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GodsOfSolana

copper member

Activity: 3

Merit: 1

Welp.

As we see it, the market is quite red right now.

If things go lower, which might happen due to the latest CPI report (which was a fucking disaster by the way), the centralized players might get their hand forced.

CZ played a lot of poker with his friends early on in his crypto journey, so he's definitely a gambling man.

Let's hope for the best, because at the end of the day, innocent investors livelihoods are at stake here.

If CZ goes down, multi-millions will fall right with him.

Undecided

trendcoin

legendary

Activity: 2240

Merit: 1131

DGbet.fun - Crypto Sportsbook

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

...

BNB is almost a centralized cryptocurrency and CZ has the potential to repeat the mistakes Sam made. I think these criticisms are justified, but centralized cryptocurrency exchanges are a necessity for us and the best centralized exchange that meets our needs today is Binance. Therefore, Binance has been on its way for a long time. Also, I don't think there will be another centralized cryptocurrency exchange to take over Binance's throne. Maybe one day decentralized exchanges with good cross-chain trading capabilities will take Binance's throne.

bittraffic

hero member

Activity: 3038

Merit: 617

Withdrawals are not loss. It's the assets of the users. It doesn't belong to Binance in the first place.

Quote from: ?? on ??

CZ had an interview on CNBC, and it seems like he’s being evasive asf despite bragging about his warchest on Twitter for years.

https://youtu.be/uwsJm3qgp9I

Says he doesn’t owe anyone money.

Says users can withdraw assets whenever they want.

Says crypto auditors of the “big 4” don’t even know how to audit crypto institutions.

Says it’s good to stress test withdrawals of his exchange.
____________________________________________________

This is after ~8bil usd has been taken out of his exchange so far.

What do you guys think the direction of Binance is?

The same year to year nothingburger fud? Same like Tether?

If Binance is not fine, CZ would scramble in answering questions like SBF.

I can understand many will hate CZ after he dumped his FTT causing the exchange to dwindle. I do think CZ intended to really see if FTX can survive if he sells his FTT stash at market price. But he did it because some bulk of FTT was also deposited to binance which CZ thinks are meant to be dumped as well. If CZ didn't tweet to sell, It would be binance that will be suffering a huge loss.

DanWalker

hero member

Activity: 1960

Merit: 547

Vave.com - Crypto Casino

Quote from: Lak93xy on November 11, 2022, 09:45:36 PM

What CZ did was of course silly (there would have been a chance for FTX to recover if he had properly pushed it).

I do not support this view, FTX has been cheating in business for a long time, using customer money for personal purposes and even using it for politics. That is unacceptable for SBF, if he is really struggling due to unforeseen market surprises, then we can sympathize with him but he abused his power and deliberately cheated, it's only a matter of time before FTX collapses. CZ was not the cause of the downfall of FTX, but he had an impact, and I support that.

Questat

hero member

Activity: 2982

Merit: 610

It is a fact that we need to be prepared as well. As we are in this kind of investment which is full of uncertainties, we, therefore, know the possible output of this. Whether Binance will turn scam and bring our money, we accept that this will happen. When the FTX issue was raised, many holders and investors are withdrawing their funds from exchanges. Perhaps we are sad that many people lose their money in FTX but on the other side, this helps us to give some views to what will happen when storing our money in the exchange's wallet.

Even Binance assures something but still, it was hard to believe.

Luffygroove

member

Activity: 966

Merit: 25

Ton Together | Save Smart & Win Big

Not all of our trust can be placed in a few individuals or organizations. Decentralization is the driving force behind the creation of cryptocurrencies. Keep this in mind, please. Cryptocurrency is the instrument that liberates us from petty middlemen. Don't allow these giant, powerful exchanges control your crypto assets. In the field of cryptocurrency, no one can be trusted completely. Trust in oneself and one's own judgments at all times Trust the system and not the individuals.

