Press J to jump to the feed. Press question mark to learn the rest of the keyboard shortcuts
View
Sort
Coming soon
0 points · 1 month ago

You're talking about medium and long term effects, where this thread is talking about short term activity. You're points, which I agree with are out of context for this discussion and effectively moot as they are irrelevant.

The only things that will affect the short term activity are short term effects:

  • Coin Burn
  • Zero Fees
  • Utility Nerf announcement

All these will have a negative impact on price and confidence.

see more

Everyone is forgetting about the community coin of the month and the BNB vote bonus

Moderator of r/binance, speaking officially2 points · 3 months ago

Not yet but Binance is planning to release margin trading as a feature. We do not have a date at this time.

Is it safe to use MEW with the ledger nano S?

see more

Same question, has anyone tried using a hardware wallet today with success on MEW?

Original Poster1 point · 3 months ago

It's still a fair bit down on its BTC value so the point still stands. USD value doesn't mean a whole lot in and of itself.

see more

“It’s still a fair bit down on its BTC value...”

That depends on when you first entered BNB. It’s still up over 12,000% for some of us and has clearly outperformed BTC to this point.

It’s only down by about -13% on BTC’s ATH if you bought at the peak. That’s outstanding performance and wouldn’t consider that a “fair bit down” if you ask me.

Original Poster1 point · 3 months ago

I'm talking about the last month or so. Obviously you can dial the clock back further and it looks great but BNB has been one of the poorest performing Crypos in this recent upturn. As a long term investment you probably can't go wrong with BNB, but that's not what I'm talking about here.

On a more positive note though with the dust to BNB conversion announcement seems to be getting BNB moving upward again which is encouraging. Hopefully it maintains this upturn.

see more

I agree. If you’re a day trader then I see where you’re coming from. If you hold long term then it’s very strong, I’d even say mid term leading up to the burn. I plan to hold into the holidays and reassess.

Load more comments

Can you touch on the details about the Switcheo's price action?

You’re forgetting that not everyone is a long term investor. You have scalpers (traders who open and exit within seconds to minutes, day traders (8 hour trades), swing traders (days, weeks, to months), and then long term investors. This is why you constantly see the prices fluctuate up and down.

Do you have 2FA enabled? If not, this may be the reason why.

Original Poster1 point · 5 months ago

I have Google Authentication enabled but no SMS Authentication I didn't have any issues with withdrawals before and I was able to withdraw without any problems before.

see more

Check your IP history. Have you recently logged in from a different IP? Have you recently unlocked your account or recently changed the email address?

People are also forgetting the demand for BNB during the launchpad ICO - BNB only sessions. I would venture to guess that once people figure out the cycle that more will start hoarding additional BNB to have it at cheaper prices prior to quarterly burns (which drives value up) and before value increases based on the demand for BNB during launchpad sessions.

Original Poster1 point · 6 months ago

I'm still wanting to believe in some long term utility for this token and my whole portfolio is BNB right now. I'm hoping the CEO figure out a way to make this token more valuable. Is the discount from each individuals start date or does it just go down in sept. for everyone?

see more

People who invest long term will be rewarded. The utility will continue to expand. Those who don’t believe have every right to sell their position and move funds else where. That’s the amazing thing about this space, one day your token isn’t doing so well then the next moment it’s up 10,000% because of a move that brings the value up.

I think a lot of people who don’t believe will be shocked in the future when they see how much utility BNB has and also how it’ll be used with the decentralized exchange.

Binance will continue to grow and evolve and so will the user base.

That’s a huge gain for you. Congrats. You had the right reasoning and a steady heart and belief in the tech. Is there any of the new sub $100 coin you feel could have a potential similar to Ether? Or is it too late and Ether is the only way?

see more

Binance BNB

I do think we are heading up but I think the whales will screw with us a lot more on the way there. No steady climb imho. Lots of horrific 1,2 and 3 day "crypto is over crashes" on the way back up. Maybe even slightly longer - so it's more "convincing" and makes even hodlers panic. I've become pretty much of a crypto sperg and it's actually been benefiting me financially tbh. Initially I was awful at trading. Learning T.A. didn't help that much - just drained a lot of time. Now, ironically, I don't really "trade" per se but I would say I make all my best guesses when I think about what I would do to the market if I were slightly evil and could influence it with my big money.

