Topic: How Binance Is Becoming Too Powerful (and really scary). (Read 951 times)
many argue that binance is a project that has great potential in the future and that is one of the reasons Binance has so far been strong because most investors or traders use their projects. I also don't doubt the potential possessed by this binance.
Binance rose to fame like really fast, but anyway, I don't think that makes it the strongest or the biggest exchange there is. Binance is big, I know that, but there is Coinbase to compete with it as well. Coinbase is another big exchange and is even bigger than Binance. But their only problem and what makes binance to seem like they are getting better is because coinbase do kyc and lots of people who trade or makes use of cryptocurrency don't like to do kyc. So binance is beating them with that and another thing is that coinbase does not allow trade from every location, there are some countries that are restricted from reading with coinbase, whereas in binance anyone is free to trade. If they can take out all these rules, then they will be beat binance hands down.
I don't think this is scary, rather this is the opportunity! Even if the Binance overcomes Ethereum I would not be surprised! Binance has strong community support, they keep promises, they keep developing the platform to give profit to its supporters and every attempt from Binance is being successful! Because other big coins are the Binance supporter too! So, we should celebrate it and I hope within two years BNB price will be 250-500 USD!
Honestly, I am not afraid of binance getting too big because I trust binance, would you rather have 10 places that you are not sure about or 1 place you are definitely sure about.
If binance wasn't this powerful and we spread the volumes over to 10 exchanges next than we may had 2-3 bad "hacks" like binance recently had that would have affected the market horribly whereas right now we have binance which can continue to operate even after getting 7000 bitcoins hacked.
If binance wasn't this powerful and we spread the volumes over to 10 exchanges next than we may had 2-3 bad "hacks" like binance recently had that would have affected the market horribly whereas right now we have binance which can continue to operate even after getting 7000 bitcoins hacked.
I think Binance is not really scary and yes,I see Binance has strength and now we can see Binance can recover quickly after being hacked, even though at that time the BNB price had dropped to $19 but now the BNB really shows that they can recover from that problem
There is no point in fearing binance exchange and its coin BNB as in the free market, any product can be supported by the community and it can get popularity so much. But that support and popularity will remain as long as it continues winning hearts of the people. Binance has been doing well in the market so far and it deserves supports from the people.
Yes, Binance does have a lot of community support. This exchange has advantages over other exchanges. That is why many traders choose Binance.
many traders choose Binance because they have a very high level of trust and traders are not afraid to lose their money 
Honestly, I am not afraid of binance getting too big because I trust binance, would you rather have 10 places that you are not sure about or 1 place you are definitely sure about.
If binance wasn't this powerful and we spread the volumes over to 10 exchanges next than we may had 2-3 bad "hacks" like binance recently had that would have affected the market horribly whereas right now we have binance which can continue to operate even after getting 7000 bitcoins hacked.
If binance wasn't this powerful and we spread the volumes over to 10 exchanges next than we may had 2-3 bad "hacks" like binance recently had that would have affected the market horribly whereas right now we have binance which can continue to operate even after getting 7000 bitcoins hacked.
Yes, its happening now. I foresee that Binance will now rival eth in terms of tokenization. See how many good and big projects jumping ship already? In terms of, IEO Binance is the number 1 candidate producing potential projects and I can see that all theyve listed so far has a good platform such as Harmony which my favorite of all.
Other exchange follow them and some project join them. Like the old saying, if you cant beat them join them. Binance coin holder here.
Let's not forget that the two project have their own utility and functions differently. For exchange Binance is your friend for Dapps deployment Eth is your friend. One can't perform the function of the other that makes them distinct in their own ways. Other exchange follow them and some project join them. Like the old saying, if you cant beat them join them. Binance coin holder here.
If you say, binance is becoming too powerful, yes I agree with you. However, it is not a power takeover or a power by force. Whatever they have become today is because they work day and night to attain that. They keep improving and innovating themselves for the betterment of the crypto space. They are not slowing down and they keep evolving at every point. This should be a wake up call to other exchange platforms to up their games and put up a healthy competition with binance and stop following them like a dog and its keeper.
I really don't see anything scary about binance dominating the exchange market and becoming one of the top, it just means a wake up call for other exchanges, before it was Bittrex, polonix, kraken but some how the manage to loss their glory and fall behind,
Binance on the other hand has been focus on service delivery and going the xtra miles to make that happen, now lunched its on chain the sky is the limit for binance no doubt.
Binance on the other hand has been focus on service delivery and going the xtra miles to make that happen, now lunched its on chain the sky is the limit for binance no doubt.
Yes, Binance does have a lot of community support. This exchange has advantages over other exchanges. That is why many traders choose Binance.
1. if you are trading at binancce then BNB is really a worth to have.
If not then you should have it as investment.
now we are here i think BNB is a goo thing to have...
If not then you should have it as investment.
now we are here i think BNB is a goo thing to have...
I feel like binance bringing too much centralization to the crypto world but also i believe they are causing their own bubble with ieo's and bnb.
I wonder how this will end. I don't think in future binance will control everything so there will be a burst at some point.
I wonder how this will end. I don't think in future binance will control everything so there will be a burst at some point.
As the exchange is constantly evolving, updated, every month the exchange holds a new IEO. I believe that these factors are fundamental and affect the success of the project.
And just the next IEO will be able to push the price of Binance Coin above $ 40. I think that the coin is very promising for growth. 
As the exchange is constantly evolving, updated, every month the exchange holds a new IEO. I believe that these factors are fundamental and affect the success of the project.
It is completely wrong to be dependant on binance as we should be pushing for decentralisation. Hopefully it will not overtake ethereum which i suspect it won't
Binance knows it limit and shouldn't be use to compare with Bitcoin or Ethereum. We know them to the best exchnage around the world of cryptocurrency but that will not grant them or make them to be threat to any coin from 1-5 on the coinmarketcap, so, nothing to be afraid of. Although Binanace coin is my favorite but will not over-throne Ethereum.
I don't think this is scary, rather this is the opportunity! Even if the Binance overcomes Ethereum I would not be surprised! Binance has strong community support, they keep promises, they keep developing the platform to give profit to its supporters and every attempt from Binance is being successful! Because other big coins are the Binance supporter too! So, we should celebrate it and I hope within two years BNB price will be 250-500 USD!
Binance dare to take a risk and use it as a good opportunity to gain more from the market and do better for investors. I think it will be a good market if there is competition like this. So each coins has to do more improvement day by day.
The way binance is rapidly grabbing on to power in cryptocurrency may be scary but at least they are doing it in a way that benefits their investors and users. Slowly, BNB might overtake Ethereum to be the 2nd most influential crypto coin after BTC simply because the developer is constantly effecting changes and dynamic updates
Binance has become a very powerful exchange and the leading one for that matter. Even though it is very powerful, it has its users at heart. Imagine when this exchange was hacked, it used its reserve funds to pay for the users funds which I think is applaudable.
Binance is just going to the top perhaps only due to quality team of developers who are active and delivering the features quickly that are required and demanded by the investors and traders so at the moment there is no stopping for binance but i hope soon some other projects will also raise their standards to compete with binance.
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