Post
Topic
Board Marketplace (Altcoins)
Re: selling 122.37 btc worth of banx shares for btc, sha256mining hardware, or?????
by
runpaint
on 02/01/2016, 12:30:18 UTC
If you can send me more details about the money I can make from the shares I might be able to help you out in a few days, let me know how much you need.



Here is an in-depth topic about Banxshares:

https://bitcointalk.org/index.php?topic=1181883.0



It's only traded on an exchange owned by Banx, and it was delisted from coinmarketcap's rankings after repeated instances of false market data being reported.

Since it is only traded on its own exchange, it's not allowed to be sold below the ICO price.  And the ICO has been going since 2014 (it's 2016 now, for the record).  And they keep raising the price, still not allowing people to sell, which is why there have been several topics here from desperate holders trying to get rid of their shares off the exchange.

There were originally 6 million shares, and they sold for $1 or less at launch.  Then they split the shares, making 12 million, giving holders a cost of 50 cents per share.  But because they completely control their own market, they continued to artificially raise the price instead of cutting it in half.

OP is offering $50,000 worth of shares, but I doubt they would bring $5,000 on a legitimate market.  Maybe $2,000 if he sold fast, before the price steadily dropped to nothing.

Banx has failed to provide much evidence that their dividends come from legitimate and sustainable business.  Just one example:  they advertised all year that one of their business branches was BanxATM, and that a percentage of ICO funds would go to the ATM business.  But after representing for several months that there were already ATMs in operation, they just announced about 2 months ago that they acquired their first ATM.

So where have the dividends been coming from?  If they're ultimately coming from sales of Banxshares, then that is the definition of a Ponzi scheme which will completely collapse and leave all holders with nothing.