Post
Topic
Board Announcements (Altcoins)
Re: [ANN] Banx Shares - Bitcoin profits paid monthly
by
padrino
on 01/05/2015, 12:33:39 UTC
As the developer of the exchange I can tell you there is no way to jump spots or manipulate the books. I am also the only one with access to the systems backend data so if anyone including Mark or Simon or anyone else makes an order it gets put in the book in the same ordering as everyone else. However... yes there is a however... because BANX is actually a private IPO the price is pegged and there are sales that go on all the time all day every day as as more people invest. There is a lot of deals and projects going on that bring in investors and they may or may not be taken from the order book. This is not manipulation its business. There is actually a lot of sales that go on that are not on the order book. So when the sales go past the huge sales of IPO then your orders will get eaten this is because the IPO sales were placed before yours not because the system has any preference what so ever. In fact the system doesn't know or care what the market or user is all orders are treated the same and this is impossible to change. Why... because i designed it that way.

So don''t bash what you don't understand and you are free to trade in the exact same manner as Mark or anyone else hence there is an HTTP and a Websockets api to keep you trading faster than manual entries or use Coinigy which is what I think Mark is using for his trading (not just on Banx.io). This is how trading is done!!!

EDIT: I guess those aren't Marks orders so you have to beat out someone...

I understand what you are doing, and that is what I am bashing (using your word).. You are logging off book orders in the public trade history of the exchange without any indication they are not reflected in the order book...

My only point is some level of honesty with respect to the source of the trades, I gather from your response you have no interest in providing that level of transparency to your investors...

EDIT: This has degraded into defensive finger pointing on both sides, I am all about what you are trying to do and would like to do, I am however not the first person asking this and have heard from a couple of share holders that are also frustrated, but they don't want to speak up because payouts are still coming..

Payouts were also coming right up until the end for some of the largest BTC frauds to date, I don't think that is the case here but why let confusion like this continue when it is simple to address, and provides an opportunity to improve the transparency for all share holders..