Topic: Thoughts on BNB (Why it won’t replace ETH) (Read 480 times)
I don't think Binance Smart Chain is poaching Ethereum users. BSC is a centralized network, ETH is decentralized. The departure of users from Ethereum to the Binance Smart Chain is a blow to DeFi's reputation as a whole. People want to work in a comfortable environment, not wait for ETH to settle their problems.
Binance will compete with Ethereum, but competition is the norm for market participants. Here whoever managed to offer the best option on time won. Binance now has every chance not just to make money on defectors from Ethereum, but to prove to many the benefits of cooperation on good terms. Although we must admit that there is now a division of the crypto community, some accuse Binance of dishonestly enticing customers, while others see great potential and confidence that BNB will be able to achieve Ethereum's success.
What about the fact that Binance is just going to conquer the crypto world and they truly succeed in it? They become the number one exchange, they acquired Coinmarketcap that was between top 100 websites across the world in 2017. Binance has a lot of resources, a lot of money and the influence. Just look, these shit people in Binance makes you lose a lot of money in leverage because they shut down the servers. They do different activities to pump their coin like they did 2-3 days ago. It's dirty what they do but finally, they can replace the Eth.
There are still a lot of ETH fans, they will use eth despite of everything
It's not about fans to a blockchain-based. It's because many don't have choice about the so called defying ( if that actually exist ). Uniswap, Sushiswap are the home base of Defi projects because of they are fully decentralized. Their activities are responsible for the actions in gas fee and hence they don't have choive as most of this hype project are mainly built on Ethereum.
Now that BSc has scale up the main game Ethereum has been trying to achieve since last months. I still think more development is needed but if BSc proves to be better, many will leave Ethereum for Binance chain.
I am one of those who believe BNB can replace ETH, because I see CZ as the CEO of BNB who understands the crypto world very well.
What a strange logic. He is not the only one who understands crypto, believe me
There is a huge team behind Binance. They do a lot of brainstorming to come up with sometning new and profitable. CZ is just a good person to make a presentation. Or you though that CZ is the only one who releases all updates, competition, updates, promotions and etc?
You people can say whatever you want but the project is getting stronger because there is a huge incentives for developers to run Dapps on it, 30% of the transaction fees goes to developers, which blockchain offer this kind of incentives to their developers, recently SFI said their V2 is going to launch both on Ethereum and Binance Smart Chain this shows that people are watching how the space is unfolding
That's right, we really have to adopt changes and if one project didn't move that much, I mean slow to no progress at all, then its better to switch to another project. This is not just about the rankings honestly, its about the services that you offer to the public that makes you more valuable. ETH and BNB are both good in the past but we can't tell the future of these two because they both continue to grow, we'll see the effect of this soon. There is only a small chance ETH could continue to be good, and that would be if ETH managed to make the gas fee's about 95% cheaper, and that is not an easy task to handle, that would be very difficult.
You people can say whatever you want but the project is getting stronger because there is a huge incentives for developers to run Dapps on it, 30% of the transaction fees goes to developers, which blockchain offer this kind of incentives to their developers, recently SFI said their V2 is going to launch both on Ethereum and Binance Smart Chain this shows that people are watching how the space is unfolding
That's right, we really have to adopt changes and if one project didn't move that much, I mean slow to no progress at all, then its better to switch to another project. This is not just about the rankings honestly, its about the services that you offer to the public that makes you more valuable. ETH and BNB are both good in the past but we can't tell the future of these two because they both continue to grow, we'll see the effect of this soon. 
I am one of those who believe BNB can replace ETH, because I see CZ as the CEO of BNB who understands the crypto world very well. That's why
it's no wonder Binance exchange is the platform most used by traders right now. Likewise with BNB, CZ will definitely do their best so that BNB can
become number one. With the Binance Smart Chain fees which are much cheaper than Ethereum smart contracts, this is clear evidence that CZ
delivers what investors need. I am really amazed by all the hard work CZ has done so far. So I will HODL my BNB.
it's no wonder Binance exchange is the platform most used by traders right now. Likewise with BNB, CZ will definitely do their best so that BNB can
become number one. With the Binance Smart Chain fees which are much cheaper than Ethereum smart contracts, this is clear evidence that CZ
delivers what investors need. I am really amazed by all the hard work CZ has done so far. So I will HODL my BNB.
