Topic: What's up with Binance Coin? (Read 375 times)

The platform is developing every day, so I think that the price may reach $ 500 in the near future, this is not the highest price of a coin for such a large and diverse platform as Binance

I believe not only the deployment of their BSC network helped them achieve their price but also the actual performance of binance as an exchange. They have been at the top among these crypto-exchanges and they are keeping the position by offering other services like trust wallet, BSC launchpad, their binance visa card, derivatives, one-stop investment solution, pool, p2p and others. They evolve their services and they are not offering as trading platform only. Their financial options are quite doing well also as people are trusting this network because of their insurance in place. And now, their BSC launchpad is growing as it has been the alternative option for devs to develop their project.

$500 is too much I guess only for couple of weeks, reach new ATH like $350 is enough I guess, and $1000 for the end of the year, and it deserve to to stay in the top 3 on CMC.

Every single design related to bitcoin was to prevent centralization and satoshi never compromised scalability with decentralization. Even the 10 minute blocktime was to prevent the future forks and the 1 MB blocksize was retained to make the blockchain lesser as year progresses. Currently it's literally very cheap (less than $75) to buy a 2 TB hard disk and the blockchain size still remains just a little above 320 GB currently. The future coins like BnB or other centralized coins took this issue seriously and built a better centralized coin which can be manipulated no matter what. As like you, I prefer decentralization over compromising my scalability and I always would be like that.

I never care how higher the bitcoin fees grow, but I believe the ln and core devs will bring some vast improvements to prevent centralized coins like BnB going too much mainstream and controlling the crypto market. By the way what is your thought regarding PolkaDOT? Even though Vitalik was the mastermind, Gavin was the co-creator and helped Vitalik in greater extremes like creation of Solidity during the creation of Ethereum. Gavin with his web3 came up with this coin and no one really knows if DOT could outpace ETH in future. Though I ain't a bitcoin maximalist for some reasons but I think if someone tries to come with a second layer smart contract solution similar to how ETH and DOT functions on top of Bitcoin it would be a market changer and might be pumping bitcoin even higher.

Even today the bitcoin codebase has the highest number of open source developers while comparing Ethereum which stands at second and Monero at third. So there are possibilities that DOT could outperform or some developer could come up with executing a cheaper and more complex smart contract using a second layer solution. We need to wait for the future and check that out.

Binance coinnhas been the direct native token used within the binance ecosystem and of recent has kept the pace as representing what stands binance holds in the crypto industry. We can not over loook the impart of binance in the massive adoption of crypto and for all these I consider the price of binance token appreciation worth it

I see that Binance is seriously developing its chain and also network.
Recently, the CEO of Binance is also seriously promoting and also making certain news, updates, and also attracts to make Binance coins and platforms accepted more to the world, gain more users, and also make the certain good movement of the projects, it's burning, and others.
Moreover, it is also at the right time for the Binance coin nd platform to exist and develop because the Ethereu platform really offers very high fee transactions. While the Binance platform offers the lower one. It may also relate to DeFi Hye that is very booming this time.

It's been shown from time to time that people don't care about decentralization at all. As long as a cryptocurrency fills their pockets with money, nothing else matters. Sadly, greed has prevailed over decentralization these days. It's no wonder why Binance Chain went from being worth nothing to hundreds of dollars in a few months. The so-called blockchain network may be faster and cheaper to use than Ethereum, but its centralized design brings us back to the corrupt banking system crypto was meant to avoid in the first place. You'd either sacrifice decentralization for scalability/convenience/ease-of-use or vice versa. There's no "middle point" in this.

I'd prefer to stick with Ethereum than Binance Coin because it's the most decentralized smart contract platform on the market today. I'm sure the vast majority of traders and investors alike will do the same decision in the long run. Despite Binance Coin's latest success, it still hasn't been able to outpace Ethereum in terms of mainstream adoption. The world's second-largest cryptocurrency by market cap has the biggest ecosystem of dApps and tokens on the industry. It mimics Bitcoin in terms of security, reliability, and censorship-resistance. While ETH will become less decentralized with the new upgrade, it'll still be the leader of the smart contracts space as other projects will fare worse in the long run.

