Update on Banx by CoinJournal (that'd be me)
If you guys don't like anything about the article, I'm sure you'll still like the photo.
http://coinjournal.net/mark-lyford-opens-banx-sales-quickly-becomes-worthless/
I think the article is pretty good too. There is a lot about the current stuff (price below a penny, etc) but also includes some old stuff that has resurfaced. If you'll remember, my last run-in with Mark ended with him putting "these are projections" on his BanxCapital site. That disclaimer has been removed, but the statistics have been left up, so I did a little calculating with them.
Enjoy.
If you guys don't like anything about the article, I'm sure you'll still like the photo.
http://coinjournal.net/mark-lyford-opens-banx-sales-quickly-becomes-worthless/
I think the article is pretty good too. There is a lot about the current stuff (price below a penny, etc) but also includes some old stuff that has resurfaced. If you'll remember, my last run-in with Mark ended with him putting "these are projections" on his BanxCapital site. That disclaimer has been removed, but the statistics have been left up, so I did a little calculating with them.
Quote
We also see that Banx.io is claiming 1095 BTC in profit despite only having $19, or 0.0462 BTC in total volume over the last 24 hours, (as of 3/21/16) which has been typical of its usage over the past year. 1095 BTC a year equates to 3 BTC per day or roughly $1248. That means Lyford has been claiming that Banx.io has been pulling in over 6550% in fees compared to his exchanges total volume. 0.1% is a typical exchange fee, so in order to pull in 3 BTC a day, Banx.io daily volume will need to increase to 3000 BTC or about $1,247,190 per day. That would be a whopping 6.5 million percent increase from its current levels.
The site still accepts sign ups for interested private investors though it stopped listing dividend payouts after July 2015.
The site still accepts sign ups for interested private investors though it stopped listing dividend payouts after July 2015.
Enjoy.
thanks for sharing Ian, that article is on point.