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Title: Issue resolved. Post by: poloskarted on June 17, 2015, 02:39:51 AM Correct trading data now shown
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: jeannemadrigal2 on June 17, 2015, 02:51:25 AM 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 ;)
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 17, 2015, 06:54:40 AM Yup.....one exchange, ran by the currency devs themselves. Not dodgy at all...... ;D
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: cryptonikus on June 17, 2015, 08:09:44 AM 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: TaunSew on June 17, 2015, 08:16:11 AM 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://bitcointalk.org/index.php?topic=873067.0 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). Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: trinaldao on June 17, 2015, 08:19:19 AM THIS COIN IS SCAM BEFORE C-CEX PUBLIC MARKET CAN TRADE ;D
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: stonehedge on June 17, 2015, 09:07:35 AM 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? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: SockPuppetAccount on June 17, 2015, 09:17:45 AM 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? So it's not a coin, it's an unlicensed security. Yet another red flag that should tell you to stay away. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: Netnox on June 17, 2015, 09:35:33 AM There are so many useless coins that don't deserve to be at the top of coinmarketcap.
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: stonehedge on June 17, 2015, 10:25:41 AM 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? So it's not a coin, it's an unlicensed security. Yet another red flag that should tell you to stay away. As far as I know, there is no requirement to have a licence to sell shares in your business in the UK. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 17, 2015, 12:42:12 PM 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 Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 17, 2015, 12:45:30 PM 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? I appreciate your comments , especially the last one about setting up a new account Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 17, 2015, 12:46:59 PM 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? So it's not a coin, it's an unlicensed security. Yet another red flag that should tell you to stay away. As far as I know, there is no requirement to have a licence to sell shares in your business in the UK. 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 Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: SockPuppetAccount on June 17, 2015, 02:43:49 PM 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.
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: poloskarted on June 17, 2015, 05:09:09 PM 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. 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 $10 million USD), again as reported by CMC http://coinmarketcap.com/currencies/banxshares/ Here is their exchange, with a single buy order https://banx.io/trade?c=BANX&p=BTC Here is the trade volume https://www.banx.io/SimpleAPI?a=orderbook&c=BANX&p=BTC mirror here (http://justpaste.it/ltf1) The numbers clearly don't add up. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: JackRipper on June 17, 2015, 07:24:37 PM We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase. We expect this will change in the future, but it is really up to third parties. Since you're a security rather than a coin, you're going to find it difficult getting listed on an US exchanges such as Bittrex, Cryptsy, or Poloniex. They are not licensed to trade securities and would open themselves up to some serious legal problems if they listed you. I don't know about the rest of the world, but many countries have similar securities laws as the U.S., so you may be facing an uphill battle. Good luck. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: stonehedge on June 18, 2015, 07:05:56 AM Does this coin have a distributed ledger? Is anybody running a node? What is the blocktime/size specs on this. I think I missed the [ANN]thread Its not a coin therefore mining specs are irrelevant. Here is the ANN thread: https://bitcointalk.org/index.php?topic=813191.0 Read the prospectus if you want a full understanding of Banx http://banxcapital.s3.amazonaws.com/Banx_Capital_Prospectus.pdf Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: SockPuppetAccount on June 18, 2015, 08:07:55 AM The coinmarketcap photo in the original post shows nearly 15,000$ 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. 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. 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: StanLarimer on June 18, 2015, 02:16:13 PM 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: stonehedge on June 18, 2015, 05:51:01 PM 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. Correct, Banxshares is most definitely not a scam. Conducting business with Banxshares may currently require a level of human trust that is foreign to those of us accustomed to reserving our trust for immutable ledger blockchain-based businesses, however, I'm sure that you can trust that the good people behind Banxshares are not selling you a fractionally reserved product. Exactly which part of their business is anchored by an immutable ledger is unclear at this point, however, I'm sure that they are planning on integrating Satoshi's invention into their accounting soon because why else would coinmarketcap publish their marketcap? 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.... Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 18, 2015, 05:56:35 PM 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 ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 18, 2015, 06:13:03 PM 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 ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: StanLarimer on June 18, 2015, 06:18:37 PM What a coincidence!
