https://bitcointalksearch.org/topic/ann-banx-liquidity-paid-back-in-from-profits-813191
Apparently it's an investment company that pays dividends, and ownership of BanxShares gives you a share of ownership in the BanxCapital company.
The main selling point is that the CEO Mark Lyford says he ran 32,000 porn websites and made millions of dollars. Therefore, he knows how to make money; therefore, buy BanxShares.
The shares can be bought, but then you can't really sell them because the coin is still in its ICO (initial coin offering). The ICO was supposed to last until the public shares were sold. But then they doubled the number of shares, so the ICO may never end, and they may never allow people to sell below their controlled price, which may mean not at all, since they operate their own exchange. But they may buy them from you cheaper, off-the-books - it's not clear, but in this thread we examine the available information.
When the coin launched, there was confusion at C-Cex and Alcurex when the network forked and only shares held at Banx.io were valid. This is what the exchanges were told by these 2 guys who are supposedly the devs:
your a real funny guy.. Our new public wallet is currently being finished up
Link please, so we can update and let our customers make withdrawals of their BANX from c-cex!
How is that suddenly Mark's problem?
Do you need him to help run your exchange? cus you sure as shit can't.
It would have been nice of you to contact us before listing our shares on your exchange... If you had done that you would have found out that the shares are currently locked to our exchange as we are doing security updates on the wallet.
Once these updates are complete then we will be considering which exchanges to be listed on and these exchanges will be given the right nodes to connect their wallet to.
Please send me a message on here or get in touch via Skype @ yesbossdodd and I will happily talk to you about everything.
Thanks
Simon
This is very confusing.Once these updates are complete then we will be considering which exchanges to be listed on and these exchanges will be given the right nodes to connect their wallet to.
Please send me a message on here or get in touch via Skype @ yesbossdodd and I will happily talk to you about everything.
Thanks
Simon
I'm talk with MarkLyford when BANX was listed on alcurEX.
I tought he is one of the main developer.
alcurEX exchange is even named in this thread first page.
How you can say we are not contact with you?
So BANX held all the coins, and they sent some to 2 different exchanges, and then hard-forked so their own coins were invalid and unsendable...and they blamed the exchanges.
BANX Shares – Now live on c-cex.com too! - http://banxcapital.com/banx-shares-now-live-c-cex-com/
And who put the coins into C-Cex and Alcurex? Nobody but Mark.
BANX market is delisted on alcurEX.
All who bought BANX, your trades are cancelled and bitcoins are back deposit in your account.
Mark. Only in your account have BANX anymore.
How you want me to send it back to you?
Because wallet is blocked from your network, I can't send transaction.
All who bought BANX, your trades are cancelled and bitcoins are back deposit in your account.
Mark. Only in your account have BANX anymore.
How you want me to send it back to you?
Because wallet is blocked from your network, I can't send transaction.
But can't people mine this "cryptocurrency"?
Some people have been asking about the mine-ability of Banx shares. I have shot a quick video explaining more about the situation here: http://banxcapital.com/information-about-banx-shares-mining/
Cheers all
Mark
Cheers all
Mark
In this video the internet millionaire founder of BANX explains that he wanted the coin to be mineable - he's a miner himself - but they "got hit too hard" by big miners who just dumped all the coins. So they removed the proof-of-work mining from the coin. (He's explaining this on the 1st day the coin was announced)
He seems to think that having more miners means more coins are generated.
On day 2 of the announcement, we get testimonials from accounts registered the same day:
Hey guys
I just wanted to share my experience with Banx along with the entire Banx team.
First off im just getting into mining , I started mining by being involved with a Boinc distributed computing project that used the asic devices. A little over a month ago I decided to try mining bitcoins and other various altcoins, and I’ve always been on the hunt for new coins to mine and then I came across banx shares one day.
I was one of the lucky few who got on on the banx mining very early. Before I started mining I did alot of searching around on banx and then Mark Lyford before deciding to move my miners over to Banx shares.
Eventually I ended up investing about .09 to 1.1 btc into rentals for hash power directed at the Banx shares. In the end when mining ended I had turned my investment into about 7 btc.
Now I only cashed in about half of the shares 3.5 and im holding onto the other half.
