Binance lots of FUD - page 2. | Bitcointalksearch.org

o48o

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Quote from: Wind_FURY on December 19, 2022, 12:06:17 AM

It's defintely and ABSOLUTELY going to be the best decision for plebs to withdraw ALL of their Bitcoins from exchanges because,
1. There's nothing to trade, we are in a bear market
2. Because we are in a bear market, it's risky holding anything in a centralized entity
Buy your Bitcoin, and withdraw immediately to your custody and HODL.

You have to explain nr 1, because to me, trading is the ONLY way to make money in bear market, in bull market it's easy as you only need to buy and hodl. Also shorting can be highly profitable during bear market if you have stop limits and other security measurements in place

Nr2 i agree with. But i don't think it's as much during bear market, but bear market being triggered by a big fallen exchange. But usually failed exchange just creates a dip depending how big it was..

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Quote from: _BlackStar on December 18, 2022, 08:26:54 AM

Of course Binance would be involved in the FTX case, but people's fears about a possible catastrophic crypto crash could still be expected to be something that doesn't happen. As the biggest exchange, I think Binance has a way of neutralizing things to be more conducive but, no one knows what will happen to them.

If Binance crashes, that FUD of course will cause a massive crypto market crash and there's no stopping the panic until bitcoin and all other crypto assets lose a lot of value. I didn't expect that, stay positive.

better we think about the positive things that will happen next. This kind of FUD will continue to happen if we ourselves continue to share it. Binance also seems to need to be aware of the various kinds of FUD that are spread by many people, they really have to be ready to fend off all of this FUD. CZ also said that FUD would not last long and that it was only temporary. we will see the market bullish again when the FUD has disappeared and on those occasions, we really should take the plunge to make more profit. Hopefully, this dark incident that happened to FTX will be an important lesson for all centralized exchanges.

mvdheuvel1983

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Just remember that all this FUD is a great buying opportunity.
I am a great believer in CZ and Binance, obviously, they are guided by strong principles.
In the end, I know Cz and Binance will overcome this planned attack on them. Kevin is the villain in this story and he should be blamed for the FUD.

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Quote from: Yamifoud on December 19, 2022, 07:15:36 AM

I'd see how these FUDs create panic among investors and traders but sometimes we have to ignore it. Binance has been one of the most trusted CEX in the crypto market and thousands of traders are using this (including me), and despite the negative news, I remain trusting this exchange.

Indeed, binance is still a well-reputed centralized exchange among several other exchanges. I use binance, that's fine - but certainly not as a repository for your long-term investment assets.

I use binance as an exchange, not a store of assets. I did a few trades there for bitcoin and other assets and I think it can still be expected to help. After all, FUD on binance is currently considered reasonable considering the FTX crash had something to do with it. As best advice, withdraw your funds from any exchange if it is your long term investment. While you can still keep it on the exchange within certain limits if you are a trader.

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Quote from: Davidvictorson on December 19, 2022, 02:59:43 AM

We are aware that influencers are to blame for this Binance FUD. I anticipate that the FTX probe will turn up several flaws on some of these centralized exchanges. Even if the majority of people believe that CZ is trustworthy and won't misappropriate other people's money, I nevertheless suggest that users only leave a small amount on exchanges.

And it is a MUST.
We don't care if the news is true or fake, or any news that creates FUDs, as long as we don't keep a huge amount of money from this exchange (Binance), we are still fine.

I'd see how these FUDs create panic among investors and traders but sometimes we have to ignore it. Binance has been one of the most trusted CEX in the crypto market and thousands of traders are using this (including me), and despite the negative news, I remain trusting this exchange.

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Well I think all the Binance fud is just what the name says it is FUD. Many people who do not like Bitcoin and think its scam are telling us to take our coins off of exchanges like Binance because it will be just like the next FTX.

But there is a difference that Changpeng Zhao is not Sam Bankman-Fried who is a person so many had a bad feeling for and look what happened. I do not keep my coins on the exchanges but I think Binance will be safe if you want to.

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We are aware that influencers are to blame for this Binance FUD. I anticipate that the FTX probe will turn up several flaws on some of these centralized exchanges. Even if the majority of people believe that CZ is trustworthy and won't misappropriate other people's money, I nevertheless suggest that users only leave a small amount on exchanges.

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Quote from: swogerino on December 17, 2022, 06:23:00 AM

Quote from: Wind_FURY on December 17, 2022, 06:18:08 AM

FUD or not, this is what we actually want, no? The withdrawals from Binance is nothing but another celebration of the Proof-of-Keys Day every year, during January 3, without that day being during January 3. Cool

It's probably not what everyone wants, and it's probably a cause for panic for some, but with that, it's also a test if the exchanges' "100% user deposit reserves" claims are true or not.

