Binance lots of FUD - page 3. | Bitcointalksearch.org

DanWalker

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Quote from: Ultegra134 on December 17, 2022, 05:56:31 PM

Quote from: DanWalker on December 17, 2022, 05:46:12 AM

The collapse of an exchange is like the bankruptcy of a business, it will affect some people but not kill the market. I believe there may still be other crashes in the future, but everything will be fixed, and the market will still grow.
Many people compare FXT with binance, but personally, I find the difference quite large, FTX is too small compared to Binance.
If you look at the rankings of exchanges, you can see that Binance's trading volume is the largest, and Binance's volume is equal to 10 other exchanges combined. Shows how reputable they are in the market.

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.

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.

Ultegra134

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Quote from: DanWalker on December 17, 2022, 05:46:12 AM

The collapse of an exchange is like the bankruptcy of a business, it will affect some people but not kill the market. I believe there may still be other crashes in the future, but everything will be fixed, and the market will still grow.
Many people compare FXT with binance, but personally, I find the difference quite large, FTX is too small compared to Binance.
If you look at the rankings of exchanges, you can see that Binance's trading volume is the largest, and Binance's volume is equal to 10 other exchanges combined. Shows how reputable they are in the market.

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.

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Quote from: molsewid on December 17, 2022, 04:34:42 PM

Quote from: Johnyz on December 13, 2022, 05:59:29 PM

Just try to analyze if its a FUD or the real scenario now, Binance is also exposed to FTX as far as I know but since they have a better financial planning, they managed to stay on a good position. If this is another attack from whales trying to destabilize a good exchange then we should be more careful now, and Binance will face a big challenge here. Again, we should not hold huge amount of money on any exchanges, the bear market right now is still powerful and if this news becomes worst, we should expect the worst as well.

I agree, that's why I am seeing different ads of binance across the internet, maybe they are trying to make binance more powerful exchange among all other exchange and might be those people who lost their trust since FTX could be the new traders of their exchange. Since I remember what happen to FTX I keep in mind that we should not store high amount of money in digital exchanges and wallets.

Binance is already the most powerful exchanger or trading platform in Cryptocurrencies world. And they are trying proof themselves to people that they will not effected like others exchanger incident. I think it's good strategy to make more powerful them . But at the end I will say risk is every where in crypto industry so investment there as you can afford to lose . And for storing or holding crypto it will be best to use cold wallets.

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Quote from: Johnyz on December 13, 2022, 05:59:29 PM

Just try to analyze if its a FUD or the real scenario now, Binance is also exposed to FTX as far as I know but since they have a better financial planning, they managed to stay on a good position. If this is another attack from whales trying to destabilize a good exchange then we should be more careful now, and Binance will face a big challenge here. Again, we should not hold huge amount of money on any exchanges, the bear market right now is still powerful and if this news becomes worst, we should expect the worst as well.

I agree, that's why I am seeing different ads of binance across the internet, maybe they are trying to make binance more powerful exchange among all other exchange and might be those people who lost their trust since FTX could be the new traders of their exchange. Since I remember what happen to FTX I keep in mind that we should not store high amount of money in digital exchanges and wallets.

Captain Corporate

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I am quite happy to be buying up bunch of BNB with my bitcoin these days, its been great and I feel like as long as this keeps up, I will keep doing more. What people do not understand is that as long as Binance provides proof that they are doing fine, nothing should be a trouble for them, sure you could have FUD and you could have people withdrawing and all that, but if in the long term they do not have any problems, then its going to be fine and it will go back up. Right now there is a doubt, and that doubt is the reason why its like this, but when doubt is gone, we will do a lot better for sure.

Jody.Drummer

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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.

$crypto$

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Quote from: Altryist on December 17, 2022, 02:19:51 PM

What exactly is the security of binance, why do you say that it is safe? Any centralized exchange carries certain risks, and the main ones are inherent in absolutely all exchanges. The FUD does not deprive traders of profits, it is just a manipulation that the exchange faced, we will see whether it copes with it or not. This is the world of big finance, where business sharks eat each other, the strong will survive, the weak will go to the bottom.

Binance has their version of security whereas for us there is always a certain risk even though they already have strong security, an example is FTX which crashed overnight because it is not guaranteed even though they say the centralized exchange is safe it will have repercussions later if we are not careful with any exchange.
FUD only brings bad news to crypto and this will attack those who are not mentally strong and don't believe in manipulation, so this is not depriving them of profits but they panic and change their own minds.

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Quote from: borovichok on December 17, 2022, 07:33:02 AM

Binance is one of the safest exchange in the world and it's very compulsory one should learn the steps involved practicing the exchange before using it for safety purposes, skipping these criteria and just hopping into trades will brings definite gurantee losses. FUD is one of the qualities that have deprived traders off their profits and have also made some shocking negative changes on traders and investors. Fear bump around traders who their trade is close to their SL, and so many things goes around their brain, while Uncertainty also proof ones is not confident of himself, losing confidence in trades and projects also leads to loss of profits. Doubts, tends to bring in confusion and negative feelings about a project in the space.

What exactly is the security of binance, why do you say that it is safe? Any centralized exchange carries certain risks, and the main ones are inherent in absolutely all exchanges. The FUD does not deprive traders of profits, it is just a manipulation that the exchange faced, we will see whether it copes with it or not. This is the world of big finance, where business sharks eat each other, the strong will survive, the weak will go to the bottom.

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Quote from: Peanutswar on December 17, 2022, 11:48:10 AM

There's an interview happen with the CEO of the Binance and because of this the price of the BNB immediately dropdown with the market price and of course it has a really big impact with this kind of scenario this is the time we must need to keep aware about the possible happenings and possible outcome we know that the binance is one of the largest exchange so make sure that you are updated for your safety at the same time.

The risk will decrease when you have transferred all assets to your personal wallet. The FUD that binance is experiencing is actually something to be expected since FTX collapsed, binance is sure to have an impact where the critics will clearly be against it.

We don't know who will be the mastermind, but perhaps some of the people behind FTX can counter-attack binance regardless of whether they are paid or should be. As a result, the market is getting weaker where red candle was seen in the last day. The impact also occurred on bitcoin, after touching $ 18K+ now bitcoin is trying to test how strong the $ 16K support is. Hoping for the best for the rest of the year, I will be ignoring binance FUD and still trying to focus on investing.

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Quote from: HmmMAA on December 16, 2022, 08:01:18 AM

I don't know if it is FUD or reality . Certainly , in a far west space like crypto , where nothing is regulated it's the perfect place for scammers to do whatever they want . We have seen so many scammers all these years acheving their goals . Maybe CZ is one more of them , time will tell . I hope he won't be one , otherwise people will suffer tremendous losses and it might even destabilize the whole economy . An interesting account to watch on twitter these days is https://twitter.com/DesoGames , i've never heard of this guy so far , but he seems to know what he's talking about .

I think it is mostly a fud and an effort to birng down the world biggest exchange binance down. Remember it is believed that it was CZ who is responsible to tweet about FTX and which caused the collapse of FTX. It is also thought that binance wanted to rule out the competitor and he did it in a most efficient way.

Now the American exchanges want to take revenge from binance and they want to take binance down. Due to this fud, people are withdrawing funds but binance is able to process the funds and till date there is no panic situation.

I dont know if its between "FTX or Binance" or it is between the "American Exchanges Vs the Asian exchanges", but in the end it is good for the crypto investors and they realized that these central platforms are not safe and we will never trust CEX. Hopefully it will increase more demand for decentralized exchanges.

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Quote from: Peanutswar on December 17, 2022, 11:48:10 AM

There's an interview happen with the CEO of the Binance and because of this the price of the BNB immediately dropdown with the market price and of course it has a really big impact with this kind of scenario this is the time we must need to keep aware about the possible happenings and possible outcome we know that the binance is one of the largest exchange so make sure that you are updated for your safety at the same time.

Looking at the BNB chart, you can see that the price is still in a bullish trend, despite the fact that almost the entire market is in a bearish one. This correction should have been there anyway, and all the negativity around the Binance just serves as an excuse for this correction.

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Quote from: arwin100 on December 16, 2022, 07:45:58 AM

Quote from: len01 on December 16, 2022, 06:01:18 AM

after FTX collapsed, FUD news for certain markets (including binance) seems to be trending right now.
because after FTX bankruptcy some people no longer trust centralized exchanges and those who are skeptical will always spread bad news about some big market.
for me this is something natural. because the loss of faith in a centralized exchange will remain in memory for a long time and those who suffer heavy losses will go crazy and can become a factor in the spread of FUD for binance.

Binance was been target with fuds over the years and not surprising to see another one like this because maybe some organization just got worried about if it will go the same with FTX which stole a lot of money from its user. Also normal to get more fuds as this exchange is so successful so I guess there are just people want to destroy or just trying to see if what they do can affect peoples decision towards their trades.

I think this is just a strategy and spread FUDs for people to go panic, this kind of news really affects the cryptocurrency value even though it is just an exchange but still has a huge impact. People nowadays are depending on the news even though it's just a rumor or fake article and just go with the flow if it will go up or down.

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Quote from: borovichok on December 17, 2022, 07:33:02 AM

Binance is one of the safest exchange in the world and it's very compulsory one should learn the steps involved practicing the exchange before using it for safety purposes, skipping these criteria and just hopping into trades will brings definite gurantee losses. FUD is one of the qualities that have deprived traders off their profits and have also made some shocking negative changes on traders and investors. Fear bump around traders who their trade is close to their SL, and so many things goes around their brain, while Uncertainty also proof ones is not confident of himself, losing confidence in trades and projects also leads to loss of profits. Doubts, tends to bring in confusion and negative feelings about a project in the space.

Safest word is ironic to attached on CEX even with Binance since you didn’t have your keys to your coins once you deposit in there. You risking your money once you deposit it on exchange wallet so I don’t find using the word safest relevant for an exchange that doesn’t give you the full control of your assets.

