[ANN] Banx - Liquidity Paid Back In From Profits

[MarkLyford]

Right I'm getting packed to fly on vacation guys, I'll keep keeping this thread periodically while away

Regards

Mark
 

[AltCoin555]

Hi, I was interested in buying in for shares but after I started looking at a few things I became a little wary. I'm just relaying my observations and not attempting to bash the coin in any matter. If for some reason there are reasonable explanations for what I'm seeing then I may go ahead and invest.

First off, I noticed some strange code that was added then subsequently removed from the wallet. This code mentioned something about a FoundationIPO address, which is bTStnuXqS3in7JkB83ZZ9F8RdwjSSfsAdH
This code can be found at the follow commit on github:
https://github.com/Banx-Capital/Banx/commit/e376dc734808744d0cf1748f33066f9378817d1e

It looks suspicious but I don't know, like I said, there may be some reasonable explanation for that.

Before I found out there was a block explorer already created, I had first tried to create my own block explorer. I had a terrible time doing this as some RPC commands would cause the wallet to crash. An example of a command would be the "getblockhash" function. If you try it, open your wallet and click debug, then click on console, simply type "getblockhash 1". This seemed to only happen if the wallet had been previously opened and closed at least once. Otherwise the function would work if I had deleted the entire chain and opened the wallet "for the first time".

So, there is a block explorer. The address is block.banxcapital.com. However, it doesn't seem to be available all the time, some server issues or something.

When I was able to go through the block explorer I found some interesting blocks full of large transactions. From what I'm being told, it's not possible to receive some coins and send those same coins out within the same block (different transactions). So it looks extremely suspicious when I see over 10 million coins being transacted within a single block. There's only supposed to be 6 million coins correct? The blocks in question are 157, 171, 172, and 173.

Thank you for your time, and again, if any of this can be explained you will have another investor at your doorstep.

Address: bTStnuXqS3in7JkB83ZZ9F8RdwjSSfsAdH is for the IPO, mining has finished in any case.

Block 157 has the IPO original amount of coins and this is presented in the blockchain as 5,400,000 then change of 5,399,000 as it was moved to a different wallet.

Block 171,172 and 173 are simply those coins being divided into different parts for different functions within the business.

This response did not address any of the issues I've presented.

Mark, you may be trustworthy, but what makes me want to trust your developers? What makes you trust them?

Fix the wallet so that 3rd parties can make a block explorer, decentralize the shares.

[cronicbeef]

hi i deposited 2 transactions to banx.io yesterday but my btc have not showed up can anyone help with this matter?

[timmyd]

hi i deposited 2 transactions to banx.io yesterday but my btc have not showed up can anyone help with this matter?

Not sure if they are manual atm pal. Once dev see's your issue will be sorted pretty quick.

[bigmanintown]

hi i deposited 2 transactions to banx.io yesterday but my btc have not showed up can anyone help with this matter?

Can you check again now please. They should be showing up for you. Please let us know if they haven't hit your account and we will look into it further for you.

[mellorbo]

hi i deposited 2 transactions to banx.io yesterday but my btc have not showed up can anyone help with this matter?

Can you check again now please. They should be showing up for you. Please let us know if they haven't hit your account and we will look into it further for you.

hi he is a friend of mine who is new to crypto. i called him this afternoon and he said his funds are in his account, i will be going round later to show him how to use the exchange.
thankyou for sorting his proplem its much appreciated.

[bigmanintown]

Don't forget that for your profits to be paid out each month you will need to put all your shares into the banx.io exchange by the 25th of each month for them to be registered and for you to receive your BTC payout!

The first round of payouts will be happening at the end of this month (October) so make sure you sign up to the exchange quickly and get your shares loaded into your wallet there to ensure your payouts!

We are pretty pleased that we can payout already and hopefully you are too! It is a month earlier than we expected!

If you have any problems getting signed up or getting your coins in then you can hit me up while Mark is away. Either get in touch here, via our live support (I am manning it at the moment) or grab me on skype: yesbossdodd

Looking forward to this first round of payouts!

Simon Dodd
Business Manager

[bizzyb]

Don't forget that for your dividends to be paid out each month you will need to put all your shares into the banx.io exchange by the 25th of each month for them to be registered and for you to receive your BTC payout!

The first round of payouts will be happening at the end of this month (October) so make sure you sign up to the exchange quickly and get your shares loaded into your wallet there to ensure your payouts!

We are pretty pleased that we can payout already and hopefully you are too! It is a month earlier than we expected!

If you have any problems getting signed up or getting your coins in then you can hit me up while Mark is away. Either get in touch here, via our live support (I am manning it at the moment) or grab me on skype: yesbossdodd

Looking forward to this first round of payouts!

