th3joker
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 10:09:43 AM |
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I think stereotype forgot to log in to his shill account....
Here's what he posted just in case you missed it before he deleted the post:
"If only you peeps would give as much attention and questioning to Mark, on where these revenues for these dividends come from, and what happens when the longest ICO ever, comes to an end, instead of criticising someone who has highlighted why this is a Madoff ponzi in the making.
Two points have been made that need addressing. Someone mentioned that no-one would film themselves and then turn scammy. I suggest you educate yourselves with Danny Brewster and NEO-BEE. The other point was the bigmanintown threatening legal stuff on people. Big mistake there @bigman. Best you actually do it before you lose any credibility you may have left. Here, i challenge you to get this process started......Banx is nothing more than smoke and mirrors, or put another way, a working Ponzi. Sue me."
Wow. This place is nuts. So mid-edit, and i seem to have acquired my very own autoshill poster. Never had another account other than this one for two years. There you go again. Shoot the messenger, cos you cant handle the truth, eh? Wake up people. I just found it strange that you would delete a post, which sounded very like one slyy had posted....
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bizzyb
Legendary
Offline
Activity: 1652
Merit: 1001
Don't look at my signature!
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 10:22:47 AM |
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I think stereotype forgot to log in to his shill account....
Here's what he posted just in case you missed it before he deleted the post:
"If only you peeps would give as much attention and questioning to Mark, on where these revenues for these dividends come from, and what happens when the longest ICO ever, comes to an end, instead of criticising someone who has highlighted why this is a Madoff ponzi in the making.
Two points have been made that need addressing. Someone mentioned that no-one would film themselves and then turn scammy. I suggest you educate yourselves with Danny Brewster and NEO-BEE. The other point was the bigmanintown threatening legal stuff on people. Big mistake there @bigman. Best you actually do it before you lose any credibility you may have left. Here, i challenge you to get this process started......Banx is nothing more than smoke and mirrors, or put another way, a working Ponzi. Sue me."
Wow. This place is nuts. So mid-edit, and i seem to have acquired my very own autoshill poster. Never had another account other than this one for two years. There you go again. Shoot the messenger, cos you cant handle the truth, eh? Wake up people. What exactly is it you think we need to wake up from? It's clear a significant amount has been invested "personally" by Mark to get this project up and running, so I don't think there is any justification in this "ponzi" accusation. Many companies operate as loss making concerns whilst growing and building, using the initial and continuing investment to operate and grow until they become self sustaining. Whilst I don't know this is the case for Banx Capital, it would however seem likely that they are operating under the initial personal investments made by Mark/other founders. How else would it be possible to have such a large network of currently active parts of the project such as www.BanxMint.comwww.BanxTrade.comwww.Banx.iowww.DigitalMoneyTimes.comand the rest of their interests (tbh I've forgotten some of them there are so many) I think, in fairness, your posts are a bordering a bit on the obsessional, and while I know so many of us have been burnt by so many "scams" and failed startups that may well cause you to be so paranoid about this project, I think maybe it is time you either make a concerted effort to visit the Banx team, or speak to Mark, or perhaps just move on. I have visited, in person, to discuss this and other projects with Mark, and this is why 1/3 of my crypto investments are with Banx capital.
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timmyd
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 10:29:06 AM Last edit: July 17, 2015, 11:09:19 AM by timmyd |
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I think stereotype forgot to log in to his shill account....
Here's what he posted just in case you missed it before he deleted the post:
"If only you peeps would give as much attention and questioning to Mark, on where these revenues for these dividends come from, and what happens when the longest ICO ever, comes to an end, instead of criticising someone who has highlighted why this is a Madoff ponzi in the making.
Two points have been made that need addressing. Someone mentioned that no-one would film themselves and then turn scammy. I suggest you educate yourselves with Danny Brewster and NEO-BEE. The other point was the bigmanintown threatening legal stuff on people. Big mistake there @bigman. Best you actually do it before you lose any credibility you may have left. Here, i challenge you to get this process started......Banx is nothing more than smoke and mirrors, or put another way, a working Ponzi. Sue me."
Wow. This place is nuts. So mid-edit, and i seem to have acquired my very own autoshill poster. Never had another account other than this one for two years. There you go again. Shoot the messenger, cos you cant handle the truth, eh? Wake up people. Funny that stereo. Your a hero member that doesnt know you can edit a post without deleting it (Just like i did to correct spelling mistakes). Likley story. Coincidence you and slyy have very similar writing styles. Listen stereo you can leave the thread now or you can continue to damage your reputation as a hero member even further. The readers of this thread are all grown ups and can make educated decisions on weather or not to invest in this business. they dont need your opinions no one will thank you.
