Are BanxShares as good as GAW Paycoin? - page 29.

ByronP

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Quote from: starmman on September 26, 2015, 08:28:27 AM

Quote from: ByronP on September 26, 2015, 06:51:29 AM

3. The price is pegged to USD and just as the value of USD fluctuates and the value of BTC fluctuates so does the actual sale price of BANX. Take a FOREX 101 class please.

Hi Byron,

This could very easily be me being confused here, I would expect that if the BANX price was pegged to the USD then the BANX/BTC price graph in coinmarketcap would follow a similar pattern to an inverse of the BTC/USD, I would have expected a price drop of BANX in July, and another drop over the last week for example. I can vaguely see some long-term trend of an inverse of BTC/USD, however generally BANX/BTC is following an upward trend with just two slight dips in the last year maybe its just infrequency of updates or something about the market cap price that I don't understand.

It would be nice if you could briefly explain how it works, if you have the time.

And, sorry for not posting images of the graphs I'm looking at - I didn't work out how to do that yet =)

Yes unfortunately it doesn't update automatically and the calculation is not just the relative price of BTC to USD. The value of USD is in constant fluctuation. Luckily the value of USD has gone up but the value of BTC to USD has remained relatively stable so the minor fluctuations are of little concern. If there is an important change we try to catch it but don't always. This is an area we need to work on and I will see if I can find a way to have it automatically update based on thresholds (otherwise it would never be stable). Basically what it means is that if you bought in when USD was down not to long ago despite the price of BTC to USD being down your overall worth is up.

runpaint

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Quote from: ByronP on September 26, 2015, 06:51:29 AM

1. A business is a living organism and everyone know that business plans are actually designed to be changed. Companies that fail are often a victim of not being flexible to the changing market conditions. Which if you don't understand you should not invest in anything because it's business management 101.

So when someone says there will never be any additional shares, everyone knows that it means there will be more shares?

Then you agree that Mark is lying about LottoShares, correct? He will issue more shares, and give some to Dan and Stan, because he doesn't have to do what he says? Because that's Business 101?

Can your customers also change the rules, or is it just you? What if your customers also took Business Management 101, and they try to screw you the way you're screwing them?

What if they agreed to the terms and conditions of the Banx.io exchange, and then they break the rules - you wouldn't ban anyone, would you? Just because they agreed to certain rules, that doesn't mean anything in business. Your Terms and Conditions were designed to be changed unilaterally by one party without the other party's foreknowledge or consent. Correct?

If you don't let customers cheat and steal on your exchange, then you should not run an exchange because that's just standard stuff that they teach in business schools.

Quote

2. This was an error with more than just the BANX market, it had nothing to do with Banx as a company, it was a long running error that I created and fixed as soon as it was brought to my attention.

The first time, or the second?

Before you were running the exchange, or after, or both?

Before you were there, Banx went from $3000 daily volume to $79,000 for just one day, which somehow coincided with a price increase, and then it went back to $3000.

Most people do not believe the Banx numbers on CoinMarketCap.

Quote

3. The price is pegged to USD and just as the value of USD fluctuates and the value of BTC fluctuates so does the actual sale price of BANX. Take a FOREX 101 class please.

Where are the fluctuations? It mostly looks like deliberate price manipulation - almost always a flat line, with steep increases. Very little fluctuation. Not like USD or BTC at all.

This is not what real market data looks like:

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4. Yes, it's called an ICO/PIO. Again I urge you to go to college.

Initial Coin Offering/Person of Indian Origin? I doubt there's a college course about premined altcoin sales. In the real stock market it's called an IPO. But your little play-market is good too, I'm sure you're very proud.

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5. Not true with the exception of investors that have agreed to certain terms.

But you said agreements and terms don't mean anything. Business Management 101?

You may not know this, but investors are living organisms.

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6. Yes Mark received more shares

Received them...from whom? From himself?

starmman

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Quote from: ByronP on September 26, 2015, 06:51:29 AM

3. The price is pegged to USD and just as the value of USD fluctuates and the value of BTC fluctuates so does the actual sale price of BANX. Take a FOREX 101 class please.

