Topic: Is Binance too big to fail? - page 10. (Read 1930 times)
Binance is big but there is no one entity in this world is too big to failed. There are still possibilities binance will fail. But if binance failed i can not imagine how the matket willcrash, it will hurt whole crypto currencies market. Thats why we need to make another binance so there is no one big player and the impact to market is not big if something wrong happen.
Binance is one of the strongest exchanges and maybe even the best now I think. But I can't say that it is invincible of course. There is always a possibility for failing also but it is a very low chance when it comes to the biggest exchanges in the industry.
The chance of failure on Binance is very small compared to the large trading volume that is centered on it, the number of trades currently running on Binance has surpassed Ethereum, meaning there are so many people who are actively trading in the Binance market, this is a positive point that supports Binance to keep growing and minimizes the likelihood of failure.
Everything in the crypto market does have the possibility of failure but if you say binance will fail, it sounds more like a joke, I agree with you, Binance has now grown into one of the most popular altcoins even binance trading activities are able to surpass ETH for At this point in time, this fact is enough for me to dismiss the notion that Binance will fail.
The chance of failure on Binance is very small compared to the large trading volume that is centered on it, the number of trades currently running on Binance has surpassed Ethereum, meaning there are so many people who are actively trading in the Binance market, this is a positive point that supports Binance to keep growing and minimizes the likelihood of failure.
Until now, I only used the binance exchange. But I did some research and I heard that the binance exchange sometimes breaks down with large purchases and sales. A similar situation happened in the crash on May 19. This is why the binance is slowly losing power.
Not only binance that gets high blockchain traffic, but there is also some other big exchange that experiences it like WazirX, Coinbase, and other crypto exchange. I don't think they can prevent it, but it's sucks when you lose money because of the outage of the exchange site. I've been using Binance since 2017 and haven't got any problem yet. For me, It is still the best crypto exchange right now.
I don't think Binance is something too big to fail. To name an exchange can replace Binance, I believe it's FTX. Sam Bankman-Fried - the founder of FTX is following CZ's path by creating his own universe: FTT token, Solana blockchain, DEX, lending platforms... But considering what CZ's doing, I don't think he will fail. He's a wise man, has good vision and he sees things from investors' stand point.
Until now, I only used the binance exchange. But I did some research and I heard that the binance exchange sometimes breaks down with large purchases and sales. A similar situation happened in the crash on May 19. This is why the binance is slowly losing power.
Every exchanges have experience such downtime, and I’m telling you no exchange so far that can compete on what Binance did, they simply great as of the moment but still its vulnerable to such problems. I love Binance on how they handle Hacking incidents and because of their SAFU program, their reputation is still intact. Binance is great but far from being perfect, we can expect a pump and dump as well on their platform, but the good thing is they handle every problem very well. 
What are your thoughts? Is Binance too big to fail? If not, why? Do you think Binance has too much power/influence over the crypto/Blockchain industry? How will it affect crypto (either positively or negatively) in the long term? Your input will be greatly appreciated. Thanks in advance. 
There are no "too big" to fail because if the time comes for Binance to fail, it will go down and will fail to be the bigger exchange. Binance gets support from the trader who still uses it for the exchange and traded so many coins on that exchange. But if there is a new or old exchange that can do better than Binance, maybe slowly Binance will lose its reputations and their member will move their funds from Binance to the other exchanges.I think you remember the time before Binance become bigger, many traders use Poloniex and Bittrex to trade. The problem that makes traders moves their funds from Binance is about KYC verification in Poloniex and Bittrex, and that makes big transfer funds from those exchange, Poloniex and Bittrex, to Binance.
Maybe those cycle will repeat by themselves in the future, but now, Binance still is the top exchanges that many traders still use.
Until now, I only used the binance exchange. But I did some research and I heard that the binance exchange sometimes breaks down with large purchases and sales. A similar situation happened in the crash on May 19. This is why the binance is slowly losing power.
they can fall but its not easy because they are big . we have exchange before that got rekt but i guess its because they are not trying their best to come up with a
something new like binance are doing .
binance identify the problem in crypto and make a solution .
binance is just an exchange and even if they are centralized , they cannot turn decentralize crypto as centralized and theres still many decentralize exchange out there that is functional . no worries .
something new like binance are doing .
binance identify the problem in crypto and make a solution .
binance is just an exchange and even if they are centralized , they cannot turn decentralize crypto as centralized and theres still many decentralize exchange out there that is functional . no worries .
Binance is striving because it has been improvising. If you cannot improvising or adapt in this sector then you will fail. I do not think it will fail in the future because it has a leader who has been taking a calculative risk. I agree that it is centralized but at the same time, it is transparent too. DEX like uniswap has now become its biggest competitor and only the future will tell what it does next?
There is always saying:"decline right after flourish". This also exists in the crypto market, for example, K line does also exist as a parabola. Anyway, if Binance have already reached its peak, then it will fall naturally, it is just a simple phenomenon.
I do try to think exactly how the fall will happen. I mean you mentioned that it will fall naturally, which for me means it will die a natural death not caused by anything like humans for example. All I can think of when it comes to natural death is the loss of a customer base. When there's less and less people coming to the exchange then there are no fees to earn thus no profits that would help maintain the website. In the long run either they buy other exchanges and integrate theirs to them, or perhaps do other things that would ensure the survival of their exchange.
