Topic: Let's not be too judgemental about CZ (Binance) - page 3. (Read 502 times)

You mean, the guy who at one point thought of a Bitcoin Reorg after his exchange had 7,000 Bitcoin hack?

The guy who endlessly keeps shilling his centralized BNB Beacon chain and BSC while at the same time create fake "Bitcoins" on the shitcoin chains for noobs to ignorantly withdraw because the withdrawal fees are lowered compared to the Real Bitcoin?

How do you even continue trusting such a guy, even after the FTX saga?
There are some people here who could defend FTX and SBF with their hearts if you said anything critical about him not so long ago. I see you are still probably so blind with the case of CZ until hell breaks loose some day.

Obviously for them to thrive, they have to be selfish, predatory and greedy. Don't tell me you don't know this.

People should be smart enough not to trust anyone with their funds. Not even CZ. it's the whole point of Bitcoin.

1. You cannot really tell people what to think, OK? So that title is.. not the best choice.
2. I think that CZ was not aware of how very bad is the situation of FTX. So it was an ugly backstabbing, but on the other hand a lucky strike for uncovering a huge scam.
3. Keep in mind that CZ pretty much tried the same with Coinbase and although this exchange is a bit more solid and it was proven that CZ tweet on Coinbase was FUD (and soon removed), people still withdrew a could of billions worth of bitcoin from Coinbase (which is good if kept in self custody, but not great if just moved to another centralized system ie Binance).

So while it's most probably not CZ that orchestrated the huge scam at FTX, he's has his own "sins" and people have their right to judge him, at least for those.

That's important no doubt, but if we're talking about FTX, CZ, and SBF I'd say there are massive issues that dwarf that pearl of wisdom.

The move CZ pulled in selling FTT was ruthless, and initially I thought it was even villainous, but after learning about all the shit SBF was up to and how FTX was run I've changed my tune about that.  All that money he donated to the democratic party....what a complete tool.  But I'll bet there's not much that's going to be made about that particular aspect.

On a side note, as I'm writing this I'm listening to MSNBC news and some jackoff is declaring crypto dead since there's been so much damage done.  He must not be aware of crypto's history.

People's motives differ according to what they want to do. Some support CZ for nothing but that he wants to buy at a low price, and then he may attack CZ (Binance) because he wants to sell at a different price.

What I want to convey to you is that you do not trust anyone who is able to protect your money, or that he is the golden star who fears encryption and seeks decentralization, do not trust anyone, check everything and then decide what to do.

Look what YouTube channels did a while ago that glorified SBF, and today they don't all talk about him.

If there is no written liability agreement, playing with "people's money" which is not described in the terms of use page is not allowed in any way. Neither SBF, CZ nor the CEO of any exchange will try their best to avoid being sued by users although in the end they will have to face the law and be rather slow to remedy the situation out of coercion.

What matters most is not to leave your coins on an exchange, ones it is there, it is not yours on blockchain, you have no full control over your own coins. Exchanges means to exchange and not to safe or hold your coins on an exchanging platform. Nobody is blaming Binance CEO, and if anyone is blaming him, that is life, you can not expect people to think the same. But what most people are after is that CZ actions is leading to centralization, he created the Beacon chain, the BSC, automatically converting USDC, TUSD and USDP to BUSD on Binance, said to increase liquidity when USDC has been the alternative main traidng pair on some other exchanges. He bought Coinmarketcap, Forbes announces $200 million strategic investment from Binance in early this year. CZ wanted to be a big player and dominate the crypto market (although bitcoin remain strong), but this is leading to centralization in a way that if Binance fall, it might almost collapse crypto market which will lead to loss of money even beyond what happened to FTX.

Sometimes, I see things differently from other people's perspective, and this case of CZ against other exchanges is no different. This might be because I started trading and investments in sane climes where strict regulation thrives, not like in crypto where exchanges do whatever they want with people's money. Many might be blaming CZ, but I blame him less.

Yes, he's instrumental in crashing FTX, but is FTX and SBF guiltless? No. How many of you would have a $2.1B investment in a company and suspect stress and foul play and will not withdraw the money? His (BSF) illegal activities called for it and made the decision of CZ effective. This would have played differently if SBF is ethical, sincere, and played with people's money with a good level of professionalism.

As the largest exchange in the industry, Binance has the responsibility to protect its business and its environment, especially when it is underregulated. If the environment becomes unconducive and panic lingers beyond normal, it might affect even Binance, that's business for you. This is what the guy is avoiding, I think, though many see it differently as being selfish.

This is people's money we are talking about, none of the rivals of Binance should panic or conclude a foul play if they are sincere and professional enough. We should stop pitying centralized exchanges, they don't care about their customers and their money, they act like gods and play as they like with people's money living 5-star lives all around the world. They should come clean if they are truly what they preach. But I dare them, only a few would survive integrity test.

Should we now be supporting their illegality? Anyone of them should attack Binance too if they want to, it's called a healthy rivalry, all I want is the protection of people's money and sincerity of their operation.

I don't even support centralization again, yet let's stop accusing CZ to force other centralized exchanges to do the right thing and stop fooling people in the name of exchange.