Binance Finalizing Deal to Purchase CoinMarketCap! Can CMC Stay Neutral?

SolarWindMiningCompany

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Quote from: leea-1334 on April 14, 2020, 10:28:48 AM

Quote from: jossiel on April 14, 2020, 12:05:57 AM

They won't ruin themselves, why would they? I have never came up to that point of thinking that they will do self-destruction after purchasing and investing millions of money to CMC.

Well,,, we thought the same about Justin Sun and TRON and for sure all their community users also thought he could not possibly self-destruct but then he kept on making the wrong moves from Pornhub to Steemit,,, now people are angry at him instead of cheering his expansion. People just need to be careful and to do things with the right mix of ambition and intent.

I do understand your rationale. I would also think in that direction too. But then this is business and in most cases monopolizing a sector yields the highest profit. However, I do hope that CZ will maintain all level of professionalism required to deliver excellent and unparalleled service while handling or managing CMC

wozzek23

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I have stopped using coinmarketcap some long time back itself when I came to know about their manipulations. Still, not sure why binance is trying to acquire them instead of creating their own listing/ranking services. Because, like coinmarketcap there are multiple sites with listing features hence coinmarketcap may not be a successful business model no more as many people like me had decided not to touch them anymore.

So far, binance is maintaining their reputation across internet and in crypto space which means we can expect coinmarketcap services to be neutral in coming years too.

X-ray

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Quote from: cassavachips on April 17, 2020, 11:30:16 PM

Binance has a good reputation, of course they will not do things that make them look bad. But chances are they could have done something in CMC on a project that would rival binance

It doesn't matter a lot even binance has a very good reputation among the crypto users and then nothing changed at all There was only one thing the only change that happened in CMC was on the deritative exchange site rank.
There was no change at all in term of daily trade volume and scam exchange sites are still taking the first position

rose9696

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Quote from: cassavachips on April 17, 2020, 11:30:16 PM

Binance has a good reputation, of course they will not do things that make them look bad. But chances are they could have done something in CMC on a project that would rival binance

To me, Binance needs to acquire CMC to promote their upcoming projects. Their passion is to promote and attract more major investors around the world into good projects. Binance exchange is widely known by people in the crypto market, but to promote it more broadly, CMC is required. Posting and promoting posts about Binance exchanges will be essential to boost its popularity. I appreciate this investment of CZ.

tyoA7X

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I was surprised to read this news, binance should not need to do that, binance is a big market and high demand there if binance continues to provide major updates or big news I think binance will be the number one exchanger for forever

cassavachips

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Binance has a good reputation, of course they will not do things that make them look bad. But chances are they could have done something in CMC on a project that would rival binance

jossiel

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Quote from: leea-1334 on April 14, 2020, 10:28:48 AM

Quote from: jossiel on April 14, 2020, 12:05:57 AM

They won't ruin themselves, why would they? I have never came up to that point of thinking that they will do self-destruction after purchasing and investing millions of money to CMC.

Well,,, we thought the same about Justin Sun and TRON and for sure all their community users also thought he could not possibly self-destruct but then he kept on making the wrong moves from Pornhub to Steemit,,, now people are angry at him instead of cheering his expansion. People just need to be careful and to do things with the right mix of ambition and intent.

I don't know about Justin Sun because I'm not following his projects and what's happening to his ventures.

But this time, CMC and BNB is a different thing. CZ is different businessman than Sun so there's no need to be compared for him. I understand that the same situation might happen for Binance because of that but let's see how they will keep themselves with this new venture.

milewilda

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Quote from: Botnake on April 14, 2020, 11:19:14 AM

Quote from: leea-1334 on April 14, 2020, 10:28:48 AM

Quote from: jossiel on April 14, 2020, 12:05:57 AM

They won't ruin themselves, why would they? I have never came up to that point of thinking that they will do self-destruction after purchasing and investing millions of money to CMC.

Well,,, we thought the same about Justin Sun and TRON and for sure all their community users also thought he could not possibly self-destruct but then he kept on making the wrong moves from Pornhub to Steemit,,, now people are angry at him instead of cheering his expansion. People just need to be careful and to do things with the right mix of ambition and intent.

They are a different project, Binance does not only do the hype, they also make the right direction that would please the supporters, unlike TRON that they are only good with hype but they are under performing on the competition of the top assets in the market.

