Let's not be too judgemental about CZ (Binance)

EarnOnVictor

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Quote from: doomloop on March 29, 2023, 06:28:45 AM

It also doesn't mean that the story is real, I mean we can clearly see that there are a lot of FUDs and attacks happening on Binance lately, and there's no surprise after the crash of FTX, Binance was probably the next target, now we can't really be sure if who is the one targeting it, whether it's FTX behind the scenes, the large authorities or someone unknown.

We can't really be sure if all these stories are true and aren't simply a part of a master plan to take Binance down. I don't think that it can be a coincidence that every couple of days, new bad news comes out about Binance.

I'm with you on this, Binance has created more enemies for itself by the moves it made against FTX and other exchanges. I will not blame anyone working against it under the shadow, and this might not be FTX entirely but might be the rival companies that want the fall of Binance. As much as we must stay neutral in their cold war. Binance itself is not exonerated from many gimmicks and shady dealings. So, I don't trust the company, CZ only understands the business better which keeps it running.

Quote from: stompix on March 31, 2023, 01:01:30 AM

Quote from: bbc.reporter on March 29, 2023, 08:12:45 PM

We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

Concerned, and exactly now?
Why would they be concerned when for years I've only heard how the government is fighting crypto is sabotaging it and here we are, with BTC still standing and nothing really harmful happening to it?
Might be that CEX =/= crypto =/= BTC or that just all that drama was as fake as this one?

SEC taking down piece of garbage that has done a lot of harm to BTC, that has brainwashed thousands, that has taken a piss on the whole, not your keys not your fund slogan, that is actually laying every damn second can't be seen as a war against crypto but against some as I said it before, pieces of garbage!

When Binance is charging you extra for segwit and has no plans on ever accepting LN just as Coingbase, when they are both CEX which from the start should be avoided, then why should "all" the industry be concerned?

Quote from: bbc.reporter on March 29, 2023, 08:12:45 PM

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

FTX only become a known scam when it crashed down.
Just because Binance is up and running just like FTX last year doesn't mean it has all your funds #SAFU!

I will always be neutral here, and frankly, CZ has cases to answer too, only that it might not be as grievous and endangering as that of SBF. A lot is going on with Binance, especially the global branch which is as good as underregulated. The US's CFTC dealing with the Binance (US) is an example of it. If they could do what they are alleged under the jurisdiction of the world's most powerful regulator, how much more they will be doing under the underregulated global branch?

stompix

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Quote from: bbc.reporter on March 29, 2023, 08:12:45 PM

We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

Concerned, and exactly now?
Why would they be concerned when for years I've only heard how the government is fighting crypto is sabotaging it and here we are, with BTC still standing and nothing really harmful happening to it?
Might be that CEX =/= crypto =/= BTC or that just all that drama was as fake as this one?

SEC taking down piece of garbage that has done a lot of harm to BTC, that has brainwashed thousands, that has taken a piss on the whole, not your keys not your fund slogan, that is actually laying every damn second can't be seen as a war against crypto but against some as I said it before, pieces of garbage!

When Binance is charging you extra for segwit and has no plans on ever accepting LN just as Coingbase, when they are both CEX which from the start should be avoided, then why should "all" the industry be concerned?

Quote from: bbc.reporter on March 29, 2023, 08:12:45 PM

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

FTX only become a known scam when it crashed down.
Just because Binance is up and running just like FTX last year doesn't mean it has all your funds #SAFU!

Darker45

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Quote from: bbc.reporter on March 30, 2023, 09:15:08 PM

@Darker45. I cannot argue against you, however, I am only telling everyone that the cryptospace as an industry is being threatened. The government with their different agencies will not stop until it is gone or under their control. Mainstream adoption, ETFs and our other wishes for bitcoin will be shattered in front of everyone.

We might be making a mistake with this attitude of wishing that CZ and Binance should be seized by the government. Whatever the American government accuses what illegal things Binance is doing, they are also being done by banks.

CoinDesk Editorial: It Sure Looks Like the U.S. Is Trying to Kill Crypto

The federal government’s recent actions against crypto are – rightly or wrongly – widely perceived as a coordinated attempt to maim digital assets.