Simon Dodd
Business Manager

Wow, that is awesome work, well done Banx team!!
Can you give us any idea of how long before dividends will be paid direct to our wallets?  Is that a current development?
Many thanks

[bigmanintown]

hi i deposited 2 transactions to banx.io yesterday but my btc have not showed up can anyone help with this matter?

Can you check again now please. They should be showing up for you. Please let us know if they haven't hit your account and we will look into it further for you.

hi he is a friend of mine who is new to crypto. i called him this afternoon and he said his funds are in his account, i will be going round later to show him how to use the exchange.
thankyou for sorting his proplem its much appreciated.

Thanks for that. I am on live support so if you run into any problems just give me a shout and I'll happily help

[freedomsr40]

this may be somewhere else on the thread but what is the monthly interest?is it staking basically?thanks

[relaric]

Mark, I know you've heard it several times in this thread and I know you've gone to some pretty extreme lengths to try and dispel the idea but I am not convinced this isn't a Ponzi scheme. Here are a few of my reasons:

1) There's so much emphasis on your talents and your abilities and it's being presented as the most important information. If you truly believed in your idea than the focus of your announcement and subsequent replies to naysayers would be based on what your companies edge is in the field, what you're going to do differently and better. Instead you use your somewhat misleading accolades and hyperbole (32,000 sites, 2 mil consistent annual income, "internet entrepreneur") as the key reason you believe the company will be successful. 1 man does not a successful company make.

2) You refer us to your prospectus to show you have a "real business plan, that will succeed" (not direct quote). Prospectuses are intended to serve only the first point (validation of legitimacy, "real" business plan) and are not intended to be the primary material given to potential investors to convince them you will be successful.

3) Each Banx company/division seems to be trying to give the impression that they are already legitimate revenue generating businesses, while you're in the middle of an IPO that you claim still needs to generate 2 mil. That just feels weird, backwards and scammy. You already have your coins ready for sale on Banxmint, people can theoretically trade on Banx.io (although there is no one to trade with) and your offices are already full of equipment (including a dedicated video editing room and set?)

4) This is the reason that inspired me to actually post: You claim to be ahead of schedule and already producing revenue, enabling you to pay out dividends a month early. This is a classic Ponzi move; make the company seem like it's ahead of schedule to convince those that are already invested to double up (even though they haven't even seen a profit yet) and get investors on the fence to jump in quickly before they miss the boat. Please provide a cash flow analysis that shows where and how you've generated a net profit in the 2 weeks or so since your IPO.

There are other red flags I'm forgetting but I digress.

This is either a Ponzi scheme, or you are doing a terrible job of putting the good things you're doing or will be doing into the spotlight.

Also, what kind of CEO takes a week long vacation 2 weeks in to an incomplete IPO?!

Mark if you could convince me I'd be really pleased. The only reason I don't have the pitchforks out is I want this to be a real thing. Streamlining all the back-end processes of Bitcoin under one name and essentially one company would be great for Bitcoin and it's consumers.

[relaric]

this may be somewhere else on the thread but what is the monthly interest?is it staking basically?thanks

No staking is producing new coins as a reward for securing the network. BanxShares is trying to be an actual company and the monthly interest is a dividend payout like a regular stock, but is issued through a cryptocurrency.

[s4m0ht]

Mark, I know you've heard it several times in this thread and I know you've gone to some pretty extreme lengths to try and dispel the idea but I am not convinced this isn't a Ponzi scheme. Here are a few of my reasons:

1) There's so much emphasis on your talents and your abilities and it's being presented as the most important information. If you truly believed in your idea than the focus of your announcement and subsequent replies to naysayers would be based on what your companies edge is in the field, what you're going to do differently and better. Instead you use your somewhat misleading accolades and hyperbole (32,000 sites, 2 mil consistent annual income, "internet entrepreneur") as the key reason you believe the company will be successful. 1 man does not a successful company make.

2) You refer us to your prospectus to show you have a "real business plan, that will succeed" (not direct quote). Prospectuses are intended to serve only the first point (validation of legitimacy, "real" business plan) and are not intended to be the primary material given to potential investors to convince them you will be successful.

3) Each Banx company/division seems to be trying to give the impression that they are already legitimate revenue generating businesses, while you're in the middle of an IPO that you claim still needs to generate 2 mil. That just feels weird, backwards and scammy. You already have your coins ready for sale on Banxmint, people can theoretically trade on Banx.io (although there is no one to trade with) and your offices are already full of equipment (including a dedicated video editing room and set?)

