Topic: Binance is Becoming a Crypto Monopoly - page 12. (Read 2098 times)
It is true we are fighting for decentralized world and now we see the power of one man - CEO of Binance - CZ. Look what happened to Bitcoin Satoshi Vision after delisting from Binance.
You're completely right, I agree with you. Binance is a good exchange and it has good prospects. However, so much hype around Binance can turn it into a crypto monopoly.
realized or not, the coin that goes to binance suddenly the price goes up, and can this be called monopoly? it could be, because an exchange that is able to lift asset prices suddenly, usually in the end there will be a dump, but that also cannot be ascertained.
Binance is a very good exchange place in my opinion and if there is a new Altcoin registered at Binance, It will experience a very clear goodness.
Oh well, they will be a big company. But let's admit. If there is a top stock exchange with by-products that is useful to everyone. Can he hold the lead. Of course there is no doubt this is a cool organization.
realized or not, the coin that goes to binance suddenly the price goes up, and can this be called monopoly? it could be, because an exchange that is able to lift asset prices suddenly, usually in the end there will be a dump, but that also cannot be ascertained.
Lol it looks like you don't know about how it works. Binance has a lot of money and they can monopoly the market easily. that's about to get or grab whole of demands from the crypto market and that's the main point. as the biggest exchange site and that will be so easy for them to monopoly any business in the crypto.
I think the trading platform has been through a lot of experience and there are ways to solve many problems to be able to make a big impact on such communities. So, but what you mention sometimes is a compliment about his success. However, after that, the crypto community is not foolish enough for him to have a big impact on investors' decisions. I think people need their own views and skills to be able to participate in this community,
realized or not, the coin that goes to binance suddenly the price goes up, and can this be called monopoly? it could be, because an exchange that is able to lift asset prices suddenly, usually in the end there will be a dump, but that also cannot be ascertained.
It's not Binance fault, we are the reason why Binance is currently standing at the top, and only us can take them down.
Remember the popular exchanges in the past like Poloniex, it's not having a trading volume as usual, they have the power to do what they want
and of course they influence the decision making of some investors due to their popularity and reputation but the final say is coming from us.
Remember the popular exchanges in the past like Poloniex, it's not having a trading volume as usual, they have the power to do what they want
and of course they influence the decision making of some investors due to their popularity and reputation but the final say is coming from us.
In as much as I agree with your submission , I also think that it's other Cryptocurrency exchanges that are giving binance the stage to be acting out it's monopolistic tendencies.
To break the hold of binance on the cryptosphere, the other exchanges should be up and doing.
Binance is a cool exchange, better than most exchanges, the support staff are very proactive in handling users issues.
CZ is a smart ass fellow whose Innovative ideas is beginning to shape the world of Cryptocurrency.
To break the hold of binance on the cryptosphere, the other exchanges should be up and doing.
Binance is a cool exchange, better than most exchanges, the support staff are very proactive in handling users issues.
CZ is a smart ass fellow whose Innovative ideas is beginning to shape the world of Cryptocurrency.
Binance have done great work in the entire cryptocurrency ecosystem by taking the bull by the horn when they issue a warning before going ahead to delist bitcoin SV, but as you have said absolute power corrupts so giving them the monopoly to dictate what goes in and out in the cryptocurrency industry will lead to kiosk in the future.
It's quite dangerous for a centralized exchange to monopolize crypto, from owning bandges to bullets; they want everything to come in contact with their ecosystem before crypto's actually see true success. But, Binance's recent movements is having the inverse effect, they are becoming a truly a dangerous threat to crypto entirely, this is in my opinion and sentiments.
Imagine Binance dictating which cryptos see success and which others fail, that's the direction we're headed in, or how they want us to perceive what Binance actually means. They've done a lot of good for crypto as a whole since they were founded, but CZ is trying to expand and monopolize everything, for: power, money and what's probably most important to him, his fame.
I suggest the community start being critical about these power-house exchanges, especially Bianance since they are the largest by a mile (discounting all fake-exchanges). IEOs are a small indicator towards the centralization of power, giving the big guys the authority to dictate which coins you should be investing in. Crypto was not founded by someone telling you which coins you should invest or not invest in, it's always been a cycle of growth and maturing.
