Are BanxShares as good as GAW Paycoin?

[Marlo Stanfield]

How many real people do you think are invested in Banx?

I'm guessing probably not too many, but maybe they've cornered a few whales or something and they're slowly bleeding them dry.

[DecentralizeEconomics]

It's this calibre of individual that gets Chairman Stanlin Larimer so excited when they join Bitsnares.

Banx Capital announced today that it would be joining the BitShares Exchange Network when version 2.0 is released later this summer.

Banx Announcement

Since the end of 2013, Banx has been launching a portfolio of cryptocurrency businesses including a crypto currency exchange, mining company, trading company, physical coin company and a half dozen other enterprises intended to span the industry.

This is an exciting example of two new trends that will change the landscape of the Crypto industry this year:

MEGATREND 1.  Coins Upgrading to Shared Industrial Grade Networks.

BanxShares is the first Top Ten crypto currency on coinmarketcap to recognize it is not stuck with ancient 2014 technology.  Just because it was launched as an isolated stove-pipe blockchain doesn't mean that it is forever locked into the old model where it must cover its own blockchain's maintenance and operating costs and attract its own network effect, exchange listings, and community.  By snapshotting itself as a User Issued Asset (UIA) on the BitShares Exchange network, all those headaches go away.   It will still be an independent top ten coin on the world stage, but beneath the surface it will now be powered by BitShares 2.0. 

Yep.  Why license BitShare's awesome new technology when you can move onto the BitShares network itself for a small one time fee? BanxShares will instantly gain 1 second transaction times and all the other benefits of industrial grade performance - on the same day as BitShares upgrades itself. 

MEGATREND 2.  Exchanges Upgrading to Shared Industrial Grade Networks.

BANX.io is an innovative exchange that specializes in trading the shares of other startup businesses, including its own shares.  By moving onto the BitShares Exchange Network BANX.io instantly gains access to other members' products and services such as the fiat on/off ramps and globally welcomed Nanocard provided by CCEDK and Bit-X.   Its customers can trade with the combined customers and assets brought to the network by all other member exchanges.   And, thanks to the BitShares referral program, BANX.io still collects its share of the network-wide transaction fees paid by every customer it brings to the table.

“Some of the biggest digital currency exchanges have been hacked and the rest are looking over their shoulders” says Banx Capital CEO and Founder Mark Lyford, “BitShares are offering their Smartchain as a safe, level playing field for use by the whole industry.  It can serve as backbone network to all the exchanges as a way for them to trade with and against each other.  With shared order books we will have deeper markets, tighter spreads, and greater liquidity.  And since our customers keep their own keys while trading on this network, combined with hierarchical multi-sig capabilities we can’t get hacked - and our customers can’t get hacked.”

Welcome aboard Banx!

Back to Mark's book:

http://rebelentrepreneurbook.s3.amazonaws.com/Mark_Lyford_Rebel_Entrepreneur.pdf

When he was 17, he got a job at a record store.  He only worked there for 3 months, and he hated working.  So he's never had a real job again, according to him. 

Then he worked with a Nigerian scammer who worked over fax machines - before emailing the scams was cool.  But Mark didn't know it was a scam, of course.

He says he ran a "racing pigeon business" when he was 18, and traveled to San Diego, then Las Vegas, and a casino owner gave him a bunch of free drinks.   Mark says he was pretending to be 25, so maybe they didn't check his ID.

Then, still age 18, he flew to the Bahamas for more pigeon-racing business.

Then, millionaire Sir Freddie Laker flew him to Ft. Lauderdale on his own airplane and drove him to a hotel in a Bentley! 

Then he made 32,000 porn websites and borrowed £150,000 using his parents' house as collateral, and he couldn't pay it back because some bigger porn website gangsters tricked him out of his website network. 

Then he grew a warehouse full of marijuana, and he got arrested.

Then his doctor gave him some medicine for his emotional troubles, and he started having sex with his secretary but he would think about his ex-wife while he was doing it.

Also he drank brandy "like water" and he still loves to smoke weed even today.

Then he went to prison for 2 years - the judge didn't even care about the good reasons Mark had for breaking the law.  It was unfair.