And that's why a horrific dip makes sense right now. Get everyone happy about the recovery. There's probably a bunch of money tied up in Coinbase ACH transfers after the last dip with confidence recovering. Perfect time to make people panic with a flash crash for a few days, then push the market slightly below where it was before so people "relief sell" while they sell at a slight loss thinking "boy I better get out now. What a lucky little rally for me". Then and only then, immense rallies past 10, 20, 30k will happen and the people who sold will fomo buy in higher only to repeat the cycle. I've been there. I've learned - a lot.

I'm buying THE SHIT out of the next "crash". I don't even look at it as bad anymore. I used to think "buying opportunity" was B.S. like "when god closes a door he opens a window" type shit. Now, I really do see it as opportunity. I'd love some 5k BTC. $400 ETH. $80 neo. yum.

see more

$5k BTC $400 ETH and $80 NEO is considered a discount now?! Wow, we’ve come a long way. Lol

Yes but for that to happen the term ‘invested’ needs to transform into ‘uses’. We need to see actual adoption into every day life. When the CFTC guy said crypto’s market cap could be 20 trillion by 2020 I imagined a scenario where cryptos are being used in everyday life, like money. Regardless of what it does if it’s being used in a sense that it solves real word problems whether it’s borderless payments or IoT & blockchain system integration to transmit data, it needs to actually be used.

If you are holding onto a solid project, whether it be IoT, a platform, privacy, interoperability, or has big time partnerships for its use case, I imagine you’ll be quite a wealthy individual come 2020. Truth is the community as a whole has become impatient. It’s partially not everyones fault, looking back, 2017 was explosive in terms of growth but people forget about that whole month of bleeding out in June or a couple scares last January, they just see the over trajectory and want it now.

2018 will be no different, plenty of dips and crashes like right and periods without much action but overall huge gains. By 2020? Who knows, cash may be a thing of the past.

see more

Can you link where he said crypto market cap could be 20 trillion by 2020? Very curious

C4Destrukt commented on

Don’t forget the added bonuses for BNB holders such as BNB sessions for launchpad. Price will increase as people rush to buy BNB in order to trade during a BNB session for the ICO. Startup companies are paid in BNB and more than likely would not liquidate all of their holdings if they believe in the value increasing (just like ETH). Don’t forget additional utility in the future and who knows what that could be? Staking? Nodes? Gas for DEx? Cross-platform integration (like Monaco and Uplive). It is a 10 year project so there is plenty of room to grow for BNB. Oh yea, the platform works and the product is usable (unlike 95% of the speculative alts).

Binance makes money regardless of the market condition (bear or bull). They will have plenty of funding and can continue to grow should the markets ever stay flat for several years. Binance is a winner long term.

If your friend can’t be trusted with credit bureaus then what makes you think you can trust him?

Original Poster1 point · 6 months ago

That is not true, he has a few credit cards. He just asked to do payments so I wasnt entirely sure how that would work for a car payment. But like many said I think i'm just going to have him get a loan to cover us both.

see more

It takes 5 minutes to get a personal loan. If he plans to pay it off so fast then the interest rate doesn’t matter and it would protect both of you.

Not giving trading advice but dollar cost averaging also works in both directions if that is someone’s strategy.

The Ethereum withdrawal system (ETH and ERC20 tokens) is in the highest demand on all crypto exchanges.

It doesn't scale well either, so withdrawal fees equivalent to 0.01 ETH are fairly standard on any crypto exchange.

Exchanges which charge less than 0.01 ETH either have a trading fee much higher than Binance's 0.05%. Or they lack liquidity/volume, so you lose money to slippage.

see more

“Exchanges which charge less than 0.01 ETH either have a trading fee much higher than Binance's 0.05%. Or they lack liquidity/volume, so you lose money to slippage.”