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stereotype
Legendary
Offline
Activity: 1554
Merit: 1000
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 11:17:01 AM |
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I think stereotype forgot to log in to his shill account....
Here's what he posted just in case you missed it before he deleted the post:
"If only you peeps would give as much attention and questioning to Mark, on where these revenues for these dividends come from, and what happens when the longest ICO ever, comes to an end, instead of criticising someone who has highlighted why this is a Madoff ponzi in the making.
Two points have been made that need addressing. Someone mentioned that no-one would film themselves and then turn scammy. I suggest you educate yourselves with Danny Brewster and NEO-BEE. The other point was the bigmanintown threatening legal stuff on people. Big mistake there @bigman. Best you actually do it before you lose any credibility you may have left. Here, i challenge you to get this process started......Banx is nothing more than smoke and mirrors, or put another way, a working Ponzi. Sue me."
Wow. This place is nuts. So mid-edit, and i seem to have acquired my very own autoshill poster. Never had another account other than this one for two years. There you go again. Shoot the messenger, cos you cant handle the truth, eh? Wake up people. I just found it strange that you would delete a post, which sounded very like one slyy had posted.... I get that. But me and slyy are just the audible minority who choose not to be silent, while Mark et al, delete posts relating to perfectly valid questions regarding the bot that buys shares on the order book. There are many here who cant wait to see how Mark is going to turn this into the viable business he thinks it should be. Cos as i said, right now, the flow of any value/funds/divs etc, is flowing very Ponzi-like. @bizzyb Why do i care? Cos i dont want to see yet another Bitcoin scandal shit all over this space, and my existing Bitcoin, by expert spin-marketeers like Mark, and choose to delete many posts and/or not answer them. That is a red flag right there. Thats worth waking up to, IMO. Genuine question.....Have you guys seen any form of transparent financial P+L yet, for the last 6 months? @timmyd. Youre grammer is awful. Are you sure your education is allowing you to make the right decisions? I have only one account here. Are you calling me a liar timmyd?
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timmyd
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 11:38:21 AM |
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I think stereotype forgot to log in to his shill account....
Here's what he posted just in case you missed it before he deleted the post:
"If only you peeps would give as much attention and questioning to Mark, on where these revenues for these dividends come from, and what happens when the longest ICO ever, comes to an end, instead of criticising someone who has highlighted why this is a Madoff ponzi in the making.
Two points have been made that need addressing. Someone mentioned that no-one would film themselves and then turn scammy. I suggest you educate yourselves with Danny Brewster and NEO-BEE. The other point was the bigmanintown threatening legal stuff on people. Big mistake there @bigman. Best you actually do it before you lose any credibility you may have left. Here, i challenge you to get this process started......Banx is nothing more than smoke and mirrors, or put another way, a working Ponzi. Sue me."
Wow. This place is nuts. So mid-edit, and i seem to have acquired my very own autoshill poster. Never had another account other than this one for two years. There you go again. Shoot the messenger, cos you cant handle the truth, eh? Wake up people. I just found it strange that you would delete a post, which sounded very like one slyy had posted.... I get that. But me and slyy are just the audible minority who choose not to be silent, while Mark et al, delete posts relating to perfectly valid questions regarding the bot that buys shares on the order book. There are many here who cant wait to see how Mark is going to turn this into the viable business he thinks it should be. Cos as i said, right now, the flow of any value/funds/divs etc, is flowing very Ponzi-like. @bizzyb Why do i care? Cos i dont want to see yet another Bitcoin scandal shit all over this space, and my existing Bitcoin, by expert spin-marketeers like Mark, and choose to delete many posts and/or not answer them. That is a red flag right there. Thats worth waking up to, IMO. Genuine question.....Have you guys seen any form of transparent financial P+L yet, for the last 6 months? @timmyd. Youre grammer is awful. Are you sure your education is allowing you to make the right decisions? I have only one account here. Are you calling me a liar timmyd? Thanks for commenting on my grammer like it matters pal. Who are you the fcking queen? You understood me yes? Job done. You will be eating your grammer in the coming months my friend. Have you called mark? You visited the offices? Didnt think so until you do get lost pal Just stating the obvious here but its funny slyy aint around when you are!!
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bizzyb
Legendary
Offline
Activity: 1652
Merit: 1001
Don't look at my signature!
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 12:39:07 PM |
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I think stereotype forgot to log in to his shill account....
Here's what he posted just in case you missed it before he deleted the post:
"If only you peeps would give as much attention and questioning to Mark, on where these revenues for these dividends come from, and what happens when the longest ICO ever, comes to an end, instead of criticising someone who has highlighted why this is a Madoff ponzi in the making.
Two points have been made that need addressing. Someone mentioned that no-one would film themselves and then turn scammy. I suggest you educate yourselves with Danny Brewster and NEO-BEE. The other point was the bigmanintown threatening legal stuff on people. Big mistake there @bigman. Best you actually do it before you lose any credibility you may have left. Here, i challenge you to get this process started......Banx is nothing more than smoke and mirrors, or put another way, a working Ponzi. Sue me."
Wow. This place is nuts. So mid-edit, and i seem to have acquired my very own autoshill poster. Never had another account other than this one for two years. There you go again. Shoot the messenger, cos you cant handle the truth, eh? Wake up people. I just found it strange that you would delete a post, which sounded very like one slyy had posted.... I get that. But me and slyy are just the audible minority who choose not to be silent, while Mark et al, delete posts relating to perfectly valid questions regarding the bot that buys shares on the order book. There are many here who cant wait to see how Mark is going to turn this into the viable business he thinks it should be. Cos as i said, right now, the flow of any value/funds/divs etc, is flowing very Ponzi-like. @bizzyb Why do i care? Cos i dont want to see yet another Bitcoin scandal shit all over this space, and my existing Bitcoin, by expert spin-marketeers like Mark, and choose to delete many posts and/or not answer them. That is a red flag right there. Thats worth waking up to, IMO. Genuine question.....Have you guys seen any form of transparent financial P+L yet, for the last 6 months? @timmyd. Youre grammer is awful. Are you sure your education is allowing you to make the right decisions? I have only one account here. Are you calling me a liar timmyd? I think this thread deserves a little more maturity, it's pretty childish questioning someones grammar & education whilst at the same time implying scam and calling this project a ponzi etc. You can obtain the companies registered addresses, so perhaps take your concerns up with official channels, which would be an indication of your sincere motivations. It's really quite easy to spend 1 minute posting, anonymously, on an internet forum. Wrt to a P&L, it's unlikely to show anything I can't already make a reasoned judgement of, and that is, like I said, the project is likely still being funded by initial investment from Mark/co-founders i.e running at a loss (This is just IMO) Whilst this is not sustainable long term, it does show the commitment to the project, and does not imply ponzi and I look forward to the new developments coming soon to attract more investment and further exposure. I personally take my dividends in BANX, which is a personal choice, to not only increase my holding position, but also to try to reduce any potential financial implications having that dividend in BTC might cause. You've voiced your concerns (once again) perhaps now those of use who follow this thread for BANX updates, can be left to do exactly that. I think it's pretty clear the crypto crowd there were/are interested in the BANX project are already invested in it, so your energies are essentially wasted.
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waterpile
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 01:12:28 PM |
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Anyone want to buy some 15.8banx for .1 BTC, feel free to pm me ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) Thank you!
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bizzyb
Legendary
Offline
Activity: 1652
Merit: 1001
Don't look at my signature!
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 01:28:39 PM |
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Enjoy watching me get dividends while you continuously watch the BanX marketcap climb.
The marketcap is climbing because no one can sell. Your dividends are paid out because of your original IPO investment. Like a ponzi. No one would openly film themselves and then scam every body, all those people are real.
Hands down the most ridiculous answer I've seen in a while mate. I suggest you go away from crypto investing for a while. ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) If you want to talk with us personally then you can email me at simon@banxcapital.com and I will happily address your concerns. If not then kindly stop trying to slander our company before we get our lawyers involved. You sound like Moolah and Garza when you start the threats with lawyers. And no why would I want to mail you, why not take it publicly? I don't care about you throwing the laughable word slander around since in writing it is called libel, your lawyers would have told you this if you would have any. For your lawsuit to have any basis you'd have to prove me doing actual financial damages to your "company" and your customers aren't even able to trade any. If you had any brains you'd know never once did I mention your "companies" name. I could poke holes in your bullshit threat for hours but frankly I don't have the time to teach kids. You'll happily address any of my concerns. Let's make a bet that I don't think you will. But I'll give you a chance: Provide transparency regarding dividends to back up your claims and discredit mine. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I'm bumping this instead of all the people trying to derail. I own bitcoinlistings.net and my next mission is to do research and write reviews on all top 15 currencies for new traders to see. Banx I know the least about. I ask the tough questions and if you become aggitated because of that I take it as you are afraid of what I'll find because you are invested yourselves but I am going to write an honest review. My goal is to build a site mostly catering towards traders. I label all cryptocoins or companies scams until they can prove otherwise. Banx seemingly cannot prove otherwise. The characteristics for now is that they are most likely a ponzi scheme. But I am only a human and I hope to be wrong for whomever invested. I have few questions before I can investigate Banx in a positive light and it boils down to investors being able to do their due dilligence. Where are the monthly dividends coming from? Here I'd like to see some solid proof. Where is the IPO BTC wallet? This is important to check that it is not going towards buying your own IPO over and over. When is the IPO ending? 12,000,017 total supply 6,888,504 sold so far 5111513 left to sell. Shouldn't be too hard to match fund raised to the IPO wallet and give you credibility and discredit me. Due diligence? Like you expecting people to rely on your 7 day old website and noob BCT account for reliable, credible information? No one would anyone even find your site, let alone rely on the content? Perhaps once you are a reliable, credible source, respected for the work you have done, over you know, maybe more than 7 days, then perhaps these "hard" questions will be taken seriously.