Hi Byron,

This could very easily be me being confused here, I would expect that if the BANX price was pegged to the USD then the BANX/BTC price graph in coinmarketcap would follow a similar pattern to an inverse of the BTC/USD, I would have expected a price drop of BANX in July, and another drop over the last week for example. I can vaguely see some long-term trend of an inverse of BTC/USD, however generally BANX/BTC is following an upward trend with just two slight dips in the last year maybe its just infrequency of updates or something about the market cap price that I don't understand.

It would be nice if you could briefly explain how it works, if you have the time.

And, sorry for not posting images of the graphs I'm looking at - I didn't work out how to do that yet =)

chryspano

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Lets leave the poor trolls alone... and please keep any mirrors away from them, realization of their true nature will make them feel really really bad!

ByronP

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Quote from: runpaint on September 26, 2015, 02:18:30 AM

Which of these proven facts are you denying?

- The plans detailed in the Banx Business Prospectus have not been followed.
- The BANX market data at CoinMarketCap has been shown to be false on more than one occasion, and Mark has admitted to it.
- The coin is supposed to be in the ICO phase with a fixed price, but the price has repeatedly gone up.
- Banx has had complete control to fix the price of BANX because it is only sold on an exchange owned by Banx.
- The people who bought BANX at Banx.io are not allowed to sell BANX at Banx.io.
- Mark gave himself millions of extra shares after publicly promising that no more shares would be created.

Do you have anything useful to add?

1. A business is a living organism and everyone know that business plans are actually designed to be changed. Companies that fail are often a victim of not being flexible to the changing market conditions. Which if you don't understand you should not invest in anything because it's business management 101.
2. This was an error with more than just the BANX market, it had nothing to do with Banx as a company, it was a long running error that I created and fixed as soon as it was brought to my attention.
3. The price is pegged to USD and just as the value of USD fluctuates and the value of BTC fluctuates so does the actual sale price of BANX. Take a FOREX 101 class please.
4. Yes, it's called an ICO/PIO. Again I urge you to go to college.
5. Not true with the exception of investors that have agreed to certain terms.
6. Yes Mark received more shares, everyone's shares doubled to be exact. This was also not a decision made without majority approval.

Do you have anything real other than being a troll?

See I can format text to be annoying too Roll Eyes

timmyd

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@Runpaint just because your now using bold doesnt make your trollishness any more credible, It just highlights your public stupidity even more

runpaint

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Quote from: MarkLyford on September 26, 2015, 04:50:58 AM

I feel I have addressed every major point of his initial questions now

Havin a laugh? Bubbles?

Quote from: MarkLyford on September 26, 2015, 04:37:52 AM

Quote from: runpaint on September 26, 2015, 02:18:30 AM

Which of these proven facts are you denying?

- The plans detailed in the Banx Business Prospectus have not been followed.
- The BANX market data at CoinMarketCap has been shown to be false on more than one occasion, and Mark has admitted to it.
- The coin is supposed to be in the ICO phase with a fixed price, but the price has repeatedly gone up.
- Banx has had complete control to fix the price of BANX because it is only sold on an exchange owned by Banx.
- The people who bought BANX at Banx.io are not allowed to sell BANX at Banx.io.
- Mark gave himself millions of extra shares after publicly promising that no more shares would be created.

Do you have anything useful to add?

Every investor knows the some of the prospectus plans have been delayed or changed. Thats what happens in a fast moving business. (yeah that business word again)

You changed the outlined plans from the prospectus, before the IPO even launched. That's not business moving fast, that's you moving fast before business ever begins.

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CMC are completely happy with our data. As proven by the issue resolved thread.

But they've repeatedly had to ask you to correct the obviously false data you sent them. If it's happened twice, it could still be happening.

It makes no sense that the marketcap could quadruple, during the ICO phase, with a static supply and a set ICO price.

The numbers don't add up, and all the numbers come from you. Why do you expect everyone to take your word for it?

Quote

I never stated it was a fixed price.

