Cz or the Sec who would you support? - page 7.

Fivestar4everMVP

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

Well, I think you said it all, the sec represent the government, and we all what the government are after, they just wanna be in control of every dam thing in this world, they make the law, and manipulate the same law to suit themselves when ever its not in their favor, the government have nothing to offer, other than to keep taxing us and then keep enriching themselves so they continue to remain in power and control..

Though I am particularly more interested in the decentralization of the entire crypto currency ecosystem, I have to state that in this fight, we as crypto holders and community must stand up for CZ, and Binance, it is true that it was done in a centralized way, but the truth remains that CZ in his capacity has brought more adoption to bitcoin much more than we all can imagine, so the sec must not win the battle, we must do all we can to ensure that does not happen.

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From a purely objective point of view, I think I will stand in opposition to both of them, given that they are both supportive of centralization and do not support the principle of privacy. I still advise using decentralized platforms and avoid using any of the centralized platforms, especially with large savings.
On the other hand, I am convinced that the US authorities are launching an attack on crypto service platforms to serve goals that fall within the same framework as the policy of centralization and non-privacy. I mean, it can be said that both of them are fighting over who will have the capacity to penetrate the privacy of users and impose decisions according to what mainly serves their interests. The Binance platform is not a pure angel, and it cannot be said that it is subjected to injustice, and the SEC is not a sponsor of rights and freedoms, since it has turned a blind eye to all platforms for years, waiting for the right time to target it if it opposes it in its policy one day.

panganib999

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My faith is on CZ himself. As they crackdown on all cryptocurrency activity in the US, this attack against CZ is more like an attack to bitcoin itself with the man being caught in the collateral damage. He's built a pretty nice albeit imperfect enterprise for himself and millions of people that used his service, and it stood the tests of time too with all these multiple bank runs they issued just to see if what CZ claims is true. Plus the SEC hasn't been the most upfront and honest department in the US. All filled with Senile people who barely know what the internet is and how it works, I can't really be confident in their judgement. Binance is regulatory, sure, and must follow within the laws and ordinances of its country of operation, but I don't think there's any real violation made by Binance, that is if you think that I don't know, using cryptocurrencies is legal (which it supposed to be is like what the hell?)

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

I see this conflict as Bitcoin vs FIAT or Bitcoin vs USD so I'm definitely with CZ on this one. I won't be too surprised if it'll turn out to be a political issue and US are trying to punish CZ for not supporting Ukraine enough (not banning Russian users, freezing their funds etc). In any case its just another attempt to wage war on Bitcoin, so I definitely support CZ and Binance. Cool

gunhell16

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

I don't choose between those two, because Binance is just another big exchange that is under regulatory business that must follow the rules. And this is a business that is still in the category of a centralized-based system.

Whereas the SEC wants nothing more than to control whatever they think is beneficial to them. All cryptocurrencies they say and think are securities except Bitcoin which they can't really dictate. Sometimes what the Sec does is irritating, to be honest, I often notice that they only do Fud in these situations to affect the movement of the market in the crypto business industry.

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

What's your say on this?

Picking sides without understanding the issue will mean picking the wrong sides. The SEC has a purpose and it will be wrong to criticize them for performing their function unless there is clear proof that they have overstepped. CZ runs a big exchange, one of the biggest in the world, he has earned the trust of many people, but since trust can be abused, the SEC is there to keep a watchful eye on his activities so he does not misuse people's trust.

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Quote from: Gyfts on June 08, 2023, 04:00:27 PM

Quote from: Nwada001 on June 07, 2023, 02:47:45 PM

I'm not supporting anyone on this issue; both the SEC and Binance CEO are not completely clean; they all have what's going on for them under the ground. In as much as the SEC is claiming to be protecting their investors interests by deciding for them on what's safe and what's not safe, I always see a personal interest and attack over their past and present cases with crypto exchanges.

I'm not one to normally take sides on legal matters until I see the entirety of evidence either, but keep in mind the SEC hasn't been clear on the statutory language of crypto and their classification as either commodities or securities. They'll create a treacherous legal environment to begin with, then start filing lawsuits at companies they want to target.

Subpoenas start being thrown around (judges will sign them off without cause) and then the U.S. government can force company executives to show up to court, and if they refuse, they become immediate criminals.

Totally im with this on which im not really that a fan on taking sides when we do speak about legal aspect or matter on which if there's something that needs to be clarified and prove out then it should really be needed up to be presented and its not really that shocking that government sectors would really be targeting out those companies or services or whatsoever that they would be able to spot out. You would really expect that there would really be that pressuring type of condition specially into the ones who had been accused or sued out or whatsoever in correlation into it.

Im not really into that kind of supporting just because this is what ive been using for several years now in speaking with Binance. If ever there are issues and been proved out then we do
know on whats next but i wont be shocked if this one would be an another show made by SEC which it isnt something new.

Gyfts

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Quote from: Nwada001 on June 07, 2023, 02:47:45 PM

I'm not supporting anyone on this issue; both the SEC and Binance CEO are not completely clean; they all have what's going on for them under the ground. In as much as the SEC is claiming to be protecting their investors interests by deciding for them on what's safe and what's not safe, I always see a personal interest and attack over their past and present cases with crypto exchanges.

I'm not one to normally take sides on legal matters until I see the entirety of evidence either, but keep in mind the SEC hasn't been clear on the statutory language of crypto and their classification as either commodities or securities. They'll create a treacherous legal environment to begin with, then start filing lawsuits at companies they want to target.

Subpoenas start being thrown around (judges will sign them off without cause) and then the U.S. government can force company executives to show up to court, and if they refuse, they become immediate criminals.

bluebit25

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This is a complex and challenging issue for the cryptocurrency industry. Cryptocurrency management and supervision is essential to avoid fraudulent activities and risks. However, there needs to be a balance between control and the viability of cryptocurrencies. I don't want to lean on any one side, what I need here is honesty and clarity between the parties, the side stories of the past day make me feel that the problem is becoming a joke between the parties involved. Anyway, hope that no matter what happens, transparency in matters will be enhanced, we always aim for a healthy environment.

teosanru

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

I obviously won't say that SEC is very clean and doing all this for betterment of the society but honestly Binance themselves aren't very clean. We all know how many market manipulations has Binance been accused of so far. Not only this we even know it had a hand in the FTX thing as well. So obviously if you support Binance also be sure you are supporting a side which has done many bad things for retailers as well.

bittraffic

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Quote from: someone703 on June 08, 2023, 01:23:44 PM

Both regulators like the SEC and crypto exchanges like Binance and Coinbase have their own motives and interests. While the SEC enforces securities laws and protects investors, this sometimes leads to conflicts with cryptocurrency exchanges that may operate in ways that are perceived as non-compliant or risky. Exchanges like Binance and Coinbase have played an important role in promoting and facilitating cryptocurrency adoption. So no matter who wins the case, there will be a big change in the crypto industry.

If SEC protect investors, they will need a real written laws and guide for crypto. But if they could not even give a reason why a coin is a security, they better just step back.

These exchanges had been approaching them for years to lay their terms but clearly SEC wants to corner crypto companies with guides they don't even have but century howey test that dont apply to digital assets.

When Gensler said we don't need digital currency because we already have them like USD and all the major currencies, it means he really want to eradicate crypto. And not protect investors.

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

I support bitcoin. Cz is a great guy who has built one of the best crypto organizations in the world and has been at the forefront of bitcoin and crypto advocacy since I have known him. The SEC on the other hand is doing their jobs. Irrespective of the charges they brought against Binance, CZ, Coinbase they are just doing their jobs to keep the crypto space clean and make everyone sit up. Honestly, without them we would have scams and fraudulent crypto organizations trying to rip customers off. So, that is why I said I support bitcoin. it is honest. It is neutral.

someone703

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Both regulators like the SEC and crypto exchanges like Binance and Coinbase have their own motives and interests. While the SEC enforces securities laws and protects investors, this sometimes leads to conflicts with cryptocurrency exchanges that may operate in ways that are perceived as non-compliant or risky. Exchanges like Binance and Coinbase have played an important role in promoting and facilitating cryptocurrency adoption. So no matter who wins the case, there will be a big change in the crypto industry.

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Quote from: Helena Yu on June 07, 2023, 10:53:37 PM

Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.

Do you think Binance doesn't want to control everybody? why did they force their customers to complete KYC verification when they were not?

Yes Binance wants to keep everything and everyone under their control. Previously KYC was not mandatory to use Binance but now they have made KYC mandatory and if any user wants to use Binance he must kyc. here Binance is forcing everyone to kyc. Now the problem is with Binance us which is not related to Binance.com. However, this problem with Binance.us may have some impact on crypto. Because Binance is known as one of the largest exchanges and the message of its problem may strike fear into the minds of Binance users. Because crypto users have seen another major exchange FTX go bankrupt

Unbunplease

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If the SEC wins, it will be pretty bad for the cryptocurrency world, regardless of how fair their charges are. The SEC can also show that they can destroy any altcoin they don't like. That's why I support SZ. I hope he manages to find a decent argument in this uphill battle

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Quote from: DanWalker on June 08, 2023, 11:13:19 AM

Quote from: bayu7adi on June 08, 2023, 09:56:05 AM

Quote from: hyudien on June 08, 2023, 07:47:53 AM

I'm still acting normal because CZ role is only as an exchange service provider, not to make us truly profitable. The noise that the SEC creates always destroys everything, prices in the market, stability of public trust and it all makes us realize that no one can be trusted to store assets other than private wallets.

