Say the Binance CEO? | Bitcointalksearch.org

pooya87

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Quote from: Pmalek on June 14, 2021, 06:22:23 AM

They do link to his tweet where he stated that he changed his mind about the roll back, but they show no proof that messages were sent to mining pools with such proposals.

Well the discussion was obviously private but when there are multiple mining pool operators involved who are saying "they won't do it and it is not possible" that means they were discussing the roll back already. I'm just connecting the dots here.

Quote

Where did you read about the 300 BTC reward he offered for the reorg?

That I can not remember, it's been a couple of years now.

dansus021

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Part of AOBT - English Translator to Indonesia

our world has been revolutionized Grin

in my country it self digital wallet are pop out to make transaction even easier it has been used to buy almost anything using digital wallet so paper money is less using and cashless become increasing after covid but yeah money still money

Fortify

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Quote from: Red Cilli on June 13, 2021, 04:51:23 AM

He said, Money is still money, but the technology for transferring it is improving.

It makes sense.

Because metal coins were used in ancient times. Then over time it turned into paper. We are currently living in the digital world. Now with the advancement of software technology, people no longer have to keep money in their pockets. It has reached a stage where billions of dollars can be kept in a single account through software alone.It is a security dependent and does not require losing money or any information.

Its name is Cryptocurrencies. It will be called the present and the future.

Thanks to all the Bitcointalk members whose discussions have made cryptocurrency so advanced today.

It's funny really because if all the conversation around energy consumption is true then it's actually a step backwards. He is actually a terrible hypocrite really, because anyone who has used Binance recently will know that the fees to move currency out of their wallets are extortionate - fixed price and not updated for months after the value has moved massively. I remember paying something like $27 to move out around $100 worth of Bitcoin. Visa/Mastercard/American Express are actually miles ahead with lower fees, the only "downside" is they cannot be used anonymously because their is always a paper trail back to the source (required to prevent money laundering).

Pmalek

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Quote from: pooya87 on June 14, 2021, 03:17:42 AM

I read both articles now. I have no reasons not to believe that what you are saying about CZ contacting mining pools to organize a roll back aren't true, but the two articles show no proof of that. They do link to his tweet where he stated that he changed his mind about the roll back, but they show no proof that messages were sent to mining pools with such proposals. Where did you read about the 300 BTC reward he offered for the reorg?

Nevertheless, I am glad his proposal was turned down. I can't imagine what kind of negative consequences it would have had for the network. The miners passed the test with this one. Although, had they done it and succeeded, the faith in the network would have been seriously damaged, and so would their potential future mining rewards.

pooya87

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Quote from: Pmalek on June 14, 2021, 02:53:27 AM

He really said that? I'd like to read about that pathetic attempt of his, do you have a link to the story?

Yes. Basically the story begins before May 7, 2019 when Binance gets hacked and more than 7000 bitcoin is stolen in one transaction.
Initially they hide the hack and say it is just "maintenance" but their systems are all shut down and behind the scene they are contacting mining pools to ask them to come together and perform the 51% attack to roll back the blocks so that the incompetent Binance can get its money back. He was even promising the miners 300BTC for their help!
After they reveal that there was indeed a hack Changpeng Zhao (Binance CEO) in a public forum on May 8 mentions the pursuit and possibility of a "roll back".
Eventually later that day when the story of this outrageous act blows up in their face as pools deny their request and they see the angry community CZ tweets again claiming "after speaking with various parties, the exchange decided not to pursue the rollback approach." trying to hide that they did indeed pursue rollback but they failed to convince anyone to help them and by that time the block containing the transaction was already too deep (200+ blocks) to do anything about it!

You can read some of the story on news sites:
https://thenextweb.com/news/binance-bitcoin-hack-blockchain-reorg-plan-erase
https://www.coindesk.com/binance-may-consider-bitcoin-rollback-following-40-million-hack

Pmalek

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Quote from: Bitcoin_Arena on June 13, 2021, 05:42:46 PM

Avoid shitcoins like Bitcoin diamond, Bitcoin Gold, Ethereum classic etc.

Many people will tell you that Ethereum is the real shitcoin and Ethereum Classic follows the principles of the real Ethereum coin before the DAO debacle. The difference is that the classic Ethereum has less network security and thus suffered 51% attacks.

Quote from: pooya87 on June 13, 2021, 10:47:40 PM

We should also not forget that the same Binance was hacked a while ago and the same person demanded that bitcoin miners 51% attack bitcoin and reverse the block that contained the result of their incompetency. He even contacted and begged a lot of miners to perform such an attack on bitcoin!
I'm just mentioning this here to let you know who you are really quoting.

He really said that? I'd like to read about that pathetic attempt of his, do you have a link to the story?

boyptc

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Paper money is paper and what has a better value than them are the coins, the actual coins because they have elements and the effort that will be exerted requires much.

It is a fact that technology plays a vital role in the transfer and it really has improved a lot. Data is the new oil and it's part of the technology that we have and that's just the same as cryptocurrencies that require mining for PoW coins and for the others that are being backed up by a community.

Red Cilli

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Quote from: Oshosondy on June 13, 2021, 05:22:37 AM

Quote from: Red Cilli on June 13, 2021, 04:51:23 AM

He said, Money is still money, but the technology for transferring it is improving.

At least you should include the link of the site you read the news, or maybe on Twitter or any social platform, try to include the link.

Bitcoin created means other cryptocurrencies are existing, many digital currencies in the past have existed but died all because they were subjected to governmental pressure or people were not even using it, but bitcoin was created, was able to overcome the governmental pressure because it is decentralized, others also were created which are altcoins, but if not for bitcoin, I believe no successful cryptocurrency might have existed, bitcoin uniqueness makes cryptocurrencies to be existing today.

