. a "short" isn't prone to getting squeezed just by being discovered

if ILP is not restored soon, BNT will soon become worthless, not because of hyperinflation but because its 2 main use cases (and entire justification for its existence) will disappear
but if ILP gets restored, it's hyperinflation
i suppose only scenario of BNT not going to 0 is through a miraculous BTC pump getting BNT to pump and killing the shorts. perhaps that's what bancor devs are waiting for (now that celsius is mostly out)

>>49868577
remember, bancor users are absolutely mental at linkies
their kike team more or less blamed the link community for their collapse (>>49870773 , >>49870822) along with celsius and they ate it all up
now they are absolutely livid and you can see it in this thread and basically every bancor thread. extreme derangement (>>49871300, >>49871049)

average bancor user
0 sympathy when you lose everything. we will be laughing at you