4) This is the reason that inspired me to actually post: You claim to be ahead of schedule and already producing revenue, enabling you to pay out dividends a month early. This is a classic Ponzi move; make the company seem like it's ahead of schedule to convince those that are already invested to double up (even though they haven't even seen a profit yet) and get investors on the fence to jump in quickly before they miss the boat. Please provide a cash flow analysis that shows where and how you've generated a net profit in the 2 weeks or so since your IPO.

There are other red flags I'm forgetting but I digress.

This is either a Ponzi scheme, or you are doing a terrible job of putting the good things you're doing or will be doing into the spotlight.

Also, what kind of CEO takes a week long vacation 2 weeks in to an incomplete IPO?!

Mark if you could convince me I'd be really pleased. The only reason I don't have the pitchforks out is I want this to be a real thing. Streamlining all the back-end processes of Bitcoin under one name and essentially one company would be great for Bitcoin and it's consumers.

look like good points to me, I'd be glad to see the answers.

[MarkLyford]

Mark, I know you've heard it several times in this thread and I know you've gone to some pretty extreme lengths to try and dispel the idea but I am not convinced this isn't a Ponzi scheme. Here are a few of my reasons:

1) There's so much emphasis on your talents and your abilities and it's being presented as the most important information. If you truly believed in your idea than the focus of your announcement and subsequent replies to naysayers would be based on what your companies edge is in the field, what you're going to do differently and better. Instead you use your somewhat misleading accolades and hyperbole (32,000 sites, 2 mil consistent annual income, "internet entrepreneur") as the key reason you believe the company will be successful. 1 man does not a successful company make.

2) You refer us to your prospectus to show you have a "real business plan, that will succeed" (not direct quote). Prospectuses are intended to serve only the first point (validation of legitimacy, "real" business plan) and are not intended to be the primary material given to potential investors to convince them you will be successful.

3) Each Banx company/division seems to be trying to give the impression that they are already legitimate revenue generating businesses, while you're in the middle of an IPO that you claim still needs to generate 2 mil. That just feels weird, backwards and scammy. You already have your coins ready for sale on Banxmint, people can theoretically trade on Banx.io (although there is no one to trade with) and your offices are already full of equipment (including a dedicated video editing room and set?)

4) This is the reason that inspired me to actually post: You claim to be ahead of schedule and already producing revenue, enabling you to pay out dividends a month early. This is a classic Ponzi move; make the company seem like it's ahead of schedule to convince those that are already invested to double up (even though they haven't even seen a profit yet) and get investors on the fence to jump in quickly before they miss the boat. Please provide a cash flow analysis that shows where and how you've generated a net profit in the 2 weeks or so since your IPO.

There are other red flags I'm forgetting but I digress.

This is either a Ponzi scheme, or you are doing a terrible job of putting the good things you're doing or will be doing into the spotlight.

Also, what kind of CEO takes a week long vacation 2 weeks in to an incomplete IPO?!

Mark if you could convince me I'd be really pleased. The only reason I don't have the pitchforks out is I want this to be a real thing. Streamlining all the back-end processes of Bitcoin under one name and essentially one company would be great for Bitcoin and it's consumers.

The company edge is me. Plain and simple. I'm the one that will make this work in addition to the kick ass people around me I have.  The other big edge is the background online we have and our extensive affiliate base. I did have 32,000 sites, and was making $2 mill a year recurring between 1999 - 2001, and I am an internet entrepreneur. Nothing misleading at all. People should believe in this company because of me. Because anyone who really knows me knows i work my ass off and won’t give up until the goal and job is done.

We have many more resources , including the webinar we did last week for investors. Anything you would like to see not addresses please let me know.
We are mining, we have banx.io and we as selling shysical coins. yes. and most of the equipment in our offices are from our previous businesses.  We are teady to trade and up the trade numbers, no one is trying to give the impression we are bringing in lots of money already/
Listen pal. no ponzi scheme here. hardly any over heads associated with the businesses now running and banx.io has made over 3 BTC in fees. That is what is being used to pay out profits. .

I think we have done great job of highlighting what we are doing.

If you have more questions , why not add me on skype and lets have a voice call.

This ICO will last until it is fully funded. The kind of CEO that takes a weeks vacation is the kind that 1, has been working 20 hours days for the last 6 months on this stuff and two is online, laptop and phone off and on all day still working.

I agree streamlined one company to do a multitude of things is the vision i have and it will happen.

Add me on skype ID mjlyford if you would like , I want you to be convinced if that is indeed possible to do


Regards

Mark

[MarkLyford]

this may be somewhere else on the thread but what is the monthly interest?is it staking basically?thanks

nothing fixed profits wise, but projections are in our prospectus.

[MarkLyford]

I understand why so many people are negative about this type of offering, too many kids ripping people off, but all I can say is this isnt that. This is my vision, a vision of someone who sets a goals and won't stop until its achieved.

