Topic: What is your take on Binance coin (BNB). (Read 265 times)

Some altcoins are losing their marketcap when others are gainers. Ethereum transaction cost is so high compared to Binance smart chain. Simply, users change their minds to use BSC. For 1 week I saw very low Ethereum transaction cost, but today it is high. Users will turn back if the Ethereum transaction cost is low.

(a) Yes, to invest in Binance is a very good long term investment strategy because it has proven to be a coin with good team, good use case and supports from the community, so these makes it good for long investment.

(b) Binance will be able to support and sustain its growth and it didn't just get to the 3rd spot by surprise, it all happened due to good work of the team and their supports for projects under their smart chain network. Also, many projects are migrating to BSC network because of low fees, this will also contribute to Binance maintaining its position on coinmarketcap.

(c) Although, Binance has grown so much to be valuable today, although it has shown to have more room for growth, but yet I won't trade all my ETH for it. The reason is, ETH still remains the best altcoin, with the best smart contracts and some of these upcoming blockchain network are still copying that of Ethereum which shows that Ethereum is the best till date. The issue of gas fee can be attributed to the high number of projects on their network and as the team are already working on it, it will be solved.

(d) Ethereum is not a stagnant coin, it keeps growing as well, just as Bitcoin keeps growing too. Ethereum even with its growth can't overtake Bitcoin because it is growing also, in the same way, Binance Coin can't overtake Ethereum because Ethereum is growing as well, the price today speaks a lot.

Binance is a very good coin it has features that can support it to keep moving upwards like burning coins which can minimize the stock of Binance when buying demand is high it will cause a price increase, Binance also has very good fundamentals and has low transaction fees.  so it can help Binance maintain its position.

I do accept the fact that Binance is trying to own everything and have a say on the market with multiple developments either by purchasing its competition or simply copying other products, like the BSC chain copied directly from ETH, they have Pancakeswap copied from Uniswap and now they will be creating their own NFT and so on which means the price of BNB might grown even higher.

BNB has a lot of potential because of the way the binance is developing just recently binance is making announcements of NFT which means Binance will always develop however it will be un wise to sell your ETH to buy BNB because ETH is also a very good and have potential just like BNB

For me personally, the BNB coin is very promising and can serve as an excellent income in the future. Since I invest in BNB coin whenever possible. And I'm doing the right thing and investing right your funds. Now the world of cryptocurrencies is very promising and requires special attention, since everything needs to be understood. Since these are new technologies behind which the future stands. I have chosen the right path for myself and I also wish everyone good luck in the world of cryptocurrencies.

then bnb never replaces eth, bnb could be a good long term investment as its value continues to rise, i would never replace my eths with bnb as i believe their value growth is much faster, when the value of transaction fees eth will go down bnb will obviously lose many positions in the ranking

of course for now the BNB is a coin for a very good long-term investment. they have done a great job creating transaction ease.
if ETH doesn't solve the problem immediately. BNB will continue to rise and will beat ETH someday.
for now I was brave and believing so I sold all my ETH and started investing in BNB
I predict the end of the year will be wonderful for the BNB

Not that time to time but due to its business model of owning one of the most popular crypto exchanges in the world, you'll have that chance to make significant money because their business is continuous.
And in that case, the token (BNB) they own is very liquid due to the use case and incentive that the exchange provides and can stay for a long time.

A) it's not certain that its good for long term investment, but I think as long as Binance exchange continues to stay as the best crypto exchange then bnb will continue growing, my only fear is when the ETH 2.0 is out, I don't think Binance bnb will still be getting the attention it's getting now.

D) I don't know, it's seems impossible right now but in the crypto space anything can happen, the chances of bnb flipping Ethereum on the top coin chart is less than 30%, time will tell though.

Honestly I am already in plan to sell all my ethereum holding to convert them into BNB, because I am believing into BNB toover take ethereum incoming months hence I feel it would be wise decision to go for buying BNB when it is available for cheaper prices.

I guess here the point is not being most valuable coin but how much we are going to make profits. So, regardless of BNB will be topping ethereum, I guess investing into something which will get me more ROI will be  a good idea rather than what kind of market situation will turn later on.