In prison, he learned that drug dealers are very smart people, but it's always someone else who lets them down and that's why they get arrested.

On Page 177, Mark says that he's always been a gambler, and that he lost $10,000 in 8 minutes in Las Vegas.

In the chapter "Money While You Sleep", Mark says that the only kind of business he is interested in is online business that he can run from a laptop, and that involves recurring payments.  I guess that's the cloud mining.

Then he lists some times that people scammed him;  he keeps a list of everyone who has ever ripped him off, and he promises that karma is a bitch.  He says he's been ripped off by a lot of people.

Mark says that different people have different perceptions of what is right and wrong, so it makes no sense to always follow the rules in business.

He says that he sold an e-book that only took him 3 hours to write.

He says that he took notes at someone else's workshop, and then made a video of the notes and made $1000 selling his "walkthrough" which took him a total of 8 hours.

Yes folks, WE HAVE A WINNER!

[runpaint]

I must admit, the volume and marketcap do not look legit at all. however, once banx operates through BitShares, there won't be any manipulation possible.

They'll still be able to hold the majority of shares in their own wallet, on their own exchange, and continue to say they're selling them off-chain and transferring them internally.  

AltcoinHerald had a NXT asset - they paid dividends for a while, then dumped all of their own shares and disappeared with the money.  When a share has value only because of expected future dividends, it becomes completely worthless as soon as the dividends stop.

If BanxShares become available on real exchange markets, and there is a large volume of buy orders - at any price - it will be very easy for Banx to sell their millions of remaining shares for whatever they can get, and then never pay a dividend again.  What do they have to lose?  1 ATM machine and some mining equipment that may not exist?

From the Banx prospectus, Page 1:

"There is no guarantee that dividends will be paid."

http://banxcapital.s3.amazonaws.com/Banx_Capital_Prospectus.pdf

[favdesu]

I must admit, the volume and marketcap do not look legit at all. however, once banx operates through BitShares, there won't be any manipulation possible.

They'll still be able to hold the majority of shares in their own wallet, on their own exchange, and continue to say they're selling them off-chain and transferring them internally.  

AltcoinHerald had a NXT asset - they paid dividends for a while, then dumped all of their own shares and disappeared with the money.  When a share has value only because of expected future dividends, it becomes completely worthless as soon as the dividends stop.

If BanxShares become available on real exchange markets, and there is a large volume of buy orders - at any price - it will be very easy for Banx to sell their millions of remaining shares for whatever they can get, and then never pay a dividend again.  What do they have to lose?  1 ATM machine and some mining equipment that may not exist?

From the Banx prospectus, Page 1:

"There is no guarantee that dividends will be paid."

http://banxcapital.s3.amazonaws.com/Banx_Capital_Prospectus.pdf

their mining gear is real, but very small. I asked for proof on bitsharestalk and made them post pictures. I doubt they make a lot with it.

[bigmanintown]

If you put half this effort into creating something yourself you might actually get somewhere in life! Or you could just sit behind your pseudonym and be a keyboard warrior...

[runpaint]

their mining gear is real, but very small. I asked for proof on bitsharestalk and made them post pictures. I doubt they make a lot with it.

35% of all the money from the IPO is supposedly to be continually invested into mining hardware.  Hundreds of thousands of dollars. 

[runpaint]

If you put half this effort into creating something yourself you might actually get somewhere in life! Or you could just sit behind your pseudonym and be a keyboard warrior...

When I take millions of dollars from the people here at bitcointalk, then you can criticize what I'm doing. 

Since you are the one taking their money, you are the one that gets scrutinized.

[stereotype]

My only response to all of that has to be.....holy fuck!
runpaint has been a busy guy.

Is NXTInspect looking to fill any positions! 

[EvilDave]

If you put half this effort into creating something yourself you might actually get somewhere in life! Or you could just sit behind your pseudonym and be a keyboard warrior...

And if you put a few minutes into actually reading the thread.......you might find that there really are some serious issues with BanxShares 
Far as I can see, we should be grateful that runpaint has the skills and time to put this topic together.

[stereotype]

If you put half this effort into creating something yourself you might actually get somewhere in life! Or you could just sit behind your pseudonym and be a keyboard warrior...