Some say that BNB's sudden rise is largely attributed to increased interest in PancakeSwap as a result of Uniswap's ever-increasing fees. That could change soon, with Uniswap V3. It is said that the new iteration of Uniswap will make use of off-chain scalability solutions in order to provide its users with low fees and near-instant transactions regardless of ETH's current network congestion. If the rumors are true, then both UNI and ETH will explode in price at a very fast pace. Ultimately, people will decide which coin to support depending on specific needs in daily life. Just my thoughts

BNB price deserve to grow more than $230 mate, even the price will hit $500 in the next couple of weeks
many project move from ethereum network to BSC, this could be the main reason why BNB price growing hard

Binance is increasingly becoming centralized and it seems to be emerging as "Apple" of the Crypto Market. CZ has bought coinmarketcap and the site has been shilling about BnB now and then. Not just this, they are evolving as global super power in crypto market and been dominating almost every country. In terms of US, coinbase has been extremely slow and would probably go down during insane sudden price pumps or dumps but this hasn't been the case of Binance as an exchange and they have been providing blazing fast transactions.

Now with the improvements in Binance Chain and their domination, dependency rate on BnB has increased over the months and this was well evidently seen as a sudden price hike. As you said in post #41 too much hype on Binance would make crypto market to shift towards adopting a centralized strategy but ETH on the other hand has been highly decentralized for a reason. But do you think ETH's uncapped supply make them more stable over the future while comparing to BnB's utterly limited supply? Though gas fees has been a concern over the years, I think sacrificing it for centralization should be a no go! When Binance was hacked back in 2019, CZ tried to reverse the bitcoin chain which was a highly frowned upon practice in a decentralized crypto economy but with Binance Chain, he has been trying to launch so many projects into it.

I firmly think this is a path of centralization and CZ is trying to control the economy on the whole. With people in crypto are driven towards profits, BnBs rising numbers will always put a smile on their face even how bad the centralization is happening over

BNB is backed by a real value of a large exchange: the ability to pay fees with it. Alongside, there is a large development progress that dwarfs many other chains. For example, Ripple or other private chains which have been much longer on the market and have done little to actually create value for owners.

Low fees and fast transaction confirmation times may seem to be a benefit to many projects in the crypto/Blockchain space. But the truth is, that most smart contract platforms aren't as decentralized as they claim to be. Binance Smart Chain may be superior than ETH from a technical standpoint, but it's utterly centralized. Eventually, people will face the consequences of centralization when Binance makes a decision that would affect the whole blockchain network. Most don't care about this, as long as they're able to fill their pockets with money. I believe that BNB will only go higher in price as long as the "De-Fi" hype persists in the mainstream world.

At least, ETH is on a path to reduce fees once and for all. The ETH 2.0 upgrade will make things more interesting for the project itself. What I admire about Ethereum is its decentralization. Other competing smart contract platforms fall short when it comes to providing security, reliability, and censorship-resistance. ETH is like BTC in this regard. It's truly decentralized, unrivaled, and widely adopted in the mainstream world. Binance Coin is only good as a short term investment, as it's prone to the risks of a single point of failure. Once Binance ceases operations or becomes hacked, you can kiss goodbye to Binance Smart Chain. Only ETH will be able to last forever thanks to its decentralized and censorship-resistant design.



Yes. Binance Smart Chain has a lot of benefits that are hard to ignore in the crypto/Blockchain space. Yet, it's not a perfect solution for smart contracts. As I've said before, BSC is utterly centralized subject to the risks of a single point of failure. The project sacrifices decentralization for scalability/convenience/ease of use. The public doesn't care about decentralization, as most people conduct their trades via centralized exchanges nowadays. They only think about making money as fast as possible, without considering the risks of investing into a centralized project. It was always about decentralization/censorship-resistance in order to make crypto land a better place. Scaling to new heights will only reduce the cryptocurrency's level of decentralization in the long run.

As far as BNB is concerned, I believe it'll go higher in price within the short term. Once the hype ends, BNB could go back to the way it was. ETH is, and will always be, the "King of Smart Contracts" no matter what. Some projects are already realizing that their efforts to overcome Ethereum are in vain. They should focus on making crypto land a better place by working together with other projects in the industry. Interoperability is the way of the future for Blockchain to thrive in the mainstream world. It's not about Binance Smart Chain, or Cardano, or Polkadot, or Ethereum. But rather every single project working together to make crypto/Blockchain tech widely adopted by anyone, anywhere in the world. Once that's achieved, we'll be able to achieve true decentralization. Who knows what the future will bring as the industry grows towards new heights? Just my thoughts

Ethereum's high transaction fee are the reason most users are associated with the BNB price hike. I might agree for that reason but I believe it is temporary because if transaction fee drop then we'll see how people start switching to ethereum again. I also don't think that BNB will overtake ethereum's current ranking as a high market cap altcoin. BNB are close rivals to ethereum, but that doesn't mean they will easily make ethereum abandoned by the community.

Ethereum's transaction fee are currently above 130 GWEI as standard fee, this would still lead many people to think that BNB has enough potential to trade above $230.But at the moment it is very doubtful considering the bitcoin price is still trading at $47K.

The recent price movement of BNB was so surprising, because it was flying as if it will never come down again, currently now there is a retrace in price, BNB is below $250 and I don't think it will fall below $200 because due to the insane rise in ethereum gas fees people are now diverting from using eth network because it's too expensive rather there prefer using BSC network because it's transactions fee is low and affordable. I think this is one of the reason the price of BNB is going high and for sure it will retain its price and even move higher thereby hitting new ATH.

BNB has a big support from Binance and Binance users. Regarding to scalability, Bitcoin Cash and Ver team tried to convince people that they are real bitcoin and can bring good things for bitcoiners. 4 years from 2017 to 2021, Bitcoin Cash is still a shit altcoin and they can not replace bitcoin.

I think that BNB will face the same challenge. They can be more easily to upgrade their protocol and some technical factors but thinking of taking over Ethereum would be unrealistic. I don't have Binance but I am not wishing to see too much power in hands of Binance.

Sustainability depends on the project and not BNB itself, the reality is that there are a lot of problems and a lot of issues going around the crypto world and BNB fixed that with BSC and it is quite cheap, while ETH wanted 100+ bucks for a swap, BSC wanted 1 dollars and that means we are in a situation where the world would know that we are not doing that bad, and it is the greatest reason why BNB increased, and that is exactly why I feel like we should not be worried if BNB goes down or not, because as long as they are the best choice, they are going to be good as well.

I believe this pancakeswap thing will keep going higher and higher and we are going to make more profit from it, look at beefy and vaults of projects and how they are tied to pancakeswap and how they do LP as well there, so you will realize all those people making a profit will not leave BNB anytime soon.

Decentralized Exchange over Centralized Project which created by Centralized Exchange. Sounds ironic, isnt it? Or just me whom think like that...

time flies fast isnt it because we havent noticed that bnb are now in the 3rd rank but before bnb was hardly seen in the ranks and its price were also low back then but i have no comment if the rise of bnb has to do something with defi because i think that defi are different kind but to the question if bnb can sustain its state now id say yes and im expecting that there are more increases that can happen to this coin later in game because bnb already built a strong foundation .

I think so, this bnb coin is sustainable for the future of our asset. Right now I just started to figure out some good plans on my future in cryptocurrency. What's happening of its price recently is the results of increase in demand, and by the time binance adoption would soon arise! Holders will earn more than being sustainable.

Of course, now BNB has a competitive advantage over ETH, and can take the lead among networks with a smart contract, recently 1inch switched to the BSC network due to expensive transactions in the ETH network, so we are waiting for news from other dex exchanges.

the binance blockchain I think will become more popular when the ethereum network has the problem. the binance chain is also not linked with many projects. not easy I think to be able to switch to binance chain from ethereum. I think Binance wants to keep the market and their community populated by projects that have real benefits and development.