Update:
It seems the announcement does not affect and BNB price still goes up. It is still climbing from $33 (time of creating this topic) to $37 now, let us wait and see if this uptrend will be sustain if the shut off is implemented.
For now this thread will be locked.
Topic: Binance shutting off US traders will BNB value suffer? (Read 197 times)
I do not think this will hold much water except Binance will be shutting their site on them which I think is not possible, so far KYC is not required to deposit and withdraw from Binance and therefore a lot of users will still be on the exchange except where huge withdrawal per day is required which I think may not really apply to them
Did you not read the ammendment on the Binance Terms of use? IP's from US will be banned unless they are using ToR or VPN they won't be able to access the exchange. And if ever they found some suspicious changes of your IP, like a user's account logging in different country's IP then that account will probably subject to verification.
“Accordingly, some users may be required to furnish evidence showing that their account registrations are consistent with Binance’s Terms of Use. Binance regrettably cannot continue to serve users who are found to have violated the Terms of Use and are unable to demonstrate otherwise.”
I do not think this will hold much water except Binance will be shutting their site on them which I think is not possible, so far KYC is not required to deposit and withdraw from Binance and therefore a lot of users will still be on the exchange except where huge withdrawal per day is required which I think may not really apply to them
There will be users that are already looking for a way to bypass that and are now looking for a VPN that suits them.
I would be more careful when dealing with big money, since once the US found out that you are bypassing their authority, you know what will happen next. better listen to what the earlier reply stated.
Sure they will be a punishment for those people that will be caught by their gov't but I wish that soon they will lift this restriction so that the country will be called once again as the land of the free.
i don't think so or at least the chances of such drop is very small because centralized coins that are based on pump and dumps can not take effect from things that other normal altcoins take effect from. these coins are controlled by their owners (in this case the owner is a big exchange that also controls the platform where it is being traded!) so the price is 100% in their hands and at this point they don't allow the price to go down even if they have to waste money.
My opinion is that this short-term transition will slightly stir up the price of the stock exchange, and the exchange itself, but there are only qualified employees with the launch of the platform for USA.
Is the decision just recent? If yes! That's is serious. Consequentially, it may affects the price of the coin, but I'm confident, it can stop the mind blowing growth of the coin. We must know the world isn't all about US; though She is a force to reckon with.
It was updated on their BTU (Binance Terms of Use) some days ago. You can read more from here. As much as I agree that the world is not all about US but the influence this great country has to the world is simply unmatched as of today.
Is the decision just recent? If yes! That's is serious. Consequentially, it may affects the price of the coin, but I'm confident, it can stop the mind blowing growth of the coin. We must know the world isn't all about US; though She is a force to reckon with.
At least that is my opinion, also believe that their dex won't be a real DEX so it will get a bunch of hate.
Lol, CZ already admit that his Binance DEX is not trully a decentralized exchange as what we think it is.
A Tweet by ChangPeng Zhao(Binance CEO) himself:
Source: https://twitter.com/cz_binance/status/1098917213321408512?lang=en
There will be users that are already looking for a way to bypass that and are now looking for a VPN that suits them.
I would be more careful when dealing with big money, since once the US found out that you are bypassing their authority, you know what will happen next. better listen to what the earlier reply stated.
That will be a risk to take. If I have large money in the line, I will not do this. I rather wait for a US Exchange launched than take a risk of losing my money.
i guess BNB still have resistance without that.
chart just showing access traffic not holder of BNB
and probably US is a huge of trader than a holder BNB.
maybe,
chart just showing access traffic not holder of BNB
and probably US is a huge of trader than a holder BNB.
maybe,
We all know that part of Binance transaction fee goes to buy support for BNB. So if majority of these traders are cut off from the exchange for sometime at most 90 days probably, then this will definitely affect the demand for BNB.
I think this is very influential on the volume and price of the altcoin in the market, see after this news appeared a few days ago all the altcoin prices went down in tens of percent and binance coins also dropped even though it's not like other altcoins
I think this will not affect the BNB price in the market and US traders will still do something to trade in that exchange
Of course it will! A bunch of people saying yea just get a VPN if life was so easy then there wouldn't be censure in this world. The token is going to take a hit, the exchange will take a hit.
At least that is my opinion, also believe that their dex won't be a real DEX so it will get a bunch of hate.
At least that is my opinion, also believe that their dex won't be a real DEX so it will get a bunch of hate.
The price declined for awhile but after that it became good later. I don't see that there should be a big slash for their traffic there because they have already figured out what to do to continue using binance.
There will be users that are already looking for a way to bypass that and are now looking for a VPN that suits them.
