/biz/ - Business & Finance

>>49886783
Hi Jonneh

my link is in there and i won't get it back will I, fuckin /biz/ shills

muh v3 muh get your slots now

>>49887424
>He fell for paid shills
Anon ...

>>49886783
Wrong. Chainlink God has supported Bancor for years and is a legend in DeFi.

>>49887424
I'm so sorry anon. How many tokens was it? Tell me it's not your full stack.

>>49887450
I should've known, the shilling was heavy. Fwiw, Chainlink officially endorsed v3 hard

>>49887538
10%, so about 5400

>>49887489
I follow whatever ChainlinkGod says to do

>>49887489
Imagine trusting some twitter who who blasphemy against God. Yikes.

>>49887599
Lol he made biz rich retard. What have you done?

>>49887618
You mean he contributed to getting link shorted by cefi and causing link to have shit gains during the bullmarket?

>>49887617
Retard

>>49887618
>chainlinkgod posts on /biz/
source?

>>49887649
He is right here.>>49887638

>>49887627
yup. didn CLG also lose a bunch of link in a metamask hack and do a twitter fundraiser event? kekkk

>>49887618
Assblaster did nufag

>>49887638
zach? tell me what to do next, please you're my only hope

>>49887693
based npc guy you are just like the anon version of ari

>>49886783
Liquidate it
LIQUIDATE IT

>>49887754
thank you anon sometimes i feel just like ari but with a touch of vision

>>49887785
fren we are all chainlinkgod.eth with a touch of vision

>>49887680
He also recently said steth is backed 1:1....

>>49886783
good, all the exchanges should die

people need to learn to keep their own wallets

>>49888030
why do chainlink pay him to push disinformation like that?

>>49888283
As if he's worthy to be paid by cl. Top kek.
>Oh wait, he's ari with a vision!

>>49887618
>>49887638
Fuck you, faggot.

>>49887617
this

>>49889150
He's not worthy to be paid, yet he is (along with all the other Chainlink Labs employees who post here)

>>49887618
Kek he made you down 95% vs ETH

OMG CHAINLINKGOD SUCH A COOL GUY

wow /biz/ it looks like we really cracked the case on this one! you were warned

30k bancor down the drain

>>49887576
biz is a microcosm of the world at large. The chailink retards are analogous to cnbc and the xmr guys are fox business. They're both federal funded cults

>>49887576
>Fwiw, Chainlink officially endorsed v3 hard
They didn't.

>>49887489
>>49887576
They shilled DMG as well. You can look for that chart yourself - it's the future of BNT.

>>49888030
It is...

>>49890239
that didn't stop it from depegging, did it?

>>49887489
>Chainlink God has supported Bancor for years
Are you retarded, he's been very upfront and objective about Bancor's problems as soon as they arose.

>>49886783
GEE. I WONDER WHY FRACTIONAL RESERVE SYSTEMS DON'T WORK.

We tried that once already with papers, now with digital coins, what else next? When will retards get the message that the only way this works is if we exterminate all jews from the planet?

>>49890348
>I WONDER WHY FRACTIONAL RESERVE SYSTEMS DON'T WORK.
exactly

>>49890322
what are you trying to argue

>>49890337
There are people who still sucking on clg cock, how many people lost their link because of this guy

>>49886783
>they have the following assets
>~4.07 LINK
lmfao I have more link than bancor

>>49890441
>There are people who still sucking on clg cock
What a non sequitur, truly next level.

>>49890468
go back to twitter zach

>>49890412
he's retarded don't even bother

>>49890488
I got in Link before Zach, but twitter has unironically been the far better place to discuss Chainlink and find out about Chainlink news than /biz/ these past years.

>>49890517
go back and stay there then faggot

>>49890548
You ok, son?

>>49890550
his dad beat him when he crossdressed as a teenager

>>49890550
fuck off nigger. chainlinK news is pointless. you couldn't pay me to read it because the token goes to the right.

>>49890575
This reads like a miscalibrated AI bot wrote it.

>>49890575
ignore the twitter fag >>49890550
>>49890581
obvious damage control shill is obvious

>>49890605
lmao what am I damage controlling?

>>49890581
>cant into meme
go back

>use Celsius bro!
>use Bancor bro!
what a disaster

>>49890610
clg's reputation, the controlled destruction of defi, twitter, basically everything /biz/ stands against kek

>>49890630
It is hilarious watching these defi platforms implode. Like i am not sure anywhere in history has had as many scammers.

>>49890630
>everything /biz/ stands against
/biz/ stands against Chainlink, so I don't know what to tell your faggot ass.

Also, why are you such a CLG dicksucker? I barely know the guy exists yet you faggots can't seem to get him out of your minds.

>>49890710
Is it really distributed if you can be rugpulled at any time?

>>49890745
They’re unironically twitterfags like Eric Wall and Chris Blec who got their Link fud publicly demolished by clg on Twitter, so they try to gaslight /biz/ into hating him.

>>49890773
Yet these people claim it is the future. Atleast with nations, they have a military to back up irrationality.

>>49890822
That actually makes perfect sense; whenever /biz/ brings up Chris or Eric's tweets it's all about "haha he's right, Link BTFO"; but whenever /biz/ brings up Zach it's all "omg what a scammer".

Mystery solved.

>>49890938
no whoever those people are are retards and need to go back
>>49890822
1pbti defending twitterfags
>>49890745
>why dont you like retards embarassing chainlink on public forums anon?
i hold link and I wish faggots like chainlinkgod would stfu. is he even a dev? does he make smartcontracts? no he is a shill on damage control

>>49890999
>I wish faggots like chainlinkgod would stfu
Of course you do, Chris.

>>49890999
>defending twitterfags
/biz/ is all about defending twitterfags as long as they’re fudding Link.

>>49891024
who is chris? sounds to me like you are bringing namefag drama over to /biz/ like every twitterfag out to make a name for himself. chainlinkgod is a trainwreck and that explains the price of the LINK token in and of itself.

I hold LINK and I know I will never make it.

>>49891039
Whoops, looks like you replied with the wrong id.

>>49891035
>chainlinkgod defends chainlink
no he is a retard and makes them look extremely bad kek

>>49891045
not all boards have IDs genius. its just you and me here didnt you know? everyone else killed themselves already

>>49891045
woops new ID again. how does that make you feel? mess up your analytics?

>>49891049
The only complaint against clg itt is he promoted defi projects like Bancor.
Which is exactly what Sergey did as well.

>>49891045
new poster here I FUCKING LOVE SIR GAY

>>49891059
>>49891069
>>49891083

Absolute schizo.

>>49891083
redpilled and based on solid foundations >>49891075
>the only complaint
oh my sweet summer child

>>49886783
So im not in crypto but i saw a bunch of threass in the past setting a case against bancor, my question is why did you anons stick money in there? Or was it against the crypto?

>>49891090
new poster here, again, beep boop I am a gpt3 bot. in the future paid marketers will have no job prospects and you like me will never make it holding Chainlink brand definite truth tokens (coins)
how does that make you feel?

this is a reddit space

>>49891123
Your deathbed regret is going to be monumental.

>>49891123
Time for your baseline test.

>>49891133
>here lies anon he died waiting for 1keoy
>staking will be released in his memory
anno 2089

>>49891186
more like
>here lies anon
>he liked fudding his own investment by samefagging on 4channel year after year after year while his youth passed him by

>>49891171
I love Chainlinkgod
42 was a positive contribution to board culture
I will stake my LINK and LPL on Bancor V3
I will ape into the next Chainlinkgod shill with Bancor gains
I will subscribe to Rory's onlyfans

>>49891216
you wasted my time for years i have a moral obligation to return the favor

>>49891232
based

>>49891222
checked

>>49891232
>you wasted my time for years
... what?

>>49891232
>>49891263
You're still talking to yourself after you got outed.

>>49891348
lern 2 read retard

And stop samefagging as me itt lmao!

>>49891348
i am you seeth

>>49891389
wait are all these ids you? is this the singularity?

>>49891408
yes fren this is the identity singularity. and you are also me

>>49891374
>>49891389
You need serious medication.

>>49891425
>>49891420
>>49891408
>>49891374
>>49891348
samefagging this hard

>>49891425
he's right bro you cant abuse the internet like this, it's srs bussin fr no cap

You need mediation and a priest!

This is a Serious Shill Zone (SSZ) and samefagging is strictly forbidden!

ATTN ALL SCHIZOS PLEASE REPORT TO THE DESIGNATED CRUMB ZONE

WELCOME TO THE CRUMB ZONE

ONLY CRUMB INSIDE ANIME GIRLS

>fuddie gets caught samefagging
>suddenly pretends to be a bumbling retard

many such cases

>>49891588
checked and welcome to the crumb zone

>>49891588
>17 posts by this ID
jesus dude get a life you sad sad person you

>>49891695
dude you have 13pbti itt lmao

>>49891723
He has like 30 if you combine all his samefagging.

>>49887424
how do u not understand all of these platforms are scams. no exceptions you smoothbrain nigger. society would be so much better off without you.

>>49891733
so you spent all this time arguing with him? sad man like real pathetic, why are you here?

>>49887424
>leaving your tokens with some shady "service"
Don't you remember not your keys?

I am really enjoying the comfy gains on Bancor V3. I know my tokens are safe and secure in Bancor V3

>>49891764
>him

>>49891793
shill detected

>>49891813
transsexual axe wound victim detected
sergey's re-re-release of the blog post staking announcement must have really jarred you square in the axe wound didnt it tranny?

>>49891838
I meant that it's weird to refer to yourself as "him".
But it's pretty telling how your mind went straight to trannies.

>>49891838
He's got you there anon based sergey

>ChainLinkGod
imagine taking any notice of what anybody on crypto twitter says. wake the fuck up, people

fuck

>>49891861
right, he is you and you are me. we are all anon

>>49891945
I am not you schizo

>>49886783
>4.07 LINK in the vault
I choose to believe this is not a mistype and they actually only have 4 link, having jewed away the full 7.58m.

>>49891972
fud bancor is chainlinkgod approved

>>49886783
who cares about these projects anyway? I've been with lovelace for 2 months waiting for the big gains and now I'm crying in the corner of my room thinking about how to tell my mother I want to go home

>>49887489
this has to be bait
>>49887576
>he doesn't know that Sergey is desperately trying to claw back LINK he sold early on by shilling scams

>>49887424
>dude loan out your coins and collect that 2% yield!
Why people cared about yield in fhe first place is hilarious. It's clearer now but 2% per year sucks if I lose 90% on my coin.

>>49887618
Holy cope no he didn't. He was the twitter types who all shilled link farming and massive loans against their link. All the twitter linkies got slaughtered. Which I'd be ok with but their liquidations hit biz too.

>>49887450
>>He fell for paid shills
you mean the paid fud shills?
BNT is just one of my hundreds of positions, anyway I'm not selling. Either $20 or $0. I'm waiting.

>>49887617
>Imagine trusting some twitter who who blasphemy against God. Yikes.
>MUH GOHD
There is no God other than me. I am God.