Flexystar

full member

Activity: 1092

Merit: 227

Are we really moving towards the trend where some guy codes bunch of websites, integrations, writes this and that, invests in exchanger making and once they are billionaires they will just leave everything behind without any single thought about it?

I mean I have kind of started thinking it that way only. They have no urges about business development neither they think about generations to come. All they would do is create fat wallets and go away just like that. That’s unprofessional approach and it’s rising like pandemic.

jostorres

hero member

Activity: 2562

Merit: 586

Quote from: danherbias07 on November 14, 2022, 06:35:59 AM

So true.
Bitcoin could've been in greater value now if not for the altcoins created that made a power in the cryptocurrency market.
It's not just BNB but so does with stablecoins.
What's more sickening about it is we cannot do anything about it. What happened with FTX is already a good example of how scary a dump could be when one strong exchange was toppled by its own competition.
Binance going down will absolutely make cryptocurrency untrustworthy and Bitcoin being pulled down with it.

No, but I think btc will not be this huge if not because of the help of the altcoins because they have something new to offer and they are also being promoted actively as there are new alts which can come out from time to time.

Those who are new in cryptos will invest on them and then they will eventually find out about btc and switch on there. Before the FTX issue happened, the market is already dumping so don't say that it was scary. People didn't realized it and they are exaggerating things. Binance is still trustworthy as of now so better if people shouldn't advance think because it's not good but it will only cause people to be paranoid.

Tony116

legendary

Activity: 2072

Merit: 1023

DGbet.fun - Crypto Sportsbook

Quote from: Blawpaw on November 14, 2022, 07:13:52 AM

Regardless of what anyone can say, centralized shitcoins have helped Cryptos hit the spotlight. So, today, we may have the industry overrun by shitty Cex'es and centralized shitcoins, but they have been crucial for the development of the industry.

It's a fair point, bitcoin wouldn't be able to grow and the market wouldn't be as big as it is today without shitcoins. Today, most market participants are attracted to the shitcoin hype and not bitcoin, but then they will realize bitcoin is the safest investment on the market.

Cex and shitcoins will never go away, even though bitcoin takes half of the market cap but if shitcoins goes away the market won't be as vibrant and I believe a lot of people will leave the market, bitcoin alone cannot build a market. We shouldn't deny it, bitcoin is indeed the best in the market but it's not all.

eightdots

hero member

Activity: 966

Merit: 764

Quote from: danherbias07 on November 14, 2022, 06:35:59 AM

So true.
Bitcoin could've been in greater value now if not for the altcoins created that made a power in the cryptocurrency market.
It's not just BNB but so does with stablecoins.
What's more sickening about it is we cannot do anything about it. What happened with FTX is already a good example of how scary a dump could be when one strong exchange was toppled by its own competition.
Binance going down will absolutely make cryptocurrency untrustworthy and Bitcoin being pulled down with it.

So I don't want anything in the market to become stronger as a single force. The only thing that needs to get stronger is Bitcoin. If even one of the rumors materializes, the crypto will suffer heavily. Perhaps this wound will cause irreparable damage. Nobody here wants that.

drwhobox

full member

Activity: 756

Merit: 133

- hello doctor who box

Quote from: btc_angela on November 12, 2022, 04:59:33 PM

I guess we all have to stomach everything when BNB falls, and I do agree that it might really take a hit on bitcoin as we all know that CZ and his Binance is the top exchange right now. And if by chance it too fall as well like FTX, then maybe this could be considered as the next Mt. Gox.

So let's see how CZ will do it, I mean we have seen Luna And FTX collapses, CZ will have to think on how to mitigate the risk if he is on the same boat with FTX.

It's just a question if CZ or his Binance or his BNB is too big to fall. But it just shows that any altcoins can simply fall into pieces in a blink of an eye.