Along the way there we some issues and I got nervous but I was actually able to get a hold of mark and others from the banx team, and those issues and bugs on the exchange were quickly fixed. along with that I had tons of questions about the company itself , and its plans which Mark was glad to answer. He took time to talk to me and others on skype about any questions concerns or feedback we had.
I for one will be investing more into this company and shares. You can’t argue with 7 fold increase in a week and their plans seem solid and very realistic.
I just wanted to share my experience with Banx along with the entire Banx team.
First off im just getting into mining , I started mining by being involved with a Boinc distributed computing project that used the asic devices. A little over a month ago I decided to try mining bitcoins and other various altcoins, and I’ve always been on the hunt for new coins to mine and then I came across banx shares one day.
I was one of the lucky few who got on on the banx mining very early. Before I started mining I did alot of searching around on banx and then Mark Lyford before deciding to move my miners over to Banx shares.
Eventually I ended up investing about .09 to 1.1 btc into rentals for hash power directed at the Banx shares. In the end when mining ended I had turned my investment into about 7 btc.
Now I only cashed in about half of the shares 3.5 and im holding onto the other half.
Along the way there we some issues and I got nervous but I was actually able to get a hold of mark and others from the banx team, and those issues and bugs on the exchange were quickly fixed. along with that I had tons of questions about the company itself , and its plans which Mark was glad to answer. He took time to talk to me and others on skype about any questions concerns or feedback we had.
I for one will be investing more into this company and shares. You can’t argue with 7 fold increase in a week and their plans seem solid and very realistic.
And then this guy asks:
From what I'm being told, it's not possible to receive some coins and send those same coins out within the same block (different transactions). So it looks extremely suspicious when I see over 10 million coins being transacted within a single block. There's only supposed to be 6 million coins correct? The blocks in question are 157, 171, 172, and 173.
The "answer":
Hi there, I will get my wallet / share dev to answer these specifics if thats ok . I'm the guy running it all but not the tech doing all that.
I can confirm that there are a total of 6,000,882 BANX available though.
rest assured what ever info we need to give you to assure you and have you as an investor I will make sure happens
Feel free to add me on skype ID mjlyford to ask me any other questions.
Expect to hear from th3joker (my dev) shortly
Regards
Mark
Then apparently they're selling physical coins....
Right I'm getting packed to fly on vacation guys, I'll keep keeping this thread periodically while away
Regards
Mark
Regards
Mark
A user named relaric asks how they're already paying dividends when they're still trying to raise $2 million with the ICO, and why should anyone invest other than "I'm an internet millionaire, click here for my one weird secret". Also, he wants to know what kind of CEO takes a vacation for a week after Week 2 of launch. The answer:
The company edge is me. Plain and simple. I'm the one that will make this work in addition to the kick ass people around me I have. The other big edge is the background online we have and our extensive affiliate base. I did have 32,000 sites, and was making $2 mill a year recurring between 1999 - 2001, and I am an internet entrepreneur. Nothing misleading at all. People should believe in this company because of me. Because anyone who really knows me knows i work my ass off and won’t give up until the goal and job is done.
We have many more resources , including the webinar we did last week for investors. Anything you would like to see not addresses please let me know.
We are mining, we have banx.io and we as selling shysical coins. yes. and most of the equipment in our offices are from our previous businesses. We are teady to trade and up the trade numbers, no one is trying to give the impression we are bringing in lots of money already/
Listen pal. no ponzi scheme here. hardly any over heads associated with the businesses now running and banx.io has made over 3 BTC in fees. That is what is being used to pay out profits. .
I think we have done great job of highlighting what we are doing.
If you have more questions , why not add me on skype and lets have a voice call.
This ICO will last until it is fully funded. The kind of CEO that takes a weeks vacation is the kind that 1, has been working 20 hours days for the last 6 months on this stuff and two is online, laptop and phone off and on all day still working.
I agree streamlined one company to do a multitude of things is the vision i have and it will happen.
Add me on skype ID mjlyford if you would like , I want you to be convinced if that is indeed possible to do
Regards
Mark
So...the reason they can already pay dividends to justify the $2,000,000 IPO is because "banx.io has made over 3 BTC in fees. That is what is being used to pay out profits."
I won't ask how they made 3BTC in fees when the only orders were just themselves selling their own coins to new buyers.
They instamined millions of coins, sold them, and then also charged people fees to buy the coins. And then they're calling those fees the profits, and they're going to distribute "the profits" back to the people the money came from.