The crypto market which has as much as 500 million visits per month and where the market is traded in billions, nah I don’t think so it’s gonna ever fail in the coming future. As long as it stays secure enough to protect the funds of their consumer I think they are good to go.
If they get hacked and major assets are stolen then they would worry a little bit. But considering their security systems I barely think they will fail.
Topic: Is Binance too big to fail? - page 4. (Read 1942 times)
The chances of binance failing or going bankrupt are very small because he has great trust by the cryptocurrency community to date. Binance is considered the no.1 market in the world with the best service and quality. I'm sure the whole world knows binance. This makes binance ranked 3rd, not even impossible in the future bnb will be in second place.
nothing is impossible, but when viewed from binance, the project can be said to be successful and continues to grow and has even become the largest centralized exchange in the world.
so the probability of binance failing is very small.
I agree with you. If binance is to fail, then a project better than binance has to come. I am not seeing any such project at the moment. And even if it comes, it will not be possible in the next 5 years.so the probability of binance failing is very small.
you are right about this. It's hard to imagine any new project bigger than Binance. binance has it all, a great exchange, smartcontract platform and a professional team of developers. this made them so strong that it was hard to imagine that they failed.
nothing is impossible, but when viewed from binance, the project can be said to be successful and continues to grow and has even become the largest centralized exchange in the world.
so the probability of binance failing is very small.
I agree with you. If binance is to fail, then a project better than binance has to come. I am not seeing any such project at the moment. And even if it comes, it will not be possible in the next 5 years.so the probability of binance failing is very small.
you are right about this. It's hard to imagine any new project bigger than Binance. binance has it all, a great exchange, smartcontract platform and a professional team of developers. this made them so strong that it was hard to imagine that they failed.
Undoubtedly Binance has really been successful and is also a big company in the crypto space, it's one of the biggest cryptocurrency exchange so far with lots of people finding so much interest in working with the Binance exchange. Actually no company is too big to fail, if there got a little weak point and doesn't work towards it that's where it will start failing from, so i think for a company to remain successful there will keep working to grow their company because there are also lots of competitors.
Binance is a great company no doubt, no institution is too big fail. Failing to me is superlative there are areas where they their services are lacking and they need improvement on those places I can attribute them as "fail" if I so wish. However, there has to be a very competitive opponent to shake Binance off Binance off the radar or better still a heavyweight attack on the exchange to pull them off the level they are currently.
But there is merit to that term too big to fail, no doubt about that. If you reach a certain size and you are systemically relevant, chances are good that government will bail you out if you fuck it up because otherwise all your employees are without jobs. Yes, never say never but we have repeatedly seen in the past that the bigger the institution and the more money and workforce involved, the more likely it is that you will be saved with tax money even though you are to blame.
As for Binance, they are actually really huge. Look at the gap between their trading volume and rank two. It is hard to think of a scenario that that gap will be closed anytime soon as their business model is sound and customers are satisfied. This is not a business where customers quickly change the provider. Liquidity is awesome, service is awesome, product offering is awesome. Binance is in a great spot to say the least and probably for a very long time.
So, when such scenario plays out, the government will definitely find a way to help the entire Binance management to overcome anything likely going to cut their existence off in the shot period of time, Binance is currently like Google of the Search engines to the crypto world. They constantly update their platform with what will likely draw customers away from them easily.
Binance is a great company no doubt, no institution is too big fail. Failing to me is superlative there are areas where they their services are lacking and they need improvement on those places I can attribute them as "fail" if I so wish. However, there has to be a very competitive opponent to shake Binance off Binance off the radar or better still a heavyweight attack on the exchange to pull them off the level they are currently.
But there is merit to that term too big to fail, no doubt about that. If you reach a certain size and you are systemically relevant, chances are good that government will bail you out if you fuck it up because otherwise all your employees are without jobs. Yes, never say never but we have repeatedly seen in the past that the bigger the institution and the more money and workforce involved, the more likely it is that you will be saved with tax money even though you are to blame.
As for Binance, they are actually really huge. Look at the gap between their trading volume and rank two. It is hard to think of a scenario that that gap will be closed anytime soon as their business model is sound and customers are satisfied. This is not a business where customers quickly change the provider. Liquidity is awesome, service is awesome, product offering is awesome. Binance is in a great spot to say the least and probably for a very long time.
Binance is a great company no doubt, no institution is too big fail. Failing to me is superlative there are areas where they their services are lacking and they need improvement on those places I can attribute them as "fail" if I so wish. However, there has to be a very competitive opponent to shake Binance off Binance off the radar or better still a heavyweight attack on the exchange to pull them off the level they are currently.
The Binance platform is a famous exchange with a great reputation and is one of the first giant exchange platforms in crypto, and it is very difficult to fail because it has senior developers and security experts running this platform, This platform has achieved huge success and there are millions of traders on it and there are +300 coins listed on Binance, This is really the first choice for any successful project.
If you go back there were many other giant exchanges in terms of the volume of Bitcoin that went through on a daily basis and with time these popularity keeps changing from time to time and sometimes a major hack would turn the tables against the popularity and sometimes their technical inadequacy to handle heavy loads and the time it took to sort the issues worked against them. When you talk about Binance, they already had a major hack and they are literally purchasing or replicating everything that is available in the cryptocurrency market space and only time will tell how long they will be functioning without any major issue.
This is a company worth in tens of billions of dollars, probably hundreds of billions of dollars it were to go public in USA, coinbase is not even half of that and worths so much. Do you really think that a company that big would fail via a hacking? I really do not think that is possible and which is why I believe they are not too big to fail but they are too big to care for their security more than anyone else ever did in history.
