decisions of traders and investors | Bitcointalksearch.org

Rufsilf

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after hacking on binance, I think this exchange is like there is no significant shock. with evidence that there are still many investors who remain in binance, and binance still has the highest volume of other exchanges. and myself at that time still had assets at binance, fortunately my assets are still safe today

Despite the hacking that happened to Binance, traders and investors still stayed to Binance because they were able to compensate those affected users which means they have insurance in place in cases like this. Also, Binance has a good reputation and I think the best among other exchanges, well atleast for me.

JohnBitCo

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after hacking on binance, I think this exchange is like there is no significant shock. with evidence that there are still many investors who remain in binance, and binance still has the highest volume of other exchanges. and myself at that time still had assets at binance, fortunately my assets are still safe today

I am also still trading at binance even I know that our funds are not safe there. They are the biggest trading exchange and they should have a fool proof system. As a precaution I do not keep extra funds on exchanges and withdraw as soon as I am done with trading.

FIFA worldcup

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Quote from: kamBlanV on May 12, 2019, 06:19:30 AM

after we heard that the Binance market was hacked, and 7000 BTC was lost from the Binance trade, in your opinion, what were the decisions of traders and investors?
1. Will they stay at Binance?
2. Will they go to another exchange?
3. if they leave Binance, what exchange will they choose?

You need to understand that even though binance was hacked, there was no loss to the customers funds. All the loss was insured by the safu funds. This means that binance exchange is the best. I do not think there is any exchange which is as big as binance is now and they are also establishing their decentralized exchange.

finaleshot2016

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Definitely will go to another exchange. If they don't have maximum security how will they assure that it will not happen again? Also, I doubt that the exchange really been hacked. They just get the money of their users and will just announce an excuse for hacking. It's very hopeless for those who are valuable users that lost a lot of BTC.

jhonjhon

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after hacking on binance, I think this exchange is like there is no significant shock. with evidence that there are still many investors who remain in binance, and binance still has the highest volume of other exchanges. and myself at that time still had assets at binance, fortunately my assets are still safe today

I’ve been using binance for a long time already and good thing I wasn’t affected by the current hack but if I were on the place of those affected, I guess i’ll feel hopeless but with binance step to compensate and handle the matter with ease only means that binance is prepared for anything that may attack them, with this I will still stay using binance because of its good reputation and services.

Fundamentals Of

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Quote from: kamBlanV on May 12, 2019, 06:19:30 AM

after we heard that the Binance market was hacked, and 7000 BTC was lost from the Binance trade, in your opinion, what were the decisions of traders and investors?
1. Will they stay at Binance?
2. Will they go to another exchange?
3. if they leave Binance, what exchange will they choose?

I don't use Binance right now but as far as it appears to me, it seems the supporters of Binance has not dwindled a bit. It seems the team behind Binance handled the incident properly. There appears to be no backlash of supporters. I guess, as compared to the hacking incidents of Cryptopia or Livecoin or even Etherdelta, the one involving Binance is contained in a way that did not drag its name into a nonredeemable situation.

Ridwan Fauzi

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I like binance because when 7000 bitcoin lost on their platform but they tried to convince their user to keep stay on the exchange. They tried to cover all of money who was stolen by hacker to each users, and they tried to improve their platform in order to the incident didn't come again.

All centralized exchanges can be hacked IMO, can you tell me how many centralized exchange have not been stolen? I guess just a few, most of them already conceded. If this happened, we can see the reputable exchange and an exchange who don't want to be responsible. And this thing will affect the reputation later.

Janation

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Why are asking the investors and the traders as a whole? They are not that stupid to save all of their Bitcoins in exchange, most of their Bitcoins and other cryptocurrencies in their ledgers and safe wallets.

As said by some, it is not the only exchange on the internet, there are a lot of others out there that you don't even know. Obviously, if they are the ones included in that 7K Btc, they are regretting they saved their Btcs into an exchange. They just need to trade and invest again to get back their lost. This is the internet, you can't really tell how secure or safe you are here.

Stedsm

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Quote from: kamBlanV on May 12, 2019, 06:19:30 AM

after we heard that the Binance market was hacked, and 7000 BTC was lost from the Binance trade, in your opinion, what were the decisions of traders and investors?

IMHO, Binance is not just another exchange out there and they assured as well as did return most of the funds of their clients till now. Being a trader, I'm fine with Binance as of yet.

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1. Will they stay at Binance?

Like I said, a trader would definitely use Binance again but as an investor, I'd never keep my money over an exchange as if it's a long term investment in BTC alone and even if in alts, I'll prefer to keep them in a safe wallet of which I'm able to hold the privkeys of addresses stored in it.

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2. Will they go to another exchange?

It's unpredictable just as the price of BTC and it depends totally on the sentiments of each trader as if they really find themselves safe while sticking to Binance or not. So, it's on a case-by-case basis.

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3. if they leave Binance, what exchange will they choose?

LIVECOIN... /s
With such huge assurance and security available at Binance and the way Binance CEO Changpeng Zhao deals with all the issues that come to and fro, I don't believe anyone can stop loving Binance.

P.S.: I'm not a shill of Binance exchange but just like the way they do their job.

Pyr3x

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A few months have passed. And now we can draw conclusions about what people have done. Traders and investors didnt leave with binance. Binanceremains one of the coolest exchanges. Everyone has already forgotten about this incident.

ubay

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1. Will they stay at Binance?

Of course yes, because binance have a high volume trading.

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2. Will they go to another exchange?

It was their choice, I was still loyal to binance.

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3. if they leave Binance, what exchange will they choose?

If that happens, maybe Bittrex will be the best solution.

Seth2009

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Quote from: rysea2 on May 12, 2019, 06:32:29 AM

Not all traders or investors will immediately leave binance after the hack event yesterday, even some of them still give good confidence to binance because I heard that binance will bear all the losses they experience without involving the funds of the users in it.

Agree, binance will still be among my top exchanges despite of the hacking experience... As you can see the ceo easily divert the issues and yet solve the problems... They are doing their best on their exchange so investors and traders still trust the platform...

kamBlanV

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Quote from: rysea2 on May 12, 2019, 06:32:29 AM

Not all traders or investors will immediately leave binance after the hack event yesterday, even some of them still give good confidence to binance because I heard that binance will bear all the losses they experience without involving the funds of the users in it.

how will Binance compensate them? will Binance give big compensation to users like MTGOX? I am sure that 60% still trust Binance. and Binance must repair the system damage again. especially in terms of security.

kamBlanV

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Quote from: traderethereum on May 12, 2019, 06:23:38 AM

We don't know what their decision is, but if you ask me, I will still stay at binance as a trader and investor.
I don't think that binance will stay without fixing the problem they are facing before.
But I don't just choose binance for trading or investing because I have the other exchange to trade and invest.
So binance is not my only option to search the profit from crypto.
But I guess the traders and the investors will stay at binance as me because they think that binance can solve every problem they have including the hacking news before.

good decision. Are you worried about the Binance exchange? yes. many other exchanges. but which exchange will you use besides Binance? maybe your answer can help me find another good exchange besides Binance. but. is Bittrex still safe today?

LUCKMCFLY

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Quote from: kamBlanV on May 12, 2019, 06:19:30 AM

after we heard that the Binance market was hacked, and 7000 BTC was lost from the Binance trade, in your opinion, what were the decisions of traders and investors?
1. Will they stay at Binance?
2. Will they go to another exchange?
3. if they leave Binance, what exchange will they choose?

An investor will not hesitate to leave the Exchange, how to trust an Exchange that does not offer security and that their trading options are very limited, I would go to another Exchange, at this time I would choose Bitfinex so I have problems with Tether, I think it is one of the safest and where I see that always the great speculators make the movements.

The case of the Investors is very delicate, it is a lot of money that is handled, Binance had an unblemished record, but I think that by letting go more than 7K in Bitcoins, it is something very delicate, because it is a lot of money, the people who lose Money does not usually stay in the same place because they know that at any moment it can happen again, and although all the Exchanges are now available, after this incident it is obvious that they will take all the necessary measures so that their security increases them to the maximum, the ways to access must be changed, because apparently the 2FA system is vulnerable to the algorithms of the Hackers.

avikz

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Quote from: kamBlanV on May 12, 2019, 06:19:30 AM

after we heard that the Binance market was hacked, and 7000 BTC was lost from the Binance trade, in your opinion, what were the decisions of traders and investors?
1. Will they stay at Binance?
2. Will they go to another exchange?
3. if they leave Binance, what exchange will they choose?

No exchanges are safe from hacker attack. Hacker will keep on their dirty game of stealing money so the first and foremost precautionary measure is not to keep anything in exchange wallet.

Secondly, Binance had created something called "SAFU" or "Secured asset fund for users" to deal with such unforeseen events. Do a little google search and you will find out more about it! Even though I use more than one exchange but I believe, with Binance - you are in safe hands!

pooya87

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all of the options will happen at the same time because not all traders are thinking alike. you should have asked what will the majority do and of course that is going to be only a guess on our part because only the exchange knows his own traffic and how much of it they have lost.
i think initially there will be a large number of investors who will leave the platform. then depending on their plans of "pay back" more people may leave but in a prolonged manner as they have to wait to be paid first to be able to withdraw .

Moiyah

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Quote from: ahmadinejad93 on May 12, 2019, 06:36:04 AM

It all depends on each investor, obviously I really do not know with their thoughts, Binance set aside funds called SAFU accounts, so that the losses will be fully borne at no cost to the user. The security review process, which is estimated to take around one week, will be carried out to prevent further attacks on the Binance exchange.

Quite true. But since OP is asking our opinions, if I were to ask about it. I'd rather stay and continue to use Binance exchange. Hacking thing is unstoppable. And the CEO of Binance assured that they will gonna return the lost btc funds. Good step to regain the trust of each investors. Binance is accountable for the hacked btc funds and should really retightened the security to get back their reputation.

ethereumhunter

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I am sure traders and investors will stay at Binance, no matter if they hear or know about the hacking on Binance in a few days ago. They will ask the support system if they have a problem with their account related to the hacked so the Binance support teams can resolve their problem. Besides that, I am sure Binance will give more protection for their members, and they will not let this thing happen again in the future.

iqlimasyadiqa

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Quote from: kamBlanV on May 12, 2019, 06:19:30 AM

after we heard that the Binance market was hacked, and 7000 BTC was lost from the Binance trade, in your opinion, what were the decisions of traders and investors?
1. Will they stay at Binance?
2. Will they go to another exchange?
3. if they leave Binance, what exchange will they choose?

Binance remains an attractive exchange service to use. moreover they have a warranty if something happens to someone's Binance account. like in the hacking action that happened some time ago, binance provides a guarantee of replacement. so in my opinion, Binance remains an attractive and appropriate exchange to continue to be used as a daily trading activity.

Topic: decisions of traders and investors (Read 599 times)