You people can say whatever you want but the project is getting stronger because there is a huge incentives for developers to run Dapps on it, 30% of the transaction fees goes to developers, which blockchain offer this kind of incentives to their developers, recently SFI said their V2 is going to launch both on Ethereum and Binance Smart Chain this shows that people are watching how the space is unfolding
In some articles I have seen, BSC developers are making some massive amount in terms of BNB fee, this is just beginning and it will surely improve its standards once many projects start, launching on the BSC platform, the demand for ETH block chain only the transaction fee should decrease.
I agree BNB wont replace ETH because its the first coin to introduced smart contracts and become the most widely used blockchain for creating dapps but for now many developers are planning to use the BSC network from Eth because of its high transaction fees we all know that at the moment the anticipated eth 2.0 which will solve all this problems still in testing and has no final date when to goes live meanwhile BSC in a good alternative to dapps who are in eth chain while waiting for 2.0, BNB usecase are growing fast from a utility to its own exchange to dapps created in bsc bnb use as a fuel just like eth, if eth 2.0 will delayed more years BSC IMHO users will grow tremendously it can even surpass the current MC of eth when burning of BNB has done and the supply becomes limited to only 100m.
Overtaking is the strong word! I think people use it too easily here on the forum...
Take another perspective, both are good projects, and both wish to take a big share of the market, as much as they can! Ethereum is an older project, which is an advantage... Binance is the top crypto exchange, they took another way to build their project and they are doing it great! If you don't believe it, you can take a look at the price!
Well, I sold at $110, and I am eating my ass over that! Now I am thinking about what to do about BNB!
Take another perspective, both are good projects, and both wish to take a big share of the market, as much as they can! Ethereum is an older project, which is an advantage... Binance is the top crypto exchange, they took another way to build their project and they are doing it great! If you don't believe it, you can take a look at the price!
Well, I sold at $110, and I am eating my ass over that! Now I am thinking about what to do about BNB!
BNB and its developers just tried to prove themselves that they are worthy of our trust and investment, but I was not sure if they have the plan to replace ETH, probably not. Many investors keep eyeing BNB because of its impressive market performance since its early days and it was a really progressive project. Everyone who knows BNB had never disappointed and they become hot as Binance takes the lead among all exchanges(correct me if I'm wrong).
This simply means that BNB has a competitive power and it is no wonder why it gets the 3rd position next to ETH. It was on the developers now to push and replace ETH or just to stay where they are today.
This simply means that BNB has a competitive power and it is no wonder why it gets the 3rd position next to ETH. It was on the developers now to push and replace ETH or just to stay where they are today.
I would have never put a single cent on BNB when it was created but I now have to admit I was proven wrong since I like the way BNB and its corresponding blockchain has been developed.
Ethereum is struggling to fuel the countless applications that are being deployed over its VM and it is logic that new projects look for more reliable ecosystems.
BNB is a big threat to ETH so long as ethereum doesn't scale its clogged environment.
Ethereum is struggling to fuel the countless applications that are being deployed over its VM and it is logic that new projects look for more reliable ecosystems.
BNB is a big threat to ETH so long as ethereum doesn't scale its clogged environment.
yes. especially the cost issue on the ethereum network, as we have seen that gas costs on the ethereum platform are very expensive and it doesn't make sense to make a withdrawal or delivery at a high cost. but there is one thing behind this problem in that Binance started to take a good stance when etehreum was having cost issues, Binance is currently in the spotlight for crypto investors, due to its low fees compared to ethereum. The surprise coming that Binance was up 60% in the past week and it was Binance all-time high price increase.
I would have never put a single cent on BNB when it was created but I now have to admit I was proven wrong since I like the way BNB and its corresponding blockchain has been developed.
Ethereum is struggling to fuel the countless applications that are being deployed over its VM and it is logic that new projects look for more reliable ecosystems.
BNB is a big threat to ETH so long as ethereum doesn't scale its clogged environment.
Ethereum is struggling to fuel the countless applications that are being deployed over its VM and it is logic that new projects look for more reliable ecosystems.
BNB is a big threat to ETH so long as ethereum doesn't scale its clogged environment.
We all saw how the price of BNB was growing before our eyes and how quickly BNB approached Ethereum, and now we can say for sure that if the big players will want, they will do so that BNB will reach incredible heights and of course BNB can overtake Ethereum, but here the question is different, do big players need it and, in general, what are their goals for BNB is still unclear, but it is already clear that BNB will grow to incredible heights in the future and will compete with Ethereum.