The whole discussion here is about the FUD on Binance itself and not on the effect of FUD on traders inside the Binance. The trading feature is really risky if you didn’t knew how it works but what more risky is when you store your coins inside Binance.

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There's an interview happen with the CEO of the Binance and because of this the price of the BNB immediately dropdown with the market price and of course it has a really big impact with this kind of scenario this is the time we must need to keep aware about the possible happenings and possible outcome we know that the binance is one of the largest exchange so make sure that you are updated for your safety at the same time.

rhomelmabini

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Quote from: borovichok on December 17, 2022, 07:33:02 AM

Binance is one of the safest exchange in the world

That's what we know and what we've been told but I think Binance can really put up a good fight here from critics. I still believe they really are a trusted exchange and this is not the first time Binance received such recognitions of FUDs.

Quote from: bittraffic on December 17, 2022, 07:42:29 AM

The people who withdraw though are going to lose the chance to invest in coins that are bottoming.

You're wrong on that notion, remember there are still liquid decentralized exchanges out there that list these tokens you're saying is bottoming out. Fees these days aren't that high anymore unless we see a surge of demand for acquiring these tokens at the same time, it could have gas wars.

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Quote from: swogerino on December 17, 2022, 07:23:00 AM

Quote from: Wind_FURY on December 17, 2022, 07:18:08 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.

The people who withdraw though are going to lose the chance to invest in coins that are bottoming. When Binance proves they are solvent and not doing something just like FTX, Binance will arise victoriously. It seems like they are pressing CZ way beyond what they ask of SBF and making it look like it's CZ's fault for FTX bankrupt.

SBF said to Oleary that he paid about 3B to CZ two years ago which is the reason for their insolvency. Saying this means FTX was already insolvent for 2 years. Clearly, they have the intention to scam investors. But Oleary instead uses this to pin Binance.

borovichok

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Binance is one of the safest exchange in the world and it's very compulsory one should learn the steps involved practicing the exchange before using it for safety purposes, skipping these criteria and just hopping into trades will brings definite gurantee losses. FUD is one of the qualities that have deprived traders off their profits and have also made some shocking negative changes on traders and investors. Fear bump around traders who their trade is close to their SL, and so many things goes around their brain, while Uncertainty also proof ones is not confident of himself, losing confidence in trades and projects also leads to loss of profits. Doubts, tends to bring in confusion and negative feelings about a project in the space.

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Quote from: Wind_FURY on December 17, 2022, 07:18:08 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.

Wind_FURY

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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.

DanWalker

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Quote from: Ultegra134 on December 16, 2022, 04:34:31 PM

Quote from: DanWalker on December 16, 2022, 05:41:16 AM

Quote from: Ultegra134 on December 15, 2022, 07:42:31 PM

Quote from: stompix on December 14, 2022, 04:17:43 PM

snip

As much as I'd like to disagree, you're right. FUD or not, it practically costs nothing to withdraw money to a non-custodial wallet. The risk of anything happening is far greater than the cost of the transaction. I honestly don't understand where all this FUD regarding Binance is coming from; I also read FUD regarding a Tether crash, but nothing has happened. I understand that people are a lot more frustrated and worried after the FTX bankruptcy, but I honestly believe that Binance is unlikely to have the same fate. Cryptocurrencies will take a massive hit if Binance crashes, and nothing will ever be the same again.

I am not claiming that Binance will never crash, but I also want to say that FTX crashing doesn't mean binance will crash too. The collapse of Mt.gox does not mean that coinbase or bitfinex, the exchanges that were born at the same time as Mt.gox, will also collapse.

Recently, withdrawals on Binance were at a record high, but everything went very smoothly and no investors had problems, so it can be said that this is a pretty dirty FUD from Binance's competitors.

I don't leave money on Binance, but I don't believe that Binance will be in trouble at this point, they are doing a great job as the top exchange in the market. Many people say FTX is the 2nd largest exchange, but I never used it until it died.

Binance may never crash, but it may fall victim to an exploit or a hack. In this case, I'd want to believe that they would compensate their users, otherwise, their reputation would soon shut them down. In my opinion, exchanges are generally safe, but they're not meant to be cryptocurrency storage. What happened with FTX is saddening, but I highly doubt that we're going to have another exchange crash. Supposing it happens, it would cause massive market issues, and cryptocurrencies would no longer be the same. Whether we like it or not, centralized exchanges are an irreplaceable part of the market.

The collapse of an exchange is like the bankruptcy of a business, it will affect some people but not kill the market. I believe there may still be other crashes in the future, but everything will be fixed, and the market will still grow.
Many people compare FXT with binance, but personally, I find the difference quite large, FTX is too small compared to Binance.
If you look at the rankings of exchanges, you can see that Binance's trading volume is the largest, and Binance's volume is equal to 10 other exchanges combined. Shows how reputable they are in the market.

Topic: Binance lots of FUD - page 3. (Read 869 times)