Topic: Binance: $BNB The Future of Exchanges. - page 176. (Read 131883 times)

binance‏ @binance_2017  20m20 minutes ago
Hi, we have a system upgrade from 2017/09/07 00:00 (Beijing Time).  The upgrade is expected to last 2-3 hours.
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Wasn't panicked. I like Binance very much by the way and will continue to use it. I feel bad for the newly issued tokens out of China and what I really don't understand is why they're getting killed in price. I would think since ICOs are off the table, Chinese buyers would support the newest coins unless they fear that they are going to be recalled- which they aren't. Very strange.

I think the difficulty with the BNB coin is determining its value. Discounted fees i understand but why would that drive the price of the coin? Whether the coin is $1 or $10, makes no difference for the discount. If I buy $100 of BNB to use for fees, whether I buy one 1 bnb or 50bnb for that same $100 doesn't matter. Besides this, the discount will be gone in a few years and yes, they will be burning coins. If they have to buy the coins with their own profits to burn them, why would they want the coin higher price? I could never quite figure out where the value of the BNB coin comes from. Even with more users, it wouldn't necessarily have to effect the price of BNB. How do you derive the value of BNB?

be patience. it is planned maintance as mentioned.
they won't go too far with this potantial. 

an upgrade is now due and so is the site down. the upgrade should take 2-3 hours.
no fear ... binance comes back even stronger!

Just checked Binance.com  Site seems to be down. I've still got like .75btc worth of stuff on there.

When I get my ass kicked on a coin, I usually get to know its price patterns far better than any other. Oax was this coin for me. Down about 60% on it and it's been hovering at what I hope is a bottom for a week. Since I still like the coin I deploy a simple strategy- I'll buy more at what I think is the low of the trading range and place a sell 10-15% above it. If it takes, great. If it doesn't, I am averaging down. My investment in Oax is 4k usd. Worth about 1600 now. I've successfully traded it five times now buying 2k worth, making on average, 220. Of the 2400 I'm down on Oax. To me, I've had 1100 of the losses back on Oax so I'm effectively only about 30%. That's a reason to only buy coins you believe in. If the trade doesn't work, I don't mind holding the coin and averaging down.

Yeap, it is always like that... those who are saying HODL are ones with low entry or with a great loss

Now try to daytrade to lower your entry price... it will take some time to get back to 2.x level...  

For those too lazy to click:

"Hi Everyone,

In accordance with the recent notice from China PBoC and requests from various government offices, Binance will make the following adjustments:

Per requests from their respective core teams, we will suspend trading and deposit services of the following tokens: HCC, LLT, ELC, BTM, YOYO.  Withdrawal will continue to work.  Each team will announce the refund plan of their tokens.

We will restrict all Chinese IP addresses from trading.  They will continue to be able to visit the user center and make withdrawals.
Binance will perform a system upgrade from 2017/09/07 00:00 (Beijing Time).  The upgrade is expected to last 2-3 hours.  We will suspend registration, login, deposit, withdraw and trading during the upgrade.  We will try to shorten the downtime as much as possible.  The above 2 changes will be in effect after this upgrade.

Going forward, Binance will refocus and redouble our efforts in servicing our international audience, which currently accounts for 82.5% of our user base (according to Alexa).  We will also speed up listing of popular western coins.  We want to thank the communities for supporting us, and will list 5 coins from the voting list.  Details will follow.

As always, thank you for your strong support!

Binance Team

2017/09/06"

VERY much still alive and will continue to grow their exchange.  Don't buy into the fud.  Buy into BNB while it is still low

Eh don't worry about it. Still not restricted by Binance nor is it a Chinese ICO. The dump was primarily because of the #3 Chinese token holder dumping his shares for profit before the Chinese ban.

I bought in at a high of 2.71 as a noob for a couple thousand. Those who said it could go easily to $5 in a week were probably just those who bought in the ICO for a couple cents. To ramp up the price. They will get their karma. When i read these claims is what made me decide to go for it.

I was like, fuck it, this seems like a golden oppurtunity. It was allready bad before this and this is like worst case scenario. And mayb later its gone completely, who knows.

I thought the same, that binance is the future of exchanges. I sent 3 eth to binance and bought BNB around $2.3 each. Now lost about 60% of my money, Haven't sold it yet. I wonder when it will come back to the price i bought at.

Read before writing shit.
https://binance.zendesk.com/hc/en-us/articles/115001444731

I don't believe in binance anymore. China killed all these potentially profitable icos. I don't see any reason to use binance. Its cheaper than other exchanges I know but real deal was making us option to invest on asian icos.

To tell you the truth - I dont know, but the fact is that the situation with BNB is much more serious than I've thought.

Wait, so are you saying that Binance holders are fucked?

It is #14 in the list, and when I was thinking it is a fake couple of posts ago - I now have no doubts that it is authentic, because it is the exact company name and location that I have found in my last post. Seems like somebody was spreading fake info about Binance being in Hong Kong and not under Bank of China jurisdiction. Wake up! Shanghai is mainland China and it is where Binance is registered.

That is a very good question. I mean PBoC did declare that all Chinese ICOs have to return what was raised to their investors, and did not say that there are any exceptions. So, in my opinion, this means that ANS(NEO) and Binance and every other Chinese ICO that ever was have to refund. NEO council has said that investors have an option to either keep their NEO or get refunded at the ICO price, but Binance hasn't said anything on that matter, so doesn't it makes it illegal in China?

There is still a chance that PBoC will reconsider about total ban on ICOs when there will be regulation in place, but when is that going to happen and what will be with Binance until then? 

Also, where did information that Binance is in Hong Kong came from? Who first said it? I did my research and I've found out that BINANCE Limited is registered in Shanghai and not in Hong Kong - which is under mainland chinese jurisdiction unlike HK. Here are some proofs:
1) In this article by Binance it says 'Shanghai' https://binance.zendesk.com/hc/en-us/articles/115001395712-Binance-Gets-VC-Investments
2) Ever noticed '© 2017 Binance.com All Rights Reserved 沪ICP备17028955号' at the bottom of Binance page? Guess what? 沪ICP备17028955号 - is a Chinese registration number, try google it - and here is what you will find: http://www.beianhao.net/IcpBeian/%E6%B2%AAICP%E5%A4%8717028955%E5%8F%B7.html
And if you google-translate the page it says Shanghai all over the place!

You guys have any thoughts?

Given the fact BNB is a coin belonging to an exchanger i cant see it worth a big price unless binance would become a top 5 exchange.
Some clear examples of coins created by other exchanges are DOT and ARCTIC

i still believe in bnb and neo and generally to the chinese market. the respective CEOs will already find a way to keep their coins or their exchanges in life.

so by the way - this is the best time to buy more coins atm 

why not delisting BNB token itself?
BNB itself also had an ICO, with 50% of them to public through ICO.
But $BNB already crashing hard.

Well HCC and ELC were garbage anyway. BTM was promising at the beginning, but there is little hope for it now. But they want to keep WTC, LCR and HSR listed, do you think those 3 might benefit if binance figures everything out?