New Banx Update Video >> http://banxcapital.com/banx-update-6th-july-2015

Hi Everyone,

I have been dealing with an issue over the last few days that has effected people in here. To clarify NO private investors EVER deal with any one else when buying Banx other than me. Existing investors sometimes refer people to me who are interested in buying BUT the person in question ALWAYS deals with me, I do the deals on the shares and I pay the shares out from company wallets. Please make this fact known to others who may not be in here.

These issue are all resolved now and I'm super excited to get the change over to Bitshares going and expanding our plans

Quote from: fav on June 26, 2015, 06:48:51 am

Quote from: puppies on June 26, 2015, 06:26:12 am

Quote from: fav on June 23, 2015, 06:29:35 pm

in fact, 99% of all cloudmining services are ponzi & scam, and you're offerting cloud mining.

could you please post pictures / videos of your farm?

in fact 87.4% of all statistics are made up on the spot.

yeah you're right, probably 95% are scams

however, I doubt they will answer my request. Looks like their miners are made of thin air.

Much better statement fav.  I know its only 400 basis points, but its a much more believable percentage, and its backed up by some evidence.  Evidence pulled from a notoriously shady forum, but the linked post brings up some very good points.

The things that spring to my mind.

If a company sells two products.  Product A, and product B.  I am interested in product A, I have no interest in product B.  Product A seems as if it a legit product that will meet my needs.  Product B has all the signs of being a scam.  I am going to reassess product A in light of what I believe about product B.  I am going to reassess my viewpoint of the company based upon what I know about product B.

I can't imagine a picture convincing me to invest in cloud based mining.  I am less interested in who owns the deed to the miners than in where the hashing power is pointed.  I would be more likely to invest in cloud mining if the company I was paying could point out the blocks they had signed, and also sign a message with their website or company name in it with the same key.

Posts on forums are really cool.  Cryptographic proof is way cooler.

We all have to make up our own minds.

We should wait and see, but I would not recommend investing just yet.

No one is trying ton convince you of anything, Mining is a small part of what we are doing here at Banx. It's simple people either like what we are doing. ByronP who runs banx.io and runs his own DC hosts many of our miners. Moving forward we will be looking to work with genesis mining for cloud solutions once the mining scene improves.

It's a simple concept Banx and I... You either like you what the vision is or you don't . And thats fine, but like I say mining is only a part of what we are doing( and not a very exciting part at that)

Regards

Mark

Hi all,

I am a huge fan of Banx and have been accumulating(more than anybody would recommend ) and following them closely for quite a few months now.
They have a great team and have been extremely responsive and great in breaking things downs in layman's terms for a simple guy such as myself.
Following closely has now landed me here, in the world of Bitshares, after investigating I can honestly say I am intrigued and ready to hop aboard the Bitshares community as well. I am so excited to be here early for Bitshares 2.0! Woot!

Hit me up in the Banx.io chat if you see me, I am Drinkzya.

~NickJames / NickHiggins123 / Drinkzya

Please to meet you Nick, Ill be sure to come into the banx.io chat asap

Quote from: MarkLyford on June 24, 2015, 01:33:53 pm

Quote from: jakub on June 24, 2015, 06:36:32 am

Quote from: MarkLyford on June 23, 2015, 11:26:07 pm

We have some interviews coming out this week which will explain our entire business model and goals and I will be preparing more information for you guys to look over if you wish shortly.

Hi Mark,
I've done some research about Banx Capital and I must say it really looks impressive how much you've achieved in just one year.
However I have some genuine concerns which I hope you'll be able to address in the interviews you mention above.

1. How do you manage to pay monthly dividends if all of your 11 business divisions have come into existence so recently? Are they already profitable? Being a one-year-old startup and already having three offices around the world, for sure you must have relatively huge operational costs. Also, I don't see any financial officer on your team - how do you manage to keep track of all the cash-flows your businesses generate?

2. As the Banx shares are sold privately to individually selected people - how would you explain pretty high daily trading volume on these shares as reported on CMC? What is the rough estimate of the number of shareholders that you have?

