How Binance Is Becoming Too Powerful (and really scary). - page 3.

Vitalicus

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Quote from: TheClownSong on June 10, 2019, 12:55:20 AM

Quote from: Dacosta Osei-Tutu on June 09, 2019, 06:30:46 PM

That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

I am agree with you. Binance offering best service to their member and right now become a biggest exchangers in crypto world. I dont think binance becoming scary because when market growing more bigger and volume increase, its good for bitcoin or altcoin price

Any investment in Binance exchange since the beginning of 2019 earned a big profit and I couldn't find the reason to fear this exchange. The reality is that CZ is very good at keep community because most of the participants are very loyal about the policies proposed by CZ and the IEO has made Binance very strong. Every day I go to this exchange to see the prices of my favorite altcoin and always choose best coin for medium term investment.

10c

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Don't need to so worry about Binance exchange. New and fastest technology will come and people will turn out from Binance, if could get Binance chain popular.

I also think that after a while people will no longer use Binance services as they used to use Poloniex, and in the future, Binance exchange will not be interesting.

Zidan Bst

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As far as I know Binance is becoming too powerfull because of IEO method.
Then , the developers is looks like approve criticism and suggestion from their community.

RealMalatesta

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Quote from: TheClownSong on June 10, 2019, 12:55:20 AM

Quote from: Dacosta Osei-Tutu on June 09, 2019, 06:30:46 PM

That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

I am agree with you. Binance offering best service to their member and right now become a biggest exchangers in crypto world. I dont think binance becoming scary because when market growing more bigger and volume increase, its good for bitcoin or altcoin price

It is surprising that someone would not see or appreciate the hard work Binance is putting to make their platform very suitable and comfortable for their users. Binance is not powerful because they have any autonomous power, or given the license to run exchange alone, Binance is only powerful because other exchanges have failed to successfully compete with them or meet of to the standard of their users.

The owner of Binance is just an intelligent man who is a deep thinker and problem solver, from his works we could see that he is not after the money alone, but after the reputation and standard of his company.

kriszz50983

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Quote from: DebitMe on June 09, 2019, 04:05:08 PM

Quote from: kriszz50983 on June 09, 2019, 07:03:31 AM

In 2017 Binance tokens was available below 2 USD. And now it's around 30 USD. Very rare cases in the crypto world. I am seeing many others trying to setup exchange but they are nowhere close to Binance.

Few hacking attempt was there, but Binance managed to tackle those.

What do you mean it's very rare in the crypto world to go from $2 to $30? Have you not been in the crypto space for more than a week?

What I mean was in last one and half year hardly any project or coins gave such multifold returns. I know ETH, BTC, LTC and many other coins m but for me Binance was huge.. Almost 15 times.

cunguks

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Quote from: TheClownSong on June 10, 2019, 12:55:20 AM

I am agree with you. Binance offering best service to their member and right now become a biggest exchangers in crypto world. I dont think binance becoming scary because when market growing more bigger and volume increase, its good for bitcoin or altcoin price

the market growth will indeed be in line with the growth in the price of coins on the market. when trade increases and many investments come in, I think the market will experience an increase and demand for assets will increase. it makes the price of coins will also increase.

TheClownSong

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Quote from: Dacosta Osei-Tutu on June 09, 2019, 06:30:46 PM

That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

I am agree with you. Binance offering best service to their member and right now become a biggest exchangers in crypto world. I dont think binance becoming scary because when market growing more bigger and volume increase, its good for bitcoin or altcoin price

Nellayar

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Quote from: mangsitin on June 09, 2019, 07:16:12 PM

Quote from: Dacosta Osei-Tutu on June 09, 2019, 06:30:46 PM

That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

Yes, because they have very large funds, and they are serious about giving extraordinary access to Investors, so many Investors feel comfortable trading there. Because Investors need a market that is comfortable and good in providing its services.