Source https://www.coindesk.com/consensus-magazine/2023/03/30/coindesk-editorial-it-sure-looks-like-the-us-is-trying-to-kill-crypto/

These attacks aren't new as they aren't shocking. As far as the attacks on the larger crypto space is concerned, they may achieve a limited success. They may win their lawsuit against the likes of Kraken and Binance. As a result, they may effectively shut them down just like what they did to Beaxy just yesterday or they may cripple them and earn from the fines. But what have they accomplished really? Nothing.

The attack on the larger crypto space isn't necessarily an attack on Bitcoin itself, upon which the entire crypto space is supposed to be founded. Try as they may in bringing Bitcoin down in all these efforts, what they will achieve is nothing. They will only bring down centralized crypto entities which aren't really representative of what Bitcoin is trying to achieve.

Also, as far as I notice, these efforts are not even bearing fruits as far as development in the space is concerned. When they shut down Chipmixer, how many new mixers came out? If they will be successful in bringing down Binance, how many centralized exchanges will be coming out competing for what Binance has left?

bbc.reporter

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@Darker45. I cannot argue against you, however, I am only telling everyone that the cryptospace as an industry is being threatened. The government with their different agencies will not stop until it is gone or under their control. Mainstream adoption, ETFs and our other wishes for bitcoin will be shattered in front of everyone.

We might be making a mistake with this attitude of wishing that CZ and Binance should be seized by the government. Whatever the American government accuses what illegal things Binance is doing, they are also being done by banks.

CoinDesk Editorial: It Sure Looks Like the U.S. Is Trying to Kill Crypto

The federal government’s recent actions against crypto are – rightly or wrongly – widely perceived as a coordinated attempt to maim digital assets.

Source https://www.coindesk.com/consensus-magazine/2023/03/30/coindesk-editorial-it-sure-looks-like-the-us-is-trying-to-kill-crypto/

Darker45

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Quote from: bbc.reporter on March 28, 2023, 10:26:48 PM

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

But the reality is that this isn't just between the government regulators and Binance. We shouldn't be reducing it between the two as if there isn't another option lying around. You are not actually limited to these two players only.

I know you're posing a hypothetical scenario, but the reality is different. Why shouldn't we stick to what's real? Why should we be choosing Binance when the options on the ground isn't just between government and a centralized company?

Quote

I reckon everyone should begin to recognize that the coordinated attacks on Binance, Coinbase, Chipmixer, Tornado Cash and other services is really an attack on the whole cryptospace. This is not only about Binance or Chipmixer anymore.

This may be true, and I kind of understand your point, but I'm afraid this is the same sentiment that will make rise to the very system Bitcoin is designed to oppose for as long as it is carrying the Bitcoin flag.

It seems like you're saying that the enemy of your enemy is your friend. But centralization is never a friend of Bitcoin. To a significant extent, we can say that Binance is not a friend even if the government is its enemy.

bbc.reporter

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Quote from: stompix on March 29, 2023, 02:25:29 AM

Quote from: bbc.reporter on March 28, 2023, 10:26:48 PM

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

You never learn, don't you?
Rember the FTX will be number 1 and invest in FTT stuff?
Or this one?

Quote from: ?? on ??

~

Sam Bankman-Fried's FTX and market maker, venture cryptofund Alameda Research are presently the most liquid companies in the cryptospace.

Stop making idols of these guys, stop seeing them as gods or whatever, they are just some wanna-be Madoffs, but none of them (hopefully) will be able to deceive people as long as that piece of garbage did.

They are not fighting against the government for our sake, they are doing so for their pockets, once it's more profitable to bow down to the authorities they will dump us in a second or throw us at the first that asks for our data and funds like in a pretzel sale. CZ is the guy that wanted to reorganize the blockchain for god's sake, he never gave a second thought, he never cared what others might suffer from it, it was all about his money.

Besides, the whole thing is even funnier, you choose to side with him against the government regulations when in his defense he brags about how many users he has blocked, how many KYC he has refused, how many transactions he has frozen, and how much money he has seized when ask by regulators? Common bruh!

In this thread, I am not talking about idols or the characters behind the cryptospace. That is a discussion for another day. What I am talking about is there is something happening and it might not be a Binance matter or a Coinbase matter anymore. We know these lastest coordinated attacks should certainly concern the whole cryptospace industry.

On the argument about Sam and FTX, I have already admitted my mistake. FTX was a scam from the beginning. However, on the argument about CZ and Binance, he might have evaded some laws and regulations but did he create Binance to scam the community? Mainstream news media appear to be campaigning for this.

doomloop

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Quote from: royalfestus on March 27, 2023, 11:51:53 AM

Quote from: Edwardard on March 27, 2023, 10:34:45 AM

Yep, this news is circulating everywhere on telegram right now. Im getting spammed. Well, I dont clearly get the meaning of "sued" here. Does this mean cz going to jail or something ? I hope not.

Cz just tweeted "4" 15mins ago. Another mystery. My heads gonna burst lol.
Edit:
Well 4 means this I guess

FUD does not mean that the story is not real. It is merely panic-induced behavior by investors and traders. I had many news like this at the beginning of the market that went nowhere, later it looked like a strategy to dump and some whales accumulated at cheap prices. So much of it is now going through the same regulatory agencies in the United States, like the Securities and Exchange Commission. The US government has benefited from the space so much.

It also doesn't mean that the story is real, I mean we can clearly see that there are a lot of FUDs and attacks happening on Binance lately, and there's no surprise after the crash of FTX, Binance was probably the next target, now we can't really be sure if who is the one targeting it, whether it's FTX behind the scenes, the large authorities or someone unknown.

We can't really be sure if all these stories are true and aren't simply a part of a master plan to take Binance down. I don't think that it can be a coincidence that every couple of days, new bad news comes out about Binance.

Z-tight

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Quote from: bbc.reporter on March 28, 2023, 10:26:48 PM

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

People who would be mostly worried and forced to pick a side between either of them are those who trade, buy and use shitcoins. If you use only BTC, and do not speculate on shitcoins in Binance platform, you would not have to choose a side. BTC does not lose whatever happens, if the regulators force Binance out of business, people can still buy and sell BTC and learn to hold it in self custody wallets. If Binance manages to bribe their way out of it and continue their operation smoothly, deceiving people they care about BTC, their monopoly would continue, and many people would be deceived, which even looks like the worse of the two option, but nevertheless, BTC would still function as normal.

Quote from: bbc.reporter on March 28, 2023, 10:26:48 PM

I reckon everyone should begin to recognize that the coordinated attacks on Binance, Coinbase, Chipmixer, Tornado Cash and other services is really an attack on the whole cryptospace. This is not only about Binance or Chipmixer anymore.

These are centralized exchanges, mixers or tumblers, the government can regulate centralized exchanges, and they can go after mixers and tumblers, even if they operate anonymously, the government can go after those who run the mixer if there is sufficient proof that a lot of illegal money is being mixed there. But how do the government come after BTC, there is no website to seize, neither can they target every miner or user worldwide, they can only regulate those who keep their BTC in a centralized exchange, intead of in their self custody wallet.

rat03gopoh

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Quote from: bbc.reporter on March 28, 2023, 10:26:48 PM

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

In the crypto space we arn't encouraged to trust anyone. Those who are at odds are fighting for their own interests, rarely based on the truth. In this business space, anyone can hide the facts as much as possible and derail it. They would only start feuding when it was no longer mutually beneficial.

But I agree that "don't be too judgmental on either side". If you aren't involved, just comment as needed as if you were watching a show. Cool

stompix

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Quote from: bbc.reporter on March 28, 2023, 10:26:48 PM

I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

You never learn, don't you?
Rember the FTX will be number 1 and invest in FTT stuff?
Or this one?

Quote from: ?? on ??

~

Sam Bankman-Fried's FTX and market maker, venture cryptofund Alameda Research are presently the most liquid companies in the cryptospace.

Stop making idols of these guys, stop seeing them as gods or whatever, they are just some wanna-be Madoffs, but none of them (hopefully) will be able to deceive people as long as that piece of garbage did.

They are not fighting against the government for our sake, they are doing so for their pockets, once it's more profitable to bow down to the authorities they will dump us in a second or throw us at the first that asks for our data and funds like in a pretzel sale. CZ is the guy that wanted to reorganize the blockchain for god's sake, he never gave a second thought, he never cared what others might suffer from it, it was all about his money.

Besides, the whole thing is even funnier, you choose to side with him against the government regulations when in his defense he brags about how many users he has blocked, how many KYC he has refused, how many transactions he has frozen, and how much money he has seized when ask by regulators? Common bruh!

bbc.reporter

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I very much agree with the reason why this thread was created because if I am forced to choose a side between the government regulators and Binance, I will choose Binance.

I reckon everyone should begin to recognize that the coordinated attacks on Binance, Coinbase, Chipmixer, Tornado Cash and other services is really an attack on the whole cryptospace. This is not only about Binance or Chipmixer anymore.

coupable

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Quote from: dimonstration on March 27, 2023, 12:16:11 PM

Quote from: royalfestus on March 27, 2023, 11:51:53 AM

FUD does not mean that the story is not real. It is merely panic-induced behavior by investors and traders. I had many news like this at the beginning of the market that went nowhere, later it looked like a strategy to dump and some whales accumulated at cheap prices. So much of it is now going through the same regulatory agencies in the United States, like the Securities and Exchange Commission. The US government has benefited from the space so much.

In this case, It’s not FUD but rather an attack to Binance credibility for a potential bringing down this crypto exchange behemoth. Actually I don’t like this “4” strategy of CZ because it encouraged all crypto traders to become a blind believer and remove the curiosity to seek the truth behind the current situation.

There is no doubt that Binance provides great services as well as reliability. But this does not mean that she is completely honest and that she is above suspicion. What is happening now cannot be considered an attack on the platform's credibility, since it was issued by an official body and not just press investigations.
CZ succeeded in monopolizing trading services without being monitored or followed. This may be the biggest problem he faces, but I think he will be able to overcome it.

royalfestus

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Our current trading environment is similar to 2019. While the news and target may not be the same, they have a similar impact on the market, which I believe is the goal
2019: - Cut rates three times by October - Started expanding the balance sheet in September. As a result of the 83% decline from the ATH and 500 days before the half-doubling in 2020, the price bottoms out

dimonstration

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Dimon69

Quote from: royalfestus on March 27, 2023, 11:51:53 AM

FUD does not mean that the story is not real. It is merely panic-induced behavior by investors and traders. I had many news like this at the beginning of the market that went nowhere, later it looked like a strategy to dump and some whales accumulated at cheap prices. So much of it is now going through the same regulatory agencies in the United States, like the Securities and Exchange Commission. The US government has benefited from the space so much.

In this case, It’s not FUD but rather an attack to Binance credibility for a potential bringing down this crypto exchange behemoth. Actually I don’t like this “4” strategy of CZ because it encouraged all crypto traders to become a blind believer and remove the curiosity to seek the truth behind the current situation.

The best example here is when the CFTC case has basis and can give a huge implication on Binance operation. Since blind folllower is just using this strategy to fully trust CZ, There’s a chance that their funds will be trap on exchange when shit happened. I never trust anyone in crypto space because we are all here with self interest.

royalfestus

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Quote from: Edwardard on March 27, 2023, 10:34:45 AM

Yep, this news is circulating everywhere on telegram right now. Im getting spammed. Well, I dont clearly get the meaning of "sued" here. Does this mean cz going to jail or something ? I hope not.

Cz just tweeted "4" 15mins ago. Another mystery. My heads gonna burst lol.
Edit:
Well 4 means this I guess

FUD does not mean that the story is not real. It is merely panic-induced behavior by investors and traders. I had many news like this at the beginning of the market that went nowhere, later it looked like a strategy to dump and some whales accumulated at cheap prices. So much of it is now going through the same regulatory agencies in the United States, like the Securities and Exchange Commission. The US government has benefited from the space so much.

