Topic: Issue resolved. - page 3. (Read 5214 times)

Whilst I agree with some of the points in your rant, with all due respect it is largely nothing to do with the points I'm raising.  and seems to be posted with the ulterior motive of self-promotion of your own platform. Whilst you make a point we shouldn't scream out prematurely when we see something that looks like a red flag you are adopting the opposite approach in the defense stand; constructing stories about how the daily $15k volume comes from buyers who are holding these shares and earning profits from the underlying company. Whilst that's a nice idea If you researched this particular asset more you'd find that quite far fetched, it's clutching at straws.

I'm comfortable in my accusation that the devs have 'scammed' their way to a $10 million market cap and 'scammed' their way to producing fake volume reports on the only platform their 'asset' exists on- both of which are owned by themselves. This is done with the intention of making their project more appear more successful than it actually is, and that is not fair and open business to me. I don't trust manipulation.  Tell me this is normal.


Exactly my point. Thank you.

Agreed it's off topic. So to stay on topic, for you complainers if you see an error somewhere please report it to me. If you don't like or understand assets don't be a BANX holder. If you don't like me or management then don't be a BANX holder. If you don't like... you guessed it don't be a holder! It's a simple concept.

You obviously have not seen the code or even the api... you are comparing apples to a rock... there is no comparison... please read up on assets and financial platforms before making uninformed comments.

CMC pulls its data from the site just like you did so I don't know where the error is at this point. Also remember that this is an asset not a currency. As such assets have different parameters, prices, holds and more depending on what was negotiated for the sale. Regardless you should not call something a scam until there is some proof of such. When it comes to BANX there is a plan and it has been slowly rolling out and users have been receiving there payouts as negotiated. These are the indicators of a company that is working hard in the right direction not one that has any intention of scamming anyone. There is a ton of projects going on and a lot of money that has been invested by the owner, so if anyone stands to lose it’s him. He is going out on a limb with his money to make the plan a reality and when I say this I mean the man really has put his money on the line here.

Now as per bitshares there is a big misguided thought here. People have judged bitshares by the creator not by the technology. If you look at bitshares V2 you will see that this technology is not even in the same realm as nxt or ripple. The functionality that is being implemented is well beyond any other and in the end isn't that what matters. If you don't like bitshares don't use bitshares (both the asset and technology) that's a personal preference but if you try and deny its possibilities you are being ignorant. Just as an example bitcoin could be converted to this technology and gain all of the features of it and the creator wouldn't be rich because of it, it would just be another asset.

Many people also don't like the idea of 1 share 1 vote because it takes a lot of money to have a major impact on decisions and they don't think it’s fair to the small holder. However this is in fact fair because a person with a bigger interest has more on the line and therefore has more voting power. This means the system is capitalistic and republic. Is that really a bad thing when you are someone with millions on the line, I don't think so. If banks use this or similar technology our global economic landscape could be changed and even a small country could have the deciding vote on a change.

These are my thoughts and don’t represent any official stand by Banx Capital, owners, partners or affiliates.

By 'does nothing with it' you mean 'nothing apart from dominating the assets market and creating an ecosystem worth more than the total market cap of NXT itself ', I assume ?

Anyhow, much as I love the old BTS vs NXT grudge match......can we move back on-topic ?
You lot do know that this topic is about Banxshares, not Bitshares, right ?

Where do you think Bitshares is getting their ideas from?

NXT makes it, does nothing with it, Bitshares then takes it and Bitshares capitalization goes up.   

Time for a quick update:

In the last couple of hours, we've seen 2 new trades on Banx.io:

83422   Buy   0.00671000   104.00000000   0.69784000   Jun 18, 2015 10:03 PM
83418   Buy   0.00671000   147.00000000   0.98637000   Jun 18, 2015 8:28 PM
83417   Buy   0.00671000   69.00000000   0.46299000   Jun 18, 2015 7:02 PM

Call it 1.7 BTC on those two trades, $ 425

And on CMC:
http://coinmarketcap.com/currencies/banxshares/#markets

The 24 hour trade volume has risen to $16,940, a jump of $1500. 
Curiouser and curiouser.

That doesn't make any sense, Stan, and isn't even on-topic.

The point is : CMC shows $15,000 traded in 24 hours on Banx.io, but Banx.io shows slightly over $3000 traded in the same period.
Cynical people (like myself) would assume that this is some form of market manipulation, but I'm open to other explanations.

Precisely, Bitcoin 2.0 "Smartchain" technology, like NXT, BitShares, et. al. needs to be evaluated differently than the rules for evaluating simple 1.0 style coins.  Nothing wrong with coins, but they are just the first sliver of daylight at sunrise.

How about most of them are HODLers in the underlying asset so they can get a piece of its profits instead of a piece of its appreciation?  Such assets don't trade that much, especially if they belong to private shareholders of a real company.

Again, expand your thinking about the kinds of things transparent ledger technology is good for.

Watch the 5 minutes with Max clip again and again until...

They're old concepts, Stan.

