Topic: Binance: $BNB The Future of Exchanges. - page 160. (Read 132065 times)
I missed this coin when it was new but on the exchanges right now hopefully it will do good this coming 2018
I noticed hat the price has had no correlation to the burn, the total market cap was reduced but its a crazy market right now, until China's situation settles in terms of media attention regulations and the bitcoin fork is completed, traders are all over the place. (there could have been some buying up to the burn, since price did go up and now some quick selling. Even if no one buys BNB, it will still have value from the constant buyback buy pressure. I am holding my stack of BNB until more seasoned investors move to this space, then the price of BNB should more accurately reflex their true value, and then buybacks will definitely increase the value. Cheers.
Honoring the committment on their whitepaper, binance just burnt 1.5MM$ of BNB tokens.. thumbs up for this nice exchange, looking forward to hear news about their coming DEX.
https://support.binance.com/hc/en-us/articles/115002205552-Binance-1st-Quarter-BNB-Burn-Event
https://support.binance.com/hc/en-us/articles/115002205552-Binance-1st-Quarter-BNB-Burn-Event
Apparently the burn allready happened.... oooh and what effect does it has on the price?
ITS GOING DOWN!
what a joke.
https://etherscan.io/token/0xB8c77482e45F1F44dE1745F52C74426C631bDD52
ITS GOING DOWN!what a joke.
https://etherscan.io/token/0xB8c77482e45F1F44dE1745F52C74426C631bDD52
False promises of Binance
In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?
What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.
They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.
In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?
What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.
They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.
i totally agree with this. WHAT DOES BUY BACK MEAN? !!!!
I will not let binance to take this money so easily. I will be posting an article about this on steemit in some hours
False promises of Binance
In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?
What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.
They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.
In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?
What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.
They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.
i totally agree with this. WHAT DOES BUY BACK MEAN? !!!!
I think it looks like less than $ 1.5 million. They needed to burn more. The prize was reflected very little.
False promises of Binance
In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?
What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.
They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.
In the white paper and Announcement thread binance clearly mentioned they will "Buyback and burn" binance coins every quarter with the 20% of profits generated by them
What i know of buyback is that, head over to the market and use that 20% profit to buy coins.
But instead, they burned coins which wasn't even in the circulation ?
What i know is that 50% (100M) is distributed to ICO participants, 40% to founding team and 10% to angel investors. Instead of buying back the coins they burned their own holdings and took those money which was supposed to be locked for a certain period of time.
They still have the money which should have been used to buy back but they tricked us by burning the coins which was supposed to be locked.
I don't see this as Fair. They were not supposed to use those coins for that period of time.
I'm feeling good about BNB.
I bought some Binance tokens and also have good feelings about it. Bought it at high price unfortunately
The good thing with Binance is, they have a working product. It will surely drive the price of BnB in the future because the Binance exchange has been running for months already. Although they had little bumps here and there, they are still operational. With a lot of international investors backing it, I do think BnB is going to be a future 10-100x coin.
I think you are right, especially with the buy back and burning of their coin. Add this to the fact that the exchange is expanding with more coins, many will want to buy and use BNB to reduce their trading fees even further.
The good thing with Binance is, they have a working product. It will surely drive the price of BnB in the future because the Binance exchange has been running for months already. Although they had little bumps here and there, they are still operational. With a lot of international investors backing it, I do think BnB is going to be a future 10-100x coin.
Article. Bnb is mentioned to get more utilities:
https://www.linkedin.com/pulse/binance-q1-recap-changpeng-zhao/
https://www.linkedin.com/pulse/binance-q1-recap-changpeng-zhao/
In my opinion price should go up after 18 October.
Let's see what happens.
Let's see what happens.
then suddenly exchange binance has become the center of attention. Sure and the holders of BnB tokens everything will be fine...
people realise, including me, they rnt gonna buy back. they allready done that. Nice waste of time for anticipation. Including seeing my profits vanish and sell for a measly profit. im so pissed of.
The calculation include BNB 50% discount but does not include the deposit/withdrawal fee which may varies from coin to coin.
When we buy and sell we pay in BNB, thus, binance will always have BNB to burn at any time.