The only thing i see being created by you, is a bigger and bigger hole, together with a future rod for your back. When there are so many questions to answer, this^^^^ just says failure.

What did you create before you were the No.2 of a bitcoin company/exchange that counts its traded share volume 5x more than it actually did?     

[Pheonike]

He admits to what he's done in his book. Doesn't sound like someone trying to hide something. I'm not saying he is a great guy, but anyone could read the book and judge for themselves.

[Marlo Stanfield]

He admits to what he's done in his book. Doesn't sound like someone trying to hide something. I'm not saying he is a great guy, but anyone could read the book and judge for themselves.

Not sure any of that is the real issue here.

If you put half this effort into creating something yourself you might actually get somewhere in life! Or you could just sit behind your pseudonym and be a keyboard warrior...

When I take millions of dollars from the people here at bitcointalk, then you can criticize what I'm doing. 

Since you are the one taking their money, you are the one that gets scrutinized.

Have they really taken that much? I would have been surprised if they had sold six figures of this thing. Are there really a lot of people in the community who have bought in?

[stereotype]

Have they really taken that much? 

The fact that question is even being asked, says it all......but lets ask it, nonetheless.

@Banx
To date, how much has Banx raised during its IPO?

[timmyd]

After reading all this lengthy thread which is pretty tiresome tbh after seeing it all again for like the 3rd time? What ever picture you try to paint of mark and his business banx, it isnt going to make the slightest bit of difference to banx. If anything banx will just try harder than it already is to prove you lot of paranoid crypto phobes wrong. Again banx has done nothing but produce results. Ive been in since november 2014 when banx had NOTHING. Banx now has a few projects on the portfolio its paid me dividends every month for nearly a year now. I am more than immpressed with the work produced. I havnt seen a crypto project even come close to banx. Either get involved or focus your talents of requoting shit else where. What does piss me off is seeing people try to destroy my investment. i made a choice to invest in this idea at the time of investment and pretty much thats all it was. Now its a running business with services and more in the pipeline. Your all so far of base its embarrassing. Banx doesnt need your green light to succeed its doing just fine with out you lot involved.

Lets see what other people who actually own banx shares think. Because atm none of you own shares and yet your voicing your opinion when you have no experience with the project other than reading some quotes on a fcking troll forum.

[runpaint]

After reading all this lengthy thread which is pretty tiresome tbh

I doubt that's true.  Any Banx investor who reads this thread should be furious - but not with me.

What does piss me off is seeing people try to destroy my investment.

Are you talking about Mark Lyford? 

I can't destroy your investment, because your investment is already a loss.  According to the patterns shown in this thread, and if Banx is what it appears to be, you will never get dividends equal to the amount you spent on shares. 

[runpaint]

But this has got to make one wonder about the relationship of banx to bitshares.

Birds of a feather flock together.   

I decided to ask a few questions about BitShares:

https://bitcointalk.org/index.php?topic=1185432.0



Do you remember in this topic, when some guy showed up and had a whole story about the 2 PoW mining phases of Banx, and how miners got a lot of BanxShares, and how the coins at C-Cex only got forked because miners were exploiting the network?  Just a bunch of imaginary lies, but he was pretending it was a real series of events?

I noticed a similarly perplexing tactic in my BitShares topic.

A guy shows up, and he seems to be serious about the series of events he describes.  But the slightest look at the facts shows that his story has no connection with reality.  This time I had to use the Wayback Machine.  I guess the most confusing part is why someone would say "Protoshares wasn't renamed to BitSharesPTS until November" when Google can prove it was already called that 10 months earlier. 

[Hullabaloo]

Do you remember in this topic, when some guy showed up and had a whole story about the 2 PoW mining phases of Banx, and how miners got a lot of BanxShares, and how the coins at C-Cex only got forked because miners were exploiting the network?  Just a bunch of imaginary lies, but he was pretending it was a real series of events?

