Are BanxShares as good as GAW Paycoin?

[ByronP]

Coinmarketcap's last price says that BANX was trading for 540,000 satoshis.

Now that BANX is traded on BitShares, the price has quickly settled to about 150 satoshis.

So it's selling for 3600 times less than the ICO price.

Is that the new all-time world record for the biggest price drop of any coin?

Not arguing about the price taking a nose dive, but the main trading is happening here
https://banx.io/trade?c=BANX&p=BTC
Last price was 2999 sats not 150.

But then, you tend to have a habit of trying to only find the worse case scenario to benefit your oh so open mind

It might be a good time to edit your OP to

"Re: Are BanxShares as good as GAW Paycoin?  Obviously not, case closed"
You've done a good job, maybe now close the thread and find the next internet villain.

Interesting facts from banx.io exchange. I have noticed that now my Banx says that they are a BTS asset. How do I manage to get them or transfer them to the Bitshares platform? (openledger) I am still a little confused getting around all this. Any clarification would be greatly appreciated.  

1. go to bitshares.openledger.info and register for an account
2. go to banx.io and sign in to your account
3. go to your withdrawals page, under assets find BANX input the name of your openledger bitshares wallet that you created in step 1, enter a memo (can be anything since you don't need it for openledger) and the amount to transfer
4. click the transfer button and enter your security pin, you will then have a pending withdrawal that you will need to confirm by clicking a link in an email that will be sent to you
CONGRATULATION wait a few minutes and your transfer will process and show up in your openledger account

this is basically the same process for every withdrawal from every exchange

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[bizzyb]

Coinmarketcap's last price says that BANX was trading for 540,000 satoshis.

Now that BANX is traded on BitShares, the price has quickly settled to about 150 satoshis.

So it's selling for 3600 times less than the ICO price.

Is that the new all-time world record for the biggest price drop of any coin?

Not arguing about the price taking a nose dive, but the main trading is happening here
https://banx.io/trade?c=BANX&p=BTC
Last price was 2999 sats not 150.

That's right, the last trade at banx.io was...@ 0.00002999.  

Right, maybe I'm painting a false picture.  Like you said, the real price is 2999.
Anyone saying the price is lower must be a liar, right?

You need spend more time on other things RunPaint.

This also equates to an equivalent price of 29,990 sats for the pre BTS migration total coin circulation as the number of coins everyone holds was multiplied by TEN.
i.e if you held 1000, you have 10,000 now.
I didn't say the "real price is 2999" so don't lie please, you quite correctly agreed with me, that at the time of writing, the "last" price was 2999.
Simple fact.

Will this change? Yes
Why? Free market.
So? Nothing.

Move on with your life.

[BARR_Official]

Coinmarketcap's last price says that BANX was trading for 540,000 satoshis.

Now that BANX is traded on BitShares, the price has quickly settled to about 150 satoshis.

So it's selling for 3600 times less than the ICO price.

Is that the new all-time world record for the biggest price drop of any coin?

Not arguing about the price taking a nose dive, but the main trading is happening here
https://banx.io/trade?c=BANX&p=BTC
Last price was 2999 sats not 150.

That's right, the last trade at banx.io was for 1 single lonely BANX, for a total sale of 0.00002999 BTC, which is worth about $0.01 USD

This also equates to an equivalent price of 29,990 sats for the pre BTS migration total coin circulation as the number of coins everyone holds was multiplied by TEN.

You mean the real price of 150 sats would equate to 1500 sats per BANX before the illegal split performed in violation of the stated "Terms and Conditions" in the Banx prospectus which was used to promote the sale of these shares to the public.

So you're saying that, if we adjust for inflation, the price has only dropped to 360 times less than the previous fake price on Banx.io which was supposed to be one of the many ICO prices. 

...but if 6 buy orders get filled, it will be 1/3 of that, and then the next order will be 1/5 of that. 

[bizzyb]

Coinmarketcap's last price says that BANX was trading for 540,000 satoshis.

Now that BANX is traded on BitShares, the price has quickly settled to about 150 satoshis.

So it's selling for 3600 times less than the ICO price.

Is that the new all-time world record for the biggest price drop of any coin?

Not arguing about the price taking a nose dive, but the main trading is happening here
https://banx.io/trade?c=BANX&p=BTC
Last price was 2999 sats not 150.

That's right, the last trade at banx.io was for 1 single lonely BANX, for a total sale of 0.00002999 BTC, which is worth about $0.01 USD

This also equates to an equivalent price of 29,990 sats for the pre BTS migration total coin circulation as the number of coins everyone holds was multiplied by TEN.

You mean ...illegal split performed ....to the public.

So you're saying that..... inflation..... fake......1/5 of that. 

OK whatever you say RunPaint

[BARR_Official]

[bizzyb]

tool

What!?

Are you telling me that a free market price has changed!

Call the cops, or at least dangermouse, it is NOT going to be tolerated any more.


BRING BACK THE ICO..for the love of god..please...bring back the ICO....

[bizzyb]

@MarkLyford, if you are monitoring this thread, please, I am pleading..

Please bring back the fixed minimum pricing ICO....please !!

RunPaint, you are like a breath of fresh air, like a mountain breeze dancing across a spring of lily bordered refreshment....thank you...I think I am having a bit of a religious experience...

wow..hang on...I'm floating above my own body...I can see the entire universe now, and it looks like the BARR icon....woah....so purdy...

[BARR_Official]

The facts have sent you into an emotional episode. 

I'm sorry you spent a lot of money buying BANX at 650 and now it looks like it will be under 50 sats soon.