Max Wright just released this interview with Dan Larimer on User Issued Assets! User Issued Assets (https://www.youtube.com/watch?v=7fwwxwbC6P0&feature=youtu.be&list=PLjgfpSQFJTLoR_CpYDBZMQ8hUSxKSflAF) A detailed written explanation can be found here: https://bitshares.org/technology/user-issued-assets/ (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. Just like all the cool things you can do with plutonium. 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 18, 2015, 06:29:39 PM 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! Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: StanLarimer on June 18, 2015, 06:30:30 PM Just for a laugh, decided to run the numbers. 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 ? 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 (https://www.youtube.com/watch?v=7fwwxwbC6P0&list=PLjgfpSQFJTLoR_CpYDBZMQ8hUSxKSflAF&index=1) clip again and again until... Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: StanLarimer on June 18, 2015, 06:33:24 PM 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! 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 18, 2015, 06:52:00 PM Just for a laugh, decided to run the numbers. 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 ? 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. 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: ðºÞæ on June 18, 2015, 07:15:42 PM Just for a laugh, decided to run the numbers. same fakery as xrp, except ripple guys are more professionalTaken 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 ? https://i.imgur.com/yxIFa0q.png Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 18, 2015, 08:27:39 PM 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 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. :D Curiouser and curiouser. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: DecentralizeEconomics on June 18, 2015, 08:46:56 PM 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. What a coincidence! Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: TaunSew on June 18, 2015, 09:31:28 PM 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! 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. :o Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 18, 2015, 10:25:58 PM 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 ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: ByronP on June 19, 2015, 12:14:48 AM 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: ByronP on June 19, 2015, 12:17:08 AM 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! 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. :o 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: ByronP on June 19, 2015, 12:21:35 AM 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 ? 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. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: poloskarted on June 19, 2015, 07:42:48 AM 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. 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. Quote As part of our ongoing plan to improve services, we require all investors in Banx shares to transfer all shares held to Banx.io exchange no later than the 28th of November 2014. As part of our continuing effort to improve Banx Capital services, maintenance is scheduled to begin on the Banx Shares wallet which will involve wallet modification and upgrade to the existing wallet technology. These are mandatory updates. This maintenance will require a hard fork of the wallet code, so please be advised that all outstanding shares not deposited on the exchange by the 28th of November are at risk of becoming invalid shares as future wallets will not be compatible with the current wallets. While the upgrades are being implemented all withdrawals and deposits of Banx Shares will be disabled to prevent complications arising from the new updates. Please be advised that until testing of the new wallet code is conducted and the results are within expectation to a satisfactory standard, no fixed date is set for the conclusion of these pending updates. Just for a laugh, decided to run the numbers. 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 ? 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. 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. Exactly my point. Thank you. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 19, 2015, 08:28:16 AM 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 ? 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. We've shown you the 'error' in Banxshares trading volume: the numbers from Banx.io (the only trading platform for BANX) and the numbers from CMC.com do not match up. And we're not talking about a small error, either. The reported trading on CMC ( $15,000) is approximately 5 times higher than the trading shown on Banx.io ( $3000). If Banxshares is a legitimate project, I'd expect them to take a look at this issue, figure out where the problem lies, then correct it and issue a sane statement. (that's a hint, btw) If they are a scam.....I'd expect some defensive BS and a complete lack of action. Code: Numbers for today: Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: claycoins on June 19, 2015, 08:57:08 AM This started off as a cryptocurrency, now it is nothing but numbers on a webpage.
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: Crystalicus on June 19, 2015, 09:08:17 AM I think that the market is already full of coins with a 100% premine that always end with 100% fraud. Just look at paycoin or auroracoin or other crap with an asterisk * or ** on the site http://coinmarketcap.com But if you want to lose your money, you can safely buy it 8)
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: timmyd on June 19, 2015, 05:43:10 PM Has anyone actually been scammed here? Because if your saying something is a scam you should be 100% sure it is before creating a thread about it. Technically slander.
Want to here my experience with banx? I have been a profit share holder since november 2014. And every month i have recieved my dividends from the profits banx has made. No one is or has been scammed. If you are unsure of what banx is and what banx has planned for the future instead of creating scam threads speak to mark or any of the team. You will not find a more transparent crypto company anywhere other than banx. Ive been a part of this for a while now ive seen it grow ive seen the problems ive seen the problems resolved ive been involved in the skype group we have with lots of inteligent people onboard. I just hate it when someone is actually trying to make something good here and you guys come along and slander it. Its not on at all. Banx is not even comparable to 99% of the shite that is on this forum. Tbh im lucky that mark actually decided to offer shares on this forum or i would have missed the opportunity. Banx is not interested in winning any of you guys over you .make your own minds up. Banx is focussing on bringing fresh new people into crypto which is a good thing for all projects here in this crypto world weve all created. This company has been built from the ground up the offices are 2hrs away from me and they are very real just like all the people who have shown face. Marks even done videos in the office showing you everyone working away. I dont know what more he can do. Its ultimatley up to you guys to use your inititive to get involved or not. But take it from me banx is the real deal and im looking forward to whats lined up. Come join us in the skype group ask mark the questions u want asnswering get involved. But please dont be trollish and create scam threads especially when you have no proof of a scam you just sound silly. Peace Editied for spellings Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: TrueCryptonaire on June 19, 2015, 07:16:22 PM I've made nice ROI on trading with these shares some time ago so I can't complain.
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: ByronP on June 19, 2015, 09:34:24 PM 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 ? 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. We've shown you the 'error' in Banxshares trading volume: the numbers from Banx.io (the only trading platform for BANX) and the numbers from CMC.com do not match up. And we're not talking about a small error, either. The reported trading on CMC ( $15,000) is approximately 5 times higher than the trading shown on Banx.io ( $3000). If Banxshares is a legitimate project, I'd expect them to take a look at this issue, figure out where the problem lies, then correct it and issue a sane statement. (that's a hint, btw) If they are a scam.....I'd expect some defensive BS and a complete lack of action. ... Yes showing me there is an error somewhere and calling something a scam are 2 totally different things... The exchange may say Banx on it but it is still me writing the code and running it of which history has shown I don't play games and would not have anything to do with any company that is just out for a dollar. So in response I open the following document http://cdn.banx.io/bioersl/open/Error_Report_1618151_177_C21_0_2.pdf Once there is a status update I will let you know. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 20, 2015, 12:22:31 AM @ByronP
Thanks for the update and the action. Look forward to hearing your results. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: waterpile on June 20, 2015, 04:31:59 AM Actually i'm getting my dividends right on time.. no problem and delays what so ever.. If you really believe that its a scam you can stay away from it..
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: montaga on June 20, 2015, 04:59:27 AM Quote Today I look on the coinmarketcap website............. Dont look at coinmarketcap, better sites are available. coinmarketcap is known to have accepted bribes to help one or the other coin.marketcap is a useless number anyway, is anyone seriously believing xrp's are worth over 10000 times more than dogecoins with roughly the same total supply? lol Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: DecentralizeEconomics on June 20, 2015, 07:05:21 AM Has anyone actually been scammed here? Because if your saying something is a scam you should be 100% sure it is before creating a thread about it. Technically slander. It's not "slander" if it's true. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: timmyd on June 20, 2015, 07:16:50 AM Has anyone actually been scammed here? Because if your saying something is a scam you should be 100% sure it is before creating a thread about it. Technically slander. It's not "slander" if it's true. Correct pal. And its not true Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 23, 2015, 02:18:11 PM Banx Update - Banx Capital Joins the BitShares Exchange Network >>
http://banxcapital.com/banx-update-banx-capital-joins-the-bitshares-exchange-network/ (http://banxcapital.com/banx-update-banx-capital-joins-the-bitshares-exchange-network/) Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: poloskarted on June 23, 2015, 06:14:21 PM Banx Update - Banx Capital Joins the BitShares Exchange Network >> http://banxcapital.com/banx-update-banx-capital-joins-the-bitshares-exchange-network/ (http://banxcapital.com/banx-update-banx-capital-joins-the-bitshares-exchange-network/) Ah that explains stan's shilling A sensible move. at least the fraudulent trading data can be addressed, and the asset will show it's true market value a little more unrestricted than just increasing the value on a database every often. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 23, 2015, 07:13:05 PM *rolls eyeballs*
I'm just..something....shit, I've forgotten me words :o I'll be back innna bit if I ever stop ROFLing. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 23, 2015, 07:53:36 PM Just took a look at the numbers, precisely the same issue as last week:
Total 24 hour volume according to CMC is 56 BTC / $13,833: http://i59.tinypic.com/15yzx38.jpg and the total 24 hour volume on the only exchange trading BANX/BTC is 11.36 BTC / $ 2783: https://banx.io/trade?c=BANX&p=BTC Code: 83875 Buy 0.00671000 107.00000000 0.71797000 Jun 23, 2015 8:33 PM I'd still love to hear an explanation for this, even if it's as simple as "Oh, Banx.io doesn't actually show the full trade history, mate" Anyone ? I've seen enough BS in this topic so far, so lets just figure out the numbers first before we draw any conclusions. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: poloskarted on June 23, 2015, 09:15:35 PM Just took a look at the numbers, precisely the same issue as last week: Total 24 hour volume according to CMC is 56 BTC / $13,833: http://i59.tinypic.com/15yzx38.jpg and the total 24 hour volume on the only exchange trading BANX/BTC is 11.36 BTC / $ 2783: https://banx.io/trade?c=BANX&p=BTC Code: 83875 Buy 0.00671000 107.00000000 0.71797000 Jun 23, 2015 8:33 PM I'd still love to hear an explanation for this, even if it's as simple as "Oh, Banx.io doesn't actually show the full trade history, mate" Anyone ? I've seen enough BS in this topic so far, so lets just figure out the numbers first before we draw any conclusions. You and I seem like the only ones who care, Stan has already turned this into a PR campaign for bitshares; with pretty the only respondents in the thread himsef, his sockpuppet account 'bitcoinjesus' and mark (Banx scheme mastermind) Even though you've put the information in the open, clear as day no doubt it will be ignored, or explained away as an unintentional accounting glitch rather than willfull fraud. And the altcoin world keeps spinning wonky as usual Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: TaunSew on June 23, 2015, 09:30:05 PM NxT is so obsessed with sockpuppets? Why? Is it because CfB owns 400 million NxT? :o
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 23, 2015, 10:24:36 PM back to ROFLing......
@TS and btcj Seriously, guys, wtf ? I raise one simple frigging piece of basic math, and then get to watch you two either avoid the point completely or shill more BTS gibberish. Stylish, lads, way to promote BTS. To paraphrase Stan: it's not rocket science. One number is much bigger than the other number. Both numbers should be the same. Something is wrong. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 23, 2015, 10:54:55 PM ROFling again......you're right :D
I do seem to be one of not very many people who give a monkeys f**k about this. Sad, isn't it ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: smooth on June 23, 2015, 11:05:39 PM Posted about this on the CMC thread. Let's see what they say:
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 23, 2015, 11:14:09 PM ByronP has already said he is addressing the error issue on the exchange. And he will.
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 23, 2015, 11:16:52 PM @poloskarted you have'nt addressed the issue of why you are not using your real BCT account? Something to hide ?
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 23, 2015, 11:17:50 PM 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 ? 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. We've shown you the 'error' in Banxshares trading volume: the numbers from Banx.io (the only trading platform for BANX) and the numbers from CMC.com do not match up. And we're not talking about a small error, either. The reported trading on CMC ( $15,000) is approximately 5 times higher than the trading shown on Banx.io ( $3000). If Banxshares is a legitimate project, I'd expect them to take a look at this issue, figure out where the problem lies, then correct it and issue a sane statement. (that's a hint, btw) If they are a scam.....I'd expect some defensive BS and a complete lack of action. ... Yes showing me there is an error somewhere and calling something a scam are 2 totally different things... The exchange may say Banx on it but it is still me writing the code and running it of which history has shown I don't play games and would not have anything to do with any company that is just out for a dollar. So in response I open the following document http://cdn.banx.io/bioersl/open/Error_Report_1618151_177_C21_0_2.pdf Once there is a status update I will let you know. I refer you both to this post from ByronP ^^ Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 24, 2015, 09:44:08 PM Swift kick.......love the [ANN], btw:
https://bitcointalk.org/index.php?topic=1097350.0 Any actual news to report ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: Gliss on June 25, 2015, 12:25:15 AM thanks @poloskarted for pointing me to this thread.
It seems that ByronP has corrected the mistake on the API endpoint. I'll make sure the volume history data on CMC is adjusted accordingly. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: StanLarimer on June 25, 2015, 12:56:40 AM Swift kick.......love the [ANN], btw: https://bitcointalk.org/index.php?topic=1097350.0 Any actual news to report ? Seeing two Top Ten assets share one industrial grade blockchain: Nice! Seeing four exchanges partnering to produce a market bigger than their individual stovepipes: Very Nice! Realizing that your own coin or exchange is welcome to join the same party: Priceless! Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: poloskarted on June 25, 2015, 05:03:24 AM thanks @poloskarted for pointing me to this thread. It seems that ByronP has corrected the mistake on the API endpoint. I'll make sure the volume history data on CMC is adjusted accordingly. Good to see. Thanks for the swift action, it gives some faith to your ability to address community concerns. Will be keeping one eye on it's transition to the rightful crypto-assets section once it's finds a home on stan's sturdy food grade bitshares platform , as he posted earlier and perhaps another keen eye on the banx charts inevitable slope downward when a free market does what free markets do, and decides the logical worth for things given time... and crucially, the ability to sell as well as buy Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: SuicidalTendencies on June 25, 2015, 07:07:40 AM Always compare a coin you going to invest in to guldencoin, guldencoin is more useful then 99% of the alts and sitting at 90 something on coinmarketcap. I always use guldencoin as my base to see if another coin is under or over valued, then again I am a long term investor in cryptos , making quick money is not a requirement for me.
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 25, 2015, 08:02:21 AM thanks @poloskarted for pointing me to this thread. It seems that ByronP has corrected the mistake on the API endpoint. I'll make sure the volume history data on CMC is adjusted accordingly. Ta-da! The numbers actually match up: 19BTC / $4700 everywhere I look: Code: 83954 Buy 0.00671000 386.77338308 2.59524940 Jun 25, 2015 8:53 AM from Banx.io trade history....and here on CMC: http://coinmarketcap.com/currencies/banxshares/#markets Trading volume problem solved. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 25, 2015, 10:19:01 AM Coinmarketcap will soon list BANX among the other "cryptoassets" because that is exactly what it is. Therefore, it is not a "scam" but a "listing error" that will be corrected. I have spoken with Gliss at CMC about this and when Banx Shares move to the Bitshares blockchain they will be then classed as an asset. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 25, 2015, 10:23:35 AM thanks @poloskarted for pointing me to this thread. It seems that ByronP has corrected the mistake on the API endpoint. I'll make sure the volume history data on CMC is adjusted accordingly. Good to see. Thanks for the swift action, it gives some faith to your ability to address community concerns. Will be keeping one eye on it's transition to the rightful crypto-assets section once it's finds a home on stan's sturdy food grade bitshares platform , as he posted earlier and perhaps another keen eye on the banx charts inevitable slope downward when a free market does what free markets do, and decides the logical worth for things given time... and crucially, the ability to sell as well as buy So you know we ByronP and I addressed the issue directly with Gliss last week. Like I have said before we are here for the longer term plan. Your comment re the free market are correct. i am all about a free market, but I am also about getting the remainder of our shares sold to private investors so that we can scale and make the different phases of our plans a reality. Can I assume that you are now happy and we can draw a line under this? Maybe even you could correct the subject of this thread and acknowledge there is no scam? Or maybe even reveal who you actually are too ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 25, 2015, 10:24:57 AM @EvilDave - glad you are happy with our resolution and response :)
Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: poloskarted on June 25, 2015, 12:17:26 PM thanks @poloskarted for pointing me to this thread. It seems that ByronP has corrected the mistake on the API endpoint. I'll make sure the volume history data on CMC is adjusted accordingly. Good to see. Thanks for the swift action, it gives some faith to your ability to address community concerns. Will be keeping one eye on it's transition to the rightful crypto-assets section once it's finds a home on stan's sturdy food grade bitshares platform , as he posted earlier and perhaps another keen eye on the banx charts inevitable slope downward when a free market does what free markets do, and decides the logical worth for things given time... and crucially, the ability to sell as well as buy So you know we ByronP and I addressed the issue directly with Gliss last week. Like I have said before we are here for the longer term plan. Your comment re the free market are correct. i am all about a free market, but I am also about getting the remainder of our shares sold to private investors so that we can scale and make the different phases of our plans a reality. Can I assume that you are now happy and we can draw a line under this? Maybe even you could correct the subject of this thread and acknowledge there is no scam? Or maybe even reveal who you actually are too ? I have corrected the thread title. As far as who I am goes, I am just a passive observer in the markets- I have no significant biases against your project aside from noticing an inconsistency which I felt indicated either a) some level of deception or b) a genuine error, either way I felt it's important for market participants to be exposed to correct, non-inflated trading data in order to make sound investment decisions. I don't particularly feel your project is worthy of it's $10 million dollar valuation but I certainly have nothing against you for getting out there and making your vision come to life, and I at least appreciate the fact you have shown up to address concerns. I am happy with the fix and we can draw a line under this. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: EvilDave on June 25, 2015, 01:42:40 PM @EvilDave - glad you are happy with our resolution and response :) Yup, I'm happy that it's resolved, any idea what the cause of the problem was ? Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 25, 2015, 09:23:30 PM @EvilDave - glad you are happy with our resolution and response :) Yup, I'm happy that it's resolved, any idea what the cause of the problem was ? Too technical for me ByronP resolved it :) Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: MarkLyford on June 25, 2015, 09:24:26 PM thanks @poloskarted for pointing me to this thread. It seems that ByronP has corrected the mistake on the API endpoint. I'll make sure the volume history data on CMC is adjusted accordingly. Good to see. Thanks for the swift action, it gives some faith to your ability to address community concerns. Will be keeping one eye on it's transition to the rightful crypto-assets section once it's finds a home on stan's sturdy food grade bitshares platform , as he posted earlier and perhaps another keen eye on the banx charts inevitable slope downward when a free market does what free markets do, and decides the logical worth for things given time... and crucially, the ability to sell as well as buy So you know we ByronP and I addressed the issue directly with Gliss last week. Like I have said before we are here for the longer term plan. Your comment re the free market are correct. i am all about a free market, but I am also about getting the remainder of our shares sold to private investors so that we can scale and make the different phases of our plans a reality. Can I assume that you are now happy and we can draw a line under this? Maybe even you could correct the subject of this thread and acknowledge there is no scam? Or maybe even reveal who you actually are too ? I have corrected the thread title. As far as who I am goes, I am just a passive observer in the markets- I have no significant biases against your project aside from noticing an inconsistency which I felt indicated either a) some level of deception or b) a genuine error, either way I felt it's important for market participants to be exposed to correct, non-inflated trading data in order to make sound investment decisions. I don't particularly feel your project is worthy of it's $10 million dollar valuation but I certainly have nothing against you for getting out there and making your vision come to life, and I at least appreciate the fact you have shown up to address concerns. I am happy with the fix and we can draw a line under this. Thank you. Much appreciated. Title: Re: Issue resolved. Post by: ByronP on June 27, 2015, 02:05:03 AM In order to accommodate the traffic on the http api the in memory cache had to be changed some coins would create multiple entries and in the end wind up having inconsistent data. The cache used by the WSSR api is a separate system and was not affected by this bug. There are 2-3 tiers of caching depending on what the data is and how imperative it is to be completely correct and if the data in the cache is not correct or is inserted more than 1 time multiple results will be returned with the same head resulting in inflated numbers.
ala: order 1, vol 1 order 1, vol 1 [call get order 1] order 1, vol 2 this is just an example to make it visual and not how the cache actually looks (if you could look at it) :-) So I hope that clears things up for everyone. Any questions please feel free to contact me. Title: Re: Banxshare scam.. Fake market cap coinmarket Post by: runpaint on September 16, 2015, 03:44:06 PM New topic about Banxshares and some unanswered questions:
https://bitcointalk.org/index.php?topic=1181883.0 Title: Re: Issue resolved. Post by: EvilDave on October 08, 2015, 11:32:48 PM I've just noticed that the most annoying BTS shill ever, Bitcoinjesus, seems to have deleted all of his posts here......wonder why ?
Still, I did find one: 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. Correct, Banxshares is most definitely not a scam. Conducting business with Banxshares may currently require a level of human trust that is foreign to those of us accustomed to reserving our trust for immutable ledger blockchain-based businesses, however, I'm sure that you can trust that the good people behind Banxshares are not selling you a fractionally reserved product. Exactly which part of their business is anchored by an immutable ledger is unclear at this point, however, I'm sure that they are planning on integrating Satoshi's invention into their accounting soon because why else would coinmarketcap publish their marketcap? 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.... Hmmm....I am back to ROFLíng for a while. Title: Re: Issue resolved. Post by: EvilDave on October 08, 2015, 11:36:26 PM And, just in case, here's a selection of Stan quotes from this thread for posterity:
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. What a coincidence! *************************************************************************Max Wright just released this interview with Dan Larimer on User Issued Assets! User Issued Assets (https://www.youtube.com/watch?v=7fwwxwbC6P0&feature=youtu.be&list=PLjgfpSQFJTLoR_CpYDBZMQ8hUSxKSflAF) A detailed written explanation can be found here: https://bitshares.org/technology/user-issued-assets/ (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. Just like all the cool things you can do with plutonium. 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. 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 ? 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 (https://www.youtube.com/watch?v=7fwwxwbC6P0&list=PLjgfpSQFJTLoR_CpYDBZMQ8hUSxKSflAF&index=1) clip again and again until... Swift kick.......love the [ANN], btw: https://bitcointalk.org/index.php?topic=1097350.0 Any actual news to report ? Seeing two Top Ten assets share one industrial grade blockchain: Nice! Seeing four exchanges partnering to produce a market bigger than their individual stovepipes: Very Nice! Realizing that your own coin or exchange is welcome to join the same party: Priceless! Yep, I like that. |
