Topic: Binance is a threat to the crypto space - page 6. (Read 10288 times)
You might see binance as a threat in crypto space, but i see binance as a game changer. At the moment that ico was phasing out binance came with a whole new approach of IEO and many other exchange followed suit. Binance always comes with a whole new innovation at all times
Agree to disagree... whenever power is centered on one person or a group of people, there will always be dictatorships and manipulation.. I see a lot of people celebrating Cz on Twitter for delisting bsv.. but what they don't understand is Cz poses a greater threat to decentralization than faketoshi will ever be... even vitalik buterin agrees to this
https://www.google.com/amp/s/www.coinspeaker.com/vitalik-buterin-bitcoin-sv-scam-binance/amp/
https://www.google.com/amp/s/www.coinspeaker.com/vitalik-buterin-bitcoin-sv-scam-binance/amp/
really? is the situation more worse than what bitcoin is in right now? most of the hashing power is concentrated into a handful of pools. Same with eos where it is centralized in with just 21 block producers that are getting 1.88 million a year for doing absolutely nothing?
Will it be any worse when compared to the case of facebook's worldcoin or libra or whatever the crap they're calling it? licensing each node for 10 million dollars and then concnetrating that power into one space?
See, decentralyzation is great, it should happen but as infrastructure decentralyzed infrastructure is very unreliable. Just factor in a 5 - 15 ms of latency in any decentralyzed network and you will see what I mean.
decentralyzation is prone to adoption, if people don't adopt, then the network will not mature and for that maturity to happen, it needs to be centra, to an extent, at first..
keep thinking positively, if you cannot provide something good for the development of crypto space then binance is here to build crypto to be better and safer for its users.
With all the bad that Craig Wright represents in the space and all his fake claims, I still feel Binance was very wrong with that decision of delisting the coin, apart from the power CZ holds in the space, binance is becoming a centre point of failure for the space, if Binance become MGOX, can you imagine the high number of people that would lose money, we don't need monopoly market and other exchange need to wake of give Binance fight for their money.
This is just based on the perspective we are looking at it. Other exchange have been there before binance and also posses their own threat to this space.personally I believe all Exchange is a threat to this space. Not a matter of binance alone.
Agree to disagree... whenever power is centered on one person or a group of people, there will always be dictatorships and manipulation.. I see a lot of people celebrating Cz on Twitter for delisting bsv.. but what they don't understand is Cz poses a greater threat to decentralization than faketoshi will ever be... even vitalik buterin agrees to this
https://www.google.com/amp/s/www.coinspeaker.com/vitalik-buterin-bitcoin-sv-scam-binance/amp/
CZ decided that delist BSV is a perfectly right decision. because BSV is actually an unbelievable altcoin when it is operated by a whale.https://www.google.com/amp/s/www.coinspeaker.com/vitalik-buterin-bitcoin-sv-scam-binance/amp/
BSV is still a great altcoin, it has more upgrades but its purpose is still a tool for Craig to manipulate market prices. The CZ understood that and I knew why he delist it.
Agree to disagree... whenever power is centered on one person or a group of people, there will always be dictatorships and manipulation.. I see a lot of people celebrating Cz on Twitter for delisting bsv.. but what they don't understand is Cz poses a greater threat to decentralization than faketoshi will ever be... even vitalik buterin agrees to this
https://www.google.com/amp/s/www.coinspeaker.com/vitalik-buterin-bitcoin-sv-scam-binance/amp/
CZ decided that delist BSV is a perfectly right decision. because BSV is actually an unbelievable altcoin when it is operated by a whale.https://www.google.com/amp/s/www.coinspeaker.com/vitalik-buterin-bitcoin-sv-scam-binance/amp/
BSV is still a great altcoin, it has more upgrades but its purpose is still a tool for Craig to manipulate market prices. The CZ understood that and I knew why he delist it.
I think Binance and Changpeng Zhao should be cut some slacks. Although power might be a bit abused but the state of current confidence and and trust in the market today has been largely contributed his effort through IEO and positive marketing
Agree to disagree... whenever power is centered on one person or a group of people, there will always be dictatorships and manipulation.. I see a lot of people celebrating Cz on Twitter for delisting bsv.. but what they don't understand is Cz poses a greater threat to decentralization than faketoshi will ever be... even vitalik buterin agrees to this
Let us forget about the power they hold in the market, how about the security lapse they had and hackers running away with 7000BTC and CZ even considered a bitcoin rollback at that phase which is a silly thought process as he thought it would be a easy process like some shit coins did in the past when they encountered the same situation 
. And a few days back i saw a thread here reporting that the site was offline, so it is best to avoid them for the time being and they are becoming that powerful because of the user base they have and when that is gone, they are just a normal exchange.Now there is another accusation against binance and other exchanges that they shows fake volume and allow unlawful practices.
