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Topic: Binance issue (Read 229 times)

member
Activity: 378
Merit: 10
March 29, 2018, 07:22:32 AM
#26
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
what do you mean there is an oddity in the BINANCE exchange ?
it should be in the present time they are making decentralized market versions like other markets.

yeah i heard they are developing a decentralize exchange and that's a big news , growing of cryptocurrency depends on decentralization nevertheless governments would control it and still the same thing with fiat currency repeat again!

Exactly, they are developing their own Blockchain and they named it as Binance chain which can lead the market in the coming years. Decentralized is always good for protecting their coin with themselves and COE of Binance has taken the right decisions.
hero member
Activity: 1036
Merit: 520
March 29, 2018, 07:21:21 AM
#25
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!

I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
If you don't agree with centralized exchanges, then don't use them, it's that simple. Also, the 'decentralized' exchange Binance plans to set up isn't all that decentralized to begin with. I rather use current decentralized exchanges, or keep waiting for a better one, than making use of the BinanceChain. But who am I? People are free to use that what they like, and I'm happy for them they have the freedom to choose. At the end of the day, decentralized or centralized, everything helps increasing crypto's utility - without all these combined efforts, crypto would remain a joke for ever.

I used Binance because it has done so good so far and i don't know as good as decentralize exchange yet , I'd leave it as soon as i found one , i'd rather to keep the private key of my hand instead of giving to some exchange!
hero member
Activity: 1036
Merit: 520
March 29, 2018, 07:14:41 AM
#24
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
what do you mean there is an oddity in the BINANCE exchange ?
it should be in the present time they are making decentralized market versions like other markets.

yeah i heard they are developing a decentralize exchange and that's a big news , growing of cryptocurrency depends on decentralization nevertheless governments would control it and still the same thing with fiat currency repeat again!
member
Activity: 392
Merit: 10
March 26, 2018, 07:15:40 PM
#23
The worst plan is that Binance fails, and many exchanges can replace it!

Hong Kong is always China's territory, and China's policy is forbidden to digital cryptographic currency!

Binance is far from Asia's benefit to its development.
newbie
Activity: 184
Merit: 0
March 26, 2018, 02:54:57 PM
#22
With recent moves on the market and with binance. I suspect they try to create FUDs to fool the bitcoin shares from many people. However, I'm not sure about that. Right now, when the market is sinking. Any information is sensitive and has negative feedback.
jr. member
Activity: 90
Merit: 1
March 26, 2018, 02:42:45 PM
#21
What is interesting, there are rumours that Binance will have its banking accounts in HSBC and Barclays in Malta. If true those 2 banks will be able to directly influence Binance activity as the fiat-to-crypto exchange (several other leading exchanges such as Coinbase and Bitfinex are also under a dominance of large financial groups). Though that scenario can bring addtitional money from institutional investors it poses some considerable risks including consolidation of big business control over cryptotrading and a higher probability / intensity of cryptomarket manipulations.
hero member
Activity: 756
Merit: 504
March 26, 2018, 01:00:35 PM
#20
If this is going to happen against Binance then surely its going to hurt badly to all crypto world because we have already many problems in recent time crackdown in many countries and China factor is also consistently hurting too much but if they are going to move Malta its not bad at all as now its new country with soft policies for Crypto world and Binance can go more good and healthy with this change but we believe this could be happen without any big fud as we cannot afford another one
sr. member
Activity: 644
Merit: 262
Enterapp Pre-Sale Live
March 26, 2018, 12:28:46 PM
#19
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
what do you mean there is an oddity in the BINANCE exchange ?
it should be in the present time they are making decentralized market versions like other markets.
legendary
Activity: 1666
Merit: 1285
Flying Hellfish is a Commie
March 26, 2018, 08:17:51 AM
#18
This is a well detailed story line but is there a link to this perspective you just shared here? Although I read about the move to Malta on Bloomberg:. https://www.bloomberg.com/news/articles/2018-03-23/the-world-s-biggest-cryptocurrency-exchange-is-moving-to-malta?srnd=cryptocurriences

It would really be sad to have Binance suffer any crackdown. It's the darling exchange of many now.

That's the big reason that they are moving to Malta, or at least starting to move.Because they're moving to a place which is going to be friendly towards crypto and not just put legal sanctions on them as they're trying to do business.

Makes sense for both sides, Malta wants jobs, tax dollars, etc and Binance wants security from countries that don't support crypto.

Yeah OP, I'd just close your eyes to some of the 'news' for sometime. These news stories are made to move markets, sway opinons and so on. Not everything is true.
hero member
Activity: 2660
Merit: 651
Want top-notch marketing for your project, Hire me
March 26, 2018, 06:44:08 AM
#17
I think you shouldn't worry about the issues Binance has at the time. I'll tell you more, such issues usually are created in order to manipulate crypto-market and force people, who take all of this speculative news too seriously, panic and make mistakes.