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altcoinUK
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 01:38:10 PM |
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Forgive me for this question, and I am not trolling here nor concerned whether it is a ponzy (sadly I came to the conclusion that there is no point to fight against scams in this environment any more where so many scams exist) and really I am not implying that the foundation of this project is bogus in any way.
The reason I am here is, I support lately a project GadgetCoin and the guys over there try to implement a DAC (decentralized autonomous company) business model using a Delaware based LLC as the frame of the structure. However, their lawyer clearly stated that such securities offering - even they aren't offering publicly the shares in the company - is a clear breach of US securities law. I also called our lawyer in the US who has been representing us for years over there, he is mainly an intellectual property lawyer but the expensive fucker seems competent at all legal matters. Our lawyer confirmed that indeed, offering publicly such financial instruments what GadgetCoin planned and it seems Banx Shares does would constitute a breach of securities laws in US jurisdiction. So (as far as I know) now the GadgetCoin boys are setting up a business in the Caymans to implement this structure, because they are scared to breach the US securities laws. Again, GadgetCoin not even offering this publicly, but since once they mentioned the plan in the public domain, then according to the solicitors it will be seen as illegal public offering. Is this concern valid at all? What Banx Shares does, which is public offering such shares and dividends is an illegal securities offering or not?
Since we don't have such restriction here in the UK, I am just trying to get my head around, and would someone confirm please that is the public offering of private shares or financial instruments with future dividends legal in the US? Thanks in advance for the reply which would be especially great from the owner of Banx Shares since I am sure he has an army of lawyers and carefully mitigated this issue.
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bizzyb
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July 17, 2015, 01:49:58 PM |
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Many companies operate as loss making concerns whilst growing and building, using the initial and continuing investment to operate and grow until they become self sustaining. Whilst I don't know this is the case for Banx Capital, it would however seem likely that they are operating under the initial personal investments made by Mark/other founders. How else would it be possible to have such a large network of currently active parts of the project such as www.BanxMint.comwww.BanxTrade.comwww.Banx.iowww.DigitalMoneyTimes.comand the rest of their interests (tbh I've forgotten some of them there are so many) I'm playing devils advocate in this thread then. Banxmint - drop shipping once order is filled. BanxTrade - ok. Banx.io - ok. Both can be made for under $5,000. DigitalMoneyTimes - WP theme like my own site. No writers no activity. Just to be brutally honest here, you are clueless to the point of it either being embarrassing (for you) or just a clear attempt to FUD/troll this thread. BanxMint - You do realise the inventory has to be produced right? You can't just get a single metal coin minted each time someone orders it. Coin manufacturers demand minimum order quantities - I have done this myself in the past, it is not cheap! These are not generic coins, they are BRANDED Banx physical coins. Security holograms - again, you are showing a complete lack of knowledge and understanding of some really elementary crypto concepts. To protect the asset allocated to the public key of the coin, the private key which is set behind the visible physical key, needs a tamper proof security hologram. BRANDED security holograms are not cheap, from my experience, the minimum production runs are significantly higher than the minimum production runs for physical coins, and are more expensive than the coins themselves based on first batch production runs. BanxTrade/Banx.io - both for $5000? You are living in a dream world. Whilst some white label exchanges are available, Banx.io was built over many years, from scratch by ByronP. I would estimate this is a $100k asset at minimum with significant ongoing costs. www.DigitalMoneyTimes.com - Again, I have no idea what you are talking about, as the evidence is a polar opposite to your highly investigative research! The editor jdebunt, is a highly respected crypto writer and advocate, and new content is released regularly, sometimes several articles per day.
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bizzyb
Legendary
Offline
Activity: 1652
Merit: 1001
Don't look at my signature!
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July 17, 2015, 02:13:00 PM |
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Coin manufacturers demand minimum order quantities - I have done this myself in the past, it is not cheap!