But you can't say I didn't warn you.  I've been your best friend here, but you wouldn't listen. 

[bizzyb]

The facts have sent you into an emotional episode. 

I'm sorry you spent a lot of money buying BANX at 650 and now it looks like it will be under 50 sats soon.

But you can't say I didn't warn you.  I've been your best friend here, but you wouldn't listen. 

Life is an emotional episode

So, tell me about your relationship with your mother?

[BARR_Official]

The facts have sent you into an emotional episode. 

I'm sorry you spent a lot of money buying BANX at 650 and now it looks like it will be under 50 sats soon.

But you can't say I didn't warn you.  I've been your best friend here, but you wouldn't listen. 

Life is an emotional episode

So, tell me about your relationship with your mother?

Trusting an emotionally disturbed person for therapy would be like trusting an insolvent criminal for investment. 

So of course you see no problem with it.

[favdesu]

Coinmarketcap's last price says that BANX was trading for 540,000 satoshis.

Now that BANX is traded on BitShares, the price has quickly settled to about 150 satoshis.

So it's selling for 3600 times less than the ICO price.

Is that the new all-time world record for the biggest price drop of any coin?

it's the biggest "stay the fuck away" sign of the world for sure

[IanDeMartino]

Update on Banx by CoinJournal (that'd be me)

If you guys don't like anything about the article, I'm sure you'll still like the photo.



http://coinjournal.net/mark-lyford-opens-banx-sales-quickly-becomes-worthless/

I think the article is pretty good too. There is a lot about the current stuff (price below a penny, etc) but also includes some old stuff that has resurfaced. If you'll remember, my last run-in with Mark ended with him putting "these are projections" on his BanxCapital site. That disclaimer has been removed, but the statistics have been left up, so I did a little calculating with them.

We also see that Banx.io is claiming 1095 BTC in profit despite only having $19, or 0.0462 BTC in total volume over the last 24 hours, (as of 3/21/16) which has been typical of its usage over the past year. 1095 BTC a year equates to 3 BTC per day or roughly $1248. That means Lyford has been claiming that Banx.io has been pulling in over 6550% in fees compared to his exchange’s total volume. 0.1% is a typical exchange fee, so in order to pull in 3 BTC a day, Banx.io daily volume will need to increase to 3000 BTC or about $1,247,190 per day. That would be a whopping 6.5 million percent increase from its current levels.

The site still accepts sign ups for interested “private investors” though it stopped listing dividend payouts after July 2015.

Enjoy.

[favdesu]

Update on Banx by CoinJournal (that'd be me)

If you guys don't like anything about the article, I'm sure you'll still like the photo.



http://coinjournal.net/mark-lyford-opens-banx-sales-quickly-becomes-worthless/

I think the article is pretty good too. There is a lot about the current stuff (price below a penny, etc) but also includes some old stuff that has resurfaced. If you'll remember, my last run-in with Mark ended with him putting "these are projections" on his BanxCapital site. That disclaimer has been removed, but the statistics have been left up, so I did a little calculating with them.

We also see that Banx.io is claiming 1095 BTC in profit despite only having $19, or 0.0462 BTC in total volume over the last 24 hours, (as of 3/21/16) which has been typical of its usage over the past year. 1095 BTC a year equates to 3 BTC per day or roughly $1248. That means Lyford has been claiming that Banx.io has been pulling in over 6550% in fees compared to his exchange’s total volume. 0.1% is a typical exchange fee, so in order to pull in 3 BTC a day, Banx.io daily volume will need to increase to 3000 BTC or about $1,247,190 per day. That would be a whopping 6.5 million percent increase from its current levels.

The site still accepts sign ups for interested “private investors” though it stopped listing dividend payouts after July 2015.

Enjoy.

thanks for sharing Ian, that article is on point.

[MarkLyford]

thanks for sharing Ian, that article is on point.

Not that 'on point' as I have pointed out to Mr DeMartino he is deliberately using old screen caps our our pages. We have not had projections on our websites for many months as this email explains to Mr DeMartino. As you see I have requested he change this deliberate false information urgently.

As I have said in the email I have no further comments as nothing I say or do will change the agenda Mr DeMartino and his associates have:

[IanDeMartino]

As I replied via email Mark, those screenshots from your page were taken Yesterday.


So they will remain up.

[MarkLyford]

As I replied via email Mark, those screenshots from your page were taken Yesterday.


So they will remain up.

De Martino

I suggest you check your email again and stop playing games. I may accept you trying to mess with me and my business but I wont accept you deliberately mis representing me.

[MarkLyford]

My response to De Martino's latest B.S >> http://banxforum.com/index.php?threads/my-response-to-the-latest-b-s-from-ian-de-martino.326/

[IanDeMartino]

I took them yesterday. I don't know or care if your website was displaying incorrectly. I took that screenshot yesterday while on your site. PERIOD.




Unedited screen I took YESTERDAY.

[MarkLyford]

stop playing games. banxshares.com has been forwarding to banxcapital.com for months.

[bizzyb]

I took them yesterday. I don't know or care if your website was displaying incorrectly. I took that screenshot yesterday while on your site. PERIOD.


Unedited screen I took YESTERDAY.

Strange then that web archive from 9th January 2016 shows Banxshares.com forwarding to Banxcapital.com

AND

the web archive from 9th January 2016 shows Banxcapital.com with NO "projections"

http://web.archive.org/web/20160109123320/http://banxshares.com/

I wonder how that could be explained?
Any ideas?