Indirectly, we experience the positive impact of Binance, the number one cryptocurrency exchange according to CoinMarketCap. Even if you don't use it yourself, you still benefit from its existence because Binance strengthens the cryptocurrency community. The services provided by Binance are unquestionable and trusted by millions of people worldwide.

As for taking sides, since I have never favored the SEC, I support CZ in his quest to survive and soar high once again. The fact that he has proven his innocence is already good news for the crypto community and a blow to the SEC's reputation.

Most of the answers favor neither side, which is understandable since both are in their own interest and not for the benefit of people and the entire crypto industry. But to choose, I will also support and hope CZ will win this case. Not that I believe CZ is a really good person, but because I believe that if the SEC wins this war, they won't stop. I have a hunch that they are targeting everyone, including us, and not just centralized exchanges.
In this case, the SEC represents the government, and Binance represents the crypto industry, so there is no reason for us to refuse to support Binance in its fight against government repression.

People have become too selfish and have too much hatred toward centralized exchanges, so they are turning a blind eye to this suppression. But they don't know why the SEC is targeting the two biggest companies in the crypto industry, Binance and Coinbase. I also agree that the SEC is having a bigger plot than just cracking down on exchanges, what they want is to control this entire market. All participants in the investment will pay taxes and abide by the rules of the game set by them.

avikz

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

As a part of the crypto ecosystem, I will definitely support Binance as it plays a huge role in building this entire ecosystem. It's one of the most trusted exchanges in the entire world. SEC is unfortunately trying to attack them so that they can make this ecosystem fall.

As a government organisation, SEC will speak the language the government which tries to control everything. Unfortunately, controlling crypto ecosystem is out of their capacity. Hence they are targeting the exchanges which acts as bridges between the mainstream economy and cryptocurrency.

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Quote from: bayu7adi on June 08, 2023, 09:56:05 AM

Quote from: hyudien on June 08, 2023, 07:47:53 AM

I'm still acting normal because CZ role is only as an exchange service provider, not to make us truly profitable. The noise that the SEC creates always destroys everything, prices in the market, stability of public trust and it all makes us realize that no one can be trusted to store assets other than private wallets.

Indirectly, we experience the positive impact of Binance, the number one cryptocurrency exchange according to CoinMarketCap. Even if you don't use it yourself, you still benefit from its existence because Binance strengthens the cryptocurrency community. The services provided by Binance are unquestionable and trusted by millions of people worldwide.

As for taking sides, since I have never favored the SEC, I support CZ in his quest to survive and soar high once again. The fact that he has proven his innocence is already good news for the crypto community and a blow to the SEC's reputation.

Most of the answers favor neither side, which is understandable since both are in their own interest and not for the benefit of people and the entire crypto industry. But to choose, I will also support and hope CZ will win this case. Not that I believe CZ is a really good person, but because I believe that if the SEC wins this war, they won't stop. I have a hunch that they are targeting everyone, including us, and not just centralized exchanges.
In this case, the SEC represents the government, and Binance represents the crypto industry, so there is no reason for us to refuse to support Binance in its fight against government repression.

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Quote from: hyudien on June 08, 2023, 07:47:53 AM

I'm still acting normal because CZ role is only as an exchange service provider, not to make us truly profitable. The noise that the SEC creates always destroys everything, prices in the market, stability of public trust and it all makes us realize that no one can be trusted to store assets other than private wallets.

Indirectly, we experience the positive impact of Binance, the number one cryptocurrency exchange according to CoinMarketCap. Even if you don't use it yourself, you still benefit from its existence because Binance strengthens the cryptocurrency community. The services provided by Binance are unquestionable and trusted by millions of people worldwide.

As for taking sides, since I have never favored the SEC, I support CZ in his quest to survive and soar high once again. The fact that he has proven his innocence is already good news for the crypto community and a blow to the SEC's reputation.

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Quote from: Youngkhngdiddy on June 07, 2023, 02:10:46 PM

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

Personally, I don't support anyone, I don't even have any interest in either of them. Even if it's the way the SEC works, which often makes the market rowdy, especially trying to drag Bitcoin, that's what makes me never like the SEC. Since the beginning, the SEC has always wanted to destroy anything that is considered not following its rules. Both exchanges and cryptos that are their target have an impact on other sectors. Not a few people glorify CZ, but once again personally, I'm still acting normal because CZ role is only as an exchange service provider, not to make us truly profitable. The noise that the SEC creates always destroys everything, prices in the market, stability of public trust and it all makes us realize that no one can be trusted to store assets other than private wallets.

Topic: Cz or the Sec who would you support? - page 7. (Read 1065 times)