You take orders up to the point of minimum order quantities then you dropship. BanxTrade/Banx.io - both for $5000? You are living in a dream world. Whilst some white label exchanges are available, Banx.io was built over many years, from scratch by ByronP. I would estimate this is a $100k asset at minimum with significant ongoing costs.
I disagree but you can always show me some proof.... Oh wait there are no financial reports at all. So this discussion is a guessing game. But let me play with your logic. They spent $100,000 for an exchange. Because they spent $100,000 it is now worth $100,000 despite it making no money at all! But that's not all.. you say the fact that they have "significant ongoing costs" as another good thing. ![Cheesy](https://bitcointalk.org/Smileys/default/cheesy.gif) www.DigitalMoneyTimes.com - Again, I have no idea what you are talking about, as the evidence is a polar opposite to your highly investigative research! The editor jdebunt, is a highly respected crypto writer and advocate, and new content is released regularly, sometimes several articles per day. So you have a WP site with a journalist probably being paid by article, note probably because we can't check shit. ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) I think we can end the "conversation" here. You clearly are out of your depth. Good luck with your future endeavours.
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bizzyb
Legendary
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Activity: 1652
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Don't look at my signature!
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 02:18:06 PM |
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Forgive me for this question, and I am not trolling here nor concerned whether it is a ponzy (sadly I came to the conclusion that there is no point to fight against scams in this environment any more where so many scams exist) and really I am not implying that the foundation of this project is bogus in any way.
The reason I am here is, I support lately a project GadgetCoin and the guys over there try to implement a DAC (decentralized autonomous company) business model using a Delaware based LLC as the frame of the structure. However, their lawyer clearly stated that such securities offering - even they aren't offering publicly the shares in the company - is a clear breach of US securities law. I also called our lawyer in the US who has been representing us for years over there, he is mainly an intellectual property lawyer but the expensive fucker seems competent at all legal matters. Our lawyer confirmed that indeed, offering publicly such financial instruments what GadgetCoin planned and it seems Banx Shares does would constitute a breach of securities laws in US jurisdiction. So (as far as I know) now the GadgetCoin boys are setting up a business in the Caymans to implement this structure, because they are scared to breach the US securities laws. Again, GadgetCoin not even offering this publicly, but since once they mentioned the plan in the public domain, then according to the solicitors it will be seen as illegal public offering. Is this concern valid at all? What Banx Shares does, which is public offering such shares and dividends is an illegal securities offering or not?
Since we don't have such restriction here in the UK, I am just trying to get my head around, and would someone confirm please that is the public offering of private shares or financial instruments with future dividends legal in the US? Thanks in advance for the reply which would be especially great from the owner of Banx Shares since I am sure he has an army of lawyers and carefully mitigated this issue.
I think these posts below will answer your question Padrino, as you are fully aware you did a deal with an existing holder of Banx direct to get your Banx shares, nothing to do with me or Banx Capital.
Therefore your comments are unfounded.
I have publicly stated we are offering private investors discounts for large purchases of shares which they lock in for at least 12 months. We are concentrating on selling the remaining of the Banx shares to enable us to grow our business and develop our plans. Its a simple thing.
The offer of purchasing shares from a few people last year was a one off offer.
Again you own no share of any company you own a crypto based asset which pays profits monthly.
Maybe you should take up any issues you have with the person you purchase your banx shares from two months ago ?
As you know you per paid profits in BTC last month which make your investment a worthwhile thing. You are free to list your shares on banx.io for sale.
And one last clarification. We are only selling Banx shares to private investors, all shares for sale on the exchange are for sale buy people wanting to sell them. not us.
Firstly, Banx Shares are not a coin. I think its a share issue based on various Bitcoin related businesses using the blockchain as a ledger. I guess this in itself leads to a question why it is on coinmarketcap at all.
From what I can tell, all investors receive their dividends on a monthly basis although there have been some customer service issues in recent times that are being addressed.
Mark Lyford, the CEO, seems to be extremely open about the business model and mechanisms behind it.
I think you're going to have to come up with more evidence to prove this is a scam.
I don't own any Banx Shares but have been following the project since before it publicly launched.
Finally, every single person who works for Banx is public about their identity. Why have you created a new account to make a scam accusation? Seems strange to me. Why not use your main BCT identity?