To pay for their operation, they may need to sell off the BNB for cash. or pay staff with BNB , the staff may later have to sell some BNB to BTC to CASH in order to pay for their bills.
I wonder how the calculation of 986,000 bnb calculation is done. at what price BNB is cashed out by binance
Let do an inverse calculation of my previous calculation of 500,000 BNB
986000 BNB / 500,000 = 1.972 ratio
So total daily volume is USD 197.2 million
Does it applicable across exchange, can we determine bitfinex exchange profit base on binance profit.
price is correlated to exchange volume (indirectly correlated to BTC price). If binance trade goes up to USD400 million per day, we should expect the price of BNB to be doubled.
See how price goes after Communist party meeting.
maybe they also have some BNB with them waiting to cash out
>>
When we buy and sell we pay in BNB, thus, binance will always have BNB to burn at any time.
To pay for their operation, they may need to sell off the BNB for cash. or pay staff with BNB , the staff may later have to sell some BNB to BTC to CASH in order to pay for their bills.
I wonder how the calculation of 986,000 bnb calculation is done. at what price BNB is cashed out by binance
Let do an inverse calculation of my previous calculation of 500,000 BNB
986000 BNB / 500,000 = 1.972 ratio
So total daily volume is USD 197.2 million
Does it applicable across exchange, can we determine bitfinex exchange profit base on binance profit.
price is correlated to exchange volume (indirectly correlated to BTC price). If binance trade goes up to USD400 million per day, we should expect the price of BNB to be doubled.
See how price goes after Communist party meeting.
maybe they also have some BNB with them waiting to cash out
>>
assume $100 million daily volume. 1 quarter is 120 days , 0.0005% exchange commission, profit rate = 20%
total revenue per quarter 12,000,000,000
Total commission :- 6,000,000 (gross revenue for binance per quarter)
Assume: 50% profit for operation.
Net profit = 3,000,000
20% for BNB buy back = USD600,000.
USd600,000 / (average BNB token price = USD1.2) = 500,000 token
So that no of BNB token 100 mil - 0.5 million = 99.5 million
Assume over each quarters, revenue grow, BNB price increase, i think, the max quarterly coin burn will be
around 1-2 million BNB token. Assume 2 million,
50/2 = 25 quarters = 25/4 = 6.25 years to complete finish burning.
Anyway, Binance is growing quite quickly, $80 million current daily volume which is nearly half of the market cap for the coin.
Will this mean when Binance reaches 500 million daily volume we may see a billion dollar market cap for BNB? Who knows?
Does that include the fact that the discount given for trading using BNB as fee payment decreases each year?total revenue per quarter 12,000,000,000
Total commission :- 6,000,000 (gross revenue for binance per quarter)
Assume: 50% profit for operation.
Net profit = 3,000,000
20% for BNB buy back = USD600,000.
USd600,000 / (average BNB token price = USD1.2) = 500,000 token
So that no of BNB token 100 mil - 0.5 million = 99.5 million
Assume over each quarters, revenue grow, BNB price increase, i think, the max quarterly coin burn will be
around 1-2 million BNB token. Assume 2 million,
50/2 = 25 quarters = 25/4 = 6.25 years to complete finish burning.
Btw, i has made this slogan for the slogan campaign:
Binance, we start were others stop.
Unlock the future
Start here.
I think you mean where, not were or we're.Binance, we start were others stop.
Unlock the future
Start here.
Anyway, Binance is growing quite quickly, $80 million current daily volume which is nearly half of the market cap for the coin.
Will this mean when Binance reaches 500 million daily volume we may see a billion dollar market cap for BNB? Who knows?
announcement from binance:
we buy back and burn 986,000 bnb before Oct. 18, 2017
we buy back and burn 986,000 bnb before Oct. 18, 2017
Nice find! I was wondering when they will do the buy-back and burn. It will probably drive up the price now as investors anticipate a pump, and it will pump again after the burn
so when the hell is it happening lol. Million coins is nice pump
i bough 415 bnb at 1.37.... anticipating that pump. lol. To long now lol. I thought it was saturday, realised it was sunday, still didnt happen. 
Allready glad it didnt dumped or anything..
Allready glad it didnt dumped or anything..
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