Are BanxShares as good as GAW Paycoin? - page 10.

BARR_Official

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Quote from: bizzyb on March 11, 2016, 06:10:31 PM

RunPaint the market is open and free trading is going on.

Well 1 person has offered to buy 1 BANX for the price of 1 BTS, but it's not exactly free trading is it?

The BanxShares asset on BitShares is "transfer restricted".

Apparently that means you can't transfer it to anyone else in any way except selling on the open market.

So now people can't even offer BANX for sale on Bitcointalk like they've been doing.

And Mark Lyford/Banx currently holds 99.77% of all BanxShares.

bizzyb

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Quote from: BARR_Official on March 11, 2016, 06:02:28 PM

Quote from: Apraksin on March 11, 2016, 05:45:40 PM

Quote from: BARR_Official on March 11, 2016, 05:11:01 PM

Quote from: favdesu on March 11, 2016, 04:55:56 PM

also, didn't they use this chance to issue 10x more shares compared to the initial launch?

That is correct.

BanxShares were originally sold with the promise that there would never be more than 6 million shares.

Now there are 120 million.

But in percentage our share is still the same.

But you have to be on their whitelist to trade on the Bitshares exchange.

Otherwise you can only trade at banx.io, which hasn't allowed anyone to sell BANX "until the ICO is over".

Originally the ICO had to sell some part of 6 million shares at $1.00 before the ICO was over and people could be allowed to sell.

Then they doubled everyone's shares - your percentage was still the same - but they didn't cut the price in half.

So now they would have to take in twice as many dollars before you would be allowed to sell your own.

Then they raised "the ICO price" up to $2.00, so the requirement was quadrupled from the original deal advertised to buyers.

RunPaint the market is open and free trading is going on.

BARR_Official

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Quote from: Apraksin on March 11, 2016, 05:45:40 PM

Quote from: BARR_Official on March 11, 2016, 05:11:01 PM

Quote from: favdesu on March 11, 2016, 04:55:56 PM

also, didn't they use this chance to issue 10x more shares compared to the initial launch?

That is correct.

BanxShares were originally sold with the promise that there would never be more than 6 million shares.

Now there are 120 million.

But in percentage our share is still the same.

But you have to be on their whitelist to trade on the Bitshares exchange.

Otherwise you can only trade at banx.io, which hasn't allowed anyone to sell BANX "until the ICO is over".

Originally the ICO had to sell some part of 6 million shares at $1.00 before the ICO was over and people could be allowed to sell.

Then they doubled everyone's shares - your percentage was still the same - but they didn't cut the price in half.

So now they would have to take in twice as many dollars before you would be allowed to sell your own.

Then they raised "the ICO price" up to $2.00, so the requirement was quadrupled from the original deal advertised to buyers.

Apraksin

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Moon?

Quote from: BARR_Official on March 11, 2016, 05:11:01 PM

Quote from: favdesu on March 11, 2016, 04:55:56 PM

also, didn't they use this chance to issue 10x more shares compared to the initial launch?

That is correct.

BanxShares were originally sold with the promise that there would never be more than 6 million shares.

Now there are 120 million.

But in percentage our share is still the same.

BARR_Official

hero member

Activity: 686

Merit: 500

So....

Mark Lyford/Banx owns 119,724,477 out of 120,000,000 BANX....

proctologic owns another 200,000...

Which means only 75,523 are owned by anyone else?

Maybe they're still doing their swapover.

BARR_Official

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Quote from: brekyrself on March 11, 2016, 04:56:18 PM

If the market is new, liquidity will take time to build and find the market price.

I don't think it's just too new to have any buy orders. It's not too new to have $12,000 worth of sell orders.

BARR_Official

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Quote from: favdesu on March 11, 2016, 04:55:56 PM

also, didn't they use this chance to issue 10x more shares compared to the initial launch?

That is correct.

BanxShares were originally sold with the promise that there would never be more than 6 million shares.

Now there are 120 million.

crypto jerk

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brekyrself

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Quote from: BARR_Official on March 11, 2016, 04:45:26 PM

Looks like there's already 1 order to buy 1 BANX at the price of 1 BitShares per BANX.

http://cryptofresh.com/a/BANX

So that's only 300 or 400 times less than what it's supposed to be worth.

And then there are 27,000 BANX in sell orders.

If the market is new, liquidity will take time to build and find the market price. Still good news its now on the BTS blockchain.

favdesu

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Quote from: BARR_Official on March 11, 2016, 04:45:26 PM

Looks like there's already 1 order to buy 1 BANX at the price of 1 BitShares per BANX.

http://cryptofresh.com/a/BANX

So that's only 300 or 400 times less than what it's supposed to be worth.

And then there are 27,000 BANX in sell orders.

also, didn't they use this chance to issue 10x more shares compared to the initial launch?

BARR_Official

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Activity: 686

Merit: 500

Looks like there's already 1 order to buy 1 BANX at the price of 1 BitShares per BANX.

http://cryptofresh.com/a/BANX

So that's only 300 or 400 times less than what it's supposed to be worth.

And then there are 27,000 BANX in sell orders.

bizzyb

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Don't look at my signature!