So it's not a coin, it's an unlicensed security. Yet another red flag that should tell you to stay away. As far as I know, there is no requirement to have a licence to sell shares in your business in the UK. For clarification we have never sold our crypto based banx shares to anyone publicly, hence the reason we are selling to private investors. All Banx for sale on exchanges are people selling their own shares. many thanks We believe in open communication and transparency which is why we are responding to this post. Thank you for pointing out your concerns but, as we will demonstrate, the suspicions raised here are unfounded. Our company is completely legitimate, as our significant number of backers will confirm, and we have consistently paid out monthly profits since November 2014. We hope that any misunderstandings about our legitimacy can be thwarted by way of the following explanations:
We are currently still selling our shares to private investors and we do so at a dollar value rather than a bitcoin value. So when the price of bitcoin changes, our share price changes. CMC list the price of coins as a bitcoin value and not a dollar value, which makes it look like our price is increasing on CMC but this is actually due to the price of bitcoin declining against the dollar. In addition to this CMC only list the shares that are in the public domain that are available to the public.
Like many companies, our activities on online platforms are limited to a select few. We have chosen not to use Reddit very often, which we do not see as being any cause for concern.
We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase. We expect this will change in the future, but it is really up to third parties. Our wallet is available for anyone to use and add to their exchange on github since our change over to POS. Our shares were previously available on c-cex but users on their system were involved in a hack to our blockchain, which meant that they had to be moved over to our own exchange for security purposes.
Importantly, our business model is based on a fee-share, which our current investors receive monthly, and where the coin value lies. It might be an unconventional system, but it is no cause for such accusations, and our investors are certainly happy with it.
If anyone still has any concerns, please feel free to contact us directly and we will be happy to provide you with more information.
Mark Lyford
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altcoinUK
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
July 17, 2015, 03:04:53 PM |
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Forgive me for this question, and I am not trolling here nor concerned whether it is a ponzy (sadly I came to the conclusion that there is no point to fight against scams in this environment any more where so many scams exist) and really I am not implying that the foundation of this project is bogus in any way.
The reason I am here is, I support lately a project GadgetCoin and the guys over there try to implement a DAC (decentralized autonomous company) business model using a Delaware based LLC as the frame of the structure. However, their lawyer clearly stated that such securities offering - even they aren't offering publicly the shares in the company - is a clear breach of US securities law. I also called our lawyer in the US who has been representing us for years over there, he is mainly an intellectual property lawyer but the expensive fucker seems competent at all legal matters. Our lawyer confirmed that indeed, offering publicly such financial instruments what GadgetCoin planned and it seems Banx Shares does would constitute a breach of securities laws in US jurisdiction. So (as far as I know) now the GadgetCoin boys are setting up a business in the Caymans to implement this structure, because they are scared to breach the US securities laws. Again, GadgetCoin not even offering this publicly, but since once they mentioned the plan in the public domain, then according to the solicitors it will be seen as illegal public offering. Is this concern valid at all? What Banx Shares does, which is public offering such shares and dividends is an illegal securities offering or not?
Since we don't have such restriction here in the UK, I am just trying to get my head around, and would someone confirm please that is the public offering of private shares or financial instruments with future dividends legal in the US? Thanks in advance for the reply which would be especially great from the owner of Banx Shares since I am sure he has an army of lawyers and carefully mitigated this issue.
I think these posts below will answer your question I have publicly stated we are offering private investors discounts for large purchases of shares which they lock in for at least 12 months. We are concentrating on selling the remaining of the Banx shares to enable us to grow our business and develop our plans. Its a simple thing.
And one last clarification. We are only selling Banx shares to private investors, all shares for sale on the exchange are for sale buy people wanting to sell them. not us.
For clarification we have never sold our crypto based banx shares to anyone publicly, hence the reason we are selling to private investors. All Banx for sale on exchanges are people selling their own shares.
We are currently still selling our shares to private investors and we do so at a dollar value rather than a bitcoin value.
We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase.
Well, those arguments actually indicate this whole thing is illegal. The arguments of Mark focus on who is the target audience which is quite right since you can offer the privately owned shares and the future dividends of a private company in the public domain only to licensed investors. However, the users of this thread and the Banx Shares investors are not licensed investors, none of them had a license when the Banx Shares financial product was offered and sold to them. Therefore, this offering is illegal just like the GadgetCoin share issue would be illegal if it would be offered publicly to unlicensed investors, isn't? Again, I am just speculating what the answer is and asking, and quoting what US based lawyers say regarding this matter.
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bizzyb
Legendary
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July 17, 2015, 03:10:33 PM |
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Forgive me for this question, and I am not trolling here nor concerned whether it is a ponzy (sadly I came to the conclusion that there is no point to fight against scams in this environment any more where so many scams exist) and really I am not implying that the foundation of this project is bogus in any way.