Hold on, I was fine with you questioning BANX and M. Lyford, he's a big boy and can defend himself.  But now you're calling ME a liar and a sockpuppet, just because you seem unable to order events in their proper time frame. So here's a simple, incontrovertible fact you can't argue with, the code for the original BANX wallet I got from the github:

Code:

int64 static GetBlockValue(int nHeight, int64 nFees)
{
    int64 nSubsidy = 2 * COIN;

    if(nHeight==5) return 5400000 * COIN;
    
    if(nHeight==43002) return 551184 * COIN;
    
    if(nHeight>7000) nSubsidy = 1 * COIN;
    
    if(nHeight>42700) return nFees;

    return nSubsidy + nFees;
}

You can see exactly how the mining happened, and why it was easy for miners to 51% the small network subtly and keep creating new shares for a while.  You can compare that with the code for the new PoS wallet if you want, but since you haven't bothered to investigate and just called me a liar, I don't expect you to bother trying to fit these facts in your version of reality.

According to you, I'd be a victim of a huge scam with BANX.  Makes me wonder why you'd attack me without checking any of the things I tried to help you with and lose some of your credibility in the process.

[timmyd]

After reading all this lengthy thread which is pretty tiresome tbh

I doubt that's true.  Any Banx investor who reads this thread should be furious - but not with me.

What does piss me off is seeing people try to destroy my investment.

Are you talking about Mark Lyford? 

I can't destroy your investment, because your investment is already a loss.  According to the patterns shown in this thread, and if Banx is what it appears to be, you will never get dividends equal to the amount you spent on shares. 

Did you even read what i wrote? Seems your too eager to requote. Anyways thanks for that. You have proven to me you clearly cannot read. You could see what i wrote and made your own suggestions. Basically what you have done with this whole thread.
Once again im a banx holder im very happy with the project and the profit payouts i have recieved over the last year.
Regarding mark or the team? Great set of guys i speak to them daily. Ive have skype contact, phone numbers, personal fb accounts and i have even been invited to the offices if i am ever passing. I wish i could say the same about ANY other crypto project. You have way too much time on your hands for this to be a hobby. You sir have a motive. And i will remind you that you are just a troll on a troll forum no one really gives a shit what story you scrape together because banx is producing results. This project was just a plan when i joined now it has many branches to the business. But you sir are stuck so far up your own arse its embarrassing reading what you have written. Your claiming bitshares is a scam now its laughable im actually lmafao in bed atm. Thanks for the lols on your behalf

[runpaint]

So here's a simple, incontrovertible fact you can't argue with, the code for the original BANX wallet I got from the github:

According to Mark Lyford, they weren't using that code the day Banx was announced.  That's the incontrovertible fact.

We're led to believe that a wallet update was required for all users before the coin was announced - but Mark also said that miners had been dumping at cheap prices.  The only exchange was Banx.io, so does that mean that everyone who bought and sold before the wallet update had their trades and shares cancelled?

And the only wallet I currently find at github is the Banx PoS wallet.  Did you save the original wallet last year?  How do you know it's the original wallet?  Did you get it before the Bitcointalk ANN?  If so, where did you find out about Banx before it was announced?

You can see exactly how the mining happened, and why it was easy for miners to 51% the small network subtly and keep creating new shares for a while.

For a while?  Supposedly the network was running for 1 week before it was announced at Bitcointalk, and by that time the coin wasn't mine-able.  

So how could anyone mine in in those 7 days?  There was no way for them to know it existed.  

Besides, Mark Lyford says Banx premined all 6 million coins.  Therefore, miners got nothing.  

Also, it would be huge news if any miners succeeded in multiple 51% double-spend attacks.  It has never happened in the entire history of Bitcoin.  

So, once again, it looks like you're just making stuff up.

Or, to be fair, maybe some huge mining pool found out about this secret coin and had more hashrate than BanxMining, a multimillion-dollar cloud mining service with a free-energy windmill generator.  And this huge mining pool decided to use their costly equipment to mine a coin that is only sold on its own exchange, and then they dumped it for less than the ICO price, before the launch was announced, for no reason.  



I'd like to ask you a serious question:  When you talk about the first PoW phase, are you talking about the Banx Testnet?

but since you haven't bothered to investigate

You're alone on that one, since the other Banx supporters say I've spent too much time investigating.  

[timmyd]

This guy clearly has issues. Big issues. Reading your replys make me think you need help. You live in a fantasy world