Re: [ANN] LakeBanker | Free Banking for the World

Quote from: LakeBTC on August 01, 2017, 11:11:50 AM

Our token (BAC) will be well-intergrated in our business model and has significant, long-term utility in driving transactions in our system. BAC in the LakeBanker system is comparable to XRP in Ripple (see https://ripple.com/xrp/) and ETH in Ethereum (https://www.ethereum.org/ether). BAC is the fuel of the system. All fees and interest in the system will be denominated in BAC. BAC will be based on the Ethereum blockchain and is ERC20-compliant.

Every single cryptocurrency has its own limitations---these include price volatility, unpredictability and technical shortcomings. By having our own token, we manage the token supply and are less vulnerable to issues outside our control.

When the LakeBanker system is mature, BAC will circulate amongst millions and eventually billions of users. The demand will be very strong. The price of BAC is in the future is likely to reflect this.

Quote from: Pkuwag on August 01, 2017, 07:10:06 AM

ok, received your message. and there is another question, what the role does the tokens play in the whole project? does it really have the necessary of exist, rather than a new altcoin?

thanks for the reply, and just checked the white paper, I am confused about "There is a 5-year vesting schedule for the team tokens, where
only 20% is available for trading each year." and however it was said "BAC will be tradable on LakeBTC.comsoon after Phase 2. of the Token Sale and before November 1st 2017."

did it mean if I buy 100 tokens then I can only trade 20 tokens per year, and it need 5 years to get my investment back??