Binance is striving because it has been improvising. If you cannot improvising or adapt in this sector then you will fail. I do not think it will fail in the future because it has a leader who has been taking a calculative risk. I agree that it is centralized but at the same time, it is transparent too. DEX like uniswap has now become its biggest competitor and only the future will tell what it does next?
There is always saying:"decline right after flourish". This also exists in the crypto market, for example, K line does also exist as a parabola. Anyway, if Binance have already reached its peak, then it will fall naturally, it is just a simple phenomenon.
Every big crypto exchange is too big to fail. Closing will create enormous amount of fud
I agree there will be disruption if an exchange as big as Binance fail, the majority of investors and traders have an account here the market could suffer a dip, but Binance is not too big to fail if they will not follow the regulators and there are too many complaints, there's a possibility that they will fail and that will be an opportunity for other exchanges to take over.
Binance is striving because it has been improvising. If you cannot improvising or adapt in this sector then you will fail. I do not think it will fail in the future because it has a leader who has been taking a calculative risk. I agree that it is centralized but at the same time, it is transparent too. DEX like uniswap has now become its biggest competitor and only the future will tell what it does next?
Binance has made itself an icon in the cryptocurrency industry with her impact in virtually every sector of the industry. The truth is that it would be difficult for binance to fail. Not too long ago, we heard of the hack of the exchange which lead to the loss of thousands of Bitcoin. Issues like this has crippled a huge number of exchange, but binance is still standing stronger than ever.
As an exchange, Binance is obviously very strong when compared to the others, but in terms of cryptocurrency, they should also care more about Bitcoin, because everyone can see that at this point in time when Bitcoin is in decline, Binance tokens are also experiencing the same thing, so they must tend to care about Bitcoin so that their popularity can increase even more in the cryptocurrency sector. This post sound awkward to me, why are you interested to see binance fail, if anything the crypto community should be supportive to help all this exchange be a better place to trade, nothing is too big to fail but sincerely hope nothing like that will happen to binance, you may not know it but the millions of people from all over the world that binance can access will be gravelly affected, I hope this won't happen.
I thought so of that too, why the OP is wondering about the failure of an exchange. I mean there's Mt. Gox for one but that is a whole different story. Binance might have a very good security that would prevent the site being hacked so there's that. Now the only thing that the OP is suggesting, albeit discreetly is the possibility that the Binance exchange might be a possible Bitconnect scam all over again. Wait for it to go big, then there would be a hacking incident where all coins were stolen. I don't know, that is how I feel it.
the development of binance looks quite fast. but it's all because of the performance of their own developers who continue to innovate seeing the potential trends that are being needed by the market.
like IEO and BSC, they exist as a solution to what the market is expecting. of course with high community support that makes Binance continues to be very popular even as it dominates the development of the blockchain and crypto market.
it may hurt the crypto market and the development of blockchain in the future when dominance continues to be held by one platform. but for now, we're enjoying it all and I think everyone is realizing the dominance that binance is doing.
like IEO and BSC, they exist as a solution to what the market is expecting. of course with high community support that makes Binance continues to be very popular even as it dominates the development of the blockchain and crypto market.
it may hurt the crypto market and the development of blockchain in the future when dominance continues to be held by one platform. but for now, we're enjoying it all and I think everyone is realizing the dominance that binance is doing.
What are your thoughts? Is Binance too big to fail? If not, why? Do you think Binance has too much power/influence over the crypto/Blockchain industry? How will it affect crypto (either positively or negatively) in the long term? Your input will be greatly appreciated. Thanks in advance.
I don't think that Binance has become too powerful/influence in the market.
Yes, they are big, but just like the rest, they are just one part of the big equation, it is just a ripple in the big sea. And if they fall, I don't think that we will be affected drastically, there are still a lot of exchanges out there that can take what they have left. There are rumors that they are under heavy scrutiny in the US side, so worse is, they may have to tighten their binance.us and face US regulations.
No company is too big not to fail, they are under government regulation and traders are trusting them because they are giving them something worthwhile more than the other exchanges can give, there's a possibility that a new exchange will come that is much better than Binance, so far they are beating the competition, but competitors will soon catch up, the industry is a multi billion-dollar industry and every exchange are trying to improve.
Binance has grown into a force to reckon with since its establishment in 2017. In just 4 years since inception, Binance dominates the crypto market being the largest cryptocurrency exchange in the world. Its most successful venture has been the launch of a public smart contract platform dubbed "Binance Smart Chain". The native cryptocurrency "BNB" went from being worth cents to hundreds of dollars (USD) in just a few years since inception.
Binance has a smart brain behind it, Changpeng Zao. They joined the cryptocurrency marketplace when big exchanges have troubles with the boom of crypto market and huge new crypto users. Those old and reputable exchanges like Poloniex and Bittrex got troubles to scale up their servers and KYC implementation. Binance took it and grew up in a few months.But as you noted, Binance is creative and they are the first exchange to launch their own token (BNB) and they created more creative promotions with BNB. Binance Smart Chain is the first chain owns by one exchange.
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What are your thoughts? Is Binance too big to fail? If not, why?
They will not fail but it is not because they are too big. It is because they are creative and like a smart time traveller. Other exchanges follow what Binance did so they can not beat Binance.They will not fall down if the cryptocurrency marketplace won't have other creative exchanges.
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