Does Binance own more than 50% BNB on the market ?

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Quote from: mumang siat on November 07, 2021, 02:16:34 PM

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All of it happens in a decentralized manner, it's possible that binance holds a lot of bnb at the moment. However, you do not need to worry about BNB has been running for a long time it actually grows better. Binance is also a verified exchange I'm sure it's very much to keep BNB. Typically, the owner/CEO holds many BNB assets but it will be locked down over a very long period of time so it is safe to invest in BNB.

From the beginning of the emergence of BNB many people were not so sure about its future, but slowly they began to prove that investing in BNB is much safer, even if Binance keeps a lot of BNB at this time, then what is the most basic concern for us to fear in investing in it, isn't it a trend? and their current position in the market is enough to convince many people, even for this month BNB is pumping pretty well.

Although it owns or not 50% of the coins, it has been in the market for a long time, in fact BNB is one of the coins that have become the most winning, not only for its price increase but also for the expansion of projects In their BSC network, this is a great achievement, and although it is in a fully decentralized Exchange it is still the best currency for investment projects, I do not know how much they are ahead of the metaverses, but I know that if the total supply still has a 50% withheld will not do bad or sell because their project is large enough and has macro objectives to achieve.

mumang siat

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All of it happens in a decentralized manner, it's possible that binance holds a lot of bnb at the moment. However, you do not need to worry about BNB has been running for a long time it actually grows better. Binance is also a verified exchange I'm sure it's very much to keep BNB. Typically, the owner/CEO holds many BNB assets but it will be locked down over a very long period of time so it is safe to invest in BNB.

From the beginning of the emergence of BNB many people were not so sure about its future, but slowly they began to prove that investing in BNB is much safer, even if Binance keeps a lot of BNB at this time, then what is the most basic concern for us to fear in investing in it, isn't it a trend? and their current position in the market is enough to convince many people, even for this month BNB is pumping pretty well.

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Quote from: galambo on October 31, 2021, 01:49:47 AM

Comparing Eth with BNB is like comparing apple with oranges. Eth is completely decentralised crypto that is maintained by its community of developers, while BNB is centralised coin whose blockchain is controlled by Binance. Seeing the rise of crypto many centralized coins were launched like EOS, XRP etc. But they are against the ideology of crypto. I am not surprised whether binance has 82% or 50% of BNB, since they control the blockchain they can manipulate token distribution according to there desires.

Reading this I thought you talk about BTC and ETH Grin

ETH isn't fully decentralized either. In the past several decisions were made by a small minority of developers that just pushed their "vision" or rolled-back mistakes.
Centralized to some degree isn't necessarily bad though. Of course, with Binance as a centralized exchange it is no surprise that BNB is fully under control of Binance.

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

You can check it out here https://whitepaper.io/document/10/binance-whitepaper

That's based on the old allocation when binance was doing ico but time is changing so fast and total supply of binance was less than 200 millions token right now coz binance was doing regular burn to its token from using the revenue that already generated from its exchange site. I would say that binance coin less decentralized. You can see that from the old whitepaper if team was holding a lot of tokens but this already used for the various purpose - tokens that already burned.
Remember that 20% gone to the angel investors and that's only 30% owned by binance exchange site.

Quote from: Anthony_4 on November 05, 2021, 07:09:39 AM

Bianca a centralized a coin and that's why if you're worrying about it, you have to do more research about its whitepaper.

It's not a decentralized coin. You are the right party who must have done proper research about that. it's clear that if you're not even reading binance whitepaper and you didn't even understand what meant of decentralized is.

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Quote from: takngantuk on November 05, 2021, 08:17:16 AM

Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

I don't know, I haven't found an article that talks about this. and CZ didn't provide any information about this either. for decentralization issues at bnb. this is actually nothing new. This issue has been around for a long time. and i see bnb is not fully decentralized. for a coin that is not mined, decentralization is far from being a reality. and bnb is definitely trying to make itself the center of crypto. so this is already hurting decentralization.

The information shared is not sourced from official news, articles are made only based on requests for existing problems, decentralization is basically there in BNB but not so strong, because many competitors are starting to put themselves in the center of crypto, which means BNB also wants the same thing , so decentralization is not significantly related and I think it is far from decentralized.

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

I don't know, I haven't found an article that talks about this. and CZ didn't provide any information about this either. for decentralization issues at bnb. this is actually nothing new. This issue has been around for a long time. and i see bnb is not fully decentralized. for a coin that is not mined, decentralization is far from being a reality. and bnb is definitely trying to make itself the center of crypto. so this is already hurting decentralization.