I agree with your reaction. Don't get me wrong OP. But as of now, binance is the largest and most trusted cryptocurrency exchange. In fact, the harmony that made their IEO have already 900% above their ICO price. In terms of liquidity and security, binance is protecting their investors as well as traders. I am comfortable in using binance since I am also a play safe trader.

mangsitin

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Quote from: Dacosta Osei-Tutu on June 09, 2019, 06:30:46 PM

That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

Yes, because they have very large funds, and they are serious about giving extraordinary access to Investors, so many Investors feel comfortable trading there. Because Investors need a market that is comfortable and good in providing its services.

Dacosta Osei-Tutu

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That is what happens when you keep offering the best of services to your community. Don't blame Binance exchange for earning the power to move the crypto space. The community support is there and there is nothing anybody can do to bring Binance down so long as they continue serving their community diligently.

RomanPetrush

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It's not so scary, they gave better service and trading website. So that's why they are on the 1st place right now. But believe me, soon it will end. Will be other platforms for trading.

103deltafox

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This is because they are risk takers. They dare to take risk where others are scared. Binance change crypto entirely when ICO was not productive they brought IEO now many other exchange are adopting it. They have right to influence the market

DebitMe

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Quote from: kriszz50983 on June 09, 2019, 07:03:31 AM

In 2017 Binance tokens was available below 2 USD. And now it's around 30 USD. Very rare cases in the crypto world. I am seeing many others trying to setup exchange but they are nowhere close to Binance.

Few hacking attempt was there, but Binance managed to tackle those.

What do you mean it's very rare in the crypto world to go from $2 to $30? Have you not been in the crypto space for more than a week?

prof7bit

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Quote from: donass1 on June 09, 2019, 09:33:04 AM

While we look at the negatives, we should also look at the positives.. recently Binance was hacked and after the necessary maintainance, all the hacked funds were replaced to user wallets, this consolidated the fact that Binance is a leader in this space and gave it even more power, you are correct though, Binance has become too powerful especially in a space where decentralisation is supposed to be the order of the day.

Even after this event, there was compensation, a discount on trade and a razgrash of 50,000 BNB. I think this is the best exchange at the moment.

donass1

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While we look at the negatives, we should also look at the positives.. recently Binance was hacked and after the necessary maintainance, all the hacked funds were replaced to user wallets, this consolidated the fact that Binance is a leader in this space and gave it even more power, you are correct though, Binance has become too powerful especially in a space where decentralisation is supposed to be the order of the day.

kriszz50983

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In 2017 Binance tokens was available below 2 USD. And now it's around 30 USD. Very rare cases in the crypto world. I am seeing many others trying to setup exchange but they are nowhere close to Binance.

Few hacking attempt was there, but Binance managed to tackle those.

magicrypto

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Binance right now moving crypto industry, at this moment it is appears as main power of crypto hypetrain. About you fears, all i can say is that CZ says that they dont compete another blockchain, Binance chain do not have even smart contracts, Binance trying to compete another exchanges, not blockchains.

dfktynby1004

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Binance were able to raise a sensation around. But this does not prove that they are a strong project. It scares me that Binance can monopolize the entire industry and then cheat everyone. So it was with many exchanges that are trusted. Now there are huge turnover of funds at Binance. What if all these transactions are artificial? No one will tell you about it but you will invest in BNB and hope to get a good profit.

ausbit

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Well, as you can see, that is the reward they get for being too hardworking, other exchanges and projects really lacks strategies to push their projects forward and that is why it will be very difficult for any of them to really compete with Binance.

And you are right, most project success will soon be dependent on Binance if care is not taken to break the monopoly I am already seeing, and all it needs to break this monopoly is for other project or exchanges to just be up and running, they need to come up with strategies that will make their own platform a competitive one too.

hongus

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Well, they really have a major impact on the market. Many believe that they will become monopolists. While in the hands of such a pump, they have the right to dictate terms.

Topic: How Binance Is Becoming Too Powerful (and really scary). - page 3. (Read 951 times)