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Bankera

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Comments

  • Registered Users Posts: 29 CryptoMad


    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.


  • Registered Users Posts: 4,657 ✭✭✭ 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.


  • Registered Users Posts: 13,671 ✭✭✭✭ 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.
    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.


  • Registered Users Posts: 4,657 ✭✭✭ 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.


  • Registered Users Posts: 2,279 ✭✭✭ garrettod


    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". ;):D

    Thanks,

    G.



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  • Registered Users Posts: 29 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". ;):D

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


  • Registered Users Posts: 2,279 ✭✭✭ garrettod


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


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

    Thanks,

    G.



  • Registered Users Posts: 2,279 ✭✭✭ garrettod


    Hi,

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

    Hopefully more exchanges to follow.

    Thanks,

    G.



  • Registered Users Posts: 13,671 ✭✭✭✭ 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.


  • Registered Users Posts: 1,458 ✭✭✭ Tinder Surprise


    Currently being investigated by Lithuania Central Bank...

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


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  • Registered Users Posts: 29 CryptoMad




  • Registered Users Posts: 13,671 ✭✭✭✭ 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.


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake




  • Registered Users Posts: 29 CryptoMad



    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.


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


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

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


  • Registered Users Posts: 2,279 ✭✭✭ 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.

    Thanks,

    G.



  • Registered Users Posts: 480 ✭✭ 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.


  • Registered Users Posts: 2,279 ✭✭✭ 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' :D) ?

    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.

    Thanks,

    G.



  • Registered Users Posts: 2,279 ✭✭✭ 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.

    Thanks,

    G.



  • Registered Users Posts: 4,657 ✭✭✭ 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 :-)


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  • Registered Users Posts: 2,279 ✭✭✭ garrettod


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

    Selling them is fine, but selling them at inflated prices when there's no alternative isn't just. :)

    Thanks,

    G.



  • Registered Users Posts: 480 ✭✭ MurDawg


    You could essentially pick up BNK at 1 cent at one point, judging by the teams performance over the past month thats a steal.

    Fully expect them to keep the promise and have their exchange running this month.


  • Registered Users Posts: 2,279 ✭✭✭ garrettod


    MurDawg wrote: »
    ....You could essentially pick up BNK at 1 cent at one point, judging by the teams performance over the past month thats a steal.

    Hi,

    It looks a steal alright, but lets face facts here - they've tried to "love bomb" people over the last month, but prior to that they were very poor on communications, marketing and promotion, while their customer service was also questioned by some.

    I think they've rattled peoples confidence a bit as a result. The tech may have been going well, but the "investor relations" and customer service hasn't.
    MurDawg wrote: »
    ....Fully expect them to keep the promise and have their exchange running this month.

    Please see this Blog update, dated 1st June 2018, by Bankera

    From the 1. June Update:

    "Bankera’s exchange will be a gateway for liquidity and fair cryptocurrency prices for other products such as wallets, loan services and investment products. As in cryptocurrency businesses security and stability come first, we have to be extremely confident about it before going live, which is why the platform development is taking longer than expected. We plan to have it live in several months. "

    That could end up being the start of Q2, 2019 ... not Q2, 2018 as promised, tbf.

    They've avoided answering the question directly, in another thread on Reddit when they were asked.

    There was recent mention of hiring in staff, on one of the Bankera blog updates - the next new recruits need to be good PR & Marketing people, along with good customer service.

    .

    Thanks,

    G.



  • Registered Users Posts: 13,671 ✭✭✭✭ Inquitus


    BNK down to 0.00604 representing a nice 70% loss based on the avg ICO value of 0.0207, as I previously stated it was an awful value proposition given the information available at the time of the ICO, and that it would absolutely tank when traded, as it has done, but of course if you Hodl it's going to the moon :rolleyes:

    That's not to say it is a terribly bad idea it was just a vastly overpriced offering that shouldn't have been touched with a bargepole.


  • Registered Users Posts: 13,671 ✭✭✭✭ Inquitus


    0.0028 now, staggering loss since trading went live, 80% odd. A lot of people got burnt I'd say.


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


    Inquitus wrote: »
    0.0028 now, staggering loss since trading went live, 80% odd. A lot of people got burnt I'd say.

    It's a crypto minefield out there. Watch your step!


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


    It looks like Bitwala are making progress on a similar project to what Bankera were driving towards.


  • Registered Users Posts: 13,671 ✭✭✭✭ Inquitus


    Well a year on and the current USD value of one BNK is $0.001715 so anyone investing lost their shirt of this one, well bout 90% of their shirt based on the average ICO price. The weekly transactional payout has tanked as well as having been diluted drastically by coins issued to partners for commissions, advertising and other services:

    August 9th Payout
    "Last week, SpectroCoin, Bankera Exchange, and Bankera Loans generated a net transactional revenue of 17,149.36 EUR. 20% of that was distributed among BNK holders. This totalled to 3429.87 EUR or 16.858553196635 ETH (given the current exchange rate of 203.45 euros for 1 ether). The total number of tokens outstanding includes 10,000,000,000 BNKs of the pre-ICO and ICO, and 924,176,189 BNK tokens that were distributed by the end of last week as referral commission bonuses, bounties (for translations, promotion, etc.) and as compensation for some of the advisors. The 924,176,189 BNK tokens were issued from the tokens allocated for management and advisors. There were 10,924,176,189 BNKs issued in total. Since the net transactional revenue share is only allocated to issued tokens (not the total possible supply in the long-run), each BNK holder has been allocated 0.0000000015432333665225 ETH (0.000000313970828418996 EUR) per Banker."

    Clearly this was a PoS investment from day 1, hope anyone who invested eventually see's something of their money back!


  • Registered Users Posts: 4,657 ✭✭✭ makeorbrake


    Inquitus wrote: »
    Clearly this was a PoS investment from day 1, hope anyone who invested eventually see's something of their money back!
    This is crypto risk management -> https://twitter.com/Panama_TJ/status/1163586332503040000?s=20


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