With out sound like I'm up my own ass, your buying into me if you buy banx shares, I have a great team of people around me, but I'm the one steering the ship and creating the vision.

I'm open to talking to any one about the plans and answering any questions they may have.

[relaric]

Interesting response.

I get the idea, I'm glad to hear you say more directly that all the company is at this point is you, and by extension what you will make of it.

I have a lot to say, but most importantly: Why is your company trying to raise 2 million so early? (I understand that you have a plan for it, but take it one step at a time. Under-promise, over-deliver)

I get that the plans are big, but you have very little (although admittedly encouraging) value production at the moment.

Why not start with one thing at a time? Focus on achieving one of the many goals of Banx. Put all of your effort into having one stellar platform and as it succeeds put the money back into the business and raise funds when you have a foundation to work from.

There is no reason for anyone to think that you will turn this company into what it aims to be. There are so many startups in every field that fail, even more so in the crypto space. You present your company in a way that makes you seem like you are ignoring this reality and I do not see a back-up plan in case of under-performance.

Give us 1 good platform, you clearly have the funds to sustain and focus on, let's say, turning banx.io into one of the big players in the exchange business.

By requesting the money this early, you place all the risk on the investor. That is not indicative of someone who is willing to put their life and soul into a business. Add on to that the wealth of other companies you have opened in your career and are no longer working on (maybe I'd go as far as saying abandoned) and it makes for a lot of worry and doubt for the investor.

I would like to reiterate my position that I want this to succeed and I want to believe that you plan on sticking to this until the bitter end. I am only pointing out that by your own hand best case scenario:

- You're giving the wrong message and raising needless red flags while also somewhat inappropriately allocating risk (or at least perception of risk)

worst case:

- You are trying to get investors to jump in to a very elaborately planned pump and dump

Thank you for any and all response.

[freedomsr40]

i like this but i want to know how much the dividend would be % wise....when will you have that info?

[MarkLyford]

Interesting response.

I get the idea, I'm glad to hear you say more directly that all the company is at this point is you, and by extension what you will make of it.

I have a lot to say, but most importantly: Why is your company trying to raise 2 million so early? (I understand that you have a plan for it, but take it one step at a time. Under-promise, over-deliver)

I get that the plans are big, but you have very little (although admittedly encouraging) value production at the moment.

Why not start with one thing at a time? Focus on achieving one of the many goals of Banx. Put all of your effort into having one stellar platform and as it succeeds put the money back into the business and raise funds when you have a foundation to work from.

There is no reason for anyone to think that you will turn this company into what it aims to be. There are so many startups in every field that fail, even more so in the crypto space. You present your company in a way that makes you seem like you are ignoring this reality and I do not see a back-up plan in case of under-performance.

Give us 1 good platform, you clearly have the funds to sustain and focus on, let's say, turning banx.io into one of the big players in the exchange business.

By requesting the money this early, you place all the risk on the investor. That is not indicative of someone who is willing to put their life and soul into a business. Add on to that the wealth of other companies you have opened in your career and are no longer working on (maybe I'd go as far as saying abandoned) and it makes for a lot of worry and doubt for the investor.

I would like to reiterate my position that I want this to succeed and I want to believe that you plan on sticking to this until the bitter end. I am only pointing out that by your own hand best case scenario:

- You're giving the wrong message and raising needless red flags while also somewhat inappropriately allocating risk (or at least perception of risk)

worst case:

- You are trying to get investors to jump in to a very elaborately planned pump and dump

Thank you for any and all response.

You need to watch some of the videos here: http://banxcapital.com/blog

you have missed a major part of our plan by asking why not focus on one specific thing.

My goal is to bring 50,000 new people into crytpo, through my Internet marketing and affiliate relationships. 50,000 new people who need to lear from scratch. Those people will be offered these services which make it easy for them to use. Those services will be offered by me, someone, who they already know like and trust. 

I have no interest in making banx.io the biggest exchange in the world. (great if it happens organically but not part of the bigger picture plan). My plan is to bring brand new people into crypto and offer them a range off solutions as a one stop shop.

Win / win on both sides.

To answer your questions about 2.2 mill. If you read the $$ break down you will see all of the costs there, personally I don't view $2 mill as a lo of money to raise.

I don't view i like you do re the investor. 1/3 of the money is going into mining that get raised, as an example, the investor can see where all the money is going to be spent. based on that they will invest.

Hope this has helped more mate

[MarkLyford]

i like this but i want to know how much the dividend would be % wise....when will you have that info?

All projections are in here: http://banxcapital.s3.amazonaws.com/Banx_Capital_Prospectus.pdf