[ANN] Banx - Liquidity Paid Back In From Profits

[BTCMILLIONAIRE]

i worked it as around 0.00008750 btc per share. I dont need to prove anything lol

You NEED to prove everything lol   

[Avaahnaa]

Dividends for the early October payouts received.  Very happy.

[th3joker]

Top notch, bought shares got payout. Can't say fairer than that, will reinvest and looking forward to next months payout.

[nexter]

Honestly if I bust my ass creating 32,000 websites I would want a hell of a lot more than 2 mill per year income.

we were building 500 a day and it was all automated mate we have 120 premium sites that were hand built

haha... back in the day i'll bet i ran across many of those sites, with all those pop-ups!

i love your affiliate savvy. you know how to get things spread out there big time.

[Apraksin]

Dividends recieved

[Cactipsi]

Hey guys if you have the time could you please pop over to http://www.banxforum.com/index.php?topic=21.msg62;topicseen#new and post your payout info there aswell, looking forward to hearing from you all 

[jstew]

payout received just like everyone else, used the payout to buy into more shares

[MarkLyford]

Hi Everyone,

Just to confirm the profit payout was as follows:

Profit Payout Per Share: 0.00009116 BTC / 0.0311 cents per share profit

Best regards

Mark

[Cactipsi]

I got my payout, i am very happy to say the least 

thanks for all the hard work you guys are putting in to make this something special

[Merribourne]

re the $290, no no other reason than my own feeling.

Im personally confident we will see a $1,000 steady bitcoin in the coming months.

In my opinion we need to see bitcoin break $500 and stay above it for a reasonable amount of time before it can be considered a "buy". It's definitely a sell at present looking at the trend but I admire your confidence!

re mining, its a changeable thing, our entire business model is and going into 2015 everything is designed to be fluid.

Re our current mining, we run of wind power so our overheads are very low, we are about to scale up our mining in a new location too

Wind power is a great idea. I guess you are mining as part of a pool because your total bitcoins mined was around 4? Am I right in saying that if you were mining on your own you would have to get bitcoins in multiples of 25?

I'll keep watching the bitcoin price and perhaps make a move when/if we see $500 but for now I can't invest.

[bigmanintown]

re the $290, no no other reason than my own feeling.

Im personally confident we will see a $1,000 steady bitcoin in the coming months.

In my opinion we need to see bitcoin break $500 and stay above it for a reasonable amount of time before it can be considered a "buy". It's definitely a sell at present looking at the trend but I admire your confidence!

re mining, its a changeable thing, our entire business model is and going into 2015 everything is designed to be fluid.

Re our current mining, we run of wind power so our overheads are very low, we are about to scale up our mining in a new location too

Wind power is a great idea. I guess you are mining as part of a pool because your total bitcoins mined was around 4? Am I right in saying that if you were mining on your own you would have to get bitcoins in multiples of 25?

I'll keep watching the bitcoin price and perhaps make a move when/if we see $500 but for now I can't invest.

With regards to the bitcoin price there are multiple views for it... There is talk in our forum of it being good for bitcoin as a whole if the price drops to around $100 as it would mean all the big mining farms are unprofitable so they would shut down and the difficulty would drop enabling the smaller miners to come back in and there would be more adoption in general which would push the price back up again... I am no professional trader but I do know some and looking at their fan graphs they are saying it is a good time to buy at the moment...

Yes we are mining into a pool, there are VERY few people mining solo these days as it is virtually impossible to "win" a block on your own unless you have the computing power of CERN, Google, Apple and Microsoft combined and even then it would still be hard!

My advice is to not just monitor the price yourself but try and find some of the higher level traders and get in touch with them to see what they are doing... As any trader will know money can be made when the market is going down or up, it just depends how you play it.

However with Banx we are VERY diverse so we have a lot of bases covered for multiple eventualities. If mining dies off we will stop and the funds will be diverted to other areas for example... There are many arms to the business and this holds us in a much stronger position than a company purely focussed on mining or any other single element. Diversity is our key strength here at Banx.