I'm not going that BNB is going to replace ETH but i need to give some credits to binance coin.
The supply of BNB is shrinking, yet the supply of ETH is expanding. BNB is the token on the Binance Smart Chain (BSC). BSC is fast and cheap and works just like ETH. New projects are exploding onto BSC. It also gives you trading discounts at Binance, where they have done things from the beginning to increase demand for BNB while doing quarterly burns of the token.
The Binance CEO has always impressed me. His new wealth isn't going to his head. He continues to work hard and do amazing things. I don't see this changing anytime soon.
The supply of BNB is shrinking, yet the supply of ETH is expanding. BNB is the token on the Binance Smart Chain (BSC). BSC is fast and cheap and works just like ETH. New projects are exploding onto BSC. It also gives you trading discounts at Binance, where they have done things from the beginning to increase demand for BNB while doing quarterly burns of the token.
The Binance CEO has always impressed me. His new wealth isn't going to his head. He continues to work hard and do amazing things. I don't see this changing anytime soon.
If Ethereum 2.0 already launched, the fees will be cheaper and there's another story will be make by Ethereum.
We waited that long throughout 2020 for it with great expectations but now ETH kicks us in the face with extortion in gas fee. That sucks!^ BNB was rise because of the binance exchange and most trader use their coin just to cut fees, there is nothing else matter.
Nope, that isn't the reason. BNB is on the rise because of BSC which is cheaper for swap deals unlike ETH which holds a "knife" to our throat.
You people can say whatever you want but the project is getting stronger because there is a huge incentives for developers to run Dapps on it, 30% of the transaction fees goes to developers, which blockchain offer this kind of incentives to their developers, recently SFI said their V2 is going to launch both on Ethereum and Binance Smart Chain this shows that people are watching how the space is unfolding
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Alright, let me answer you and others that call out eth decentralization and defend binance shitcoin.
Imagine this scenario:
I am not defending ETH nor BNB and the limitless shitcoins, i care less about the token market. The point i will make is that i like the ETH concept and Vitalik wanted that in BTCitcoin and since the developers knew that it is nearly impossible to have everything in one umbrella and it might be a disaster as anything could go wrong with all these scripts and make things worst and he created his own scalable script and they were mocking the snail ridden transaction delays of BTCitcoin and years down the line what happened to ETH, they need to change the algorithm altogether and their initial theory which they thought was infallible failed multiple times. Alright, let me answer you and others that call out eth decentralization and defend binance shitcoin.
Imagine this scenario:
The rest of the things you mentioned i also do not have a different opinion, majority or all of the coins are mere clones and if developers wants to use a different clone with less transaction charges can you complain them ?.
I'm not sure you understood what I meant. Read my post again. In order to understand why Binance is faster, you need to understand how the network works. Etehreum is hosted on 11000+ nodes that can be ran by ANYONE. That means you can go right now, download a node and run it, help secure the network etc. Each transaction that happens on Ethereum chain needs to be synced across all nodes. What Binance did is, change the tiny bit of code, to only allow only their nodes to validate transaction (21 of them). On Binance chain, each transaction is only synced with that 21 nodes ran by Binance. Thats one of the reasons its faster. If thats fine with anyone, then honestly you are not meant to be here.
You didn't answer my question, would you use FastBitcoin or not?
Do you think people are here in the market for the novelty of any project, in the early days you might see only developers but majority that came after just wants to cash the profits when some shit coins pump and they do not care about anything else.
Since you are asking repeatedly whether i would jump into FastBitcoin or any shit coins in 2021 i will not, in the past i jumped into Namecoin, Litecoin Peercoin Doge and other projects for fun and so does everyone but right now it is not fun anymore.
I like how you explain how important ETH than BNB, but let's admit it, people are turning to BNB because they found it as a better investment, this blockchian is now way better than ETH since they can't control the high fees, if ETH had improve, then probably this would not happen.
I hope this is only brought by the hype, but BNB getting in the number 3, this is quite scary for ETH and it could replace on its spot now.
It happened before, XRP replaced ETH, that's a centralized coin, and now BNB might do the same.
I hope this is only brought by the hype, but BNB getting in the number 3, this is quite scary for ETH and it could replace on its spot now.
It happened before, XRP replaced ETH, that's a centralized coin, and now BNB might do the same.
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