Are BanxShares as good as GAW Paycoin?

[runpaint]

I'll ask C-CEX directly, see if they feel like sharing their side of the story.

And they did, here's the Skype log:

[0:28:34] C-CEX.com: Well, banx guy started his "project" with ICO on c-cex. But he started to push us not to allow sells below certain price. I responded that it is against free market idea and refused to do that

[0:29:37] C-CEX.com: after that he wanted to fake marketcaps and pushed me to fake real price of banx - I refused. Then he requested to remove banx from c-cex. Which happened a bit later in the natural way we have it for our customres (we gave 2 weeks for withdrawals)

This story doesn't blatantly contradict the known evidence, while Banx's story does.

[crypto jerk]

[tss]

yes.  they are just as good if not better taking your coin and turning it into less coin.  good luck to all involved.  ill see you all at the bottom of the toilet.

[stereotype]

[0:28:34] C-CEX.com: Well, banx guy started his "project" with ICO on c-cex. But he started to push us not to allow sells below certain price. I responded that it is against free market idea and refused to do that
[0:29:37] C-CEX.com: after that he wanted to fake marketcaps and pushed me to fake real price of banx - I refused. Then he requested to remove banx from c-cex. Which happened a bit later in the natural way we have it for our customres (we gave 2 weeks for withdrawals)
[0:29:57] C-CEX.com: I do not recommend to do any business with that guy

Fake fake fake. Right from the start. So then Mark/Byron/Simon then move on to deploying their buy-bot, on the order book for months. It was creating FAKE volume.

As i said nearly a year ago......wake up people, and start asking the right questions.
Here is the next question "you lot" need to start asking very quickly....
'@Mark/Simon/Byron. Can we see your holdings of Banx before Banx ports over to the open platform?'
If "you lot" dont nail Marks bollocks to the mast with this question, may god have mercy on your deluded souls, within the first 5 mins of open trading.

[EvilDave]

With perfect timing, just got this mail from Banx.io:

Hi There,

As a Banx.io user you know we are continuously developing our businesses and services. This week sees the launch of our latest blockchain based business! Lottoshares.com.

Lotto Shares runs a physical based lottery in the beautiful island of St Maarten in the caribbean. As part of our future expansion plans we will be rolling out the lottery to many other locations.

Owning Lotto Shares allows you to own a piece of the profits of this entire operation and fund its operation and growth.

Banx owns 25% of this business so as an existing Banx holder you are already involved but buying Lotto Shares allows you to directly benefit from this business even more.

See the article CoinTelegraph released yesterday about what we are doing:

http://cointelegraph.com/news/115335/lottoshares-worlds-first-physical-lottery-on-the-blockchain

Check out everything at LottoShares.com (Make sure you see the projections on the site, based on the trial two months done in April and May this is a profitable business!)

IMPORTANT:

Michael Taggart and I are running a webinar talking Lotto Shares later today to go over everything we are doing and answer any questions you may have. You can register for the Lotto Shares webinar here:

h***tps://attendee.gotowebinar.com/register/6796120223606940930

I look forward to you getting involved and seeing you on the webinar later.

Have a great day

Mark Lyford

CEO - The Banx Group

I have no idea if the registration link is legit, btw, I'm not clicking on anything from Banx.
ROFLing hard and walking away........

[timmyd]

Sign up dave its just a webinar. You will have a chance to ask questions in person. I also Recieved banx profit payouts, again very pleased with the roi so far.

[runpaint]

There is no reason to sell shares in a lottery that is already running and profitable.  What is the point, if they're not raising capital?  Why would a lottery need to raise capital by selling shares?

IF THE SHARES WERE PROFITABLE, THEY WOULD KEEP THEM ALL FOR THEMSELVES.  They obviously think it's a good idea to sell the shares now instead of waiting for "the profits". 

[timmyd]

I like the effort you have put in. But ccex doesnt have the best track record of a crypto exchange. Have you seen the amount of "ico" coins they offer which then die the day after release?

[timmyd]

Genuine question guys this is to all you here expressing your opinion of banx.
What are you investing in that is so brilliant atm?
I know dave is a nxt'er hes been in tht aslong as i can remember. Even if nxt has plummeted its still here
What about the rest of you? Wheres your money sat right now

[chryspano]

Genuine question guys this is to all you here expressing your opinion of banx.
What are you investing in that is so brilliant atm?
I know dave is a nxt'er hes been in tht aslong as i can remember. Even if nxt has plummeted its still here
What about the rest of you? Wheres your money sat right now

A troll's purpose on this forum is not to answer questions, any question asked to them in the past was just ignored or answered with a trollAnswer.

You are wasting your time in this thread and you are just feeding them.

[timmyd]

Genuine question guys this is to all you here expressing your opinion of banx.
What are you investing in that is so brilliant atm?
I know dave is a nxt'er hes been in tht aslong as i can remember. Even if nxt has plummeted its still here
What about the rest of you? Wheres your money sat right now

A troll's purpose on this forum is not to answer questions, any question asked to them in the past was just ignored or answered with a trollAnswer.

You are wasting your time in this thread and you are just feeding them.

Think i am wasting my time your right. They either do not wish to share their endevors which are 100% winners or they are simply not invested into anything and just like to voice their opinion on projects they have no interest in. You would think with the mindset of helping the bct community by "shouting" scam they would be able to point community memebers in the direction of a more suitable project.

[timmyd]

There is no reason to sell shares in a lottery that is already running and profitable.  What is the point, if they're not raising capital?  Why would a lottery need to raise capital by selling shares?

IF THE SHARES WERE PROFITABLE, THEY WOULD KEEP THEM ALL FOR THEMSELVES.  They obviously think it's a good idea to sell the shares now instead of waiting for "the profits". 

http://lottoshares.com/about-lottoshares-2/

[EvilDave]

In the cause of transparency, honesty and openness in crypto currency, etc.....I'm going to answer a few questions / explain some of my motivation here.
It would be nice if Mark/Banx could answer a few of mine in return......deal?

Genuine question guys this is to all you here expressing your opinion of banx.
What are you investing in that is so brilliant atm?
I know dave is a nxt'er hes been in tht aslong as i can remember. Even if nxt has plummeted its still here
What about the rest of you? Wheres your money sat right now

A troll's purpose on this forum is not to answer questions, any question asked to them in the past was just ignored or answered with a trollAnswer.

You are wasting your time in this thread and you are just feeding them.

Think i am wasting my time your right. They either do not wish to share their endevors which are 100% winners or they are simply not invested into anything and just like to voice their opinion on projects they have no interest in. You would think with the mindset of helping the bct community by "shouting" scam they would be able to point community memebers in the direction of a more suitable project.

Yep. NXT rules. And will rule.....but i'm not here to shill.
I came into crypto (like many others) as BTC started its MtGOX powered pump in Autumn 2013. I missed out on the NXT intial offer, btw.
I decided that BTC was not all that interesting, so started looking around for something better, and found NXT in Nov/Dec 2013....but before I got into NXT I checked out pretty much all of the crypto world using exactly the same due diligence procedure as I've used on Banx. I still check out new projects, and if something real comes along, I'm interested. So, If I thought Banx was genuinely good, it might be worth a go. But it's not.
I know that NXT isn't totally perfect (yet  ) but is an honest and genuinely useful project.
As for BTS....meh. I think it was a good project once, but has lost its way badly. I don't think badly of the BTS community, but I do have strong doubts about Dan 'n' Stan.
If I wanted to really hurt BTS, I'd just hold off and let them get deep into bed with Banx, then wait for the inevitable disaster.

I want to see honesty and transparency in crypto, just like it said on the box that Satoshi put it in. Every scam project is another bunch of investors that are burned on crypto, putting the adoption of all crypto currency back and giving the mainstream press yet another 'Bitcoin is a scam' story, not to mention all the misery caused by people losing their funds. And I really do not like scammers. At all.
I called Paycoin on being a scam the moment that the $20 buy wall was announced. They were promising something that was impossible in any real world scenario, and that was enough for me to conclude that Paycoin/GAW was dodgy as fuck. I'm good at this. I've also tortured a couple of prospective NXT projects with my due diligence routine.

Anyway...enough about me, let's talk about Banx for a while.
I've already had one run-in with them a few months ago:
https://bitcointalk.org/index.php?topic=1091855.msg11653489#msg11653489

And I was proved right. Completely, totally right. It took me 5 minutes to spot the falsification/error/bug/whatever in the Banx trade volume as reported to CMC, about 20 minutes to verify it solidly and a week of denial and stonewalling to get Banx to even admit that there was a problem.
So forgive me if I don't have much faith here........

I'm now seeing even worse problems with Banx, and I'm getting exactly the same response from everyone involved. Complete denial and a refusal to even look at the problems.


So that was me being as open as something that's fairly open.......now here are my 4 questions for today (and yesterday, and...);


Where does the revenue come from to pay out dividends to BanxShares holders ?

Could we see some form of accounts/balance sheets for any of the Banx group of companies ?

Banx must hold a large amount of BTC from its investors. Could they verify this ?
Where is your investors money ?

Banx.io has been accused of bot trading. I've offered to have the trading data analysed to examine this accusation.
Why can Banx not provide this data ? Commitment to openness, remember ?


If anyone has any more questions for me.......answer one of the above, with genuine, verifiable information to back it up, please.

[timmyd]

Question dave. Sorry its not ansewring any of yours because i dont have answers for those only being an investor and all.
I invested in nxt at the very beggining when it all started on a thread by a guy called bcnxt.
So my question is Would you have given bcnxt any money just from looking at the ann page? I did and it payed off. I have concluded to reapeat this process a couple of times with crypto investments. I could state i have a good track record with it. Banx was the same for me just an ann page at time of investment.
There is a link here to a replay of the lottoshares webinar if you didnt attend. Stuff like this is why invested in banx. Real world use of the blockchain.

http://linksfrom.us/lottoshares-replay.

[EvilDave]

Seeing as words don't seem to be getting through, thought I'd provide a video to explain my suspicions about Banx:

http://www.investopedia.com/terms/p/ponzischeme.asp



Where does the revenue come from to pay out Banx dividends ?

[timmyd]

maybe it comes from

Banx.io
Banxtrade
the bitcoin trading team
digitalmoneytimes
capfeed
banxmint
banxplatinum
Mining btc
lotto shares to be raking profits when up and running

And maybe the money taken in investments has actually been used to set these parts of the business up, who would have funked it eh

[EvilDave]

Yeah, but none of those businesses are making any visible profits.
Banx.io looks like the best of the lot, and it can't be delivering much more than $100 per day gross.
Show me some numbers, prove me wrong.

And, while we're at it: how come BanxShares price is totally unaffected by anything else that happens in crypto ?
I mean, BTS just tanked 17%, and Banx just keeps on rolling up :
http://coinmarketcap.com/currencies/banxshares/#charts

It's like you guys have invented cold fusion: a crypto currency/asset that only pumps, and never, ever dumps.

[timmyd]

Yeah, but none of those businesses are making any Visible profits.
Banx.io looks like the best of the lot, and it can't be delivering much more than $100 per day gross.
Show me some numbers, prove me wrong.

And, while we're at it: how come BanxShares price is totally unaffected by anything else that happens in crypto ?
I mean, BTS just tanked 17%, and Banx just keeps on rolling up :
http://coinmarketcap.com/currencies/banxshares/#charts

It's like you guys have invented cold fusion: a crypto currency/asset that only pumps, and never, ever dumps.

Just because there not visible to you dave doesnt mean there isnt any. Users of banx.io are selling shares at the current price of 0.0076 and people are buying those shares.

[runpaint]

maybe it comes from

Banx.io

According to CoinMarketCap.com, Banx.io only does $14 a day in volume apart from sales of BANX itself.  

So if the dividends are coming from the sales of BANX, and Banx is the only one selling BANX, then that's called a Ponzi scheme.  

Banxtrade
the bitcoin trading team
digitalmoneytimes
capfeed

But aren't these actually losing money?

banxmint

Yes, if you could convince people to pay you 2000% market rate for a Litecoin, that would be profitable.  And BanxMint does offer physical Litecoins for $46 each, which probably cost less than $2 including the 1LTC, the physical coin, and the packaging.  But once again it's about volume.

banxplatinum

BanxPlatinum costs $297 and gives 1250 BanxShares (advertised with the lie that Banx investors made 245% ROI in 1 year).  If that is being used to pay dividends, the dividends will stop as soon as people stop paying for BanxShares.  That's a Ponzi scheme, and it will fail 100% of the time.

Mining btc

There is very little profit in mining, and it's not profitable at all for most people unless they hold and the price goes up - in which case they should have just bought the bitcoins cheaper than mining them.

lotto shares to be raking profits when up and running

That doesn't have anything to do with the dividends that have already been paid.  

And maybe the money taken in investments has actually been used to set these parts of the business up, who would have funked it eh

The prospectus says 15% of all IPO money will be continually applied to BanxATM.

Mark Lyford has confirmed that the money is supposed to be spent as outlined in the prospectus.

There is only 1 ATM in operation.

[timmyd]

maybe it comes from

Banx.io

According to CoinMarketCap.com, Banx.io only does $14 a day in volume apart from sales of BANX itself.  

So if the dividends are coming from the sales of BANX, and Banx is the only one selling BANX, then that's called a Ponzi scheme.  

Banxtrade
the bitcoin trading team
digitalmoneytimes
capfeed

But aren't these actually losing money?

banxmint

Yes, if you could convince people to pay you 2000% market rate for a Litecoin, that would be profitable.  And BanxMint does offer physical Litecoins for $46 each, which probably cost less than $2 including the 1LTC, the physical coin, and the packaging.  But once again it's about volume.

banxplatinum

BanxPlatinum costs $297 and gives 1250 BanxShares (advertised with the lie that Banx investors made 245% ROI in 1 year).  If that is being used to pay dividends, the dividends will stop as soon as people stop paying for BanxShares.  That's a Ponzi scheme, and it will fail 100% of the time.

Mining btc

There is very little profit in mining, and it's not profitable at all for most people unless they hold and the price goes up - in which case they should have just bought the bitcoins cheaper than mining them.

lotto shares to be raking profits when up and running

That doesn't have anything to do with the dividends that have already been paid.  

And maybe the money taken in investments has actually been used to set these parts of the business up, who would have funked it eh

The prospectus says 15% of all IPO money will be continually applied to BanxATM.

Mark Lyford has confirmed that the money is supposed to be spent as outlined in the prospectus.

There is only 1 ATM in operation.

Yep everything you just claimed is bs good one.