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Symmetrick

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Quote from: bbc.reporter on July 08, 2022, 11:02:21 PM

I only disagree to the argument that any concept in the cryptospace to create and develop something that is not bitcoin is a scam.

Where did you dug up such arguments in this topic, can be curious?

In this topic, the arguments (on my part) come down to the fact that any current use of cryptocurrency, including bitcoin, is only speculative in nature, which does not fit with what this or that type of coin was intended for. All this is irrelevant until people learn to see cryptocurrencies as something more than just a scheme - buy low and sell high.

Symmetrick

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Activity: 517

Merit: 11957

Quote from: bbc.reporter on July 07, 2022, 09:10:08 PM

I do not disagree with much of your reply. Also you are correct in saying that much of the projects from the concepts have only worked on paper. However, the argument is the same. The concepts are good and they will not die because the cryptospace needs the products, the services and the solutions from those concepts.

What exactly do you disagree with in my examples, and if you disagree, then give counter-arguments for a different use of these types of tokens at the moment. What specifically am I wrong about? I hope you have a little more reason than a position: I don't agree with you - because I don't like it. Wink

Quote from: hugeblack on July 08, 2022, 03:19:22 AM

I thought that in the future they would try to add liquidity into a decentralized platform or BinanceDEX and try to attract people who were not able to verify the identity, but it seems there is no interest in this matter.

And what's the point in that? For example, those traders who speculated on the price of assets or used margin trading will go looking for similar exchanges, but without KYC, fortunately, such exchanges are currently available on the market. If you are a speculator on the CEX exchange, then switching to the DEX is not an alternative. The thing is that DEX is more suitable for token swaps, for example, than for full-fledged trading, when you look at charts, use margin positions, etc. In addition, DEX does not have the liquidity that CEX has, so those who left Binance simply went to other CEXs where there is no KYC.

Symmetrick

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Activity: 517

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Quote from: Rikafip on July 07, 2022, 11:32:20 AM

While its true that current implementations weren't particularly successful, I do think that crypto +gaming combo has future. Main problem so far was that target audience were crypto investors and speculators, rather than gamers. Once that is sorted we will start getting AAA games that are using blockchain to offer more opportunities rather than a buzzword to attract investors. It will take some time though, market is young.

Certainly there is potential. I think developers just need to solve the problem of pulling liquidity out of the project, which leads to a loss in the value of the token and a decrease in capitalization, because players see all this and go to more promising projects where conditions are better. In my opinion, one of the effective solutions would be the following steps:

- At the initial investment, these same investments will be blocked, and it will be possible to withdraw from the game only what has been farmed from the invested funds, and the main funds are blocked for some time and will have a vesting schedule, as in the tokens of new projects, so that widespread unlocking does not was able to bring down the price of the project.

- Mandatory re-investment from farming, that is, part of the interest earned in the game is poured back into the project. Hedge funds do something similar so that the fund always develops and expands, and does not stand still or, worse, decrease.

Such actions will slow down the outflow of funds from the project and will prolong the interest of players in the further game.

bbc.reporter

legendary

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Quote from: Symmetrick on July 14, 2022, 03:26:18 PM

Quote from: bbc.reporter on July 08, 2022, 11:02:21 PM

I only disagree to the argument that any concept in the cryptospace to create and develop something that is not bitcoin is a scam.

Where did you dug up such arguments in this topic, can be curious?

In this topic, the arguments (on my part) come down to the fact that any current use of cryptocurrency, including bitcoin, is only speculative in nature, which does not fit with what this or that type of coin was intended for. All this is irrelevant until people learn to see cryptocurrencies as something more than just a scheme - buy low and sell high.

I did not say it was mentioned by you or that you are one of those people, however, there is this purity test among many bitcoin hodlers that if you fail this test, you will be their example of an enemy of bitcoin. This has occured very recently to Nic Carter. I am not certain if you know him but he has been one of the smartest people who give good arguments based on reality on why we should invest in bitcoin. They cancelled him only because his venture fund invested in a cryptowallet that accepts altcoins hehehe.

KingsDen

legendary

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Goodnight, o_e_l_e_o 🌹

Quote from: Taskford on July 05, 2022, 06:39:05 PM

Quote from: Symmetrick on June 15, 2022, 03:53:47 PM

Binance is already cramped within the crypto industry. It would seem that they already have everything: their own blockchain, and mining pools, and lauchpad, and p2p, and staking pools, and a debit card for offline purchases, etc. This has long been not just an exchange, but a whole combine, but this step takes the exchange far beyond the scope, and if it gets good development, then soon with the help of exchanges it will be possible to call for food delivery and pay for home Internet.
Now, in cooperation with Splyt, you can call a taxi in the Binance mobile app, pay with cryptocurrency for the rental of scooters, bicycles, etc., through Binance Pay.

