Topic: Binance should stop Launchpad service and pump dump (Read 339 times)
You are absolutely right, mate! Even I did not expect this pump dump scheme things from the top exchange like Binance. They are manipulating the crypto market openly in front of everyone and most of the people are supporting it. But why? I did not have any intention to buy tokens from the Binance launchpad, but within 15-20 minutes, BTT all token was sold out! So, everybody knows now, it was bought from the Binance ownself and then they started manipulating! What is this exactly? We should stop supporting these bad tasks. I stopped trading in Binance and I hope many aware people will do the same.
As well we everyone know about Binance Launchpad service. They launce ICO on their platform and list on their exchange also. Although they do not give guaranty that they will list Launchpad token but we can see they did it few days back.
Why I think they should stop this service ? There is reason. Actually not much people's were buy their previous Launchpad token BTT. Most likely they bought themselves and hard pump after listed on exchange. Even I didn't invest on it but this pump effect on others coin. All coin volumes reduce and divert to BTT token. So automatically others token price dropped suddenly because Binance is a most important exchange now due to huge volume. That the reason other traders became on loss. I can say this pump and Launchpad is harmful for small traders like us.
Binance should stop this in order to keep quality trading. Otherwise may be people's will move their fund on other exchange like I have already have moved few fund on others exchange.
So what you think about it ?
Why I think they should stop this service ? There is reason. Actually not much people's were buy their previous Launchpad token BTT. Most likely they bought themselves and hard pump after listed on exchange. Even I didn't invest on it but this pump effect on others coin. All coin volumes reduce and divert to BTT token. So automatically others token price dropped suddenly because Binance is a most important exchange now due to huge volume. That the reason other traders became on loss. I can say this pump and Launchpad is harmful for small traders like us.
Binance should stop this in order to keep quality trading. Otherwise may be people's will move their fund on other exchange like I have already have moved few fund on others exchange.
So what you think about it ?
Do you have any proof what you claim?
That the BTT haven't sold out much during the ICO and Binance bought most of the BTT and later on pumped for their own benefit?
What we think will be based on proof and if your claim is true then yes I think traders of Binance should give a deep thought of trading there anymore.
If Binance can manipulate one token than they can manipulate any token any time.
It has portrayed itself to be the leading cryptocurrency exchange. Also it is the one that has got the got the best in the market with the increased circulation compared to many other exchanges available in the market. Launchpad service is a kind of public sale and the same is done with familiar firms, and there are people who make good money out of the same as the token is being listed to Binance shortly.
Dont think they will care a lot as us citizens that want fo use binance after a US ban will just use a VPN.
Bitmex doesn't (yet) force you to verify yourself like regular/spot exchanges do. If for whatever reason you trigger Binance's security system and they want your documents, you're pretty much ruined it for yourself. Providing them your US documents will point out that you violated their terms, and who knows what the consequences of that are.
In other words, you should care. Binance is busy trying to market itself as a trustworthy brand where they slowly but surely try to comply with the jurisdictions they operate in.
Say it to Arturo from BitMex. There was a huge pump of tron. +50% in a 15 min. Millions of contracts was eliminated including mine.
As well we everyone know about Binance Launchpad service. They launce ICO on their platform and list on their exchange also. Although they do not give guaranty that they will list Launchpad token but we can see they did it few days back.
Why I think they should stop this service ? There is reason. Actually not much people's were buy their previous Launchpad token BTT. Most likely they bought themselves and hard pump after listed on exchange. Even I didn't invest on it but this pump effect on others coin. All coin volumes reduce and divert to BTT token. So automatically others token price dropped suddenly because Binance is a most important exchange now due to huge volume. That the reason other traders became on loss. I can say this pump and Launchpad is harmful for small traders like us.
Binance should stop this in order to keep quality trading. Otherwise may be people's will move their fund on other exchange like I have already have moved few fund on others exchange.
So what you think about it ?
Why I think they should stop this service ? There is reason. Actually not much people's were buy their previous Launchpad token BTT. Most likely they bought themselves and hard pump after listed on exchange. Even I didn't invest on it but this pump effect on others coin. All coin volumes reduce and divert to BTT token. So automatically others token price dropped suddenly because Binance is a most important exchange now due to huge volume. That the reason other traders became on loss. I can say this pump and Launchpad is harmful for small traders like us.
Binance should stop this in order to keep quality trading. Otherwise may be people's will move their fund on other exchange like I have already have moved few fund on others exchange.
So what you think about it ?
It is obvious, not a new thing i guess, If you are in altcoins trading you should be aware of these pump dumps.
I don't know much about Binance Launchpad but i didn't find anything wrong in it, launching new projects with good vision is not a bad idea.
If you are small trader you should train yourself to move your coins instantly according to the situation and scenario.
You are actually making a good point, but we are actually the wrong person to channels this complain too, it is better to look for the ceo of binance on social media website like linkedin and tell him your observation and why you think the move isn't a good one and how he can project himself from making this kind of move anymore.
Though I believe they have made all their consideration and analysis before even accepting to least the token.
Though I believe they have made all their consideration and analysis before even accepting to least the token.
Anyway, Binance operator should be prepared for an US intervention, the SEC will not let a scammy exchange run and make money on securities fraud.
binance only problem will be they cant offer their services to US citizens, like bitmex. Dont think they will care a lot as us citizens that want fo use binance after a US ban will just use a VPN. 
Anyway, Binance operator should be prepared for an US intervention, the SEC will not let a scammy exchange run and make money on securities fraud.
I don't think that will be a problem for Binance since they become widely and many traders join with them. I am sure that Binance will take care of that, so traders don't have any problem while they trade. I think Binance cannot stop the pump & dump drama as they don't have full control of the market and they could only stop the pair for a while to make the pair get calm. I think Binance soon will become larger than now if they can maintain their services and they can give better than the other exchanges.
Anyway, Binance operator should be prepared for an US intervention, the SEC will not let a scammy exchange run and make money on securities fraud.
OP, I believe you should blame those stupid traders for losing their own money, and campaign for them not to use Binance's launchpad service.
Are loser's always stupid ? I don't think so. Everyone there for win, no one really try to lose. An exchange responsible is protect investors fund. Never mind who are losing on trade. Why people's don't like Yobit? Because they are pumping themselves and dumping as well. They don't care about investors. Main point is, really not much people's able to buy their Launchpad tokens. I suspect Binance keep it themselves and sell it high price.
As long as there is people who invest to get quick profits, don't care about the project except for quick profits, use hype to 'invest' in ICO, it is impossible to stop such exchange doing thing like this. Why Binance is so succesfull in their launchpad? Because there are people who use that as an opportunity to 'gamble' their money to get x5 from their capital. Does the project work? Not at all. Instead, a project which has been used and have a working product, doesn't get the same hype. How funny crypto is.
Small fish like us should know our value and should not argue. I think this is also the way Binance exchanges increase its revenue and maintain, upgrade Binance to a new level.
They have their own way to improve their revenue and we can't stop them. besides, it still helps many projects become better.
They have their own way to improve their revenue and we can't stop them. besides, it still helps many projects become better.
I think it should be stoped. I saw yesterday the token sale in Binance Launchpad of FET. Someone said to me to buy FET for him because he hadn't had a verified account. however, I tried to buy but I can't and I saw many users same to me and they report in CZ's tweet.
You can't do anything really, even though we have very much discussion and very long that authority remains the authority of Binance, they have full rights to it.
OP, I believe you should blame those stupid traders for losing their own money, and campaign for them not to use Binance's launchpad service, or any ICO platform service, instead of telling an exchange what they should or shouldn't do. What right do you have?
I fully agree with what you say, but there is a point that Binance will certainly maintain a service that has become so popular. Particularly, the Fetch ICO that was made yesterday was so serious that Binance Launchpad will be among the most profitable investment vehicles this year. Although it is a lucrative thing for the investor, I think that users are not treated fairly in this system because I joined the ICO just yesterday and I couldn't get a single token. I'm guessing that users who had a significant amount of investment in the Binance account were given priority, and we were not able to take advantage of this opportunity. I think that this application will be reflected in the price of Fetch quite positively.
Binance is a money making machine, they will do everything they can in order to generate volume and attract new users.
I do agree that it's quite bad for the legitimate projects overall, but there is nothing you can do other than stop buying ICO's and warn your friends and family members to not invest in them. Seriously, the far majority of the people only lose hard with ICO's, so the odds of you buying into an ICO (directly or indirectly) and lose money in the process is greater than you making money off of it.
Poor Ethereum, back in 2016/2017 it was the bomb, now projects have way more choice, plus the best option is Binance given their position in this market.
I do agree that it's quite bad for the legitimate projects overall, but there is nothing you can do other than stop buying ICO's and warn your friends and family members to not invest in them. Seriously, the far majority of the people only lose hard with ICO's, so the odds of you buying into an ICO (directly or indirectly) and lose money in the process is greater than you making money off of it.
Poor Ethereum, back in 2016/2017 it was the bomb, now projects have way more choice, plus the best option is Binance given their position in this market.
Agree with that, too many number of crypto on the market is bad for the crypto community, because currently there are no new money come in to crypto. For the better promote benefits of old crypto to new people so alot of investor will be come in to crypto .
As well we everyone know about Binance Launchpad service. They launce ICO on their platform and list on their exchange also. Although they do not give guaranty that they will list Launchpad token but we can see they did it few days back.
Why I think they should stop this service ? There is reason. Actually not much people's were buy their previous Launchpad token BTT. Most likely they bought themselves and hard pump after listed on exchange. Even I didn't invest on it but this pump effect on others coin. All coin volumes reduce and divert to BTT token. So automatically others token price dropped suddenly because Binance is a most important exchange now due to huge volume. That the reason other traders became on loss. I can say this pump and Launchpad is harmful for small traders like us.
Binance should stop this in order to keep quality trading. Otherwise may be people's will move their fund on other exchange like I have already have moved few fund on others exchange.
So what you think about it ?
What i think about it is, actually if we feel bad about that just avoid it. It is simple, but if we care to others, i don't think people out there don't know risk behind that. Just make sure myself is safe in crypto is already good for me. Why I think they should stop this service ? There is reason. Actually not much people's were buy their previous Launchpad token BTT. Most likely they bought themselves and hard pump after listed on exchange. Even I didn't invest on it but this pump effect on others coin. All coin volumes reduce and divert to BTT token. So automatically others token price dropped suddenly because Binance is a most important exchange now due to huge volume. That the reason other traders became on loss. I can say this pump and Launchpad is harmful for small traders like us.
Binance should stop this in order to keep quality trading. Otherwise may be people's will move their fund on other exchange like I have already have moved few fund on others exchange.
So what you think about it ?
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