First of all, Binance's CEO has already decided to open a new office in Malta and its Prime-Minister welcomed his decision. To change jurisdiction for a business entity nowadays is not that difficult. Especially for Binance. As we know, Malta tries to become a "trailblazer" in the regulation of blockchain-based businesses. For that reason, the local government even launched the Malta Digital Innovation Authority in order to provide legal clarity for companies developing Blockchain technologies, cryptocurrencies, and ICOs. I think this country has a very favorable environment for companies like Binance.

Secondly, Binance is a huge "whale" of crypto-world. And its reputation means for its founders more than anything. That is why they won't allow Binance's clients to suffer from their temporary issues. Even if the authorities of their current residence will impose a fine on them, they will pay it, and just change their residence.

So, stay calm and don't worry about these political and business "games". It is nothing but just that. Everybody knew about Binance's business activities before and about its success but nobody told nothing until now. It means that Binance's activity didn't contradict the local legislation. And now the local authorities found something...accidentally...out of nowhere... It looks suspicious, doesn't it? And guess what do they do? They just send a warning. As a lawyer must tell you that all of this means nothing. They don't file a lawsuit in court or just shut down Binance's offices confiscating its software and servers. Warnings are sent in cases when the legislation enacted some new provisions and while not every business entity is still complying with the new regulations, authorities send these warnings to force them to align with these regulations. And it's just the ground for these two parties to start the dialogue. Only if Binance's leaders refuse to comply with the new requirements, they can become a subject to punishment and responsibility. But as we know, Binance is not refusing to do this and is currently holding negotiations with local regulative bodies.

So, stop worrying and start thinking on how to earn some profit from this situation. For example, you could buy some BNB yesterday and make a nice profit today.  Grin Wink

Ooohh. Someone answered back with full details. That hurts.
I guess this is just FUD created by the government so they can have a part of what Binance is getting now.
Cmon, this is not new when money is related. Of course the government will be in your tail as much as possible.  Grin
This wont work. That exchange have too much popularity and support now.
I guess you can trash everything and just move on. At least give thanks to those who paid you. If there is one. Or this should be a success before they will pay?
Yes, the FUD are used manipulate the crypto market in other for the big fish to buy in dip but Japan is crypto friendly country and statement made by the Japan’s Financial Services Agency was that Binance will face criminal charges if it continues its Japanese operations without a license and I don't see anything wrong in that.

sr. member
Activity: 1400
Merit: 259
March 25, 2018, 02:51:55 PM
#16
I think you shouldn't worry about the issues Binance has at the time. I'll tell you more, such issues usually are created in order to manipulate crypto-market and force people, who take all of this speculative news too seriously, panic and make mistakes.

First of all, Binance's CEO has already decided to open a new office in Malta and its Prime-Minister welcomed his decision. To change jurisdiction for a business entity nowadays is not that difficult. Especially for Binance. As we know, Malta tries to become a "trailblazer" in the regulation of blockchain-based businesses. For that reason, the local government even launched the Malta Digital Innovation Authority in order to provide legal clarity for companies developing Blockchain technologies, cryptocurrencies, and ICOs. I think this country has a very favorable environment for companies like Binance.

Secondly, Binance is a huge "whale" of crypto-world. And its reputation means for its founders more than anything. That is why they won't allow Binance's clients to suffer from their temporary issues. Even if the authorities of their current residence will impose a fine on them, they will pay it, and just change their residence.

So, stay calm and don't worry about these political and business "games". It is nothing but just that. Everybody knew about Binance's business activities before and about its success but nobody told nothing until now. It means that Binance's activity didn't contradict the local legislation. And now the local authorities found something...accidentally...out of nowhere... It looks suspicious, doesn't it? And guess what do they do? They just send a warning. As a lawyer must tell you that all of this means nothing. They don't file a lawsuit in court or just shut down Binance's offices confiscating its software and servers. Warnings are sent in cases when the legislation enacted some new provisions and while not every business entity is still complying with the new regulations, authorities send these warnings to force them to align with these regulations. And it's just the ground for these two parties to start the dialogue. Only if Binance's leaders refuse to comply with the new requirements, they can become a subject to punishment and responsibility. But as we know, Binance is not refusing to do this and is currently holding negotiations with local regulative bodies.

So, stop worrying and start thinking on how to earn some profit from this situation. For example, you could buy some BNB yesterday and make a nice profit today.  Grin Wink

Ooohh. Someone answered back with full details. That hurts.
I guess this is just FUD created by the government so they can have a part of what Binance is getting now.
Cmon, this is not new when money is related. Of course the government will be in your tail as much as possible.  Grin
This wont work. That exchange have too much popularity and support now.
I guess you can trash everything and just move on. At least give thanks to those who paid you. If there is one. Or this should be a success before they will pay?
legendary
Activity: 2170
Merit: 1427
March 25, 2018, 02:29:32 PM
#15
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
It didn't really affect the price. The relatively smaller dump that happened somewhere around the time this news came out was either just an impulsive dump, or a dump meant to trigger a chain of panic sellers, which didn't happen. It's just impossible to link one event with a certain dump, because everything that happens can be used by market movers to exploit the situation.

