I trust Binance and Nexo.
In a trustless network only trust yourself to write down your recovery phrase and have more than one backup for it. Do not trust Binance or Nexo with your funds, just the way people trusted ftx, Celsius, Voyager...with their funds. After trading, do not leave your funds there because you feel they are trusted, withdraw it, because if you do not know: proof of reserve is not proof of solvency. 
Topic: Too much FUD: Why FUD against Binance doesn't seem to be justified - page 2. (Read 293 times)
December 17, 2022, 08:27:47 PM
December 17, 2022, 08:26:12 PM
That's my impression as well. Binance has been growing comparably slow, but steady and that's an important basis for a robust platform. Binance may have a BUSD which is always subject of speculations and some shady shitcoin offers, offering customers a comparably high yield but not that high that I would expect it's not legitimate.
After all, I expect Binance to learn from what hapened recently and tidy up all branches in question.
And that would be very good overally to get more robust exchanges learning from the past.
After all, I expect Binance to learn from what hapened recently and tidy up all branches in question.
And that would be very good overally to get more robust exchanges learning from the past.
Im not try to defend the binance but after the fud happened Binance had massive withdraw and all seems to processed, and CZ the CEO of binance just said this situation like this is needed for an exchange is just like a stress test.
and also said the withdraw recently is not top 1. last time I checked binance withdraw is around 2$ billion in 24 hour
. Impressive but still if you guys want to long term hold better to keep it in hardware wallet 
December 17, 2022, 08:09:22 PM
I trust Binance and Nexo.
December 17, 2022, 07:42:25 PM
So far, nothing bad has happened yet, and Binance seem to grow more and more stable as time passes by and as more and more customers utilize their service.
That's my impression as well. Binance has been growing comparably slow, but steady and that's an important basis for a robust platform. Binance may have a BUSD which is always subject of speculations and some shady shitcoin offers, offering customers a comparably high yield but not that high that I would expect it's not legitimate. After all, I expect Binance to learn from what hapened recently and tidy up all branches in question.
And that would be very good overally to get more robust exchanges learning from the past.
Compared to other exchanges Binance seems to have the best management structure. They have always tried to reduce their expenses when other exchanges are reckless in spending. When FTX and others are splashing money on celebrities and several sports outfits for promotion and endorsement, Binance was busy building customers' trust and confidence. Binance is one of the few crypto companies that never sacked any of their staff during the winter season but they even added to their workforce. Although these exchanges cannot be trusted because I might not know what is going on in the secret but compared to other exchanges Binance seems to be the best among equals. This FUD is caused by cheap speculators and some Bitcoin haters that want to destabilize the system by all means. Also, the US government's investigation of Binance is one of the catalysts of this FUD.
December 17, 2022, 07:03:23 PM
So far, nothing bad has happened yet, and Binance seem to grow more and more stable as time passes by and as more and more customers utilize their service.
That's my impression as well. Binance has been growing comparably slow, but steady and that's an important basis for a robust platform. Binance may have a BUSD which is always subject of speculations and some shady shitcoin offers, offering customers a comparably high yield but not that high that I would expect it's not legitimate. After all, I expect Binance to learn from what hapened recently and tidy up all branches in question.
And that would be very good overally to get more robust exchanges learning from the past.
December 17, 2022, 06:41:57 PM
It all boils down to the most basic advice anyone can give to newbies: not your keys, not your bitcoin.
This accusation against Binance has been around for years. People are trying to reveal Binance's inability to provide assets that back their BUSD stablecoin. So far, nothing bad has happened yet, and Binance seem to grow more and more stable as time passes by and as more and more customers utilize their service. Most audits made to Binance turned out supporting the platform's claim that they can back the stablecoin that they are producing, and if that isn't enough reason to instill confidence on customers' minds, then perhaps people ought to get their funds out of the exchange if they aren't actively trading for that matter—as people should on any other exchange as well.
This accusation against Binance has been around for years. People are trying to reveal Binance's inability to provide assets that back their BUSD stablecoin. So far, nothing bad has happened yet, and Binance seem to grow more and more stable as time passes by and as more and more customers utilize their service. Most audits made to Binance turned out supporting the platform's claim that they can back the stablecoin that they are producing, and if that isn't enough reason to instill confidence on customers' minds, then perhaps people ought to get their funds out of the exchange if they aren't actively trading for that matter—as people should on any other exchange as well.
December 17, 2022, 06:40:52 PM
stupid media say customer balance totals 597602 on the 22nd of november
yet.. binances actual customer amount was
575,742.4228 BTC
https://www.binance.com/en/support/announcement/binance-releases-proof-of-reserves-system-0c7a786cbe8c4e108f3301385ab61e39
and binances onchain totals more then the 575k customer database balance
binance has total holdings (corp+customer) = BTC 764,327
binance has total holdings (customer) = BTC 582,485
binance customer balance = 575,742 BTC
so yea binance has more coin than customer database balance.
the reason why certain media are aiming bad news at binance. is:
a. distraction talk: avoid talking about the DCG contagion
b. dcg and bsv are enemies of binance for different reasons
c. if dcg can damage binance DCG can grab binance customers
here is the thing
DCG greyscale meant to be a trust managed by greyscale.
BUT
it has been show greyscale do not have any bitcoin funds in their management. they say their funds are secured in coinbase
but.. funny news. coinbase will not reveal the reserves proofs "due to security/business privacy reasons"
https://grayscale.com/safety-security-and-transparency/
yet.. binances actual customer amount was
575,742.4228 BTC
https://www.binance.com/en/support/announcement/binance-releases-proof-of-reserves-system-0c7a786cbe8c4e108f3301385ab61e39
and binances onchain totals more then the 575k customer database balance
binance has total holdings (corp+customer) = BTC 764,327
binance has total holdings (customer) = BTC 582,485
binance customer balance = 575,742 BTC
so yea binance has more coin than customer database balance.
the reason why certain media are aiming bad news at binance. is:
a. distraction talk: avoid talking about the DCG contagion
b. dcg and bsv are enemies of binance for different reasons
c. if dcg can damage binance DCG can grab binance customers
here is the thing
DCG greyscale meant to be a trust managed by greyscale.
BUT
it has been show greyscale do not have any bitcoin funds in their management. they say their funds are secured in coinbase
but.. funny news. coinbase will not reveal the reserves proofs "due to security/business privacy reasons"
https://grayscale.com/safety-security-and-transparency/
Quote
All digital assets that underlie Grayscale’s digital asset products are custodied with Coinbase Custody.
..
Due to security concerns, we do not make such on-chain wallet information and confirmation data publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure.
..
Due to security concerns, we do not make such on-chain wallet information and confirmation data publicly available through a cryptographic Proof-of-Reserve, or other advanced cryptographic accounting procedure.
December 17, 2022, 06:19:42 PM
FUDsters on social media are out in strong force again, trying to suggest that Binance would be about to collapse any day now. 
While some criticism against centralized exchanges is definitely justified, the recent wave of FUD against Binance is not beneficial at all because it's mainly based on speculations.
Due to the public nature of Bitcoin's Blockchain, some public addresses from Binance are providing an estimated insight how much BTC is owned by Binance. Yes, real Bitcoin on the Blockchain!
CryptoQuant a company known for Blockchain-related researches has provided detailed insights: https://cryptoquant.com/dashboard/639937bbfbe454308ff04670
Since Bitcoin is a public Blockchain, Glassnode is updating all Bitcoin holdings on Bitcoin adresses associated with Binance:
Yes, we should go for "not your keys not your coins" and avoid to leave our coins on exchanges but creating unnecessary, unproven FUD, should be avoided as well.
It wouldn't be beneficial at all if Binance FUD will become our Tether FUD 2.0.
Calm down, HODL your coins on your own wallet but don't fall for such cheap and unproven FUD.
While some criticism against centralized exchanges is definitely justified, the recent wave of FUD against Binance is not beneficial at all because it's mainly based on speculations.
Due to the public nature of Bitcoin's Blockchain, some public addresses from Binance are providing an estimated insight how much BTC is owned by Binance. Yes, real Bitcoin on the Blockchain!
CryptoQuant a company known for Blockchain-related researches has provided detailed insights: https://cryptoquant.com/dashboard/639937bbfbe454308ff04670
Since Bitcoin is a public Blockchain, Glassnode is updating all Bitcoin holdings on Bitcoin adresses associated with Binance:
Yes, we should go for "not your keys not your coins" and avoid to leave our coins on exchanges but creating unnecessary, unproven FUD, should be avoided as well.
It wouldn't be beneficial at all if Binance FUD will become our Tether FUD 2.0.
Calm down, HODL your coins on your own wallet but don't fall for such cheap and unproven FUD.
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