When I check the withdrawal contract it has 4,3 million bNLink outstanding and there is 3,9 million link in the vault. Still bad but not as bad as OPs pic claims. Also Bancor is only underwater on its ETH and Link positions. There also is 1.5 million link still staked in the rewards contract..
Not sure what to make of it

reminder that bancor did this in order to stop celsius and others getting short squeezed on link

>>49890623
Bancor will be fine my nigga all you have to do is not withdrawal and those Jew niggas finna make you whole

>>49892650
Exactly. There’s also over 1 million Link in the v2 contract. Idk much but I know that I don’t trust twitter fags and I definitely don’t trust /biz/ schizo fags. This board is literally the worst on 4chan. So it’s the worst piece of shit in a mountain of shit. Bear that in mind.

Bancor are currently earning about a million each day in trading fees. They have the money to pay everyone. They just have to let everyone exit in a controlled manner

>>49893033
you just described a ponzi lel

>>49893067
Even a bank can’t survive everyone withdrawing at once retard.

>>49893123
>even a bank
LOL
you're either a shameless bancor employee or actually braindead

>>49893171
I’m the guy who fucks your mother at night.

>>49892424
I've never understood this either. At all times there are hundreds of extremely skilled programmers looking for vulnerabilities in these protocols, and on top of that you put your trust in random developers not to fuck you over. I can't imagine wanting to lose sleep over 2% APY

>>49893227
try harder tourist

>>49893249
That’s insulting coming from a newfag like you. I’m a /pol/ OG been fighting the Jews since you were sucking your mommy’s tit

>>49893018
This, there’s a furious hate campaign against bancor on biz for some reason. I’m not saying bancor is in a good position now but most of what you read on here is extreme doomposting not supported by any facts. Anyone really should decide for themselves what to do and look at the on chain numbers. Inb4 retards reply to this screeching I am a kike bnt shill/employee whatever these retards come up with

>>49887576
10% isn't too bad anon could be much worse
its actually the perfect amount of pain for it to be a valuable learning experience
it stings but doesn't burn and bet now you get the phrase not your keys not your coins that has been said to newfags since the start of crypto

be really don't worry too much anon in 5 years time the difference between 55k or 50k link wont keep you up at night

>>49893300
2 bancor has been deposited in your account
it is automatically staked and you are unable to withdraw
but keep up the good work and when you reach 100 staked bancor we raise your apy to 0.2, you still cant withdraw tho

>>49893300
your a dumb bancor jew

>>49893322
You sound dumber than an inbred nigger. This is shitty fud.

>>49893287
>OG
you're not very good at this, shill

>>49893383
Suck my cock

It's kinda stupid that they halted IL insurance. If bancor would just devaluate 10x and people would get loads of increasingly worthless bancor instead of their tokens, at least they could've said "well this is how the system is supposed to work, it's right there in the docs".

>>49893422
Post your short, nigger

>>49893422
..and then they could start from scratch by soliciting new liquidity providers with the new bnt total supply, at which point it doesn't really matter anymore. But now they have just totally fucked themselves forever.

>>49893452

>>49886783
T

>>49893374
i am exactly insulting the shill more than the network itself
regardless of tokenomics, shills can be paid in dumb scheme that ends up with them getting rugged in the end even if the token were to moon
but not in this case the token will not moon

>>49893478
>tattoos
Disgusting degenerate trash

>>49886783
BANCORCONNEEEEEEEEEEEEEEEEECT

>>49892650
The number of withdraw requests for link have been accelerating. More small accounts ditching. Although there are >10k link withdraws in there too. Bancor will still be left with a bunch of 50 link LPers who couldn’t be arsed to withdraw, and some people who died.

>>49893422
There might be a lot of things Bancor can’t do in their situation. But one thing they can do is print Bancor to fulfill their contracts. They chose not to.

>>49893744
Good. As a BNT holder, I don’t give a fuck about your short or your IL. No refunds. Now fuck off.

>>49893768
>as a bnt holder
OH NO NO NO

>>49890348
>literal kikes invented another fractional reserve system, this time in crypto
>somehow people still fell for it

>>49893877
It’s not a fractional reserve system. It’s just a fucking AMM holy shit /nubiz/ is fucking retarded it’s frustrating.

>>49893768
What’s your exit strategy?
The bnt market already looks fictitious.

>>49893950
>have a system with 7M bnLINK
>only have 3.5M LINK to withdraw
sure thing kike

>>49894032
It’s called impermanent loss retard. Learn how a fucking liquidity pool works dumbass.

>>49888030
>>49890322

Yes. You can exchange 1 stETH for ETH after the merge from the protocol. But people who want to trade their stETH back to ETH now, the Curve pool isn't balanced and heavily favors stETH.

>>49894073
impermanent loss is now off thanks for playing enjoy fractional withdrawals
>its a smart contract so there are no withdrawals

>>49887618
Made /biz/ rich? Dude, who do you think taught him about Chainlink in the first place?

>>49894001
I’m holding this shit to 0 or whatever. I’m poor as fuck so I don’t have much else. 1.5 eth and 200 link. I’ll probably just leave them on Bancor too and see what happens. Although I did initiate the withdrawal cooldown to see what the IL haircut will be. Have 5 more days to wait.

>>49894073
>impermanent loss retard
lmao the only permanent loss will be the retards that used bancor
enjoy the 50% haircut now

>>49894091
Impermanent loss protection is off. Do you not know anything about crypto or defi newfriend?

>>49886783
>It's over for bancor
it never started

>>49894124
Nah I’ll just leave my shit staked and collect fees from the panicking vaginas.

>>49893300
You could post other stats to disprove the OP anon.

>>49894112
people this poor should be shot on sight kek
>>49894136
yes the only selling feature of bancor is off and you will enjoy your 50% loss or you will lose everything and you will be happy

>>49894112
>Im poor and and an idiot please listen to my opinions
lol no.