I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
If you don't agree with centralized exchanges, then don't use them, it's that simple. Also, the 'decentralized' exchange Binance plans to set up isn't all that decentralized to begin with. I rather use current decentralized exchanges, or keep waiting for a better one, than making use of the BinanceChain. But who am I? People are free to use that what they like, and I'm happy for them they have the freedom to choose. At the end of the day, decentralized or centralized, everything helps increasing crypto's utility - without all these combined efforts, crypto would remain a joke for ever.
full member
Activity: 336
Merit: 106
March 25, 2018, 01:35:01 PM
#14
I think you shouldn't worry about the issues Binance has at the time. I'll tell you more, such issues usually are created in order to manipulate crypto-market and force people, who take all of this speculative news too seriously, panic and make mistakes.
...
So, stop worrying and start thinking on how to earn some profit from this situation. For example, you could buy some BNB yesterday and make a nice profit today.  Grin Wink
I agree with you on many points. I think that Hong Kong is under strong pressure of central Chinese authorities that want to crack down all crypto trade both in China and Hong Kong (as the Special administrative region). Good sign is that Binance and Malta authorities have already hinted that the deal is almost complete. It is a good development of situation. I'm glad that Binance does active preventive steps to mitigate exisitng risks. Also I hope that EU and Eurozone will not pressure cryto trading in future that can hinder Malta activities in that sphere.
BNB is on my radar for a long time already Smiley
More and more countries have more liberal policies with cryptocurrency so I think that in the future it will be easier for the market. Binance is a very big exchange and is receiving support from the community so I believe that Binance's management will have a plan to overcome this difficult time. Currently most of my trade is traded on Binance.

It's good that Binance was able to make a deal with Malta immediately and despite the regulation made, it may not affect them so much. Since there are plenty more countries that are more open to cryptocurrency, it shouldn't be a problem even with regulations being made. It's going to be a problem for the japanese investors but Binance will survive and continue to profit. There are those who thought that this would be the end for Binance but it will clearly pull through.
member
Activity: 85
Merit: 10
March 25, 2018, 12:41:50 PM
#13
If Binance goes down, crypto will go into chaos for a long time before it can get back up. I trust its CEO - Changpeng Zhao - won't let that happen.

i hope so !
full member
Activity: 322
Merit: 111
Revolutionized Rotating Savings & Borrowings
March 25, 2018, 12:21:16 PM
#12
the movement from hongkong to malta was a  good decision of the CEO. working in country under pressure by the goverment authority is a dangerous to pursue.

malta prime minister already announce with open arms the operation of binance in their country. it connotes great improvements on crypto traders.
I just found this out and first was kind of scared and shocked. However seeing the PM welcome with open arms is very heart warming to say the least. I remember when poker had a big issue in 2011, Malta was a good safe haven for a lot of players. Good to see they are still being progressive in their laws Smiley.
newbie
Activity: 168
Merit: 0
March 25, 2018, 11:35:06 AM
#11
the movement from hongkong to malta was a  good decision of the CEO. working in country under pressure by the goverment authority is a dangerous to pursue.

malta prime minister already announce with open arms the operation of binance in their country. it connotes great improvements on crypto traders.
jr. member
Activity: 196
Merit: 1
Express Gratitude With Merit
March 25, 2018, 11:34:38 AM
#10
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.

The good news is that Binance is currently developing a decentralized exchange, which was announced by its CEO. So, I think everything is going to be just fine with its future.
newbie
Activity: 13
Merit: 0
March 25, 2018, 11:03:36 AM
#9
If Binance goes down, crypto will go into chaos for a long time before it can get back up. I trust its CEO - Changpeng Zhao - won't let that happen.
member
Activity: 350
Merit: 10
March 25, 2018, 10:00:46 AM
#8
I think you shouldn't worry about the issues Binance has at the time. I'll tell you more, such issues usually are created in order to manipulate crypto-market and force people, who take all of this speculative news too seriously, panic and make mistakes.
...
So, stop worrying and start thinking on how to earn some profit from this situation. For example, you could buy some BNB yesterday and make a nice profit today.  Grin Wink
I agree with you on many points. I think that Hong Kong is under strong pressure of central Chinese authorities that want to crack down all crypto trade both in China and Hong Kong (as the Special administrative region). Good sign is that Binance and Malta authorities have already hinted that the deal is almost complete. It is a good development of situation. I'm glad that Binance does active preventive steps to mitigate exisitng risks. Also I hope that EU and Eurozone will not pressure cryto trading in future that can hinder Malta activities in that sphere.
BNB is on my radar for a long time already Smiley
More and more countries have more liberal policies with cryptocurrency so I think that in the future it will be easier for the market. Binance is a very big exchange and is receiving support from the community so I believe that Binance's management will have a plan to overcome this difficult time. Currently most of my trade is traded on Binance.
hero member
Activity: 1036
Merit: 520
March 25, 2018, 05:23:44 AM
#7
Binance has been so big and popular that a simple FUD about it could change the bitcoin price!
I'm not agree with centralize exchanges and if Binance doesn't create a decentralize exchange wouldn't last for a long time.
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