^ This.

Original Poster25 points · 6 months ago

That’s great to hear. Can you provide any source for that info?

see more
Moderator of r/binance, speaking officially54 points · 6 months ago

Last page of white paper briefly covers it (page 17). Be assured Binance understands the risks associated with running an exchange and this is something they do not take lightly.

https://www.binance.com/resources/ico/Binance_WhitePaper_en.pdf

Original Poster19 points · 6 months ago

Thanks. Still, it's only one paragraph from their initial document, that includes just one technical sentence. Do you know if ISO/IEC 27001:20132 and CCSS are indeed the industry security standard? Do you know if these methods are currently being employed? Genuinely asking - I'm simply not sure. Binance is a bit too quiet on these points for my comfort. Here's what is mentioned in white paper: "Security is Paramount Many crypto exchanges have failed due to poor security procedures. Most security breaches could have been prevented by taking simple precautions to protect critical resources. Our team has developed Binance with security as the foremost concern in their minds. We strive to ensure that we have followed all the industry best practices when it comes to securing infrastructure and data including ISO/IEC 27001:20132 and the CryptoCurrency Security Standard (CCSS)3."

see more
28 points · 6 months ago · edited 6 months ago

There are many reasons why Binance does not go into depth about their security measures. Same goes with any other exchange. Most exchanges give generic answers such as data is “split with redundancy”, “AES-256 encrypted”, and “copied to FIPS-140 USB drives and paper backups”, or “cold storage and paper wallets”.

These are all standard security measures that every exchange should follow. The advanced security measures or protocols that occur beyond that are typically never talked about and with good reason.

Load more comments

We don’t have an official date yet but it is planned as a feature that will be added in the future. I know this doesn’t help answer your question but only official dates will come directly from Binance announcements.

Watch the CEO of Binance speak about this subject here:

https://twitter.com/boxmining/status/954777799411273730

Changpeng Zhao (CEO Binance): “There is definitely a lot of room for growth for decentralized exchanges, as well as for centralized exchanges. The two are not mutually exclusive. A lot of people confuse that, and think that decentralized exchanges will replace centralized exchanges. That might happen eventually, but it will take a long time for it to happen. In the next decade, we will see decentralized exchanges coexisting with centralized exchanges. The current decentralized exchanges have low volume and are tricky to use. You have to send to a smart contract and then you have to wait. It’s not high frequency trading.

I give the analogy of a train and a car. Just because there are trains which can go faster, doesn’t mean that there are no cars. They two serve different purposes. Eventually, we may live in a world that relies completely on trains or driverless cars. But we live in a time where centralized exchanges provides users with higher liquidity and an easier user interface.

We are watching the decentralized exchange space very closely. We will develop our own decentralized exchange for sure. We want to promote decentralized exchanges and advance the technology in that space. That way we can ride a bit off their innovation later on and push our own tech forward.

Decentralized exchanges have the advantage of anonymous trading and you don’t have to have coins in custody of the exchange, but centralized exchanges have much faster matching engines, much higher liquidity and promotions like coin giveaways that make them much easier to promote."

Binance will eventually compete to be a top Decentralized Exchange where BNB will be used as a gas.

[deleted]
2 points · 6 months ago

[removed]

see more

Binance wouldn’t lose a lot of volume since majority of the users come from the US.

BNB, since you’re asking on a Binance page :)

Do you work for Binance? All your comments around here are about them and nobody else.

see more

I am an Official Binance Angel and mod for this Reddit

20% of total profits go toward the coin burn.

Also, if the referral commission went down then that means Binance gets more profit which also means more money going towards burning BNB.

u/C4Destrukt
Karma
2,020
Cake day
May 30, 2017
Moderator of these communities
r/binance

44,888 subscribers

r/BinanceExchange

20,749 subscribers

Trophy Case (2)
One-Year Club

Verified Email

Cookies help us deliver our Services. By using our Services or clicking I agree, you agree to our use of cookies. Learn More.