/biz/ - Business & Finance

>>49987996
You lose 50%. Best to wait

>>49987996
In any situation a 50% loss is more ideal than a 100% loss. Take your loss and accept that it was fucking stupid to put link on that platform. You are partly responsible for the low price action.

It's a gamble no matter what.
If you think that Bancor can resolve it's insolvency issues before going under then you can risk waiting.
Otherwise you risk losing it all.

>>49988016
Bancor is going bankrupt lol.

>>49988039
The more I read from other Link holders who attempted to withdraw and responses from the Bancor team makes me less confident about the future of Bancor.

>>49987996
you don't "have" any link. you have an IOU from one of bancor's smart contracts. these smart contracts can and will give you zero link if they deem fit.

>>49988059
>we lied to you in order to keep terminology simple and buy us time.
top kek

>>49988110
It's incredible how brazen they are, isn't it?
Makes you wonder what else they've been lying about.

>>49988030
Nobody has ever provided a single piece of evidence that Bancor took money out of liquidity pools to short link. Is it just retards bundling AMMs with cefi lenders or did I miss something?

>>49988059
>we're turning ILP off so if you withdraw just know that you will suffer IL
>"hey why are users losing more money than they should be losing to IL?"
>oh yeah we also shut off a bunch of other stuff too we didn't want to confuse people
>but yeah you're going to lose more money than just IL
lmao and people think bancor will survive this

>Gold could be exchanged for bancors, but bancors could not be exchanged for gold

https://en.wikipedia.org/wiki/Bancor

These faggots haven't had an original idea since ww2

>>49988123
referring to "the masses" is also rich
anyone who gave money to these faggots deserves to lose every penny

>>49987996
Yes no problem frend withdraw away, your 10k link will be with you in full after the cool down. Absolutely nothing to see here, your links are safe and sound and you can sleep well knowing you put them in a safe place

>>49987996
>>49988039
>>49988059
With jews you lose.

>>49987996
Would you rather have 5k link tokens or 0 link tokens?

>>49988136
Theyre all coordinated together. And they are all going bankrupt. Good riddance

>>49988201

No seriously this should be somewhat acknowledged. I'm not trying to be hateful but seriously they are all fucking semetic wtf?

Bancor, Celsius, maybe NEXO they are Bulgarian kek so its possible.

These people are stealing the LINK of literal proclaimed Nazi OG LINK holders. Seriously this is exactly what I'm seeing from the sidelines.

Think about how salty everyone is going to be when Bancor doesn't go bankrupt and you halved your own stack

>>49988227
>>49988079
>>49988039
>>49988030
from what I understand of bancor, when you "single stake" an asset you're really just providing half of an LP pair. so instantly half of your deposit becomes "float", which in aggregate with all the other user deposits is used to fund liabilities (withdrawals), which works fine when the system isn't under stress, not so fine when faced with the current conditions. if I'm not mistaken, you can never be left with zero, you will always be able to withdraw 50% of what you put in. in which case the money is already gone (drained), and pulling out would be pointless unless you really need the liquidity right now

>>49988342
how is that even a surprise for anyone
thats like saying we need to talk about how the sky is blue

>>49988342
I don't know about the backgrounds of Celsius or Nexo but it's common knowledge that the Bancor team are Israeli

>>49988136
Linkies are delusional schizos who can't cope nobody is buying their shitcoin. Nothing more to discuss.

>>49988371

Celsius is as well confirmed. Not just Machinsky either. In fact people from IDF

>>49988363
kek yes but it appears to be effecting LINK holders more than others. Its possible some of that is their own doing but at the same time all of this going on feels incredibly manufactured. There is so much overlap between LINK, NEXO, Bancor, Celsius

>>49988356
i see you are still in the denial stage
or is it bargaining? not sure

>>49988136
Nailed it. Bunch of retards not understanding what they're talking about.

>>49988497
I'm asking for technical reasoning, I have never provided liquidity for bancor because I would rather eat IL than know that 50% of my deposit gets deleted up front

>>49988371
>>49988391
unironically being a racist and an anti-semite has saved me from being scammed in crypto

>>49988667
>>49988667

Yeah after all the Chinese scams I witnessed people get rekt from 2017 cycle I was incredibly skeptical to touch projects with heavy Chinese teams. Its unfortunate. Same with Jews. I just kept everything in cold storage and am patiently waiting for staking. I don't consider myself racist(its what they all say right kek), just high pattern recognition and overly cautious maybe. I wouldn't knowingly use power I control over someone though simply due to race.

>>49988712
>Yeah after all the Chinese scams I witnessed people get rekt from 2017 cycle I was incredibly skeptical to touch projects with heavy Chinese teams

>>49987996
i withdrew my link from v2 and got it all back, but that was 10 days ago. withdraw 20 link and see what happens

>>49988752
right this shit was hilarious

>>49988798
>omisego partnership with apple

god I miss the 2017 run, the scams were a lot funnier

>>49988873
>god I miss the 2017 run, the scams were a lot funnier

Right any fake partnership would pump shit 100% still it was fucking retarded and I miss it every single day. That 6 week period of Dec 2017 to mid Jan 2018 was probably one of the most exciting times in my life.

You'd go to bed and wake up with 50%+ gain every 24 hours for days on end. I couldn't sleep it was unreal. You could buy nearly anything too. Fucking Deep Brain Chain kek

>>49988873
yeah those were better times

>>49988938
yeah, no kyc on binance, 1$ bnb, You could just buy red and sell green on every coin in the list and stack btc. good times.

>>49988873
I wanna go back bros. Crypto isn't fun anymore

>>49988938
>>49988975
>>49989116
not only were the scams funnier, some of them were extremely high IQ as well

>>49988136
No you got it perfectly right. I personally think it’s coordinated fud by cefi kikes but I could be underestimating the retards on /biz/ these days.

>>49989412
I love this one I saw it soon after the thread happened. This might have actually been a /biz greatest moment top 3 honestly. A scam engineered to scam other scammers. The dude feigned ignorance and vulnerability like a fucking champ.

It amazes me how many people still don't understand what's happening here. Say Bancor has 1000 LINK in liabilities from liquidity providers placing their LINK in the protocol. Because of swaps, they only actually have 500 LINK in the protocol as the other was traded away for other tokens. Then you put in your 10 LINK. Your share of the protocol is 10/1000, about 1%, so 5 LINK. You are immediately subject to a 50% haircut because you get a share of the pool and the pool doesn't have assets to match the liabilities. This number is going to continue to get smaller as more people migrate from V2 and withdraw, and as people continue to swap for LINK in the protocol.

>>49987996
You will lose it all and you deserve it after we pleaded with you retards to get them off last year

>>49988030
yeah keep posting bro, you'll convince someone someday maybe

>>49989484
what would you say are the other top /biz/ moments?

March 2020 crash is top 3 for me

>>49989780
yeah I watched LINK hit $.01 in real time during that time

>>49989780

When Sergey Nazarov tapped out "SN" in Morse Code while being asked if he was or knew who Satoshi Nakamoto was during his Lex Friedman interview

It was the most blatant thing possible. There is no question he tapped out those letters at that moment but what it does mean. Is he Satoshi or part of a collective Idk but still surreal.

>>49989928
it was the LINKUSDT order book on binance that got wiped out wasn't it?

it's a hard decision as the 2.1 pool actually has a surplus of link
however the protocol could completely collapse in the meantime, risking all your link
there is also no guarantee that you will ever be able to withdraw from 2.1. they may force everyone to shift to v3
yes, it's a fucked up situation
i choose to go to v3 and just take the loss. as tough as 50% is, it's better than losing 100%
i don't trust the team at this point

>>49990022
Yup. Also no one was able to set stink bids lower than like $0.50 during that time. So the only ones that could scoop up millions of Linkies for pennies on the dollar were Binance insiders. Of course, CZ washed his hands in innocence claiming that those orders were set by unknown users through their API before they imposed the limit. Good times. Binance has always had a weird shady relationship with LINK, starting when they suddenly listed LINK in 2017 even though the team didn't ask nor signed off on it.

>>49990022
Yes it was like nothing I'd ever seen. The liquidity was completely gone for nearly 30 seconds. I watched it just get pulled and dry up completely. I didn't think it was possible. It was a clean sweep of leverage. Needless to say I rode a long from the next day onward for months. What a timeline. This is happening again. A shakeout so substantial I'm pretty sure the major DEFI/CEFI lenders that hold the majority of retail LINK manufactured a bank run/bankruptcy event. Nothing is coincidence

>>49990064
>>49990076
I also remember that the bitmex liquidation engine was close to driving btc to 0, until arthur pulled the plug for "unexpected server maintenance"

you guys think this LINK shakeout could cause btc to dip below 20k again?

>>49989725
You’re coping so hard

>>49987996
What do u mean half ur deposit is gone? U mean our half of the money is gone, did u not read the doc? God u guys are so ungrateful, we gave u good apr and u complained about half of ur deposit is gone

>>49990595
>G-d u guys are so ungrateful
ftfy :3

>>49987996
2 more minutes until post-incident pending transactions can be confirmed
GET HYPED

>>49989972
OK timestamp please

>>49990475
Give a trip so we can laugh in a month's time lad

>>49988016
>Just wait 2 more weeks

>>49989725
He doesn't have to. A lot of big money is already leaving the system and incurring massive losses to do so. What does that tell you? I'd wait awhile if someone could give me one decent piece of hopium for how they can fix the situation. It's not like a hack or other exploit, this is how the protocol was designed to operate.

>>49988136
A person working at bancor literally said it's well known that most cefi services lend out tokens to market makers which then short the token.
Official chainlink youtube had this video up and around the 52min mark he talks about it.
Bancor of course denies doing it.

Source: https://youtu.be/B2mVaPFFdoE?t=3123

>>49991626
If this is true, they deserve everything that's coming to them. I could forgive some incompetence and naivete in building a protocol this way, but taking LP tokens and using them to short is just dishonest.

>>49988153
TOPKEK

>>49988712
Don't forget about all the French scams on Avax

>>49990986
https://youtu.be/HX6gn0GGXBg

>>49988153
>history doesn't repeat, but it does rhyme
>uhhh, except for when it literally does repeat itself

>>49988354
You’re not going to get more than half your stack back.
Keeping your Link locked is just risking the half you can still get in hopes you can get some bnt in the future.

>>49992724
>You’re not going to get more than half your stack back.
you can get more than half right now this moment
current loss is 44.41% (was 46.5% earlier last week)

Bump

>>49987996
V2 is fine, for the moment, I would remove everything.

I can't withdraw my vBNT. It saids "Withdrawal is temporarily paused!" Anyone else having trouble withdrawing?

>>49988354
It's funny you say that because I remember some retarded faggot told me the same thing when I decided to pull out of UST when it was trading at 87 cents

>>49988136
Celsius is shorting Bancor and LINK in order to try to make money to try to recover their loss.
The fud campaign is just part of this.
This will end with their bankruptcy and we will finally be free.

>>49991626
2020 LE SHORT SQUEEZE newfag missed the point
bancor is not a lending protocol, their only major fuckup was too much LM and dropping the 100 day IL insurance timer

>>49987996
at least a week ago I could withdraw the link. I had to open my link position tab and withdraw the link one position at a time. Don't think there's any loss of link in the v2 pool

>>49989780
Lmao I was no joke parked at McDonalds eating a Big Mac and slurping cheap cheap LINK as the Corona CZ scam wick printed. Was pure bedlam. Amazing times bros. We’ve held through a pandemic, bootstrap dilution, and cefi fuckery. We are so close. LFG!

>>49988030
There's no crime in wanting to make more money fren.

>>49988195
Safe place where I dont have control?, fuck that i'll pick a Dex all day everyday where I can access my assets anytime.

>>49988266
But its really sad, building so much trust just to get rekt.

>>49988342
thought we agreed no good will come off a centralized platform, I mean what did you expect. In all honesty it will be the perfect time for Tacen to launch that hybridDEx it might just be a saving grace.

>>49988617
It just crazy how committed pople are to this platforms.

>>49987996
So you've been searching for the Missing Link?>>49994882
Yeah those guys were boasting about buying with both fists at 70 cents because it was going to be the easiest money they ever made.

Voting being held on Bancor to cancel withdrawal fees and disable 7 days cooldown is implemented. it is expected to pass and excuted on the June 29th. Better get out ASAP. I can't even get my vBNT out right now because of "pool volatility"

>>49994882
>I decided to pull out of UST when it was trading at 87 cents

Much different scenario imo. You shouldn't have been in UST to begin with. Imo the risk on Bancor was much less than nearly any other option to get yield on LINK. Luckily I understood my entire stack was worth risking for around 10% a year so I figured Id just wait for the real staking

>>49988989
Those where the days but no shit the no kyc, no sign up and full asset control exchange platform is launching soon only that this time its a combination of both cex and dex features.

>>49995376
it's not a crime; it's just stupid
bancor fags get what they fucking deserve

>>49989656
honestly defi is fucking complicated, just buy and hodl your fucking alts. its that simple.

>>49992020
Dont bring avax into this

Linkies losing rank, Poolies making bank

>>49995518
perfectly said besides why not just hold your alts in a wallet and take profit occasionally or explore trading on decentralized platform.

>>49995597
I've earned 210$ on my 20k$ LPL stack but still based, i guess that's how real yield works

>>49994986
You coudl withdraw straught from v2? Or migrate it to V3 to then withdraw? Mine is in V2 and I'm prob gonna take it out soon

>>49995641
Withdrawing all my assets into my trust wallet, until this dip is over. Too much shit going on.
>>49995508
>combination of both cex and dex features.
That will be a sight to see, sign me up for this.

>>49997977
As of now, you can't withdraw directly from V2, you have to migrate to V3 first, where you then become subject to what >>49989656 said.

>>49998984
Its a crazy fucking bumpy ride. Never again to any centralized platform

>>49994882
Joke's on you, UST is mooning

Chainlinkgod is the frog version of Sergey Ellis Nazarov. Wonder where all these hacks originate from? Wonder why Chainkinkgod is on the team as the official blackhat hatchetman?

Chainlinkgod literally sleeps in a pool of tepid water. Sergey Ellis Nazarov literally dumps LINK to keep that pool of water tepid. Not warm. Not hot. But tepid. And the waterproof keyboard attached to that terminal is capable of reaping havoc on any blockchain it comes into smart contract with. Chainlinkgod is a blockchain killing machine guy and there is nothing that Ari and Sergey can do to stop him

>>49988756
you can't withdraw from v2 at the moment. Only thing you can do now is migrate to v3, wait 7 days and the you can withdrawn with 50%+ IL