I agree,as long as people withdraw their majority of the coins from the exchanges is a win situation for them and leave only the amount needed for trading,you cannot use Binance no matter how trustworthy they maybe to conserve your coins,Binance still remains a third party and over a third party we have absolutely no control whatsoever.

The only people panicking are the ones who do not take the time to learn how to keep their cryptocurrencies 100% safe in wallets where they have the private keys or in hardware wallets and sooner rather than later they learn this the hard way.

It's defintely and ABSOLUTELY going to be the best decision for plebs to withdraw ALL of their Bitcoins from exchanges because,

1. There's nothing to trade, we are in a bear market
2. Because we are in a bear market, it's risky holding anything in a centralized entity

Buy your Bitcoin, and withdraw immediately to your custody and HODL.

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Quote from: Ultegra134 on December 18, 2022, 12:49:15 PM

Quote from: DanWalker on December 17, 2022, 11:24:17 PM

.

It's not the heart of the market, but it's a vital and irreplaceable part of it. While it's a relatively new exchange, just like you said, it has quickly acquired a huge customer base and holds the majority of cryptocurrencies out there. Cryptocurrencies won't disappear if it crashes, but it'll have detrimental effects on the market and destroy their reputation. Investors would shy away from cryptocurrencies, and I wouldn't blame them; such an impact would have lifelong effects.

That's what I mean, if Binance crashes it will probably send the market into the longest downtrend we've ever seen but saying crypto will die when Binance dies is not entirely true. Mt.gox used to be the biggest exchange, but then Binance became another king in the market, and in the future, there will be another king replacing Binance, that's normal. I love using Binance but it's not unique in the market.

Quote from: Ultegra134 on December 18, 2022, 12:49:15 PM

Quote from: AakZaki on December 18, 2022, 04:55:43 AM

Certainly even further below, more like $4.000–$5.000 Binance is currently in the spotlight; however, I doubt that anything similar with FTX will happen.

If Binance crashes, we'll probably see bitcoin as low as $5k or less, but I'm pretty confident what they're having isn't too big of a deal, just minor troubles for them.

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Quote from: carlfebz2 on December 18, 2022, 04:31:22 PM

^[snip]
FUDS arent that new no matter on where it is involved because it would really be basing up on whats the current news
and events which these issues would be tied upon.

If you do have the experience and awareness then it is really something that you wont really be that surprised into these kind of situations or events
but rather you would really be seeing some opportunity.

Well if you know how to verify the source of news either if it is FUD or not --then, it should be a must.
The thing that happened on Binance was clearly a FUD or false information, I saw a thread on the Bitcoin Discussion board that it was all lie that many people withdrew their funds from Binance according to their analysis.
When you are one of the leading companies and have a lot of competitors, expect there is a hater that could keep spreading FUD or is an act of revenge by the FTX since the Binance CEO was the reason why the FTX exchange was closed.
However --this is only my own theory.

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Quote from: KingsDen on December 18, 2022, 04:14:23 PM

Quote from: Bitstar_coin on December 18, 2022, 03:16:29 PM

Quote from: Jody.Drummer on December 17, 2022, 02:36:18 PM

FUD will always exist, let alone Binance, even Bitcoin is still in the environment FUD was created. What happened to Binance today is inseparable from the fall of FTX some time ago. Maybe these are different events, but if you look at what happened, there is a connection. In fact, we should have been alert even before what we heard about Binance today. Things like this don't make us panic that causes us to make the wrong steps.
The demise of FTX also has many roles played by the CEO of CZ, and that will invite many who don't like binance to come and create FUD.

Exactly, BTC is not exactly free from occasional FUD from those negative media outlets let alone binance who has risen to the top from the scratch just a few years back.
Such success will always attract haters and FUDers who are not so happy to see the business grow. In few weeks this FUD would have died down anyhow, binance is not liked by many people at the moment, i believe this will not last for so long. As long as the exchange continues to maintain its standard and improve its services.

When haters create FUD, some of the ordinary users like us will keep spreading the FUD without knowing that the FUD will benefit the haters sponsoring it and the common people in the market will suffer it.
If we will understand and stop playing into their conspiracy game, that will be unique. If we continue we will all suffer it because the market will continue to be in bear for a longer period of time.

We also know that FUDing is part of the cryptocurrency industry. Even CZ must have planned for it because it was obvious that the FUD will coke. But I know too well that it will not last for long.

Not really that something new and if you've been here on this market for some years already then you are already get used into these kind of stuffs on which you wont really be easily get freaked out on the time

that it would really be making out some movements like this.FUDS arent that new no matter on where it is involved because it would really be basing up on whats the current news
and events which these issues would be tied upon.