Yes you did, and I've quoted it here, and I will quote it again if necessary. You said the price was set in dollars, not bitcoin, and therefore the BTC price might go up but the dollar price would remain the same.

Furthermore, you 100% fix the price at your exchange since you're in complete control of all the sell orders.

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Anyone is welcome to get our wallet and list Banx on their exchange as previously demonstrated. Although we will be moving to BTS 2.0 so I guess thats why no one is acting upon that yet.

It was previously demonstrated that you publicly attacked and/or accused the only 2 exchanges which listed BANX, and you invalidated all BANX coins held at those exchanges. So I guess THAT'S why no other exchanges will list your coin.

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People ARE able to sell Banx on banx.io as many people do.

But not anyone who BOUGHT Banx at banx.io, correct? All the supposedly authentic sell orders are from some secret investors who bought privately from you, off the exchange, and then for some reason brought the coins to the exchange, to sell them below the ICO price?

Meanwhile all real persons posting at Bitcointalk, who are not affiliated with Banx, have reported that they have never been allowed to sell their Banx at banx.io and that their sell orders were cancelled when you raised the price.

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I doubled the Banx shares for everyone. the percentages are the same. No one lost out only gained.

You doubled your own shares that you "personally" own, as well as the shares you control which are "owned by Banx Capital". Those are the shares being sold during the ICO - so you've screwed the investors by doubling the amount of your own shares which must be sold before anyone else is allowed to sell theirs.

By doubling your shares, you potentially doubled the length of the ICO period - and you also assured that you would be the only one getting the high prices before any possible crash.

MarkLyford

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@runpaint,

I have some work to do now (yes I WORK on a Saturday) so if its ok with you I won't be monitoring your rubbish for a few hours. Hope thats ok .

MarkLyford

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Quote from: runpaint on September 26, 2015, 04:53:09 AM

Quote from: MarkLyford on October 18, 2014, 03:19:24 AM

there will never be more than 6 million BANX shares issued.

But there are 12 million BANX shares now. How many extra LottoShares will be issued?

You're launching a new coin, but your promises are meaningless. Do you understand that? Your word means nothing when you say there will be no more than 2 million LottoShares, because you said the same thing about BanxShares and your word meant nothing then either.

Instead of blaming me for pointing out your problems, maybe you would do better to work on those problems. You are the main source of your own problems, not me.

You really are like a broken record. We have addressed the banx doubling before and like I have said many times before everyones Banx got doubled, So what issue would you have with that?

There are 2 million Lotto Shares, would you like to buy some?

I can promise you this. Your replies are killing your initial posts.

runpaint

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Quote from: MarkLyford on October 18, 2014, 03:19:24 AM

there will never be more than 6 million BANX shares issued.

But there are 12 million BANX shares now. How many extra LottoShares will be issued?

You're launching a new coin, but your promises are meaningless. Do you understand that? Your word means nothing when you say there will be no more than 2 million LottoShares, because you said the same thing about BanxShares and your word meant nothing then either.

Instead of blaming me for pointing out your problems, maybe you would do better to work on those problems. You are the main source of your own problems, not me.

MarkLyford

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Quote from: starmman on September 26, 2015, 04:41:26 AM

Quote from: runpaint on September 26, 2015, 03:24:40 AM

Quote from: starmman on September 26, 2015, 03:00:43 AM

The start of this thread looked pretty credible, however all the spin put on these posts has somehow actually made me more likely to want to invest in Banx

That might make sense if even one person had disagreed with my facts, other than people who are personally involved with Banx.

But yeah, after the devs tried to find my address and then implied that they wanted to murder me, I can see how I responded to them with some "spin" that totally discredits what I've been saying. You should follow your instincts and buy from those people, who have conducted themselves much better than I have.

Quote from: starmman on September 26, 2015, 03:00:43 AM

however still wouldn't touch this with a barge pole until the product has been listed on multiple exchanges and a price has stabilised after the closure of the IPO

The coin was launched 12 months ago, so maybe the IPO will end soon.

If it ever gets listed on an exchange that's not owned by Banx, then the holders will finally be able to sell. And I wouldn't be surprised if there were more people selling than buying for the remaining existence of this asset.

