Everyone knows that BNB is centralised as well as Binance Smart Chain. But people put up with that as if we look at the average crypto participant, we will see that he doesn't care a lot about centralisation and privacy, he just wants to make money on crypto.
Some crypto enthusiasts really worry about decentralisation, so they don't use BNB or Tether but the majority choose something that is more convenient.
Topic: Binance owns 82.69% of BNB (Read 214 times)
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Hello,
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think
BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think
BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
Is this sarcasm or are you serious? If you read bunch of replies above your post, You will find out that the listed address are hot wallet for the exchange. Binance is a centralized coin so usually they have fully control on all tokens that running on there Blockchain. So it's not an issue for them if they hold all the Binance user funds on a single wallet since they are using centralized exchange for the records.
.... i would like to hear what you guys think...
I can assume that these wallets that the OP indicated belong to the Binsnce exchange and, accordingly, they contain BNB coins of exchange users. But in any case, a lot of coins are in the possession of the exchange team, which were released in 2017 and partially unblocked this summer.
It's really obvious that the exchange will have the highest amount of their coins since they haven't released some of it yet. Especially those coins that will gonna be sent to the burning address. I don't think to have any doubt about BNB and the Binance company right now, they are already in their long run.
They won't gonna turn the table just for their benefits except they will update their platform in the future to give their users fully convenient and user-friendly services.
If I'm not wrong, they've just burned some tokens just a few weeks ago.
Binance undoubtedly holds more bnb than any holder, but binance holding 82% might not be correct. The wallet you posted is hot wallet with, bnb is moving in and out of it. These wallet could be exchange wallet. Another thing here is that, binance is not as decentralized as other altcoin like ethereum. Binance is more business oriented than supporting the ideology of bitcoin!
that suggests to me that the success of BNB is directly linked to how successful Binance is and will be in the future and that goes against everything that crypto stands for.
Ask 100 people and you will get 100 different answers of what they think crypto stands for, aside from the financial incentive they get from these "centralized coins." As long as the price keeps going up, who cares about the centralization and stuff? People is just care about how much money they can make.Lemme give another example:
$ETH -> The pre-mine
$SHIB -> Vitalik got 50% of the SHIB total supply for FREE.
$USDT -> How much real USD they keep in their vault, definitely not 100%.
$XRP -> Also created from the thin air.
etc. etc.
Hello,
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think
BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think
BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
.... i would like to hear what you guys think...
I can assume that these wallets that the OP indicated belong to the Binsnce exchange and, accordingly, they contain BNB coins of exchange users. But in any case, a lot of coins are in the possession of the exchange team, which were released in 2017 and partially unblocked this summer.
This is what I initially though, since it's obvious that BNB has been trading in Binance so they majority of it will be on their wallet, but doesn't it mean that they own it personally? That's two different things in my opinion.
And I'm not sure where the attack or hate from the OP is coming from. I mean there are projects that hold the majority of the stakes but still people invest on them even though it's centralized.
Firstly i don't hate BNB, i was searching around about BNB and how it works and looking for potential long term success and after seeing the holding wallets i was very surprised, i understand that much of it is probably from the staking, exchange..etc, but at the end of the day Binance own wallets have 83% of the bnb, my post was to ask experienced people in the field whether or not if that can effect the price and the confidence on the coin as i'm not sure by owning that much will it effect the network.
I'm trying to imaging what if ETH or BTC had 83% of it's coins owned by one entity would they still be as successful, my prediction is probably not, but maybe because of the future adoption of crypto and the increased volume this wouldn't effect BNB's price, idk
Hello,
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
That being said i have never been a big Fan of binance and cz as they are just getting to powerful and it is never good for a space if one player gets to strong and is dominating all the other companies. Binance is also not really decentralized which was the reason why cryptos were invented in the first place.
.... i would like to hear what you guys think...
I can assume that these wallets that the OP indicated belong to the Binsnce exchange and, accordingly, they contain BNB coins of exchange users. But in any case, a lot of coins are in the possession of the exchange team, which were released in 2017 and partially unblocked this summer.
This is what I initially though, since it's obvious that BNB has been trading in Binance so they majority of it will be on their wallet, but doesn't it mean that they own it personally? That's two different things in my opinion.
And I'm not sure where the attack or hate from the OP is coming from. I mean there are projects that hold the majority of the stakes but still people invest on them even though it's centralized.
..... My conclusion is that BNB is too centerlized and that means that any whale would think twice before investing in BNB, which negativly effects the price long term
Quote
that suggests to me that the success of BNB is directly linked to how successful Binance is and will be in the future
BNB was created for Binance so it only follows that its success depends on the platform and its chain. Quote
and that goes against everything that crypto stands for.
What does crypto stand for? Times have changed and people view it differently now.BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
This is very normal for me. It's also pretty reassuring in the future of BNB. But when we look at it from another point of view, it also poses a lot of danger. The fact that the majority of BNB is in binance shows that they support the project and prevent manipulations. But when we look at it from the other point of view, when there is no promising situation and things start to spiral, they may cause people to suffer by selling all their BNB to their investors. As long as they continue like this in the near future, I don't think there will be such a danger.
Hello,
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think
BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
My question is knowing that binance holds more than 83% of BNB how trustworthy or long term BNB can be? i seen coins with much less percentage held by devs fall to 0, so how is BNB any different?
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?. i am a long term holder in BNB, however after finding this facts i'm reconsidering my decision. i would like to hear what you guys think
BNB top holders:
0xbe0eb53f46cd790cd13851d5eff43d12404d33e8
0xf977814e90da44bfa03b6295a0616a897441acec
0x001866ae5b3de6caa5a51543fd9fb64f524f5478
If we examine the three wallets, the total BNB for the Ethereum and BSC blockchain is less than 20 million BNB. So, where does 83% of total BNB come from? Maybe we see the wallet, the total balance of Ethereum is bigger than BNB.
it was already known that the bsc blockchain was not decentralized even if all those bnb were not in possession of the binance exchange is in any case worrying that only three addresses hold over 80% of the total this means that they can significantly influence the market at their liking
Dude, the main application for BNB is to reduce the trading fees on Binance, a centralized exchange remember?? Sure, they are branding the BNB out of other uses but still, that's where everything is stated and investors gonna use it for what it really was, originally.
Of course, they, investors/buyers will hold their BNB at Binance exchange to use that features. What did you expect to say Binance owns all that amount puts in exchange's address and then switch to complain about 'it was too centralized'?
Of course, they, investors/buyers will hold their BNB at Binance exchange to use that features. What did you expect to say Binance owns all that amount puts in exchange's address and then switch to complain about 'it was too centralized'?
The common theme in most of the replies is that the coin is centralized and nobody actually knows how much does Binance hold but it's a large percentage, and i should trust binance to do the right thing and that they won't dump too hard.
My conclusion is that BNB is too centerlized and that means that any whale would think twice before investing in BNB, which negativly effects the price long term. that suggests to me that the success of BNB is directly linked to how successful Binance is and will be in the future and that goes against everything that crypto stands for.
Probably it's just a cold wallet of the Binance exchange. But yeah, this coin is centralized as the name suggests.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.
Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.
Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.
I have no idea that how much BNB is held by Binance but yes its a centralized type of digital currency just like XRP and such coins must not be mixed with decentralized crypto currencies like BTC, ETH etc. Once you identify something as centralized then any manipulation can be done with that thing whether its BNB or USD.
Worrying part is that we must
should i be worried of this?
No you don't need to worry about that part. Understand the underlying ideology of every coin first. If its centralized then its 100% under one entity control .
this report is wrong. in as much as Binance is centralized and have major investors as Holders. i think they are your assertion is wrong. Binance has been burning their token and they are removing a huge amount of it from circulation. i don't think those huge investors are finance holders. they are just investors. i don't think those wallet hold 80% of bNB tokens.
should i be worried of this?, people are freaked out that Satoshi holds 4.6% of bitcoin but somehow Binance holding 83% is normal?.
#SAFU word + everyone knows who is the founder and team ~XDWhat mu_enrico say is right, that just a cold wallet address as you can see every wallet have a custom name and is used for various transaction for the exchange transaction. BNB is used by Binance for various thing especially for new IEO no wonder why everyone is stored on Binance.
Probably it's just a cold wallet of the Binance exchange. But yeah, this coin is centralized as the name suggests.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.
Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.
I can understand if 82% of token resides in the exchange, because you can take part in various launchpad, staking, etc. and when the exchange got busted, the token will be rekt alongside it.
Anyway, I'd be more cautious of the recent warnings from various countries instead of this address centralization stuff.
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