Binance- CZ wanted to orchestrate a bitcoin re-org? - page 2.

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

Quote from: franky1 on November 18, 2022, 11:16:38 AM

he had $450m of value in FTX as FTT tokens which he sold and then whistleblew. so binance is solvant(not at loss) due to FTX

Had he bought $450M worth of FTX in May 2019?

Quote from: franky1 on November 18, 2022, 11:16:38 AM

blackhatcoiner. your wearing the foil cap..

Ugh...

Quote from: franky1 on November 18, 2022, 11:16:38 AM

the video is a old video..

2019 isn't old to me.

Quote from: franky1 on November 18, 2022, 11:16:38 AM

him saying the community(people outside of binance) asked him if he could do it.

Don't twist the news. The community might have asked him if he could do it, but the rational response to such question isn't "we're afraid it might hurt the credibility". It's a "No". They, CZ and his team, were seriously considering executing an attack to reverse the attacker's transaction.

Quote from: franky1 on November 18, 2022, 11:16:38 AM

take the tin foil off, take the social media apps off your device.

Now that I have you as a ghosting audience? Never. Roll Eyes

elda34b

sr. member

Activity: 910

Merit: 351

If they wanted to do it they'd probably do it stealthily. The backlash would be huge and the consequences would be massive for their own business. Might as well create their own fork if needed. Less cost with probably more benefits compared to attacking the whole network because one of their business got hacked.

Tytanowy Janusz

legendary

Activity: 2156

Merit: 1622

It was after kucoin hack or binance hack in 2020/2021.
The idea was proposed to CZ and I think he respond without thinking too much. It was not seriously considered. Binance give up on this idea saying that it will not be healthy for crypto industry, not that they are able to do it.

franky1

legendary

Activity: 4410

Merit: 4766

Quote from: BlackHatCoiner on November 18, 2022, 11:07:25 AM

This video precisely demonstrates why you shouldn't trust these dick heads who're chairmen of the most popular exchanges. I don't know if his money was stolen,

he had $450m of value in FTX as FTT tokens which he sold and then whistleblew. so binance is solvant(not at loss) due to FTX,

Quote from: BlackHatCoiner on November 18, 2022, 11:07:25 AM

The fact that he thought for a moment to attack to the network's principles, and published a video demonstrating this behavior should be a red flag for every Bitcoin user out there.

blackhatcoiner. your wearing the foil cap..
the video is a old video.. its also if you listen without the foil crunching sound on your head.. him saying the community(people outside of binance) asked him if he could do it. and he was saying there are serious consequences of doing it and he doubted if he could even do it if he chose to.. he does not have 51% after all
so chill out.
he couldnt and didnt, thus its a non-event.

the video is just being spammed about to create fud

take the tin foil off, take the social media apps off your device. put a black.. or preferably white hat on and think rationally using your eyes and ears, doing research and actually use common sense logic and actual data/statistics

in short he does not have 51% so its a non-story event
calm down. have a cup of coffee, breathe, relax and think about things

BlackHatCoiner

legendary

Activity: 1512

Merit: 7340

Farewell, Leo

This video precisely demonstrates why you shouldn't trust these dick heads who're chairmen of the most popular exchanges. I don't know if his money was stolen, or if their customers' coins were stolen. It's unfortunate, I know, but Bitcoin relies on the fact that transactions are irreversible at the moment they become confirmed. That's a fundamental principle; non-negotiatable.

The fact that he thought for a moment to attack to the network's principles, and published a video demonstrating this behavior should be a red flag for every Bitcoin user out there.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: PX-Z on November 18, 2022, 10:41:17 AM

How is it possible? The 51% attack.

It wasn't supposed to be an attack but an overall consensus to reorganize the blockchain and invalidate the transactions of the attackers.CZ has deleted the first tweets of the plan he had but he has left the tweets in which he admitted it's a stupid move:
https://twitter.com/cz_binance/status/1125996197343154176
Probably he wanted the whole story forgotten but he forgot about videos and interviews.

But yeah, he planned to do it! He didn't get the reactions he thought he would so he bla-bla-bla his way out if it.
https://www.coindesk.com/markets/2019/05/08/binance-considered-pushing-for-bitcoin-rollback-following-40-million-hack/

PX-Z

hero member

Activity: 1554

Merit: 880

pxzone.online

How is it possible? The 51% attack.
But for binance current pool of minings against the total number of miners/pools, it is not possible. Bringing back that idea again is no help but just to stain his reputation again.

franky1

legendary

Activity: 4410

Merit: 4766

"the idea came from the community and we did not know we could do that and there are serious consequences for doing that, so we will take that idea very cautiously"

also binance doesnt have 51% of the network

all in all.
no threat. just someone taking words out of context to scare people into thinking binance is even seriously considering doing it. . they are not. and even if they did. they could not re-org

talkoncrypto Official

member

Activity: 155

Merit: 37

How is that possible , and does it make sense to you ...

Post link for the video - https://twitter.com/BTCGandalf/status/1593396060042428416

Topic: Binance- CZ wanted to orchestrate a bitcoin re-org? - page 2. (Read 284 times)