The reason I am here is, I support lately a project GadgetCoin and the guys over there try to implement a DAC (decentralized autonomous company) business model using a Delaware based LLC as the frame of the structure. However, their lawyer clearly stated that such securities offering - even they aren't offering publicly the shares in the company - is a clear breach of US securities law. I also called our lawyer in the US who has been representing us for years over there, he is mainly an intellectual property lawyer but the expensive fucker seems competent at all legal matters. Our lawyer confirmed that indeed, offering publicly such financial instruments what GadgetCoin planned and it seems Banx Shares does would constitute a breach of securities laws in US jurisdiction. So (as far as I know) now the GadgetCoin boys are setting up a business in the Caymans to implement this structure, because they are scared to breach the US securities laws. Again, GadgetCoin not even offering this publicly, but since once they mentioned the plan in the public domain, then according to the solicitors it will be seen as illegal public offering. Is this concern valid at all? What Banx Shares does, which is public offering such shares and dividends is an illegal securities offering or not?
Since we don't have such restriction here in the UK, I am just trying to get my head around, and would someone confirm please that is the public offering of private shares or financial instruments with future dividends legal in the US? Thanks in advance for the reply which would be especially great from the owner of Banx Shares since I am sure he has an army of lawyers and carefully mitigated this issue.
I think these posts below will answer your question I have publicly stated we are offering private investors discounts for large purchases of shares which they lock in for at least 12 months. We are concentrating on selling the remaining of the Banx shares to enable us to grow our business and develop our plans. Its a simple thing.
And one last clarification. We are only selling Banx shares to private investors, all shares for sale on the exchange are for sale buy people wanting to sell them. not us.
For clarification we have never sold our crypto based banx shares to anyone publicly, hence the reason we are selling to private investors. All Banx for sale on exchanges are people selling their own shares.
We are currently still selling our shares to private investors and we do so at a dollar value rather than a bitcoin value.
We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase.
Well, those arguments actually indicate this whole thing is illegal. The arguments of Mark focus on who is the target audience which is quite right since you can offer the privately owned shares and the future dividends of a private company in the public domain only to licensed investors. However, the users of this thread and the Banx Shares investors are not licensed investors, none of them had a license when the Banx Shares financial product was offered and sold to them. Therefore, this offering is illegal just like the GadgetCoin share issue would be illegal if it would be offered publicly to unlicensed investors, isn't? Again, I am just speculating what the answer is and asking, and quoting what US based lawyers say regarding this matter. I don't speak for the company, but as the legal entities are incorporated in Hong Kong and Panama, I doubt the US has any jurisdiction to say whether it is illegal or not? Also, you are assuming investors are not licensed investors, which is not speculation, it's assumption.
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altcoinUK
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July 17, 2015, 04:07:31 PM |
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Forgive me for this question, and I am not trolling here nor concerned whether it is a ponzy (sadly I came to the conclusion that there is no point to fight against scams in this environment any more where so many scams exist) and really I am not implying that the foundation of this project is bogus in any way.
The reason I am here is, I support lately a project GadgetCoin and the guys over there try to implement a DAC (decentralized autonomous company) business model using a Delaware based LLC as the frame of the structure. However, their lawyer clearly stated that such securities offering - even they aren't offering publicly the shares in the company - is a clear breach of US securities law. I also called our lawyer in the US who has been representing us for years over there, he is mainly an intellectual property lawyer but the expensive fucker seems competent at all legal matters. Our lawyer confirmed that indeed, offering publicly such financial instruments what GadgetCoin planned and it seems Banx Shares does would constitute a breach of securities laws in US jurisdiction. So (as far as I know) now the GadgetCoin boys are setting up a business in the Caymans to implement this structure, because they are scared to breach the US securities laws. Again, GadgetCoin not even offering this publicly, but since once they mentioned the plan in the public domain, then according to the solicitors it will be seen as illegal public offering. Is this concern valid at all? What Banx Shares does, which is public offering such shares and dividends is an illegal securities offering or not?
Since we don't have such restriction here in the UK, I am just trying to get my head around, and would someone confirm please that is the public offering of private shares or financial instruments with future dividends legal in the US? Thanks in advance for the reply which would be especially great from the owner of Banx Shares since I am sure he has an army of lawyers and carefully mitigated this issue.
I think these posts below will answer your question I have publicly stated we are offering private investors discounts for large purchases of shares which they lock in for at least 12 months. We are concentrating on selling the remaining of the Banx shares to enable us to grow our business and develop our plans. Its a simple thing.
And one last clarification. We are only selling Banx shares to private investors, all shares for sale on the exchange are for sale buy people wanting to sell them. not us.
For clarification we have never sold our crypto based banx shares to anyone publicly, hence the reason we are selling to private investors. All Banx for sale on exchanges are people selling their own shares.