If you do have the experience and awareness then it is really something that you wont really be that surprised into these kind of situations or events
but rather you would really be seeing some opportunity.

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Quote from: Bitstar_coin on December 18, 2022, 03:16:29 PM

Quote from: Jody.Drummer on December 17, 2022, 02:36:18 PM

FUD will always exist, let alone Binance, even Bitcoin is still in the environment FUD was created. What happened to Binance today is inseparable from the fall of FTX some time ago. Maybe these are different events, but if you look at what happened, there is a connection. In fact, we should have been alert even before what we heard about Binance today. Things like this don't make us panic that causes us to make the wrong steps.
The demise of FTX also has many roles played by the CEO of CZ, and that will invite many who don't like binance to come and create FUD.

Exactly, BTC is not exactly free from occasional FUD from those negative media outlets let alone binance who has risen to the top from the scratch just a few years back.
Such success will always attract haters and FUDers who are not so happy to see the business grow. In few weeks this FUD would have died down anyhow, binance is not liked by many people at the moment, i believe this will not last for so long. As long as the exchange continues to maintain its standard and improve its services.

When haters create FUD, some of the ordinary users like us will keep spreading the FUD without knowing that the FUD will benefit the haters sponsoring it and the common people in the market will suffer it.
If we will understand and stop playing into their conspiracy game, that will be unique. If we continue we will all suffer it because the market will continue to be in bear for a longer period of time.

We also know that FUDing is part of the cryptocurrency industry. Even CZ must have planned for it because it was obvious that the FUD will coke. But I know too well that it will not last for long.

Bitstar_coin

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Quote from: Jody.Drummer on December 17, 2022, 02:36:18 PM

FUD will always exist, let alone Binance, even Bitcoin is still in the environment FUD was created. What happened to Binance today is inseparable from the fall of FTX some time ago. Maybe these are different events, but if you look at what happened, there is a connection. In fact, we should have been alert even before what we heard about Binance today. Things like this don't make us panic that causes us to make the wrong steps.
The demise of FTX also has many roles played by the CEO of CZ, and that will invite many who don't like binance to come and create FUD.

Exactly, BTC is not exactly free from occasional FUD from those negative media outlets let alone binance who has risen to the top from the scratch just a few years back.
Such success will always attract haters and FUDers who are not so happy to see the business grow. In few weeks this FUD would have died down anyhow, binance is not liked by many people at the moment, i believe this will not last for so long. As long as the exchange continues to maintain its standard and improve its services.

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Quote from: DanWalker on December 17, 2022, 11:24:17 PM

It's true that Binance is huge, and as I said, it's bigger than 10 other exchanges combined, but that doesn't mean it's the heart of the market. Binance has only been around since 2017, and the market has appeared before and also developed without Binance. If it falls, we will return to the beginning, we will have to start over, but not to the point of dying with it.
Binance is part of the market, not the crypto market is part of Binance. I am one of those who do not believe that Binance will collapse, but I would not believe that it is the only lifeline of the market.

It wouldn't "kill" the market but it would definitely cripple it, depending what happened and how much reserves would have been lost. AND it would most likely make this a biggest bear market yet. It would be worse then UST crash or any exchange crash before it.

There isn't even anything in crypto history that would compare to it, mtgox, cryptsy, mintpal/moolah were the ones causing panic in the past but this would be exponentially worse on whole another level. And as we don't have anything in the past to compare it to, we would be in uncharted waters that are just too hard to speculate.

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Quote from: Pandu Geddon on December 18, 2022, 01:30:26 PM

Quote from: so98nn on December 18, 2022, 01:05:31 PM

The money laundering could be prime issue here. That’s lot of money moving in and out of the binance. I just hope that our worst dreams are not coming true here after the FTX incidence. The problem will start firing up if the clues start coming out of the news and it is associated with Money laundering. We still need assurances from Binance directly and may be in the written consent that all the holdings are in their possession and there is proof of reserve. I don’t know they would do it but that is the only way to stop this FUD.

yes, we don't wish anything bad to happen again. the market just had something bad in a row. if this happened to Binance, it would be very bad for the market. with FUD currently hitting Binance, which alone has turned some investors off. lately, after TFX it's not so great for some centralized exchanges. it's the end of the year, everyone hopes that everything will get better soon and stay well.

Nobody wants bad things to happen, but there's no denying that the very passive spread of FUD lately has many people worried the same thing will happen to binance. With so many bad and unexpected events, this is an opportunity for the people who have always made FUD to do it even more. I agree that there has to be some convincing action from binance in order to be able to answer the allegations against them now. They had to act quickly to deal with this kind of thing before the situation got more out of control.

