Post
Topic
Board Altcoin Discussion
Re: Banxshare scam.. Fake market cap coinmarket
by
MarkLyford
on 17/06/2015, 12:42:12 UTC
We believe in open communication and transparency which is why we are responding to this post.  Thank you for pointing out your concerns but, as we will demonstrate, the suspicions raised here are unfounded.  Our company is completely legitimate, as our significant number of backers will confirm, and we have consistently paid out monthly profits since November 2014.  We hope that any misunderstandings about our legitimacy can be thwarted by way of the following explanations:

We are currently still selling our shares to private investors and we do so at a dollar value rather than a bitcoin value.  So when the price of bitcoin changes, our share price changes. CMC list the price of coins as a bitcoin value and not a dollar value, which makes it look like our price is increasing on CMC but this is actually due to the price of bitcoin declining against the dollar. In addition to this CMC only list the shares that are in the public domain that are available to the public.

Like many companies, our activities on online platforms are limited to a select few.  We have chosen not to use Reddit very often, which we do not see as being any cause for concern.

We are only listed on our own exchange at the moment because no one else has started to list us whilst we are still in the ICO phase. We expect this will change in the future, but it is really up to third parties.  Our wallet is available for anyone to use and add to their exchange on github since our change over to POS.  Our shares were previously available on c-cex but users on their system were involved in a hack to our blockchain, which meant that they had to be moved over to our own exchange for security purposes.

Importantly, our business model is based on a fee-share, which our current investors receive monthly, and where the coin value lies. It might be an unconventional system, but it is no cause for such accusations, and our investors are certainly happy with it.

If anyone still has any concerns, please feel free to contact us directly and we will be happy to provide you with more information.


Mark Lyford