NXT got there a long time before you, as you well know.
But imitation is the sincerest form of flattery, so thanks, mate!

What a coincidence!

Max Wright just released this interview with Dan Larimer on User Issued Assets!

User Issued Assets

A detailed written explanation can be found here:

https://bitshares.org/technology/user-issued-assets/


Once you've pondered BanxShares with these new mind-expanding concepts in your head you'll see that there is much more you can do with crypto than the minds of men have yet to imagine.


My only recommendation is that financial products like this are better off being listed on the BitShares Exchange Network (BEN) as user issued assets rather than as stand-alone coins.  On Big BEN they would find higher performance, lower costs, greater network effect, and informed, economically aware people who are looking for lucrative new business models and financial instruments in which to trade, speculate, and invest.

Just for a laugh, decided to run the numbers.

Taken from Banx.io trade history, this is all the trading for the last 24 hours:

                        Banx Price   Quantity             BTC cost

83417   Buy   0.00671000   69.00000000   0.46299000   Jun 18, 2015 7:02 PM
83413   Buy   0.00671000   55.00000000   0.36905000   Jun 18, 2015 5:32 PM
83408   Buy   0.00671000   145.00000000   0.97295000   Jun 18, 2015 4:00 PM
83406   Buy   0.00671000   90.00000000   0.60390000   Jun 18, 2015 2:32 PM
83405   Buy   0.00671000   128.00000000   0.85888000   Jun 18, 2015 1:01 PM
83403   Buy   0.00671000   129.00000000   0.86559000   Jun 18, 2015 11:49 AM
83400   Buy   0.00671000   136.00000000   0.91256000   Jun 18, 2015 10:29 AM
83398   Buy   0.00671000   127.00000000   0.85217000   Jun 18, 2015 9:03 AM
83397   Buy   0.00671000   149.00000000   0.99979000   Jun 18, 2015 7:58 AM
83396   Buy   0.00671000   96.00000000   0.64416000   Jun 18, 2015 6:57 AM
83395   Buy   0.00671000   97.00000000   0.65087000   Jun 18, 2015 5:51 AM
83394   Buy   0.00671000   57.00000000   0.38247000   Jun 18, 2015 4:30 AM
83393   Buy   0.00671000   58.00000000   0.38918000   Jun 18, 2015 3:26 AM
83392   Buy   0.00671000   144.00000000   0.96624000   Jun 18, 2015 1:58 AM
83391   Buy   0.00671000   135.00000000   0.90585000   Jun 18, 2015 12:25 AM
83390   Buy   0.00671000   93.00000000   0.62403000   Jun 17, 2015 11:21 PM
83388   Buy   0.00671000   62.00000000   0.41602000   Jun 17, 2015 10:19 PM
83387   Buy   0.00671000   74.00000000   0.49654000   Jun 17, 2015 9:01 PM
83385   Buy   0.00671000   1.40000000           0.00939400   Jun 17, 2015 8:45 PM
83382   Buy   0.00671000   72.00000000   0.48312000   Jun 17, 2015 7:29 PM


Being too lazy to get the calculator out, I estimate total BANX trading on Banx.io at around 13 BTC / $3250 over the last 24 hours.
CMC shows 62 BTC / $15,500:
http://coinmarketcap.com/currencies/banxshares/#markets

Er....anyone got a sane explanation ?

Ummm....where does the CMC information come from ?
Looking at the Banx.io BANX<>BTC market shows pretty much no activity:
https://banx.io/trade?c=BANX&p=BTC

So where is the trading that BANX market cap is based upon ?

Ok, so diving through your sarcasm I think the best you can say is buyer beware just in case Banx doesn't deliver against its business plan.  Isn't that a risk with investing in anything?

Its not as if Banx is claiming to be something it isn't....

We need to be careful about crying "scam" all the time until we take the time to understand the underlying business models and what an issuer is trying to accomplish for her target customers.

We're not in Kansas anymore, Toto, and every innovative digital asset is not trying to be a payment coin.

That means you need to do your homework before you invest in anything.  And before you criticize it.

But that homework is much more than superficial arguments about Proof of Manhood or how decentralized something really is or whether the solution is "sufficiently cryptolitically correct", whatever that means.

Serious businesses are starting to enter the space with serious services they are offering to serious customers.

If a serious business is meeting the needs of serious customers then we do everybody a disservice by making the coinmarketcap ecosystem into a never-ending firing range for people who have no idea what they are criticizing or how to fairly evaluate it.

Keep it up and you'll kill off most of the innovation you are hoping to invest in.  That, or serious businesses will take their opportunities elsewhere.

This is what matters, they are clearing faking trade data.  I think I am going to notify CMC that they should look closer at this one.

Its not a coin therefore mining specs are irrelevant.

Here is the ANN thread:  https://bitcointalksearch.org/topic/ann-banx-liquidity-paid-back-in-from-profits-813191

Read the prospectus if you want a full understanding of Banx http://banxcapital.s3.amazonaws.com/Banx_Capital_Prospectus.pdf