Binance is an altcoin that is currently popular, because from time to time it has experienced a very significant increase, besides that the BSC network is also being used because the transaction value is very low, I think BNB is very worth investing in the long term because this altcoin has a bright future,,,,

In my opinion, binance is a very good altcoin to invest in, because this altcoin is very potential, and has a bright future in the crypto world, currently the BSC network is very much used by traders and investors, because BNB has very low fees, hopefully  BNB could outperform ETH in the near future,

Yes. BNB is indeed the best coin and is worthy of a long term investment. But when it comes to overthrowing Ethereum, I think it's an idea that's hard to realize. Because Ethereum also has a lot of users. There's no way just BNB will increase, while Ethereum is running in place. It just doesn't make sense.

(a) I think that is a good long term investment besides bitcoin and ethereum as Binance now at number 3 position at CMC/Coingecko.
(b) BNB can sustain its position because BNB has big support from the exchange that can grow in the future. But that will depend on Binance exchange itself to maintain their reputations among the other exchanges.
(c) No, I do not want to trade all my ethereum for BNB but I will trade my BNB with bitcoin or usdt and I see that is a good chance for me to make a profit.
(d) I am not sure if BNB can replace ETH position as Ethereum still the biggest altcoin now and have big supports from the investor. But maybe in the future, BNB can replace ETH sooner or later, especially if ETH can not solve the fees problem.

Well we have seen similar question all over the forum but something about yours just feels different. Love the introduction on how you have outline how the project started and how far they have come. Now let considered someone saw you post and invested in both project as of when you posted this topic with equal capital.

Do note that I'm not implying that we should make random investment decision based on topic or other belief we see online but let assume the post was the reason why you research more and decision to invest in both project probably just for some experiment.

BNB would had obviously given more profit as it's currently trading above 50% from the price when this post was published. BNB is getting all the hype now so obviously it'll give higher returns that doesn't mean ethereum is a bad investment either, only time will tell which was the best.

My take on BNB is that they have good future for at least the next few years to come. They are very fast in offering their new products. And right now, many crypto  users are trusting these financial products. With their SAFU in place, I guess a lot of its users are pretty confident with their funds sitting on this platform. But beating eth, not yet. But BNB is a very good choice to include in your investment portfolio. Just my 2 cents.

BNB is quite useful when I trade on Binance. And when people are trading in huge amounts, it does not makes much sense what price the coin is as the fees discount are converted and carried out in USD value. i.e. whatever the price, if you are buying small amounts of BNB to get a 25% of fee reduction, you are still in profit. But for long term buy and hold, I feel BNB is overvalued at the moment.

a. it's a good strategy to invest in BNB for long term investment

b. it can sustain its position maybe forever consider there's no coin that can having various usability like BNB

c. If ethereum 2.0 will not meet the expectation and I personally will exchange it to BNB, I have exchanged some of my ether for BNB

d. There is always possibility for ethereumm to surpass ethereum soon

To answer your queries based on my opinion-
(a) Right now, it seems investing in BNB for long term is a good one. They have huge potential from the way I see it because of their diverse products on their platform. And they are continuously innovating their products and services section. I don't see them stopping anytime soon.
(b) Will not trade all my ETH for BNB. Some only. As the potential of ETH in the next coming months is also good because of their upcoming changes in the network.
(c) There is a possibility for BNB to topple ETH, however, not seeing this to happen in the near horizon. BNB has a lot of things to accomplish first before totally surpassing ETH.

BNB does not have the same issues ETH does. It's already doing 3x the transactions, and fees are practically nothing. It's less distributed than ETH, but obviously the market doesn't care about that anyway. If regulators ever attempt to shut down projects on BNB, projects on ETH are just as vulnerable

I had no doubt for the performance of what BNB doing now in the market, where most of the new projects are now getting used the platform BNB and most of often BSC, but it doesn't mean BNB can the place of ETH, they may have both facing the issue problems, and I know both BNB and ETH can resolve it, I am pretty sure about that things. So, for me both are still good trade in any of the exchange platform at the moment.

BNB = ETH with a better monetary system, more efficient, faster, cheaper since it does not need to pretend to be decentralized.