CZ is so smart doing business and by doing this he can reach more further, He make sure that he got the advantage and do the first thing before other exchange do it. And this is also good with crypto because for having partnership with other platform it also rise up the awareness that crypto is good and services like this exist which they can try.

Binance really make it to be on top and for sure for their success is also a good indication that market will became more healthier.

Cz is technically ahead of his competitors. He is very smart in business and he is using his numerical advantage very well. Some CEOs who has attained to his level will feel relaxed and allow the business running. But Cz is always on his toes making efforts and introducing new business models. Was actually surprised how he signed partnership deal with C.Ronaldo and when you watch the internet space you will understand how he is seriously promoting binance as if it's in the start stage.

It will actually be simple to pay for ride, food, etxlc with coins and this will surely encourage bitcoin usability rather than storing.

bbc.reporter

legendary

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Quote from: Symmetrick on July 08, 2022, 06:54:02 PM

Quote from: bbc.reporter on July 07, 2022, 09:10:08 PM

I do not disagree with much of your reply. Also you are correct in saying that much of the projects from the concepts have only worked on paper. However, the argument is the same. The concepts are good and they will not die because the cryptospace needs the products, the services and the solutions from those concepts.

What exactly do you disagree with in my examples, and if you disagree, then give counter-arguments for a different use of these types of tokens at the moment. What specifically am I wrong about? I hope you have a little more reason than a position: I don't agree with you - because I don't like it. Wink

I only disagree to the argument that any concept in the cryptospace to create and develop something that is not bitcoin is a scam. Similar to the concept of the ICO as a democratized method to collect funding from investors, this is not a scam despite being used for scams. NFTs, a concept for a new medium for art where artists can monetize their work is also not a scam but it can be used for scams.

There is nothing wrong if you do not like it or do not want to accept it. Those concepts, also with the concept for a peer to peer digital cash, will continue to exist despite the people who want them to stop existing.

hugeblack

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Does anyone know why Binance didn't try to get back the users it lost due to mandatory identity verification? Or is that a very small and insignificant percentage?

I thought that in the future they would try to add liquidity into a decentralized platform or BinanceDEX and try to attract people who were not able to verify the identity, but it seems there is no interest in this matter.

In general, I hope that all things will end well. Proving that they have sufficient liquidity in times of crisis is a double-edged sword. Either it expresses a good financial position for the company, or completely vice versa.

bbc.reporter

legendary

Activity: 3122

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Quote from: ?? on ??

Quote from: bbc.reporter on July 06, 2022, 10:16:51 PM

However, the concept still exists seperately and there is a more ideal implementation of this concept than what is presently in the cryptospace. The implementation and the application is not the concept. Similar to the concept of cryptocoins where one implementation is bitcoin. Is this the ideal implementation? It can be argued in one very long thread hehehe.

The government can regulate whatever they want, however, enforcing the rules will be a very big problem for them. They do not have the laws created or the experts to create the laws needed. A simple example is Telegram's token. The SEC declared it a security, however, an anonymous development team forked the project and issued a token also called TON that can also be used by Telegram users hehehe. The SEC cannot do anything. Bitcoin and the cryptospace would be shutdown if they can do anything.

Are there examples of recent trends that are following their concept at the moment, or at least getting close to it?

Recall the most striking trends over the past 2 years:

- DeFi, the concept is decentralization. In fact, many projects are centralized and tokens are reduced to a pump & dump scheme.
- Play-2-Earn, the concept is to combine gaming and cryptocurrencies. In fact, projects are not considered as a game, but as a means of earning money, where users come to work, to earn money. Most users are not talking about any investment or reinvestment in the game.
- Move-2-Earn, the concept is to combine sports and cryptocurrencies. In fact, the problem is the same as in Play-2-Earn.
- NFT, the concept is to combine art and cryptocurrencies, tokenization of art objects, collectibles, etc. In fact, the industry is not flooded with art objects, in its tokenized form, but with various digital garbage, the purpose of which is speculation and money laundering.

That's the whole point of these concepts, which so far only work on paper.

I do not disagree with much of your reply. Also you are correct in saying that much of the projects from the concepts have only worked on paper. However, the argument is the same. The concepts are good and they will not die because the cryptospace needs the products, the services and the solutions from those concepts.

There are some comments in your reply that can also be used against bitcoin. Bitcoin can also be used for speculation, moneylaundering and many other crimes. From the point of view of some people, bitcoin is a ponzi scheme because it is an asset that produces no financial value for the owner. I have also seen some arguments that bitcoin's development is centralized to the lead maintainer in Github. They can argue about anything but our argument is the same. The concept is good and implementations should be created.

Rikafip

legendary

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Quote from: ?? on ??

- Play-2-Earn, the concept is to combine gaming and cryptocurrencies. In fact, projects are not considered as a game, but as a means of earning money, where users come to work, to earn money. Most users are not

While its true that current implementations weren't particularly successful, I do think that crypto +gaming combo has future. Main problem so far was that target audience were crypto investors and speculators, rather than gamers. Once that is sorted we will start getting AAA games that are using blockchain to offer more opportunities rather than a buzzword to attract investors. It will take some time though, market is young.

bbc.reporter

legendary

Activity: 3122

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Quote from: ?? on ??

Quote from: bbc.reporter on July 05, 2022, 07:28:09 PM

Is the concept of crypto a pump and dump scheme?

This is not a concept, but the actual application of cryptocurrency at the moment. Largely.

Quote from: bbc.reporter on July 05, 2022, 07:28:09 PM

Bitcoin is also a victim of this occurrence. Does everyone really accept that bitcoin's price bubbles are not an effect of speculation and price manipulation? Regulations cannot fix this, look at Wall Street. We should accept this reality that people will always buy on speculation.

I reckon that we might have different attitudes on the concept of NFT and ICO because I accept that from this, market speculation will always exist and scams will always be created. However, I do not consider that everything that is not bitcoin is a scam.

Recently I read that proposals have already begun to come in that the NFT industry should be regulated. I agree with this, because at the moment the NFT is a big garbage dump for fraud, including insider trading, wash trading, money laundering, etc. Until the necessary and correct regulation comes to NFTs, they will continue to be perceived by the majority as shitcoins with exorbitantly inflated price tags.

However, the concept still exists seperately and there is a more ideal implementation of this concept than what is presently in the cryptospace. The implementation and the application is not the concept. Similar to the concept of cryptocoins where one implementation is bitcoin. Is this the ideal implementation? It can be argued in one very long thread hehehe.

The government can regulate whatever they want, however, enforcing the rules will be a very big problem for them. They do not have the laws created or the experts to create the laws needed. A simple example is Telegram's token. The SEC declared it a security, however, an anonymous development team forked the project and issued a token also called TON that can also be used by Telegram users hehehe. The SEC cannot do anything. Bitcoin and the cryptospace would be shutdown if they can do anything.

electronicash

legendary

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Quote from: Darker45 on July 05, 2022, 10:46:26 PM

And now with the crypto market falling really hard, the industry has a lot of companies that are having a hard time. A number of them has already succumbed. Some had to lay off workers. Some had to implement extreme measures like freezing withdrawals. Some are barely operating. They all have one thing in common; they all urgently need new funds and new investments coming in.

Here comes the CZ. Lately, it has been reported that Binance CEO eyes '50 to 100 deals' as crypto slump shakes industry. It seems CZ's plate is far from full. It could still accommodate more. It seems this crypto winter season is a perfect time for the man to help stressed crypto companies.

CZ has same plans of FTX Sam Bankman-Fried but CZ wants to get ahead of the services in paying crypto to taxi/delivery. since FTX offer free transaction fee, binance.us also did the same which i hope he does it on binance.com as well, the two could have been competing who stays on top.

buying insolvent lending platforms is likely not CZ's plan, binance is already on top and is trusted as well. concentrating in making crypto adoption will be a way to move forward than buying insolvent lending platform. adopting BUSD or BNB to taxi services will be acceptable start.

Darker45

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And now with the crypto market falling really hard, the industry has a lot of companies that are having a hard time. A number of them has already succumbed. Some had to lay off workers. Some had to implement extreme measures like freezing withdrawals. Some are barely operating. They all have one thing in common; they all urgently need new funds and new investments coming in.

Here comes the CZ. Lately, it has been reported that Binance CEO eyes '50 to 100 deals' as crypto slump shakes industry. It seems CZ's plate is far from full. It could still accommodate more. It seems this crypto winter season is a perfect time for the man to help stressed crypto companies.

bbc.reporter

legendary

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Quote from: ?? on ??

Quote from: bbc.reporter on July 04, 2022, 08:31:47 PM

It appears you are not separating the concept and the market. You can try to consider the medium like how I am trying to. It is a new medium for artists where the can monetize their works through the cryptospace. This will make NFTs the gateway to bitcoin and the whole cryptospace.