We are currently still selling our shares to private investors and we do so at a dollar value rather than a bitcoin value.
We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase.
Well, those arguments actually indicate this whole thing is illegal. The arguments of Mark focus on who is the target audience which is quite right since you can offer the privately owned shares and the future dividends of a private company in the public domain only to licensed investors. However, the users of this thread and the Banx Shares investors are not licensed investors, none of them had a license when the Banx Shares financial product was offered and sold to them. Therefore, this offering is illegal just like the GadgetCoin share issue would be illegal if it would be offered publicly to unlicensed investors, isn't? Again, I am just speculating what the answer is and asking, and quoting what US based lawyers say regarding this matter. I don't speak for the company, but as the legal entities are incorporated in Hong Kong and Panama, I doubt the US has any jurisdiction to say whether it is illegal or not? Also, you are assuming investors are not licensed investors, which is not speculation, it's assumption. All right then. Of course if the companies are in Hong Kong and Panama then the share offering has nothing to do with US securities laws. My understanding was that this is a US venture as Mark is a US based business man. Sorry for bringing up this question here, if the companies are not US companies then my question is completely off topic, and again, sorry for asking this here.
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th3joker
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July 17, 2015, 04:18:05 PM |
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Mark Lyford is based in the UK, it's been mentioned more than once.
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ByronP
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July 17, 2015, 04:25:59 PM Last edit: July 17, 2015, 05:44:52 PM by ByronP |
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Let me clarify a few things since Mark is busy ATM and no I will not be professional as I am off today and aggravated with peoples outlook on crypto in general. Ya there have been a lot of scams but being ignorant and assuming because you don't understand a business, its model, or it's plans that it is a scam is nonsense. I hear the word scam thrown around all too much and I am sick of it. You know what a scam is GAW that was either a scam or a idea by people who are lacking in basic math skills yet no one cared, mcxnow giant blatant scam and no one cared, ... Yet you call Banx a scam? We are not out soliciting people in the forums for cash or anything else. We are a dedicated team of professionals who wish to bring blockchain technology and purchasing power to everyone.
1. Slyy or whatever you'r name is you are an idiot! You have no idea... Banx.io is not some simple script our SQL Server license was more than 5K alone and the system is 100% scaleable. Before becoming Banx.io it was valued at $280k USD so suck it. 2. BANX shares are not required to be registered as we A. aren't required by our jurisdiction B. wish to use blockchain technology which would not be possible with any current type or registered bond, asset, or share as defined by the USA which luckily does not apply to us. Just as USA does not respect bearer bonds which would mean that all blockchain based assets are illegal to anyone with the standard USA mindset. 3. Part of our plan is to enable a free crypto asset market just like bearer bonds did for shares before the USA changed to ensure they can regulate it the way they do everything. Using the blockchain helps avoid the hassles and risk associated with traditional paper assets. 4. The number you have posted for banx shares are wrong as you did not account for shares that are held by owner(s)
I'm probably missing some points but just ask and I will do my best to answer...
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ByronP
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July 17, 2015, 04:41:41 PM |
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We are individually located all over the world.
Mark and a bunch of others are in the UK I am in the USA and other team members are located in the USA and other places as well.
Banx as a company is located in Panama and Hong Kong (and I think 1 other).
BTW: sorry for being crass but as I stated I am sick of the ignorance. Do your research, ask questions, and here's a new approach BE NICE. We are people just like you and don't respond well to accusations especially when they are totally off base and only appear to be crude attempts to discredit our work. We are open and honest people working together to try and make products and services that will hopefully have a positive impact on the world. As long as we are bringing new people into crypto we are happy. You think I made any money off of selling AT to Banx or joining them... NEWS FLASH no it was a huge loss and I get very little for what I do each month but I still do it because this is bigger than me or you, it is about people as a whole. We have so many awesome projects in the works it's hard to comprehend the big picture when you are not part of the team, see all the pieces, and how they all fit together to make an ecosystem of free trade.
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coinmaster222
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July 17, 2015, 09:19:34 PM |
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Banx.io exchange is regulated and Licensed by the IOM Goverenment just like Altbinex.com and the US has nothing to do with them or how they operate.Both adhere strictly to KYC/AML procedure and anti terrorist laws. People will always accuse new exchanges or ventures as scams but dont realise due to US laws they may be the only legal exchanges out there.
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waterpile
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July 17, 2015, 11:04:41 PM |
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People will always accuse new exchanges or ventures as scams but dont realise due to US laws they may be the only legal exchanges out there.
I agree to this, I think there is no single thread here that has no people screaming scam.. selling 15.8 shares for .1 BTC could really use the cash ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif)
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