Anthony_4

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Bianca a centralized a coin and that's why if you're worrying about it, you have to do more research about its whitepaper.

mbakruroh

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

I think more than 50% of BNB coins are on the exchange. There are 531 exchange methods for BNB coins. If we look at Coinmarketcap's records, the amount of BNB in circulation reaches 100%. This means that the reserve of BNB coins is zero, so the current dump of BNB coins depends on the market or those who hold large amounts of coins.

mumang siat

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Quote from: bamb on November 02, 2021, 10:26:30 AM

The controversies about the supply of bnb owned by binance will continues until CZ come out to clarify bnb supply. A lot of people believes binance is centralized and do not care about cryptocurrency ideologies but profit of it's business!

The supply controversy has nothing to do with any of that, in fact Binance is centralized, even though they don't care about cryptocurrencies, so whatever they do is only about profit, but on a general scale Binance can do that, as long as it doesn't go against the basic rules set by cryptocurrencies, to get maximum results, maybe it needs to be done, because actually all coins want the development of everything they do.

bamb

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The controversies about the supply of bnb owned by binance will continues until CZ come out to clarify bnb supply. A lot of people believes binance is centralized and do not care about cryptocurrency ideologies but profit of it's business!

khiholangkang

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

That's right, it can be seen that on the BSC network alone, more than 50% has been held on Binance Exchange, not to mention on other networks. FYI BNB is in 3 networks, BSC ( BEP-20 ), Binance Chain (BEP-2), and BNB (ERC-20)
https://bscscan.com/accounts

Why does Binance Exchange hold so much BNB? Because if the user holds the BNB token on the Exchange, there will be a lot of benefits.
- Staking (you can get profit up to 5% per month)
- Binance Launchpad / Launchpool (Can provide at least 10x profit from the total purchase)
- And many more events held by Binance which are very profitable for holding BNB tokens

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This seems very difficult to figure out as not many people know the source of information about this, but the little information I know about the supply of BNB is limited to a maximum of 200 million coins and as a BNB developer, periodically burns the supply of BNB to ensure the supply is not too large. Burns are carried out by Binance every three months by buying BNB worth 20% of the company's profits. The purchased coins are then destroyed on the blockchain network so that the transactions become transparent.

NFTking84530

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I consider Binance to be one of the most centralized platform actually. They own about 82% of BNBs, so things are even worse. Wink

BitcoinAccepted

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We are not sure about that since there is no proof whether they hold 50% or more on their own wallets. I was just curious how BNB was produced or mined was it every transaction in the Binance app they produce a BNB? The last time I looked at BNB it is around $20 to $25 I really missed a lot of opportunities lately.

But back to your topic there is no proof or evidence that the Binance own more than 50% of the BNB on the market.

lvsca

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You can see it on the existing network on BNB. There's all the silence visible. But no one knows if binance holds more than 50% of the bnb. I'm not sure about that. During this time, BNB is very well stored and already many people believe about investing in this asset.

vv181

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ?

There's a thread that discusses whether does Binance own such an enormous amount or not: Binance owns 82.69% of BNB . In short, I think Binance does not own such percentages but rather they are in full control of it.

Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

How decentralization BNB coin is ?

With the current situation, it does not contain decentralization at all.

Quote from: https://twitter.com/WilsonWithiam/status/1381420702918664194

Some might overlook the influence Binance Chain has over Binance Smart Chain's validator set.

BSC has 21 active validators, making it more centralized than most platforms.

This validator set is determined daily by Binance Chain, a network managed by just 11 validators.

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Quote from: gwdf1 on October 30, 2021, 11:31:05 PM

As I know Binance own about 82% of BNBs, so things are even worse. I consider Binance to be one of the most centralised platform actually. There are only 21 people who can confirm transactions. Compare it to thousands of miners in Ethereum network or Bitcoin and understand to what extent this project is centralised .

Comparing Eth with BNB is like comparing apple with oranges. Eth is completely decentralised crypto that is maintained by its community of developers, while BNB is centralised coin whose blockchain is controlled by Binance. Seeing the rise of crypto many centralized coins were launched like EOS, XRP etc. But they are against the ideology of crypto. I am not surprised whether binance has 82% or 50% of BNB, since they control the blockchain they can manipulate token distribution according to there desires.

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

As I know Binance own about 82% of BNBs, so things are even worse. I consider Binance to be one of the most centralised platform actually. There are only 21 people who can confirm transactions. Compare it to thousands of miners in Ethereum network or Bitcoin and understand to what extent this project is centralised .

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Quote from: BayekSmith on October 30, 2021, 01:31:52 PM

Does Binance own more than 50% BNB on the market ? How decentralization BNB coin is ?

Actually, their percentage of holding is even higher. If you check a folder BNB Token Holders on Etherscan you will find out that Binance has more than 82% that are distributed between several accounts and we see that this coin is extremely centralised as well as Binance Exchange and Binance Smart chain, so if don't trust such centralised projects, avoid Binance.

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I don't have any resources and official information about Binance owning half of the total supply of BNB. But as known, it's a centralized a coin and that's why if you're worrying about it, you have to do more research about its whitepaper.
They also have scheduled burning and that's why many investors do like it. The burning thing makes the value of it higher every scheduled date.

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