A Question regarding the Binance 2020 New year Message

passwordnow

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Quote from: 100bitcoin on March 04, 2021, 07:18:17 AM

Those, who boarded the BNB train, when I created this thread, have now made banks. Unfortunately, I missed the train. Cry

Well, that's too bad. You're the one who took notice of it earlier than everyone. If you have just evaluated it that you should invest on it early, then you're raking your own bank lately.
But that's it. Sometimes you win and lucky and sometimes not. Trust what you're looking for and your instinct with backup of research and knowledge towards projects like what you did a few months ago.

100bitcoin

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Those, who boarded the BNB train, when I created this thread, have now made banks. Unfortunately, I missed the train. Cry

Furryball

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So this is the moment of truth, this is where many will understand that real use cases are different, binance coin and all other exchange coins are useless outside their exchange platform, the only use cases of exchange tokens are on the exchanges itself, if binance quit business today or just failed the bnb token goes down

masterrex

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Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations - https://www.binance.com/en/blog/419417682154909696/Binance-2020-New-Year-Message-Building-Foundations--. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

I'm a binance user since 2017 and also using BNB for my trading fees, so far im not encountered any problem in the span of time that i was using binance. for me it's one of the most trusted crypto exchange in the entire industry, as far as i know BNB was back by real products and services which is the crypto exchange operation globally. everyone knows that Binance is a thriving exchange and it was not a secret , BTW the crypto exchange industry is very important for liquidity how can we trade our precious bitcoin's if there was no existing crypto exchange in the industry. so it has a specific function in the industry, that's why i believe that CZ is sincere about all what he wrote on that blog.

Lagduf

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Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations - https://www.binance.com/en/blog/419417682154909696/Binance-2020-New-Year-Message-Building-Foundations--. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

They are all backed by BNB but that doesn't mean if those research and projects that have already shipped by binance in the past were getting funded with the binance token. This is a very important part when the company could started to generate regular revenue from its product.
Binance doesn't need new token as all of the research and development progress already covered from binance revenue

https://www.theblockcrypto.com/post/43564/binance-just-crossed-1-billion-in-cumulative-profit

enough money combined with skilful developer will bring you active product.

Aabcde

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Quote from: muratsink on January 03, 2020, 10:49:38 AM

Quote from: Artemis3 on January 03, 2020, 10:37:10 AM

Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations -. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

Do you think someone would bother making a coin and then support another? Of course they are going to push their coin as much as they can. Do you think BNB would have demand if they removed the "discount" of Binance's fees? I don't think anyone needs BNB for anything practical beyond trading it or keeping some to lower their Binance operations. Get out of Binance and its useless.

Think of it. What happens if Binance disappears tomorrow, Mt.Gox style? Do you seriously expect BNB's value to hold? bitcoin would.

Sure it might get some success, and even manage to convince some merchants to accept it, but don't be fooled, its no Bitcoin its as weak and dangerous as many other altcoins. Big company or not behind makes little difference, when they fall, they fall the same.

No one can make Bitcoin disappear.

Every owner always try to said their project is better than other and its happen what Binance owner said, he will doing anything how to make investor keep trusted with his coin although have lower price, he want many invest reinvesting with his coin BNB, but I never with any one have give broken promise.

Yes, this is absolutely right. This is only part of the meaningful words that Binance needs as many investors to buy BNB as much as possible. Because all words will not be meaningful if they do not correspond to reality. In fact, bitcoin is better and far superior to BNB.

Kotone

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IMO, Binance only focuses on their growth alone. Of course they can't be bias on other projects which are listed on their exchange that would be flagged as shilling. As an exchange platform they should act neutral on other projects. Maybe that's a bit odd to see binance shilling some projects. But Its no problem if they bit support those who under their wing I mean is Binance chain. Of course they help bnb grow by adding liquidity on their chain.

plast555

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Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations - https://www.binance.com/en/blog/419417682154909696/Binance-2020-New-Year-Message-Building-Foundations--. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

Its obvious that no one supports other tokens if they already have their own native token. If you beleive in the Binance as exchnage then you should not be worrying about the BNB since the profit from all of their businesses would be counted to the quaterly BNB burn till the supply reduces to half. I hope they will find a more usecase or explore other options before the trading fee discounts for using BNB ends. Their ecosystem has expanded a lot in last two years like launchpad, Labs, Futures, Margin trading etc more than 180 projects supporting the BNB.

Dickiy

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binance does not only support BNB-based projects but as far as I know binance is supported by other tokens such as most of the tokens ethereum, NEM, USDT etc. which only supports BNB-based projects only at binance.org

Yudhisthir

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CZ is an expert in telling stories. He openly promotes decentralization and calls for competiton. But whatever he does do promotes binance as a business.
He can be compared to Steve Jobs who too was primarily focused on making his company a success. The leadership of CZ is impressive as they are able to maintain the number one spot even in such fierce competition.

100bitcoin

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I think I could not communicate my question properly. I am not doubting BTC's superiority over BNB. I am simply asking, whether everything done by CZ is backed by BNB?

kryptqnick

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Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations - https://www.binance.com/en/blog/419417682154909696/Binance-2020-New-Year-Message-Building-Foundations--. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

I don't follow Binance closely as well, but I do respect it as an exchange. It seems to have an excellent customer-oriented approach. I was especially surprised when that big hack occurred, and they offered full reimbursement to their users. As for your question, from what I saw, it seems that Binance only has BNB. It's true that it would not make much sense to make another token, because it could end up taking a part of profits from BNB (the coin rose in price massively) and divide the community for no reason. But the article mentioned partnerships that resulted in BUSD and BGBP. So technically, these are also Binance coins, but since they represent fiat, I don't think they count.

muratsink

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Quote from: Artemis3 on January 03, 2020, 10:37:10 AM

Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations -. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

Do you think someone would bother making a coin and then support another? Of course they are going to push their coin as much as they can. Do you think BNB would have demand if they removed the "discount" of Binance's fees? I don't think anyone needs BNB for anything practical beyond trading it or keeping some to lower their Binance operations. Get out of Binance and its useless.

Think of it. What happens if Binance disappears tomorrow, Mt.Gox style? Do you seriously expect BNB's value to hold? bitcoin would.

Sure it might get some success, and even manage to convince some merchants to accept it, but don't be fooled, its no Bitcoin its as weak and dangerous as many other altcoins. Big company or not behind makes little difference, when they fall, they fall the same.

No one can make Bitcoin disappear.

Every owner always try to said their project is better than other and its happen what Binance owner said, he will doing anything how to make investor keep trusted with his coin although have lower price, he want many invest reinvesting with his coin BNB, but I never with any one have give broken promise.

Artemis3

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Quote from: 100bitcoin on January 03, 2020, 10:24:41 AM

CZ wrote a long piece on Binance blog under the title Building Foundations -. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

Do you think someone would bother making a coin and then support another? Of course they are going to push their coin as much as they can. Do you think BNB would have demand if they removed the "discount" of Binance's fees? I don't think anyone needs BNB for anything practical beyond trading it or keeping some to lower their Binance operations. Get out of Binance and its useless.

Think of it. What happens if Binance disappears tomorrow, Mt.Gox style? Do you seriously expect BNB's value to hold? bitcoin would.

Sure it might get some success, and even manage to convince some merchants to accept it, but don't be fooled, its no Bitcoin its as weak and dangerous as many other altcoins. Big company or not behind makes little difference, when they fall, they fall the same.

No one can make Bitcoin disappear.

100bitcoin

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Activity: 861

Merit: 423

CZ wrote a long piece on Binance blog under the title Building Foundations - https://www.binance.com/en/blog/419417682154909696/Binance-2020-New-Year-Message-Building-Foundations--. Reading the whole piece, it seems to me that CZ has a true long term vision, which, I feel, is similar to Steve Jobs. But, as I dont follow, all Binance projects closely, it is difficult for me to properly evaluate his claims in the blog. Hence, I am putting forward a question to the community...

Are all the projects by Binance backed by BNB only or they have some other token as well?

Topic: A Question regarding the Binance 2020 New year Message (Read 203 times)