BNB is basically ETH2.0 but you don't need to wait until 2024 for it

Binance the biggest crypto exchange in the world has huge incentive to get users to start using BNB instead of ETH

ETH at $2100 might seem impressive, but from the perspective of ETHeads who think it should be $20,000, it's a massive disappointment and it's still in a 3 year bear market against Bitcoin

CZ is the ETH killer

I think Binance coin has the developers and knowledge base to topple Ethereum, though its going to be a bloody battle for alt supremacy

I’ll answer all the questions with a YES aside from selling your ETH to buy BNB. This project comes a long way from being an ordinary exchange and become the best exchanges over the past years. They keep innovating, they introduce a lot of ways to raise funds and now they are doing great with their smart chain, I see a big future with BNB so keep increasing your holdings.

BNB proves that even a CEX can offer a real deal in this market and because of this I’ll continue to hold until it reach the price of $1000, I know there’s a lot of big things still coming to BNB platform, for sure they’ll keep on innovating.

I think BNB has achieved this great success because ethereum is not ready to offer a cheap and accessible user experience but I believe it is a matter of time.
I personally chose KCS, definitely underestimated and I believe that in the future we could see parallel ecosystems to BNB and ETH.
KCS is now BNB in 2018

In my opinion, Binance Coin is a very promising coin that can bring good profits in the future. Since the coin was created on the Binanc platform and, accordingly, this is the most active exchange and achieves great success in development. Thanks to the most popular exchange Binance, Binance Coin will always be relevant and in demand in the cryptocurrency market. So I believe that at the moment the coin is developing and achieving great results. And you need to use this chance to get more profit.

The power belongs to ETH still, the reason why bnb feels like the best right now is because new projects are trying to avoid the gas issue on ethereum network when ETH solves this problem things will get even better with ETH and BNB will crawl back into it's hole, ETH and BNB aren't of same league

a. Yes
b. It is sustainable because Binance is one of the biggest exchange and it can help sustain its BSC network. But the problem is the centralization that breaks the purpose of crypto.
c. I won't.
d. Likely but I don't see it happening anytime soon.

Well, I don't think so. Simply put, BNB is a development stage project, while Ethereum is a mature one. I'm not saying one is better than the other, I'm just saying they are different. And when I say mature, I think about the code, the APIs and the customer experience – not just the technology.

a. You have to read on the future plans of CZ for the entire Binance ecosystem. What's sure now is that they have a lot of products where BNB is utilized.

b. I won't if I had them both but let's look at the comparison,
- ETH at $2000 while BNB at $400
- ETH has unlimited supply while BNB has finite supply with quarterly burn program.

BSC and Ethereum looks similar but the latter is decentralized as fan boys would argue.

c. Everything is possible. It is the market that will decide on that.


P.S.
What's with your formatting?

Shouldn't dream that bnb will overthrow eth. Ethereum will solve its main problem in the near future and bnb will lose part of the capitalization that came to it from the ether. Bnb is now like Ethereum in 2017.

BNB has proven herself strong since her creation. Ever since the bull season started this year, all the top altcoin has shown a tremendous increase in price which the ethereum coin is not left out. I believe that in the crypto world weak coins will diminish if not able to meet up. I don't see ethereum showing herself weak or ready to drop as the second most valued coin after bitcoin

To properly indulge in this discussion, it is best to spell out some key points about the subject matter (Binance Coin) first, to bring everyone up to speed.

- BNB was created by Binance in July 2017.
- BNB started at price level of approximately $37 this year 2021.
- BNB now has a market cap of $50billion making it the third digital currency in the world to do so.
- BNB is now the third most valuable coin in the world and is predicted to topple Ethereum soon.
- In the last 13 weeks, BNB has recorded over 800% increment and has recorded a new ATH of 400$.

___________________________________________
Questions for discussion:
(a) To invest in BNB, is it a good long term investment strategy?

(b) Explain the reason you think BNB may or may not be able to sustain
      it's position as the third most valuable coin currently?

(c) Will you trade all your Ethereum for BNB?

(d) Is there a possibility that BNB will topple ETH soon as the second
      most valuable coin?