>>49894189
Thanks for being concerned about my financial well-being. I’m sure it’s out of the goodness of your heart. I’m not that poor I just don’t put all my net worth in volatile extremely risky assets like a retarded degenerate.

>>49894217
do they only pay you in bnt or other crypto as well ranjesh?

>>49894180
>has a 100% haircut now
lol
lmao even

>>49894217
you have hardly anything in bancor and have already initiated the withdrawal process but you are here to what lecture me about risk?
weird shill but okay

>>49886783
Please do not come back until you can learn English, or when you you are no longer a bot.

i find it truly and remarkably ironic that these people get fucked by the exact thing the blockchain was trying to address: centralization

>>49894301
You think I’m weird for defending my bags? Yet the hate in response is totally normal? I can smell a coordinated fud campaign and you all are it.

>>49894379
bancor fired the first shot when they blamed linkies for wanting custody of their own tokens

Does anyone have the addresses of the contracts from which LINK and ETH are withdrawn? I'm thinking it might be good to look at some of those that anticipated this fuckcluster and perhaps follow one or two trades...

>>49886783
i was literally warning about a bank run on bancor for YEARS and i was told it's never going to happen

fuck you, you gaslighting bancor shills, i am vindicated

>>49886783
If enough people withdraw without IL protection it will balance out though right?

>>49894655
That and 1 million per day in trade fees. Celsius chose to withdraw taking a 50% loss.

>>49894655
Kek, why would that be the case. I truly can't believe that people still don't understand.
>LPs have given Bancor 100 LINK
>Bancor only has 40 LINK
>LPs are trying to withdraw 80 LINK
Bancor literally does not have the funds. They would have made up the difference by printing more BNT, but at the current rate of withdrawal it would send BNT into a death spiral.

>>49894611
This was a trick by Jews to get far right LINK holders to panic into giving them half their stack. People feel like they might get nothing now and are hamstringing themselves. I'm only half kidding. Is Bancor insolvent I.E. they don't have the funds to pay the withdrawn amounts?

>>49894611
well, be honest you gayl0rd.
You said there would be a bankrun because the russian scammer for sure would release staking and all the link would exit for those sweet .5% yields(things that will literally never happen)
You were right about the bankrun though so, even retards are right sometimes, so congrats on that.

vBNT holder here, I will be supporting any proposal that gets the stinkies out of Bancor ASAP, they have made a fortune printing bancies for long enough and at the first smell of fud paniced at the expense of everyone else

>>49894655
It won’t balance out. The pool will shrink, but the proportion backed by the asset in the vault will stay the same (53%).
Smaller pool would mean future deposit would have bigger impact, but it’s not easy to find suckers willing to take a 47% haircut just by depositing.

>>49894717
>That and 1 million per day in trade fees. Celsius chose to withdraw taking a 50% loss.
and what does this tell you?
The 50% loss though, is being offset by them selling off there BNT LM rewards they got during 2.1 which being the majority staker == 100m or more dollars.
This is the actual reason that the ILP is failing, the sell pressure from those dumps was almost something they could have survived, but pulling the LP for the majority staker was not survivable.
Celsius mistake was selling the rewards before pulling there LP...

>>49894861
Kind of agree. And the hate and vitriol that they are spewing against bancbros is just disgusting after we funded their neet lifestyle for years. As a BNT holder I’m sick of these motherless cunts dumping on us. Gas them all.

>>49894861
>im too stupid to understand why fractional reserve banking is bad.
>>49894973
>we funded
Nice to know your not even hiding who you are.

>>49895054
Good lord you faggots are dumb. As a BNT holder I am literally funding your dumps by holding the token you are dumping. How do you not understand this?

>>49895102
>>49894112
>I don’t have much else. 1.5 eth and 200 link. I’ll probably just leave them on Bancor

Nah, thats a lie. Fuck your mother faggot.

>>49895152
I have that and 2000 bnt holy shit what is your problem? Does being dumb make you angry?

>IL protection is off
So then just withdraw when you don't have as much IL. What's the problem?

someone just withdrew 150k of bnt which is enough to crash the price if they dump on the low liquidity on the market right now.
interesting times...

>>49895458
>just wait until they get millions of dollars worth of ETH and LINK deposits, bro
Kek, I'm sure people just can't wait to put their stacks on Bancor now.

>>49896090
Are you able to short this yet?

>>49896090
Someone withdrew 4m BNT yesterday, nothing happened. Stop spreading lies, 150k is nothing.

>>49893171
yes and I am the guy who fucks your mother during the day kek

>>49892614
Walk on water. If you can’t. You are not God.

>>49896272
Arbitrate is your friend

>>49896272
>shorting something with a negative funding rate
go for it bro!

>>49894861
This desu Im a linkie myself but the shit they’ve been screaming over the past week is just bizarre. No wonder Sergey hates his community

>>49886783
>decentralized
>halts service
LMFAO

>>49887424
>my link
thats not how that works buddy lol

>>49896623
Thanks, I will! There is no way Bancor recovers from this. None. Anyone who tries to tell you otherwise is a shill or wants to save their stack.

>>49887618
assblaster did newfag lmfao

>>49896806
I'm not suggesting Bancor can recover, but just giving you a warning. BNT could pump on the huge shorts having to close before it dies.
Remember that those shorts were entered into on the expectation that infinite BNT would be printed in IL protection, but now it's not being printed. Those shorts have to close as some point, especially if they include Celsius who need to wrap things up ASAP, and Bancor can sit indefinitely with ILP turned off until they do.