[EDIT]: From the discussion on bitcointalk  I can see that BANX trading volume on CMC is currently being investigated for a potential error. But still, if the shares are privately distributed I would not expect to see much trading at all (especially when your existing shareholders should be quite happy with the price appreciation and dividends received - why would they sell on a daily basis?).

And I have another question:
In April this year you announced plans to create a new blockchain for Banx.
I guess your plans might have changed since you decided to join the BTS 2.0 platform but still I wonder how these plans for a new blockchain were related to your existing blockchain. In other words, why did you plan to have a new blockchain if you already had one?

Hi

Thanks for the post.

We pay monthly profits from the businesses running at present, Not all the businesses are currently operational until we are fully funded. (I will go through these in the video and presentations I am doing shortly)

Profits are being paid on earned income from the current activities. Many of the expenses of running the businesses are being covered by my other companies. I am personally invested in the business for well over £100,000 which as I have publicly stated previously will not be taken back until we are fully funded and all Banx shares sold.

Our operational costs are not as much as you may think. We have a full time staff in our UK office and some who work remotely around the world. The other offices in Panama and Hong Kong are virtual offices so costs are next to nothing monthly to run them .

Re financial officer - my PA Zo and business manager Simon run all the financials with our UK based accountants. Once all businesses are operational and we have fully sold Banx shares we will be appointing a full time financial officer (again its an overhead thing and the current team can deal with things at the moment)

Re the ownership question - In order to have profits paid out the Banx shares have to be in our banx.io exchange by the 28th of each month to have payments made on the 30th of each month. Moving forward, at the moment this system will still be in place once we move to Bitshares 2.0. There is an error in the API reporting which our head of tech ByronP is dealing with. The API reports shares sold to private investors and that figure is shown on CMC as the public available amount. once all shares are sold this figure will be the total amount of shares held by the public, not including shares the company hold.  (20% of shares)

All the shares being publicly traded are by people who hold Banx who are not part of our private investors pool and don’t have a lock in period on the shares. When we started we did deals with dev and others to get use going and payments were made in Banx shares. Also for a very short period of time there was the ability to mine Banx Shares, hence people still own and trade them. (As documented in our main BCT thread we stopped mining quickly after as there were major issues with people not doing the right thing)

Re the blockchain question - Yes we did change the blockchain to a PoS system as a result of peoples actions related to the mining mentioned above. As a result all shares had to be sent back into the exchange to be replaced. (We honoured people who did not hit the deadline for shares to be back in on a one on basis for months after)

I hope this answers your questions and please feel free to add me on social media or skype ID mjlyford if you would like to find out more about our plans and my vision for Banx.

Regards

Mark Lyford

I appreciate your answers, Mark. They make sense.
If you've switched to PoS you might want to ask cointelegraph to update their data here.

I would but Ill wait until we switch the Bitshares  then do it

Quote from: MarkLyford on June 23, 2015, 11:26:07 pm

We have some interviews coming out this week which will explain our entire business model and goals and I will be preparing more information for you guys to look over if you wish shortly.

Hi Mark,
I've done some research about Banx Capital and I must say it really looks impressive how much you've achieved in just one year.
However I have some genuine concerns which I hope you'll be able to address in the interviews you mention above.

1. How do you manage to pay monthly dividends if all of your 11 business divisions have come into existence so recently? Are they already profitable? Being a one-year-old startup and already having three offices around the world, for sure you must have relatively huge operational costs. Also, I don't see any financial officer on your team - how do you manage to keep track of all the cash-flows your businesses generate?

2. As the Banx shares are sold privately to individually selected people - how would you explain pretty high daily trading volume on these shares as reported on CMC? What is the rough estimate of the number of shareholders that you have?

[EDIT]: From the discussion on bitcointalk  I can see that BANX trading volume on CMC is currently being investigated for a potential error. But still, if the shares are privately distributed I would not expect to see much trading at all (especially when your existing shareholders should be quite happy with the price appreciation and dividends received - why would they sell on a daily basis?).

And I have another question:
In April this year you announced plans to create a new blockchain for Banx.
I guess your plans might have changed since you decided to join the BTS 2.0 platform but still I wonder how these plans for a new blockchain were related to your existing blockchain. In other words, why did you plan to have a new blockchain if you already had one?

