Topic: Binance: $BNB The Future of Exchanges. - page 156. (Read 131883 times)

One month... no fees implied.
One month of China fud.
One rebuilding month.

STILL 1.5 million burned.

My NEXT quarter prediction:

6 million burned.

@Volant, they are answering more complex questions only an insider would know. These are definitely the binance guys chatting with theirselves here.

How much does it cost to list on Binance?

Kucoin is a copy of Binance with a modified reward system.  Both are incorporated in Hong Kong and both have long-term plans to develop decentralized exchanges.

Kucoin:
- 10% of trading fees retained by Kucoin
- 40% of trading fees distributed to referral program¹
- 50% of trading fees distributed to KCS holders as dividends
- 10% of profit used to buy & burn KCS until total supply is down to 100m KCS²

They plan to slowly reduce the dividends down to 15% of trading fees.
The dividends continue indefinitely, which makes Kucoin Shares look like a security in Hong Kong or USA³

1. https://news.kucoin.com/en/kucoin-will-launch-invitation-bonus-plan-on-1st-october/
2. https://assets.kucoin.com/kucoin_whitepaper_en.pdf
3. https://blog.gatecoin.com/delisting-of-dgd-icn-pay-and-mco-tokens-on-1-november-2017-90c2c45a3cdc

Binance:
- 20% of profit is used to buy & burn BNB until total supply is down to 100m BNB⁴
- BNB is used as a currency to pay trading fees with 50% discount.  

Q3 profit was $7.5m, so they burned $1.5m worth of the BNB they had collected as fees throughout the quarter.⁵
It looks like it will take 10+ years to burn 100m BNB.  

Advantages of Binance:
- The reward system is designed to make BNB look like a currency. They sold 120m BNB in the ICO, but they only buyback and burn 100m BNB. A lawyer might argue that there's no expectation of profit from this action, so it's not a security.
- Binance retains a higher % of revenue.  More money to invest in building margin trading and decentralized exchange.
- As I mentioned in my previous post, BNB has more utility currently.
- The team has decades of experience building exchange systems at their previous company, Bijietech.
- Binance has deep industry connections.  People like Roger Ver, Chandler Guo, Da Hongfei, Matt Roszak, and Vincent Zhou are holding BNB as angel investors.⁶
- Strategic partnership with Quoine, the first crypto exchange to be licensed by Japan FSA⁷

4. https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf
5. https://www.reddit.com/r/BNBTrader/comments/76h441/a_message_from_cz_ceo_of_binance_this_is_why_i/
6. https://www.binance.com/ico_review_en.html
7. https://news.quoinex.com/articles/binance-and-quoine-announce-a-strategic-partnership-to-build-global-liquidity-in-the-crypto-economy

No. Binance is licensed in Hong Kong and keeps their servers in Hong Kong and Japan. They are not affected by Chinese regulations since they are special territories. It's the same as Macau, which is also considered as a special territory even if it is closely associated to the mainland. They do have their own governing body. I have asked that particular question in r/Binance and this was their reply regarding it.

Binance has a soul. Kucoin hasnt..

whats the different between Kucoin and Biance?

Kucoin exchange will overthrow and overcome binance at the start of 2018...

Is BNB belongs to Chinese regulations?

Binance actually has a lot more potential than other altcoin because this is altcoin with lots of community and will definitely grow in the future and my favorite thing about BNB is that they have a private exchange and have very many altcoin are traded

Thats really great, so this token is very valuable and will be more valuable  

Great summary there, Binance is a great exchange and will continue to grow. More coins will be added selectively which avoids sh*tcoins spamming the exchange. Users will realise that the BNB coins will reduce trading fees - and as the price appreciates BNB coin will be a must have coin

Will Binance, add conditional Buy and Sell the way Bittrex has ? That  would be great

I love how you subtle you inserted your ref link in there like a ninja sneaking into Edo Castle. But in regards to your query, it still is a good idea to keep your coins on Binance. They are much more stable than Kucoin and have better support.

Binance coin was the first coin to revolutionize trading in an exchange; it was almost like thinking about bitcoin the first digital currency with which you can pay and receive products and services.

It was the chieftain and many other exchanges will follow this example. In fact, after two months of Binance exchange with its domestic currency, the new KuCoin exchange was born with its domestic currency, much like BnB.

Current Uses:
1. 20% of profit buy&burn
2. pay trading fees with 50% discount
3. pay for Bijietech services
4. pay listing fees
5. vote for community coins

Upcoming Uses:
6. buy into Binance Labs ICOs
7. base currency in BNB markets
8. collateral for margin trading
9. gas for decentralized exchange

BNB is already one of the most useful coins.  There is a positive correlation between the success of Binance and the fundamental value of BNB.

that will come

I trade most of the time on binance. I like it. But one major problem is no stop loss. It is realy important.

Binance does a lot of stuff much better than some of the more established exchanged, the thing I find that really makes a difference though with any exchange is the UI, I don't understand why with all the time and money invested they cannot make a UI that is clean and easy to use, there's often too much crammed in to one place for me.

More likely no one knows the answer