How does Bancor work sans order books?

[Anonymous No.10834779]

How does Bancor work if it doesn’t have an order book? They say it’s a formula but how’s left holding the bag. It seems like the crypto equivalent of printing continued money.

[Anonymous No.10835085]

>>10834779
*whos left

[Anonymous No.10835282]

>>10834779
you're trading with a smart contract that holds the token and their shitcoin, equally weighted in value at time of creation.

bnt is created/destroyed when buying/selling to the bnt contract.

the only person ever left holding the bag is the relay owner if someone decides to dump the token and drain all the bnt from it.

[Anonymous No.10835305]

when etherscan is back up search for relay and you can see them all and the balances.

also, never buy bnt.

[Anonymous No.10835411]

>>10835282
It seems intuitive from my experience, guaranteed liquidity is and the absense of a middleman riddles my why this is a premier exchange. Why should one avoid bnt btw

[Anonymous No.10835503]

>>10835411
>Why should one avoid bnt btw
i assume you're in this for $. don't go buying an exchange token that will dilute itself over time, is run by an exchange that was hacked and a team that's been hated since their ICO.

i'm not saying don't use the exchange because for some tokens it's the easiest way to buy and you find occasionally find gems before they go to a larger exchange.

[Anonymous No.10835576]

>>10835503
thanks for the response, politics aside, what would be the drawback if this system was universally adopted, it seems to eliminate methods of manipulation. I assume the absence of stop loss/buy orders etc, is the balancing compromise

[Anonymous No.10835714]

>>10835576
>it seems to eliminate methods of manipulation
Sounds boring desu :^)
Their system doesn't stop a presale ICO buyer from dumping into a relatively small reserve, draining it of BNT. It also doesn't stop someone buying a low reserve coin, showing a big % gain, causing a little fomo and then dumping after new buyers get in.

>I assume the absence of stop loss/buy orders etc
Yeah they really need to get orders on the platform if they ever want to climb the exchange ranks.

I would like to get more into this but need to go. I recommend avoiding emin gun sirer and kyle samanis criticisms of bancor because they didn't read the wp and make incorrect assumptions. old threads on the bnt plebbit (probably from late last year to early-mid this year) will have discussions regarding manipulation, reserve draining and other stuff

[Anonymous No.10836640]

>>10835714
I like the way you think, youve settled my curiosity,m. Everything aside, what allows its price to remain stable relative to the pricing held from other exchange listings. This protocol seems quite isolated and non dependent.

[Anonymous No.10837009]

>>10835714
>>10836640
>Bancor shill talking to himself.
This is a heavily manipulated token created and controlled by fed reserve people.

It has bigger backdoor holes than a retired hooker. Bancors true purpose is to manipulate the prices of all ERC20 tokens. The devs can add or remove bnt tokens at will. Literally putting manipulating the market as they see fit. Their excuse is that the contract isn't robust enough to work independently. I don't it ever will be.