TRON rose to top 10, but now it was dropped pretty hard, only rank at number 17 while Binance is very consistent.
https://coinmarketcap.com/

And this is what make them on top of the chain because Binance do know on how to extent itself into various sections which i havent even expect that they would really go this far.
I dont see the point for them to alter anything when it comes to stats, the entire community do know about that possibility so its impossible for them to take risk on making such action.
Lots of projects that we have seen which are only good on hyping but not really doing their stuff which do really lead up to total failure.

Botnake

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Quote from: leea-1334 on April 14, 2020, 10:28:48 AM

Quote from: jossiel on April 14, 2020, 12:05:57 AM

They won't ruin themselves, why would they? I have never came up to that point of thinking that they will do self-destruction after purchasing and investing millions of money to CMC.

Well,,, we thought the same about Justin Sun and TRON and for sure all their community users also thought he could not possibly self-destruct but then he kept on making the wrong moves from Pornhub to Steemit,,, now people are angry at him instead of cheering his expansion. People just need to be careful and to do things with the right mix of ambition and intent.

They are a different project, Binance does not only do the hype, they also make the right direction that would please the supporters, unlike TRON that they are only good with hype but they are under performing on the competition of the top assets in the market.

TRON rose to top 10, but now it was dropped pretty hard, only rank at number 17 while Binance is very consistent.
https://coinmarketcap.com/

leea-1334

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Quote from: jossiel on April 14, 2020, 12:05:57 AM

They won't ruin themselves, why would they? I have never came up to that point of thinking that they will do self-destruction after purchasing and investing millions of money to CMC.

Well,,, we thought the same about Justin Sun and TRON and for sure all their community users also thought he could not possibly self-destruct but then he kept on making the wrong moves from Pornhub to Steemit,,, now people are angry at him instead of cheering his expansion. People just need to be careful and to do things with the right mix of ambition and intent.

jossiel

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Quote from: ?? on ??

Quote from: jossiel on April 13, 2020, 07:05:08 AM

~snip~

Binance is still on top and I’m sure they will not ruin their reputation while owning the CMC on manipulating the numbers. I think this is already a final decision for binance to take over the CMC, they are so aggressive on improving their company and that’s why BNB is a good coin as well.

They won't ruin themselves, why would they? I have never came up to that point of thinking that they will do self-destruction after purchasing and investing millions of money to CMC.

It's probably part of their plan and there's more to go as soon as they have enough again to buy.

That's likely an expansion for them to thrive and compete more for the upcoming years.

jossiel

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Quote from: Quidat on April 11, 2020, 05:28:42 PM

Quote from: jossiel on April 11, 2020, 08:07:28 AM

Quote from: ?? on ??

I very much doubt that Coinmarketcap will remain neutral after this resource is bought by Binance. I think that there is nothing even to suggest a different scenario for the development of events on this subject, since you only need to look at certain points that speak for themselves. Binance is a cryptocurrency exchange that will always fight for its rating, in addition it is a exchange that conducts IEO of new projects that need some support. In any case, it will be a huge temptation to use CMC to your advantage.

You have a point and since it's already acquired by Binance. I've looked to the top 3 categories for exchanges ranking on CMC.

Top 100 by Adjusted Volume
https://coinmarketcap.com/rankings/exchanges/
Binance #18

Top 100 by Reported Volume
https://coinmarketcap.com/rankings/exchanges/reported/
Binance #1

Top 50 by Liquidity
https://coinmarketcap.com/rankings/exchanges/liquidity/
Binance #3

Before, I haven't seen them rank 1 even with reported volume or prolly missed that moment.

Ive seen for sometime wayback CMC hadnt purchased yet by Binance that they do actually able to get that top 1 spot but not on daily to daily basis when it comes to liquidity and reported volume
but theres no doubt that Binance is one of the top and now that it is already owned by them then it wont be surprising if they would just simply list out their names to be on the top of the pyramid.
Of course, you bought it then its a sure thing that you are aiming something when it comes to benefits knowing that CMC is been commonly used by the majority when it comes on checking the
market condition.

It's not on a daily basis because they weren't as popular as before but things might change depending how they will take advantage after owning the said website.

As I can see for the reported volume, they're still number one and it's a valid info.

Spaffin

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Today, there are many trading exchanges on the cryptocurrency market that have a very dubious reputation, and some show disrespect to their customers, delaying or canceling withdrawals. I have been using the services of Binance for quite some time and am quite pleased with this cryptocurrency exchange thanks to a clear and easy interface and good technical balance. This resource has never let me down or cheated on me, therefore, any actions of the administration to expand my business, I think, will benefit all Binance's customers only and there is no reason to doubt the objectivity of CMC.

Quidat

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Quote from: jossiel on April 11, 2020, 08:07:28 AM

Quote from: ?? on ??

I very much doubt that Coinmarketcap will remain neutral after this resource is bought by Binance. I think that there is nothing even to suggest a different scenario for the development of events on this subject, since you only need to look at certain points that speak for themselves. Binance is a cryptocurrency exchange that will always fight for its rating, in addition it is a exchange that conducts IEO of new projects that need some support. In any case, it will be a huge temptation to use CMC to your advantage.

You have a point and since it's already acquired by Binance. I've looked to the top 3 categories for exchanges ranking on CMC.

Top 100 by Adjusted Volume
https://coinmarketcap.com/rankings/exchanges/
Binance #18

Top 100 by Reported Volume
https://coinmarketcap.com/rankings/exchanges/reported/
Binance #1

Top 50 by Liquidity
https://coinmarketcap.com/rankings/exchanges/liquidity/
Binance #3

Before, I haven't seen them rank 1 even with reported volume or prolly missed that moment.

Ive seen for sometime wayback CMC hadnt purchased yet by Binance that they do actually able to get that top 1 spot but not on daily to daily basis when it comes to liquidity and reported volume
but theres no doubt that Binance is one of the top and now that it is already owned by them then it wont be surprising if they would just simply list out their names to be on the top of the pyramid.
Of course, you bought it then its a sure thing that you are aiming something when it comes to benefits knowing that CMC is been commonly used by the majority when it comes on checking the
market condition.

rose9696

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Quote from: cryptozink on March 31, 2020, 06:33:23 AM

The deal to acquire CoinMarketCap is reportedly worth $400 million. Can CMC stays neutral after it is transferred to CZ?

Breaking the news:

https://www.cryptozink.io/binance-exchange-buys-cryptocurrency-price-index-website-coinmarketcap/

I think this is a big issue that needs serious discussion. It is clear that CZ had a lot of money on the days when the volume of the exchange increased and it seemed that all manipulation was largely from the Binance exchange. To me, this is a major step forward in our plan to manipulate the crypto market in all sectors. In the near future, they will probably develop marketing to help the crypto world to have more investors and will choose Binance as the first destination. That's my thought but I still need to watch CZ's next actions, hopefully it won't be a strong manipulation in the future.

itsv

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well i think it will be hard for CoinMarketCap to stay neutral and independent, People will switch to alternative data aggregators like coingecko for a different perspective. On the positive side i think many of shady exchanges with fake volumes might perish soon.

Review Master

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It'a more likely binance trying to turn crypto into CZypto Grin

. BTW , binance is trying make the crypto ecosystem centralized system. First of all, binance ceo CZ told/requested to reverse/rollback the bitcoin blockchain after the hacking incidents and now bought CMC to take control over the market analysis. This could be a problem in future.

jossiel

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Quote from: ?? on ??

I very much doubt that Coinmarketcap will remain neutral after this resource is bought by Binance. I think that there is nothing even to suggest a different scenario for the development of events on this subject, since you only need to look at certain points that speak for themselves. Binance is a cryptocurrency exchange that will always fight for its rating, in addition it is a exchange that conducts IEO of new projects that need some support. In any case, it will be a huge temptation to use CMC to your advantage.

You have a point and since it's already acquired by Binance. I've looked to the top 3 categories for exchanges ranking on CMC.

Top 100 by Adjusted Volume
https://coinmarketcap.com/rankings/exchanges/
Binance #18

Top 100 by Reported Volume
https://coinmarketcap.com/rankings/exchanges/reported/
Binance #1

Top 50 by Liquidity
https://coinmarketcap.com/rankings/exchanges/liquidity/
Binance #3

Before, I haven't seen them rank 1 even with reported volume or prolly missed that moment.

kang_kung

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CoinMarketCap worth $400M? Wow that's really a lot of money and Binance willing to spent $400M to buy CoinMarketCap? You bet Binance will make sure that $400M well spent which leading to a not-so-neutral CoinMarketCap anymore.

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Quote from: t3m4nc0k on April 04, 2020, 11:48:15 PM

Binance is big exchange and has a very good reputation of course it will remain neutral maybe in the future there will only be a change in appearance or something and I will certainly still trust coinmarketcap

There's no need to feel doubt about that again but as far as i know if binance can do anything with it. The good news about that if that will stand alone and it will never join in the family of binance service platform.
I hope will bring a neutral position to the CMC. This can be good news for sure.

Topic: Binance Finalizing Deal to Purchase CoinMarketCap! Can CMC Stay Neutral? (Read 486 times)