Banx now on the Bitshares platform and open trade & pricing.
https://banx.io/trade?c=BANX&p=BTC

RoomBot

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Quote from: mtnsaa on March 08, 2016, 04:33:07 PM

Quote from: favdesu on March 08, 2016, 01:16:15 PM

Quote from: mtnsaa on March 08, 2016, 10:49:56 AM

Could someone explain to me what's happening in simple terms and how the F do I get my money out? I've checked BanxForum but no detailed info is given, thanks.

you probably will never get your money out. you can try via bitshares DEX soon I guess. doubt someone will buy this crap though

Luckily I've never invested in this BS, it was just a giveway...$25 but still it's free money, I should just give up.

Sounds legit.

Grin

mtnsaa

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Quote from: favdesu on March 08, 2016, 01:16:15 PM

Quote from: mtnsaa on March 08, 2016, 10:49:56 AM

Could someone explain to me what's happening in simple terms and how the F do I get my money out? I've checked BanxForum but no detailed info is given, thanks.

you probably will never get your money out. you can try via bitshares DEX soon I guess. doubt someone will buy this crap though

Luckily I've never invested in this BS, it was just a giveway...$25 but still it's free money, I should just give up.

favdesu

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Quote from: mtnsaa on March 08, 2016, 10:49:56 AM

Could someone explain to me what's happening in simple terms and how the F do I get my money out? I've checked BanxForum but no detailed info is given, thanks.

you probably will never get your money out. you can try via bitshares DEX soon I guess. doubt someone will buy this crap though

mtnsaa

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Could someone explain to me what's happening in simple terms and how the F do I get my money out? I've checked BanxForum but no detailed info is given, thanks.

brekyrself

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Quote from: bizzyb on February 27, 2016, 06:05:03 PM

Quote from: Abiky on February 26, 2016, 09:46:38 PM

Quote from: bizzyb on February 26, 2016, 05:15:45 AM

Quote from: mtnsaa on February 24, 2016, 06:17:16 PM

Any recent news on how can we withdraw/exchange our Banx to BTS?

The migration to the Bitshares platform is underway.
Leave your BanxShares in Banx.io and the Banx team will advise regarding the move over to BitShares.

Banx.io is no longer closing, but make sure you withdraw all coins, except BanxShares from Banx.io before the 29th of Feb.

http://banxforum.com/index.php?threads/update-re-banx-io-closure-sale.291/#post-394

I found this rather confusing since how would the conversion from Banx to BTS will exactly occur? I mean is it done automatically or do I have to sell my Banx for BTS? Huh

What is happening is BanxShares are being moved to the BitShares platform.
Hopefully that will mean, assuming there are buyers, they could be traded for multiple pairs.

I've never used BitShares, so I don't know how it works, but Banx.io are managing the conversion.

Interesting. I wonder if they are creating a fee back asset where it will pay shareholders dividends or simply a trading pair vs other derivatives?

bizzyb: Check it out at bitshares.openledger.info. You will be able to see the internal market with trading pairs however if they are creating a fee backed asset, that's another ballgame.

Abiky

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www.Crypto.Games: Multiple coins, multiple games

Quote from: bizzyb on February 27, 2016, 06:05:03 PM

What is happening is BanxShares are being moved to the BitShares platform.
Hopefully that will mean, assuming there are buyers, they could be traded for multiple pairs.

I've never used BitShares, so I don't know how it works, but Banx.io are managing the conversion.

Great! Thanks for the information. So I guess everything will be done automatically, right? If so, then it will be really sweet to see what big changes this will cause to Banx. I hope for a better system on the BitShares platform. Grin

bizzyb

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Quote from: Abiky on February 26, 2016, 09:46:38 PM

Quote from: bizzyb on February 26, 2016, 05:15:45 AM

Quote from: mtnsaa on February 24, 2016, 06:17:16 PM

Any recent news on how can we withdraw/exchange our Banx to BTS?

The migration to the Bitshares platform is underway.
Leave your BanxShares in Banx.io and the Banx team will advise regarding the move over to BitShares.

Banx.io is no longer closing, but make sure you withdraw all coins, except BanxShares from Banx.io before the 29th of Feb.

http://banxforum.com/index.php?threads/update-re-banx-io-closure-sale.291/#post-394

I found this rather confusing since how would the conversion from Banx to BTS will exactly occur? I mean is it done automatically or do I have to sell my Banx for BTS? Huh

What is happening is BanxShares are being moved to the BitShares platform.
Hopefully that will mean, assuming there are buyers, they could be traded for multiple pairs.

I've never used BitShares, so I don't know how it works, but Banx.io are managing the conversion.

mtnsaa

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Quote from: bizzyb on February 26, 2016, 05:15:45 AM

Quote from: mtnsaa on February 24, 2016, 06:17:16 PM

Any recent news on how can we withdraw/exchange our Banx to BTS?

The migration to the Bitshares platform is underway.
Leave your BanxShares in Banx.io and the Banx team will advise regarding the move over to BitShares.

Banx.io is no longer closing, but make sure you withdraw all coins, except BanxShares from Banx.io before the 29th of Feb.

http://banxforum.com/index.php?threads/update-re-banx-io-closure-sale.291/#post-394

Thank you, that's great to hear. I can't believe there seem to be a happy ending to this.

Topic: Are BanxShares as good as GAW Paycoin? - page 10. (Read 47072 times)