There are ultimately many repercussions that will be seen, for what's occurring right now. They will not been seen in the short-term, but will have lasting implications for crypto as a whole.
Binance is beginning to look a lot like MT. Gox, but for a whole new era.
Imagine Binance dictating which cryptos see success and which others fail, that's the direction we're headed in, or how they want us to perceive what Binance actually means. They've done a lot of good for crypto as a whole since they were founded, but CZ is trying to expand and monopolize everything, for: power, money and what's probably most important to him, his fame.
I suggest the community start being critical about these power-house exchanges, especially Bianance since they are the largest by a mile (discounting all fake-exchanges). IEOs are a small indicator towards the centralization of power, giving the big guys the authority to dictate which coins you should be investing in. Crypto was not founded by someone telling you which coins you should invest or not invest in, it's always been a cycle of growth and maturing.
There are ultimately many repercussions that will be seen, for what's occurring right now. They will not been seen in the short-term, but will have lasting implications for crypto as a whole.
Binance is beginning to look a lot like MT. Gox, but for a whole new era.
They are going down, quote this in 6 months from now.
it is best that we also discuss the solutions to the problems at hand. the problem is not just with the monopoly, that is not a serious thing in my opinion as it is a passing fancy. throughout the past couple of years this position of power has changed hand at least 4 times! and it will change hand soon again.
the bigger problem is all the shadiness and the huge risk that all the traders take by using these platforms. the solution to all this is not that simple either, although it exists. the solution is distancing ourselves with anything centralized and moving towards true decentralization (again not centralized exchanges disguising as decentralized like Binance DEX!!!)
the bigger problem is all the shadiness and the huge risk that all the traders take by using these platforms. the solution to all this is not that simple either, although it exists. the solution is distancing ourselves with anything centralized and moving towards true decentralization (again not centralized exchanges disguising as decentralized like Binance DEX!!!)
Binance exchange gained momentum over a short time and with the introduction of their exchange coin made it more attractive and gave birth to what other exchanges have copied. One should give it to them for bringing the idea that made it grow so fast and topping in the exchange charts. Currently bnb goes a long way to determine what happens in the crypto space and I could recall how price fell when it was rumored that Binance was hacked.
The main thing is not to repeat the situation with MT.GOX - that been one time biggest trading center on cryptocurrency
Any centralization in a less decentralized network is not good.
I understand that the market dictates its own and Binance product itself is usefull...
Any centralization in a less decentralized network is not good.
I understand that the market dictates its own and Binance product itself is usefull...
Yes it's true. Binance in a very short time has become the number one exchange and is now expanding its influence, becoming a monopolist. This is both good and bad. Monopoly is bad. Trusted service is good.
Just with the trusted service it has been standing high in the market. This at times give a outlook of a monopoly which to my view is not real, because every exchange seems to function in the same way while it is the one that clearly identifies the need of the investors, traders, developers and making updates accordingly. 
The main issue with Binance is that they have a coin BNB. There is an obvious conflict of interest here. Everyone knows that most volume is faked, so that they can push their own coin and manipulate it.
It is just a matter of time until Binance goes under the radar of some government and its CEO end up in jail.
They are making too much money, they are shady, sure they will get in trouble.
It is just a matter of time until Binance goes under the radar of some government and its CEO end up in jail.
They are making too much money, they are shady, sure they will get in trouble.
Yes it's true. Binance in a very short time has become the number one exchange and is now expanding its influence, becoming a monopolist. This is both good and bad. Monopoly is bad. Trusted service is good.
The most important thing for Binance is being able to maintain its integrity and also the trust of every investor who has made a trade or investment in the exchange because we know that binance has a considerable appeal. if indeed it is a problem, it will be a big problem for binance. a big challenge
I think Binance sees that only exchange is not enough, with its finance and popularity in this market. They can do anything from the best chain development to exchange DEX best. All of this will help Binance maintain its unique position in the crypto market
What exactly is the issue here, do you know how many exchanges we have out there for you to pick from, you do not have to belong to Binance community, you can just look for one that is perfect and would not have the lapses of this company.
Jump to: