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Messages - HeySteve

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General Discussion / Re: Banx, future plans and BTS
« on: October 21, 2015, 09:36:59 pm »
Mark, like inarizushi said, you're not giving straight answers to the important questions. I see much the same pattern in response to Ian's questions. Have you considered a career in politics?

Your entire business strategy appears to be pocketing the difference between huge promises and minor results. Your claim of 16% per month, with zero supporting evidence (yes, I searched the zip files) is simply outrageous. The lack of a satisfactory explanation as to why you're sharing your gold mine at all, never mind with small-fry investors instead of well-heeled professionals, is telling.

To address some of your points:

1) I'm not going to buy your book but nice try. I don't think any less of you for growing plants but there's clearly more to the story.
2) In that case, how about waiting until after the audit to migrate to BitShares?
3) If that dev got paid in BanxShares, I expect he got exactly what he deserved.
4) Don't count on getting $2 (or whatever the fixed price is now) per BanxShare in a free market.
9) The Banx Group (HK)... You mean your virtual office in Hong Kong? Who has access to those shares?

I don''t even know what to say about the option deal. But if your marketing plan is to produce an attention-grabbing trainwreck, it's working.

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General Discussion / Re: Banx, future plans and BTS
« on: October 21, 2015, 01:43:49 pm »
Mark, some follow-ups if you'd be so kind:

  1) How long were you in prison and what were the charges?
Mark >> Two years of a four year sentence for cultivation of cannabis

If you were making a recurring $2m annually from your websites, how did you get into so much financial trouble that you had to resort to a grow op?

  2) How much money has been raised in Bitcoin terms by the ICO and what was the target?
Mark >>  Most of our investment has been made in UKP and USD this number is under $500,000 so far.

Is any data available for how that money has been used or invested? Has any kind of audit been performed on your operations so far?

  3) Was BanxShares based on the Foocoin template?
Mark >> To be honest I have no idea, the dev who did our original wallet was asked to set it up, that dev is no longer around and ultimately didn't do a very good job of it.

You have no idea whether your own dev scammed you by copypasting from a template? Surely the current dev would have appraised you, with a view to pursuing legal action.

  4) Please describe the current state of active Banx projects and explain any shortfalls, ie. 1 ATM of a promised 12 this year, 300 GH/s mining operation of a promised 2 TH/s, etc. Please mention which projects have yet to be commenced.
Mark >> As previously explained we are way behind on our plans due to not selling all Banx Shares. We never promised anything we projected based on being able to sell all banx. We got up to 90 Th of mining, that equipment is being sold off (They were Spondoolies SP31 miners) and based in the US. We have Banx Mint, Banx.io, Banx Cards, Banx Trade up and running at the moment in addition to our information and membership products.

Wasn't your funding goal $10m? Given you only achieved 5% of that, do you believe your further projections-not-promises are credible?

  5) You mentioned moving your operations to the Isle of Man, has this happened yet?
Mark >> This was last year and didn't happen due to IOM not being ready for crypto companies, we are in HK, Panama and the UK now

So there's a 12 month expiry period on your words? Why didn't you investigate whether the jurisdiction was suitable before discussing the move publically?

  6) 16% monthly ROI with virtually zero risk? Please provide trading record and specify the venue where these trades are being conducted.
Mark >>  This has been done in the response thread to Ian DeMartino here: http://digitalmoneytimes.com/banxshares-was-removed-from-coinmarketcap-rankings-and-not-because-of-ponzi-accusations-the-official-response-from-mark-lyford/

Which link in particular is your trading record which specifies the venue?

  8.) Why was the company JVZoo included as an asset of BanxCapital in the documentation sent to Ian DeMartino?
Mark >> JVZoo is not our company is is the affiliate platform we use for product sales.

So, you're now funding BanxCapital through online marketing ventures? Why wasn't that discussed in the prospectus?

  9) Please explain how holders of BanxShares may sell them, at this current time.
Mark >> They are able to sell them on banx.io if they don't have pre agreed hold periods.

So the initial holding period was 12 months from intial purchase? Was that timeframe subsequently increased? And why did you claim 95% of BANX are traded directly through you in exchange for money wires? Do you plan to continue selling BANX personally?

12) Roughly what percentage of BanxShares is currently held by yourself, BanxCapital and its employees?
Mark >> I have said from day one that I own 20% of them , the company owns 20% of them.

True, I remember reading that. So which entity holds all the unsold BANX? I estimate the unsold constitute around 50% of total supply, is that figure roughly correct?

-

I'd also like to ask whether the reclassification of BANX on CoinMarketCap has influenced your marketing. Have you updated your online marketing to reflect the dramatic fall in the market cap?

-

edit: typo (claim) and smiley again

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General Discussion / Re: Banx, future plans and BTS
« on: October 21, 2015, 01:09:03 pm »
Our traders can and have proven average 16% per month since January as already shared. We dont promise anything we are merely stating what we have done

Link please.

The copy on BanxPlatinum assures at least 16% per month:

“Reliably copy the way our traders generate over 16% monthly ROI with virtually zero risk.
...
This will allow you to replicate our exact trading strategy, and immediately start seeing results like the ones above.”

We offer a trading pool of investment to members, therefore that trading pool increases our ability to trade more
Why attract funds for a trading pool (which isn't mentioned in the copy) when you could simply use existing capital? There's some left from the ICO, right? And surely you could grow your pool faster by partnering with hedge funds and the like, why attract relative pennies from crypto newbies?

4
General Discussion / Re: Banx, future plans and BTS
« on: October 21, 2015, 10:56:42 am »
Oh, one more thing... If BanxPlatinum promises subscribers will “reliably… generate over 16% monthly ROI with virtually zero risk,” then why pursue anything besides this fantastically profitable venture? And why dilute your profitability by sharing the secret?

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General Discussion / Re: Banx, future plans and BTS
« on: October 21, 2015, 09:27:10 am »
Hi Mark,

I have some questions and requests for information:

  1) How long were you in prison and what were the charges?
  2) How much money has been raised in Bitcoin terms by the ICO and what was the target?
  3) Was BanxShares based on the Foocoin template?
  4) Please describe the current state of active Banx projects and explain any shortfalls, ie. 1 ATM of a promised 12 this year, 300 GH/s mining operation of a promised 2 TH/s, etc. Please mention which projects have yet to be commenced.
  5) You mentioned moving your operations to the Isle of Man, has this happened yet?
  6) 16% monthly ROI with virtually zero risk? Please provide trading record and specify the venue where these trades are being conducted.
  7) The mining operation, where is it based, what is the electricity cost there and what hardware is it using?
  8) Why was the company JVZoo included as an asset of BanxCapital in the documentation sent to Ian DeMartino?
  9) Please explain how holders of BanxShares may sell them, at this current time.
10) Please provide a timeframe for the migration to BitShares.
11) Will there be any restrictions on the trade of BanxShares should they appear on the BitShares exchange?
12) Roughly what percentage of BanxShares is currently held by yourself, BanxCapital and its employees?
13) I would also request a timeframe for your projected 50k new entrants. As a general principle, I would suggest always providing a time component for projections.

Thanks for your time.

edit: remove "8)" smiley

6
Technical Support / Re: New Tutorial Video - How bitUSD Works
« on: October 18, 2015, 05:21:02 pm »
Nice work, Chris! A great introduction.

I'd also like to see a more in-depth video. Something which covers mf-tzo's pointsp lus margin calls, economic incentives for the long and short sides and so on. I'd also like to learn how to create a Smartcoin.

A video about user issued assets and their major applications would also be fantastic.

7
Thanks for the guide. I'm new to BTS but managed to get it working, as far as I can tell. Any way to check? And do I need to do anything but wait for a day to get added to the active witness list?

A helpful addition to the guide would be the way to open witness_node from the console. I  didn't know so did it through Windows by running the .exe as Administrator, it crashed with an access error otherwise.


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