Hi

Thanks for the post.

We pay monthly profits from the businesses running at present, Not all the businesses are currently operational until we are fully funded. (I will go through these in the video and presentations I am doing shortly)

Profits are being paid on earned income from the current activities. Many of the expenses of running the businesses are being covered by my other companies. I am personally invested in the business for well over £100,000 which as I have publicly stated previously will not be taken back until we are fully funded and all Banx shares sold.

Our operational costs are not as much as you may think. We have a full time staff in our UK office and some who work remotely around the world. The other offices in Panama and Hong Kong are virtual offices so costs are next to nothing monthly to run them .

Re financial officer - my PA Zo and business manager Simon run all the financials with our UK based accountants. Once all businesses are operational and we have fully sold Banx shares we will be appointing a full time financial officer (again its an overhead thing and the current team can deal with things at the moment)

Re the ownership question - In order to have profits paid out the Banx shares have to be in our banx.io exchange by the 28th of each month to have payments made on the 30th of each month. Moving forward, at the moment this system will still be in place once we move to Bitshares 2.0. There is an error in the API reporting which our head of tech ByronP is dealing with. The API reports shares sold to private investors and that figure is shown on CMC as the public available amount. once all shares are sold this figure will be the total amount of shares held by the public, not including shares the company hold.  (20% of shares)

All the shares being publicly traded are by people who hold Banx who are not part of our private investors pool and don’t have a lock in period on the shares. When we started we did deals with dev and others to get use going and payments were made in Banx shares. Also for a very short period of time there was the ability to mine Banx Shares, hence people still own and trade them. (As documented in our main BCT thread we stopped mining quickly after as there were major issues with people not doing the right thing)

Re the blockchain question - Yes we did change the blockchain to a PoS system as a result of peoples actions related to the mining mentioned above. As a result all shares had to be sent back into the exchange to be replaced. (We honoured people who did not hit the deadline for shares to be back in on a one on basis for months after)

I hope this answers your questions and please feel free to add me on social media or skype ID mjlyford if you would like to find out more about our plans and my vision for Banx.

Regards

Mark Lyford

Ag that first screen is a projection as you will see in the text above.

We make money and bitcoin from our network of business including mining, trading, and our marketing funnels.

Quote from: Erlich Bachman on June 23, 2015, 03:05:06 pm

Yes, but I don't think that many others are aware.

The more brothers and sisters that take up residence on the BitShares blockchain, the stronger and more secure your business becomes overall.

You sir are savy enough to know a great deal when you see it.  The initial install cost (to be allowed on-board the BitShares blockchain) will only increase over time, as supply of open business slots decreases and voting shareholders become more critical of what business are awarded the honor.

Why would the shareholders want to stifle innovation and stop new fee-paying businesses from joining?
Sounds a bit too centralbanky for my liking.

The effect would be exactly the same as if existing bts businesses grew by an amount equal to the value of this new business.

Wouldn't the profit seeking shareholders do better to invest some of their hefty profits in R&D to increase the maximum capacity of the blockchain?
If the shareholders were to even entertain the idea of preventing new businesses joining the blockchain, then it must be almost at max capacity of 100k transactions.
At an average of $0.05 per transaction in fees, that would be $5000 in fees paid every second.
That's $157B a year in fees.
I'm sure with that kind of capital the transaction limit and blockchain capacity could be increased and witnesses compensated for whatever expense necessary to continue to increase the volume of transactions possible.

There's no such thing as blockchain bloat!
If a fee was paid, a fair transaction has occurred. Remember that the fees are set by the shareholders. If the fee is too low to cover the cost of storage in the blockchain, then its up to shareholders and delegates to raise it.
BitShares is about freedom and arbitrary limits are counter to that.

Welcome Mark!
Thanks for being the guinea pig case study that shows everybody else what's possible with BitShares!

We've got CCEDK showcasing BitShares the orderbook and Banx Capital showcasing BitShares the asset manager.
Who's next?? (Proud of that pun )

Thanks Permie