Here is the source to read more about it
Then perhaps we should be looking for another number 1 so it wont be that much greedy yet for starters..
Expect it to happen.
But he is also taking risk with his manipulation.
The price on their exchange also relies on other exchange which means theycannot be too far from the price of each or else there will be arbitrage and it will hit them hard.
That is also one thing why they cannot manipulate it just like that.
If the price of btc at binance suddenly falls and then at bitmex is pumping they will be having a lot of problems.
Expect it to happen.
But he is also taking risk with his manipulation.
The price on their exchange also relies on other exchange which means theycannot be too far from the price of each or else there will be arbitrage and it will hit them hard.
That is also one thing why they cannot manipulate it just like that.
If the price of btc at binance suddenly falls and then at bitmex is pumping they will be having a lot of problems.
Binance delisting SV has set an example of how how powerful exchanges have become. You may not agree with Bitcoin SV but it is still in the top 10 and they could make a lot of money off the trading fees. So they aren't even making the correct financial move but doing something out of spite instead.
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I don't think binance is a threat to all of us, but we don't know the truth. Maybe binance has a secret plan and they don't want to explain their strategy. We can say binance is a threat because they delist bsv or doing another thing but the truth, we still guessing for what is their reason to do that. So I think it's better to wait for a while so we can see what will binance do or we will see news from binance.
It has always been my opinion that we are hypocrites for the simple fact that we celebrate and praise Cryptocurrencies and blockchain while at the same time, we still prefer centralised exchanges over decentralised exchanges.
Binance has already a giant in crypto, but we don't need to see them become much bigger, and expand their ecosytem bigger. The bigger Binance become, the higher risks for crypto space in general and for bitcoin market in particular.
Giant that has shown us that he has not learned to keep Bitcoin in safe. I once heard opinion of an expert with market of crypto exchanges. He says if crypto market wants to have future as the stock market - is a long way but it's real. And he says: Today's crypto exchanges are simple exchangers that exchange money to cryptocurrency and they will not succeed in future unless they act transparently.
He trusts Kraken. As the exchange which develops properly. On other exchanges he does not recommend keeping money.
People feel comfortable with binance than any other exchange as it is a first exchange to introduce the trading fees commission which makes many run to the use and as of now has gain so much ground that it might take control of the market and that is not suppose to happen as we call it decentralized .
Of course people feel comfortable with Binance and they really enjoy the exchange. See that hack thing occur and it could have made Binance the worst exchange out there but it did not because Binance played wise games and covered the loss of the people who suffered in the hack. It has been providing great services and I think there is no need to call it a threat but a blessing. Binance has already a giant in crypto, but we don't need to see them become much bigger, and expand their ecosytem bigger. The bigger Binance become, the higher risks for crypto space in general and for bitcoin market in particular.
Giant that has shown us that he has not learned to keep Bitcoin in safe. I once heard opinion of an expert with market of crypto exchanges. He says if crypto market wants to have future as the stock market - is a long way but it's real. And he says: Today's crypto exchanges are simple exchangers that exchange money to cryptocurrency and they will not succeed in future unless they act transparently.
He trusts Kraken. As the exchange which develops properly. On other exchanges he does not recommend keeping money.
I have never seen anything as a threat in crypto currencies. I always take the positive side and assume that it is a challenge that we must face. Competition in crypto currencies is indeed very tight. I think binance does not threaten crypto currency space. Indeed we cannot deny that binance has a very good development so it indeed seems to be a threat in crypto currencies. I think we should always take the positive side and make it a motivation to be more advanced.
Binance and CZ have big wave to crypto world. I think he is not dictator but i just realized he have good idea to make something different. I dont know who's introduce first time about IEO but as you know because so many project success in binance launchpad so many exchange also held IEO. That fact.
Big or small all exchanges are targets it will only affect more people with the size of binance. Day traders spread your eggs and dont leave all your funds on 1 exchange. May shit break out you wont lose it all at once.
thats true, we should use Binance less, despite the exchange is really good but when everything is centralized it does not a good thing.
also, Binance already had problems and I thing in time it would have more.
also, Binance already had problems and I thing in time it would have more.
Binance have a problem but its normal because there is no perfect in this world . There is no perfect exchange that cant be hackable or dont have any issues but binance did already solve thier problem and they refund their users , isnt that great ? While i believe other exchanges cant possibly do it . Being centralized is not a problem and binance is a verry good exchange so why not limit yourself from using it ?
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