Edwardard

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Quote from: royalfestus on March 27, 2023, 10:19:29 AM

There is a breaking story about Binance and its founder CZ being sued by the CFTC for regulatory violations. The incensant pursuit of cryptocurrency personal is disturbing, and it is unclear what the USA's plans are for the market.

Yep, this news is circulating everywhere on telegram right now. Im getting spammed. Well, I dont clearly get the meaning of "sued" here. Does this mean cz going to jail or something ? I hope not.

Cz just tweeted "4" 15mins ago. Another mystery. My heads gonna burst lol.
Edit:
Well 4 means this I guess

royalfestus

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There is a breaking story about Binance and its founder CZ being sued by the CFTC for regulatory violations. The incensant pursuit of cryptocurrency personal is disturbing, and it is unclear what the USA's plans are for the market.

royalfestus

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In the space, rumour can be used as FUD, so recipients may never discover the truth. CZ binance was widely criticized after the FTX dump and for how he protected BUSD via social media. The fact that USDC was removed from the exchange, as well as Coinbase and other US cryptocurrency firms not hiding their hate, particularly those affliated with Bankman, is disappointing and fierce. Contrary to the rumour, USDC reserves have increased, while the BUSD balance has remained almost constant.

Rikafip

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Quote from: KingsDen on March 12, 2023, 05:50:31 AM

Well, I don't know the story behind CZ attempt to reverse hacked btc.

He didn't attempt it, he suggested it back in 2019 after Binance got hacked and 7000 BTC stolen.

Quote from: KingsDen on March 12, 2023, 05:50:31 AM

We believe btc transactions are irreversible hence included in the block. Then if CZ can reverse it when it was confirmed that it was stollen through an unethical hack. I do not see a big problems in that.

So you don't see anything bad with one of the most powerful people in crypto wanting to reverse bitcoin transactions just because his exchange got hacked? So instead increasing security of his exchange and telling people not to use Binance to store their crypto, he suggested something that would negatively affect Bitcoin. Luckily, Bitcoin is not like his highly centralized BSC shitchain.

Quote from: Rikafip on March 12, 2023, 03:48:45 AM

The more credit of Luna collapse, FTX bankruptcy etc is given to CZ, the more powerful he becomes to even ruin the biggest bank in US.

I don't think that CZ/Binance caused either of those first two things, and he certainly has no strength to go after banks in US. In the end, what's currently happening doesn't benefit him at all.

KingsDen

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Goodnight, o_e_l_e_o 🌹

Quote from: Rikafip on March 12, 2023, 03:48:45 AM

Quote from: royalfestus on March 12, 2023, 03:37:05 AM

It is sad to see the news about CZ Binance in the media because I love him so much.

Lol. In what way he improved or affected your life that you had such a strong feelings for him? If he was such a good guy he would do so many things different way, including his highly centralized and manipulated BSC. I mean, that guy even wanted to reverse bitcoin transactions after they got hacked/

It is right that people can love people naturally even when they do bad. That is the pure definition of love. I don't mean that CZ is bad but I have seen some clear attempts by him to monopolise the cryptocurrency market, which indeed will not be good for everyone of us.
Well, I don't know the story behind CZ attempt to reverse hacked btc. We believe btc transactions are irreversible hence included in the block. Then if CZ can reverse it when it was confirmed that it was stollen through an unethical hack. I do not see a big problems in that.

Quote from: Rikafip on March 12, 2023, 03:48:45 AM

Quote from: royalfestus on March 12, 2023, 03:37:05 AM

Several rumors are circulating about CZ Binance involvement in the USDC fiasco to promote B USD.

I haven't heard those rumors, but I honestly doubt that CZ has such influence that he can ruin one of the bigger banks in the United States. On top if, I don't think it would even beneficial for him to see USDC fail.

The more credit of Luna collapse, FTX bankruptcy etc is given to CZ, the more powerful he becomes to even ruin the biggest bank in US.

Topic: Let's not be too judgemental about CZ (Binance) (Read 480 times)