Bankera

NorthDublin1

Hello,

I was looking for suggestions on Bankera. It looks legit, has anybody else heard about it?

My uncle sent me this information today. Before we invest, what are you thoughts.

It's a regulated bank on the blockchain, they actually bought a real bank. It's the same team that made the spectrocoin wallet. Once you have the tokens they pay weekly dividends. Advisors include the European Parliament members and director of MEN.

You buy the tokens through the Spectra exchange. I think you have to transfer Bitcoin to Spectra and then exchange the Bitcoin for the tokens.

Referral link for Spectra : https://spectrocoin.com/en/signup.html?referralId=4147650660

https://bankera.com

I was going to put in a couple of hundred, is that too much?

Cheers
John

Dades

I'm confused - is this not just an exchange where you can buy Bitcoin?

What tokens are you talking about and what are you investing in?

NorthDublin1

Hello, apologies, I should have been more clear.

When we were looking at the Bankera ICO, the website referred us to the Spectra Exchange to purchase the Bankera ICO tokens BNK.

The Spectra Exchange has a number of coins on it including Bitcoin, Ethereum, NEM, BNK etc

What are you thoughts on Bankera ICO?

Dades

Sorry - I missed that.

The only thing I'll say (as I'm leaving work!) is that how much you put in any ICO/stock/coin/classic car is completely your call! Best to assume you'll not get it back.

makeorbrake

So what advantage do Bankera bring to the table? They say that they will be able to offer more competitive loans - to business customers - but I'm not seeing what their USP is? I assume from the management team that they're Lithuania based (although I don't see that stated as such...no doubt its there somewhere). Are they marketing this 'bank' in Lithuania or where and to whom?

garrettod

Hi,

From what I've read, Bankera plan to obtain a Banking licence (licences possibly for different jurisdictions) for commercial banking activities. I think they have a small private bank, but that's a different type of animal and I suspect, has different regulatory approval requirements to a commercial banking licence. In essence, the gameplan is to offer a bank that works in both FIAT and crypto currencies, if I've got it right.

It's a great idea, but will the existing regulators give a licence to an entity dealing in cryptos ?

I've not seen any cashflow forecasts as yet, but can't help feeling this is going to burn a lot of cash before it gets anywhere near critical mass. There's a lot of people shown on the management / advisory team that are going to want a regular paycheck etc.

I think that there are incentives such as "dividends" for those who participate in the ICO, to be paid over time. There's also mention of giving investors additional coins if they don't sell out under the ICO (which can be seen as both as positive and negative, obviously the negative being that it brings a bigger risk as they don't get all the cash they wanted to raise).

I've put a few quid into it, but it's a massive punt just like all other ICOs.

A Spectra account is required to buy into the ICO. You can transfer in bitcoin, ether and I think from memory, one or two other coins also.

I must admit, I wasn't terribly impressed with Spectracoin as an exchange and comments on the Google Playstore regarding their App left me a bit concerned, so I've not installed it to date (which is frustrating as Apps are handy for monitoring etc.)

Nothing personal NorthDublin1, but I didn't use your referral as to be honest, I didn't think you'd really done any reading or research on this ICO, and were just getting your referral link in asap.

makeorbrake

Thanks for the comprehensive response, garrettod.
I guess I'm still struggling to see a major advantage though. Does it really advantage a customer if they facilitate crypto and FIAT under the same roof?

garrettod

makeorbrake wrote: »

Thanks for the comprehensive response, garrettod.

I guess I'm still struggling to see a major advantage though.

Does it really advantage a customer if they facilitate crypto and FIAT under the same roof?

Hi,

I would not say that was anywhere near "comprehensive", but thanks for the kind words nonetheless. There's a lot of reading in the White Paper, their website etc. so I've just touched on a few of the points.

Personally, I think the answer to your question is yes - to be able to have one account, where you can have your Euro salary paid in via the IBAN, instantly transfer out some of the funds in (say) Ether to pay someone over the other side of the world and have them receive it immediately at a very low cost, be able to next convert some Bitcoin that you've received into GBP£ and use it to buy something in the UK, to have a debit card that can draw on your crypto balances rather than just your Euro balance etc. appeals to me. That's before you go anywhere near their plans for ETFs, Business Loans etc.

While the combination of services can probably be obtained through a few entities, rather under one roof, the convenience, the speed, the potential low combined costs for the consumer, are all positive in my mind.

I also think that it helps significantly with bringing wide scale acceptance and familiarity to the cryptos, as methods of payment for the "ordinary person".

The size of the ICO is a big ask of the market (although they have already raised a lot of money- see here), and I expect that the business will have a massive cash burn as it tries to scale up, get through regulatory approvals (possibly their biggest obstacle in many western parts of the world) etc.

Ultimately, if your not in, you can't win

... but do go putting in anymore than you can afford to lose.

.

Speculator

I've been researching hundreds of ICO's over the past few months, this appears to be one of the most promising so far.

Great team with a very active community. (Some high profile individuals on board.)

Before investing in ICO's, I would suggest you take a look at this article.

ICO Basics, To Invest or Not? Cutting Through The Bulls***
https://blockgeeks.com/guides/ico-basics/



As always do your own research and only invest what you can afford to lose.

CryptoMad

My first ICO of 2018, really exciting about this project.

I’m assuming it will be a European Crypto Bank based on the Whitepaper and Members of the European Parliament acting as advisors.

Inquitus

The ICO is not directly linked to the companies equity? How is value placed on the crypto they sell if you have no ownership stake in the firm? This is the gap I have on ICO's, if someone could plug it for me, that would be great.

CryptoMad

Inquitus wrote: »

The ICO is not directly linked to the companies equity? How is value placed on the crypto they sell if you have no ownership stake in the firm? This is the gap I have on ICO's, if someone could plug it for me, that would be great.

This is CryptoCurrency not Stocks and Shares.

Cryptocurrency is a virtual currency, some of these include Bitcoin, Litecoin etc these are not the same as shares i.e. CokeCola and Unilever.

I get frustrated when people ask this type of question as it shows a lack of understanding and a lack of research.

CryptoMad

garrettod wrote: »

Hi,

From what I've read, Bankera plan to obtain a Banking licence (licences possibly for different jurisdictions) for commercial banking activities. I think they have a small private bank, but that's a different type of animal and I suspect, has different regulatory approval requirements to a commercial banking licence. In essence, the gameplan is to offer a bank that works in both FIAT and crypto currencies, if I've got it right.

It's a great idea, but will the existing regulators give a licence to an entity dealing in cryptos ?

I've not seen any cashflow forecasts as yet, but can't help feeling this is going to burn a lot of cash before it gets anywhere near critical mass. There's a lot of people shown on the management / advisory team that are going to want a regular paycheck etc.

I think that there are incentives such as "dividends" for those who participate in the ICO, to be paid over time. There's also mention of giving investors additional coins if they don't sell out under the ICO (which can be seen as both as positive and negative, obviously the negative being that it brings a bigger risk as they don't get all the cash they wanted to raise).

I've put a few quid into it, but it's a massive punt just like all other ICOs.

A Spectra account is required to buy into the ICO. You can transfer in bitcoin, ether and I think from memory, one or two other coins also.

I must admit, I wasn't terribly impressed with Spectracoin as an exchange and comments on the Google Playstore regarding their App left me a bit concerned, so I've not installed it to date (which is frustrating as Apps are handy for monitoring etc.)

Nothing personal NorthDublin1, but I didn't use your referral as to be honest, I didn't think you'd really done any reading or research on this ICO, and were just getting your referral link in asap.

This post is like the blind leading the blind.

Here we go again talking about cash flow forecast and projections. This is Cryptocurrency not shares, they are very very different.

Why are the advisors going to want a regular pay cheque? This is not a retail bank. If you read the white paper it specifically states that tokens have already been allocated to advisors.

There seems to be a lot of confusion between Crypto and Company Shares.

I’ve been involved in Crypto for over 2 years, I’ve also invested in some of the best performing ICO’s such as NEO aka Antshares, Cardano and Icon.

I like Bankera and have invested in it, however if you do not know how crypto’s operate stay away. Start off with Bitcoin and Ethereum etc.

Inquitus

CryptoMad wrote: »

This is CryptoCurrency not Stocks and Shares.

Cryptocurrency is a virtual currency, some of these include Bitcoin, Litecoin etc these are not the same as shares i.e. CokeCola and Unilever.

I get frustrated when people ask this type of question as it shows a lack of understanding and a lack of research.

Yep and the crypto only has value through a value being placed on it by the users, company or the service being offered using it. How does this ICO Coin propose to generate value for itself in the future. Simple question, if you can't answer it you shouldn't be investing in it.

CryptoMad

Inquitus wrote: »

Yep and the crypto only has value through a value being placed on it by the users, company or the service being offered using it. How does this ICO Coin propose to generate value for itself in the future. Simple question, if you can't answer it you shouldn't be investing in it.

Thank you for your reply, I suggest you take a look at the website. You need to do your own research.

garrettod

CryptoMad wrote: »

This post is like the blind leading the blind.

Then thank the Lord that you've now arrived to show us all the light :rolleyes:

CryptoMad wrote: »

Here we go again talking about cash flow forecast and projections. This is Cryptocurrency not shares, they are very very different.

What's the same is simple, if these entities don't generate revenue and profits, they collapse !

CryptoMad wrote: »

Why are the advisors going to want a regular pay cheque?

Eh, because they've got bills to pay - to eat, to keep warm, to keep a roof over their head, need I continue ?

Would you like to confirm (and evidence) that all have waived their need for a regular pay cheque on this project, if you think I'm wrong ?

CryptoMad wrote: »

This is not a retail bank.

I never said it was, but part of the strategy does involve retail banking (i.e. providing basic every day banking services to retail customers, otherwise known as consumers)

CryptoMad wrote: »

If you read the white paper it specifically states that tokens have already been allocated to advisors.

What's your point ?

That they've been incentivised to join the project and see it succeed ?

Are you suggesting that they should be happy because they've been assigned tokens and therefore thyey do not need any regular salaries ? If so, I again refer back to their need to pay their regular bills to live and would like you to show me evidence that they've waived all requirements for regular salaries from Bankara.

CryptoMad wrote: »

There seems to be a lot of confusion between Crypto and Company Shares.

Yes, there is some, but there is also some very similar questions that need asking - such as what's the business plan, where do revenues come from, how does the project break even / make a profit, what happens to those earnings etc. etc. All sound questions, regardless of whether it's a crypto project or a project to make toilet paper.

You might like to focus on the potential for short (or medium / long term) growth in the capital value of the currency, but the reality is that in order for the value to grow, it needs to attract and retain high levels of demand and that comes from belief in the future success of the project, which requires ongoing development, service and support, promotion etc. and that all comes at a cost, so there's gotta be revenues and earnings to pay for it all !

CryptoMad wrote: »

I’ve been involved in Crypto for over 2 years, I’ve also invested in some of the best performing ICO’s such as NEO aka Antshares, Cardano and Icon.

There are lots of people who have been at this for a while, enjoyed some good levels of success with other ICOs etc. I'd respectfully suggest that 2 years isn't that long a period of time. Out of interest, are you trying to imply that you've a 100% success record with your crypto related dealings to date, or just that you got lucky on a few ICOs like many others who took a punt ?

CryptoMad wrote: »

I like Bankera and have invested in it, however if you do not know how crypto’s operate stay away.

That's perfect !

CryptoMad wrote: »

...Start off with Bitcoin and Ethereum etc.

... although I'm not quite sure how you got from telling people who don't know how cryptos operate to stay away in one sentence, to starting off with Bitcoin and Ether in the next.

The bottom line here is very simple... anything that's crypto related comes with massive risk, so if someone isn't up for taking that level of risk then crypto related investing ain't for them, as there's a real chance you can lose everything that you invest.

CryptoMad

garrettod wrote: »

Then thank the Lord that you've now arrived to show us all the light :rolleyes:



What's the same is simple, if these entities don't generate revenue and profits, they collapse !



Eh, because they've got bills to pay - to eat, to keep warm, to keep a roof over their head, need I continue ?

Would you like to confirm (and evidence) that all have waived their need for a regular pay cheque on this project, if you think I'm wrong ?



I never said it was, but part of the strategy does involve retail banking (i.e. providing basic every day banking services to retail customers, otherwise known as consumers)



What's your point ?

That they've been incentivised to join the project and see it succeed ?

Are you suggesting that they should be happy because they've been assigned tokens and therefore thyey do not need any regular salaries ? If so, I again refer back to their need to pay their regular bills to live and would like you to show me evidence that they've waived all requirements for regular salaries from Bankara.



Yes, there is some, but there is also some very similar questions that need asking - such as what's the business plan, where do revenues come from, how does the project break even / make a profit, what happens to those earnings etc. etc. All sound questions, regardless of whether it's a crypto project or a project to make toilet paper.

You might like to focus on the potential for short (or medium / long term) growth in the capital value of the currency, but the reality is that in order for the value to grow, it needs to attract and retain high levels of demand and that comes from belief in the future success of the project, which requires ongoing development, service and support, promotion etc. and that all comes at a cost, so there's gotta be revenues and earnings to pay for it all !



There are lots of people who have been at this for a while, enjoyed some good levels of success with other ICOs etc. I'd respectfully suggest that 2 years isn't that long a period of time. Out of interest, are you trying to imply that you've a 100% success record with your crypto related dealings to date, or just that you got lucky on a few ICOs like many others who took a punt ?



That's perfect !



... although I'm not quite sure how you got from telling people who don't know how cryptos operate to stay away in one sentence, to starting off with Bitcoin and Ether in the next.

The bottom line here is very simple... anything that's crypto related comes with massive risk, so if someone isn't up for taking that level of risk then crypto related investing ain't for them, as there's a real chance you can lose everything that you invest.

The more I read the more concerned I am at the lack of understanding. Rather than covering all your comments we need to revert back to basics.

“If entities don’t generate revenue and profits, they collapse.”

No not correct, companies generate revenue and profits, however we are talking about crypto coins and tokens here.

For example Bitcoin does not generate revenue or profits it’s a decentralized peer to peer virtual currency.

Inquitus

Currently Bankera pay out 20% of their transaction fees to Token Holders on a pro-rata basis. The latest weekly reported payout was 37,471.46 EUR. I guess the value proposition here is it really takes off, and the transaction fees take off along with it, providing you a nice weekly staple for your investment as well as boosting the value of the tokens in line with expected payouts and associated value.

37k euro is very little currently when compared with the €100m they hope to raise, so it is certainly a punt on their likely long term success and viability. Given the Tokens are not backed by the money raised and only the promise of future fee payouts, it seems that they are overvalued by any metric one might measure with, at this point in time.

garrettod

CryptoMad wrote: »

The more I read the more concerned I am at the lack of understanding. Rather than covering all your comments we need to revert back to basics.

“If entities don’t generate revenue and profits, they collapse.”

No not correct, companies generate revenue and profits, however we are talking about crypto coins and tokens here.

For example Bitcoin does not generate revenue or profits it’s a decentralized peer to peer virtual currency.

We are talking about crypto coins and tokens here. Fine, once they are issued, how do they get supported in terms of tech issues, development of related services etc. ?

Funds raised don't last for ever and particularly if there's a significant cash burn, which there tends to be with just about all of these projects in the early stages. So, to be sustained, they need profits.

With best intentions all round, peer to peer stuff only lasts so long before people get tired of doing the work for nothing, or become more interested in a new project etc.

You give Bitcoin as an example of a virtual currency, but in truth it's not being used as a currency (i.e. a system of payment). Bitcoin is simply being used as something to place a bet on, just like we might bet on a coin flip. If Bitcoin is to succeed as a popular method of payment, it needs people working to bring it into mainstream commerce and that requires significant resources, which need to be funded.

CryptoMad

garrettod wrote: »

We are talking about crypto coins and tokens here. Fine, once they are issued, how do they get supported in terms of tech issues, development of related services etc. ?

Funds raised don't last for ever and particularly if there's a significant cash burn, which there tends to be with just about all of these projects in the early stages. So, to be sustained, they need profits.

With best intentions all round, peer to peer stuff only lasts so long before people get tired of doing the work for nothing, or become more interested in a new project etc.

You give Bitcoin as an example of a virtual currency, but in truth it's not being used as a currency (i.e. a system of payment). Bitcoin is simply being used as something to place a bet on, just like we might bet on a coin flip. If Bitcoin is to succeed as a popular method of payment, it needs people working to bring it into mainstream commerce and that requires significant resources, which need to be funded.

Ok so Bitcoin is not a cryptocurrency?

I suppose Litecoin is not a cryptocurrency?

Do a google search on Blockchain,distributed ledger and how it works.

CryptoMad

Inquitus wrote: »

Currently Bankera pay out 20% of their transaction fees to Token Holders on a pro-rata basis. The latest weekly reported payout was 37,471.46 EUR. I guess the value proposition here is it really takes off, and the transaction fees take off along with it, providing you a nice weekly staple for your investment as well as boosting the value of the tokens in line with expected payouts and associated value.

37k euro is very little currently when compared with the €100m they hope to raise, so it is certainly a punt on their likely long term success and viability. Given the Tokens are not backed by the money raised and only the promise of future fee payouts, it seems that they are overvalued by any metric one might measure with, at this point in time.

Good point, interesting perspective to use in order to work out the current value. (based on the current dividend rate.)

Using the same formula 100% of stocks and shares are overvalued never mind crypto

Inquitus

CryptoMad wrote: »

Good point, interesting perspective to use in order to work out the current value. (based on the current dividend rate.)

Using the same formula 100% of stocks and shares are overvalued never mind crypto

Shares give you ownership of the company along with the dividends, all this gives you is the dividend, so in the case of this Token its the only measure of its current or future value. Nice try at obfuscation though.....

CryptoMad

Inquitus wrote: »

Shares give you ownership of the company along with the dividends, all this gives you is the dividend, so in the case of this Token its the only measure of its current or future value. Nice try at obfuscation though.....

Obfuscation not really, once you understand blockchain it will all become clear.

Inquitus

CryptoMad wrote: »

Obfuscation not really, once you understand blockchain it will all become clear.

I fully understand the blockchain, I mined bitcoins back when you could mine them at home on a GPU in 2010/11.

While the technology is exciting and has a myriad of potential profitable business uses, in this case you are taking a massive punt on Bankera being a breakout and ramping up their transaction volumes to a point where it supports the current Token valuation, something that is far from guaranteed, and represents very poor investment value.

CryptoMad

Inquitus wrote: »

I fully understand the blockchain, I mined bitcoins back when you could mine them at home on a GPU in 2010/11.

While the technology is exciting and has a myriad of potential profitable business uses, in this case you are taking a massive punt on Bankera being a breakout and ramping up their transaction volumes to a point where it supports the current Token valuation, something that is far from guaranteed, and represents very poor investment value.

Perhaps or perhaps not, I respect your opinion though.

Watch this space

Inquitus

The Lithuanian Central bank has announced it is probing the Bankera ICO.

https://www.coindesk.com/lithuanias-central-bank-probes-100-million-euro-ico/

Bank Official wrote:

"In addition, [the ICO] distributes its authorized [cryptocurrency] and has already attracted more than 80 million [euros]. Taking into account the features set out in the heading and based on the information provided by Bankera's business plan, it is concluded that this ICO falls within the scope of the Law on Securities, i.e. is considered a public offer, and therefore must be executed in accordance with the established requirements."

CryptoMad

Inquitus wrote: »

The Lithuanian Central bank has announced it is probing the Bankera ICO.

https://www.coindesk.com/lithuanias-central-bank-probes-100-million-euro-ico/

Most ICO’s will fall under this catergory going forward. Regulation is good for the industry.

Inquitus

CryptoMad wrote: »

Most ICO’s will fall under this catergory going forward. Regulation is good for the industry.

Thing is they won't have met the standards required for a public offering, so the issue is what will the punishment be, and will it impact the value of their product, and by extension their ICO and its tokens.

Inquitus

Researching further, Bankera are registered in the British Virgin Islands, much like Tether, Bitfinex and others, so do not come under the jurisdiction of the Lithuanian Central bank, or any EU Central bank, as such I can't see this probe having any real impact, to be honest. We will see.

makeorbrake

Inquitus wrote: »

Researching further, Bankera are registered in the British Virgin Islands, much like Tether, Bitfinex and others, so do not come under the jurisdiction of the Lithuanian Central bank, or any EU Central bank, as such I can't see this probe having any real impact, to be honest. We will see.

I can't figure out how they operate as a 'bank' whilst being registered in BVI. Surely, they will have to also register within the jurisdiction that they are going to trade in for banking purposes...OR...at least within the EU?

Won't this be different to a crypto exchange as they're offering regular banking services alongside crypto related services?

CryptoMad

Inquitus wrote: »

Researching further, Bankera are registered in the British Virgin Islands, much like Tether, Bitfinex and others, so do not come under the jurisdiction of the Lithuanian Central bank, or any EU Central bank, as such I can't see this probe having any real impact, to be honest. We will see.

No comment.

CryptoMad

makeorbrake wrote: »

I can't figure out how they operate as a 'bank' whilst being registered in BVI. Surely, they will have to also register within the jurisdiction that they are going to trade in for banking purposes...OR...at least within the EU?

Won't this be different to a crypto exchange as they're offering regular banking services alongside crypto related services?

1. They bought a private bank.

2. Yes it will be different to crypto exchanges. Check out the website and road map.

makeorbrake

CryptoMad wrote: »

1. They bought a private bank.

Ok, and where is that Bank regulated? In what jurisdiction?

CryptoMad wrote: »

2. Yes it will be different to crypto exchanges. Check out the website and road map.

That's what I thought...which means there will be major regulatory hurdles to overcome.

Inquitus

CryptoMad wrote: »

1. They bought a private bank.

2. Yes it will be different to crypto exchanges. Check out the website and road map.

makeorbrake wrote: »

Ok, and where is that Bank regulated? In what jurisdiction?


That's what I thought...which means there will be major regulatory hurdles to overcome.

The bank is based in Vanuatu, and is a private bank, only licensed in that Pacific nation currently.

makeorbrake

Inquitus wrote: »

The bank is based in Vanuatu, and is a private bank, only licensed in that Pacific nation currently.

So therein lies their biggest hurdle. Regulation.

garrettod

makeorbrake wrote: »

So therein lies their biggest hurdle. Regulation.

Will you please stop trying to talk sense here ?

...It's plain to see that we've been graced with the (very) recent arrival of some expert in all things crypto, called "CryptoMad".

CryptoMad

garrettod wrote: »

Will you please stop trying to talk sense here ?

...It's plain to see that we've been graced with the (very) recent arrival of some expert in all things crypto, called "CryptoMad".

Let’s talk about Bitcoin and Litecoin’s cash flow projections d:

garrettod

CryptoMad wrote: »

Let’s talk about Bitcoin and Litecoin’s cash flow projections d:

:rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes: :rolleyes:

garrettod

Hi,

Bankera have today announced that BNK tokens will be traded on HitBTC Exchange.

Hopefully more exchanges to follow.

Inquitus

garrettod wrote: »

Hi,

Bankera have today announced that BNK tokens will be traded on HitBTC Exchange.

Hopefully more exchanges to follow.

I like their idea of a bank which can seamlessly integrate between FIAT and Crypto's, I am just worried they won't be able to do it in a useful regulatory environment. In order for it to be a fully usable product in the EU, it would need an EU banking license, so you could avail of SEPA, fast transaction times, low fees etc. A Bank based out of Vanuatu just doesn't offer convenience of use like that with large fees and long transfer times.

The short term win on these Tokens is how much will their exchange make in Transaction Fees when it is launched, if it really takes off then the 20% of those fees they pay in dividends will be the main form of ROI investors will be getting.

Not sure of what they offer that other exchanges don't though, I'd always plump for one set up in a decent regulatory environment where I perceive my money to be safer, like Kraken, Bittrex or Coinbase, than one registered in the British Virgin Islands like Bitfinex or Bankera.

Do you think their exchange will take off and start generating significant Fee volumes? I don't see how their pure banking play will succeed based out of the Pacific to be honest, as mentioned above ideally for us we'd want it licensed in the EU.

Tinder Surprise

Currently being investigated by Lithuania Central Bank...

https://www.ccn.com/lithuanias-central-bank-investigates-100-million-euro-bankera-ico/

CryptoMad

https://blog.bankera.com/

Inquitus

At current dividend rates it would take 72 years for the amount paid in weekly dividends to catch up with the amount invested. Thats based on €150m invested and €40k paid each week.

makeorbrake

Would this be a threat to Bankera?


https://news.bitcoin.com/dutch-bank-that-once-called-bitcoin-high-risk-considers-building-crypto-wallet/

CryptoMad

makeorbrake wrote: »

Would this be a threat to Bankera?


https://news.bitcoin.com/dutch-bank-that-once-called-bitcoin-high-risk-considers-building-crypto-wallet/

Yes I think you are in trouble pal. The sky is falling.

But seriously, no you are fine.

A lot of very nervous investors here.

makeorbrake

I'm not an investor - just an interested observer.

Surely it's significant though if Rabobank follow through...

garrettod

There will always be competition in the banking industry ....

I actually think it would be a positive if Rabo followed through and a couple of other big fish too - one of them might even end up buying Bankera, while the more of them that go that route, the more "normal" it will seem and faster that the population will embrace the services etc.

MurDawg

Bankera (BNK) will be listed on the HitBTC exchange Monday 4th of June. Some interesting updates over the past few weeks/months. They have delivered on their original promise to have this on an exchange by Q2.

Price will be interesting to see.

garrettod

Well, today's the day folks ....

It goes live on HitBTC in a few hours time, so will you be buyin' or sellin' (or even just hodln' ) ?

I'm expecting an early sell off, so the bargain hunters may do well if the project is to be believed in. Short to medium term, I think their goals are achievable, but long term it's a far bigger risk obviously.

I've not been impressed with Bankera's communications with the public until recent times, but looks like they've put the foot on the gas the last few weeks over on reddit. Obviously, regular information updates are important for investors etc.

garrettod

garrettod wrote: »

...I'm expecting an early sell off, so the bargain hunters may do well if the project is to be believed in. Short to medium term, I think their goals are achievable, but long term it's a far bigger risk obviously.
...

Well, looks like I got that bit right anyway.

Not a good first day for those hoping to take profits, assuming they bought in during the ICO, in the 0.02 price range. That said, a very good day for anyone wanting to buy into Bankera, with prices dropping to circa 0.01 for part of the evening.

Word of warning for anyone considering using HitBTC - watch out for their charges, and particularly if you are planning on transferring out your BNK.

makeorbrake

garrettod wrote: »

Word of warning for anyone considering using HitBTC - watch out for their charges, and particularly if you are planning on transferring out your BNK.

Some take all the risk whilst others sell the picks and shovels :-)