News for hackers. Stuff that matters.

A comment on Bancor Is Flawed. Parent comment

Re:Bancor Is Flawed by jnordwick on Tuesday June 20, 2017 @03:53AM (#14592833)
So that means you are essentially having to go to the market at least every 2 months and pay the spread and tx costs to roll your position?

And the way they describe how they automatically choose the loan with the lowest rate they could pick one where you need to return BTC in 2 days even. That sounds horrible.

[ Parent | on HN ]
Re:Bancor Is Flawed by joosters on Tuesday June 20, 2017 @04:39AM (#14592980)
Yes, even 'random' spikes and dips in obscure exchanges can force-close positions on some other exchanges.

'We use the average price of 5 difference exchanges to calculate the current BTC price' - then one of those random exchanges goes haywire and BTC trades near 0 on them for a few seconds. Ooops, the average BTC price just dropped 20% so we had to close your position due to lack of margin. Sorry! (This has happened several times in the past few months, for instance...)

[ Parent | on HN ]