I don't think BNB will fall that easily, as you said Binance is too big and won't fall soon, already bnb is moving. We see on many occasions altcoins fall in a blink of an eye. That's why I keep altcoins in my watch but my favorite is btc.

drwhobox

full member

Activity: 756

Merit: 133

- hello doctor who box

Despite anything else that may be true, it's evident that CZ is steering Binance to be distinct from other exchanges. They're always accountable for the incidents they create, and they don't hide or cover them up.

I believe other exchanges will soon have to follow their lead. If an exchange can't make its assets public, then it has a problem. Investing in cryptocurrencies is always risky, and anyone who can't handle that risk should leave the market.

Blawpaw

legendary

Activity: 1596

Merit: 1027

There are two ways CZ'z story can play out. I personally do not go with your version of the story. CZ already showed, for many times, to be very transparent and always comply with everything related to regulation. So, it wouldn't be that good for him if things went bad with BNB and Binance. If you think about it, ETH and BNB became much alike right after the merge, and they are now the main industry leaders.

Regardless of what anyone can say, centralized shitcoins have helped Cryptos hit the spotlight. So, today, we may have the industry overrun by shitty Cex'es and centralized shitcoins, but they have been crucial for the development of the industry.

There's always more than one way of doing things. So, what we need to learn from this is that there will always be the centralized version, but there is also the decentralized version and people are free to go for the one they believe the most. Of course, that for those who are conscientious of what the real value of cryptocurrency and the technology is, they will keep supporting the decentralized way, so both ways will have to co-exist and pick the best from one another.

danherbias07

legendary

Activity: 3318

Merit: 1133

Leading Crypto Sports Betting & Casino Platform

So true.
Bitcoin could've been in greater value now if not for the altcoins created that made a power in the cryptocurrency market.
It's not just BNB but so does with stablecoins.
What's more sickening about it is we cannot do anything about it. What happened with FTX is already a good example of how scary a dump could be when one strong exchange was toppled by its own competition.
Binance going down will absolutely make cryptocurrency untrustworthy and Bitcoin being pulled down with it.

MoonOfLife

sr. member

Activity: 714

Merit: 253

Quote from: Jawhead999 on November 14, 2022, 04:55:17 AM

Quote from: ?? on ??

Bnb is excellent coin of biggest exchange in this world called Binance. This project has come very big in this future and more will come in coming times. This is one of best coins of investors as well. Binance exchange always make very hard decision about their own project. So my feeling is Bnb is not going to make you sad at any time in future.

Lol, trusting a shitcoin that doesn't have any use case or benefit at all? the price is only stick with the reputation of Binance exchange, if the exchange collapse, the coins will follow the same path.

So far it hasn't crashed, so nothing is true to your word here. BNB is shitcoin but BNB holders from 2018 to now have made a lot of money not inferior to those who invested in early bitcoin. You are here to make a profit or to argue who is good and who is bad, who is right and who is wrong. If you are a tech geek, you believe in bitcoin, I have no reason to argue with you, bitcoin is the best. And if you come here to make money, you don't need to distinguish between shicoin or bluechip coin, invest which one brings you profit. If your passion is not profitable for you, will you continue with it?

Jawhead999

legendary

Activity: 1820

Merit: 1207

Quote from: ?? on ??

Bnb is excellent coin of biggest exchange in this world called Binance. This project has come very big in this future and more will come in coming times. This is one of best coins of investors as well. Binance exchange always make very hard decision about their own project. So my feeling is Bnb is not going to make you sad at any time in future.

Lol, trusting a shitcoin that doesn't have any use case or benefit at all? the price is only stick with the reputation of Binance exchange, if the exchange collapse, the coins will follow the same path.

Quote from: abel1337 on November 13, 2022, 10:12:47 AM

Of course binance will take advantage of the FTX collapse as other exchange would do. CZ knows the weakness of FTX and CZ of course utilize the happening on FTX flexing that they have this proof of reserve that other exchange do not. Obviously, People would go to binance since it is better and currently the top centralized exchange. Binance could possibly experience a big problem in the future and I hope that CZ knows what to do. We all don't want to lose exchanges one by one.