Also, of course they are only expectations because everything is still very new. However, should we always say something that is not bitcoin as always a failure?

There is nothing wrong with unlocking liquidity from property someone owns. It is the same as a person who borrows against a Picasso, a Banksy or his house. The choice is his if he wants to borrow against his NFTs or not and it will be his responsibility if he is liquidated.

What is the use of the concept if almost all the use of cryptocurrencies is reduced to a banal pump-and-dump scheme? This is especially true for the altcoin industry. Bitcoin also has a beautiful concept: a means of payment that cannot be seized or blocked, and which occurs without the participation of third parties. But in reality: bitcoin has become regulated, with the possibility of arrest, blocking, and a large number of bitcoins revolves around third-party services. The overwhelming use of bitcoin is speculative rather than a means of payment. But on the other hand, he has such a concept, different than the market one.

Many technologies or individual projects had an interesting concept that would bridge the gap between the crypto industry and everyday life, including various businesses, hobbies, art, cinema, mass media, etc. I do not deny that there have been and will be further attempts to link it. But all these beautiful concepts collide with reality when speculators, participants using borrowed funds, etc. come into the project and begin to parasitize the price of the asset. Until people learn to see cryptocurrency as a technology, and not just a means of earning money, all these beautiful concepts will not get the proper distribution.

Is the concept of crypto a pump and dump scheme? You are not separating the market occurrences from the concept. Bitcoin is also a victim of this occurrence. Does everyone really accept that bitcoin's price bubbles are not an effect of speculation and price manipulation? Regulations cannot fix this, look at Wall Street. We should accept this reality that people will always buy on speculation.

I reckon that we might have different attitudes on the concept of NFT and ICO because I accept that from this, market speculation will always exist and scams will always be created. However, I do not consider that everything that is not bitcoin is a scam.

Taskford

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Quote from: Symmetrick on June 15, 2022, 03:53:47 PM

Binance is already cramped within the crypto industry. It would seem that they already have everything: their own blockchain, and mining pools, and lauchpad, and p2p, and staking pools, and a debit card for offline purchases, etc. This has long been not just an exchange, but a whole combine, but this step takes the exchange far beyond the scope, and if it gets good development, then soon with the help of exchanges it will be possible to call for food delivery and pay for home Internet.
Now, in cooperation with Splyt, you can call a taxi in the Binance mobile app, pay with cryptocurrency for the rental of scooters, bicycles, etc., through Binance Pay.

CZ is so smart doing business and by doing this he can reach more further, He make sure that he got the advantage and do the first thing before other exchange do it. And this is also good with crypto because for having partnership with other platform it also rise up the awareness that crypto is good and services like this exist which they can try.

Binance really make it to be on top and for sure for their success is also a good indication that market will became more healthier.

bbc.reporter

legendary

Activity: 3122

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Quote from: ?? on ??

Quote from: bbc.reporter on June 25, 2022, 12:35:08 AM

It appears that you do not differentiate the NFT market from the concept of a new medium of expression and art appreciation. It is very much similar to those mainstream people who do not differentiate the cryptocoin market from concept of cryptocoins. The market is full of manipulation, wash trading, moneylaundering, however, is a cryptocoin like bitcoin a scam? No it is not but it can be used for moneylaudering, fraud and other crimes.

The artists and the collectors will come to the cryptospace even if we do not like this. Similar to many people who discovered a new type of medium of exchange, there will also be many people who will discover this new type of medium of expression. We have not yet witnessed how big the concept of NFT will be. I reckon this is only beginning and this is getting ready for the next bull market. If you are a speculator, start doing your research. The next millionaires from nothing will be the investors of NFT and the the Defi protocols that support them.

You also say they are only holding NFTs for speculation? I am quite certain many people who are holders of NFTs will disagree with you. They are creating they're own subculture and this will never go away.

http://www.nft.nyc/

It seems that you do not distinguish modern reality from your expectations. Everything that you listed did not happen, but is only the fruit of your own expectations and your own vision of this concept. At the moment, 99% of NFT crap is a scam that nobody wants except for a quick profit. At the moment, NFT technology is used only as an attempt to cash in on your digital property, in an attempt to sell as expensive as possible ... and that's it. This is how the NFT industry seems to be and its main platform in 2021, OpenSea, as the personification of everything that the NFT industry is currently, this perfectly confirms.

By the way, recently a service was opened for issuing loans against well-known NFTs (Crypto Punks, ape board, etc.) with the possibility of NFT liquidation. This is the true purpose of your art, usury, speculation, margin positions and no self-expression, only business.

It appears you are not separating the concept and the market. You can try to consider the medium like how I am trying to. It is a new medium for artists where the can monetize their works through the cryptospace. This will make NFTs the gateway to bitcoin and the whole cryptospace.

Also, of course they are only expectations because everything is still very new. However, should we always say something that is not bitcoin as always a failure?

There is nothing wrong with unlocking liquidity from property someone owns. It is the same as a person who borrows against a Picasso, a Banksy or his house. The choice is his if he wants to borrow against his NFTs or not and it will be his responsibility if he is liquidated.

@Bitcoin_Arena. But did the concept of ICOs, IDOs, IEOs, STOs as a democratized method of funding a project go away? Separate the market from the concept.

Bitcoin_Arena

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฿itcoin for all, All for ฿itcoin.

Quote from: bbc.reporter on June 23, 2022, 11:57:05 PM

I shake my head when some people say that NFTs are just scams. It will be an introduction to all of crypto. There will be a community of users who will care for pictures much more than coins.

I still get super surprised when people still believe in such overhyped tokens or shitcoins even after a having reality check via ICOs, IDOs, IEOs, STOs... you name it.

When you start seeing companies bringing in Icons aka "influencers" or celebrities to try and market something or pull crowds, then that's a very big red flag, Run! This was a common thing during the ICO mad rush.

Let's be realistic for a second. Do you think Ronaldo accepted to a "partnership" with Binance because he believes in NFTs or because he wants to express himself through some damn tokens?

batang_bitcoin

hero member

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My binance account was asked again for a "new customer kyc". Despite being verified already, they've implemented that to my account and I think it was just for the status of being "verified plus" and as well as being eligible for the binance card.
I think it's a good development and they really are trying to cover the whole thing and it's exciting to see where they're heading this way. But this is also going to give hot eyes to the regulators.

bbc.reporter

legendary

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Quote from: ?? on ??

Quote from: bbc.reporter on June 23, 2022, 11:57:05 PM

I shake my head when some people say that NFTs are just scams.

So it is, NFT in its current form is speculation, wash trading, fraud and money laundering. Those NFTs that are now actively sold on the market, for the most part, they are not worth their money, well, they are not worth the hundreds and thousands of ETH that they ask for. In general, the price of many NFTs is based on the so-called concept of rarity and popularity, but these are such subjective concepts that people speculate on them. I will not even give a bunch of reports on how NFT schemes were organized on opensea and what these tokens were used for.

In its current form, people see in the NFT only a speculative component, they don’t care about the technology itself and the possibilities, that’s why the application of the NFTs themselves is such.

It appears that you do not differentiate the NFT market from the concept of a new medium of expression and art appreciation. It is very much similar to those mainstream people who do not differentiate the cryptocoin market from concept of cryptocoins. The market is full of manipulation, wash trading, moneylaundering, however, is a cryptocoin like bitcoin a scam? No it is not but it can be used for moneylaudering, fraud and other crimes.

The artists and the collectors will come to the cryptospace even if we do not like this. Similar to many people who discovered a new type of medium of exchange, there will also be many people who will discover this new type of medium of expression. We have not yet witnessed how big the concept of NFT will be. I reckon this is only beginning and this is getting ready for the next bull market. If you are a speculator, start doing your research. The next millionaires from nothing will be the investors of NFT and the the Defi protocols that support them.

You also say they are only holding NFTs for speculation? I am quite certain many people who are holders of NFTs will disagree with you. They are creating they're own subculture and this will never go away.

http://www.nft.nyc/

Husires

legendary

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The bad thing about Binance is that it does not try to invent technology, but rather follows it, so you find them looking for new things and trying to imitate them, and they are rarely innovative in ideas.

This type of thinking is similar to what Facebook, Google and Apple do, and it is harmful to the industry because monopolistic activity works to weaken competitors and to have all things under the control of the company, not for anything that is a market to achieve maximum profits for the company’s owners.

bbc.reporter

legendary

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@Ratimov. Binance will also compete in NFT creation and distribution. If FTX partnered with NFL goat Tom Brady, Binance partnered with another sports goat Cristiano Ronaldo. I am quite certain the marketing for this will bring more people in the cryptospace through NFT. I shake my head when some people say that NFTs are just scams. It will be an introduction to all of crypto. There will be a community of users who will care for pictures much more than coins.

Proud to be partnering with @binance

Together we’ll give you the opportunity to own an iconic piece of sports history.

I’m excited to take this journey with all of you. Let’s change the NFT game with #Binance.

Source https://mobile.twitter.com/cristiano/status/1539972040291061765

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