/biz/ - Business & Finance

[Anonymous No.50292805]

NO REFUNDS
https://twitter.com/CountCrypto42/status/1546528321206452224?s=20&t=6x9PCPgFBAA770r0LWgelw

[Anonymous No.50292931]

link is a scam anyway so bancor just saved him the wait

[Anonymous No.50292935]

It's sad that people lose money this way. But I can't help but think that if all these twigger morons losing everything is what it takes for Link to finally moon, then so be it. No schadenfreude.

[Anonymous No.50292947]

>>50292805
>retards having to buy half of their stack back
Bullish for LINK

[Anonymous No.50292988]

What's Bancor going to do with all the extra Link?
Did they already market dump it?

[Anonymous No.50293029]

>>50292947
This is literally a link Holocaust bancor was shilled here relentlessly

[Anonymous No.50293045]

>>50292805
>9000 link
So like 20 bucks

[Anonymous No.50293073]

>>50293029
only retards put their money into some bullshit apy and even bigger retards didnt take their shit out when the bull was ending

[Anonymous No.50293667]

>>50292805
(and that's a good thing)

[Anonymous No.50293696]

>>50292805
How did he lose it?

[Anonymous No.50294727]

Fuck Bancucks
Fuck Celcucks
Fuck Nexophiles

[Anonymous No.50294753]

>>50293045
More like 50k

[Anonymous No.50294779]

>>50292805
Oh no, he lent LINK to a platform that bankrolls short sellers and the short sellers caused a situation where the platform's solvency was at risk and he ate a 9000 LINK penalty rather than let it ride and hope for the best. Stupid fucker.

[Anonymous No.50294781]

>>50293696
idk either but google says they 'paused' impermanent loss protection due to 'hostile market conditions'. good thing i never trusted it i guess. they also had 'price protection', that is, a smart contract that bought the bancor tokens at ICO price so in theory it should never have fallen below ICO. then whales abused and massacred it

[Anonymous No.50294802]

Lol please tell me that this is the 42 namefag from a year or two ago…

[Anonymous No.50294805]

>>50292988
it's already gone. bancor services impermanent loss by using user deposits as fractional reserves. fine when there isn't strain in the market, disaster in conditions like we have now.
>>50293696
bank run on bancor because of contagion from terra's collapse bleeding into the balance sheet of celsius, nexo, and I believe 3AC. when these large players pulled their liquidity, they received huge amounts of bancor's bnt tokens that they dumped for the paired token (like link and eth), draining these off the platform. by the time bancor turned off bnt minting, all the reserves had been drained and most users had around 50% of their deposits remaining

[Anonymous No.50294809]

>>50293696
their ILP was very much like terra usd anyways, it literally just printed bancor tokens to make up for the loss liquidity providers suffer. so it did seem like a matter of time to suffer the same fate once tusd went down

[Anonymous No.50294841]

>>50293696
>>50294781
You need to go back.

[Anonymous No.50294871]

>>50292805
>Impermeant Loss
This guy can’t even spell Impermanent Loss and I doubt he understands what it even is.

Impermanent Loss is the most pigheaded problem in all of crypto. You are earning APY but you’re afraid the core value of the asset going down. How about you don’t deposit and just set up a stop loss? It’s not even a real problem

[Anonymous No.50294905]

This aged really well.
Israelites and Hebrews are extremely susceptible to bank runs and infinite token minting. They just love inflation. I wonder why

[Anonymous No.50294914]

>this is the IQ of LINK pajeets
Lmao

[Anonymous No.50294932]

>>50294871
no your retarded. e.g. if he put in his 50/50 link and eth at 0.0033 ETH/LINK (was roughly around the time bancor was being shilled) he probably doesnt expect it to go to 0.0033 ETH again. if it doesn't, his 'impermanent' loss will only ever grow as LINK goes up compared to him just holding his original amounts of LINK and ETH seperately. impermanent losses can very easily become permanent even without ever removing the liquidity.

[Anonymous No.50294954]

>>50294932
>impermanent losses can very easily become permanent even without ever removing the liquidity.
and the scariest thing about them, is that the longer you live in denial and don't take the loss, the more it grows.

[Anonymous No.50295019]

>>50292805
tell that pleb to go back to de_dust 2 noob.
smelly no linker.

[Anonymous No.50295055]

>>50294932
It’s the risk you take for depositing your bag and temporarily losing direct control over it. It’s a fucking retarded non-issue, if you’re afraid then don’t deposit as your cost benefit analysis doesn’t add up. It can be solved by simply not depositing for measly APY

[Anonymous No.50295060]

Wait, you guys throw your LINK into random shit?
I just have mine in a wallet.
Oh well, we can't all make it.

[Anonymous No.50295155]

>>50295055
>>50294871
>It’s not even a real problem
think from a pov of that guy in the tweet though. his cost benefit analysis estimated bancor working out the way it was promised which it didn't, so now his cost benefit analysis is projecting him massive losses. how is it not a real problem for him

[Anonymous No.50295315]

>>50294932
Kek, constant product is the greatest scam ever devised by these fuckers.
Bancor, uni, whatever, its all the same. They are totally opague about the arbitrage that they themselves are doing.
Amms are a fuckjng joke. Someone posted a stat here recently that present day 100% of uniswap lp is in the red badly.
No amount of fees will make up for it, but the protocol is making a fortune on arbitrage, its a literal money printer and everyone, whales to retail is getting fucking rekt.

[Anonymous No.50295347]

>>50294871
>You are earning APY but you’re afraid the core value of the asset going down
Its not just down anon, il happens no matter which way the price goes. Fucnkek.