I'm not defending Bancor, I'm not saying "invest in Bancor", I'm saying that there is more of a risk than you think in shorting it, because it could pump before it dumps.

>>49887618
Nobody on /biz/ is actually rich. We’re all poorfags larping as rich.

>>49896977
That's exactly why IL was turned off, Bancor is taking the shorters down with them. Always trust the jew to have a Samson option and use it. Worthy of some respect for that at least.

>>49895338
>20 posts by this idea
interesting

>>49897292
Phone posters get the rope absolutely disgusting

>>49886783
arguments against bancor
>team being extremely defensive, dismissing user worries and theories that indeed ended up happening as FUD
>the entire reason to park your money in bancor, ILP, has been cancelled. even if restored, people are aware that it can happen again at any time
>ILP was cancelled retroactively, affecting users who were already in the 7-day withdrawal process
>bancor isn't defi, as the devs can change and rewrite the rules at any time in accordance to their will
>bancor required active intervention to not enter a "death spiral" during a mere bear market; it cannot survive organically
>massive amounts of people (including whales) take the 50% loss to get out of bancor, indicating extremely low faith
>literally everyone is shorting. shorting is in such high demand, many exchanges ran out of shortable BNT. FTX offered 600% APY for people to lend BNT to shorters. basically the market has spoken
>if ILP is restored now, BNT hyperinflation is still on the table. if ILP is not restored and enough people abandon the platform as a result, BNT could lose all perceived value anyways since its only use is to be staked at bancor and to provide ILP protection and rewards

arguments for bancor
>FUCK OF CELSIUS SHILL
>YOU FUDDERS SHOULD ALL DIE
>FUCKING NAZIS STOP BEING ANTISEMITIC
>THE TEAM IS MAKING LOTS OF TWITTER POSTS THAT MEANS THEY'RE LEGIT
>CELSIUS SHORTING AND CHAINLINK NAZIS WITHDRAWING CAUSED THIS
>WE WILL SQUEEZE THE SHORT! NOBODY IS BUYING AND MOST OF THE SUPPLY IS LOCKED IN THE PROTOCOL, BUT IT WILL HAPPEN SOMEHOW!

>>49896090
he didn't receive any bancor, read the picture you posted again

>>49898022
>my arguments: cohesive, very well thought out
>your argument: I am silly!

>>49898022
you forgot my fav:
>WE MADE YOU LAZY NEETS MONEY SO YOU SHOULD BAG HOLD LIKE ME TO ZERO LIKE ME!

Day 100 of bancor being definitely dead

>>49898210
yep
they act like they made you a favor or something
and as if getting out of the protocol is somehow "hostile" or "ungrateful" behavior

>>49896623
retard, this means that the shorts are paying longs, meaning that the incentive on the market is to short this asset

>>49898022
topkek because true xD

>>49898022
The short squeeze argument is not an argument for Bancor, anon. It's simply an observation that the shorts were entered into on the expectation of an ILP death spiral that is now off the table for an indefinite period. And that Bancor can sit there with ILP turned off for a lot longer than the shorts can stay funded. In fact, give that the death spiral would restart as soon as ILP got turned back on, it looks like that is the position Bancor are forced into.
The fact that most of the supply is locked in the protocol is not proof against this, it means a lot of BNT holders can't even sell if they want to.

Consider it also in light of the fact that Celsius already dumped all their liquid BNT (dropping it from $1 to $0.60), and that when the ILP cancellation announcement went out (the most bearish possible news) the price didn't dump any more. Not because anyone was bullish, but because there was so little liquid BNT to dump.
I think it's disingenuous to wrap the short squeeze argument up as an "argument for Bancor" when it's really unrelated.
Personally I think there is a substantial likelihood of a squeeze, but that has absolutely nothing to do with actually being bullish on Bancor, just an observation of the market conditions and how they have been affected by ILP getting turned off.

>>49898471
With what? Where will they get the BNT from? The shorts are all already maxed out.
The expectation was that Celsius would get ~10 million BNT in ILP to dump with, and that everyone else in the bankrun would continue to get hyperinflationary BNT on the back of it that they would continue to dump.
But that's not happening any more. There will be no more ILP payouts. Whatever BNT is still on the platform can't go anywhere. All the liquid BNT that Celsius had has already been dumped.
The BNT price hasn't stabilized because the market suddenly found a lot of buyers, it stabilized because the whole system got turned off and basically locked. How do you keep funding shorts against that?

>>49898661
>>49898836
"I need an exit pump for my BNT": the posts.

>>49896090
Nexo dumped 3.5 million BNT in 1 hour yesterday and barely moved the price.
Why would something so small do something?

All I can see from this is that a big whale is accumulating from the panicking people.

>>49898661
BNT doesn't dump just from hyperinflation
BNT has only 2 uses:
1) be staked in bancor pools for APY
2) be given to liquidity providers as a reward and to make up for any impermament loss

if both those use cases are lost, the token is officially worthless. 2nd use case is already lost (until they restore ILP, but then the hyperinflation scenario is back) and the 1st case is in danger once everyone is out of the protocol and the APY is not enough to justify the increasingly massive exposure risk

so i wouldn't worry too much about shorters
the overwhelming majority of them are already in the green so it's not like they're running out of time
looks like the only "strategy" of the bancor team right now is to wait for a miraculous BTC pump (getting all altcoins to pump as well) to kill the shorts and pray that things will not collapse until that happens. while a BTC dump would give the shorters even more profit and even more time to stay in their positions

IL% is dropping at about .5 per day. So it’s currently similar to the 100 days until protected feature in 2.1

>>49899137
Anon I'm not trying to make the argument that the BNT token is a good buy or is even worth anything at this point. My point is about available liquidity to move the market either way.
With both BNT printing turned off AND the protocol locked, preventing BNT holders on the platform from selling, where does further liquidity come from to dump?

