Topic: [ANN] Banx - Liquidity Paid Back In From Profits - page 38. (Read 113068 times)

Hi Everyone,

Just to confirm the profit payout was as follows:

Profit Payout Per Share: 0.00009116 BTC / 0.0311 cents per share profit

Best regards

Mark

payout received just like everyone else, used the payout to buy into more shares

Hey guys if you have the time could you please pop over to http://www.banxforum.com/index.php?topic=21.msg62;topicseen#new and post your payout info there aswell, looking forward to hearing from you all 

Dividends recieved

haha... back in the day i'll bet i ran across many of those sites, with all those pop-ups!

i love your affiliate savvy. you know how to get things spread out there big time.

Top notch, bought shares got payout. Can't say fairer than that, will reinvest and looking forward to next months payout.

Dividends for the early October payouts received.  Very happy.

You NEED to prove everything lol   

i worked it as around 0.00008750 btc per share. I dont need to prove anything lol

how much did u recieve per share? proof? 

Recieved my dividend payments today. Very immpressed with the payouts for such an early stage in the business. Ill be compounding this payment straight back in as im very confident that banx is going places.
Thanks banx team for your hard work getting these EARLY payments done. Its a breath of fresh air this project to the crypto community.
 

re the $290, no no other reason than my own feeling.

Im personally confident we will see a $1,000 steady bitcoin in the coming months.

re mining, its a changeable thing, our entire business model is and going into 2015 everything is designed to be fluid.

Re our current mining, we run of wind power so our overheads are very low, we are about to scale up our mining in a new location too

Hi, is there a reason for seeing $290 as the low?

I'm no bitcoin expert but I have downloaded the bitcoin price history and it seemed to fly through $290 on the way up and hasn't touched it yet on the way down. Because bitcoin had such a rapid up and down the chart doesn't show any obvious support or resistance points.

Let's say bitcoin ends the year at $200, for example's sake. Will this change your plans for 2015? Surely there's going to be a point where you have to say "we're going to have to rethink this".

If you're only managing to mine 4 bitcoins in a month then unless your electricity, rent and equipment costs are less than about $1300 a month you're losing money.

In your book you said that you should've walked away from the adult business earlier and you lost more money than you needed to. If I was trading bitcoin I would be short now and probably would've opened my short position back in April. There doesn't seem to be much to be bullish about and I have to wonder where the demand is at the moment.

I don't think this is going to happen, i personally see BTC at a low $290 natural level. but yeah we continue to be small enough to adapt to moving circumstances.

I will get Mark to come in here and confirm my answer to question 4 as well. He is currently on the phone to our developers so don't want to disturb him. In reality banxmining is only one part of the business and if it ends up being completely unprofitable we will just drop it and focus on the other areas of the business. That is the great thing about what we are doing. We don't have all our eggs in one basket so if one part is no longer profitable we can shut it down and move the money from that area into the other departments.

Hi Merribourne,

Sorry about that, here are my answers for you.

1. I am buying as much as I can at the moment as it is a great price on BTC, I don't own that much LTC as I prefer to hold BTC personally but then I do do some trading between the two as the markets swing...
2. In October we mined just over 4 BTC but we haven't really started the full mining operation. These are the machines we currently have but as we start to sell more contracts this will obviously increase. Our marketing for BanxMining is about to come online in the next few days so we are about to really start ramping things up. We are currently waiting on a delivery of new machines as well which will ramp up our mining operation.
3. We are aiming for as little downtime as possible as we aren't actually shipping our miners over there but buying new machines to install over there and then will be selling of our machines over here so it should have little effect on the opperations.
4. with regards to that we are also mining alt coins based on which one is the most profitable each day so even if BTC hits a lower price we are still covered by the profitability of the alt coins we are mining. Some of these are SCRYPT and some of them are SHA.

I hope that answers your questions somewhat but feel free to keep asking more. If you head over to banxforum.com then you will be able to ask them in there and the whole team is monitoring the threads in there.

Thanks

Simon

Those are all excellent questions, do you mind if i copy your questions and Simons answer over to our new forum at www.banxforum.com ?

I've had chance to read Mark's book. It's very interesting.

I did ask some questions but I think they have been lost in the thread.

1. Simon, are you buying bitcoin and litecoin at current prices and do you personally own a lot of these coins?
2. How many bitcoins did BanxMining mine in October 2014?
3. If you are moving your mining operations abroad, how long will this take and how long will the mining be offline?
4. What is the get-out plan? If bitcoin continues to decline against the USD to, for argument's sake, $50 then surely you won't be able to mine it profitably so at what point will you call it a day?

PM'd you. Thanks for your help.

There is also a new forum opening dedicated to all things Banx, so for your dose of information and anything Banx related head over to http://www.banxforum.com and register, its quick and straight forward, look forward to seeing you all there and we will be packing it full of info as quick as we can , any questions will help us along in our mission