I think it's true that people will choose Binance over any exchange now, but when there's a problem at Binance and CZ can't fix it, people will lose their confidence at any centralized exchanges. Actually right now they should realize to not hold coins on the exchange because we can't know the future and what will happen with the exchange. I believe no one ever predict would bankrupt just in short time.

KEN L

newbie

Activity: 20

Merit: 2

I have always had a bad impression of CZ, probably because I had liquidated positions on his exchange. In this Vanity Fair, few businessmen are clean and do some disgusting things, but this is the law of survival, the human world and the animal world are essentially not much different, so we need to use the blockchain to change the negative of the world energy.

evichi

jr. member

Activity: 1330

Merit: 7

My take in FTX incidence as well as UST/LUNA case simply tells us why security is crucial and why we have to be seriously careful about investing in cryptocurrency. Within a year, IMO, two major incidents of loss has happened. I have also noticed/read in some telegram groups, a number of people that have complained about their wallets being hacked. Sometime last year most of us observed fake tokens being sent to our wallets. All these point to one thing - security. I think it is time to take the issue of security more seriously irrespective of the profits you may be making or intend to make in various investments. Both Centralized Exchanges and Decentralized Exchanges have some level of security risk(s). Having your asset in form of one crypto currency or the other is also a security risk - PoW/PoS, etc. I think it is time to review the security status of our crypto assets.

IMO, I will not blame CZ for his decision. He has his reasons to take the decision regarding FTX.

abel1337

legendary

Activity: 2492

Merit: 1145

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Quote from: tvplus006 on November 13, 2022, 09:54:10 AM

Quote from: passwordnow on November 11, 2022, 09:08:01 PM

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

After the problems associated with the bankruptcy of the FTX exchange, the number of Binance users will certainly increase. "In response to the collapse of FTX, Binance, the world’s largest cryptocurrency exchange, has released details of its cold wallet reserves, disclosing proof of digital asset holdings worth more than $69 billion." - https://www.binance.com/en/feed/post/53973 This will definitely affect the choice of the exchange, among those who had an FTX account or are just thinking of trading.

Of course binance will take advantage of the FTX collapse as other exchange would do. CZ knows the weakness of FTX and CZ of course utilize the happening on FTX flexing that they have this proof of reserve that other exchange do not. Obviously, People would go to binance since it is better and currently the top centralized exchange. Binance could possibly experience a big problem in the future and I hope that CZ knows what to do. We all don't want to lose exchanges one by one.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: passwordnow on November 11, 2022, 09:08:01 PM

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

After the problems associated with the bankruptcy of the FTX exchange, the number of Binance users will certainly increase. "In response to the collapse of FTX, Binance, the world’s largest cryptocurrency exchange, has released details of its cold wallet reserves, disclosing proof of digital asset holdings worth more than $69 billion." - https://www.binance.com/en/feed/post/53973 This will definitely affect the choice of the exchange, among those who had an FTX account or are just thinking of trading.

vanesha

full member

Activity: 649

Merit: 100

Binance #SWGT and CERTIK Audited

Everyone here is those who want to develop their assets, of course, just want to make a profit. His biggest temptation is the greed itself, sometimes not only harming himself but involving others such as making exaggerated news so that the coins he holds sell well. I understand that risk, it's cruel.

Marykeller

hero member

Activity: 1064

Merit: 501

It's normal to feel this way. I understand your point that trusting your investment in someone else care is longer safe nowadays. Due to the recent happenings in crypto. No cause for alarm because CZ has made a name for himself on his exchange and out of the crypto exchange. CZ has been transparent and supportive of crypto, we saw how he handle the case of the luna crash. As for him, he has crypto investors at heart all the time. In case of any bad occurrence, he is there to help, figure out and manage the solutions. Just have a chill pill

btc_angela

hero member

Activity: 2660

Merit: 551

I guess we all have to stomach everything when BNB falls, and I do agree that it might really take a hit on bitcoin as we all know that CZ and his Binance is the top exchange right now. And if by chance it too fall as well like FTX, then maybe this could be considered as the next Mt. Gox.

So let's see how CZ will do it, I mean we have seen Luna And FTX collapses, CZ will have to think on how to mitigate the risk if he is on the same boat with FTX.

It's just a question if CZ or his Binance or his BNB is too big to fall. But it just shows that any altcoins can simply fall into pieces in a blink of an eye.

WalkerIVIV

hero member

Activity: 2436

Merit: 503

Cryptocasino.com

It's always individuals that lost their hard earned investment money at the end of the day, indeed BNB definitely have the chance of repeating the same mistake all over again since it's just the same thing, I guess considering that there isn't all coin that got affected by the recent event of ftt crash I think it's safe to say that diversifying investment is definitely a good choice, right now it's better to invest in coin like matic and eth where it's just smart contract coin that grow naturally.

dothebeats

legendary

Activity: 3542

Merit: 1352

Cashback 15%

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

Binance has already established themselves as the top dog of the crypto exchange industry. Pretty sure they already had bought actual assets and are not inflating BNB in order to gain more $$$ for themselves. They had been through a lot of breaches, hacks, and CZ has been in a lot of controversies but it seems that people no longer care because they know that Binance can easily just sweep these things aside and push forward with just being an exchange that delivers. Sam Friedman did a lot of miscalculations that caused the exchange to fail, and honestly it's not Binance's fault that an opportunity is presented in front of them.

I know that Binance and CZ also plays dirty, but at least they know how to play it safe—so far.

nakamura12

hero member

Activity: 2268

Merit: 669

Bitcoin Casino Est. 2013

At least they are honest with their security level and also getting hacked. Well, since it's centralized then they can froze which will stop anyone from transferring crypto out of the wallet and it is also known by many people that they have reserved funds if ever the funds are successfully stolen by the hacker which is good in my opinion. If you are one of the victims due to their low security atleast you can sti get your money from binance. I also don't think most of the crypto there are backed by air dust magic and dreams.

goaldigger

sr. member

Activity: 2422

Merit: 357

Quote from: Lak93xy on November 11, 2022, 09:45:36 PM

Hopefully not. It's always the common folk and retail who get punished.
What CZ did was of course silly (there would have been a chance for FTX to recover if he had properly pushed it).

Let’s not blame Binance on what happened to FTX, it’s their own fault and mistake which they should have a proper solution before getting into a worst situation. Binance is Binance, it is controlled by people and trusted by many because of what they are doing as they continue to improve their platforms. Bitcoin will always be the top option of course but without good platforms, it will be hard to own Bitcoin so we are still lucky that we have Binance as our option to deal with the market.

Jackl87

sr. member

Activity: 1722

Merit: 269

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.
What is BNB?
Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…
Who owns BNB?
A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.
A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

I don't really understand what you mean with your statement that BNB is a market full o fnothing but altcoins backed by air, dust, magic and dreams. Do you mean that there are mostly shitcoins launched on the Binance Smart Chain? If that is the case then i probably agree with you. The reason for that are also quite simple. The BSC chain is the second most adopted blockchain after Ethereum but has way lower fees than it, which means it is way cheaper for creators of scam projects or stupid meme-coins to create and launch their project there.
That does not mean though that there are no good projects running on the BSC chain.

5W-KILO

member

Activity: 234

Merit: 35

Moon.win

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

Calm down bro

Recently all centralised exchanges are told to provide their proof of reserves, this will clear things up with centralised exchanges.

We will also know those exchanges who are using fake volumes and liquidity.

Remember, we wouldn't have know what's going on if Binance's CEO haven't revealed the evil plan going on behind the scene. All thanks to him.

I know change is constant for humans but my dear even if BNB is built by aliens will you trust them? Evil men have ruined the thoughts of the possibility that good men still exists.

So far Binance CEO is a good man and I hope things stays this way.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

A LOT of people trusted Sam with hard earned dollars, and he’s just some kid inside who got rich and had his life turned into a little sandbox. Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

Which is the Alameda of Binance? There is to be a company or wealthy individual at least that will act as the market maker for Binance. So far there isn't. We know for a fact that Alameda Research had pumped the FTT which is on the leaked data, most of the Alameda assets are FTT.
CZ is smart enough to only have Binance pumping the BNB which also makes sense after all its thier token.

FTX pumps every token they list such as tokens on top of Solana through Alameda's funds, retail investors were fooled into thinking they were really valuable. SBF was hailed a Hero for saving Blockfi and all other lending platforms that goes down. So there goes the hero.

vv181

legendary

Activity: 1932

Merit: 1273

Quote from: ?? on ??

~That's why they owe it. It's not to us, or you, or me, it's to the general public.

From the fact of what is happening, the mainstream will become aware of the risk of keeping a coin on an exchange or they might simply just generalise that cryptocurrency is shit due to the recent fall down. On another hand, Binance itself will surely learn from its competitor's mistakes and so does for others.

It's part of cryptocurrencies reaching its maturity whether we like it or not. IMO, The general public should really direct their concern into knowing what they are actually doing, like what it's like behind the scenes. Indeed the regulation will become enforced tightly in the future, especially on CEX, and we can't do anything about it, it's for the sake of the general public. The essential thing is, let keep centralized things centralized, while decentralized currency like Bitcoin will stay the way it is.

People actually have choices, and each chooses their own. Yet we cannot blame others if it is interrelated.

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

A LOT of people trusted Sam with hard earned dollars

To be honest I had never even heard about him or FTX for that matter before all this drama began. But I agree, all these centralized platforms and centralized shitcoins they keep creating has been harming the whole cryptocurrency world more than it helps it. Binance and their centralized shitcoin called BNB will eventually have the same fate as its predecessors.

The good news is that all these events are making bitcoin battle hardened. A couple of years ago such a scam would have caused at least a 40% dump. Today it only caused about 16% dump and we have been in an accumulation more which many people think is a bear market so the effects should have been a lot bigger.

Doan9269

hero member

Activity: 812

Merit: 560

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

It makes me sick because BTC will suffer AGAIN later on for no reason when BNB eventually falls.

When bitcoin is the king of cryptocurrency, any other coin is believed to work by the dictate of bitcoin which means any all fall with bitcoin lies a big fall on bnb or any other crypto, so how does it occur that bitcoin follow suit from others when they were all sub version of the first digital currency.

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

What is BNB?

Nothing but a market full of nothing but altcoins backed by air dust magic and dreams…

Alot of their likes has been existing ever since the first digital currency bitcoin was kaunc and what they create is purely a business strategy for people to invest in them while looking for bitcoin.

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

Who owns BNB?

A human being does. What if CZ makes a little whoopsie and it’s revealed the entire time he isn’t who he says he is, his intentions aren’t what he says they are, and the real P2P money dream found in BTC will suffer.

Cz is a businessma ad expect him to work things out with the implementation that may not work to your favour but to his own interest.

Despairo

hero member

Activity: 1064

Merit: 843

Quote from: bittraffic on November 11, 2022, 10:04:15 PM

What could be exposed for CZ's anomaly? Nothing yet.

Until there's a hacker who get stole all of coins in Binance, so CZ doesn't have any way to refund to every users and pay operational cost etc.

Quote from: Iranus on November 11, 2022, 10:06:00 PM

I do not intend to defend or blame anyone here, I am simply stating the fact that the crypto market is an extremely risky market and that our money can disappear at any moment.

What's the reason your money can disappear at any moment? it's because of your stupidity who invest in shitcoins or leave your coins on the exchange? This is why everyone must need to avoid any shitcoins and just invest in Bitcoin, this can prevent your money will disappear since Bitcoin price wouldn't become a dead coin. Also use exchange as a marketplace, if you want to hold your coins, just use hardware wallet.