But maybe I'm wrong. Maybe it's worth more than Storj, more than Namecoin, more than Monero, more than NXT.

Maybe it's worth more than MAID - but then how did MAID sell more in the first 5 hours of IPO than BANX has sold in 12 months? Are all those investors waiting for something? Waiting for 12 months, with their money in hand, ready to buy?

To me the posting in this thread started off looking quite professional / credible then descended into a bit of a flame war. Which to an outside reader make both sides of the argument look a more biased which in turn makes it difficult to judge the context of all posts. In my personal opinion, some of your responses feel a little exaggerated which means I must re-read the other posts with that in mind. But I must say that the amount of research you have conducted on the topic is fascinating.

The market will ultimately decide on the what the value is when/if the IPO closes and if there are lots of ambiguities and accusations about the credibility of the Banx platform at that time my expectation would be that that the price would negatively correct itself based on the level transparency (information to investors) that has been delivered by Banx (alongside the profitably of the company and a number of other factors). I can see the higher the level of ambiguity, the greater the impact of the correction.

If Banx can address most of your questions in a way that can satisfy investors you may well have done them an enormous favour. If not, then I'm sure it will be reflected in the price with the IPO closes.

Thank you for your constructive posts.

Despite advice from my team to ignore the trolls I am glad I decided to get involved. If anything it has shown @runpaint in a different light.

I agree his actions may well have helped us in this instance.

I feel I have addressed every major point of his initial questions now, if you would like any of the issues addressing the you feel are unanswered please let me know. I have no issue in responding to people who are not trolls and you are very constructive in your posts so I would be only too pleased to answer anything you want to know.

Thanks

Mark

MarkLyford

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Quote from: runpaint on September 26, 2015, 04:34:53 AM

Sure, I believe you this time.

They probably don't have any LottoShares either.

That's right, they don't have any lotto shares. They are welcome to buy some as anyone is.

If you read the http://LottoShares.com website you will see that Michael Taggart's company owns 25% of the Lotto Shares, The person running the lottery with the license owns 25%, Banx owns 25% and 25% is available for others to buy.

MarkLyford

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Quote from: runpaint on September 26, 2015, 04:10:00 AM

Quote from: chryspano on March 01, 2015, 05:58:58 AM

Who's slandering who?

MarkLyford

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Quote from: runpaint on September 26, 2015, 03:24:40 AM

Quote from: starmman on September 26, 2015, 03:00:43 AM

The start of this thread looked pretty credible, however all the spin put on these posts has somehow actually made me more likely to want to invest in Banx

That might make sense if even one person had disagreed with my facts, other than people who are personally involved with Banx.

But yeah, after the devs tried to find my address and then implied that they wanted to murder me, I can see how I responded to them with some "spin" that totally discredits what I've been saying. You should follow your instincts and buy from those people, who have conducted themselves much better than I have.

Quote from: starmman on September 26, 2015, 03:00:43 AM

however still wouldn't touch this with a barge pole until the product has been listed on multiple exchanges and a price has stabilised after the closure of the IPO

The coin was launched 12 months ago, so maybe the IPO will end soon.

If it ever gets listed on an exchange that's not owned by Banx, then the holders will finally be able to sell. And I wouldn't be surprised if there were more people selling than buying for the remaining existence of this asset.

But maybe I'm wrong. Maybe it's worth more than Storj, more than Namecoin, more than Monero, more than NXT.

Maybe it's worth more than MAID - but then how did MAID sell more in the first 5 hours of IPO than BANX has sold in 12 months? Are all those investors waiting for something? Waiting for 12 months, with their money in hand, ready to buy?

Did you read your own post about agreeing to meet me for a meeting to discuss your concerns? You really are a weird person. You are the one that posted a picture of 'your' gun remember?

starmman

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Quote from: runpaint on September 26, 2015, 03:24:40 AM

Quote from: starmman on September 26, 2015, 03:00:43 AM

The start of this thread looked pretty credible, however all the spin put on these posts has somehow actually made me more likely to want to invest in Banx

That might make sense if even one person had disagreed with my facts, other than people who are personally involved with Banx.