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Quote from: so98nn on December 18, 2022, 01:05:31 PM

The money laundering could be prime issue here. That’s lot of money moving in and out of the binance. I just hope that our worst dreams are not coming true here after the FTX incidence. The problem will start firing up if the clues start coming out of the news and it is associated with Money laundering. We still need assurances from Binance directly and may be in the written consent that all the holdings are in their possession and there is proof of reserve. I don’t know they would do it but that is the only way to stop this FUD.

yes, we don't wish anything bad to happen again. the market just had something bad in a row. if this happened to Binance, it would be very bad for the market. with FUD currently hitting Binance, which alone has turned some investors off. lately, after TFX it's not so great for some centralized exchanges. it's the end of the year, everyone hopes that everything will get better soon and stay well.

so98nn

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The money laundering could be prime issue here. That’s lot of money moving in and out of the binance. I just hope that our worst dreams are not coming true here after the FTX incidence. The problem will start firing up if the clues start coming out of the news and it is associated with Money laundering. We still need assurances from Binance directly and may be in the written consent that all the holdings are in their possession and there is proof of reserve. I don’t know they would do it but that is the only way to stop this FUD.

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Quote from: DanWalker on December 17, 2022, 11:24:17 PM

It's true that Binance is huge, and as I said, it's bigger than 10 other exchanges combined, but that doesn't mean it's the heart of the market. Binance has only been around since 2017, and the market has appeared before and also developed without Binance. If it falls, we will return to the beginning, we will have to start over, but not to the point of dying with it.

Binance is part of the market, not the crypto market is part of Binance. I am one of those who do not believe that Binance will collapse, but I would not believe that it is the only lifeline of the market.

It's not the heart of the market, but it's a vital and irreplaceable part of it. While it's a relatively new exchange, just like you said, it has quickly acquired a huge customer base and holds the majority of cryptocurrencies out there. Cryptocurrencies won't disappear if it crashes, but it'll have detrimental effects on the market and destroy their reputation. Investors would shy away from cryptocurrencies, and I wouldn't blame them; such an impact would have lifelong effects.

Quote from: AakZaki on December 18, 2022, 04:55:43 AM

if the FTX incident occurs on Binance, cryptocurrency will be even more destroyed and it is possible that the Bitcoin price will crash to touch the price of $ 10k or maybe below. holding up to 60% of cryptocurrency derivatives is certainly the largest centralized exchange today.
Binance seems to be the main target this time around with lots of buzz going on. this is all due to the lost trust due to the FTX incident which made investors reluctant to leave their money in centralized exchanges. But let's hope Binance doesn't suffer the same with FTX, it's just FUD made by those who want crypto to be cheaper.

Certainly even further below, more like $4.000–$5.000 Binance is currently in the spotlight; however, I doubt that anything similar with FTX will happen.

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Quote from: AakZaki on December 18, 2022, 04:55:43 AM

if the FTX incident occurs on Binance, cryptocurrency will be even more destroyed and it is possible that the Bitcoin price will crash to touch the price of $ 10k or maybe below. holding up to 60% of cryptocurrency derivatives is certainly the largest centralized exchange today.
Binance seems to be the main target this time around with lots of buzz going on. this is all due to the lost trust due to the FTX incident which made investors reluctant to leave their money in centralized exchanges. But let's hope Binance doesn't suffer the same with FTX, it's just FUD made by those who want crypto to be cheaper.

Of course Binance would be involved in the FTX case, but people's fears about a possible catastrophic crypto crash could still be expected to be something that doesn't happen. As the biggest exchange, I think Binance has a way of neutralizing things to be more conducive but, no one knows what will happen to them.

If Binance crashes, that FUD of course will cause a massive crypto market crash and there's no stopping the panic until bitcoin and all other crypto assets lose a lot of value. I didn't expect that, stay positive.

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Quote from: Ultegra134 on December 17, 2022, 04:56:31 PM

I have to disagree with you. Binance is one of the largest, if not the largest, cryptocurrency exchanges out there. The reason the market would collapse if Binance crashed is simply because it holds up to 60% of cryptocurrency derivatives and is accountable for up to $1.5 trillion in trades just in November. FTX was one of the largest exchanges as well, but it was nothing compared to Binance. FTX put a decent dent in cryptocurrencies nonetheless. If something similar happens with Binance or even Coinbase, we'll be doomed.

if the FTX incident occurs on Binance, cryptocurrency will be even more destroyed and it is possible that the Bitcoin price will crash to touch the price of $ 10k or maybe below. holding up to 60% of cryptocurrency derivatives is certainly the largest centralized exchange today.
Binance seems to be the main target this time around with lots of buzz going on. this is all due to the lost trust due to the FTX incident which made investors reluctant to leave their money in centralized exchanges. But let's hope Binance doesn't suffer the same with FTX, it's just FUD made by those who want crypto to be cheaper.

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