There are two places. The first is BNT that wasn't staked on the platform in the first place, and the second is BNT holders who initiated the 7 day cooldown. The question is, do those two things together constitute enough liquidity to overwhelm the necessary rebuys that have to happen when the shorts get closed.
I am not telling anyone to long, I am not arguing anything at all in favor of Bancor itself, I am simply explaining my read on why it might pump in these conditions, and why the shorts, which were extremely obvious and desirable plays when the IL printer was on, aren't in the same position now.

>>49899302
>Anon I'm not trying to make the argument that the BNT token is a good buy or is even worth anything at this point
yeah i understand that, i am just pointing out that inflation from ILP is not the only scenario where BNT dumps to nearly 0, it can happen even with the cancellation of ILP. selling pressure comes from the massive amounts of shorts (that are in incredibly high demand)
the current situation is the calm before the storm

plus i do not believe that shorters are in a precarious situation, rather they have time on their side

>>49899190
They seem to have not gotten it right, i wonder what happens next to Bancor.

>>49899190
how do you know this?

>>49899407
Right but the BNT tokens get sold when the shorts are entered into, so the selling that happens in relation to the shorts has already happened. And shorts are maxed out on Binance because there's literally no more liquid BNT for people to borrow and sell.
This is exactly what I'm saying.
And the shorters have to keep funding their shorts, whereas Bancor pretty much has to keep ILP off as long as possible (because as soon as they turn it on it will just death spiral again), which could be months. I don't see how time can be on the shorters side here.

>>49899492
I expect them to reinstate ILP, with the same 7-day delay for the staked-tokens, but a random duration 6mth-1yr delay for the BNT provided in compensation for IL. I don't think it'll work though.

>>49898287
lol flip flop!

>>49887489
ChainlinkGod is a larper poorfag college student with less than 1000 link who tries to pass off high IQ takes off /biz/ as his own original thoughts on twitter. There is no faggot more insufferable

Imagine taking his advice, on anything

>>49899501
I just look at my wallet. I can withdraw now

>>49887617
Based. Christ is king

>>49899621
If it isn't going to work then is it worth attempting?

>>49899072
This sorts of scenerios envisage why we need regulations in the DeFi space.

>>49900119
Don't you mean in the CeFi space?
Is it normal for a CeFi platform like Nexo to move 40000 ETH or 25% of their total ETH holdings to Binance 2 hours before ETH had its lowest price last week end?
https://etherscan.io/tx/0x3c5ad1e2ba4977b4665ba7de20c4912bd277d476e9dd773ca0170b7b08ed3bf4

>>49899902
so you just wait 100 days to full withdraw? That can't be right.

>>49899940
I've been wrong before. It's definitely extremely risky though.

>>49899756
Where is your evidence for this? Otherwise bs

>>49893033
>a million each day in trading fees
More like 30k. I'm stuck on bancor and huffing copium as much as the next guy, but come on dude.

>>49900172
I do think both CeFi and DeFi does need regulation and to be honest DeFi need a DeFi customed regulatory infrastructure kudos to Alliance Block for being a pacesetter here.

>>49900455
He got exposed a few months ago with proof. I cba to find the archive but it's there

>trusting jews

I have no horse in this race because I’ve never used Bancor and don’t plan to, just having fun watching this from the sidelines. I don’t know if Bancor will survive or not. When is shit going to really hit the fan? Or are we stuck in this limbo of them not turning IL back on and people not knowing if withdrawing and losing 50% is worth it.

>>49887424
>my link
their link.

Apparently they have proposals they are going to bring to the DAO

https://twitter.com/Bancor/status/1539656118427058177

With 3AC and Celsius out, should be a fairer vote

"Soon"

>>49894731
>LPs have given Bancor 100 LINK
>Bancor only has 40 LINK
>LPs are trying to withdraw 80 LINK
40 LINK isn't that many
All of this hubbub over $260 worth of LINK? Shoot I could just bail them out for $260

>>49901404
Many wow

If I were retarded and staked like a week before this shitshow began and then started withdrawing, will I get kiked with a 50% loss? Or do I just have to eat the IL, which should be close to nothing because the price kept fairly stable?

>>49901574
Maybe initiate the cool down but you would be mad to withdraw now if they are going to have proposals to the DAO in the next couple of days, might as well see what they are suggesting. Starting the withdrawl doesn't lock you in, after 7 days they will show you what you will get and you can proceed or decline

>>49901574
50% loss

>>49901404
I used small numbers so the peabrains could grasp it. The fact is that they hold only about 40% of the LINK that was provided. Also, why is that gif saved to your computer?

>>49901574
>the IL, which should be close to nothing
Haha, the IL is based on TKN:BNT pair and BNT halved in value since a week ago. You definitely have IL.

More accurately though is this: it's not based on IL at all, it's based on the ratio of bnTKN to TKN held by the master vault. Your entry point means fuckall if the protocol has accrued IL beforehand.

In other words, if the protocol has 3.8m LINK, but there is 7.1 bnLINK, then if you deposit your LINK now you are immediately slapped by that deposit*(1-(3.8/7.1)) loss. It doesn't matter if the LINK:BNT price hasn't diverged since you entered, because it racked up liabilities before you got there and by jumping in you agreed to hold them.

I wish I knew this a week ago haha

>>49902052
Bros, I thought jews were supposed to be good with money.

>>49902124
They are good at turning everything to shit and get bailed out

>>49902124
they are supposed to be good with getting your money (exactly what's happening)

>>49902052
yeah that's another point often overlooked

everyone spams IMPERMANENT LOSS, but it's not really impermanent loss. if that was the case, then people who got in shortly before this whole mess started, they would be able to get out with minimal IL due to relatively low price volatility
in reality everyone gets out with a 50% cut, whether they joined 3 days ago or 1 month ago

now deposits are suspended, but if you were to get in you would be immediately exposed to the lack of LINK reserves (despite depositing link there yourself) and get the 50% goy tax
that's not IL, that's dogshit design

Bancor, celsius, nexo, terra. The liquidation event of this cycle. Wonder what will happen next? What ever is going to happen it was set into motion a long time ago. It is inevitable.

>>49890337
CLG was in link discord this weekend saying he couldnt criticize bancor because he didn't want to jeapordize his connections.

Keep up nigger

>>49903526
>LINK discord
kys

>>49903526
kek clg is a massive faggot

>>49902791
Liquidation events are accelerating, so far every month 2x more liquidations than previous month, that means 4 major liquidation events in the next few weeks

>>49903619
This. I could kill that faggot in one punch.

>>49903665
Punch a Zach

I don't get it, what's the rush? Just wait until everything cools off and the market conditions becomes non hostile again.

>>49903754
naive. this is an exit scam. you risk getting ZERO if you don't withdraw and take the hit to your stack.

>>49903801
They are saying if you are patient, we will make you whole

They have a track record of doing this when everyone said they were doomed from the hack

Leave now and you lock in a large loss

Why not be patient and see?

Imagine losing your linkies to fud and panic

>>49903914
because you risk losing EVERYTHING. zoom out and look at the bigger picture here, anon. all these funds are in big fucking trouble.

>>49903801
These Jews could have exit scammed years ago. They are already filthy rich from the ico. They could have exit scammed when they had almost $2 billion tvl. This is hands down the worst timing for an exit scam.

>>49903946
True but crypto is over. It's down to zero from here for the foreseeable future (next 5 - 8 years).

>>49903946
their entire point of usefulness is going to be gone after all of this though. they've lost all trust and they have been outed as not being an AMM but a collateralized liquidity pool. ccip on the horizon makes this obsolete.

>>49903932
What if he wants to take that risk? Why is biz absolutely fuming at the mouth about bancor even if they don’t have funds stored there? Lmao

>>49904004
Bancor took a jab at linkies and now the latest is that bancor is the reason chainlink isn't pumping. Yes, really.

>>49893306
Well said

>>49904046
Super retarded fud detracts from legit fud

Is there A SINGLE defi project that will still be around in 2 years?

>>49904107
CHAINLINK

>>49904004
by all means, take the risk. advising others to do the same without seeing the big picture is retarded though.

>>49904107
Nexo

>>49904104
Don't shoot the messenger. Linkies are falling from the sky to bitch about bancor right now and now we are back to "we are gonna withdraw all our funds from nexo to squeeze them!" link holders are the most depressed group on /biz/ and I can't blame them since I held up to the top and all the way down as well

>>49904282
add to the fact that an unlimited short has been initiated by these funds and might be the very reason it got dumpstered so hard over the past year. it's incredibly dirty. get deposits > sell on binance for usdc > usdc on lenders for more link > back to binance to sell. it's fucking amazing and i can't wait to watch the fireworks.

>>49904282
Unsure where you're getting the 'depressed' notion. Speak for yourself, anon. I'm a 'Linkie' and I've never been more excited about anything in my life than the coming months. I have a stack of Link the size of the Burj Kalifa and soon I'll be reaping the rewards of my steadfast commitment to this project's success. Fud away all you like, but you know us Linkie's have as good as made it, and we're just shooting the shit until we become set for life.

>>49901574
Ohhhh bancucks :) im gonna buy all of your linkies from the pool so when you withdraw you get nothing.

As a link holder its in my best interest to destroy my competition, because long term we are in direct competition for staking rewards and liquidity to dump our bags.

We have a chance to make bancor linkies lose all their link if we drain the pool

>>49904370
No one has ever been this confident in something and actually made it. I never heard Eth fags talk like this and definitely never heard BTC fags talk like this-in fact they were super humble in the beginning and were like “yeah this is something that could go to $1 million but maybe not. Either way it’s cool.” I hold Link too but y’all niggas is insufferable

>>49904114
Retard.
>>49904126
How is nexo safer than all the other yield defi ponzis?

>>49903639
They expect some of us in the wreckage, brother

>>49904938
>I never heard Eth fags talk like this and definitely never heard BTC fags talk like this
newfag

Ooooh shiet Celsius have finished their cooldown but haven’t withdrawn and eaten the loss without ILP.
We got ourselves a stand-off boys, yeee haw.

>>49906111
they are on borrowed time. Bancor will win

>>49906135
I feel the same way. Bancor can sit and do nothing for months. Celsius has to close shorts and pay down debts. Which is why it’s interesting that Celsius are digging their heels in.

>>49906111
That’s eth, not link.
They were probably offered near 0% of their eth and 0% bnt.

>>49887424
>fuckin /biz/ shills
You have no excuse
I have seen both sides of the conversation posted in here, you chose to believe what made you feel better, you fell for it yourself

>>49906257
Right, but what choice do they have? There is no chance Bancor is going to turn on ILP while Celsius are sitting there waiting. Bancor has all its clients funds hostage and doesn’t have to do anything.

>>49906409
They can keep scheduling a withdrawal and force Bancor to make a deal, or Bancor needs to come up with something else to fend them off.

>>49906473
The deal is some miserable percentage of the ETH they are entitled to. Bancor says “you get back 100% of your position but it’s 20% ETH and 80% BNT” except now Bancor don’t even pay out the BNT part so it’s “take 29% off the ETH or just stand around shedding money until your shorts get forcibly closed and you get nothing”.
That’s literally the scenario. Bancor doesn’t have to do anything and every day that go by Celsius gets more fucked.
Of course the long term outcome is that Bancor basically destroys their number 1 LP and nobody ever stakes with them again, but it’s scorpion and the frog shit. If I go down you go down too.

>>49906578
“20% of” not “29% off”

>>49906055
Not a newfag ive been exposed to crypto since 2009 nigger. I fuck your shit whore mother BENCHOD

>>49906638
what?

>turns off IL, the key feature that brought people to the protocol in the first place
>feature is turned off because the design of the protocol is inherently flawed
>Bancor team throws shit at all walls hoping something sticks by blaming linkies, Celsius, etc for trying to withdraw funds, which is completely allowed
>Pivots to blaming “hostile market conditions” instead
>Tells users that they can still withdraw but will lose over 50% of their stack because they are under collateralized
>Sends a bunch of shills to biz to try and convince them everything is A-OK
Did i miss anything? I don’t have any skin in this but from an outside perspective this shit is fucking ridiculous

>>49906688
>I don’t have any skin in the game
Sure sure you don’t

>>49906578
What is the likelihood of a BNT squeeze? I'm one of the fortunate few who started the withdrawal when they turned of ILP. Should I hold the BNT once the lockout is up? It's worth a fraction of what I paid for it anyway.

>>49906688
Yeah this is about my read of the situation too. Their reputation is shot, who the fuck is going to use them again when they’ve proven they’ll change the rules whenever they want. Celsius are parasites but they have a right to withdraw what they put in

>>49906578
It’s a scorpion and a scorpion

>>49906801
I’m yet to see an argument against a squeeze. Which is not to say anything with certainty, but there is no liquidity left to short and Bancor can just sit in this position indefinitely while all the shorters have to cover at some point.
I am fully open to an argument against it but so far none have been put forward.

>>49906409
>There is no chance Bancor is going to turn on ILP while Celsius are sitting there waiting. Bancor has all its clients funds hostage and doesn’t have to do anything
this, except this isn't a good situation to be in, it's a horrible situation
BNT only has value from 1. staking rewards/ILP and 2. getting staked in BNT pools. without one of these, it partially loses its reason to exist. without both, it is as useful as NIGGERCOIN

it has already completely lost use case #1, though perhaps not in the minds of some people as they may expect ILP to be restored soon. the longer that takes, the fewer people will hold on to that hope
and use case number #2 is under danger if the APY% gets too low to justify remaining in such a risky position
in other words BNT can go to 0 without hyperinflation, just by losing the very reason for existing (token not needed)

ILP cancellation happened on the 20th. before the ILP cancellation we were seeing 5-20 pending withdrawals per day (with the number being closer to 20 as confidence started waning). after the cancellation we were saying hundreds of pending withdrawals within hours
it will take up until the 28th before these massive withdrawals can be executed; whether bancor survives or not will depend on what percentage of these transactions will be actually executed and what percentage is merely people who are playing it safe

>>49906826
>they have a right to withdraw what they put in
That's probably not true contractually. Lending them your shit most likely gives them the authority to do whatever they want with it. Terms and conditions in an unregulated market, better luck next time etc.

>>49906865
That would be hilarious and completely par for the course in this clown market. But I imagine there's little faith in bancor long term, so anyone who actually has tokens to dump (which includes the team) would probably offload them as quickly as possible during any squeeze, killing any momentum. Which makes it the perfect bag for /biz/ retards to shill in 50 threads per hour.

>>49906826
They didn't change the rules, this was within the rules

>>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

>>49906982
I guess it depends on the short interest and if/when they have to lay it back.

>>49907026
>They didn't change the rules, this was within the rules
true
bancor was centralized all along, the idea of bancor being defi was a lie
their fault for falling for that lie i guess

>>49906982
Honestly I think if a squeeze was inevitable,the only party with mass BNT to sell into it would be the team themselves, and they would do so. Whether they share the profits around would be another question entirely.

>>49907046
>linkies crashed the entire crypto market to make it easier for their WEF overlords to kickstart the great reset

Why are linkies so evil?
>captcha YYYxx

>>49906865
most BNT shorters are already in the green (some of them massively, it depends on when their shorts were issued) so they have time to wait
due to massive demand for shorts, you can't even short in some platforms; most BNT ends up getting shorted

BNT only exists for ILP/rewards and to stake it on bancor (for the amm to function)
but with BNT payouts disabled (except for BNT stakes), it has already lost the former reason for its existance
and the latter reason could soon be lost, as an AMM requires liquidity of other assets. if most of liquidity flees the protocol, bancor is nothing but abandoned pools full of worthless BNT, not used for swaps and not having any reason to exist
that's how BNT can go to 0 other than hyperinflation

>>49903754
>Mt Gox will get me my bitcoin back once the market returns to normal

>>49907093
Those clowns are not going to give any handouts. They will cut and run as soon as the gig is up. I bet they are formulating an exit strategy right now that benefits THEM and THEIRS at the expense of us users. CCIP, staking and proof of reserves would have unironically solved this issue.

>>49906795
>did i miss anything?
Retard

>>49906243
Yeah I am sorry but I don't buy the "BANCOR HAS LOT ALL TRUST" shit because of that exact reason. Clearly there's a lot of room for improvement but I find it humorous that the response to this is
>nooo you have to let your protocol death spiral because it is decentralized finance
Doesn't mean it won't but this is definitely a more preferable option. We will see what happens in the next week I guess.

It's about time!!! Crypto-maniacs! Shall we begin?? I kinda knew would happen... The paradigm shift has already begun...