There will be users that are already looking for a way to bypass that and are now looking for a VPN that suits them.
The price will definitely suffer because US customers will be cashing out their BNB. That would just be temporary though. Binance is planning to launch a US Exchange. Once this exchange is launched, US customers will be back and will push the price back up.
I think that this situation will not dramatically affect the volume. All people are smart and know how to use a VPN and how to buy fake documents on the black market.
That will be a risk to take. If I have large money in the line, I will not do this. I rather wait for a US Exchange launched than take a risk of losing my money.One question though, how would US authority see BNB. Would it be an equity token or a security token. If it is a security token then it won't be listed on the Binance.us unless CZ process the legalities of his BNB. Just like what happen to Huobi.us. They (huobi)have their native token HT but is not listed on their us exchange counterpart.
I think Binance has a way of marketing their coin and will look for whatever is attractive to keep the price of BNB afloat. With this move, BNB may not experience a fast growth as foretasted, it should enjoy some stability. Although binance plans to open market in the USA for US traders which will equally bring more life to bnb too.
CZ is a good market strategist. I believe he can maneuver BNB coins but with the possible hindrance coming from US SEC, I wonder how he will manage to keep his BNB price afloat. Shilling and manipulation?
I think Binance has a way of marketing their coin and will look for whatever is attractive to keep the price of BNB afloat. With this move, BNB may not experience a fast growth as foretasted, it should enjoy some stability. Although binance plans to open market in the USA for US traders which will equally bring more life to bnb too.
I think that this situation will not dramatically affect the volume. All people are smart and know how to use a VPN and how to buy fake documents on the black market.
You just voiced it out for me, I don't see it affecting them in any way, people have a way of maneuvering the system so Binance will be ok
I think this is a strategy from binance. If not mistaken, Binance launched "Binance US". So from that this strategy might be used to attract many US traders from various exchanges to move to Binance US. This is only my personal opinion.
i guess BNB still have resistance without that.
chart just showing access traffic not holder of BNB
and probably US is a huge of trader than a holder BNB.
maybe,
chart just showing access traffic not holder of BNB
and probably US is a huge of trader than a holder BNB.
maybe,
we can see a temporary effect but also binance going to open a new trading platform for USA customer and binance knows how to build and howw to get succedded.
The price will definitely suffer because US customers will be cashing out their BNB. That would just be temporary though. Binance is planning to launch a US Exchange. Once this exchange is launched, US customers will be back and will push the price back up.
I think that this situation will not dramatically affect the volume. All people are smart and know how to use a VPN and how to buy fake documents on the black market.
That will be a risk to take. If I have large money in the line, I will not do this. I rather wait for a US Exchange launched than take a risk of losing my money.
Yes, because major user base and volume on binance exchange is coming from USA but at the same time we have seen that such bans do not matter much because people start using proxy services and even fake documents to approve the account from another country but we will see what hapoens in case of binance it will be clear in upcoming weeks.
I don’t see a problem with this, as far as I know that Binance is already working on developing a platform for US citizens. If you look separately at the BNB chart after this news, I will tell you right away at its price that this news didn’t have much impact as there are not so many US investors.
I think that this situation will not dramatically affect the volume. All people are smart and know how to use a VPN and how to buy fake documents on the black market.
Given how overextended the price of BNB is this year (It's gone up like 500%) then I think it can suffer dramatically. It'll probably take some time before the fundamentals of lower volume actually effects the value of BNB (given it's based on trading fees), but it will likely take an extended correction given recent news. Binance thrives off good fundamentals and as a reliable exchange, with the trading fundamentals being threatened, it's going to threaten the value of their project directly. In the meantime, some other exchange shitcoin will probably moon that is still supporting US customers, which one is anyone's guess though.
We all know that Binance blocked users from some countries especially users from US. How would this affect the valuation of Binance coin? As this video shows that majority of Binance traffic came from the US so we can somehow assume that majority of its trader came from that country. Have a look at this the graph :
click the image for explanation
Blocking this huge user will definitely have a huge impact to Binance volume and there is a posibility that this will have a negative effect on Binance coins price. Do you think that BNB can sustain its uptrend path after a huge users were block from trading in Binance platform? Would Binance maintain its spot as one of the largest exchange in the market in terms of volume.?
click the image for explanation
Blocking this huge user will definitely have a huge impact to Binance volume and there is a posibility that this will have a negative effect on Binance coins price. Do you think that BNB can sustain its uptrend path after a huge users were block from trading in Binance platform? Would Binance maintain its spot as one of the largest exchange in the market in terms of volume.?
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