Probably yes, if Binance would go down it would take all the tokens on its blockchain with it right?
What's for we are expecting Binance to fall? I am personally one of the fans of Binance, using the platform for daily trade and other activities. And I do think that their power is great enough in the crypto world, the team also creates many big changes on crypto, provide more and more concepts, features, and also other platforms. We know that sometimes, Binance also supports other platforms to be under their management. And so far, it really works.
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail
Most people have the same opinion as you. One of the most important reasons why this year's bull has lasted so long was Binance and the opportunities it offers. Even people who are not related to cryptocurrencies made good money thanks to binance and supported new investors.
I hope these successes continue and we can invest without any problems. But all good things end one day, we should not forget that too
nothing is impossible, but when viewed from binance, the project can be said to be successful and continues to grow and has even become the largest centralized exchange in the world.
so the probability of binance failing is very small.
so the probability of binance failing is very small.
The Binance platform is a famous exchange with a great reputation and is one of the first giant exchange platforms in crypto, and it is very difficult to fail because it has senior developers and security experts running this platform, This platform has achieved huge success and there are millions of traders on it and there are +300 coins listed on Binance, This is really the first choice for any successful project.
If you go back there were many other giant exchanges in terms of the volume of Bitcoin that went through on a daily basis and with time these popularity keeps changing from time to time and sometimes a major hack would turn the tables against the popularity and sometimes their technical inadequacy to handle heavy loads and the time it took to sort the issues worked against them. When you talk about Binance, they already had a major hack and they are literally purchasing or replicating everything that is available in the cryptocurrency market space and only time will tell how long they will be functioning without any major issue.
What's for we are expecting Binance to fall? I am personally one of the fans of Binance, using the platform for daily trade and other activities. And I do think that their power is great enough in the crypto world, the team also creates many big changes on crypto, provide more and more concepts, features, and also other platforms. We know that sometimes, Binance also supports other platforms to be under their management. And so far, it really works.
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail
I think the purpose of this topic is to assume possible scenario which lead to Binance fail, also to warn us if theres a possibility of it.
For me, Binance is still a best option to do trade, Bitfinex is my second. But like people said, never save your money on wallet that you didnt have the key on it.
Binance is absolutely one of the biggest exchanges right now. But it is not an impediment for it to fail at some point. Every company etc. has a chance to fail. Maybe it seems really low for Binance but there is a chance of course.
indeed everyone has a chance to fail even bitcoin, but considering the current situation, binance is the largest exchange at the moment, he just needs to keep every transaction smooth, and make some innovations to attract investors, the more binance holders, the smaller also the possibility to fail
What's for we are expecting Binance to fall? I am personally one of the fans of Binance, using the platform for daily trade and other activities. And I do think that their power is great enough in the crypto world, the team also creates many big changes on crypto, provide more and more concepts, features, and also other platforms. We know that sometimes, Binance also supports other platforms to be under their management. And so far, it really works.
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail
With this high transaction and also other things on Binance, I also beleive that it is too hard to fail
I understand your concern, that this could be a bad thing for the crypto market in the future because if Binance has a fate like MTGox or other major exchanges that also eventually collapse then there will be panic in the crypto market. That is why we have to understand the huge risk in crypto. Currently, Binance is very powerful and their presence everywhere continues to influence the crypto space and no one can deny this, but as long as they do the right things we can trust to still transact there, with our own risk.
I totally agree, if that will happen it's really a bad thing since Binance such too big to fail like how other market also collapses. When you invest in crypto currency world even how big it is, theres a possibility that it will fail in the future, but hopefully not. Binance is very powerful to fail, they influences everything in crypto world. If that will happened, I guess everyone will going to be panic, but still we must need to understand, learn to wait if that really happened and also expect the unexpected to avoid disappointments. As long as we did our best and the right things, we can always trust them to transact or invest with our own risk.
The Binance platform is a famous exchange with a great reputation and is one of the first giant exchange platforms in crypto, and it is very difficult to fail because it has senior developers and security experts running this platform, This platform has achieved huge success and there are millions of traders on it and there are +300 coins listed on Binance, This is really the first choice for any successful project.
Provided that complaints are very infinite decimal in number. If customer are having difficult to time to access their money or wrong been executed especially during crash and dump, they may get sued.
There is a petition that's currently going about Binance stop some users trade during market crash in month of May especially the future traders.
They need to account for such mistakes and compensate users for their loss.
There is a petition that's currently going about Binance stop some users trade during market crash in month of May especially the future traders.
They need to account for such mistakes and compensate users for their loss.
People believe its not and have possibility theres too many fake transaction to increase the daily volume transactions. Market are full of manipulation and fake things, so the data is not really accurate bro.
But given that fact Binance continue to take the first spot and still have many supporters and end users, the dominance still
on it and for now, this business are continuing to estabslish the long term progress, too big to break and fail as for my personal opinion.
Yeah, but if Binance have any law problem regarding any market manipulation or fake transaction. I think US can shutdown Binance, however its just a very worst case.
They wont really be making such mistake because if we do consider on how big already Binance is then they wont really be letting the business go down just because of those scenario. There might be some issues but that would be only small and can be resolved or be handled and considering on how big it is on today compared into those previous years then we can really see that they did really succeed into this industry and they do really know on how to handle and run a business but somehow nothing do last forever but basing on the performance and things that they've been doing then for sure they will stay for a while.
Jump to: