#Wowzers, People: That's One Overhyped ICO
Did you hear about Bancor? Did you get a few tokens?
Did you sell those tokens immediately at $20 each before they turned into $4?
Here's a screenshot we pulled a bit ago from Bittrex.
This could be the one that gets the SEC (in the US) off the fence
Froth in the market, plus too much hype, plus - as we say on the Metacoin site today - no lockup...that's a recipe for ICO disaster.
It could finally cause the SEC or some other governing body to try to create rules governing these Initial Coin Offerings - which sound like "IPOs" (Initial Public Offerings) but...aren't.
Is it true that the code for this Bancor is just 40 lines?
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I read that, too. If it's on the Internet...
But I do believe this is not an incredibly well-conceived ICO/business.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Big lost, i think Bancor is a great project and the price will grow up very soon
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I don't know - I think they need to prove the product value, etc. first. It could be a while.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I see the Project Bancor & investors , aloso the idea of smart token is original , so the price will increasing!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
We'll have to see how it all unfolds.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Just another reason to wait until after the ICO to buy. Be careful of that FOMO.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Yeah. I agree 100%.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
If you would have bought after the ico you would have payed 10-40% more then the ico participants
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Credit where due: @poepkak is correct. It appears that the offering price was as low as 0.01 ETH, which is 3 bucks or so.
So this was a case where the original sellers got out quickly at a high price, and the price now - $4.20 or so - is a premium, meaning that folks who bought at the ICO price are now holding something more valuable than they bought it for.
Thanks for jumping in and pointing out the error of my ways.
Dave
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
No problem dave, srry for coming off a bit as an ass!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
It's all good...plus you got me to check my math, update my blog post.
http://metacoin.co/anatomy-overhyped-ico
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Are you guys trolling ore are you for real? BNT is trading above eth ico price...
The 80% drop is because the first buy on bittrex was 8x ico price (just a tiny amount), it dropped 80% from that point and is still trading 20-30% above ico price!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
I'm for real, but will have to do a little more research - you may indeed be correct...
but first I have to eat lunch.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Good post. I was about to post a similair post. I've been asking myself. How many people really do a proper background check before seriously investing in an ICO? Besides coinmarketcap.com there is: https://www.coincheckup.com I'm using this site that gives in depth reports on every tradable cryto in the market. See: https://www.coincheckup.com/coins/Bancor#analysis For the Bancor Investment analysis.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit