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Author Topic: Are BanxShares as good as GAW Paycoin?  (Read 46776 times)
ByronP
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September 26, 2015, 02:02:39 PM
 #241

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.
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September 26, 2015, 02:04:19 PM
 #242

@runpaint get with it man!!!
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September 26, 2015, 02:06:28 PM
 #243

Im member of C-cex, im active trade at last year - some month ago
i see banxshares ICO, but im very confused, banxshares get delisted list whereas ICO is still running  Lips sealed
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September 26, 2015, 02:09:34 PM
 #244

but hey what do i know I'm just some nobody who doesn't know anything  Roll Eyes LOL
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September 26, 2015, 02:36:38 PM
 #245

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.

Thanks for the clarification, in my opinion it would make good sense to update the price at least more often, maybe whilst in IPO you could take the average BTC/USD over x days and update daily which would avoid big fluctuations but keep you with more relative price. A flat BANX/BTC price correlation could easily translate to potential investors (who should know that the BANX rate is pegged to USD) as a warning sign and a fixed upward trend with a fixed sale price even more so. It also means that if people are wanting to buy or sell (assuming they are trading BTC not fiat) they will have to carefully tie it in with the current bitcoin price trend which will be opposite for savvy buyers and sellers - I suspect that could be causing a reduced trading volume.
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September 26, 2015, 02:56:44 PM
 #246

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.

Thanks for the clarification, in my opinion it would make good sense to update the price at least more often, maybe whilst in IPO you could take the average BTC/USD over x days and update daily which would avoid big fluctuations but keep you with more relative price. A flat BANX/BTC price correlation could easily translate to potential investors (who should know that the BANX rate is pegged to USD) as a warning sign and a fixed upward trend with a fixed sale price even more so. It also means that if people are wanting to buy or sell (assuming they are trading BTC not fiat) they will have to carefully tie it in with the current bitcoin price trend which will be opposite for savvy buyers and sellers - I suspect that could be causing a reduced trading volume.

I agree and will bring this up with Mark. Thank You
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September 26, 2015, 03:25:29 PM
 #247

ohh and BTW Mr. runatthemouth an PIO is a Private Investment Opportunity. Very different thing than an IPO which your genius ass knows is an Initial Public Offering. As a side note you will notice that the I in IPO stands for initial whereas a company splits shares making more or buys back shares and creates less thus even a publicly traded company has an ever fluctuating market cap.

Also yes there are many classes you can take that relate to ICO's. First I would suggest you take a basic business course before getting into how financial markets work because you seem to be a tad bit lacking in many basic areas, especially for someone who seems to be a know it all.
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September 26, 2015, 04:32:32 PM
 #248


I agree and will bring this up with Mark. Thank You

Glad to be a help.

Just a thought, but I suspect you may come into a problem with my suggestion since I believe you are dropping sell orders if the ICO price increases above them. You might want to add an option for your traders to automatically increase and decrease their price as the BTC level changes and give them mix/max threshold limits to choose - similar logic to a trailing stop.
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September 26, 2015, 04:40:08 PM
 #249


ohh and BTW Mr. runatthemouth an PIO is a Private Investment Opportunity. Very different thing than an IPO



But you just said:



4. Yes, it's called an ICO/PIO.



Are you saying there's a significant difference between an IPO and an ICO?

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September 26, 2015, 04:57:20 PM
 #250





Again, this is intended to make Mark Lyford look bad by quoting his own comments.

Just because BanxShares is being marketed as a rags-to-riches, back-to-rags, then back-to-riches success story of Mark Lyford, and just because he publicly talked about using that as a fake marketing story, several years ago, that doesn't prove anything.

wow that's pretty damning

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ByronP
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September 26, 2015, 05:07:23 PM
 #251





Again, this is intended to make Mark Lyford look bad by quoting his own comments.

Just because BanxShares is being marketed as a rags-to-riches, back-to-rags, then back-to-riches success story of Mark Lyford, and just because he publicly talked about using that as a fake marketing story, several years ago, that doesn't prove anything.

wow that's pretty damning

How is that damning? He is asking if it's better to to keep quiet or be very open, or at least thats how I read it.
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September 26, 2015, 05:08:53 PM
 #252


ohh and BTW Mr. runatthemouth an PIO is a Private Investment Opportunity. Very different thing than an IPO



But you just said:



4. Yes, it's called an ICO/PIO.



Are you saying there's a significant difference between an IPO and an ICO?

Yes they are very different. With an IPO you actually own a piece of the company. Read a basic investing book man.
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September 26, 2015, 05:10:08 PM
 #253


I agree and will bring this up with Mark. Thank You

Glad to be a help.

Just a thought, but I suspect you may come into a problem with my suggestion since I believe you are dropping sell orders if the ICO price increases above them. You might want to add an option for your traders to automatically increase and decrease their price as the BTC level changes and give them mix/max threshold limits to choose - similar logic to a trailing stop.

Ya I thought about that not sure how to handle it. Good suggestion on limits though. It's something I want to bring to the exchange anyway so it might be the solution.
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September 26, 2015, 05:18:20 PM
 #254

@runpaint. as I have said in your other thread I'm done with you. I have offered you everything I can including face to face meeting and all you have done it play games. You ability to ignore things I post and keep quoting other things that you take out of context or twist is tiring.

I have too much going on in my life to be putting any more time into you. You do and say what you want. As you can see I have my supporters, you have yours, but there have had people who are not Banx holders saying you have demonstrated what you are really like during our interactions (DE too) so I feel I have put the right amount of energy trying to work with you. I've gone above and beyond compared to any other crypto company owner I know.

If people hold Banx thats because they want to. Anyone can do their own research, speak to me direct and make up their own mind. As I have said before people either like me and what we are doing or they don't. It's a pretty simple thing to grasp for most.

So, have a great weekend, keep on trolling as much as you want. I'm done with you and your pathetic agendas.

All the best

Mark

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September 26, 2015, 05:19:18 PM
 #255


I agree and will bring this up with Mark. Thank You

Glad to be a help.

Just a thought, but I suspect you may come into a problem with my suggestion since I believe you are dropping sell orders if the ICO price increases above them. You might want to add an option for your traders to automatically increase and decrease their price as the BTC level changes and give them mix/max threshold limits to choose - similar logic to a trailing stop.

Ya I thought about that not sure how to handle it. Good suggestion on limits though. It's something I want to bring to the exchange anyway so it might be the solution.

I like this idea. I would like to implement it if we can Byron Smiley
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September 26, 2015, 06:56:48 PM
 #256


ohh and BTW Mr. runatthemouth an PIO is a Private Investment Opportunity. Very different thing than an IPO



But you just said:



4. Yes, it's called an ICO/PIO.



Are you saying there's a significant difference between an IPO and an ICO?

Yes they are very different. With an IPO you actually own a piece of the company. Read a basic investing book man.



Read what your own company is doing.



Do I understand right that banx coins are actually banx shares of company?

yes banx shares are a share in the Banx capital company Smiley



So, according to your definition of IPO combined with Mark's definition of BanxShares, it's an IPO.  But you also said it's an ICO/PIO, and that it's completely different from an IPO.  But it pays dividends;  it's an unregistered security.

You're selling SHARES.  Have you read the name of the thing you're selling?  BanxSHARES.

And ICO is either an Initial Coin Offering - which is the same as an IPO - or it's an Initial Crowdfunding Offering.  Either way, it can't be a Private Investment, since a Crowd is not Private. 

So you either don't know what you're talking about, or you're a liar.  Which is it?

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September 26, 2015, 07:07:33 PM
 #257

@runpaint. as I have said in your other thread I'm done with you.


As I have said in the other thread, sod off.  Nobody asked you here in the first place, so there's no need to announce that you're leaving.  You can just leave.  Nobody cares.




Quote
I have offered you everything I can


Except for straight answers.  But like you said, you offered what you can.  That doesn't include straight answers, because your business model doesn't allow you to be honest.



Quote
You ability to ignore things I post and keep quoting other things


Have you ever heard of "projection"?  I posted an entire play-by-play analysis of the history of your company, and you just showed up and said "Whatever, who cares."

Then you came back, over and over, just to say that you're not going to say anything. 

You continually change the subject and try to confuse the issues to provide a distraction from the facts.


 
Quote
I have too much going on in my life to be putting any more time into you.


If that was true, you would just go do those things instead of talking about it.  I never asked for any of your time - you've gone out of your way to take up as much time here as you could.




Quote
I've gone above and beyond compared to any other crypto company owner I know.


Real crypto doesn't have company owners.   




Quote
If people hold Banx thats because they want to. Anyone can do their own research


I did my own research.  If people think Banx is one step away from outright theft, that's because they want to think that. 



Quote
speak to me direct and make up their own mind.


No one needs to speak to you to make up their own mind.



Quote
As I have said before people either like me and what we are doing or they don't. It's a pretty simple thing to grasp for most.


And yet you can't grasp the same concept.  Either you like what I'm doing here or you don't. 

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September 26, 2015, 07:43:18 PM
 #258

I an not a banx investor.  I am a bitshares guy, and was interested in lottoshares, and was actually a little concerned about banx involvement since I had seen the beginning of this thread.  After reading through yesterday's fun, I feel much more comfortable with banx.  I'm still not sure if I'll buy into lottoshares, but if I don't it will not because of a fear of Banx.

Runpaint you have shown yourself to be a juvenile internet warrior.  After this I doubt I will ever take anything you say seriously.  Which is sad, because you could probably provide some value somewhere. 

When I saw you whining on polo about buying pts, I actually felt kinda bad for you.  It would suck if someone hadn't done any basic homework and had lost money because they had based their decisions on outdated information.  After seeing how you have used the permanent nature of the internet and the vagaries of the human language to completely distort what has happened in this thread I no longer believe anything you have said. 

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September 26, 2015, 08:01:19 PM
Last edit: September 26, 2015, 08:14:19 PM by runpaint
 #259


When I saw you whining on polo about buying pts, I actually felt kinda bad for you.  It would suck if someone hadn't done any basic homework and had lost money because they had based their decisions on outdated information.






So, if I acquire more PTS, it will still count towards the future DAC's(minus BTSX)?





This is damned exciting.  This dac is one of the first things that attracted me to bitshares. 




You bought BitShares PTS because you thought BitShares DNS was going to be big, and now you're trying to shit on me for being fooled by BitShares.

How many weeks did BitShares DNS exist? 


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September 26, 2015, 09:59:07 PM
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When I saw you whining on polo about buying pts, I actually felt kinda bad for you.  It would suck if someone hadn't done any basic homework and had lost money because they had based their decisions on outdated information.






So, if I acquire more PTS, it will still count towards the future DAC's(minus BTSX)?





This is damned exciting.  This dac is one of the first things that attracted me to bitshares. 




You bought BitShares PTS because you thought BitShares DNS was going to be big, and now you're trying to shit on me for being fooled by BitShares.

How many weeks did BitShares DNS exist? 



Okay.  Lets start with your quote from July of last year.  You didn't actually quote me correctly.  You quoted the person that I responded to.  The full quote is below.
What's the difference between BTS X vs BTS XT? Or are they the same product? Where are the other DAC's?

If any newly mined PTS, will that get more BTS X or was that only for the Feb 28th snapshot only?

X is the official chain.  XT is the test network.  There was some talk of naming a stripped down chain designed to do nothing other than get the 2-28 snapshot liquid, XT.  Newly mined PTS will not get you any BTSX, but there are more DACS coming. 

So, if I acquire more PTS, it will still count towards the future DAC's(minus BTSX)?

Correct. 

As you can see I was responding to someone with questions and answering that question in the moment.  Their question was "So, if I acquire more PTS, it will still count towards the future DAC's(minus BTSX)?  You will notice that they did not say

"if I acquire more PTS, right now or in the near future, and assuming that nothing untoward happens such as nuclear war, civil war, meteorite strikes, supervolcanos, marshal law, and or any other world shattering disaster, or act of god then it will still count towards the future dacs.(minus BTSX)? and can you promise that this is the case and will never change."

 Of course they wouldn't say that.  All of those things are implied in the question.  My response "Correct"  Also did not contain any of the myriad of possible things that could prevent PTS from being used as a snapshot.  My words were true when they were said, even though they did not contain a disclaimer about all possible outcomes.  I was attempting to communicate with speeddemon, and I believe successfully did so.  Whats more PTS purchased at that time was in fact used as a snapshot.  My words were true and if speeddemon had listened to me and purchased pts he would now own bts, notes, and soon to be identabits (I have probably forgotten a sharedrop target)  If someone reads this response 14 months later and doesn't check to ensure this is still true then it is their fault for not doing their own due dilligence.

In regards to DNS, It is one of the main things that initially attracted me to bitshares.  I still think using centralized systems that are not censorship resistant is a huge threat to our security and safety.  I am still hoping that someone will solve this issue in a more satisfactory way than namecoin has.  That is a far cry from

You bought BitShares PTS because you thought BitShares DNS was going to be big, and now you're trying to shit on me for being fooled by BitShares.



This quote is demonstrably false runpaint.  Why did you lie runpaint?

I hope this exercise will demonstrate why your method of pulling up ancient quotes out of context is a dirty trick that should not be directly responded to.  It takes far more time to respond to these attacks than to carry them out.  Even when the attack is ill formed, and weak.  If you would like your system of attacking to be more effective in the future I would suggest you only quote old things, and never respond directly runpaint.  It was your responses and gross misrepresentation of what happened in this thread that led me to stop taking you seriously.  The problem with negative attack ads is that the viewer can end up taking a negative view of the attacker instead. 
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