Hope that helps

Simon

[Merribourne]

My advice is to not just monitor the price yourself but try and find some of the higher level traders and get in touch with them to see what they are doing... As any trader will know money can be made when the market is going down or up, it just depends how you play it.

Hi Simon, thanks for that info. I'm purely looking at banxshares and bitcoin as a possible long-term buy and hold I don't want to trade them at the moment.

I guess the take away point is that no one knows where bitcoin will be in 1 week, 1 month or 1 year. We're all just taking a position according to our gut feelings or best "guesstimates".

My position is "out" whereas Banx Capital's position is "buy". Out there will be some people who are selling. That's what makes the market, a range of different opinions.

I do wonder whether any miners are managing to make any money at present with the price of bitcoin being what it is. How many are continuing to mine hoping the price will rise?

[jstew]

Hello Mark,

I have been unable to login to my account for the past 2 weeks. I sent an email to support a week ago and I haven't received a response. Any help from you would be appreciated.

ur confirmation email has been resent

[bizzyb]

Hey Banx team, quick technical question.
Every time I try to send Banx, the wallet crashes and doesn't send.
Wallet is encrypted, password is correct.
Have installed a fresh wallet on a completely different PC, replaced the wallet.dat, and same again, try to send, enter password, wallet crashes.
This is on Windows.
Any ideas please?

[jstew]

Hey Banx team, quick technical question.
Every time I try to send Banx, the wallet crashes and doesn't send.
Wallet is encrypted, password is correct.
Have installed a fresh wallet on a completely different PC, replaced the wallet.dat, and same again, try to send, enter password, wallet crashes.
This is on Windows.
Any ideas please?

i had an issue with my wallet when trying to send a large amount , how many are u trying to send?  maybe try a small transfer of 5 and see if it does the same thing
ive fowarded ur post to the tech team as well

[bizzyb]

Hey Banx team, quick technical question.
Every time I try to send Banx, the wallet crashes and doesn't send.
Wallet is encrypted, password is correct.
Have installed a fresh wallet on a completely different PC, replaced the wallet.dat, and same again, try to send, enter password, wallet crashes.
This is on Windows.
Any ideas please?

I had a windows wallet problem, and got these instructions from one of the dev guys:
backed up the wallet.dat,
installed the latest version from here http://banxshares.com/get-started/
then open your user folder highlight your name at the top and put this into the bar at the top:
%appdata%\Banx
then delete:
blocks
chainstate
database
.lock
db.log
debug.log
***********but be VERY careful not to delete wallet.dat ************

then make a file in that folder called banx.conf and put this into it:
addnode=188.226.203.10
addnode=188.226.199.118
addnode=107.170.89.158
addnode=107.170.17.7
addnode=128.199.219.57
addnode=128.199.222.178
addnode=95.85.17.75

Windows will try and name the file banx.conf.txt  but you won’t see the .txt so it’s important that you have the ‘hide file extensions’ option unchecked in views under folder options in the control panel.
-----------------------------------------------------------------------------------------

I followed these instructions and it sorted my problem

Good Luck

Thanks mate worked a treat.
The wait for the re-sync seemed like the longest time ever ! *phew*

[Cactipsi]

Glad it worked out for you mate, the resync can seem like it takes for ever, hey at least it wasnt the bitcoin blockchain, lol

[MarkLyford]

PROFIT PAYOUT:

Hi everyone just to confirm we paid out our first profit payout 22 days early on the 6th Nov.

The profit payout was: Profit Payout Per Share: 0.00009116 BTC / 0.0311 cents per share profit

100% of the profits from banx.io trade fees were paid out

remember to get the profit payout you need to have your shares in banx.io system for midnight on the 25th of each month (UK time) to be paid out on the 28th of each month.

Thanks

Mark

[Wings1987]

Mark,

Do you recommend storing our shares on the exchange or would you prefer we held them locally?

It is much easier to just leave them on the exchange if you feel development and security are far enough along.

[Cactipsi]

I am sure the security is more than adequate to hold your shares there, but we all know how solid the protection of a personal wallet can be, i would say that one falls to personal preference