But yeah, after the devs tried to find my address and then implied that they wanted to murder me, I can see how I responded to them with some "spin" that totally discredits what I've been saying. You should follow your instincts and buy from those people, who have conducted themselves much better than I have.

Quote from: starmman on September 26, 2015, 03:00:43 AM

however still wouldn't touch this with a barge pole until the product has been listed on multiple exchanges and a price has stabilised after the closure of the IPO

The coin was launched 12 months ago, so maybe the IPO will end soon.

If it ever gets listed on an exchange that's not owned by Banx, then the holders will finally be able to sell. And I wouldn't be surprised if there were more people selling than buying for the remaining existence of this asset.

But maybe I'm wrong. Maybe it's worth more than Storj, more than Namecoin, more than Monero, more than NXT.

Maybe it's worth more than MAID - but then how did MAID sell more in the first 5 hours of IPO than BANX has sold in 12 months? Are all those investors waiting for something? Waiting for 12 months, with their money in hand, ready to buy?

To me the posting in this thread started off looking quite professional / credible then descended into a bit of a flame war. Which to an outside reader make both sides of the argument look a more biased which in turn makes it difficult to judge the context of all posts. In my personal opinion, some of your responses feel a little exaggerated which means I must re-read the other posts with that in mind. But I must say that the amount of research you have conducted on the topic is fascinating.

The market will ultimately decide on the what the value is when/if the IPO closes and if there are lots of ambiguities and accusations about the credibility of the Banx platform at that time my expectation would be that that the price would negatively correct itself based on the level transparency (information to investors) that has been delivered by Banx (alongside the profitably of the company and a number of other factors). I can see the higher the level of ambiguity, the greater the impact of the correction.

If Banx can address most of your questions in a way that can satisfy investors you may well have done them an enormous favour. If not, then I'm sure it will be reflected in the price with the IPO closes.

MarkLyford

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Quote from: bizzyb on September 26, 2015, 02:19:01 AM

Don't feed the trolls.
Science Confirms: Internet Trolls Really Are Narcissistic, Psychopathic, and Sadistic (1)

^^ I'll be sure to check it out.

MarkLyford

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Activity: 455

Merit: 250

Quote from: runpaint on September 26, 2015, 02:18:30 AM

Which of these proven facts are you denying?

- The plans detailed in the Banx Business Prospectus have not been followed.
- The BANX market data at CoinMarketCap has been shown to be false on more than one occasion, and Mark has admitted to it.
- The coin is supposed to be in the ICO phase with a fixed price, but the price has repeatedly gone up.
- Banx has had complete control to fix the price of BANX because it is only sold on an exchange owned by Banx.
- The people who bought BANX at Banx.io are not allowed to sell BANX at Banx.io.
- Mark gave himself millions of extra shares after publicly promising that no more shares would be created.

Do you have anything useful to add?

Every investor knows the some of the prospectus plans have been delayed or changed. Thats what happens in a fast moving business. (yeah that business word again)

CMC are completely happy with our data. As proven by the issue resolved thread.

I never stated it was a fixed price.

Anyone is welcome to get our wallet and list Banx on their exchange as previously demonstrated. Although we will be moving to BTS 2.0 so I guess thats why no one is acting upon that yet.

People ARE able to sell Banx on banx.io as many people do.

I doubled the Banx shares for everyone. the percentages are the same. No one lost out only gained.

runpaint

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Sure, I believe you this time.

They probably don't have any LottoShares either.

MarkLyford

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Quote from: runpaint on September 25, 2015, 09:57:28 PM

Did you see how he freaked out when I asked how many shares were going to Dan and Stan? Something about that touched a nerve.

Again. Because you can't read. No Banx shares have gone to Dan and Stan. None. We have simply said we are using the new BTS 2.0 system. Not hard to get your head around, nothing more nothing less.

runpaint

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Quote from: chryspano on March 01, 2015, 05:58:58 AM

Topic: Are BanxShares as good as GAW Paycoin? - page 29. (Read 47093 times)