Topic: Issue resolved. - page 4. (Read 5224 times)

Since you're a security rather than a coin, you're going to find it difficult getting listed on an US exchanges such as Bittrex, Cryptsy, or Poloniex. They are not licensed to trade securities and would open themselves up to some serious legal problems if they listed you.

I don't know about the rest of the world, but many countries have similar securities laws as the U.S., so you may be facing an uphill battle.

Good luck.

As of right now there is 64 BTC  (or $ 15,876) in volume reported by CMC.
Apparently this project is worth 39,346 BTC (or $10 million USD), again as reported by CMC

http://coinmarketcap.com/currencies/banxshares/

Here is their exchange, with a single buy order
https://banx.io/trade?c=BANX&p=BTC

Here is the trade volume

https://www.banx.io/SimpleAPI?a=orderbook&c=BANX&p=BTC

mirror here (http://justpaste.it/ltf1)

The numbers clearly don't add up.

The coinmarketcap photo in the original post shows nearly 15,000$ of volume in 24 hours?  Where are they getting that number from?  There is clearly not that much Banx trading going on at banx.io, and that's it's only exchange at the moment.

For clarification we have never sold our crypto based banx shares to anyone publicly, hence the reason we are selling to private investors. All Banx for sale on exchanges are people selling their own shares.

many thanks

I appreciate your comments , especially the last one about setting up a new account

We believe in open communication and transparency which is why we are responding to this post.  Thank you for pointing out your concerns but, as we will demonstrate, the suspicions raised here are unfounded.  Our company is completely legitimate, as our significant number of backers will confirm, and we have consistently paid out monthly profits since November 2014.  We hope that any misunderstandings about our legitimacy can be thwarted by way of the following explanations:

We are currently still selling our shares to private investors and we do so at a dollar value rather than a bitcoin value.  So when the price of bitcoin changes, our share price changes. CMC list the price of coins as a bitcoin value and not a dollar value, which makes it look like our price is increasing on CMC but this is actually due to the price of bitcoin declining against the dollar. In addition to this CMC only list the shares that are in the public domain that are available to the public.

Like many companies, our activities on online platforms are limited to a select few.  We have chosen not to use Reddit very often, which we do not see as being any cause for concern.

We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase. We expect this will change in the future, but it is really up to third parties.  Our wallet is available for anyone to use and add to their exchange on github since our change over to POS.  Our shares were previously available on c-cex but users on their system were involved in a hack to our blockchain, which meant that they had to be moved over to our own exchange for security purposes.

Importantly, our business model is based on a fee-share, which our current investors receive monthly, and where the coin value lies. It might be an unconventional system, but it is no cause for such accusations, and our investors are certainly happy with it.

If anyone still has any concerns, please feel free to contact us directly and we will be happy to provide you with more information.


Mark Lyford

As far as I know, there is no requirement to have a licence to sell shares in your business in the UK.

There are so many useless coins that don't deserve to be at the top of coinmarketcap.

So it's not a coin, it's an unlicensed security.

Yet another red flag that should tell you to stay away.

Firstly, Banx Shares are not a coin.  I think its a share issue based on various Bitcoin related businesses using the blockchain as a ledger. I guess this in itself leads to a question why it is on coinmarketcap at all.

From what I can tell, all investors receive their dividends on a monthly basis although there have been some customer service issues in recent times that are being addressed.

Mark Lyford, the CEO, seems to be extremely open about the business model and mechanisms behind it.

I think you're going to have to come up with more evidence to prove this is a scam.  

I don't own any Banx Shares but have been following the project since before it publicly launched.

Finally, every single person who works for Banx is public about their identity. Why have you created a new account to make a scam accusation?  Seems strange to me.  Why not use your main BCT identity?

THIS COIN IS SCAM BEFORE C-CEX PUBLIC MARKET CAN TRADE 

Whereas Ripple belongs at #2?  I guess you slept it on the day when coinmarketcap increased the listed available supply and manipulated their numbers.

https://bitcointalksearch.org/topic/proof-that-ripple-numbers-are-manipulated-by-coinmarketcap-there-is-no-boom-873067

This was a before and after.  Even the "before" was highly suspect, as that was counting Ripple Lab's premine which hasn't really been touched either.  In reality, the amount of Ripple being traded is less than 2% (2 billion) and based on that number Ripple's true position on coinmarketcap should #20-#25 ($1.8 million capitalization).

I think they are open about this...volume, price.. everything is artificial. But queston is can investor make money? Were people who bought one share for 1 USD able to sell now for 1.49?  

Do anyone know what is point of all of this? I remeber rather big brochure/white paper on how will Banx operate, But I still dont know what is it about, and what are they actually doing.

Yup.....one exchange, ran by the currency devs themselves. Not dodgy at all......

Thank you sir this is some excellent work.  I see numbers from time to time that make me scratch my head but I never had the initiative to investigate it myself.  We need more sleuths like you to keep the devs honest

Correct trading data now shown