If you did both this, you will prevent your money disappear at any moment.

Iranus

hero member

Activity: 1792

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Leading Crypto Sports Betting & Casino Platform

Quote from: ?? on ??

Quote from: passwordnow on November 11, 2022, 09:08:01 PM

I understand where these ideas are coming from after everyone has trusted the person that has been looked up to by many and even reputable companies, a major holder and investor for his company, FTX.

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

Proof of reserve does not mean the reserve has intrinsic value, but it's like some entity out there decides what has value at a certain time and what doesn't. Again showing proof of what is being done with customer funds is a standardized part of the finance world for a long time now, it's in the same vein as a refrigerator turning on as a basic requirement. It's like when a game takes your USD via micro transaction and splits it into 15 different currencies to obfuscate the player into making poor allocations in resources. It's fucking intentional shit and it's the same thing FTX did to it's investors when dealing with 15 different garbage coins.

I do not intend to defend or blame anyone here, I am simply stating the fact that the crypto market is an extremely risky market and that our money can disappear at any moment. So we should be responsible for our actions, don't blame someone when they let us down. Neither Binance nor FTX force us to deposit funds in their exchange, all decisions are up to us. If we want to get x100 or x1000 profit, we should also be ready to lose everything.

In fact, binance also does not need to explain or disclose its assets to us, if you believe it, use it, if you don't believe it, protect your assets by yourself.

bittraffic

hero member

Activity: 3038

Merit: 617

CZ announcing to liquidate all the FTT assets they have indeed have the intention but it did successfully exposed who Sam is after that. And more information is revealed about what Sam had done like using customers' funds and the assets of Alameda.

What could be exposed for CZ's anomaly? Nothing yet.

Eventually, Sam had done nothing for crypto. Saving Voyager and all others were just lobbying politicians to heavily regulate crypto. The nerd was exposed and was actually related to SEC Gensler according to Crypto Banter.

laurenB7742

full member

Activity: 1302

Merit: 129

Vaccinized.. immunity level is full.

Quote from: passwordnow on November 11, 2022, 09:08:01 PM

I understand where these ideas are coming from after everyone has trusted the person that has been looked up to by many and even reputable companies, a major holder and investor for his company, FTX.

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

I agree with you, although anything is possible, it is clear that CZ is leading Binance to be different from other exchanges, they are always responsible for the incidents that they cause, do not hide, cover up. They have always been pioneers, first Safu and now a new term they created to represent transparency for investor peace of mind, proof-of-reserve.
I believe other exchanges will soon have to follow them, if an exchange can't make their assets public then they have a problem. Investing in cryptocurrencies is always risky and if someone can't take the risk, they should leave the market.

Lak93xy

copper member

Activity: 56

Merit: 21

Web3 is the future.

Hopefully not. It's always the common folk and retail who get punished.
What CZ did was of course silly (there would have been a chance for FTX to recover if he had properly pushed it).

passwordnow

hero member

Activity: 3108

Merit: 577

Leading Crypto Sports Betting & Casino Platform

I understand where these ideas are coming from after everyone has trusted the person that has been looked up to by many and even reputable companies, a major holder and investor for his company, FTX.

Quote from: SeeBiscuit on November 11, 2022, 08:59:29 PM

Who says the human beings at Binance aren’t plagued by the same things that drive greed and risk driven behaviors?

This is possible but I think so far, CZ and his company have always been vocal and transparent about what is happening to their company. Say, the hacks that have happened to them. Some other exchanges won't admit that they've got weak security that turned that incident into hacking. But them, they're telling they've been hacked but with a guarantee that funds are safe through their SAFU. I'm not defending them but everyone of us must take care of the funds wherever we are depositing it which we do in centralized platforms. And IMO, this is going to be a new trend for these companies, they'll be obliged to show their proof of reserve.

SeeBiscuit

member

Activity: 73

Merit: 112

Twenty One Million

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