Author Topic: Banx, future plans and BTS  (Read 5451 times)

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Offline HeySteve

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

Offline Akado

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You want to achieve 50k users. Do you have a time frame for that? How much time do you think will take you to achieve 10% of that? Even if that number will be far off in reality which probably will, but I'm interested to know.

Time frame for 5k users

It's kinda pointless but I'm interested to know the timeframe. And also how you plan on achieving it.

I'll be honest, even 5k users would be a real, awesome achievement, let alone 10x that.
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Offline phillyguy

How many subscriptions to banxplatinum have you sold?

How many current subscriptions are there?

If your traders are "reliably generating 16% Monthly ROI with virtually zero risk" why are you spending money selling banxplatinum when you could just be investing that money and earning 16% MOM?

We are about building a community thats why. We have just launched our lower price point of Banx Platinum today to get as many people into that community as possible: http://BanxPlatinum.com/offer

Our traders are doing those numbers but in order o increase the trading pool as one part of our overall plan with Banx we need to sell Banx.

Hope this helps

Can I pay for banx platinum with bitUSD, or BTC - instead of a recurring charge on my credit card until I cancel?
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Offline MarkLyford

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How many subscriptions to banxplatinum have you sold?

How many current subscriptions are there?

If your traders are "reliably generating 16% Monthly ROI with virtually zero risk" why are you spending money selling banxplatinum when you could just be investing that money and earning 16% MOM?

We are about building a community thats why. We have just launched our lower price point of Banx Platinum today to get as many people into that community as possible: http://BanxPlatinum.com/offer

Our traders are doing those numbers but in order o increase the trading pool as one part of our overall plan with Banx we need to sell Banx.

Hope this helps
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Offline MarkLyford

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You have sold Banxshares privately to investors who are not allowed to sell them on the open market for a fixed period of time.
Essentially fixing the price of banxshares. ( this is why you were removed from coin market cap)

What date will all banxshares holders have full control of their banx shares and be able to trade them freely on any exchange they choose?

The standard time frame is 12 months from purchase, or until all Banx are sold. So the time frames vary.

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Offline Empirical1.2

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Under BanxCapital expansion plans, you list BanxBet...

Quote
BanxBet will be a cryptocurrency casino, generating income through gambling. The plan is to partner with a leading online casino, who are developing the back-end software, in a joint venture arrangement.
Running an online casino does present unique challenges – such as risk management – but security will be top priority for BanxBet. This is contrary to most of the current crypto casinos that take a more reactive approach instead of proactive. Further, instead of just focusing on one game, like many dice sites, a range of different games will be offered to appeal to a wider target market.

Presumably this at the very early stages of development but have you considered using the BitShares blockchain?

http://www.forbes.com/sites/jonmatonis/2013/01/22/bitcoin-casinos-release-2012-earnings/

In 2012 when Bitcoin only had an average CAP of circa $70 million & a very small userbase, Satoshi Dice & BitZino did about $30 million turnover.

Though the BTC market is quite saturated now, there are no BitAsset/BTS gambling options yet, so our existing user-base could potentially generate meaningful profits and also attract Bitcoin & regular gamblers because the BTS blockchain can offer provably fair gambling and proof of solvency. 

If you want to take the island burn the boats

Offline phillyguy

How many subscriptions to banxplatinum have you sold?

How many current subscriptions are there?

If your traders are "reliably generating 16% Monthly ROI with virtually zero risk" why are you spending money selling banxplatinum when you could just be investing that money and earning 16% MOM?
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Offline JonnyB

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You have sold Banxshares privately to investors who are not allowed to sell them on the open market for a fixed period of time.
Essentially fixing the price of banxshares. ( this is why you were removed from coin market cap)

What date will all banxshares holders have full control of their banx shares and be able to trade them freely on any exchange they choose?
I run the @bitshares twitter handle
twitter.com/bitshares

Offline santaclause102

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Quote
I realise some people who are part of the BTS community are not fans or myself and Banx
All my critique was never directed towards you as a person but to your products and the way you sell things. You can sell something in two ways, both of which require trust. You can tell them everything you know, the good and the bad (often hard truth that don't look all rosy) or you can try to create an illusion. banxplatinum to mee (certainly subjective) is of the second sort, see https://bitsharestalk.org/index.php/topic,17148.msg244528.html#msg244528

But there is nothing wrong at all with offering anything. Everyone is free to do whatever he / she wants - for you to offer what you do in the way you do and for me to point things out to people as I see them :)  I just think that officially associating Bitshares / CNX with Banx is not desireable for reasons I pointed out above.

« Last Edit: October 19, 2015, 12:55:55 pm by delulo »

Offline xeroc

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I would love to know more about this:
2. Develop a range of products and services to grow the business and community.

Offline Riverhead


Offline MarkLyford

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HI Everyone,

I realise some people who are part of the BTS community are not fans or myself and Banx but I also know the community here are far more realistic, balanced and generally have supported me in a neutral manner over the last few weeks.

As of today I have locked the BCT ANN thread and will be focusing my attentions to this forum and I would like to take this opportunity to talk to the community here more.

I have never been conventional at any time in my life, I setup Banx to achieve specific goals, none of those goals involved ripping people off. The goals with Banx have been simple.

1. Raise funds from private investors by selling Banx.
2. Develop a range of products and services to grow the business and community.
3. Bring as many people into the community as possible. ( First goal 50,000 new people).

So with this in mind I welcome anyone here to ask me anything about the future plans I have and moving forward with Banx.

Best Regards

Mark Lyford
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