Well sir next i will give you all the post link. Thanks for your Support.

cabron

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He is right about money. Money created out of thin air can even be used as money as long as it's being used as money by the people. China is a country of age, they have experienced money printing going brr long before the Germans had. This time it's BTC that we consider money. Whether the IMF or any other organization dislikes BTC, it's being used as money. Nothing stops it when the people know its the freedom we must have.

pooya87

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Quote from: Red Cilli on June 13, 2021, 04:51:23 AM

He said ~

We should also not forget that the same Binance was hacked a while ago and the same person demanded that bitcoin miners 51% attack bitcoin and reverse the block that contained the result of their incompetency. He even contacted and begged a lot of miners to perform such an attack on bitcoin!
I'm just mentioning this here to let you know who you are really quoting.

SquirrelJulietGarden

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Quote from: sujonali1819 on June 13, 2021, 09:28:36 AM

I am totally agreed with the comment of Binance CEO. Really the money is the still the same as before but by advantage of modern technology it's now super fast and more secure than keeping in pocket or in bank . but now the using crypto is limited due to country regulation, basically the tax. In future hopefully technology will improve itself to ultra modern and rest of the countries will also accept this.

btw what others said, you should add a source link since you typed the line same to same as tweet.

From in-person deal to central bank transactions, to digitalized, e-wallet transactions. Then to cryptocurrency transactions, from centralized to more decentralized. People will want to get more experience with private transactions.

Many people use Bitcoin for transactions but don't care about Tor connections, Coin Join, privacy but they will learn and practice with Coin Join transactions. Law regulations from governments will naturally create more demands for Tor, Coin join, privacy.

The technology for Bitcoin transactions will be upgraded by Bitcoin Core team. The world has been changing on how we move our money, fortunately in better ways.

Bitcoin_Arena

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Quote from: Red Cilli on June 13, 2021, 04:51:23 AM

It is a security dependent and does not require losing money or any information.

This is not totally true. We have seen so many people have their a wallets hacked and money getting stolen. Cryptocurrency is mostly about taking control of one's funds including it's security. Once the wallets are compromised, the money is not secure.

I also know of fake coins/less secure blockchains that suffered 51% attacks leading to losses. So people should stick to the most secure cryptocurrency which is Bitcoin Avoid shitcoins like Bitcoin diamond, Bitcoin Gold, Ethereum classic etc.

sujonali1819

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I am totally agreed with the comment of Binance CEO. Really the money is the still the same as before but by advantage of modern technology it's now super fast and more secure than keeping in pocket or in bank . but now the using crypto is limited due to country regulation, basically the tax. In future hopefully technology will improve itself to ultra modern and rest of the countries will also accept this.

btw what others said, you should add a source link since you typed the line same to same as tweet.

YOSHIE

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Yes, it was said directly from the CEO of Binance on his twitter, but I don't get the point of this topic.

https://mobile.twitter.com/cz_binance?lang=en

Of course, as technology becomes more sophisticated, people's thinking becomes more sophisticated, one of which is like the OP mentioned cryptocurrency, if it is likened to the same as before we did not have electronics, now we have it to make it easier for humans in all matters, be it households, offices, farms, buildings and so on.

I also believe that in the future crypto will become a necessity in helping people in this world in all matters, especially in online transactions and shopping, orang tidak repot atau pusing membawa uang kertas dalam melakukan transaksi dan berbelanja, people do not bother carrying paper money in making transactions and shopping, the positive side of crypto can protect people in this world from criminal acts.

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Quote from: Red Cilli on June 13, 2021, 04:51:23 AM

He said, Money is still money

I don't want to be harsh, especially after your nice words (thank you!), but you clearly have to learn more.
One problem on this forum (and this world, actually) is plagiarism. It's (obviously) against the rules.
To avoid this, please get used to point (clearly) the source of the words you quoting.

Quote from: Oshosondy on June 13, 2021, 05:22:37 AM

At least you should include the link of the site you read the news, or maybe on Twitter or any social platform, try to include the link.

Binance CEO is communicating mostly on Twitter, so here's the full quote and also the link for it.
I hope it also absolves OP

Quote from: https://twitter.com/cz_binance/status/1403568585411207169

A message is still a message, but the technology for transferring it has improved over time.

Money is still money, but the technology for transferring it is improving.

Oshosondy

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Quote from: Red Cilli on June 13, 2021, 04:51:23 AM

He said, Money is still money, but the technology for transferring it is improving.

At least you should include the link of the site you read the news, or maybe on Twitter or any social platform, try to include the link.

Bitcoin created means other cryptocurrencies are existing, many digital currencies in the past have existed but died all because they were subjected to governmental pressure or people were not even using it, but bitcoin was created, was able to overcome the governmental pressure because it is decentralized, others also were created which are altcoins, but if not for bitcoin, I believe no successful cryptocurrency might have existed, bitcoin uniqueness makes cryptocurrencies to be existing today.

Red Cilli

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He said, Money is still money, but the technology for transferring it is improving.

It makes sense.

Because metal coins were used in ancient times. Then over time it turned into paper. We are currently living in the digital world. Now with the advancement of software technology, people no longer have to keep money in their pockets. It has reached a stage where billions of dollars can be kept in a single account through software alone.It is a security dependent and does not require losing money or any information.

Its name is Cryptocurrencies. It will be called the present and the future.

Thanks to all the Bitcointalk members whose discussions have made cryptocurrency so advanced today.

Topic: Say the Binance CEO? (Read 214 times)