Topic: My analogy towards breaking the silence of Binance and the rumours around crypto (Read 127 times)

that is their idea of things but yes, closure or bankruptcy of one exchange doesn't mean that's the end of crypto. also, CZ just stepped out of his position but still behind the scenes of this largest trading platform. so don't understand why people are having negative thoughts on it.
and yes, if they will indeed shut down their operations in the future, definitely, there will be another one that will replace its position. but the crypto market will still remain.

Jesus christ why are you assuming Binance kicking out CZ is the end of it all or it would have that much of a big of an effect on most investors? It's an exchange, people come and go, and if it disappears? Another one would simply replace it. It's a money-making business, I reckon any of the existing exchanges out there would simply replace it if it ever goes down really. And regardless of Binance baiting people to sell BTC or not, they'd simply get replaced by people who would actually buy it out. Unless Binance has something bigger to influence the market, highly doubt they'd be able to move it like how you said.

I think if all holders sell their bitcoin before bitcoin reaches the base price of 1k, let's say, people will buy it at 30k if you look at the current price, it will be very difficult to sell it directly because there is no party holding above 20%, which is possible. happens to new altcoins/shitcoins that still have a few holders, but the case is different for bitcoin.

It is what it is and we have to deal with this already, CZ admit it and guilty of doing against the regulations and that is why they settling it and that is part of the settlement agreement. Bitcoin will surely benefit on this along with the competitor of BNB and of course better not to be pessimistic here because the market is growing and Bitcoin didn’t dump that much after this news, for sure we are still heading into a bull trend and $40k this year is still possible.

It is not really all that important to have something like this, it doesn't really matter and we shouldn't really be worried about it. I mean wherever it is all collected, exchange or somewhere else, I guarantee that people would all want to combine it somewhere eventually, that's how finance system is always inclined to go, even in ancient times there were places where people all kept their golds together, mostly for safe keeping, but it existed one form or another. That is not because it is smart thing to do or right thing to do, that's just human nature, people fear to keep it all themselves, not all people but most of them, so they want it to be somewhere all the people keep their money together, it makes them feel safer.

And to say that CZ was a criminal, and Binance got punished for it, without checking what the both sides were saying is a wrong start to all of this.

CZ may or may not be wrong, but we do not have all the data to back that, what if USA just blackmailed Binance to fire CZ with this fine? I mean have we seen the wire transfer Binance made in tune of 4.3 billion dollars to SEC? We have not, so maybe it is "either pay us 4.3 billion, or fire CZ from the top" type of situation? It could very well be something like that, maybe CZ was innocent but attacked by the government because he did not follow their orders? We are certain that both of those things are possible and to say that Binance is risky just because of that starts seeming fair as of now.

You mean that because of this negative news, the price will not go to $40,000 as predicted by others? I mean, we are still in the $37,000 and many thinks can happen, yeah it can go down any time, but if you look at when the news about the CZ debacle against SEC, there was no significant price movement to below that price levels. Because if we will follow your narratives, the price should be by going down and there are a lot of panic, but there's none.

Anyhow, everyone has it's own speculation, and as long as we have our Bitcoin in a wallet that we have total control of it, we have the absolute power whether we want to sell it at this point and someone gonna buy it instantly or just HODL on it and look at the bigger picture and not panic selling.

This can cause a Bitcoin collapse if everyone wants to sell their Bitcoin, the price would drop drastically like never before and it would get to a point where there is no one you want to sell your Bitcoin to other than moving it from one wallet to another because it would be practically useless at that time. This must have dropped its value to below $100 by then if not almost zero, which is why I think your imagination can never happen so it's better dead in the imagination. You have to know that Bitcoin is valuable now because people value it, but if it's the other way round where people are not fighting to sell it off, it would be indeed useless.

However, if it's the Binance and exchanges issues that are causing this imagination, it's still not worth it as the Binance issue is well under control, it can't set the market into jeopardy. As you can see, the market is calming now and neglecting the Binance issues since it doesn't affect the crypto market itself but Binance as a company. Also, it's not such that would stress the company or their financial standing, it's just fine that they are well-liquid enough to fulfil without many issues. And SEC, as a regulator, it's not daft, the protection of the company and people's money will always come first. This might compel them to give Binance time to pay the fine depending on their financial capability in a way that will not affect people's deposits or cause a collapse of the company and the crypto space.

just an emphasis on what @mk4 said, for any business transaction to occur there must be buying and selling. If all bitcoiners (holders) had to sell their bitcoin it would be accumulated in other bitcoin accumulators wallets (who are the buyers) . The bitcoin you have didn't fall from the sky to you, someone sold it to you, and by buying it you invariably turned to a potential seller.
Where is this speculations emanating from. Some of us will love to know.

 it is to be expected that people will be withdrawing their funds from the exchange given what happened.  Binance won't shutdown as a result of this present crisis they are facing, even if they do go down they aren't the first exchange to go Bitrex is a fresh reminder but that doesn't mean cryptocurrencies will see it's armageddon, the only cryptocurrency that will be going down with binance is it's coin BNB.

No offense, but

1. You do realize though that for every bitcoin seller, there should be a buyer? You can't just sell all the bitcoin into oblivion.
2. You use a lot of intermediate-level English terms but I could still barely understand what you're trying to say.
3. You do realize that $39000 is just a measly 4.5% increase from current prices, right?

Has any thought about where all the bitcoins would be accumulated if every Bitcoin holders have to sell out all of their Bitcoins? Or if does the system allows a possibility if everyone chooses to sell their coins in the crytop space?
I got this shrinky mindset after coming across several speculations in different platforms and sites about the criminal indulgences of the Binance CEO and his steps off and other (s) out of the industry.
Meanwhile... the so Binance is a strong hold of the Worlds largest crypto exchange.

The outcome of this atrocity exhibition of such personality in such world class crypto exchange (Binance) had got many saying not to trust any exchanges but yet they got their assets (crypto-coins) in any of it.
And there is already an underground speculations that this could be the end of cryptocurrencies.

But if I have to assume towards these whole occurances, I would say they are drastic programs that is basically to emotionally infuse the public with the consciousness of loosing it all so as to trigger massive investors selling of their coins while the systems strategy is to reduce current volume of demands in other to extremely depreciates the values of the coin then matter of time... There would be massive pro-booming where more than expected global masses who felt regretted not to had invested in the crytop right at when learnt about Bitcoin would have a second chance to take advantageous opportunities again in a lower rate affirmatively affordable rate to better incomes and then there would be gradual and a stable appreciations in order to beat the deflation until it gets to a highily appreciatable rate so it could still maintenance its potential volatility to enrichment.

I would say if this happens, it would be all trial era towards who hodles, halves empties its crytop wallets.
All trade cordially by faiths. I personal don't see impressive appreciate value of Bitcoin this year as lot of investors predicts the market would hit $40K plus this year. I don't even see $39K or above.